By York Baur | March 9, 2020
Mike DelPrete put it best at ICNY 2020: “The industry is moving very slow, but it’s never moved this fast.”
Franchisors are building their own technology at record rates. New proptech companies are popping up everywhere. Acquisitions and consolidations are becoming more common. There’s an electricity in our industry that’s been simmering for the last few years.
And, it’s exciting.
But it’s also been a time of uncertainty and, quite frankly, fear. Especially for the brokerages and agents all of this surrounds. I know there has been frustration, agents shuffling, lots of money changing hands, among other concerns. But, the best piece of advice I have during this age of transformative innovation and perceived disruption is simple:
Stop using the disruptors as a benchmark for your success.
Sure, they’re flashy. Sure, they’re mainstays in the news and claiming data that may or may not be true. But comparing your brokerage to their definition of success isn’t the way to measure your success.
Every brokerage is a tech-enabled brokerage
It’s true. Every brokerage is a tech-enabled brokerage, whether you build your own technology or not. And brokerages, both traditional and new, who are leveraging data and embracing the fact that they’re tech-enabled are seeing the benefits. We took a deeper dive into our data by looking at 10 of our largest client brokerages representing over 50,000 agents. We found that, on average, agents with a high usage of MoxiEngage CRM increased their transactions by 85.3% from 2018 to 2019. Even agents with a lower usage of MoxiEngage still increased their transaction count by 41.2% during the same time period. And while we believe our products are best in class, the reality is using whatever tools you have will make you better whether they’re from MoxiWorks or not.
Everything you need to be a “tech-enabled brokerage” already exists in the marketplace and agents at any brokerage with leading technology will see an impact on their business, even if your brokerage isn’t one of the “disruptors.”
A case for the mistaken market share
Market share is of course another way to reflect on your brokerages’ success, but make sure the data you are comparing it to is apples to apples and not apples to grapefruits.
For example, it’s easy to claim impressive market share to scare the competition when the sample size of that share is disproportionate. Compass made claims at the end of 2019 towards their 20/20 by 2020 vision that a number of their markets are close to 20%. But, 21.3% market share of Malibu, CA is certainly not the same as only 6.6% of LA county. And 33% in the concentrated D.C. market is not the same as only 7.3% in the DC metro area, just like 17.8% in Downtown Dallas is not the same as only 2.9% in the Dallas metro area.
While a lofty goal, there is still more than enough market share being held by other brokerages and to that we say keep it going. Instead of letting the disruptors distract you, focus on things that truly reflect success in your business. Focus on your team and your success.
The pomp and flash won’t last. Just remember, the data doesn’t lie. Big signing bonuses and other carrots being dangled in front of agents are sometimes tough to combat, but you should really be more concerned with yours and their retention rates, instead of recruitment rates.
Why? Because agents who left Compass in 2019 were only there for an average of 295 days, so less than one year. In the 2019 National Association of REALTORS® Member Profile report, they found that the median tenure for REALTORS® with their current firm was four years.
So focus on what you’re doing to recruit and retain your agents. If the industry average is indeed four years of tenure at a company, take a look at your data and see how long your agents are sticking around to determine whether you might need to make some adjustments to continue to have your agents remain at your brokerage. And remember that using technology to increase agent productivity can solve your recruiting and retention problems: productive agents are happy agents who stay at your brokerage and recruit others to it.
The road ahead
The quote written above my office from Marshall Goldsmith is a reminder to us every day and it should also be a reminder to you:
“What got you here won’t get you there.”
While I believe you have everything you need at your fingertips, I also believe you need to be proactive and provide an environment of ‘Training + Systems + Coaching’ to retain your agents and help them continue to succeed through the age of disruption.
And look, we have to give Compass credit. They set a lofty goal, and good on them for doing that. Every company should. Creating that mission, that rallying cry is a great way to not only motivate their teams but gives them something to measure.
So, instead of letting them distract you from your goals, take it to heart instead. What are your goals?
Their goal doesn’t say anything about anyone else, so think deeply about your brokerages’ goals for the company and for your agents and use that goal to measure your success.
And don’t stop there. Announce it to the team, bring it up in meetings with your team and with your stakeholders. Develop leading indicators of your progress and measure them routinely with a scorecard. Hold yourself accountable for the goals you set and what you are trying to achieve. We do this at MoxiWorks and I promise you that you will see better results by doing so as well.
There will always be disruptors. Don’t let them derail your focus. Instead, stay lasered in on your success metrics and your goals and continue to help your agents thrive with your brokerage as their home.
