Help Center : How to create a new Closed Deal: Part 14 - Link Project

In this tutorial, we will go over a couple of scenarios that would warrant using this feature, how to complete the process, what the various options are, and how to navigate between linked Projects and Closed Deals.

Instructions

A Project is any kind of transactional record that is managed as an internal deal.

In this context, that includes general Projects (of course), but also Availabilities, Needs, Tenant Prospects and Buyer Prospects.

Basically, any kind of deal on which you can track Pipeline details or anticipated commissions before a deal has closed.

The purpose of the Link Project form is to effectively close out two separate records in CoStar Brokerage Applications that actually represent the same transaction, without creating duplicate Closed Deals.

For example, if your firm was hired to list a space for lease but also represented the tenant who eventually signed a lease for that space.

Depending on your internal procedures and at which stage you start tracking a deal in CoStar Brokerage Applications, you may have started out with an Availability for the space for lease and a Project or Need record for the tenant’s requirements.

Once the lease is executed, you would typically transition the Availability into a Closed Deal. However, that still leaves the Tenant Project or Need record open.

Linking the Project to your Closed Deal allows you to move or copy information from the Project to the Closed Deal, removes the Project from Pipeline reports and active Project searches, and adds a clickable link to both the Project and the Closed Deal so you can navigate directly from one to the other.

Another example is when a tenant signs a lease that consolidates two of your Available Spaces. In that instance, you would transition one Availability to a Closed Deal and link the other Availability to that deal.

Start by finding your Project. Click on the magnifying glass to open a search modal.

Use the filters at the top to find the Project, then click “Select”.

You should now see the name of the Project you selected on the Link Project form.

Below the Project field are several options for copying or moving information from the Project to the Closed Deal. Team refers to the Project Contacts. Milestones and Activities are project management features. Activities include Tasks, Events, and Marketing Activities. Deal Share refers to the allocation of anticipated commissions among internal brokers. Project Fields contain data on the Deal Settings form.

The final option is meant for Availabilities and changes the Listing Status of the Project you selected so the record is no longer included in Availability searches. If your CoStar Brokerage Applications data feeds into your public website, that public listing will also be removed.

Please note: If your listings download automatically from CoStar or LoopNet, and you are linking one of those Availabilities to a Closed Deal, you’ll still need to update that listing in CoStar or LoopNet manually.

Let’s complete the process of linking a Tenant Rep project, which in this case is a Need record. This Need includes some Milestones, Tasks, one Event, and a couple of Notes. The client – i.e. the Tenant – and two Procuring Brokers are on the Team.

After selecting the Need, check all of the options that will merge activities and notes to the Closed Deal. In this case, you don’t need to select the option to change the Listing Status, since this is a Need and not an Availability.

Click Continue to complete the linking and merging process.

Notice that the Tenant and Procuring Brokers are now listed on the Contacts tab.

And after completing the Closed Deal workflow, you can see that the Milestones, Tasks, Events, and Notes from the Need now show up on the Closed Deal.

Any Closed Deal or Project that has been linked using this feature will also have the option to navigate to its linked counterpart on the dashboard. Clicking “Linked Project” or “Linked Closed Deal” will open the dashboard of the linked record.

If you don’t link a Project during the initial process of closing a Deal, you can initiate the Link Project feature from the Closed Deal’s dashboard. Just click on the “Link Project” option at the top to open the form.

Click here for the next tutorial.

Help Center : How to create a new Closed Deal: Part 14 - Link Project

Instructions

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