The default Deals board has 16 stages, each playing a unique role in the sales process. In this article, I'll take you on a quick tour through each stage and give you a snapshot of what they’re all about.
Deal stage definitions
Outstanding Supporting Documents - When a client has pending documents that need to be requested or followed up on, simply move their card to this stage from the Leads board.
Prepare for Submission - Once the broker team has gathered all the supporting documents from the client, move the card to this stage. Here, the deal gets prepped and polished, ready for pre-approval or formal approval.
App Docs Sent to Client for Signing - Move the card here after the broker team sends the application documents to the client for signing. This stage has a follow-up sequence to ensure the client returns the documents in a timely manner.
Signed App Docs Received from Client - Move the card here after receiving the signed client documents. The broker team prepares the documents for lender submission.
Deal Submitted to Lender - Move the card here after the broker team sends the application and supporting documents to the lender.
AIP Issued - Move the card here when the lender issues an Approval In Principle (also known as Pre Approval).
Conditional / Missing Information Request - Move the card here if the deal receives conditional approval from the lender or the lender requests missing information.
Conditions / Missing Info Requested - Move the card here if one or more parties (e.g. client, broker, agent, solicitor, etc.) request a condition or require information that is missing.
Conditions / Missing Info Sent to Lender - The broker team sends the requested information to the lender.
Formal Approval - The lender formally (i.e. unconditionally) approves the loan.
Mortgage Docs Issued - Move the card here when the lender issues mortgage documents.
Mortgage Docs Returned - Move the card here when the lender receives the mortgage documents.
Ready to Settle - The lender has certified the mortgage documents and is ready to take settlement bookings.
Settlement Booked - The lender has booked a settlement.
Settlement - Settlement has occurred.
Lost / Declined - The deal is not proceeding. BrokerEngine automatically archives the deal, but it is available from the list view.
How to move a deal card
There are two ways to change the Deals stage within BrokerEngine.
A broker team member usually moves a card from stage to stage rather than the broker.
One option is to drag and drop a card from one stage into another. Release the card when BrokerEngine highlights the destination stage and displays a confirmation popup.
The other option is to use the drop-down menu. Select a card, click the three-dot icon, and select Move Board. In the popup, make sure the Deals tab is selected. Click the arrow and select a destination stage on the drop-down.