York Baur, CEO
Software solutions for real estate brokerages abound. As you look at your options, initial price and implementation are likely top of mind. But these factors only tell part of the story — you’ll want to understand your total cost of ownership (TCO) before you decide on the right solution for your business. Be sure to get answers to questions in these six critical areas before you sign on.
6 Big Questions to Ask Every Real Estate Technology Vendor About TCO.
6 Big Questions to Ask Every Real Estate Technology Vendor About
- Will this software grow with my company’s goals?
- Does the software come with usage limitations, and how do the limitations work?
- How easy is the software to use?
- What should we plan for in terms of in-house maintenance requirements?
- What kind of technical support will we need in order to use the software every day?
- How secure is our data, and what happens in the case of a disaster or downtime where we can’t access our software?
1. Will this software grow with my company’s goals?
Now that Software as a Service (SaaS) dominates in most industries, you are less likely to run into a purchase becoming outdated. However, does the software provider know their future intentions? Or, does this product seem like a quick-fix, a bandage, for your existing problem?
What questions should you ask about the “expected lifetime” of the software?
- Is this a new product, or has it been on the market for quite some time?
- What new products does the vendor have in the pipeline that might replace the one you are considering?
- How long do they plan to support the existing product?
2. Does the software come with usage limitations, and how do the limitations work?
If you don’t plan ahead there can come a point in your average daily usage that you find a limitation in the software. What does “typical” usage look like, and what are the costs if we exceed usage limitations?
- How many users can I have per license?
- How many devices can run the software at the same time?
- Can we access the software from both the desktop and mobile?
- Is there a limit to the amount of data storage?
3. How easy is the software to use?
Questions about ease of use apply to many aspects of how your brokerage will implement a new solution and they are important to ask ahead of time. This will help you better frame how your staff and agents will continue to embrace it over time. Be sure to understand the nitty-gritty about customization, data migration, implementation, adoption, initial and ongoing training, and expected timelines for each of these pieces. These items could affect the actual cost of the software as well as the enthusiasm of your agents and administrative staff. You want happy, engaged team members who can readily put the new tools to work.
Here are the questions you should ask about the software’s ease of use:
- How easy is it to onboard?
- What is the average time it takes for new clients to implement and start using the software?
- What is the time investment for the initial training?
- How much ongoing training is included?
- How difficult is data migration?
- How long does data migration take?
4. What should we plan for in terms of in-house maintenance requirements?
When considering the total cost of ownership, you need to look at how you will handle the inevitable upgrades over time.
Questions you should ask regarding ongoing maintenance:
- Do we need to have a dedicated in-house maintenance person?
- How hard will it be to maintain our software?
- Do we pay more for software updates or bug patches?
- At what point would we need to upgrade our licenses?
5. What kind of technical support will we need in order to use the software every day?
Even with the most user-friendly software, glitches, frozen screens, and technical issues happen. And let’s face it — real estate agents exist all over the tech-savviness spectrum. You’ll want to understand what’s promised for basic support and troubleshooting and whether you’ll need to make an additional investment to assure broad-based usage.
Questions you should ask about support and troubleshooting:
- What type of support is offered with our license?
- Is there a time frame or a limited number of support hours we get with our package?
- What happens if an agent has trouble with the software? Are we charged per call?
- How easy is it to reach a support person? What hours is support available?
6. How secure is our data, and what happens in the case of a disaster or downtime where we can’t access our software?
What safeguards does the software vendor have in place to help you keep your business safe, secure, and operational through any situation? The real estate industry is fast becoming a high-risk target in identity theft and wire-fraud schemes. You want to ensure you’re aligning with partners that take security seriously.
Questions you should ask about security, disasters, and potential downtime:
- What kind of security is included with our licensing?
- Are automatic backups included?
- Do we need to purchase additional external or cloud storage?
- Will we need to hire an additional security service provider for our software?
- Will we be able to access our data during a natural disaster?
- Software downtime affects our efficiency and agent productivity; what assurances do we have about software connectivity?
Ask these questions about any real estate software solution you are seriously considering. You’ll get important answers, and you’ll also help the vendor you eventually choose support you more constructively. And when you ask the vendor about data responsibilities, support, troubleshooting, ease of use, maintenance, and expected lifetime, you can better estimate the TCO of your new software. If a vendor doesn’t have an answer, you may want to go with a provider who already has these processes — and more — covered.
