Success Guide: Broker Technology 2021

 

Welcome to RE Technology's second Success Guide for Spring. You will learn how to become THE expert in your market with industry-leading ideas and solutions. We have hand-picked our favorite tools proven to help real estate professionals grow their businesses. Download the FREE guide to learn how you can leverage online marketing in new and exciting ways to beat the competition!


 

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Welcome to the Spring Edition of the RE Technology Success Guide

In this edition of the RE Technology Success Guide, we will be sharing insights on broker technology products. Broker technology products are developed to strengthen the service offering to consumers by enabling real estate agents to perform more effectively.

Brokerages who are making strides in market penetration and agent growth all have one thing in common today – great technology. It is interesting to note that many of the largest brokerages in the nation have not been able to master their grand vision of technology. A new strategy has emerged that allows brokers to choose the best of breed products. It is almost like buying the best car on the market, driving it for a few years, and perhaps switching to a new model.

Agile brokers are not pinning their hopes to the grand vision of owning technology any more than they would need to own the company that makes computers. Buy software that fits your business and partner with a vendor that delivers great service. If the technology does not fit or you need to pivot – you can always switch vendors or integrate some new features to keep your technology plan in first place.

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LATEST TRENDS IN BROKERAGE PRODUCTS

For the last decade, real estate brokerages and vendors have been focused on developing the “end-to-end solution.” Like all trends, this one is on the way out. The reason why end-to-end solutions were so popular was that agents did not want to log into 27 different end point applications to do their business. Putting everything under one software roof made a lot of sense. It provided agents a single place to go to accomplish everything they need. Great idea, but it failed.

There are two reasons why the end-to-end solution failed. First, agents may love or hate the platform. So as not to condemn a current vendor, I would like to use Agent Achieve as an example. Agent Achieve was developed for Intero by a great group of software developers but it was also sold to other brokerages. Under one platform, the agent had access to their website, lead management, CRM, CMA, transaction management, drip marketing, and so on. Agent Achieve was awesome, and it allowed Intero to recruit amazing agents in the heart of California’s tech savvy Silicon Valley. The problem, however, was that Agent Achieve was too complicated for some agents. Another problem was that Intero agents would frequently compete for the same customers using the same templated website, the same listing presentation, the same drip marketing, etc.

This brings us to the second reason why Agent Achieve failed. It did everything, but was a master of nothing. It was not the best product as a website, CRM, CMA, Transaction Tanager, or anything else. It did all of those things, but was not the best in any category.

The two biggest trends that have allowed brokerage technology to evolve beyond the end-to-end software products are Single Sign-On (SSO) and Application Programming interfaces (API’s). These two features combine to allow the brokerage to integrate a group of different applications from different vendors all under one roof. In effect, the brokerage can build their own end-to-end platform using integration tools. Think of it as a Lego Set for building a firm’s custom technology ecosphere where you can choose the best products and integrate them into your personal mix of the right tools for your agents.

The best news of all is that just about every technology company in the real estate industry today supports SSO and APIs. Moreover, they are rolling out app stores that feature their integration partners. As you rethink your technology roadmap this year, focus on partners who have robust integration tools and existing partnerships.

As we move forward in this new environment of technology product integration, brokers will have more flexibility than ever before. When you think about technology products, think about choice. You do not need to have one CMA product for all of your agents. Let your agents choose from a selection. Obviously, a selection of two or three is probably more than enough for most agents and teams. The SSO links and API integrations make this possible today. The tricky part is in negotiating the contract with the vendor. We suggest licensing technology on a per seat basis. Agents can only make a vendor switch once a month. At the end of each month, the vendor looks at the user logs and bills you for the number of agents who were active on the platform. If agents did not use a product, you don’t pay for it. This will allow you to give agents the best products for the most reasonable price. If product usage for a particular product dwindles down – remove the option and replace it with something better.

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GROWING YOUR BROKERAGE WITH TECHNOLOGY

Have you seen the headlines? Every brokerage and franchise brands are talking about how they are leveraging technology in real estate to better serve the agent and the consumer. When you ask an agent about the technology they use, they rave about it. Then when you ask the agent to log in to show you how they use the product and how it grows their business, they forget their password and can’t log in (tongue in cheek).

