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Broker Technology, Missing Backbone

Sifting Through the Maze of Broker Technology

Part 2 of a 5 part series called Broker Technology, Missing Backbone

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2 Comments

WAV Group Go to Profile WAV Group
Published: 02/03/2011
Posted by: RET Staff

touching_growthBrokers, large and small, face significant challenges they did not face 20 years ago.  Profit margins have eroded and control over their independent contractors has been minimized.   The consumer has taken on a much more vocal role in the process and is forcing transparency and responsiveness never before experienced.   Some of these challenges are related to technology and the advance of the Internet while others are cultural challenges that have come about through the changing broker/agent relationship.  WAV Group’s new white paper explores the issues behind the broker’s challenge to gain better control and visibility into their companies while re-establishing a new value proposition for their agents!

While part one of this five part series focused on understanding how brokers got into the technological mess they find themselves today.  Part 2 of this 5 part series, opens the discussion for how brokers can sift through the maze of technology that currently exists in the industry.

Brokers are amazing people. They are leaders, motivators, trainers and counselors.

 

Comments on: Sifting Through the Maze of Broker Technology
by Michelle Carter 2011-02-04 09:06:07
Having worked as the Marketing Director at a large brokerage and now at a technology vendor, I have to say that the key obstacle to solving this problem is the brokers themselves. Any attempt to "standardize" is rebuffed because almost every broker wants their own configuration or customization. Even at my current company, where we deal with what should-be industry "standard" data, everyone wants a slightly different iteration and some brokers are even a little personally affronted when you try to fit them into any kind of box.

Real Estate still remains, at its heart, a very personal business and I don't just mean the obvious relationship agents have with their clients. In everything from recruiting to how agents market and sell themselves, it's about individuals (with unique needs and styles) and relationships. Standardization and automation are often difficult bedfellows with these qualities.

I'm not sure what the ultimate answer is - I know I struggled to integrate and standardize when I worked at a brokerage, and failed - but no technology solution to this problem will ever be embraced unless brokers - and agents - are willing to change their mind-sets. Based upon my daily interactions, I'm not seeing that happen any time soon.

by Victor Lund 2011-02-04 11:37:00
I was speaking to a broker yesterday that has hundreds of agents, and sells property in Napa - vineyards; TICs in San Francisco (with parking, without; with view and with out); luxury homes in Marin, and ranches in oakland. 5 MLS data feeds get pulled in. They worked it out - somehow. I am sure that it is not perfect - but they are moving in the right direction despite very difficult challenges.

Perhaps the most inspired quote from the conversation was that they Took the time to make sure they met the needs of each agent selling in each market place at each demographic of transaction. They painstakingly worked with their vendor and their MLSs to get the data set right to meet the agent and client communication needs. Now they "rinse and repeat" daily.

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Sifting Through the Maze of Broker Technology

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