Georgia Perez, VP of Business Development and Product Evangelism | Feb. 12, 2020
It’s no secret when considering a software purchase for your business, price is top of mind. If you’re going to spend money on a resource, it has to deliver a certain amount of value, making it worth the expense. But, did you know by only considering price and anticipated value you could be setting yourself up for unforeseen costs? A software investment should always be considered in terms of the total cost of ownership, or TCO.
The 411 on TCO
Gartner defines TCO as “a comprehensive assessment of information technology costs across enterprise boundaries over time.” Price only takes into account the one-time or recurring subscription fees. TCO includes additional expenses that may not initially be apparent. Simply put, TCO is the aggregate of all costs–either direct or indirect–related to buying, implementing, and managing a software solution over its entire lifecycle.
According to TechnologyAdvice, TCO should be the ultimate driving force behind your purchasing decisions. According to TechnologyAdvice, a TCO analysis is vital “because it determines your ROI. Without a TCO analysis, software can surprisingly cost a business upwards of 5-8x the original purchase price. This difference in expenses can significantly affect a business, its ROI, and overall success and/or livelihood.”
Being able to understand how much software is going to cost your business over the long term will ultimately enable you to make a more confident purchase decision and achieve the strongest ROI.
In this guide, we’ll walk you through the various factors to consider when contemplating a software investment and the components that should go into a TCO analysis.
Searching for Software: Two Common Mistakes
It’s imperative to properly perform a TCO analysis to find the ideal technology platform. But, before diving into what should be considered, let’s start with two common mistakes so you know what to avoid.
- Only Considering Hard Costs
The first mistake a potential buyer often makes is only considering “hard costs,” such as set-up fees, annual or monthly subscription costs, and anticipated upgrade charges. Software license and subscription costs often amount to less than 10% of the total initial purchase.
- Not Forecasting for Disruption
The second mistake is not forecasting for disruption. Any software platform you choose is going to disrupt what you are currently doing so it’s important to not only prepare for that disruption time but also be on the lookout for a product that is going to be the least disruptive and most worth the disruption.
Being aware of these common mistakes and making a conscious effort to avoid them will set you up for success. Now, let’s dive into the components that should go into your TCO evaluation.
The TCO Analysis Guidebook
When performing a TCO analysis, consider the various possible costs in five parts:
When assessing software vendors, it’s critical to understand how each of their cost structures differs so you can ensure your vendor of choice is best for your business. Not all of the costs mentioned below will necessarily apply to your software purchase or specific vendor, but it’s important to be informed of all possibilities to find the software that will deliver the strongest return on your investment.
1. Acquisition Costs
Acquisition costs can be defined as the cost of acquiring the hardware and/or software needed to use the platform of choice. Think of acquisition costs as the one-time, yearly, or monthly price of the software itself. The SaaS pricing model typically includes a fixed one-time fee along with a recurring fee that varies with usage.
2. Implementation Costs
Implementation costs are those costs associated with set up according to your unique business requirements. These include:
- Customization – Will you need the software to be customized in some way? That may require additional development costs. Take into consideration that some systems may be naturally more customizable than others and therefore more cost-effective.
- User licenses – Many cloud-based SaaS offerings charge you based on a per-user license model. (Hint: Inquire about a bulk discount if it’s a system that will be widely used in your organization.)
- Initial training – This can often be the biggest burden of the implementation costs. But, investing in training early on is a valuable way to ensure successful implementation and continued usage.
- Data migration – If you’re transitioning from an older system, does the new vendor charge to transfer data? Be sure to ask what that process looks like and how much it costs. (Tip: you can often take care of it yourself at a much lower rate).
3. Operating Costs
These are the costs associated with keeping the software platform successfully running as your business grows. They include:
- New user licenses – As your business grows you may need to purchase new software licenses down the road. Account for that potential in your TCO analysis.
- Ongoing training – Ongoing training may also be required for existing users as a software system is updated or as those users want to increase their familiarity with the platform.
- Upgrades – While not always the case, some vendors charge for version upgrades.
- Administrative costs – Does your software of choice come with free support? Or, does the vendor charge you for support credits? Be sure to understand what that cost could look like overtime.
4. People/Resource Costs
- Administrator/internal champion – Do you have someone in-house whose full-time job it will be to maintain, support, and promote the software? Or, will you need to hire a new employee to serve as the platform’s administrator?
- Consulting – Some vendors provide consulting services at no extra cost for a few weeks or months after launch. Capitalize on this. However, in some cases, you may feel that your vendor isn’t providing enough resources, and in that case, you may have the added cost of hiring a consultant.
