While the idea behind Zestimates® seemed awesome for homeowners, it’s entirely frustrating for agents and often ends up disappointing their clients with inaccurate pricing forecasts. Even though Zestimates know a home’s approximate size and location, there are many factors they don’t take into account. That is why homeowners need to hire a real estate agent that can be their trusted advisor through every step of the home selling process, because Zestimate accuracy doesn’t cut it.
Zestimate Accuracy Backlash
What happens when Zestimates are seen without proper context or guidance? A lawsuit. While this is the first lawsuit of this kind, we are not surprised to see it come to light. It states that, “Homeowners, realty agents and appraisers have been critical for years about the valuation tool, citing estimates that too often are far off the mark — sometimes 20 percent or 30 percent too low or too high — and misleading to consumers. Zillow itself acknowledges errors.” That’s why we empower agents on our platform to be true consultants.
“The idea of an AVM (automated valuation model), an algorithm, that determines the price of a house is flawed from the very beginning,” said York Baur, CEO of Moxi Works. “There’s no such thing as standard housing product. If I buy a car, it comes off an assembly line, and they’re all the same. But every piece of property is different.”
Baur went on to say that, “Zillow has been very clever to give consumers a ballpark idea of what their house is worth, but it’s just that: A teaser to get them onto the website. So, why would anyone leave the most financially and emotionally charged transaction in someone’s life to a computer? You wouldn’t. Like with any large investment decision, you would seek professional advice, and that’s what realtors give you.”
Our CMA presentation tool, Moxi Present, encapsulates the relevant information about a house and enables a professional agent to consult and advise their client with accurate information, and information that can give true context to a Zestimate. “A realtor using modern tools like Moxi Present, has access to a wealth of data beyond what some computer algorithm is using and in particular can access things that no algorithm can,” said Baur. He means things like the details of a home’s interior or the exact character of a given neighborhood, which only an agent, a human, can speak to.
The importance of using a trusted advisor cannot be overlooked. As we all well know, this is one of the most important and personal transactions in someone’s life, and it needs to be treated accordingly. If you were to get a surgery, would you consult a professional first?
We all heard the roar coming from NAR (National Association of Realtors) yesterday, who announced they will now be offering free
Placester websites. In the past, these have been offered for $5 bucks a pop, but now are completely “free.” The problem is, free doesn’t always mean free, and this news puts a big dent in the brokerage value proposition.
Moxi Works CEO, York Baur, weighed in saying, “It’s not good for the industry to have the NAR leveling the playing field for technology. The brokerage is the sun in the real estate solar system and should be allowed to create their own unique value proposition – we don’t need the NAR meddling in that.”
It’s important to note that none of these websites will carry brokerage branding. We believe it’s essential for brokerages to encourage agents to include brokerage branding, and although these sites can add your brand, it is not entirely automated. These sites are great for agents to create their own brand and image, but it also creates an extra step for the brokerage to maintain their brand and therefore becomes a headache.
“I hate things like this and brokerages should too. It’s not right that they’re taking away the brokerages ability to generate their own unique value proposition. Brokerages should be able to do that without NAR giving away tech,” said Baur.
Finally, there’s the upselling factor. This is a “freemium” play as everyone is saying. Freemium models are intended to get something in front of people for free in hopes of upselling them to paid products and services later.
Like all startups that raise incredible amounts of money (Placester is somewhere around $100 Million), there will be unbelievable pressure from their investors to get a return. That means they’ll be upselling agents like crazy, which only dilutes a brokerage’s value proposition that much more. “We’re in the business of helping brokerages, so this is unsettling,” said Baur. “The NAR might as well have knocked on the door of the brokerage and slapped them across the face.”
Since 2012, Moxi Works has grown exponentially. From doubling in employees, to becoming a major player in the industry (and creating the first open platform), the past five years have been good to us. We grew so much that we even had to change offices! It’s a good problem to have.
Our move didn’t take us far. In fact, it took us right downstairs to the floor below us. This time we have the entire floor, giving us more room to spread our tech wings. It’s been a few weeks since we’ve settled into our new quarters and we couldn’t be more thrilled! Say hello to Moxi Works 2.0, we’ve officially landed.
In the spirit of moving, our awesome coworkers took before and after footage of the move. You might be wondering why there are cars driving right next to our floor….well, that’s Seattle for you!
Most of the time, people dread moving days. However, at Moxi, it’s a different story. It’s hard to not be excited when you have an entire wall that’s meant to inspire you day in and day out.
