MoxiWorks February 19, 2021

Strategic Success for Brokerages Adopting Open Technology Platforms

(Image source: RealScout) Case study originally appeared on RealScout.com.*

Long & Foster Real Estate and Intero Real Estate Services’ decision to work with open-architecture tech MoxiWorks and RealScout pays dividends.

 

Technology is too often a headache for real estate brokerages, rife with buyer’s remorse, implementation disasters, and chronic low agent and consumer adoption. This directly contradicts the purpose of introducing new technology platforms to a business, yet it’s a story that’s far too common.

 

Two brokerages, Long & Foster Real Estate, a dominant brokerage in the Mid-Atlantic and Northeast, and Intero Real Estate Services, a similarly market-leading brokerage in the San Francisco Bay Area, avoided these issues, in part, by partnering with technology companies committed to an open ecosystem.

 

An open tech platform is one that champions the idea that relevant software platforms should work seamlessly with one another, and data should move freely as the customer wants. A closed tech platform, either in the name of an “all-inclusive”  approach or even competitive considerations, creates barriers that prevent seamless feature integrations and data transportability.

 

Strategically, both Long & Foster and Intero Real Estate Services recognized the value of open ecosystems, and they have made technology procurement decisions accordingly. No two tech companies better represent the success of this strategy than MoxiWorks, the leading real estate technology system with the first and only true open network platform, and RealScout, the leading solution for brokerages and agents to generate more business from their “sphere of influence.”

 

Both MoxiWorks and RealScout have designed their platforms from the bottom-up to enable integrations with 3rd party technologies and transportability of customer-owned data. Customers that adopt either MoxiWorks or RealScout, and especially those who have adopted both solutions, have reaped the benefits of partnering with open platforms.

 

 

  1. Simple, minimally disruptive implementation

Although some heavy-lifting is inevitable, open platforms like MoxiWorks and RealScout are best equipped to provide a seamless transition for both admins and users alike. When Long & Foster adopted MoxiWorks, MoxiWorks’ dedicated account management team developed a customized plan for implementation and training, leading to a smooth and successful onboarding process. Later, when Long & Foster adopted RealScout, thanks to the open 2-way integration between the 2 vendors, implementation was as simple as setting up a roster sync between MoxiWorks and RealScout, which automatically provisioned accounts, set-up basic profiles, and provided for automated maintenance of the accounts.

 

The positive effects of an easy implementation can be seen in overall cost reductions, higher adoption, and better user account management through integrated tools.

 

  1. Increased user value from feature interoperability

RealScout MoxiEngage Demo

Like most markets, agents at Intero generate a vast majority of their business via their “sphere of influence.” Engaging this audience is a multi-faceted effort that requires both CRM functionality as well as client collaboration functionality. Although all-inclusive solutions exist, MoxiWorks and RealScout are best-in-class solutions in their respective category. Thanks to their open platforms, instead of compromising on a particular solution, Intero could simply use both.

With MoxiEngage as the central source of client records, agents can easily SSO into RealScout to collaborate and convert their agents, knowing that incremental data is synced back into MoxiEngage. This seamless experience not only increases productivity for agents, it means clients receive more consistent and attentive customer service.

 

  1. Opportunities created by data transportability

It’s no secret that every agent, team, and even office have their own operational playbook, and especially for a brokerage as large and diverse as Long & Foster, there is no one-size-fits-all solution. One of the core benefits of an open-platform approach is the ability for it to accommodate a variety of lead-sources, marketing tools, and reporting outputs.

 

For Long & Foster, this means that MoxiWorks and RealScout, either directly or by pass-through, are connected with systems as diverse as: Zillow Connect, Realtor.com, Spacio, Buyside, ActivePipe, and more. This ability to accommodate a diversity of tools allows brokerages to empower their agents without reducing flexibility.

 

  1. Inherent future-proofing

One of the key concerns many brokerages have about technology procurement is the speed with which technology becomes outdated. Even the most cutting-edge systems, without constant iterations, can get left behind by more innovative companies.

 

The benefit of partnering with open platforms is that by integrating with innovative 3rd parties, brokerages can ensure that they aren’t getting left behind. Users, data, and workflows can be adapted to work with the latest tools, without completely abandoning legacy systems. Furthermore, since open platform companies can’t rely on high switching costs for customer loyalty, they continue to compete on innovation and value-delivery, as evidenced by both MoxiWorks’ and RealScout’s rapidly evolving offerings.

