To meet their targets, Real Estate businesses usually rely on the sales team to achieve it. But changing customer taste and over-reliance on the sales team has enabled developers to look for an alternate solution. To fill this vacuum, developers have slowly started working with channel partner management companies to boost their sales and increase brand presence.
Real Estate channel partners act as advisors and sales professionals instead of just brokers and are accountable for the sale of realty projects. The selling services are made but not bound to pre-agreed time, and for this, channel partners earn set fees or commission. The implementation of RERA and GST has made the role of channel partners in the Real Estate sector quite vital.
Some of the advantages of working with channel partners are:
Guarantees property sale
Unlike a broker, a channel partner offers assurance for the sale of the property. Their database has info on a higher number of leads, aiding them in reaching out to more prospects and increasing selling opportunities.
Property promotion and marketing
Channel partners deploy their marketing strategy in synergy with the developer’s strategy to promote the product. They take complete ownership of the project’s marketing in hand -from property listing to generating leads to digital marketing and much more, ensuring that the developers can focus on the construction aspect of the property.
Resolve cash crunches
Channel partners underwrite the property based on the developer’s finances and property value to understand the deal’s worth. Developers can use this amount to resolve cash crunch issues and finish property construction on time.
Homebuyers can rely on channel partner management for end-to-end assistance and services, including free property visits, after-sales services, assistance in home buying, documentation, etc. Even though channel partners offer many advantages to developers, they face quite a bit of challenge while dealing with Real Estate companies.
Below are some of the challenges faced by in-house sales reps and channel partners and how Sell.Do online portal can simplify these hassles:
Deciding the commission structure
Channel partner solution companies work on a commission-based structure. If the commission structure isn’t pre-decided or the incentives offered aren’t appealing, it might affect the motivation for channel partners and hamper overall sales.
To counter this problem, Sell.Do offers an integrated incentive calculator through their Real Estate CRM software that inspires channel partners to broaden their lead pool and close leads quicker. The collaboration software allows developers to automatically integrate their incentive ladder logic in the portal for all the projects and channel partners with the varying commissions and automatically calculate premiums for them.
Constant communication is required with leads throughout different stages of the funnel to convert them. Yet channel partners find it difficult to track them. The primary reason for that is they don’t have software which can save past conversation with leads. Channel partners get paid for converting leads, so if a lead is leaked through the funnel, it affects their compensation.
With Sell.Do’s CRM, channel partners can save leads from various mediums in the database and use that to track and nurture the leads. This will help them in increasing conversion chances as well as their remuneration.
For big projects, it is common for conflicts to arise when channel partners promote the same property for which the deal has already been closed by an internal representative. This might cause tension and differences between the two and affect the overall sales of the project.
Through Sell.Do, an online portal, developers can pre-decide the inventory that will be accessible only to channel partners and not disclose the ones available for their sales reps, ensuring both teams are focused on their set of inventories.
Release pay-outs on time
One of the common challenges faced by channel partners and sales reps is that they cannot raise the payment request for leads or track their status, leading to delay in deal conversion.
With Sell.Do, developers can provide access to channel partners for raising payment requests and tracking payment status towards bookings. They can also help customers to complete the online KYC process through the portal, ensuring the deal isn’t kept on hold due to such technicalities.
Communicate the latest updates
Often sales reps send property availability updates, new launches brochures, price changes, and project details manually to channel partners. This creates an information lag between the partners and affects the smooth functioning of their sales process.
Sell.Do provides an online platform for developers and partners to engage with each other. Through collaboration software, sales reps can grant access to channel partners for personalised login to get the latest updates and information regarding the projects, strengthening the relationship between the two along the way.
Sell.Do Real Estate CRM software provides an array of features that will increase your channel partner solution companies and sales representatives. From on-boarding, communication to compensation, our CRM software assists in creating the channel partners as an extension of your sales team. Contact Sell.Do today for a free demo and see how we can help your business towards a brighter future.