What are FTC's? 

  • Bespoke threshold contracts
  • Specialist discounts due to multi branch 
  • Threshold can be specific no matter on service but also on number of branches
  • Longer term contract – 2 year commitment 
  • Minimum of FTC is 12 months 
  • Only a few on essential 
  • The rest are legacy or new package accounts
  • 7 branches normally qualify – a handful of a few multiple


Renewal of FTC's

FTC’s might not renew when they get their renewal date through in which case they would go onto a standard Indie package and account


Why an FTC might not renew their FTC contract:

  • Length of contract
  • Historically they used to get a % rebate – they might get a reduced rebate or % removed

If they do renew:

  • They can downgrade and upgrade but committed to length of contract no matter what they decide
  • Within contract they can upgrade mid-term but can never downgrade mid term 

Current Process: 

  • Can take some time to finalise – options for renewal 
  • A few meetings to ensure decision is made
  • These take several conversations to ensure growth is there and commitment is made

 

FTC Renewal:

  • All renewals have a presenter – options for customer to make decisions 
  • Decisions on price are made and AM will go and pitch these


The Sales Process at sign up 

  • AM requests a letter/form to be created – package shown at top usually

  • Agent has to advertise all branches on Rightmove – different to normal indie contract
  • AD signs it as well as Customer
  • Rates are amended – then Revenue ops letter is created 
  • The letter is essentially the Agents contractual commitment to the FTC renewal
  • Deadline to get the letter in – then deadline for paperwork for AM To get signed FTC contract back in (letter to P&P)
  • Chase done if the paperwork is not in to AM’s and AD’s
  • Checks to see what is out for signature and what has come in


What's the Rev Ops Process?

Rev Ops to send FTC spreadsheet to Nic & Team Leaders – showing:

  • Outstanding – no update
  • Sent out – letter sent out
  • Back in – back so Contracts PPW should be expected

We have monthly updates from Jen on the upcoming FTC’s and Nic & TL's will share this with relevant team members to follow up with AM’s.


What's the Sales Process for Contracts? 

  • Ask AM to call in to talk through paperwork for FTC before sending it for signature – send a draft copy to check from Contracts side
  • Email Coordinator / contractsprioritisations@Rightmove.co.uk 
  • FTC as an internal note on all FTC forms
  • If the contract go live date needs to be pushed back a month due to delays – agreement from AD/AM to speak to agent and advise of potential invoice discrepancy. 
  • Email from AD/AM to agree this has been discussed.


What's the Contracts Process? 

  • Contact AM for an update on potential paperwork to start and prioritise process
  • Ask AM to call in to talk through paperwork for FTC before sending it for signature – send a draft copy to check from Contracts side
  • When paperwork is in – email TL and seniors, so we have visibility of process beginning
  • Within FTC approve form ticket – add notes along the way.
  • Calendar reminders for chases with design
  • Take ownership from start to finish
  • Know the designer 
  • Updates and prompts a week before billing run, follow up with AM’s and AD’s on billing 
  • Once everything back from Design confirm contract changes as per form and before sending go live email send copy of form to TL and seniors to sense check. 
  • Once checked everything correct send confirmation email. 


What's the key things to remember? 

  • FTC’s are our highest revenue contracts in our team – we need to be proactive and vigilante to ensure our customers have a fantastic customer experience with us
  • We need to talk to our AM’s and make sure you have enough time to process the work
  • Let’s ensure the form comes through correctly so it doesn’t cause difficult fixes later on
  • Set reminders in your calendar for chases to speak to AMs for artwork and design to push orders through
  • Discuss and get AD and AM approval of pushing FTC back a month if we do not get everything we need to get the contract live by our cuts offs
  • Ensure you get the contract sensed checked at the beginning of the process and the end by Nic and TLs before sending go live email – a second set of eyes means more opportunity for first time processing
  • Ask questions along the way