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Here are some commonly asked questions about MYCE.
What is MYCE?
MYCE is an online portal developed to serve South African Real Estate Agents. It hosts a collection of canvassing, property valuation, marketing, deal tracking, client relationship management and POPI compliance tools, all in a single integrated system.
MYCE was developed to help Agents build lasting and impactful relationships with their clients, and in so doing help them get more leads, sell more property and earn more commission.
What does MYCE offer you?
CRM stands for Customer Relationship Management. CRM’s typically are online systems that allow you to add existing client data records as well as prospect data records of people you hope to do business with. There are thousands of CRM solutions available, but unlike any other CRM MYCE comes pre-populated with all current homeownership deeds data for the suburbs that you work in.
So what exactly does this mean? Well, think about this for a moment: If you are a Real Estate Agent that works in 3 suburbs, and there are 5 000 properties in each suburb, that means you need a database of 15 000 homeownership records. A Real Estate Agent usually pays anywhere between R4,50 and R11,00 for one homeownership record, meaning you would have to spend an enormous amount of money to buy a database you need just to populate your CRM.
Do I have to pay per search? Can I find contact details outside the areas that have been shared to me?
No, you don’t have to pay per search. You can perform unlimited searches from within MYCE and find homeowner details for any homeowner in any suburb.
How much does MYCE cost?
Whether you are an individual agent or the owner of a real estate business or franchise, we have an affordable MYCE pricing solution for you.
Our individual package (R595 per month vat exclusive) gives you access to:
- a pre-populated CRM module.
- a marketing module.
- a POPI compliance workflow.
- a referral module.
- a deal tracker module.
- reporting and unlimited online training and support.
If you are an owner of a Real Estate business of franchise, please get in touch with us here. One of our MYCE representatives will contact you to discuss your requirements in order to prepare a personalised quotation for your business.
How often does MYCE update their database?
We update our deeds database every week. Every second of every day, data is generated from several different sources, some of which change more often than others. These changes, which happen across hundreds of different attributes, are then used to update your MYCE profile.
Why, then, might you come across contact information that has a date stamp from 2014?
We will never provide a date stamp for contact information that does not come from a valid source in order to give the appearance that our information is “fresh”. Rather, we understand that if someone bought a cell phone in 2014 and no further updates have been received by any credit bureaus, then that 2014 number is the most up-to-date and reliable data that currently exists for that individual.
We will give you the right version of the data all the time, every time, backed by the promise we made when we registered to become a credit bureau in 2014. Click here to read more about this.
Can you import current CRM’s into MYCE?
Yes, you can import data into your MYCE profile.
We give you access to an easy-to-use import template. The template allows you to import data headers like an identity number, first and last name, email address, cellular number etc.
Please remember that the last thing you want to do is import data that is not validated or complete. This will impact the quality of your database, and we highly recommend that you only add contacts to your MYCE profile once you have found the contact in the MYCE Trace Module.
This means that every contact in your MYCE profile will have an ID number, first name and surname, which will enable us to keep your database enriched for you.
What happens when I cancel my MYCE Subscription? Can I get my data back?
Should you cancel your MYCE subscription, we are able to give you an export of the data you have captured in your MYCE profile. This excludes any data that Dracore has imported into your profile.
How will POPI affect my business?
The Regulator encourages all public and private bodies to ensure that they put systems and processes in place to ensure compliance with POPI while there is still time. This is because non-compliance comes with serious consequences.
Every single Estate Agent needs to ensure they act to secure the integrity and confidentiality of personal information in their possession or under their control by taking appropriate and reasonable measures to prevent either damage, unauthorised destruction or unlawful access to personal information. Agents will also be responsible for ensuring that the aforementioned is achieved by taking reasonable measures to;
- Identify all foreseeable internal and external risks to personal information in their possession or under their control.
- Establish and maintain appropriate safeguards against the risks identified.
- Regularly verify that it’s safeguards are effectively implemented.
- Ensure that safeguards are continually updated in response to new risks or deficiencies in previously implemented safeguards.
- Have due regard to generally accepted information security practices and procedures which may apply to them, specifically and generally, or be required in terms of specific industry or professional rules and standards.
How is POPI going to impact Estate Agents?
