April 19 2016
So often in real estate, people use terms in ways that confuse others. One of those confusing terms is Back Office Solutions.
There are many different kinds of back office solutions. Knowing the differences can help brokers and their IT staff understand where to look to find the resources they need.
Some people refer to a back office solutions an Intranet. A company's intranet is like a website, but it is behind a password so only company people can see it. They are extremely useful for sharing things like documents, messages, marketing materials and – most importantly – to be a launch pad for the many other software applications that are used across the company.
Examples include CoreLogic's AgentAchieve or LoneWolf's WOLFconnect. Both products are commonly used by many of the largest and most successful brokerages in America and have proven to be scalable enough to serve even the smallest firms, too.
Company Accounting
Another common use of the term "back office" is an accounting solution. Although LoneWolf's brokerWOLF product is by far the most popular in real estate, there are other suitable solutions from firms like LanTrax ProfitPower and Emphasis. Where brokerWOLF is suitable for all sizes of firms, ProfitPower tends to be more suitable for large firms, and Emphasis seems to be more suitable to smaller firms.
Today's brokerages use a dozen or more applications – including email, calendar, CRM, CMA, accounting, document management, automated marketing, virtual tours, listing syndication, agent website, lead management, and more. Having a robust back office solution that provides agents and staff access to all of the resources needed for success can be your best recruiting and retention advantage.
A few key requirements that you should consider when evaluating back office solutions are:
If you're looking for an ally in your RFP or product selection process, our 2016 Technology Guide is on the way to help. Each edition of this annual guide is designed to assist MLSs in technology selection and in educating their members about the tools available to them.
The 2016 Technology Guide is currently in production and won't be released until mid-spring, but you can reserve your copy today. Contact Jenna Woodruff at (805) 720-3567 or jenna[at]wavgroup.com for more information. To view or download the current Technology Guide, click here.
To learn more, you can: