MASTERKEY BLOG

A Client-Based Approach to Real Estate for an Enhanced Customer Experience

Buying and selling a home is such a personal process. Whether you are a broker or an agent, you need to know exactly what your client wants and needs to find the perfect home to suit their lifestyle. Additionally, purchasing a home is a major financial investment, your clients need to feel comfortable with you and your recommendations. Once a real estate agent establishes a level of trust with your client, it’s part of your responsibility to put the minds of your potential clients at ease. We've put together a few tips to give your current and potential clients exactly what they need for an enhanced customer experience. Start with Communication When you’re building a new relationship, especially when it comes to something as personal as selling or purchasing a home, most reservations and concerns can be resolved through the art of communication. Start by taking the time to understand what they want out of their home. What is their price range? What features are they interested in (i.e., how many bedrooms, a large backyard with a pool, etc.)? Understanding these details will help to create a solid foundation for your future partnership. As you start to show potential homes, be sure to keep them in the loop. An agent that walks a prospect or client through all the steps in the process will help them to relax and trust that they are in good hands. Always Keep Your Word If you make a promise, be sure to keep it. Do what you say, when you say you will. Reliability will build a bridge to trust. This is especially important with new clients. Part of building trust is following through with all those promises you made while you were working to gain their business. - If your client is selling their property - How many open houses did you promise to conduct? What marketing efforts did you discuss to sell their house fast? What steps did you tell them you would take to ensure their home was priced to sell? - If your client is purchasing a home - How many houses did you tell them you would show them a week? What neighbourhoods did you tell them you would search? New relationships are fragile, any slip-ups may cause problems during the sales process. If you fail to execute your promises, your clients will immediately question their choice to work with you. Your clients need to know they can rely on you. This will ensure they continue to use your agency in the future, as well as refer you to their friends and colleagues. Provide Data to Backup Your Reports Your track record with previous client speaks volumes. Nothing provides proof like solid, relevant data. For those clients who you either just started working with or are discussing a potential relationship with, let your stats do the talking for you. For example: - What is the average amount of time your listings have been on the market? How many homes have you sold this year?- How close did you get to list price for the majority of your property sales?- How many homes did you sell above market value? Knowing what you have done in the past for other clients will help to build trust with new clients. Smart Technology Solutions for Real Estate Professionals Technology is a critical component to the success of a real estate business. Staying up to date with the latest technological solutions allows real estate agents to offer an enhanced customer experience to potential clients. Many reputable real estate agents use transaction management systems to track all their real estate dealings and administrative tasks. Additionally, you can leverage the power of technology to give your clients instant access to potential listings and virtual home tours. Masterkey Professional At Masterkey, we're not just a software provider, we are a partner on your path to streamlined growth and efficiency. Masterkey Professional provides clients with comprehensive, innovative, and user-friendly solutions to enhance client experience and boost productivity.   From standard technical support to building custom solutions to meet your needs, Masterkey is with you all the way. If you are interested in learning more about other benefits of real estate software click here or contact a member of our team to take your business to the next level. We look forward to hearing from you.

The Benefits Personalised Real Estate Software For Your Business

The Benefits Personalised Real Estate Software For Your BusinessOne benefit of conducting business in the age of technology is the ability to leverage innovative solutions to streamline your operations and increase profitability. However, you’re still on the fence when it comes to investing in professional real estate software solutions.   Many real estate businesses, property managers, and brokers never consider using professional software solutions for their businesses. And when they do, they make the mistake of opting for something right out of the box. More...

Masterkey connects agents to 60,000+ listings in open Multi-Listing System (MLS)

Masterkey connects agents to 60,000+ listings in open Multi-Listing System (MLS)  Masterkey users can connect their listings to appear in the UAE's first truly open Multi Listing System. Users can enjoy high visibility and a broad distribution of their listings. Connecting to the MLS gives users access to all of the listings in the market as well as advanced search features and powerful digital tools to keep them at the top of their game in an increasingly challenging market.More...

Maximize Your Reach with the New Portal Zone

Maximize Your Reach with the New Portal ZoneAt Masterkey, we understand that your time is valuable and every second in the real estate industry counts.  That’s why we developed an in-depth control panel designed to give you a complete overview when it comes to where and how you list your properties online. In the new Portal Zone, we’ve centralised access to over 50 web portals, all in one convenient location within Masterkey, allowing you to manage, monitor and market your properties, easily and efficiently. Simply login to Masterkey, click on the “Marketing” module  and select “Portals”.   With the simplified Portal Zone, you can: View and manage all of your listings, as well as your company’s totals   See the status of your listings and when the portal was last updated   Contact the portal directly through the Masterkey application     Ready to get listing? Log in to Masterkey now.    