Real Estate Agents currently use email and SMS messaging as a marketing channel. When these channels are used, it is compulsory to give data subjects the option to opt-out from your direct marketing communication.
Post the promulgation of POPI, no Real Estate Agent will be allowed to send any form of electronic communication to a data subject without prior consent. The Real Estate Agent must ensure they have a system to record and audit-trail all opt-ins and opt-outs.
The final POPI regulations also confirm that when an opt-in is confirmed, it needs to be followed up with a written confirmation using FORM 4, in terms of regulation 6.
MYCE provides Real Estate Agents with a full POPI management workflow to ensure they can demonstrate that they have taken all reasonable steps to comply with POPI. Once POPI is promulgated, Real Estate Agents will not be allowed to buy personal information (names, surnames and ID numbers) and that is why we encourage all Real Estate Agents to subscribe to MYCE and to ensure business continuity after POPI is promulgated.
How much do SMS credits cost?
Our SMS credits cost R0.25 (25c) each. We sell SMS credits in a minimum bundle of 100 credits. Each credit enables you to send a message containing a maximum of 160 characters. To purchase SMS credits please email email@example.com.
How much do Email credits cost?
How much do Email credits cost? Our Email credits cost R0.04 (4c) each. We sell Email credits in a minimum bundle of 5000 credits at a time. To purchase Email credits please email firstname.lastname@example.org.
Why you should buy Email credits?
MYCE gives you the option to purchase email credits and send emails across a bulk email service to mitigate this risk.
What do Property Valuation Reports cost?
MYCE has partnered with a team of geospatial experts to provide our clients with a unique online property valuation tool that you can use to obtain an estimated property valuation in today’s market.
Our property valuation reports cost R18.00 per report vat exclusive. To purchase tokens, please email email@example.com.
How are Property Valuation Reports calculated?
We estimate a property’s market value using the most recent sales data and the historical sales of properties inside that suburb. We also use deeds data, spatial data layering and statistical tests to improve the quality of our reports.
We consider the historical transfer prices of all properties to develop a quarterly linked escalation rate for each suburb and property type. This rate is used to escalate the most recent transfer price and determine the estimated market value of a property. Each property’s valuation is assigned a confidence level. If no selling price is recorded, or a low confidence level is assigned to the given market value, the property will be assigned a market value range (low and high) depending on the neighbouring properties or suburb valuations.
We also use various other logical checks, adjustments and mathematical modelling to review what the escalation rate in a suburb has been over time. The model then breaks down the escalation rate data into full title and sectional title property types.
There are many considerations when providing you with a market-related valuation. We recommend that serious sellers combine our estimated property valuations with other variables, such as the property’s condition, location, amenities and upgrades that can’t be identified using technology.
Can I use MYCE on my laptop, iPad and smartphone?
MYCE is a responsive website application. This means you can access MYCE on any device using your unique login details.
Can I share my MYCE login details?
This is an absolute NO. MYCE does not allow for simultaneous login sessions and tracks all login activity.
Should your login details be shared we will audit the login patterns, and should it be identified that your login details have been shared, your account with Dracore will be suspended immediately.
Dracore takes security seriously, and so should you. Every single company and Real Estate Agent has a responsibility so far as POPI is concerned to which we will ensure that all MYCE subscribers comply.
Do suburbs include extensions?
When you select a suburb that has extensions, we will include the extensions as part of the suburb you select. This will be imported into your profile.
How secure is my data?
Dracore takes data security very seriously. We employ the services of Cyber Security Experts who regularly run external and internal security assessments on our infrastructure. This means that we perform penetration tests on the platforms of White, Grey and Black Box penetration testing platforms. Our testers are Certified penetration testers and ISO/IEC 27001 compliant.
Can I just have Trace?
Trace is not available as a stand-alone module. Trace is a module that enables Real Estate Agents to enrich data currently in their contact database. The sole purpose of Trace is to help Real Estate Agents comply with the obligation to keep their database updated as set out in the POPI Act.
How do I get my whole team behind our new MYCE CRM?
Introducing CRM software can be one of the most important tools for managing sales, marketing, and customer service. But at the end of the day, it is up to the people who use it to take advantage of it’s capabilities and, further, up to management to teach those users how to do so.
Since January 2017 we have held over 1600 live online training interventions, created over 88 training videos, written over 40 training manuals and created an online e-learning platform.