Without a doubt, from Wall Street to your local main street, everyone is talking about how technology is the key to agent recruiting and retention. Without a doubt, this is true. Providing excellent technology that solves problems agents face in their business does increase sales volume. And agents will not leave the firm if it means giving up technology that works.

As a brokerage, you need to develop certain superpowers when it comes to technology. You need to be known for something. For example, @Properties in Chicago has an internal communications app called @agent. It generates pre-market exposure for sellers’ homes and alerts brokers to listings that match buyers’ preferences. Similarly, Pacific Union in California built a digital listing presentation for the iPad. For the most part, there was nothing super special about either of these applications. Any broker could have done the same thing. The success really came from their enthusiasm and their ability to communicate how technology gives their agents a competitive advantage in the market.

Whatever technology products you roll out this year, (and you need to roll out at least one new thing each year) roll them out with excitement and bake that excitement into your recruiting and retention strategy! To grow your brokerage today, you must be able to claim a superpower with something.

To find your thing each year, be sure to watch your competition and invest your time in getting technology demonstrations. You need to create a buzz. Be sure to involve your top producing agents and teams in the evaluation. Let them be the first to get the product and provide feedback. Spend time with that “techie” agent in the office and understand why other agents in the office defer to that person when it comes to technology leadership. Your job with real estate technology is to win the hearts and minds of your agents by delivering tools that they will use and rave about. And most importantly – be sure that agents outside your firm want the product enough to consider joining you.


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TEN KEYS TO LOOK FOR IN BUYING BROKER PRODUCTS

If you are like most brokers in America, you probably did not get a degree in systems engineering. That’s ok. Most business leaders outside of the technology industry do not. That is why Software as a Service has become so popular. Here are a few suggestions that you may want to consider when you interview a technology company about a product you like.

  1. When was the product built and how long has it been in production? New products tend to have more software bugs than older products, but being new may be the reason you are attracted to them. Be sure to get references from a number of customers that are on the platform and ask about the quality of the product.
  2. If the company has an integration with your MLS, ask if they are members of the Real Estate Standards Organization (RESO) and if they are certified. RESO is the non-profit community that manages data standards which allows software to be quickly integrated with MLS data without a lot of custom programming.
  3. What is the company’s capital structure? Are they a venture-funded startup? Maybe you want to invest, or maybe you are concerned that you may not like who they sell the company to. Be sure that you have the ability to cancel the contract in the event of a change in control.
  4. All of the technologies in your company need to work on mobile. Be sure that your test agents spend some time using the product on a mobile device. Agents don’t spend hours in front of a computer screen, they use iOS or Android most of the time.
  5. Do they support Single Sign-On (SSO)? This will allow your agents to access the software without remembering 10,000 usernames and passwords.
  6. Does it work on both Mac and PC?
  7. What are the terms of use? Are they getting access to the ability to repurpose or reuse the data that is contributed into the application or do you own your data?
  8. Privacy is becoming a major issue with the passing of more restrictive regulations on how companies can use consumer data. How does the company handle privacy?
  9. Indemnity is also a key consideration. Make sure that you are indemnified from any litigation involving their product or your use of the product.
  10. Customer Support is clearly half of the equation in Software as a Service. If they do not have a good service department, you will need to make sure that you have the staff resources to provide that. Even better, request a few dedicated service staff. It’s always better when you or your agents are talking to the same representative when they have a problem. It makes support familiar and can go a long way toward driving agent satisfaction..

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Contact Information

BOOMTOWN

Charleston, SC

844-294-3847

www.BoomTownROI.com

 

KEY PRODUCT BENEFITS 

  • Powerful lead generation for a pipeline of verified leads
  • Lead qualification and nurturing services to deliver conversation-ready leads
  • Actionable insights & predictive tools for higher conversions
  • Smart, personalized automation to triple productivity
  • Unparalleled training, strategy, and support services.

  

BOOMTOWN

We exist to make real estate agents successful.

PRODUCT OVERVIEW

Partnering with the top-rated real estate CRM means your business is run like a well-oiled machine. With accountability tools and productivity dashboards, brokers are empowered to lead & succeed and grow the thriving real estate business they deserve.

