VII. Opportunity Overview
Opportunity (Standard): This object is used to manage deals and track their current status, ensuring that sales processes are effectively monitored and managed.
We have customized the opportunity as below to better manage and track deals.
| Field Label | Field Type | Pick List Value | Description |
|---|---|---|---|
| Close Date | Date | NA | The expected date when the opportunity will be closed. |
| Stage | Picklist |
Prospecting Site Visit Bank Finance Approval In Process Bank Finance Approved Negotiation Sold |
Tracks the process of the opportunity. |
| Deal Lost Reason | Picklist |
• Buyer Changed Mind • Location not preferred • Security concerns • Loan application denied • Higher offer accepted • Terms not agreed |
Reasons why a deal might be lost. |
| Project | Lookup (Project) | NA | Stores the related project name. |
| Building | Lookup (Building) | NA | Stores the related building name. |
| Unit Type | Picklist |
Shop 1 BHK 2 BHK 3 BHK |
Stores the type of unit the customer is interested in. |
| Payment Plan | Lookup (Payment Plan) | NA | Links to the payment plan related to the opportunity. |
| Real Estate Agent | Lookup (Real Estate Agent) | NA | Links to the real estate agent involved with the opportunity. |
| Sales Person | Lookup (User) | NA | Stores the name of the sales person handling the opportunity. |
| Lead Source | Text | NA | Comes from the lead source |
| Bank Finance | Text | NA | Store the bank finance details associated with the opportunity. |
| Bank Finance Status | Checkbox | NA | Indicates whether bank finance has been secured. |
| Bank Finance Percentage | Percent | NA | Shows the percentage of bank finance approved. |
Once an opportunity is in the Prospecting stage, the sales user will contact to the customer to gather and fill out all relevant details such as Project, Building, Sales Person, Unit Type and added if any real estate agent is included in this deal.
Created a Real Estate Agents Object in salesforce and customized as follows:
After that Sales user will identify all the units that meet the customer’s criteria and budget. After finding suitable options, the sales user presents these units to the customer, helping them find the best match for their needs.
After the customer confirms their interest in a unit, the sales person adds the selected unit to the Opportunity’s related tab “Opportunity units”.
To connect the opportunity and units created a custom object called opportunity units.
Opportunity unit: This is a junction object that connects the Opportunity with the Unit and stores all crucial details about the unit sale.
The Opportunity Units object includes several key fields:
| Field Label | Field Type | Pick List Value | Description |
|---|---|---|---|
| Opportunity Unit Number | Auto Number | NA | An auto-generated number for identifying the unit sale record. |
| Opportunity | Lookup (Opportunity) | NA | Links to the related opportunity. |
| Project | Lookup (Project) | NA | Links to the related project. |
| Building | Lookup (Building) | NA | Stores the related project name. |
| Building | Lookup (Building) | NA | Stores the related building name. |
| Unit Type | Lookup (Unit) | NA | Links to the specific unit number. |
| Area | Number | NA | The area of the unit, taken from the added unit. |
| Selling Price | Currency | NA | The selling price of the unit. |
After adding the units to the opportunity, the sales user will reach out to the customer and provide them with the details for a site visit.
Once the customer has completed the site visit and is ready to buy the unit, the sales user will show them the payment plans and their details.
An Opportunity in Salesforce represents a potential sale or business deal that is being worked on. It is associated with an account and tracks the sales process from lead conversion to closure.
Opportunities in Salesforce are tracked through various stages such as Prospecting, Qualification, Needs Analysis, Proposal/Quote, Negotiation, and Closed Won/Lost. These stages help sales teams monitor the progress of each deal.
Opportunities are created automatically after a lead is converted, or they can be created manually by navigating to the Opportunities tab and selecting “New” to enter details about the deal.
Yes, Salesforce allows you to customize Opportunity stages to match your business’s sales process. You can define stages, probability percentages, and the associated expected revenue.
Opportunity tracking helps sales teams monitor the progress of each deal, forecast revenue, and ensure timely follow-ups to close deals efficiently.
In real estate, Salesforce allows you to track property listings, viewings, offers, and closing stages of deals, ensuring streamlined management of opportunities for each property.
Yes, Salesforce provides tools like Process Builder and Flows to automate aspects of Opportunity management, such as follow-ups, task creation, and status updates.
A Lead represents a potential customer who has shown interest, while an Opportunity is a qualified lead that is in the sales process and has a higher chance of converting into a sale.