We have tailored our training to increase subscribers’ awareness of MYCE’s features and functions and, most importantly, how to use MYCE to gain a competitive edge. The training channels were designed after calling our subscribers and asking them how they would like to be trained. Management should also have a clear idea of how their people want to be trained.
We want every one of our MYCE subscribers to understand how MYCE will benefit their everyday workflow and make their jobs easier. It’s quite a tough task getting sales people to do things a new way, even if they know in theory that it will benefit them. We work with many Real Estate Agents who are willing to put in the hard work now for long-term gains, and the only difference between the two groups is mindset.
I have an office of five staff, but only two of my staff need access to MYCE. I am not sure why I need to pay for five licences if I think I need two.
One of the greatest things you can do for your business is empower your team with the right tools to do their specific roles. Let’s take a look at a real-world example, a Real Estate principal who made the same argument above; that they had five staff but only two needed access to MYCE.
This office had one tele canvasser, one administrator, two Agents and one Real Estate principal. Every person in this team had an important function, but these functions were very different.
- Why did the tele-canvasser need their own profile?
- The tele-canvasser had the responsibility of calling various databases for streets and complexes to source possible listings. They would be calling on behalf of the two Agents.
- Because everything that is done in MYCE must be linked to a user, the tele-canvasser needed extra permissions to access the two Agents’ profiles as they were canvassing on behalf of the Agents and not for themselves.
- The tele-canvasser needed to access the two Agents’ profiles so they could update notes and schedule meetings and follow-ups in each of the 2 Agents’ profiles. If they did not have their own profile to do this, the activity would all be recorded in the tele-canvasser’s diary and most likely never be actioned.
- The Real Estate principal wanted to access productivity reports to see how much value the tele-canvasser was adding to the team.
- The tele-canvasser was often required to send out email campaigns for the 2 Agents and if they could not access the Agents’ profiles their email campaigns would not be sent from the correct agent.
Why did the two Agents need their own profiles?
- Because everything that is done in MYCE must be linked to a user.
- Each Agent worked in different suburbs and needed access to a different seller’s database.
- When the Agents were driving through their suburbs and identified properties that had For Sale boards outside them, they could use MYCE to get access to the current owner’s details immediately, increasing their chances of participating in the mandate or even getting a sole mandate.
- When the Agent noticed a vacant property in their suburb, they could use MYCE to get access to the current owner’s details immediately to establish if the current owner would be interested in selling their property.
- If Agent 1 had a seller to refer to Agent 2, they could use their MYCE profile to refer the seller to Agent 2 and ensure they earned their commission when Agent 2 concluded a deal.
- The Agents could view their commission earnings for their own deals 24/7, motivating them to push harder.
- The Agents could take virtual walks down streets in their suburbs, quickly identify areas that need more focus and give the tele canvasser focused campaigns to action.
Why did the administrator need their own profile?
- Just as with the Agents, everything that is done in MYCE must be linked to a user.
- The administrator needed access to the Agents’ profiles to ensure that deals were captured and linked to the correct Agent. If this was not done, the commission would not be linked to the correct splits and the sales reporting would make no sense to the Real Estate principal or the Agents.
- The administrator had to check if referrals were recorded and accepted by Agents to confirm commission on referral deals were paid correctly and to avoid any disputes.
Why did the principal need their own profile?
- Just as with the Agents and administrator, everything that is done in MYCE must be linked to a user.
- To ensure they give their Agents access to all the seller and buyer databases they need to close deals.
- To ensure the tele-canvasser supports the Agents by doing their job well and being able to view the number of calls made.
- To ensure the Principal can see how many database records the tele canvasser is turning into opted-in contact records.
- To ensure the principal can view productivity reports for Agents.
- To ensure the Principal can extract sales reports by clicking a few buttons instead of wasting hours collating data onto excel sheets manually.
- To ensure every key member of the team had all the skill and ability available for maximum enablement to achieve results.
Databases are an essential requirement for Real Estate Agents and is where canvassing all begins. We speak to Real Estate Agents and they’ve tried so many ways of creating databases and often only end up with multiple excel spreadsheets that are outdated, not captured in a standardised format, costs them lots of money and do not contribute to generating revenue at all.