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Managing Investment Sales Projects

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Information

 
Summary
-
Previous: Working with Listings-Related Lists

A Project is the third stage of the Pipeline.

To create a new Project:

  1. Either
    1. Click Convert from a Listing
    2. If on a Company, Contact or Property record, navigate to the Project related list and click New Project.
    3. If on the Project home page, click the New button.
  2. If the Project is not created by clicking Convert on a Listing, select the appropriate Record Type
  3. Fill in the Appropriate Fields
    1. Some key fields for a Seller Representation Project Include:
      1. Project Name - This is a required field. Apto suggests using a uniform naming convention for all of your Projects. An example would be Client Name - Date, or Property Name - Date.
      2. Seller - This is a lookup to the Contact Object. It is the lead seller contact involved in the project, the decision maker who will ultimately decide whether the property trades or not.
      3. Seller Company - This is a lookup to the Company Object. If left blank this field will automatically fill itself in with the Company associated with the Seller entered in the previous step once the record is saved.
      4. Buyer - This is a lookup to the Contact Object. It is the lead buyer contact involved in the project, the decision maker who will ultimately decide whether the property trades or not.
      5. Buyer Company - This is a lookup to the Company Object. If left blank this field will automatically fill itself in with the Company associated the Buyer entered in the previous step once the record is saved.
      6. Property - This is a lookup to the Property Object. This is the property under contract. If the property is a portfolio of properties you will need to create a portfolio property in the Property Object.
      7. Status - The status of the project. This is used in views and reporting to determine if a project is Active, Closed, or Dead.
      8. Commission ($) - Used for forecasting potential commission. This will automatically fill in a value on the commission related list.

Note

  • Certain fields will all be filled in if the Project was created by hitting Convert from a Listing.
  1. Once the record is saved the Commissions related list will automatically create a record.
    1. If the Record is Converted from a Listing it will retain the commission structure created on the Listing.
    2. If the Project is created new:
      1. The Project will have one related commission record at first.
        1. It will Assign 100% of the fee on the deal to the user who created the Project.
      2. ii. In order to edit this or add additional Internal Agents (Users) or External Agents (Contacts) click Edit Commission
  2. To add Internal Agents click Add Internal Agent
    1. Enter their percentage of the deal
  3. To add External Agents click Add External Agent
    1. Enter their percentage of the deal
      1. The Total % must equal 100% before saving the record.
  4. If the Project dies
    1. Modify the Status to Dead.
  5. If the Project is Closed
    1. Click the Convert button
      1. Once the Convert button is clicked the system will work to create a Comp record.
      2. The Status of the Project will be updated to Closed
      3. The Commission record(s) will be moved from the Project to the Comp iv. The Comp will be named the same as the Project
      4. The Seller, Seller Company, Buyer, Buyer Company Property, Commission ($), Contract Price and Record Type will all be pulled through to the Project
        1. Record Type = Sale
 
Next: Working with Projects-Related Lists

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