5. Soft Costs
A key piece of TCO analysis is accounting for “soft costs.” These are often the most overlooked parts of an analysis as they’re not easily apparent. According to Gartner, these are the indirect costs of operation that often creep up outside a planned budget. “Soft costs are critical to the understanding of enterprise costs. They represent real expenses and ignoring soft costs will generally cause TCO strategies to fail.” Here are some soft costs to keep in mind:
- Potential downtime – With cloud-based offerings, downtime is rarer than it used to be, but it’s still very possible. Consider the costs associated with not having the software and how its absence would affect your team’s productivity.
- Migration costs – What happens if a better solution comes along that you feel compelled to leave your vendor of choice? Be sure to find out how difficult and costly it is to migrate away.
- Potential disaster – What happens if your vendor goes out of business? Maybe they get acquired and can no longer service your chosen solution. It’s important to think of your vendor as more than just a technology platform. Like you, they’re a business. Do they have a strong management team? Are they well-funded? You should be confident in the vendor’s long-term sustainability before signing on the dotted line.
So, before you make a purchase decision and invest in a software platform, put together your own analysis using some of these factors. Taking the extra time to do a TCO analysis will help you truly understand the impact of your investment, ensuring that it’s on track to deliver strong ROI and lasting results.
SEATTLE, Wa. (Jan. 28, 2020) – MoxiWorks, the leading real estate technology platform, and Opendoor, the online real estate marketplace that radically simplifies home buying and selling, announced today a new partnership offering brokerages and their agents a seamless integration when using the MoxiCloud suite of technology.
MoxiCloud users will now be able to present clients with automatic and immediate offer estimates from Opendoor on qualified homes within their comparative market analysis (CMA), MoxiPresent.
“MoxiPresent has already helped agents win over 10% of the listings in the US last year, and adding Opendoor’s innovative technology will make it even better,” said York Baur, CEO, MoxiWorks. “MoxiWorks is about helping agents be great, and that means serving as a trusted advisor to clients as they contemplate the sale of their home. Opendoor allows the agent to offer choice, and help the consumer choose the path that gets them the best outcome for their situation.”
MoxiPresent is an easy-to-use presentation builder that can be used to create CMAs, as well as open house presentations, neighborhood tours, relocation presentations, buyer tours, and it now includes instant offers and real-time updates on offers from agents and clients with Opendoor.
“As technology transforms how people buy and sell homes, we believe it’s also carving out an even stronger opportunity for agents to serve as true advisors to their clients,” said Tyler Hixson, Director of Real Estate Partnerships and Strategy, Opendoor. “We envision more agents incorporating iBuying into their business strategies, and empowering their clients with more certainty and choice. Our partnership with MoxiWorks is yet another way agents are able to provide home sellers with the options they need to make the best decisions for themselves and their families.”
Opendoor’s mission is to empower everyone with the freedom to move and has helped more than 65,000 customers buy, sell, or trade-in a home.
The MoxiPresent, Opendoor integration is available to brokers and agents in Sacramento, CA, Austin, TX, and Raleigh-Durham, NC with plans to expand to additional markets over time. To learn more about this integration visit moxiworks.com.
Opendoor’s mission is to empower everyone with the freedom to move. Since 2014, Opendoor has provided people across the US with a radically simple way to buy, sell or trade-in a home. Opendoor currently operates in 21 markets in the US and is headquartered in San Francisco. To learn more, visit opendoor.com.
MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves more than 260 brokerages and 340,000 agents nationwide accounting 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. MoxiWorks also powers the LeadingRE Cloud. Find more information at moxiworks.com.
For more information on this topic and other press inquiries at MoxiWorks, please contact Jordan Barrish at Jordan.firstname.lastname@example.org.
For press inquiries related to Opendoor, please contact Charles Stewart at email@example.com.
By Jessie Trapp, Marketing Coordinator
November 21, 2019
Here at MoxiWorks, we have such an abundance of signature sayings and mantras that we’ve practically created our own language.
While each and every one of them contributes to the culture and environment that we’re all fortunate enough to be a part of, there’s one in particular that we truly value to our core.
That saying is simply: “Think outside the building.”
Giving back to our communities is something that should be made a top priority year-round, but as the chilly winter months arrive it’s especially important to go above and beyond with what we do for others.
When it comes to doing good, our belief is that the more is always the merrier. Here are a few ways to get your sphere involved in showing gratitude to those in need this season.
