The development and expansion of the real estate business are directly dependent on the performance of the sales team. So, if the sales team can’t reach out and engage with prospects in a different geography or is overburdened with various other tasks, then it might hamper the growth of real estate companies.

To counter this situation, realtors are employing the services of channel partner management. Post-RERA and implementation of GST, the role of channel partners in real estate has become quite important, which is evident from the fact that their support has helped businesses in boosting the company’s sales and increasing brand presence.

Real estate channel partners add value in sales and marketing by acting as sales professionals instead of mere brokers. But working with these channel partners can be challenging at times for realtors and might affect business operations.

Some of the challenges faced are:

  • Deciding the commission structure: Channel partner solution companies get an appropriate fee or commission based on the number of properties they sell in the designated time. Additionally, there are various incentives offered in the form of gift hampers or international holidays based on project dynamics and targets achieved. Often, there is a discrepancy in deciding the commission structure or if the incentives offered don’t excite the partners. In such cases, channel partners might direct their resources to companies where better incentives are offered.
  • Tracking leads: Channel partners get paid on the closure of deals only, so it is of prime importance to them to not lose any leads. Yet, often, there may be conflicts between channel partners and the internal sales team on the ownership of leads. As it is directly related to their remuneration, the channel partner isn’t likely to back down, posing a challenge for realtors to maintain harmony. A possible reason for such a situation is the inability of realtors and channel partners management to track the status of leads and record a past conversation with them, leading to negative experience within the team.
  • Avoiding double-booking: Realtors operating a big project take help from channel partners to sell these properties quickly. The problem arises when both channel partners and internal sales rep book the same property to different prospects. It not only creates embarrassment for realtors but also creates trust issues between the team. This happens when realtors haven’t demarcated properties that are to be only sold by channel partners, leading to conflicts and confusion.
  • Release pay-outs on time: Channel partners make a living in business based on the commission received on selling properties. If for some reason, realtors can’t release commission pay-out on time, then it might strain the relationship with channel partners. Delay in pay-out due to cash crunch or other logistics issues affect the relationship bond between realtors and partners and might impact the sales growth in future.
  • Communicate the latest updates: Strong communication is vital for the success of realtors and channel partner relationships. Whether it’s the latest update regarding the property, new offers, discount, or material such as eBooks and brochures, realtors share all these manually with channel partners through the offline medium. This creates an information lag between both parties, affecting the smooth functioning of the entire sales process and shackling their ability to promote the product effectively.

So, while channel partners help real estate businesses in getting ahead of their peers, the challenges faced act as a roadblock in forming a working relationship with them. To help in this endeavour, Sell.Do has launched its real estate CRM software to manage the above problems faced by realtors with channel partner solutions. Here is how they help:

  • Commission structure: Sell.Do provides an integrated incentive calculator via their real estate CRM software that can help channel partners in closing the deals faster. Realtors can integrate their incentive ladder logic in the portal through collaboration software for the entire project and calculate the premium to be paid automatically.
  • Tracking leads: Channel partners can save the conversation with leads gathered from various mediums in the database via real estate CRM software. This helps to track the leads, clarify lead ownership status, and nurture the leads through different stages of the funnel.
  • Avoid double-booking: Sell.Do online portal allows realtors to pre-decide which inventory should be accessible to channel partners and highlight the remaining ones as sold out, avoiding double-booking scenarios.
  • Release pay-outs on time: Sell.Do the CRM dashboard displays commission earned by channel partners against each entity as well as the invoice raised and its approval status. Once the invoice is approved, the software automatically disburses the commission earned; ensuring channel partners receive their pay-out on time.
  • Communication: Realtors and partners can engage with each other through Sell.Do online platform. Realtors can provide access to channel partners for personalised login through collaboration software. The portal provided channel partners with all the latest updates and information regarding the realty projects in real-time.  

Sell.Do CRM software with channel partner integration module makes onboarding of channel partners on your platform easy, even allowing them to collaborate with you from Day 1. The software automates various tasks that can improve the productivity of channel partners and aid them in reaching out to more prospects.