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Program Guidelines Policy Date | September 2011
IntroductionThe world has become tech savvy - period. Both the Buyers and Sellers that weencounter 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 utilizethe Realogy LeadRouter system and our other current tools and services toincrease client retention and engage the ever-growing online consumersegment.iTeamThe Coldwell Banker Elite iTeam will consist of dedicated individuals who areprovided specialized training in the development and retention of onlineconsumers. 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 andthen each six months thereafter.PrerequisitesThe iTeam participants will have the following prerequisites to join and stay onthe 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.CompensationiTeam members will be issued company generated leads that are pre-screenedand sorted by the LeadRouter team. Because of the immense expense to thecompany to generate these opportunities, the Company does charge a referralfee. LeadRouter Guidelines | 2011 | Coldwell Banker Elite, Inc. | Page 1 of 4
iTeam members are reminded that this referral fee offsets costs the agent wouldotherwise incur for generating their own referrals and business. The referral feecan be considered a loss-leader to getting the opportunity to assist this clientand get potential referral business from that client.Referral FeesAny Buyer or Seller clients and all associated transaction sides closed within 18months from the assignment of the client, will yield a company referral fee. Thereferral fee is 25% and the agent/brokerage split is 50%.Rental clients accepted by the iTeam member will have no associated referralfee, but will yield a 50% split. Any rental lead that is converted to a buyer willhave no company referral fee and the commission split will be based on theagent’s current company agreement.Use of LeadRouterListing agents will have client inquires from their own listings automatically routedto them via LeadRouter, so long as they are in compliance with the system. Ifthey are out of compliance or they opt to not accept these leads, the clients willbe redirected to the normal LeadRouter rotation.All iTeam members must utilize and maintain client leads in LeadRouter. Agentswho are out of compliance (red status) will not be given any leads from theLeadRouter team until brought back into compliance.Online Buyer inquires are automatically routed to Listing Agents, so long as theyare current in LeadRouter. Listing Agents do not have to be members of theiTeam in order to receive leads on their own listings.Response TimesThe response time of clients to the online consumer’s inquiry is crucial to thesuccess of the retention process. Agents, upon receiving a LeadRouter lead, willcall the consumer within 15 minutes upon receiving the information, unless theconsumer 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 willbe left. If the agent does not call the LeadRouter team back for the assignmentwithin 10 minutes, the LeadRouter team will begin calling the next agent inrotation, but not leave a message. They will issue the lead to the next qualifyingagent who promptly answers their phone or text. LeadRouter Guidelines | 2011 | Coldwell Banker Elite, Inc. | Page 2 of 4
Dispositions in the LeadRouter SystemiTeam members will be required to maintain an accurate “Action” related to theclient within LeadRouter.Agents marking leads as “Dead - Unable To Convert” has resigned the clientfrom an existing agency relationship and the lead will be returned to theLeadRouter team for long term incubation. The lead will be re-issued to the nextiTeam member who is eligible and in rotation for that client’s geographiclocation, should the client decide to buy, sell or rent in the future.Agents marking leads as “Dead - Do Not Contact” are doing so only becauseone 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 ofthe available information has proven to be false. Lack of a response from theconsumer does not mean that the contact information is “bogus”. Examples ofthis would be disconnected phones, error-message returns for email addressesand mailing addresses that do not match the tax records would be cause tomark a lead as “Bogus”.Mortgage ReferralsAll Buyer-Consumers will be referred to an approved Coldwell Banker MortgageLoan Officer by the LeadRouter staff upon first substantive contact with thebuyer. iTeam members are expected to support the consumers use of theColdwell Banker Mortgage programs.“Preview” HomesAny Seller inquiry made through the LeadRouter system, that denotes a salesprice of greater than $550,000 will be issued to an iTeam member who is a“Previews” designee through Coldwell Banker University. Should none beavailable, the lead will be issued to the next iTeam member in rotation bygeographic area. LeadRouter Guidelines | 2011 | Coldwell Banker Elite, Inc. | Page 3 of 4
Commercial InquiresAny Commercial Client will be assigned to Commercial Agents within ColdwellBanker Elite. Such agents do not need to be members of the iTeam.Property Management InquiresAny inquires for Property Management or requests for a home to be rented willbe issued to Property Management.ConfidentialityDue to requirements of the Virginia Administrative Code and the REALTOR®Code of Ethics, all Agents shall refrain from discussing any details about theirassignments or clients with anyone in the company other than their ManagingBroker, the Vice President or President.Agents are not permitted to provide any specific or personal information to theLeadRouter team or other agents. Breach of this confidentiality will be groundsfor removal from the team and may have other consequences under the VREBand REALTOR® review process.Communications and ChangesWith the exception of lead assignment, all communications, policy changes andnotices will be done by email, with the email account listed on the companydirectory. Any changes to this policy conveyed by email will supersede anyparts of this policy which are in conflict.Coldwell Banker Elite and it’s management have the right to modify this policyat any time.AvailabilityAny iTeam member who will be unavailable for incoming leads for longer than 5days (example: vacations) must notify the LeadRouter team, by email of theirlack 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