Every property within LockedOn is at a particular stage of the property lifecycle - and where a property fits in to this lifecycle is determined by it's status.
Firstly, we will show you how to update a property status - then dive into the property lifecycle, and the meaning of each status.
Updating a property status
Click on Properties in the main menu
Search for / select the property you wish to update
Running vertically on the right hand side, you will see a property summary section, starting with a property image and bed/bath/car details.
Click the Update Status button found below the bed/bath/car details.
Select the new property status from the dropdown list, and click the green Update Status button under the dropdown box.
NOTE: The default property status for a newly created property is Potential.
Understanding property status
Every time a property undergoes a change in how you are interacting with it, it moves to a different stage of the lifecycle. The stages of the lifecycle are:
Prospect - Part of your farm area, with very little contact information known.
Potential – All contact details stored, relationship building in progress, potential listing if well maintained. This will also be any purchaser who has purchased a property from you / your office.
Appraised - Property has been appraised, appraised tab filled.
Lost Appraisal – You appraised this property but unfortunately they listed with another agent.
Listed - The property is now listed and you are selling the property. Winning!
Exchanged -- Sale price and terms are agreed by both vendor and purchaser. Legally binding contracts have been signed by both parties and exchanged.
Unconditional - Sale contract cooling off period has now expired and the property in unconditionally exchanged. Awaiting settlement.
Settled -Property has now settled and ownership has legally changed, sale of the property is complete.
Taken off market - The property was previously listed, but was taken off market.
Competing - a way of tracking a competitors listings.
Setting the right status will affect your dashboard stats and reports. It will also make it easier to sort and market properties based on their position in the lifecycle.