Let me just quickly you define what these particular things mean. So what goes into active? So active covers everything in pop deal from the different stages here, from lead in all the way through to contract. That is what’s considered your active column and your active count inside your dashboard.
I’m just going to hope this loads up quickly. So that’ll be any leads that are from when you initially get it lead in all the way through into contract. So we understand that some of you guys have quite a lot of deals within your contract stage.
So do take that into account when you’re looking at your active count because those do still take time to work. And so although they’re not active new clients, there’s still active leads or active transactions that you need to allocate X amount of time. So if you’ve done a lot of transactions, of course your active count will be quite high.
So bear that in mind when you’re actually calculating how many you have in active and what the right active number you should have. So what is an active lead? So for me and for the managers, we agree that an active lead should be something that you’re actively working on, that you’re either trying to get hold of and speak to. So a new lead you’ve actually spoken to, that you’re about to get out, you’re someone that’s preparing for doing a viewing or you’re doing an offer.
And it should typically be someone that is looking to go out in the next three to four months. Again, these aren’t hard and fast rules. We’re just giving you guys a bit of framework, a bit of advice, and a bit of structure about how to manage your pop deal and how to manage your active clients versus hold clients and then also when you should release some as well.
But to give an idea, people that are in your active column should be responsive, they should be giving you the information that you need to actually get them out. And you should be preparing to either take them out on a viewing or get them through to an offer. And I would ideally keep people that are 1234 months off actually being ready to go for reviewing, but have committed either the detailed information to you about what they want and the time frame they’re looking to actually go out.
So if someone’s not necessarily giving you a time frame, you can make a call to keep them inactive or move them to hold. We’ll talk about hold in a second. So again, so active is people that are in the main five stages that have given you information about what they want, that you’re preparing to do some kind of viewing or transaction with and that you’re actively working on.
I would avoid keeping too many clients in your active column if they’re not engaged because it just gets very cluttered when you look at, again, I’m going to use sorry, Bow again, bow, as an example. His pop deal was very clear. He’s got 56 people in active, of which eleven are in contract, which means he’s only got 45, my math, 45 clients that he’s actively working on.
So he knows these are the ones he’s got to speak to to get out viewings. These are the few that he’s met and he’s got one offer that’s currently pending. So it’s a very clear if you have too many people in your active columns, it can become very difficult to manage.
There’s going to be a lot of activities, there’ll be a lot of follow ups, there’ll be stuff being manually or force released that may not necessarily need to be that you can move them to hold. And I would avoid keeping clients that are unresponsive for too long. So if you’ve done what? Last week’s session, you’ve really tried your best with non responsive clients to reengage them, to send them information, to provide insane amount of value, to try and get them to come back to you.
And they still haven’t responded after all the follow ups and the apps and adding them on LinkedIn. If they haven’t done that after your persistent behavior, then I would definitely look at about a three to four week process and look to either release those leads. If you’ve done your absolute best, then it’s time to move on and focus on other clients.
We have a lot of new clients coming in that you guys are getting access to, so keeping people too long in your active column could just make it very difficult to manage any new clients coming in, your existing clients. And remember, within the active column, you need to update at least every 14 days. So if you don’t do that, you risk the chance of getting it, fortunately.
So keep a manageable amount in there that you’re happy to follow up every 14 days. That moves me on to Hold. So Hold is, let’s click here on this one as well.
Hold is for clients that you have qualified, you’ve spoken to and you’ve got their full profile. They’re looking for, but may not be ready to view or buy in the next three, four months. They may be six months off, they may be twelve months off, they may not even give you an official time.
They want to buy or rent. So this is the area you can hold clients to make sure that you don’t need to update them as regularly. They’re still in there as future potential, but they’re not the ones you’re actively engaging every 14 days.
This gives you a much better chance to hold back on clients that maybe are still in the discovery stage. They’re not sure what they want exactly, they’re not sure when they’re coming exactly, but use the hold column to manage these clients effectively. So, given the amount of leads we generate, I would be very specific about how many clients you want to have in your hold section.
We haven’t got any hard and fast rules right now, and Brennan will talk about it next week about how many clients you should necessarily have in the hold section. But when I look through some of the other agents in the company, it seems to be that most people are not holding more than between 20 to 40 clients within their hold section. That’s a really interesting statistic.
If you’re suddenly holding loads and loads of clients, you have to ask yourself if you’ve got enough time to follow up with them. If you are going to give those guys a service, and if you actually want them in your popular don’t just keep clients that have big budgets and that you want to focus on that may buy in the future. Keep clients in your hold section that you think are definitely worth the follow ups, definitely worth adding value to, and definitely going to buy or rent in the next foreseeable future, and that are worth your time.