We also happen to have an extra special admin, an iPad. This little guy checks people in, helps direct them where to go, and of course handles all of the Jimmy John’s orders. The future is finally here.
And how could we forget our fabulous lobby?!
Although we’ll miss where it all started, it’s onwards and upwards (or downstairs in our case) and we’re looking forward to the next five years of Moxi Works!
P.S. Thanks to all those who made the move as easy as possible! Especially our VP of Operations, Ring Nishioka!!!
With the inception of the Moxi Works open platform, our sole purpose is set to helping brokerages innovate and future-proof their businesses. We’ve added a lot of tools and services lately, but only those that are the brightest and best in the industry. With that spirit in mind, we want to announce another best-in-class service integrated into the Moxi Cloud open platform: Totomic, which helps guide agent marketing tactics through an in-depth analysis of big data.
“Where most marketing plans fail is when there’s no recommended action. The marketing direction Totomic provides is clear and concise, allowing agents to hit the ground running on their listings. We’re currently rolling out to a couple mutual clients and are excited to have them on our open platform within our Moxi Engage CRM,” said Mike McHenry, VP of Channels & Partnerships.
Totomic uses big data, allowing realtors to identify, reach, and sell to actual buyers in less time, at the best price. Specifically, their Best Buyer report highlights buyer psychographics, customized selling points, staging tips, and ad-buy recommendations. Totomic encourages specific action from their analysis of the data, unlike other sources that analyze but leave it to the agent to decipher what to do with it.
Totomic’s proprietary, patent-pending technology gives brokerages deeper insight into their customers and markets than ever before. Best Buyer drives insight into prospects and properties by fusing data from a wide variety of sources into easy to understand, actionable intelligence that can be used to drive marketing programs, guide development, and secure new business. The data they gather is run through Totomic’s proprietary algorithm that builds a set of audience profiles within the Best Buyer report. Totomic matches property profiles with audiences based on scientific parameters drawn from thousands of fields of data. Sound familiar? It’s not unlike online dating sources that match people based on interests.
Most agent marketing tools only use the most accessible data sources on the market, such as MLS data, which means a lot of agents are using the same data as their competitors are. Totomic gives agents a competitive edge with their unique mix of data.
Stretch advertising dollars further and increase the amount of time spent pursuing additional listings!
Find out more about the Moxi Cloud and how it’s taking the real estate industry by storm by clicking here.
We’ve been hard at work this year, creating products we know agents will love. Today we’d like to announce our newest product: Moxi Insights! This product gives agents access to client insights with the click of a button.
Moxi Insights, currently in Beta, gives quick and organized client information to agents through their Moxi Engage CRM. General demographics, housing info, lifestyle choices, financials, and more can all be learned about clients through the Moxi Insights product.
“Moxi Insights is a feature that not only adds to the overarching Engage CRM experience, but it’s also one that has the potential to revolutionize sphere marketing as we know it. Let’s face it, the core of an agent’s business is built upon a strong client base, but it’s impossible to personally keep up with every single one. Moxi Insights now does it for them. By reminding an agent to reach out to clients when their kids are heading off to college or letting them know the investment opportunities their clients care about, it frees up even more time for agents and keeps them on track,” said York Baur, CEO of Moxi Works.
Depending on the public data available, the insights given from Moxi Insights might include detailed information anywhere from hobbies to where clients/prospects donate and invest their money. Agents can potentially see if their clients have pets, certain cars, or if they’re a value shopper.
Moxi Insights also allows agents to filter their client lists based off of their likelihood to sell. For instance, if there are teenagers in the house, Moxi Insights will notify the agent that this family might be interested in downsizing soon. This is all based off public data that Moxi pulls into the agent’s Engage account. It helps agents quickly understand who they should be targeting in their sphere today, with badges next to the clients that are gearing up for a major life change.
Like all Moxi Works products, Moxi Insights is mobile optimized through their Moxi Engage CRM and can be accessed on any handheld device, laptop, or tablet.
Find out more about Moxi Insights, our other products, and what the Moxi Cloud is all about right here.
Watch how Moxi Insights Works below!
RealScout Broker IQ enables you to do more deals more profitably by realizing the full potential of your buyer data.
The Moxi Works’ Moxi Cloud open platform continues to grow, now offering RealScout as an integrated vendor. RealScout empowers brokerages and agents to complete more deals and grow profits, while providing a superior consumer experience.
Now available in our Moxi Engage CRM, RealScout is the only technology solution that realizes the potential of your buyer data from start to finish. Here’s how they do it:
Step 1: Capture Consumer Attention
RealScout’s industry-best listing alert and home search experience ensures buyers stay on brokerage-controlled platforms, preventing leakage to 3rd parties.
