2. Introduction
The world has become tech savvy - period. Both the Buyers and Sellers that we
encounter are not only online, they expect us to be so as well. For that reason,
Coldwell Banker Elite has created the iTeam concept. This program will utilize
the Realogy LeadRouter system and our other current tools and services to
increase client retention and engage the ever-growing online consumer
segment.
iTeam
The Coldwell Banker Elite iTeam will consist of dedicated individuals who are
provided specialized training in the development and retention of online
consumers. This team will be required to attend one iTeam Training per year.
Classes will be held every quarter in the first year of the start of the program and
then each six months thereafter.
Prerequisites
The iTeam participants will have the following prerequisites to join and stay on
the team:
1. Must have attended the Coldwell Banker University LeadRouter
Mandatory AGENT Training-Online – Self Paced
2. Must have a complete and up-to-date Coldwell Banker Profile
3. Must have a complete and up-to-date Coldwell Banker Website or
their own personal website
4. Must have a complete and up-to-date REALTOR.com Profile
5. Must have MRIS MLS access and MLS access for any other service area
were service is provided and MRIS is not the primary MLS.
6. Must have the appropriate lockbox key/card for the services that are
being served (key/card may not be borrowed.)
7. Must have a CRM such as Elite Prospector, MyRealEstateTools or other
similar program that allows client management and marketing.
8. Must attend the required annual training. Those agents who join the
Company in between Company Training dates and meet all other
requirements may meet with the LeadRouter staff for a personal
training prior to the next training date.
Compensation
iTeam members will be issued company generated leads that are pre-screened
and sorted by the LeadRouter team. Because of the immense expense to the
company to generate these opportunities, the Company does charge a referral
fee.
LeadRouter Guidelines | 2011 | Coldwell Banker Elite, Inc. | Page 1 of 4
3. iTeam members are reminded that this referral fee offsets costs the agent would
otherwise incur for generating their own referrals and business. The referral fee
can be considered a loss-leader to getting the opportunity to assist this client
and get potential referral business from that client.
Referral Fees
Any Buyer or Seller clients and all associated transaction sides closed within 18
months from the assignment of the client, will yield a company referral fee. The
referral fee is 25% and the agent/brokerage split is 50%.
Rental clients accepted by the iTeam member will have no associated referral
fee, but will yield a 50% split. Any rental lead that is converted to a buyer will
have no company referral fee and the commission split will be based on the
agent’s current company agreement.
Use of LeadRouter
Listing agents will have client inquires from their own listings automatically routed
to them via LeadRouter, so long as they are in compliance with the system. If
they are out of compliance or they opt to not accept these leads, the clients will
be redirected to the normal LeadRouter rotation.
All iTeam members must utilize and maintain client leads in LeadRouter. Agents
who are out of compliance (red status) will not be given any leads from the
LeadRouter team until brought back into compliance.
Online Buyer inquires are automatically routed to Listing Agents, so long as they
are current in LeadRouter. Listing Agents do not have to be members of the
iTeam in order to receive leads on their own listings.
Response Times
The response time of clients to the online consumer’s inquiry is crucial to the
success of the retention process. Agents, upon receiving a LeadRouter lead, will
call the consumer within 15 minutes upon receiving the information, unless the
consumer has specified an alternative means of contact as their preference.
The LeadRouter team will call the next agent in rotation by geographic area.
Should the first agent in rotation not answer their phone or text, a message will
be left. If the agent does not call the LeadRouter team back for the assignment
within 10 minutes, the LeadRouter team will begin calling the next agent in
rotation, but not leave a message. They will issue the lead to the next qualifying
agent who promptly answers their phone or text.
LeadRouter Guidelines | 2011 | Coldwell Banker Elite, Inc. | Page 2 of 4
4. Dispositions in the LeadRouter System
iTeam members will be required to maintain an accurate “Action” related to the
client within LeadRouter.
Agents marking leads as “Dead - Unable To Convert” has resigned the client
from an existing agency relationship and the lead will be returned to the
LeadRouter team for long term incubation. The lead will be re-issued to the next
iTeam member who is eligible and in rotation for that client’s geographic
location, should the client decide to buy, sell or rent in the future.
Agents marking leads as “Dead - Do Not Contact” are doing so only because
one or more of the following status:
• The Consumer states that they have an agency relationship with another
REALTOR®.
• The Consumer directs the agent and/or the Company to discontinue
communications for any reason.
• The Consumer has completed their real estate transaction and moved out of
the area, but only when that move precludes any reasonable chance of a
future transaction.
• Consumer has completed their Real Estate transaction.
Agents may mark “Bogus Lead - Bad Contact Information” only when the ALL of
the available information has proven to be false. Lack of a response from the
consumer does not mean that the contact information is “bogus”. Examples of
this would be disconnected phones, error-message returns for email addresses
and mailing addresses that do not match the tax records would be cause to
mark a lead as “Bogus”.
Mortgage Referrals
All Buyer-Consumers will be referred to an approved Coldwell Banker Mortgage
Loan Officer by the LeadRouter staff upon first substantive contact with the
buyer. iTeam members are expected to support the consumers use of the
Coldwell Banker Mortgage programs.
“Preview” Homes
Any Seller inquiry made through the LeadRouter system, that denotes a sales
price of greater than $550,000 will be issued to an iTeam member who is a
“Previews” designee through Coldwell Banker University. Should none be
available, the lead will be issued to the next iTeam member in rotation by
geographic area.
LeadRouter Guidelines | 2011 | Coldwell Banker Elite, Inc. | Page 3 of 4
5. Commercial Inquires
Any Commercial Client will be assigned to Commercial Agents within Coldwell
Banker Elite. Such agents do not need to be members of the iTeam.
Property Management Inquires
Any inquires for Property Management or requests for a home to be rented will
be issued to Property Management.
Confidentiality
Due to requirements of the Virginia Administrative Code and the REALTOR®
Code of Ethics, all Agents shall refrain from discussing any details about their
assignments or clients with anyone in the company other than their Managing
Broker, the Vice President or President.
Agents are not permitted to provide any specific or personal information to the
LeadRouter team or other agents. Breach of this confidentiality will be grounds
for removal from the team and may have other consequences under the VREB
and REALTOR® review process.
Communications and Changes
With the exception of lead assignment, all communications, policy changes and
notices will be done by email, with the email account listed on the company
directory. Any changes to this policy conveyed by email will supersede any
parts of this policy which are in conflict.
Coldwell Banker Elite and it’s management have the right to modify this policy
at any time.
Availability
Any iTeam member who will be unavailable for incoming leads for longer than 5
days (example: vacations) must notify the LeadRouter team, by email of their
lack of availability. They must also notify the LeadRouter team when they return.
Final: September 1, 2011 | Effective Date: October 1, 2011
LeadRouter Guidelines | 2011 | Coldwell Banker Elite, Inc. | Page 4 of 4
