Understanding Network Rank

Introduction

Network Rank is HomeStory's scoring system that measures your engagement and success with HomeStory referrals. Agents with higher Network Ranks receive more referrals and have been shown to close 20% more business. This article explains what Network Rank is, how it's calculated, and practical ways to improve your score.

What is Network Rank and Why It Matters

Network Rank is a dynamic score that reflects your activity level, responsiveness, and success rate with HomeStory referrals. 

Our data shows that agents in the top 20% of Network Rank connect with twice as many leads and see a 20% higher close rate compared to the average agent.

How Network Rank is Calculated

Your Network Rank is based on several key performance indicators:

Success Metrics

• Close Rate – What percentage of your valid referrals successfully close.

Responsiveness

• Connection Rate – How consistently you establish confirmed contact with new referrals.

Efficiency

• Speed to Close – How quickly you move clients from initial referral to closing.

Your Network Rank is recalculated daily based on your ongoing performance with HomeStory referrals.

How to Improve Your Network Rank

Boost Your Close Rate

• Prioritize HomeStory referrals in your daily workflow.
• Stay engaged throughout the entire transaction process.
• Address client concerns quickly to prevent deals from falling through.
• Leverage HomeStory's resources to overcome obstacles to closing.

Increase Your Connection Rate

• Enable push notifications to respond quickly to new referrals.
• Accept leads promptly when they become available.
• Try multiple contact methods if your initial attempt doesn't connect.
• Document confirmed connections properly in the app through status updates.

Improve Your Speed to Close

• Set clear next steps after each client interaction.
• Anticipate and address potential delays before they arise.
• Maintain regular communication with all parties involved in the transaction.
• Use HomeStory Pro's mobile capabilities to keep deals moving forward even when you're on the go, such as status updates and submitting escalation requests, when needed.

Frequently Asked Questions

How often is my Network Rank updated?

Your Network Rank is recalculated daily based on your ongoing performance with HomeStory referrals.

Can other HomeStory agents see my Network Rank?

No, your specific Network Rank is private. HomeStory staff can see your rank to distribute referrals, but other agents cannot see your score.

Does my market location affect my ranking?

Yes, Network Rank is market-adjusted. You're compared to other agents in your geographic area to ensure fair rankings, regardless of market size or seasonality.

What happens if I take vacation or time off?

HomeStory has an availability management feature that allows you to inform us when you're unavailable. To set up vacation time:

1. Visit the HomeStory web portal at https://portal.homestory.co
2. Go to Profile > Availability > Edit Availability
3. Add a new "Vacation" period
4. Set your start and end dates

This ensures you won't receive new referrals during your time away and temporarily adjusts your responsiveness metrics.