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FEATURES:

  • Consumer Website: IDX websites, custom landing pages, plus consumer and agent mobile apps designed to attract & convert leads.
  • Lead Generation: Capture more motivated homebuyers and get more listings with expert digital marketing. Long-term lead nurture through automated marketing campaigns turns today’s “maybes” into tomorrow’s closings.
  • Predictive CRM: Knowing is half the battle. Identify opportunities with insights, fine-tune your workflow, and concentrate on the most dollarproductive business.
  • Success Assurance: The perfect mix of tools and services to handle lead qualification & lead management, serving conversation-ready prospects to agents.

TESTIMONIAL

I recruit a lot using Boomtown... that’s one of the elements! It’s a big deal because everybody wants leads and they want a system that works, so Boomtown is a huge asset to my brokerage.”

-Bob Clarkson, The Alliance Group, Hilton Head Island, South Carolina

 

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Contact Information

Brokermint

Carlsbad, CA

[email protected]

619-433-6789

brokermint.com

 

KEY PRODUCT BENEFITS

  • Increase productivity and save hours and hours of work
  • Reduce manual repetitive data entry and errors— consolidate into one data flow
  • Automated commissions are fast and accurate
  • Reports you can actually use
  • Connect to MLS, CRM, QuickBooks, and more

Brokermint

Today’s back office is automated. Don’t get stuck in the past.

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PRODUCT OVERVIEW

Today’s real estate back office is automated. Brokermint is a complete cloud-based back office system. We support you with integrations and a customer success philosophy.

  • Transaction Management: Stay on track to an on-time close for every real estate transaction. Manage them all from one convenient dashboard.
  • Commission Automation: Recruiting and sponsor fees, referral fees, splits, sliding scales, and more. Let Brokermint do the work for you.
  • Agent Management: Onboard new agents, track all goals, and ensure you have all licenses and documents needed for compliance. Agents see their own production. You see everything.

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  • Accounting: Use Brokermint’s built in real estate accounting tools to track and manage your finances. Brokermint also connecst to platforms like QuickBooks.
  • Reporting and Analytics: Out of the box reports for most of what you’ll need. And you can easily build custom reports to see exactly what you want.
  • Integrations: Connect your CRM, MLS, and other tools to seamlessly push data through your entire business process. Brokermint also integrates with Realogy Dash for personnel, listings, and transactional data.

TESTIMONIAL

“It reduces labor cost, duplication, and data error. I have one complete system rather than patchwork.”

- Susan Jenkins, CEO, BHGRE Native American Group

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Contact Information

Elevate

Speak to a Success Coach:

844.792.0260

tryelevate.com

 

KEY BENEFITS

  • Brokerage RECRUITING module
  • Brokerage-level advanced DASHBOARD
  • Brokerage, office & agent KPIs
  • Lead capture / response routing & tracking
  • Team capable
  • EXCLUSIVE Lead generation
  • Customer activity WORKFLOWS & task coaching
  • CMA creation WIZARD
  • Document management
  • Agent-PROTECTED databases
  • FANATICAL Support

ELEVATE BOSS

The POWER of productivity for brokers, agents & teams. CRM, Lead Generation, Email, Social, Text, IDX Websites, & More. One solution for you and your agent’s marketing needs.

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PRODUCT OVERVIEW

Welcome to the POWER of productivity for real estate professionals, featuring an intuitive CRM, exclusive lead generation, IDX websites, automated email, text and social campaigns, communication workflows, brokerage recruiting module, and fanatical training and support.

  • Advanced, Intuitive CRM with Powerful Metrics Now it’s easier than ever to pay attention to the KPIs of your business with activity workflows, task coaching, agent-protected databases, lead response routing & tracking, and a customizable metrics dashboard that allows you to focus on what matters most in your business.
  • Exclusive PPC Lead Generation Provide your agents with EXCLUSIVE buyer/seller leads at a fraction of competitor prices. Features agent assignment protocol.
  • High SEO IDX Websites Designed specifically to be found on search engines, you and your agent’s IDX websites feature rich, relevant content, an intuitive consumer interface with built-in lead capture, and an interactive blog with automated content posted weekly.
  • Automated Social, Email & Text Campaigns Nurture past, present & future clients with intelligent campaigns and workflows designed to provide insight and engagement every step of your lead’s life cycle.
  • Fanatical Support & Training Dedicated onboarding specialists and success coaches who will help you and your agents every step of the way.

TESTIMONIAL

“Elevate is truly the future of real estate technology in today’s real estate world.”

- Lisa L., Broker Tucson, AZ

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Contact Information

Happy Grasshopper

Tampa, FL

[email protected]

855-232-9077

Schedule a personal tour

www.happygrasshopper.com/

Learn more

www.happygrasshopper.com/chirp

 

KEY PRODUCT BENEFITS

Real estate brokerage & brand solutions

  • We help you recruit and retain agents
  • Your agents want an easyto-use real estatetechnology that produces results.
  • You want marketing tools your agents actually use.
  • Happy Grasshopper has pioneered a wayto keep everyone smiling.

Happy Grasshopper

The easiest, most engaging relationship software loved by AGENTS and BROKERAGES

PRODUCT OVERVIEW

Chirp™ by Happy Grasshopper was built to enhance and streamline your recruiting efforts and retention of top producing agents. The platform specializes is Automated Continuity Plans for RECRUITING AND NURTURING SPHERE & PAST CLIENTS.

Chirp™ is a customizable solution that brokers can offer their agents to differentiate themselves in their market and also use to drive high engagement recruiting campaigns. Your Admin or Transaction Coordinator simply adds contacts to your account at closing and our system does the rest. Follow-up content arrives either from the agent or the brokerage.

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FEATURES INCLUDE

TEXT MESSAGING 12 texts per year, including transaction anniversary, birthday, holidays, and quarterly lead harvesting messages.

EMAIL 17 non-real estate emails to demonstrate you and your agents care about the relationship more than the commission.

RINGLESS VOICEMAIL DROPS Sent in concert with the text messages, past clients hear your voice wishing them well and calling them to conversation.

COMPLETELY AUTOMATED Once setup is complete, our system goes into action. Replies are directed to you and your agents, and we’ll report results. Chirp™ clients routinely see open rates of 50-75+% on each email sent out. WOW!!!

TESTIMONIAL

Four sides and $2mm in sales from just one message! “Not kidding... just got a second response from a client that closed in 2017 that’s been talking about moving (I had no idea they had the itch.) If both these pan out, we’re talking between $1.5MM - $2MM turnarounds. Not bad for ONE email!”

- Randall Martin, The Martin Group.

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Contact Information

Homesnap Pro

Bethesda, MD

[email protected]

www.homesnap.com

 

KEY BENEFITS

Homesnap offers brokers, agents, and consumers a branded search and collaboration experience that is far better than the other large portals. Homesnap also powers fully-automated digital marketing programs across Facebook, Instagram, Google & Waze that produce high-quality leads, brand awareness and agent satisfaction.

Homesnap Pro

The only national home search portal powered by real-time MLS data that follows “your listing, your lead” and sends free leads to the listing broker.

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UNIQUE ADVANTAGES FOR BROKERS

  • Real-time property and pricing info on any device, tablet or laptop, straight from your MLS.
  • A national consumer search portal that attracts millions of consumer views each month.
  • Your Listing, Your Lead — more than 4,000,000 free leads sent to date. • Automated digital marketing campaigns across Google, Facebook, Instagram, and Waze.
  • Connect with your sphere of clients and contacts in Homesnap, the top-rated app in the App Store and Google Play.
  • Broker branding throughout the Homesnap app and website.
  • Team customization and broker and agent dashboards.
  • Improved agent acquisition and retention.
  • No For Sale By Owner listings.

 

THE BROKER PUBLIC PORTAL WITH HOMESNAP

The Broker Public Portal (BPP) is a collaborative venture between real estate brokerages and multiple listing services (MLSs) to create a national, ad-free consumer home search experience that connects home searchers directly with the agent who best knows the home they are interested in. Homesnap is the publicfacing brand of the BPP.

WHAT THE INDUSTRY IS SAYING

“BPP with Homesnap is awesome! Our agents love that free leads come back to themand the quality of leads is incredible.”

—Jon Coile, VP of MLS & Industry Relations at HomeServices of America

“Brokers who aren’t using BPP with Homesnap are making a huge mistake and providing a disservice to their agents. This is an incredible tool that can change the life of every agent.”

—Paul Wells, Owner of RE/MAX of Barrington.

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