There are several key reasons why vendors tend to withdraw including cold feet, a change in circumstance or, after a while, a lack of confidence in your ability as a business to sell the property.
But whether or not the end result is out of your control, it’s always important to track why your customers are withdrawing as it enables you to address any prevalent trends, and ensure you take proactive measures to reduce the future likelihood.
Withdrawal Analysis dashboard in AgencyCloud
The Withdrawal Analysis dashboard, one of the Management Information (MI) dashboards in AgencyCloud, provides built-in, real-time analysis of your withdrawn sales property data, enabling your staff to spot trends and easily highlight properties at risk of withdrawal.
All the withdrawal figures are pulled directly from journal activity and property records, so no need to manually extract and double enter data.
You can report on one or more offices and select any month(s) over the last year. And when viewing the results, each statistic links to the relevant record, enabling you to see where the data is from.
Find the dashboard from the main menu via Reports, and then MI Analysis.
Getting the most out of your Withdrawal Analysis dashboard:
- Use the Withdrawal to Instruction Ratio to track how often your agency loses business after instruction. A high percentage indicates an underperformance, prompting you to review whether conversations with vendors are being recorded in full, or price reduction negotiations are being had.
- The dashboard also highlights properties At Risk of Withdrawal – specifically those with No Recent Activity and No Offers – allowing you to click through to each high-risk property and action as necessary to help retain the instruction. It may also raise questions as to why vendors are going uncontacted, or again, if conversations with them are being properly recorded.
- The Withdrawal Reasons and Instructions Lost To panels give you an appreciation of why vendors leave and to which competition, so you can compare service levels and make the appropriate adjustments to avoid losing further business. It also poses questions as to whether property is frequently being overvalued; is it the same competition winning your vendors; or have competitors spotted a weakness in your service offering enabling them to methodically tout stock.
Feature Focus Podcast - Ep 7: Withdrawal Analysis
Learn more (available to Reapit customers)
Want to find out more about this feature? Visit the Knowledge Base to see our comprehensive guide on the Withdrawal Analysis dashboard. Alternatively, you can contact your Customer Success Manager to discover how you can get the most out of your AgencyCloud software.