 

“Being an all-inclusive solution is never going to truly give a brokerage everything they need,” said York Baur, CEO of MoxiWorks. “This is why we decided early on that having a platform that lets our customers plugin the best solutions would be the ultimate route to success for each brokerage’s unique needs. RealScout is a great example of a great long-term partner that continues to help us fulfill the promise of this open platform strategy.”

 

RealScout Co-Founder and President Andrew Flachner added, “We share a strong conviction with MoxiWorks that brokerages should have meaningful control over their tech tools and data. While a walled-garden architecture might offer control, only when users and data can move freely between various platforms of choice, does control generate value. Our partnership with MoxiWorks exemplifies how brokerages are empowering their agents, clients, and themselves by building strategic value around their sphere of influence and data.”

 

The benefits discussed above are some of the most basic ones that brokerages, agents, and clients experience by partnering with open tech platforms. By rejecting the notion that software generates long-term value by locking-in their customers, open platforms empower their customers by embracing a diverse set of tools, users, and the opportunities they create.

 

For these reasons, Long & Foster and Intero’s decision to build their technology offering around MoxiWorks and RealScout was not only a tactical win driven by the immediate benefits of the two solutions but a strategic one that will continue to pay dividends in the future as the platforms continue to integrate and innovate, through open, transparent partnerships.

MoxiWorksProductivity February 12, 2021

January home sales dip, but signs of resilience abound

Last month we predicted that home sales in January would see a dramatic dip. It’s common in January to see a decrease in home sales after the holiday months and turn of the new year (between December 2019 and January 2020 there was a 24% decrease) and our model predicted we would see that again this month.

 

But then, on top of all the usual reasons for a dip, the now historic month of January 2021 happened.

 

Before you roll your eyes and say ‘yes, every month has been unprecedented,’ ‘every month has been unpredictable,’ January was an entirely different animal.

 

January was the worst month on record for the pandemic. As of January 27, 2021, we lost nearly 80,000 people in the U.S. to the coronavirus, just in January.

 

That is an unimaginable loss.

 

Then, there was also an insurrection, an impeachment, and an inauguration like we’ve never seen before. It was not your typical month, even by 2020 standards.

 

So, it’s really no surprise that the result was home sales dropping more month-over-month than they ever dropped during any month of the pandemic. During the pandemic, the biggest drop we saw was a decrease of 14% between March and April of 2020.

 

MoxiWorks Sold Listings Comp 2019-2020

Source: MoxiWorks Month-Over-Month Sold Listings (February and March are predictions*)

 

The good news is though, that we are not worried. As we have said time and again during all of this, we are resilient. This industry is resilient.

 

We’re confident and still hopeful that sales will pick back up very soon. Our predictor has remained directionally accurate each month, and we predict home sales to pick back up in February and in March with a 2% and 25% increase month-over-month respectively.

February and March Home Sales Prediction

 

Based on activity inside our products in February we predict there will be 385K home sales and in March there will be 483K. You can see the full scope of these predictions below.

 

MoxiWorks February Home Sales Predictor

 

With our predictions that means the number of home sales in February would be 13% higher than they were a year ago and for March there would be 15% more home sales than there was this time in 2020.

All signs pointing to recovery from the last few months.

 

Brokers and Agents. This is your time.

 

January proved once again the absolutely crucial role real estate agents play in helping their clients buy or sell a home.

 

Agents have always had an enormous role to play when it comes to the sale of a home, but right now, as the level of stress people are under continues to tighten its grasp, a professional and quality real estate agent is crucial to keep our ecosystem running. High-quality brokers and agents are needed to advise, mentor, and guide their clients during the buying and selling process, now more than ever.

 

Our communities have always and will always need you. Hear us as a technology company when we say, let the computers do the things computers are good at so that you can continue to do the things that humans, and only humans, are good at. Building relationships, showing compassion, and helping people buy and sell their homes to continue to build a better life for themselves.

 

We look forward to hopefully reporting back some positive outcomes for February, March, and beyond!

 

The Home Sales Predictor is a brand-new set of prediction data that dives into the number of presentations created and the correlated number of U.S. home sales. This data is provided by MoxiWorks with insights from their MoxiPresent product.

Get our Home Sales Predictor Monthly Report delivered to your inbox!

