How to Switch Your Focus from Software to Success

In the world of real estate, we all hear the seemingly constant buzz about the ever-evolving technology that is shaking up our industry. The traditional ways in which real estate has been conducted are slipping away, and brokerages and agents alike are being left scrambling to define what they do, and exactly how they ought to do it.

The movement to incorporate technology into real estate practices is tempting and, in many aspects, necessary to keep up and maintain a competitive edge. The pressure to stay current with the movement can be daunting; in fact, 48 percent of all real estate firms consider keeping up with the tech advancements to be one of the most significant challenges they are facing today. The question that arises here is: what technology does one actually need in order to achieve success?

When searching for new software for your brokerage, make sure you're confident when it comes to exactly what benefits you are hoping to gain from bringing it on board. Further,  be sure you're aware of the tools you will need in order to fully utilize it. The process of acquiring new software can be costly and have the potential to put a major strain on the financial health of your brokerage if done incorrectly. Simply handing your agents a fancy new program and leaving it at that won't anyone any good, and definitely won't rock your agents' socks off. In order to see the jaw-dropping ROI you are looking to get out of your software, it will require you to invest the time and money into the implementation process so that your agents are continuously being trained on how to use it and actively receiving value from it.

In light of this, avoid the common mistake of buying technology solely for the sake of buying technology. Instead, raise your bar high and purchase software that you deem absolutely essential in order for you to achieve success, and then gear your efforts toward making sure that you are getting everything you possibly can out of it. After all, what's the point of having flashy technology if you don't get value from it? No point. The answer is that there's absolutely no point to that at all.

Here are a few steps we suggest you consider taking before sealing the deal to maximize your success:

Step One: Clearly define your goals.

Look beyond the buzz and clearly define what you are hoping to achieve by incorporating new software into your business. After you decide on a goal, articulate what metrics you will use to gauge when you've successfully reached it. Clearly you want your goals to be centered around the main interests of your company. Here are a few that we here at MoxiWorks like to focus on:

• Improving the quality of your marketing efforts
• Increasing lead generation
• Strengthening CRM
• Increasing agent productivity
• Retaining current agents
• Recruiting rockstar new agents

The main takeaway here is clarity. Be able to state what your goal is, and how you will measure its success.

Step two: Look for the missing parts.

Once you define your goals and establish your metrics, it's then time to create a game plan for how you will go about achieving them. This requires first conducting extensive research within your brokerage to ensure that you are utilizing the skills you already have, making worthy investments in the technology, and avoiding the expensive mistake of double-dipping in resources. Start asking questions to get a clear insight into what you already have covered, and what you will need to look externally to find.

• What types of resources do you already have within your brokerage that can help you reach your goals?
• What steps can't you complete without the implementation of new technology?
• What does your timeline for onboarding new technology need to look like?
• Will you need your technology partner to supply onboarding assistance and continuous training, or do you have tech savvy agents that can support others in the process?

Asking questions like these will assist you in finding the missing pieces within your own team, and help you pinpoint exactly what you will need to get out of your technology partnership.

Step three: Treat yourself to a technology shopping trip.

After you discover what kind of technology you need, it's time to begin the hunt for the right company to partner with. Taking the time to complete the previous steps beforehand will make this process much more straightforward. Make sure to compare different options and take on a "What can you do for me?" approach. Brush up on the major players for that kind of software in order to be perceived as educated and become more likely to get a better price.

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