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Are you getting all you can out of the Realty Management System? There are literally hundreds of reports you can review to make sure you are properly managing your office. Listed below are just a few and what to look for when reviewing these valuable reports. 2.P.2 – The Pending Transaction/Trade Report. This will give you an idea of what money you have coming into the office. When running the report, it will run a year from today and group by month. At the bottom, it shows "Aging by Weeks" and "Aging by Months". This will give you an idea of what is coming in through the pipeline and is a great resource for budgeting. This should be properly maintained and old transactions should either be moved to a later date or changed to fallen through. For a version of this report with the Agent's name go to 8.5.N.2. 2.P.4 is the menu to run the Agent Ranking Report. Most brokers and administrators are only paying attention to the agents at the top of the report, but take a close look at those at the bottom. These are agents that either need coaching or need to be let go. 2.P.5.6 – The Commission Cutting Report. When running this report you can enter a fixed percentage (ie.3%) or an office average to display the "lost commission dollars". This will display a dollar figure for you and the agent to see how much money they have left on the table as a result of cutting commission. A valuable tool when talking contract renewal with an agent. 8.6.6. is the Uncovered Expense Report. This report shows you what an agent owes in outstanding expenses (O/S Expenses) versus what they have in pending deals in the next 30, 60 and over 60 days effectively identifying your agents at risk. 8.F.2 is the Agent Net Worth Report. With this report you can identify whether you are profitable on a per agent basis. This report will show you what an agent has brought into the company compared with the brokerage operating costs for a net worth or profit on the agent. (Note: The allocation of operational costs must be set in F.F.2 whether the cost is divided by (A) number of agents or (V) the volume an agent has done). 8.F.P is the Agent Performance Analysis. With this report you can identify agents that have not hit any one or all minimums that you set. For example, select to see any agent that has had less than 1 listing in the last eight months, less than 2 sides, $250,000 in volume, $7500 in Gross Commissions and less than 2% per side. You can then choose an agent who hits all these minimums or any one of these minimums. For more information or if you are looking for a particular report contact support at support@lwolf.com or by phone (866)CRY-WOLF. |
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