MoxiWorksPress Releases February 1, 2021

Three MoxiWorks Leaders Named 2021 RISMedia Real Estate Newsmakers

York Baur, Georgia Perez and Maddie Heye join exclusive group of industry leaders who have made newsworthy contributions to the real estate industry

 

SEATTLE, Wa. — (Feb. 1, 2021) MoxiWorks, the leading real estate technology platform, is pleased to announce that MoxiWorks CEO, York Baur, VP Business Development & Product Evangelism, Georgia Perez, and Director of Marketing, Maddie Heye, have all been selected as a RISMedia 2021 Real Estate Newsmaker—a dynamic group of key influencers making headlines as a result of their newsworthy contributions to the real estate industry, and their efforts to positively affect the consumers and communities they serve.

 

RISMedia, the leader in U.S. real estate news and information services, announced its nearly 300, 2021 Real Estate Newsmakers on Feb. 1, in both an online directory on RISMedia.com and in the February issue of its flagship publication, Real Estate magazine.

 

RISMedia’s 2021 Real Estate Newsmakers were nominated in 2020 by RISMedia readers and editors and are showcased in the following categories: Influencers, Trailblazers, Futurists, Achievers, Crusaders, Inspirations, Luminaries and Trendsetters.

 

York Baur MoxiWorks CEO Headshot

York Baur, MoxiWorks CEO

For the third consecutive year York Baur has been named a RISMedia Real Estate Newsmaker. This year Baur has been named in the Influencers category for years of having a leading voice in the industry and especially while navigating through the COVID-19 pandemic, sharing his inspiring philosophy to be productive, supportive and optimistic. He is constantly looking for ways to improve the industry to move forward, stronger than before. In 2020 Baur was awarded the Achievers category and in 2019 was among the Trailblazers.

 

“I’ve been fortunate to be at the helm of an incredible team of people who have helped to build an incredible network of customers that is now an ongoing force in our industry, ” said York Baur.

 

Georgia Perez MoxiWorks VP Business Development Headshot

Georgia Perez, MoxiWorks VP Business Development & Product Evangelism

Georgia Perez joins Baur in the Influencers category for her impact on the industry. Perez helped her team rise up and become the go-to resource for others with new and creative ideas, creating lasting and important relationships. This is Perez’s second consecutive year being named a Real Estate Newsmaker. In 2020 Perez was among the leaders named as an Inspiration.

 

“I felt more connected to people throughout the real estate industry in 2020 than I ever have before. We came together as a community,” said Georgia Perez.

 

Maddie Heye MoxiWorks Director of Marketing Headshot

Maddie Heye, MoxiWorks Director of Marketing

Maddie Heye was named a 2021 Trendsetter for her work as a leader as her team responded to the COVID-19 pandemic. Heye led the MoxiWorks marketing team by making sure MoxiWorks remained a positive and productive resource for the industry. Heye’s team even published Grit Unlocked, a book with contributions from 26 leaders in real estate, despite a drastic budget cut.

 

“This year has proven that when we face challenges, leaders in this industry are quick to share, learn from each other and innovate to progress the industry,” said Maddie Heye.

 

“Every year, we’re amazed by the incredible ingenuity and success of members in the real estate community, ranging from the glass ceilings being shattered by industry leaders, to the creativity and innovation being implemented at a record pace, and all the way to the wonderful charitable work being accomplished across the nation,” said John Featherston, CEO, president and publisher of RISMedia. “This year, more than ever, we are proud to recognize the hard work, dedication and determination of real estate’s finest professionals—the 2021 Real Estate Newsmakers—who went above and beyond in 2020 even amid a turbulent time for the industry, and the world, facing the challenges head-on and without fear. Help us in celebrating their hard-earned recognition.”

 

In January 2019, RISMedia announced its first industrywide Newsmakers Showcase, with more than 230 individuals honored. The 2020 Real Estate Newsmakers included 300 honorees and their achievements can be viewed in the 2020 Newsmakers Gallery.

 

To learn more about MoxiWorks visit moxiworks.com.

 

About MoxiWorks

MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 260 brokerages and 340,000 agents nationwide that account for more than 13% of the transactions in the U.S. MoxiWorks’ customer retention over the past seven years stands proudly at 96%. Their integrated tools are centered on sphere methodology that increases agents’ repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 50 partners that integrate to create unique brokerage solutions. Find more information at moxiworks.com.

About RISMedia’s Real Estate Newsmakers
RISMedia’s Real Estate Newsmakers is designed to recognize those individuals making headlines as a result of their newsworthy contributions to the residential real estate industry, and their efforts to positively affect real estate professionals and the consumers and communities they serve. RISMedia’s Real Estate Newsmakers were chosen based on nominations received through an online nomination process on RISMedia.com, and by nominations from RISMedia’s in-house editorial team and other industry sources. Nominations for RISMedia’s Real Estate Newsmakers are collected on an ongoing basis throughout the course of the year. There is no fee to nominate a Newsmaker or be recognized/featured as a Newsmaker. Due to deadline and production criteria, RISMedia’s 2021 Real Estate Newsmakers Online Directory may not currently be in its final format. Please check back for ongoing updates.

Press Releases January 22, 2021

MoxiWorks Welcomes AJ Canaria as Creative Producer

Esteemed industry photographer will help to tell creative brokerage stories

 

SEATTLE, Wa. (Jan. 22, 2021) – MoxiWorks, the leading real estate technology platform, is ecstatic to announce AJ Canaria has joined the team. Canaria will use his skills in creative storytelling, photography, and videography as their new Creative Producer to help continue to build brand stories for MoxiWorks and their brokerage clients.

 

Canaria is known throughout the real estate industry for his authentic partnerships and photography, covering the most notable real estate events across the country. He has spent his time capturing captivating photographs for events from Leading Real Estate Companies of the World, Inman News, RISMedia, Tom Ferry, National Association of Realtors, and Real Trends’ Gathering of the Eagles to Windermere Real Estate, and many other brokerage and technology partners.

 

“AJ is an incredibly talented storyteller who has grown his career capturing the world of real estate,” said Maddie Heye, Director of Marketing for MoxiWorks. “We are so thrilled to welcome him into the MoxiWorks family, where we’re confident he’ll be able to leverage his talents to tell the stories of innovation and growth in this industry.”

 

Canaria’s eye for detail when building beautiful stories is what makes him such an incredible asset to this industry.

 

“‘The creative adult is the child that survived’ has always been a favorite quote of mine,” said Canaria. “I made the decision to live a life of service and adventure to become a professional photographer. Along that journey I’ve come to understand that creativity comes from that child-like wonder, experimentation, and utilization of our collective experiences we have in our life.”

 

Prior to joining the MoxiWorks team Canaria worked as the creative brand ambassador for Inside Real Estate and was previously the creative director for PlanOmatic.

 

“Throughout my journey in the industry, I’ve come to learn how important relationships are and I absolutely love the people in the real estate industry,” said Canaria. “To learn about everyone, to collaborate with them, and tell their story is what I enjoy most about what I do.”

 

Canaria has been recognized as a RISMedia’s Newsmaker and just this week was named as a 2021 Inman Brand Ambassador which is celebrating its 10-year anniversary. Canaria joins the Inman Ambassadors alongside another beloved Moxian, Bret Calltharp, Director of Business Development.

 

“AJ has made such an impact on this industry in his career and we are thrilled to have him join the MoxiWorks team,” said York Baur, MoxiWorks CEO. “AJ’s passion for capturing stories and delivering beautiful results is evident in everything he does and we look forward to working with him to tell more stories with us.”

 

You can see more of Canaria’s work by visiting his site.

 

About MoxiWorks
MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 260 brokerages and 340,000 agents nationwide that account for more than 13% of the transactions in the U.S. MoxiWorks’ customer retention over the past seven years stands proudly at 96%. Their integrated tools are centered on sphere methodology that increases agents’ repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 50 partners that integrate to create unique brokerage solutions. Find more information at moxiworks.com.

 

MoxiWorks – Let’s sell more homes together

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For more information on this topic and other press inquiries at MoxiWorks, please contact Jordan Barrish at Jordan.barrish@moxiworks.com.

MoxiWorks January 19, 2021

The cure for the inventory shortage is sitting right in front of us

The Home Sales Predictor shows a continued increase in home sales as we move into 2021

 

We learned a lot in 2020.

 

We learned how to innovate in all new ways. We learned how to pivot at a moment’s notice as shutdowns spread. We learned new ways to use our technology. And, as Helen Hanna Casey put it during last week’s RISMedia’s Rocking in the New Year event, “we are better prepared than any year beforehand.”

 

While there was a lot we’d like to leave behind in 2020, these lessons learned, and skills gained are something to be grateful for.

 

One of the things that came out of 2020 for us at MoxiWorks was our Home Sales Predictor. The Home Sales Predictor predicts the trends of real estate agent activity within our products and the correlation to closed residential real estate transactions. And our predictions have been within 2% of the actual number of home sales each month.

 

It’s been so encouraging to see the way our industry bounced back this year and it seems that trend is bound to continue. Let’s take a deeper look.

 

 2021 Homes Sales Predictor – January & February

Based on activity inside our products during November and December of 2020, we predict there will 422K and 447K home sales in January and February respectively. Take a look at the graph below to see the continued trend of this correlation.

 

The MoxiWorks Home Sales Predictor – January 2021

Source: The MoxiWorks Home Sales Predictor – January 2021

 

The graph above shows there was the usual dip we would expect to see around the holidays (everyone needs to take some time to rest and recharge, especially this year). But, we are confident we will see the trend of home sales continue to pick back up as we are already expecting to see a 30% increase YOY from Jan 2020 and a 33% increase YOY from Feb 2020.

 

Curing the inventory shortage

 

“For years we’ve discussed that there is no need to limit ourselves to an average of only 5 million home sales each year,” said MoxiWorks CEO, York Baur.“So why has the industry continued to settle at this milestone?”

 

In 2020, there were 5.65 million home sales AND that is with a pandemic vs. the 5.25 million in 2019.

 

“For better or worse, this pandemic forced many agents to do what they hadn’t always done before and that’s make the market,” said Baur.

 

The inventory is there, it just has to be uncovered.

 

Let’s make the market

 

This is our battle cry for you and your agents for 2021. Don’t be a victim to the market, make the market.

 

Be proactive and give your clients the knowledge they need to make the decision to sell their home. The more knowledge you can disseminate to your clients, the more likely their confidence grows to transact. Agents should be a trusted resource who gives their clients annual, or even quarterly, property reviews keeping them abreast of their homes worth, but also the worth of homes in their area.

 

“2021 is going to be the year where the agent and brokerage that knows how to get listings is going to drive by the brokerage that is too focused on buyers,” says Baur. “If you can be better at finding and winning listings than your competitor, you are going to win.”

 

2020 proved that we can make the market. So let’s get out there and sell more homes together.

 

The Home Sales Predictor is a brand-new set of prediction data that dives into the number of presentations created and the correlated number of U.S. home sales. This data is provided by MoxiWorks with insights from their MoxiPresent product.

 

Get our Home Sales Predictor Monthly Report delivered to your inbox!

MoxiWorks December 10, 2020

MoxiWorks predicts 415,000 home sales in January to kick off 2021

 

We are approaching the end to a year like no other. We know a lot of people are ready to kick 2020 to the curb, but before we do that, we have our final home sales prediction and analysis to wrap up 2020 and jump into 2021.

 

Expansion and Growth

 

Specifically, in the real estate industry, we have seen so much grit, compassion, and expansion as we all pivoted to meet the needs of the year. While things were frightening (to say the least) in Q2, this industry has bounced back with a lot of fire.

 

Since September, sold listings have eclipsed nearly 100K transactions higher than they were in the same month in 2019.

 

“This is a gigantic delta and sign of the boom of the housing market,” said York Baur, MoxiWorks CEO. “And 2019 was no slacker year, it was also very strong.”

 

While the inventory shortage has been and remains a concern, movement in the market is still happening and will continue.

 

Home Sales Predictor

 

Based on the activity inside MoxiPresent during October and November, the MoxiWorks Home Sales Predictor predicts there will be 530K home sales in December and 415K in January.

 

MoxiWorks Home Sales Predictor for Dec 2020 and Jan 2021

Source: MoxiWorks Dec-20 Jan-21 Home Sales Predictor

 

The presentation run rate in October predicts that December will close out higher than November. And while we predict a dip for January, this is typical with every year based on a bigger push in October and the beginning of November to get stuff done before the holidays and the new year hits. That’ll be exacerbated this year due to the unusually short time between the Thanksgiving and Christmas holidays in 2020.

 

If our prediction is accurate that will put the total number of home sales for 2020 at 5.53 million. There were 5.43 million homes sold in 2019 according to NAR.  “Achieving this level of growth during a pandemic year that includes a gaping hole in the market in Q2 is a spectacular performance on the part of the residential real estate industry,” said Baur.

