Rex has revolutionised its reporting capabilities to modernise the way agents report on performance. It has launched three new live dashboards which cover agent performance, current inventory, and sold listings.
Rex says the dashboards will save admin staff time copy-pasting and double entering figures, while negotiators will be able to track their performance at a glance.
Agency managers, owners and directors will be able to see their entire pipeline and overall team performance, helping them to make more informed decisions.
Agents can set privileges so that certain users can see certain dashboards, but Rex says those firms which are committed to agent performance visibility across the board can make them public to increase accountability and encourage healthy competition between staff.
"Agency reporting can be tedious and often inaccurate when it's a series of cobbled-together spreadsheets that require daily manual updating," says Tom McCarthy, Head of Product at Rex Software.
"Our opening series of three live dashboards were created to solve their biggest pain points in the current approach, communicating an agency’s sales data-story and providing the opportunity to explore the ‘why' questions."
A simple way to monitor an agent's performance
The Agent Performance Dashboard can be used by negotiators to track their own performance, as well as by managers and directors to monitor how the team is performing.
It shows key information at a glance such as an agent's average commission rate, appraisal to listing ratio, listing to sales ratio, average days on market, total attributable commission and more.
"The new dashboards are a time-saving and accountability tool, helping to make sure everyone is working towards the big goals," explains Anton Babkov, CEO of Rex Software.
"A powerful tool like this not only allows agencies to celebrate where they are smashing it, but also provides insight into where they can step up activity and improve performance."
Manage precious pipelines and prioritise work
The Current Inventory Dashboard allows agents to monitor their upcoming sales pipeline and forecast inbound commission.
The information provided in this dashboard, such as active market appraisals, new listings and deals under contract, can be used as a talking point for sales meetings, helping to increase motivation and transparency.
"The uncertain and erratic nature of the market as a result of the pandemic and the stamp duty holiday means it's increasingly important for all team members to understand the current pipeline of the business," Babkov adds.
"They can prioritise deals effectively and ensure they are doing all they can to fill gaps when market activity could drop-off around key dates such as the new stamp duty holiday deadlines in June and September."
Track revenue and overall business results
The Sold Listings Dashboard allows agents to see all their sales data and subsequently understand where their revenue is coming from.
It also provides a simple way to take stock of the 'bigger picture', automatically filtering to show an agency's performance compared to the previous year.
Meanwhile, the dashboard allows staff to see monthly gross commissions and a leader board of the top negotiators.
Babkov says that although the majority of agents will already have been keeping track of this key information, the at-a-glance nature of Rex's new dashboards save a significant amount of time, drive better performance and allow strategic decisions to be made more easily.
"Combining the insights of the three dashboards can provide a powerful insight into the performance of your agency quickly and efficiently, an invaluable tool in such a fast-moving and competitive market."
"Everything the modern agent does should be fuelled by data and our main aim when developing the new dashboards was to make this data more accessible and digestible, so agents can spend more time putting the data to work," he concludes.
Who are Rex?
Rex Software is a CRM and automation platform for estate agents created by the team at Rexlabs, a 90-strong prop tech with offices in Brisbane, Australia and London, UK.
Rex incorporates the essential tools of any successful property CRM and gives users access to them all with just a few clicks. It includes a mobile app, integrations and analytics, as well as marketing and prospecting tools.
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