Step 2: Collect Buyer Data
RealScout gathers and analyzes actionable data from buyer purchase behaviors, creating a real-time view into market demand.
Step 3: Capitalize on More Deals – Cash in on more deals
RealScout provides tools to use buyer data to win more listing presentations, drive more in-house transactions, and improve brokerage collaboration.
“Our new integration with RealScout into our Engage CRM is taking our open platform to the next level. Their advanced analyses of buyer data is exactly what brokerages need to become more profitable while taking advantage of buyer data that already exists,” said Mike McHenry, VP of Channels and Partnerships.
RealScout BrokerIQ, their newest offering, provides brokers and seller agents the ability to get a 360-degree view of buyer demand relevant to their listings, and it enables them to market to relevant buyer agents. With Broker360, listing agents and brokers can identify buyer agents within their own brokerage with home buyer clients that match a listing, enhancing the broker’s ability to conduct more in-house deals, quickly and profitably.
RealScout allows agents to achieve market-best lead conversion, manage larger pipelines with less work, win more listings, and most importantly, close more in-house deals.
Learn more about brokerage platforms and integrated vendors here.
With over 30 integrated vendors and growing fast, Moxi Works is very excited to announce our new addition to the Moxi Cloud: QuantumDigital.
QuantumDigital is renowned in the world of direct mail, digital, and email marketing for real estate. It’s hard to beat solutions that generate revenue, all while having a 24-hour turnaround time for postcards and all print marketing.
The Moxi Cloud open platform is an entire system built specifically for brokerages and agents to make their lives more efficient. This new vendor will be integrated into the Moxi Cloud through our sphere marketing system powered by Moxi Engage CRM.
“QuantumDigital has great relationships in the real estate industry and we’re jazzed to be partnered with them. Integrated in the Moxi Cloud, together we bring a seamless print, digital, and email experience to our broker and agent customers. We’re looking forward to innovating with the Quantum Digital team,” said Mike McHenry, VP of Channels and Partnerships.
Jim Damman founded QuantumDigital in the 80’s to provide a simple way for agents to generate leads, while freeing up their time to meet clients face-to-face. He pioneered the concept of targeted direct mail and created a postcard marketing service that was fast and easy. Since then, they have paved the way for real estate marketing.
Agents can utilize their offerings by choosing from hundreds of online marketing services or the classic and effective direct mail solution. Some direct mail postcard marketing options include Just Listed postcards, farming, and buyer follow-up.
With agents in mind, QuantumDigital created easy ordering tools that store agents’ photos, company logo, and other details to save agents time in the ordering and checkout process. Their suite of products and services was truly created to make direct mail simple and fast for real estate agents. After all, they’ve been doing it for over 30 years in the industry!
Learn more about QuantumDigital and their deep roots in real estate below:
The Moxi Cloud’s newest integrated partner is Spacio, an app that allows agents to host paperless open houses and turns them into powerful sales opportunities. We’re excited to have Spacio on our open platform to provide an easy and effective way for agents to create new client relationships.
Mike McHenry, VP of Channels and Partnerships said, “Spacio is a great lead capture solution for agents. By integrating Spacio’s application into the Moxi Cloud, we can automatically insert contacts from an open house to our CRM, Moxi Engage and then email a CMA directly to all the walk-thru’s for follow-up.”
Here’s how it works:
Simple and Paperless Lead Capture
A modern and inviting sign-in form collects visitor information and leaves them with an unforgettable first impression. Spacio verifies the accuracy of visitors’ contact information so agents can focus their efforts on the highest quality leads.
Spacio automatically sends a follow up email to prospects after they sign in. Through Moxi Present, the follow up email can include agent’s customized interactive presentations of the listing. Spacio also gives agents access to all the open house leads in our Moxi Engage CRM.
Get Insights on Your Most Likely Customers
Spacio gathers social insights on visitors and surfaces the most likely customers based on the agent’s Ideal Customer Profile. Lead Quality Scores are based on the agent’s preferences and a variety of factors, including how visitors answer questions on the sign-in form and public data available on leads.
Real-Time Reporting on Brokerage-Wide Activities
Make more effective, data-driven decisions on sales, marketing, and training with comprehensive real-time reporting on company-wide open house activities.
Spacio utilizes the information already in the Moxi Works open platform including brokerage branding and agent/office roster information. Moxi Works’ customers can enjoy automatic onboarding of all agents, including complete agent profiles with headshots in Spacio and all listings automatically populated upon account creation. This means agents spend no time migrating to Spacio and more time using it.
