Co-broker deals: collaborating with another agency
A fellow agent from another agency has a buyer for one of your properties. You agree to work together and share the commission. Such a collaboration is called co-broking. The other agent is the co-broker or partner.
From version 1.30.0 you record such a collaboration in Tesoro as a co-broker deal. Tesoro stores the agreements, sends the partner a confirmation and keeps an eye on the end date for you.
When do you use this?
Section titled “When do you use this?”- Another agency introduces a buyer or tenant for your property
- You want to record until when that client belongs to the partner
- You want to keep the agreed commission in one place
- You want to propose properties to the partner without approaching the client yourself
One-time setup
Section titled “One-time setup”Before you create your first co-broker deal, three things are needed.
1. A co-broker pipeline
Section titled “1. A co-broker pipeline”Co-broker deals live in their own pipeline, with the setting External collaboration (co-broker) enabled. Tesoro already has a Co-broker pipeline ready, with the stages Registered, Proposed, Visit, Negotiation, Won and Lost. This pipeline is hidden by default. An administrator makes it visible. See Setting up pipelines.
2. Designating your own agency
Section titled “2. Designating your own agency”An administrator goes to Settings > Deal Settings and fills in the Own agency block.
| Field | What you enter |
|---|---|
| Own agency | The relation that is your own agency. Only properties linked to this relation count as your own listings. Only those can be proposed on a co-broker deal. |
| Default registration validity (months) | How many months a new registration is valid by default. Default 6, minimum 1, maximum 60. Per deal you can choose a different date. |
Is your agency not in the list? First create your agency as a relation (Relations → Add) and then select it here. Click Save.
3. The partner agency and the partner agent
Section titled “3. The partner agency and the partner agent”- The partner agency is stored in Tesoro as a relation.
- The partner agent is stored as a contact with the role Real Estate Agent, linked to that relation.
- Give the partner agent an email address. That is where Tesoro sends the confirmation and the proposed properties.
Creating a co-broker deal
Section titled “Creating a co-broker deal”-
Open Deals and click Add deal.
-
Under Deal type, choose Buy or Rent.
-
Under Pipeline, choose the co-broker pipeline. A Co-broker registration block now appears.
-
Fill in the block:
Field Required Explanation Client first name Yes First name of the partner’s client Client last name Yes Last name of the partner’s client Partner agency Yes The partner agency (a relation) Partner agent Yes The agent of that agency. Select Partner agency first, then you only see the agents of that agency. Valid until Yes Until when the registration is valid. Tesoro pre-fills: today plus the default period from Deal Settings. Registered via No How the partner registered the client: Phone, WhatsApp, Email or Other Commission type No Percentage or Fixed amount Commission value No The percentage (0 to 100) or the fixed amount Notes No Free text about the agreement -
Under Property, choose the property from your own listings that it concerns. This is required. If the property has a price, Tesoro fills it in as Deal value.
-
Under Status, choose the stage where the deal starts and click Submit.
The client as a contact
Section titled “The client as a contact”Tesoro turns the client into a contact with the role Co-broker lead. You only store the name for that contact. An email address or phone number is not needed.
Does a contact with exactly the same first and last name already exist? Then while typing you see the message Existing contact “…” will be linked instead of creating a duplicate. Tesoro then links the existing contact and does not create a duplicate contact.
A Co-broker lead never gets access to the client portal. All communication runs through the partner agent.
The confirmation to the partner
Section titled “The confirmation to the partner”As soon as you save the deal, Tesoro automatically sends an email to the Partner agent. That email confirms that your agency has registered the client. It states:
- that you do not approach the client directly, and that all contact runs through the partner
- until when the registration is valid
- the agreed commission
- how the client was registered
- the request to respond if something is incorrect
Once the email has been sent, the registration gets the status Confirmed. On the deal’s timeline you see that the registration was created and confirmed.
If the confirmation was not sent
Section titled “If the confirmation was not sent”Does the partner agent have no email address, or did sending fail? Then the status remains Pending. In the registration block you then see: The confirmation has not been sent to the partner agent yet. with the button Send confirmation.
- First give the partner agent an email address on the partner agent’s contact card.
- Open the deal and click Send confirmation.
- You see the message Confirmation email has been queued. After sending, the status is Confirmed.
The registration block on the deal page
Section titled “The registration block on the deal page”On the deal page, the Co-broker registration block is in the sidebar, under Deal Details. At the top of the sidebar you see the label Co-broker deal.
The block shows:
| Item | What you see |
|---|---|
| Status | Pending, Confirmed or Expired |
| Partner agent | The name of the partner agent, with the partner agency below it. Both are clickable. |
| Valid until | The end date with the number of remaining days. From 7 days before the end it is shown in red. If the date has passed, it shows (expired). |
| Commission agreement | The percentage or the fixed amount |
| Registered via | How the client was registered |
| Notes | Your notes |
Click Edit to change Registered via, Valid until, the commission or the notes. You cannot change the partner agency and the partner agent here.
The statuses
Section titled “The statuses”| Status | Meaning |
|---|---|
| Pending | The confirmation has not yet been sent to the partner. |
| Confirmed | Tesoro has sent the confirmation to the partner agent. |
| Expired | The registration has expired. Tesoro sets this status itself. |
Proposing properties to the partner
Section titled “Proposing properties to the partner”Do you want to show the partner other properties too? That works via the Properties tab of the deal.
- Add properties and put them in the Proposed column. You can only add your own properties.
- Click the envelope icon above the Proposed column (Compose an email).
- Tesoro sends the newly proposed properties to the Partner agent. The client receives nothing.
Tesoro sends each property only once. Properties that have already been emailed are not included again. If the partner agent has no email address, you get the message The partner agent on this deal has no email address.
What happens when the registration expires
Section titled “What happens when the registration expires”Every day Tesoro checks the registrations.
- Keep an eye on the end date yourself. The registration block shows the number of remaining days. From 7 days before the end it is shown in red.
- On the end date the registration gets the status Expired. The deal moves to the first stage with the outcome Lost, in the standard Co-broker pipeline the stage Lost. This does not happen if the deal is already in a stage that commits the property; in the standard Co-broker pipeline that is only Won. On the timeline you see Registration expired.
Do you want to extend? Change Valid until before the end date via Edit in the registration block.
Won and lost deals, Tesoro skips. Those do not change.
No Rotting score
Section titled “No Rotting score”Co-broker deals do not get a Rotting score. Contact with the client lies with the partner. You cannot build that contact yourself, so a score would warn you unfairly. Read more about the score in Rotting: deals that need attention.
Frequently asked questions
Section titled “Frequently asked questions”I do not see the co-broker pipeline when creating a deal.
Section titled “I do not see the co-broker pipeline when creating a deal.”The pipeline is probably still hidden, or you chose the deal type Sell or Rent out. The co-broker pipeline is for Buy and Rent. Ask an administrator to make the pipeline visible.
The Partner agent list is empty.
Section titled “The Partner agent list is empty.”First select Partner agency. If the list stays empty, check whether the agent is linked to that relation as a contact with the role Real Estate Agent.
I cannot add a property on the Properties tab.
Section titled “I cannot add a property on the Properties tab.”Check whether an administrator has selected your agency under Own agency in Settings > Deal Settings, and whether the property is linked to that relation. Only properties of your own agency can be on a co-broker deal.
Can I email or call the partner’s client?
Section titled “Can I email or call the partner’s client?”No, that is the agreement in co-broking. That is why Tesoro does not ask for the client’s email address or phone number, and the client does not get access to the client portal.