- Originally published at Inman News - Marian McPherson
Compass CEO Robert Reffkin said the brokerage’s new AI-powered Performance Tracker tool will enable agents and team leaders to track gross commission income, sales volume and other data.
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NYC-based real estate firm Compass has added a new agent productivity tool to its tech platform, according to an announcement on Monday.
The tool, simply named Performance Tracker, enables agents and team leaders to seamlessly track closed gross commission income, closed sales volume, closed deals and average transaction price on a simple-to-use dashboard integrated with the Compass CRM and Business Tracker.
In addition to tracking sales metrics, Compass affiliates can set annual individual and team sales goals. After creating a goal, the Performance Tracker uses company-wide CRM and Business Tracker data to provide tactical guidance.
The tracker can make recommendations on the number of contacts to connect with per day, help users edit their goals based on past performance data and send helpful reminders about buyer and seller sales conversion rates.
Agents and team leaders can edit goals by clicking the view annual team goals button at the top of the dashboard. At the bottom of the pop-up with the goals summary will be a second button that allows users to make edits.
Compass Head of Coaching Courtney Smith said the Tracker is paramount in helping Compass affiliates supercharge their productivity with simple, data-driven insights.
“Performance Tracker helps agents visualize their path to success, providing clear benchmarks for achieving desired targets,” Compass Head of Coaching Courtney Smith said in a statement on Monday. “Whether an agent aims to reach a specific commission figure or close a certain number of deals, Performance Tracker calculates the required actions and targets to achieve those goals.”
The Performance Tracker is the latest in a line of pivotal tech updates for Compass, which in 2021 outlined its plan to create the ultimate all-in-one platform for its agents.
Over the past month, the NYC-based brokerage introduced title and escrow integration in Southern California, and its luxury arm launched its first international referral program with Paris-based brokerage BARNES International.
Robert Reffkin
Both moves align with the brand’s goal to create lifetime clients, something co-founder and CEO Robert Reffkin has stated is crucial to Compass’ long-term performance and profitability.
“Ninety percent of buyers and sellers say they’ll work with their same agent again, but only 12 percent do,” Reffkin said in 2021. “Now I know you’re top agents, so your number is probably higher than 12 percent.”
“But I also know how painful it is when you lose touch with even one of your clients and they end up listing with somebody else,” he added. “What we’re going to give you, it’s going to be a repeat and referral goldmine,” he said.
“Just imagine anyone who starts working with you stays with you forever.”