Find out more about Spacio and the wave it’s making in the real estate industry by clicking here.
Better Homes and Gardens Real Estate Rand Realty has launched a powerful combination of the latest in agent productivity technology. Through the Moxi Cloud, our open platform, agents now have access to our Moxi Engage™ CRM, which is fully integrated into an advanced automated marketing platform from teammate, Imprev, Inc.
“There’s a great technology race in real estate that has brokerages scrambling to add the latest innovations to gain a competitive edge and attract new agents,” says Matthew Rand, managing partner of Better Homes and Gardens Real Estate Rand Realty, which operates 26 offices with 1000 agents. “But agents are suffering from tool fatigue: There are too many disconnected apps and tools offered to agents without a focused plan from the broker to tie them all together,” he continues.
Better Homes and Gardens Real Estate Rand Realty, which is the premier real estate broker in New York City’s northern suburbs, closes more than $2.1 billion in real estate sales every year in Westchester, the Hudson Valley, and Northern New Jersey. The Rand organization is well-known for its regional technology leadership. It was the first company to put its listings online, the first to offer mapping and directions, and now the they’re the first to provide a fully mobile environment for home sellers and buyers.
“Combining two best-in-class technologies that are fully integrated helps make Better Homes and Gardens Real Estate Rand Realty agents’ lives simpler and their businesses more successful,” Rand says. He adds, “The streamlined experience will also be a powerful offering in our recruiting strategy.”
Renwick Congdon, CEO of Imprev, a company known for its advanced automated marketing services, explains how the Moxi Works and Imprev integration creates a unique value proposition. “Providing compelling, timely, and relevant content to buyers and sellers helps agents build relationships and trust,” Congdon shares. “Delivering the right marketing to the client consistently and automatically can help an agent gain a client for life.”
“We’re making sure agents do the right thing at the right time, which we’ve seen dramatically increases their new, repeat, and referral business,” says York Baur, CEO at Seattle-based Moxi Works. “The technology that BHGRE Rand Realty is providing to its agents will provide a workflow that will be the envy of its competitors.”
Both listing and contact information for each Better Homes and Gardens Real Estate Rand Realty agent will be synchronized with their CRM and marketing platforms. The streamlined workflow dramatically increases agent efficiency and improves data quality by eliminating the need to enter listing and contact information in multiple systems. The integration also enables the automatic creation of marketing content for a wide range of marketing activities – from promoting a new listing to keeping in contact with an agent’s leads and sphere of influence – all without requiring the agent to lift a finger.
The Moxi Cloud open platform continues to grow, now with customizable marketing from real estate firm, Impact Marketing.
Founded by real estate professionals, Impact Marketing brings over twenty years of industry experience. Impact is a real estate marketing firm that provides proven marketing solutions through online tools and printed products. They aren’t your stock standard marketing firm, they do things differently and the benefits are many.
The most annoying thing about using services can sometimes be the fact that it is seemingly impossible to reach an actual human being when you’re having problems or just want to ask a simple question. Impact Marketing prides themselves on always being reachable to their agents. Their service is personalized at every step of the way, making it a more collaborative experience for agents.
They offer customizable materials for direct mail, including nurture campaigns so agents can “set-and-forget,” putting their brain power towards selling. Impact also offers list services where they manage contact lists or create general radius mailing lists with optimal demographic filters so agents target exactly who they want to. Impressing clients is easy with their high quality brochures and agents can make their own marketing materials from scratch with their Custom Desk program.
Mike McHenry, VP of Channels and Partnerships said, “Impact Marketing Specialists have built a great client base in the real estate industry and enjoy a great reputation. We’re proud to be partners with Steve and his team. The integration with Moxi Works provides an easy click for agents to order material and services from their Impact account.”
Impact will integrate with the Moxi Works Engage CRM product, allowing agents to click a button, taking them directly to the Impact system with all of the appropriate info, for a quick review and checkout process. It will also integrate with their contact list so agents can choose who the marketing pieces are sent to.
“Adding Impact Marketing to our Engage CRM product in genius. Snail mail will never cease to exist as a touch point for agents. It’s an important piece of sphere marketing that can’t be forgotten, and Impact gets it done right,” said York Baur, Moxi Works CEO.
What’s more is that Impact has dedicated Marketing Managers taking care of every step of the process, making marketing as easy as possible for agents. The solutions are endless. Plus, with lightning fast turnaround times, it’s hard to not fall in love with this team.
Find out more about Impact Marketing, starting with their innovative approach to social sharing: