A Tool for Visualizing Your Transaction Pipeline

If you walked into any brokerage 10-15 years ago, you probably would have seen a board somewhere on the wall that listed all of the office's current transactions.

With more agents working remotely today, those transaction boards are quickly becoming a relic. However, there are digital tools available that can help you visualize your brokerage's sales activity in a similar (and often superior) way.

One recent favorite of ours is Brokermint, a young company based in San Diego that offers a back office and transaction management platform. What caught our eye is the prominent transaction pipeline on Brokermint's welcome screen. At a glance, brokers can see all of their active, pending, and closed listings, along with the net value of each.

"The pipeline is about giving brokers more visibility into their business," says Andrew Chishchevoy, Brokermint co-founder. The company updated the pipeline feature in May, adding new filters that lets brokers view numbers like total office net, office sales volume, and office gross for all transactions.

Brokers can click into individual transactions in each funnel section, and from there see everything about the transaction--including commission details, documents, actions that need to be taken, a complete activity log and more. It's an easy way to keep an eye on your bottom line and the progress of each transaction. (For more details on Brokermint's transaction management capabilities, read our product review.)

Pipeline as Agent Motivator

Monitoring your office's income is just one use of a pipeline. You can also use it to motivate your agents. Agents have access to their own personal version of the pipeline in Brokermint that shows only their listings and transactions.

The pipeline gives agents a quick idea of their projected income for the month, and how much they can grow that income by if they close the transactions in their funnel in time. To that end, clicking into any transaction will show agents exactly the tasks they need to complete in order to do that.

If you check-in with your agents on a regular basis about their performance, the pipeline can be a helpful focus of conversation. Because the pipeline also displays data from previous months with the value of both closed and canceled transactions, you can talk to the agent about their productivity trends over time. You can also chat about the number of current transactions and what needs to be done to close them.

Wrapping Up

There are other pipeline visualization tools out there (Contactually has one, for example), but they are largely tied to the marketing side of things and track things like leads, qualified leads, and active leads. Brokermint, on the other hand, is tied to transaction data and can help brokers with everything from compliance, coaching agents, to monitoring your profit and loss.

Regardless of the solution you use, your pipeline is a valuable instrument to manage your business.