How Brokerages Currently Structure Their Tech Is Limited

Technology inside the real estate space is finally catching up to address the complete needs of how the modern brokerage operates, allowing solutions and tools from broker-specific, team-specific and agent-specific perspectives all under one umbrella inside of a single solution. An insurgence of companies are laying claim to be an "all in one solution" or "complete broker platform" but what does it take to actually be one?

Historically, there has never been an obvious and clear winner pertaining to tech offerings inside the space. This is largely in part because there has not been technology solution(s) adequate enough to cater to every aspect of a brokerage's business that also benefits users of every level within the brokerage – office managers, agents, office admin, team leaders, etc.

As a result, technology offerings currently implemented by most brokers to run their entire business on generally include one of these four options:

• Platform for all agents to use (all in one)
• Multiple solutions either piecemealed together or standalone
• In-house offerings
• Leave agents on their own for tech

Disparate solutions cause data nightmares. Some data duplicated in systems, without shared updates. Data doesn't flow from system to system, wasting time for manual entry and causing ineffective or unprofessional experiences for prospects and customers. Disconnected data and systems is costing brokerages millions in terms of wasted resources and ineffective processes.

Due to the various phases and processes in the real estate sales funnel, coupled with the variety of brokerage business models, the industry has witnessed an explosion of technology solutions. There is an expansive breadth of technology companies that seem to specialize in a particular niche or hyper-specific component of the real estate sales funnel. However, very few address the funnel as a whole, with even fewer that provide solutions that accommodate both brokerage and team/agent needs.

Enter the true broker platform—commonly referred to as an "all-in-one platform." No longer does it make sense for brokerages to try and run their business from multiple point solutions or spend significant company resources trying to build their own tech or leaving agents on their own. These platforms deliver the ability for a brokerage to deploy technology solutions on a brokerage level that encompass both the brokerage and agent technology needs.

To view the original article, visit the Inside Real Estate blog.