Which Technology Platforms are Essential to Running Your Brokerage in 2017?
Technology, Agent Adoption, and ROI (Part One)
I have been involved in real estate technology sales for a long time. Unlike other technology vendors, my company, my partners, and myself, have been real estate executives at the highest levels of franchise organizations and associations. We have a pretty keen understanding of what agents and brokers do every day and what they need to be successful.
For several years now, I have been meaning to write about the overwhelming number of options that exist for both brokerages and agents alike. There are hundreds of vendors, who not only have competing products, but overlapping products that duplicate one or more functions of something you might already have.
Throw in the fact that agents need a simple platform to use since their adoption of technology is pretty low, and you can see brokerages pulling out their hair in frustration. What’s the point of spending money on technology platforms when they are not getting adoption and expected ROI on what they already have?
It with this in mind that I have written this series of two blogs on this topic. The purpose is to analyze the many different platform types that are out there, which ones actually lead to sales, and which ones, might be left off your shopping list next year.
One of my large clients told me recently that he could not justify adding any additional technology expense on new platforms until he could really understand the adoption and ROI on what he already has. After he made that analysis, he was able to consolidate some technologies that were built into the Proxio Showcase platform, save some money and extend his reach.
I think that logic makes a lot of sense and why I present you the following information.
First, let’s take a look at the multiple categories (in no particular order):
- MLS (often multiple)
An MLS is essential to doing business, but extending out of your market adds real value.
- Corporate Intranet
Most brokerages have some sort of company intranet and this is probably an important item to have in your technology program.
- Corporate Website
Again, this is hard to do without, but could you add new developments and new homes to your mix to extend your income.
- Agent Website
Hard to imagine your agents not having their own websites, but you could get new agents up and running with their own Proxio Showcase website on day one.
- E-Mail with Cloud Storage/Remote Access
For record keeping, this is an essential to today’s paperless office.
- Contact Management/CRM
Having all of your information in one place is important, along with cloud backup systems.
- Enhancements to Listing Syndication
Our view is that listing syndication sounds good on paper, but often has big limitations. Proxio puts your listings in the hands of buyers’ agents locally and globally at a fraction of the cost.
- Listing Syndication Management
This can be a pricey investment, especially if you don’t know how effective your syndication efforts are.
- Lead Management
Proxio’s sales platform has built-in lead management, that shows you where every lead is coming from.
Make no mistake – emarketing is expensive. Proxio creates a complete digital marketing package for each listing, all branded to the agent and the brokerage.
- Market Reports and Statistics
Being the local market expert is important, but so many agents are doing this. What can you do to differentiate yourself? Hint: Proxio can help.
Yes, everyone wants to know what their home is worth. But how can you add compelling value to your story above and beyond what the other agents will say?
Analog marketing is expensive. Digital marketing is where it’s at. Proxio creates a complete digital marketing package for each listing with local and global reach.
Hard to imagine not have financial systems in place, but determining the R.O.I. should be part of your financial reporting.
- Franchisor Reporting
If you own a franchise, you know that you need this to be in compliance with most franchise agreements.
- Showing Appointments
You should challenge yourself to how you can create the best showing appointments available. Proxio’s digitial platform can help.
- Social Media Management
With Proxio, you can easily share your listings on Facebook, Twitter, LinkedIn, Google+ and Pinterest in a few clicks, with all leads coming back to you.
Wow! That’s a lot of stuff isn’t it?
My goal is to get you to think about your investments as follows:
- Which platforms are absolutely necessary to running your business?
- Which platforms are “nice to have” versus “have to have”?
- Which platforms lead directly to sales?
- Which platforms could be combined by choosing a vendor that offers more of a “one-stop” shop?
- Which platforms are better left to agents to purchase on their own?
It’s important to think about how to get the most out of your technology investment dollars so you can get the most impact, generate the highest adoption, and give you the highest ROI.
Next time I will look at what platforms might be “have to have” and how you can take these and potentially combine them with vendors who offer a “one stop shop”. The idea here is to look at ways of increasing efficiency and decreasing expenses.
About Proxio Showcase™
Proxio Showcase is the real estate sales platform that creates a faster and more cost-effective sales process by creating amazing digital marketing and putting it in the hands of motivated agents worldwide, while tracking activity, interest and leads.
Find Out More – Contact Jose
About Jose Perez
Respected and innovative industry leader, Jose Perez, has been making a difference for almost 30 years. His vision is focused on helping brokerages bridge the gap between the growing expectations of consumers and agents and the lack of innovation the industry has been able to deliver over the past few years. Jose is the Executive Vice President of Global Sales for Proxio.