Key Aspects to Look for in a Brokerage Platform

Many technology companies are calling themselves a "platform." It's becoming a loosely used buzzword, but what makes a true platform is a technology that serves as the base for all of your technology solutions. It's the hub of your company's technology.

As a brokerage owner, what should you be looking for when considering a platform for your business? Below are a few of the key things you absolutely must consider when vetting these technologies.

Make sure it's open

An open platform is quite different from a closed platform. What makes a platform "open" is an open API, which allows other technologies to plug into the platform, integrating and sharing data. Asking whether or not a platform is truly open is key to knowing what potential the technology has in integrating your business. A closed platform limits your ability to leverage data, and doesn't help your agents run their business.

Find a reliable partner

When it comes to onboarding a platform for your brokerage, you'll want to work with a provider who serves as a true technology partner. A platform is the technology backbone of your business; it isn't just some add-on tool. Because of this, your platform provider should serve as a trusted advisor, guiding you to the strongest technology ecosystem that effectively runs your business.

The beauty of an open platform is that you can make it your own – our brokerage clients have varying technology ecosystems based on which integrated tool and service providers they've decided to provide to their brokerage. Work with people who can guide you through this process, selecting the best technology services for your business. This brings us to our next tip...

Own your data

Data is more powerful than you might think. What kind of data are we talking about? MLS data, consumer data, agent data, and more. All of it should live in your brokerage platform, where it's accessible and useful. Data can power other tools, lend valuable insights, improve productivity, and more. It's time for all brokerages to own their data.

The value of integration

Integration adds value to your business, smoothing operations and increasing productivity. Agents don't have to switch back and forth between technologies, attempting to remember dozens of passwords. It also gets rid of manual data entry. When data is shared across your tools, including your MLS, it negates manual data entry and the inevitable errors that comes with it.

Selecting and onboarding an open platform for your business can feel complicated, but it's vital to staying ahead in this competitive market. Your brokerage needs an integrated technology ecosystem that offers flexibility, connects your business, and helps you be more profitable.

To learn more about the Moxi Cloud open platform and what sets it apart, click here.

To view the original article, visit the Moxi Works blog.