Check out the new and improved email composer

We’ve completely revamped the email composer in Masterkey for a cleaner, more responsive design, added formatting and layout options, and created a bigger text box for your messages! With the new formatting and layout options, similar to what you would find in Microsoft Word, it is now much easier for you to highlight important text in your email, make bullet points and numbered lists, and change the text size. If you copy and paste emails into the composer, you can also strip old formatting using the ‘remove formatting’ button to ensure a consistently formatted email.   The above is all fine and good, but we’ve saved the best for last... You can now include links to your property unit cards when you send emails to your leads. With the new composer, you can simply search for units to include inside the body of the email directly. You’ll no longer have to go through the unit zone one by one to look for units, which will certainly save you a lot of time. We’re not done yet... With our next release comes the ability to send emails to multiple leads in one go, unit cards, mail merge and all. It’ll be the same smooth experience as before but with a lot more options available. We’ll keep you posted on the progress through our blog or better yet, follow us on Facebook for all feature updates.   By Abbas Hayat, Director of R&D and Consulting

Power through your leads with a Power Hour

Power through your leads with a Power Hour      Have your clients ever said they feel neglected? That you never got back to them? We fight with constant interruptions and lets face it, as much as we may want to, we don’t get back to our customers as often as we should. So, why not try scheduling a power hour? The objective of a power hour is to have a set time daily or weekly to focus on providing great service for your customers. This can be done through consistent communication where you stay informed with what they want, how they’re progressing and what they feel is next. So let’s take a look at the tools you need to maintain contact with your leads - especially those with whom you haven’t talked to recently. What does a Power Hour entail? It’s faster than ever to user Masterkey to work through your list of leads. You’ll need: A dedicated hour to contact customers A computer and phone Masterkey open and ready to go What part of Masterkey helps me with this? The Masterkey sidebar allows you to quickly action leads such as: Log a call Send an SMS Send an Email Postpone a lead View latest activities Close the lead For a group of leads you can: Close all leads Transfer all leads Mark all as read Mark all as unread Send a mass email to all leads See: how to power through leads How do I get started? Use either the lead zone or sidebar to see a list of your leads. We recommend using a sidebar report, such as ‘Open Leads Buyers’ You may want to spend the first day or two just closing leads that you’re not in touch with any more. It’s better to have a clean list to work with. Now sort the list by ‘My Last Activity’. This will allow you to show the oldest leads first. Go to each lead and call / email / SMS them. As you do this, you can use ‘Log a call’ or even ‘Send SMS’ This also automatically logs an activity against the contact. Do this daily and within a week you’ll have a clean list of active leads to chase. What is lead escalation? Lead escalation helps by automatically marking leads in red after a set time period so you know which ones are being missed. Managers can also use this to help their teams to close leads and keep in touch. You can set up lead escalation rules through our support team. It’s completely optional, but we do recommend it. Based on user feedback, we’ve set some guidelines for how often you should be in touch with your clients. Masterkey can modify this based on your specific requirements if needed.   Residential Commercial Tenant 2 days 3 days Buyer 3 days 3 days Landlord 7 days 14 days Seller 7 days 14 days Learn more about the lead escalation feature.  

FAQs for Masterkey Clients on Airlist

Airlist.com has just launched in Dubai. Here’s what you should know. What is Airlist exactly? It’s a lightweight listing tool designed to help agents who don’t already have a system to publish listings onto portals. Should I give Airlist a try? Absolutely! It’s good to know what options are available in the market and you can earn credits by recommending it to other agents. Can I share my Masterkey listings on Airlist? Yes, any Masterkey client can instantly publish listings on Airlist. Can I use both, Masterkey and Airlist, at the same time? Yes, but make sure to add new listings in Masterkey then share them to Airlist. What benefit do I gain from using both? Increased visibility for your listings. Airlist is a place where agents can share listings with each other for free regardless of which system they use in their office. You’ll be able to use the full CRM features of Masterkey with the wide exposure of Airlist. Should I switch from Masterkey to Airlist? No. Airlist only allows you to publish your property listings online whereas Masterkey offers the same listing power with full CRM features. What are the features of Airlist that Masterkey doesn’t have? All the features of Airlist are already available in Masterkey. Is Airlist owned by Masterkey? No, Airlist is a spinoff from Masterkey, founded by Daniel Hart, Masterkey’s CEO and built by the development wizards behind Masterkey. You can be assured of the same professionalism, security and innovation that have been evident over the last 10 years of Masterkey.

Empowering your agents through lead caps

Empowering your agents through lead caps  Lead generation is essential in making money in a real estate role.  Having a constant stream of clients looking to buy or sell ensures a steady flow of commission for the agent.  In the company’s perspective, closed leads means increased revenues. As a manager heading a group of real estate agents, what will you do to ensure that leads are being tracked, updated, and chased until closing? Do your agents have enough leads to work on? Are they bombarded with too many that they can hardly prioritize which one to act on first? Working in a commission-based role is financially rewarding especially when the agent has a lot of properties to sell or lease.  The more time and effort an agent exerts into building leads, addressing prospects’ needs and promoting their listings through various channels, earning more is within reach. Masterkey has developed a key feature that will allow you as a manager to place  limits--or caps--on the number of leads each agent is allowed to handle at one time.   What is the importance of the lead cap feature? The benefit of the new lead cap feature is twofold: First, we’ve introduced a new rotation type called ‘My listings only’ which indicates that the agent would like to receive leads for those units which he/she has is the listing agent. This feature is excellent for large companies in which agents do not wish to receive unwanted leads and  would rather prefer to focus on their own units and areas. Secondly,the lead caps feature can control the maximum number of leads an agent is allowed to manage at any point in time. This encourages agents to more efficiently manage their open leads, keeping only the active ones in their list. . This feature also notifies agents if he/she can still accept leads or not.   How does it work?   Masterkey’s lead rotation has 3 types: On rotation means you are available to receive lead referrals   Off rotation means you will not be able to accept leads (e.g.  if you are on vacation or otherwise unavailable).   My listings only means that you will only receive leads related to listings for which you are the listing agent.    Here are the different lead rotation statuses in Masterkey: As a manager, you will be able to see each agents’ status, whether they are ‘On rotation’, ‘Off rotation’, or ‘My listings only’ and all relevant information will become available to your call center agents and other staff. As an agent, you can select your rotation status as ‘On’, ‘Off’, or ‘My listings only’. These statuses will be displayed to the coordinators or call center agents who can then assign leads accordingly to the team. In addition, guidelines can be linked to a role to enforce certain rules for the maximum number of leads an agent is allowed to have. Different roles can then be assigned to different agents. For example, if Lead Cap rule is: ‘Total number of open leads (all types of leads) should not be > 150’ Then the lead rotation status will automatically be switched to ‘OFF’ if the total number of open leads for that agent exceeds 150. Once the total number of open leads drops below 150, then the Lead Rotation status will revert to ‘ON’. Want to start using Lead Caps? Check out the Knowledge Base articles below to get started.   How to turn lead rotation On/Off/My Listings Only How to control the maximum number of leads an agent can have at a time Put agents on rotation as an admin/manager  

Notifying clients on upcoming and overdue invoices just got easier

Notifying clients on upcoming and overdue invoices just got easierAutomatic notifications for due invoices     A critical part of property management is monitoring overdue invoices.  Without a proper system and an effective policy in place, your company will be vulnerable to painstaking collections problems.  Accumulating late payments can affect your cash flow and harm your bottomline.    Each company has its own approach to  informing tenants of upcoming payments that usually involves a series of letters and phone calls to encourage them to pay on time.  Communication normally starts on a friendly note, but the tone becomes more serious and insistent as payments become more and more overdue.   With Masterkey, our tenants instantly receive automated reminders of upcoming and overdue invoices, keeping them informed and always up-to-date. From a business standpoint, Masterkey also enables property managers to notify their accounts team about clients with overdue payments. This also gives the accounts team a head start in tracking overdue invoices and sending the necessary communication to tenants accordingly. Keeping your receivables flowing smoothly and eliminating the chances of overlooking overdue accounts are just some of the benefits that Masterkey brings for property managers which greatly impacts your business.   Find out how you can use our Automated SMS Messaging.

Introducing our brand new feature: Workflow

Introducing our brand new feature: Workflow    For almost as long as Masterkey has been around you’ve had the ability to manage “Activities”. This allowed you to create and manage tasks either for yourself or for your colleagues within your real estate business. Instead of using an external task management tool, activities could be assigned to your team as needed, directly from inside Masterkey.   Workflow is the ultimate refinement of activities within Masterkey. You can now map out your internal steps that are needed for different processes, for example for every time you're listing a unit or every time there’s a transaction.   Let’s assume a new listing comes to your agency. Next, a team needs to go onsite, inspect the unit and take pictures. Later, another team needs to double check and publish the listing online. Then another set of steps need to be taken when a tenant or a buyer comes. A number of documents need to be collected from the landlord/owner and from the tenant/buyer. Not to mention, the sequence of activities are as important as the actual transaction to make sure everything is done smoothly. (So many things to do and documents to submit by different people!)       In summary, to list, inspect, publish and complete the transaction of a unit, there is a sequence of tasks that need to be done, requiring the collaboration of different departments and different persons along the way.   Workflows allow your team to automate the creation of these processes and activities, and you can manage the overall operation. You can now define different lists of activities for different types of jobs, where at each stage, one individual or group will be responsible for the completion of a specific task. Once a task is completed, Masterkey will notify the next responsible group or individual to execute their stage of the process.  The notifications for newly assigned tasks play the key role in the smooth running of the defined workflow.   It will save your team the headache of finding tasks amongst the hundreds of emails received a day, and you can stop noting down things you have to do on stickies and to-do lists! By automating your workflow, you have one streamlined mode of communication, and one common dashboard where all your incoming and outgoing requests are placed, along with details about which stage in the business process they are at.   Want to start using Workflows? Go the help section here to learn how: How to: Create Workflows How to: Insert a Workflow on an object How to: View the status of the Workflow Otherwise we’re always available to help you train and implement this inside your company!