Tech Review: FiveStreet

by Matt Dollinger

stars-01

What is it?

Five Street aggregates, distributes and immediately gratifies online leads from all major syndication platforms and other generation services. By incorporating automated follow up, customized routing options to others on your team, (or referral sources), and basic reporting metrics, Five Street helps to take the headache out of online lead management.

How it works

New users are walked through a simple and painless integration of online lead sources including Trulia, Zillow, Realtor.com and over 40 of others. They then have the ability to configure the system one of two ways. 1) Through their gmail connector (for Gmail or Google Apps accounts) which scans all incoming emails for lead information or 2) through their proxy email system which provides users with a specific email to use for lead distribution. New sources can be easily added, (such as company or personal website leads), by forwarding lead emails to the Five Street support team.

After configuring their lead sources, agents are prompted to create “teams” or distribution lists of other agents that they would like to send leads to. There are three highly functional aspects regarding routing in the Five Street system:

1. First, every lead received can receive not only an autoresponse email, but a text message as well. This could say something as simple as, “Sorry in a meeting – is this the best number to call you in 5 minutes?” providing immediate gratification for the consumer and buying an agent time in between meetings.

2. Second, all agents within a group are notified of a lead opportunity at the same time via email and text. This opportunity includes much of the property information the consumer is inquiring on however does NOT send their phone or email. Only after physically accepting the lead does the agent receive their contact information. This creates competition to expedite response time within your organization and creates reporting metrics as to which agent has accepted leads quickly.

3. Third, agents are able to configure multiple levels of distribution based on an internal timer. For example, users can create a system where all leads are sent to one agent initially, routed to a group of agents in 2 minutes if that agent does not accept it, and finally send that to a referral agent or admin manager if it has still not been accepted. This assures that leads are not slipping through the cracks and each one is being followed up with accordingly.

Five Street also understands that successful agents are out doing business and has created a fully functional mobile interface for lead management, lead routing and configuration of your account. Lead notifications are clear and functional, allowing agents to take action on the go, while allowing team leaders to accept or route leads easily from any mobile device.

The Good:

Five Street allows agents to manage all online leads in one place. Their proprietary lead consolidation technology allows for the gathering of leads from any email-based lead source and currently works with over 40+ providers. Setup is super easy with their Gmail Connector and the configuration of lead flow has a simple, well-designed interface. Five Street also integrates with popular lead management, software such as MailChimp, BombBomb, Contactually and Top Producer.

The Bad:

Lead tracking and reporting are good but basic – viewable by timeline, source and general location. Team leaders have very little insight into lead follow up with after acceptance and users cannot specify particular sources to route to specific teams. Also, keep in mind that some lead sources do NOT send the actual email address of leads and so proxy emails (source.lead123@source.com) will be logged into the system.

The Bottom Line:

Five Street is a great solution for brokers and agent teams looking to route and manage lead distribution. Where stand-alone agents may benefit from the aggregation of leads into one centralized location and basic auto-responder/text, Five Street is best suited for those serving as “rain maker” to an agent team or broker. Overall, this service deserves attention for consolidating, routing and integration of leads into more robust follow up systems.

Tech Specs:

•Solo Agent ($19/mo.)
•Team Edition ($49/mo.) – lead routing for up to 4 members ($10 each additional members)
•Brokerage Edition ($199/mo.) – lead routing for up to 20 members ($5 each additional members)
•iOS- and Android-compatible; Web-based, so works with any system
•To purchase: https://www. fivestreet.com/pricing

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