 

Looking to 2021

 

As we move into 2021 it’s important to focus on the pieces of your business that you can control. We learn during every downturn, recession, or set back that the strong survive. When you can set your business up for success to weather any storm you will always bounce back.

 

From reviewing our Home Sales Predictor data this year we now know that you have a secret weapon. You can look at the number of presentations your team has done and know how many sold listings you will see two months out, which means you can know ahead of time if your agents are going to be hitting their goals or falling short. Instead of reflecting on your data, you can use the leading indicators in this data to see what sort of action needs to be taken ahead of time.

 

Use the data you have to your advantage. Continue to look for ways to think about your numbers in new ways to stay ahead of whatever curveball gets thrown our way next.

 

Cheers to a safe, healthy, and prosperous New Year!

 

The Home Sales Predictor is a brand-new set of prediction data that dives into the number of presentations created and the correlated number of U.S. home sales. This data is provided by MoxiWorks with insights from their MoxiPresent product.

 

Get our Home Sales Predictor Monthly Report delivered to your inbox!

MoxiWorks November 11, 2020

Home Sales Predictor Predicts 490K November Home Sales

 

It’s November. The air is crisp, the holidays are heading our way, and homes continue to be bought and sold. This has been a year of complete uncertainty, but thankfully the real estate industry has bounced back and continues to show its resiliency.

 

November/December Home Sales Predictor

 

We’re back this month for our latest predictions using our Homes Sales Predictor. Using the activity inside our presentation tool, MoxiPresent, we are able to look two months out and predict the number of home sales.

Based on the activity we saw during September and October, we are predicting there will be 490,000 homes sales in November and 519,000 in December.

 

MoxiWorks Home Sales Predictor Graph

Source: MoxiWorks, Home Sales Predictor tool with predictions for November and December 2020

 

Some thoughts from MoxiWorks CEO, York Baur on these predictions and the market:

 

“The fundaments of residential real estate remain very strong – after a difficult Q2 as we entered the pandemic, the market has come roaring back in Q3, and we expect that to continue well into 2021.

While you may read headlines about looming foreclosures and other negative opinions, I believe that the market will remain buoyant through next year based on three fundamental factors:

Demand from people who are changing their housing need or location based on the work-from-anywhere trend, the fact that Millennials and Generation Z are entering the housing market in large numbers, and the prospect of continued low interest rates.

While low inventory remains a constraint, our leading indicators show that agents were in front of more consumers in October, talked to them about listing their homes, and that should bode well for December closings, as well as creating further momentum for the beginning of 2021.”

 

As York says, we expect to see the market continue its recovery and to remain strong. Agents must continue to stay in flow with their sphere of influence to help push to create more inventory.

We’ll see you in December!

 

The Home Sales Predictor is a brand-new set of prediction data that dives into the number of presentations created and the correlated number of U.S. home sales. This data is provided by MoxiWorks with insights from their MoxiPresent product.

We’ll be back each month to make our predictions on what’s to come and to also reflect on the predictions we’ve made. Sign-up below to receive these predictions in your inbox each month.

Get our Home Sales Predictor Monthly Report delivered to your inbox!

Podcast October 13, 2020

Episode 15: The evolving role of real estate websites with Brian Boero

Brian Boero, the CEO of 1000watt, joins York Baur on the podcast for a candid conversation about the evolving role of real estate websites. Brian has spent 23 years in this industry and knows a thing or two about branding. Especially when it comes to websites. York and Brian discuss the importance of the brokerage website, how it has evolved over the years, and how to cultivate a sense of meaning behind your brand and website. For weekly insights from the talented minds of 1000watt subscribe to their newsletter by visiting 1000watt.net.

MoxiWorks October 8, 2020

MoxiWorks predicts October and November U.S. Home Sales

Home sales and inventory. It’s all anyone in the real estate world can talk about the last few months.

And, rightfully so.

Lack of inventory means a decrease in home sales, a key headwind facing the otherwise impressive housing rebound we’ve seen since the pandemic began.

But, we have some good news. Based on leading indicators inside our products we are able to make predictions for home sales, two months into the future.

Introducing the Home Sales Predictor 

We’ve found that the activity inside MoxiWorks’ industry-leading real estate presentation builder, MoxiPresent, correlates to the number of houses sold nationally. We are able to make predictions two months out on how many homes will sell nationally, based on agent activity.