There’s no harm in releasing a lead that you’re not 100% sure about, and avoid keeping ones that look good on the information but are just not responsive to you. They’re not really replying. You might have had a first initial call and had a good call with them, but then when you follow up and ask for more information and they’re not giving you anything else, you can move them to hold.
But then I would review that a month or two later. If they’re really not responding, I would potentially release the leads. But we’re going to talk a bit more about releasing a lead in the near future.
And the other thing you need to do is make sure you update those guys in hold. So the system currently asks for a 60 day update, but if they’re in hold, it means they’re coming hopefully in the next six or twelve months to buy or rent. And I would make sure that you update them.
Ideally every 30 days you just check in, giving them an update on maybe what’s sold or what’s rented or what’s available, any new units that have come on the market, any other market data or information you need to keep those hold guys really engaged to make sure they do come back to you in the future. If you neglect them and you don’t give them any attention, then you’re likely to not have the engagement. So moving people to hold just as a future thing doesn’t work, moving people to hold to remind yourself to actually follow up on them in 36 days is what you should use it for.
So the next part 1 second. So let’s just talk a bit more about the Active versus hold, the book value. So active versus hold equals book is this number here.
I did a lot of research today and I looked at some of our higher performers that are doing a lot of transactions a month and some of our more new joiners that are just starting to perform. And there doesn’t seem to be an exact number across sales or rentals that you guys should be working towards. But there is a correlation between people that are managing their book number on a monthly basis and kind of keeping it.
For sales, it seems to be around 40 to 60 seems to be the optimum level, and for rentals, it’s about half of that. So if you’re looking at your book value and seeing you’re holding 9100 and ten clients, you may have to review your process and see, am I being efficient with people who are in my Active and people that are on hold? And I would look to release some of those leads so you can have an optimum book value. How many you have in Active, how many you have on hold is totally up to you.
We’re not giving you any set rules. There’s no performance metric necessarily that judges that. But I think you can see from here looking down, that it varies between 30.
But this is for sales in Phuket, for example, anywhere from around 40 in your Active to around 20 seems to be quite common, and anything from around 30 to 40 in your hold to around ten. So this should give you a good idea about what sort of number you should be working towards, and I try and keep it at that optimum level again next week. We’re going to talk a bit more about the tiers and the structure and how many booked value you should have, but we’ll cover that on next week’s call.
Okay, so I’m just going to give you guys some updates today because this is a good forum. There’s about 120 people on this call right now that we need to cover. So every Friday there’s going to be a survey go out, and that survey gives you guys a chance to give us really genuine, constructive feedback, which we’d love to hear from you.
So I think you already had one last week. We’re getting a few comments in passing. When we’re drunk, I think we want to avoid the Friday drunk feedback.
We want the structured Friday survey feedback. We’re going to change the rhetoric, so please fill that out. It’s your chance to say what’s good, what’s bad, what needs to change, where you need help.
So please, please reach out because there’s a lot of things changing and moving around, and we’d love you guys. Just to help us improve, help us give you more training. Whatever you need, fill out that form.
Also remember that every two months we need to relog in and re register for this webinar. So when that new registration comes out, which should be soon, please re register and make sure you’re tuned into these webinars. There’s going to be some other speakers come on the next couple of weeks that speak a little bit slower than me and on different subjects so you can join that.
The other thing we need to bring up is, again, just what I mentioned before, there’s a lot of changes. We’re trying to restructure the business slightly. So we’ve actually launched a new Google Space structure or Google Chat structure.
So on the left hand side, you see we’ve updated a number of groups to say updates. These groups will basically be where the managers or heads of department will make announcements, they won’t be where you can update. So check those groups for any updates, any changes, any new processes that are rolled out.
And I would recommend that you actually pin these groups to the top of your chat. So I’ve done it here, I’m just going to show you how I did it. So you basically just go here and you click Pin and that should pin it to the top of your thing so you can easily stay updated on any of the updates in the company.
The other one we’ve done is the help. So there’s a number of different help errors. Yes there is bugs on Pop deal, yes, there’s bugs on the website.
We always appreciate you guys giving us feedback on where the issues are, so please use these help desk. If you are going to use the help groups, make sure you create a task. So it’s very easy for whoever’s looking at those help groups to actually click the task as done.
So make sure you help us out of any feedback and create the task. And then the chat groups on the right hand side are for you guys in your dedicated areas to all talk among yourself. You can share properties, you can share information, you can share whatever, you share announcements.
Those ones are for you guys to communicate in a centrally to all the people in your team. So feel free to use those chat. I wouldn’t put too many silly jokey things in there.
The OD one’s okay, but try and keep it more work focused so it actually helps the rest of the people in the team. Okay? So the survey is also going to go out after this webinar about what you guys need more deeper explanation or help with for Pop deal. Well, so please fill it out because I want to do a much more structured Q A type scenario tomorrow just to answer those couple of questions.