In the Home Sales Predictor graph below you will see both the activity inside MoxiPresent over the last two years, as well as the number of U.S. home sales. With over 95% of the U.S. home sales footprint in our system and over 10% of agents in the U.S. using MoxiPresent, we are able to make this correlation and prediction.

 

Home Sales Predictor by MoxiWorks 2019-2020 Data
Video: Learn how it works.

So, what does this mean for you and your brokerage? Whether it’s buyer or seller presentations, property reviews, or any other type of presentation, the number of presentations that are created correlates to the inventory and listings in your communities.

“Brokerages and their agents are in the unique position to help create more inventory by being proactive with consumers,” said York Baur, CEO, MoxiWorks. “When an agent presents to a buyer or sell, or to a consumer on the value of their home and what’s going on in the market, they are creating movement in the market. With more than one million presentations having been created using MoxiPresent we have the data to back this up.”

October & November Predictions

Based on the activity inside MoxiPresent in August and September we predict there will be roughly 541,000 home sales in October and 534,000 in November.  And note, while it’s based on MoxiWorks’ proprietary and national MLS data, it doesn’t necessarily predict the results in any specific regional or local geography.

Ali Rae Lundberg, MoxiWorks Data Analyst shared, “We of course know that any data from roughly March-June across the board skews us away from any sort of normalcy. But, after removing the COVID months from our regression model, our prediction for September came within 1% of the actual number of sold listings for September.”

Looking ahead

For some, 2020 has been a really tough year. For others, they were able to take advantage of this pandemic, adopt the necessary technology, and have been thriving. No matter what kind of year you are having, what we’ve always known and now have proof of, is that the more presentations your agents can produce, the more inventory we can create and the more business we can close.

Let’s sell more homes together.

 

The Home Sales Predictor is a brand-new set of prediction data that dives into the number of presentations created and the correlated number of U.S. home sales. This data is provided by MoxiWorks with insights from their MoxiPresent product.

We’ll be back each month to make our predictions on what’s to come and to also reflect on the predictions we’ve made. Sign-up below to receive these predictions in your inbox each month.

Get our Home Sales Predictor Monthly Report delivered to your inbox!

Press Releases September 8, 2020

Commission Confidence with eCommission, now a MoxiWorks cloud partner

SEATTLE, Wa. (September 8, 2020) – MoxiWorks, the leading real estate technology platform, and eCommission, the number one provider of commission advance services to real estate professionals, have announced a new partnership that will give MoxiWorks’ clients access to earned commissions prior to an estimated settlement date.

For 20 years eCommission has been helping agents control the timing of their commissions. Not a loan, but a way to control your business cash flow and win more sales, eCommission exchanges a portion of a future commission for a fee, to get funds advanced before closing.

We are excited to partner with MoxiWorks to give users the flexibility to conveniently access their commissions whenever they want them,” said eCommission Founder & CEO, Sean Whaling. “Working capital is important for every business. Our service makes it easy for agents to have the income consistency needed to keep their businesses running smoothly.”

With thousands of satisfied customers and over a billion dollars advanced, eCommission is proven at funding pending commissions on an agent’s schedule.

“We’re thrilled to have eCommission join our cloud partner network,” said Krista Thomsen, MoxiWorks’ Senior Manager, Partnerships & Integrations. “Giving brokers and their agents a trusted resource to control their business cash flow means keeping things moving even during times of uncertainty.”

To learn more about this partnership, or to apply for a commission advance, visit www.ecommission.com/moxiworks or contact your MoxiWorks account manager.

About eCommission
eCommission is the leading provider of working capital to real estate professionals since 1999, with more than $1.4 billion of commissions funded to satisfied customers nationwide. eCommission is a nationally endorsed alliance partner to the industry’s largest real estate brands, independent brokerages and technology companies. More information can be found at www.eCommission.com.

About MoxiWorks
MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 260 brokerages and 340,000 agents nationwide that account for more than 13% of the transactions in the U.S. MoxiWorks’ customer retention over the past seven years stands proudly at 96%. Their integrated tools are centered on sphere methodology that increases agents’ repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 50 partners that integrate to create unique brokerage solutions. Find more information at moxiworks.com.

MoxiWorks – Let’s sell more homes together

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For more information on this topic and other press inquiries at MoxiWorks, please contact Jordan Barrish at Jordan.barrish@moxiworks.com.