Host a donation-based exercise class.
Contact a local cycle or yoga studio and ask if they are willing to volunteer their space and an instructor’s time to co-host a charity event. Invite your exercise obsessed contacts to your class in exchange for a reasonable donation. Promote it on your social media channels and encourage the studio and possibly even the charity (depending on which one you choose) to push it on theirs as well.
In one sweaty event, you are partnering with a local business, donating to charity, growing your sphere, and getting a killer workout in. Talk about multitasking.
Play pet matchmaker.
Although humans are important too, don’t forget about the furry friends out there who are in need of a home.
Consider partnering up with a local animal shelter to help match stray animals with loving homes. This could be something as major as hosting an adoption event, or as subtle as posts on social media or add-ons to one of your regular emails/newsletters.
Who doesn’t love seeing a cute animal pic? It certainly won’t do any harm, and even if your contacts can’t take in an animal themselves, they may be able to connect you with someone who can.
Organize a park cleanup.
Hosting an event to cleanup a local park is a great way to get people involved while also having some fun outside. Make sure to have all the supplies you’ll need ready to go. This includes bags to put trash in, music to keep the spirits high, snacks to keep people working hard, and treats to keep the people happy.
Not only is an event like this good for the environment, but it’s an easy way to make a big impression on a lot of people, all at one time.
Hosting a food drive for those in need is a fairly straightforward way to make an immediate difference in one’s life, however, instead of simply putting the word out about it – make it more personal.
Send out an announcement about it to the people that make up your sphere and offer to personally pick up their donations from them. Although it may require more work from you than simply having them leave it at your doorstep – trust us on this one. Picking it up yourself provides you with a valuable opportunity to make a face-to-face impression they won’t forget.
After you collect the donations, make sure to send out a “your community thanks you” note in the following weeks to those who participated. Not only will this extra step help you stay top of mind and reinforce the positivity, but they’ll appreciate the acknowledgment that they made a difference is someone’s life.
Donate in their names.
Although this might not be a realistic action for everyone in your sphere, pick the main people that you believe are likely to list sooner than later and make a reasonable donation to a charity in their name. Send them the certificate with a note explaining it. Oh, and make sure the packaging looks pretty.
Although it may not be as personal as a face-to-face interaction, it will surely boost your rep and make them more likely to think of you the second they decide to list.
Let’s face it – all of us could probably stand to go without a few items in our closet, especially if they haven’t seen the light of day since the 80s. As with the food drive, do your best to pick up the clothing donations from your clients personally.
Consider taking it a step further by including the specific organization that their donations will be going to. Not only will it force you to be more organized, but it will lead them to become more invested and (hopefully) more likely to be generous with their donations.
Another meaningful way to donate is to make care packs for the homeless. These can really include anything you’d like, but many care packs include items such as:
• Toothpaste & toothbrushes
• Gloves/warm hats/socks
• Handwritten notes
• Protein bars
• Hand wipes
• Band aids
• Dog/cat food (if they have a pet)
You can either simply collect donations and create the packs yourself, or you can host a party where everyone works together to fill the bags. Either way, it’s a great way to make people feel cared for through some good old-fashioned teamwork.
By Tiana Baur, Marketing Manager
October 30, 2019
In our forever quest to provide the best tools, services, and experience to our clients, we continue to grow and expand the MoxiCloud open platform. For us, making onboarding easy is a major priority and we’re proud of just how easy that process has become. However, like technology, onboarding can always get better and faster as well, which is why we’ve partnered with API Nation to make our easy onboarding process even easier.
How it Works
Changing technology solutions can be hard, especially when you have to move over years and years of contacts, that sometimes even exist in different places. Now you can bid tedious file work adieu. Instead of having to go through the often-painstaking process of moving over your own contacts to a new CRM, API Nation quickly and accurately syncs them into your MoxiEngage CRM account for you!
Agents can bring over full contact information, including notes and custom fields (yay!), and API Nation automatically imports and ensures 100% integrity of that data, so agents can rest easy knowing that every important piece in their sphere is in MoxiEngage and ready to go. That means all of your client’s birthdays, house-iversaries, and more will seamlessly move into your new CRM.
The entire process only takes about two minutes to set up and one minute to complete. We know, how fast, right?! If you’re currently a user of MoxiEngage you can try it out for yourself here!
More on how this integration works here.
More on API Nation
The heart and soul of API Nation is very similar to that of MoxiWorks, which is what makes this partnership and integration that much more exciting! Since launching, API Nation has been working to connect software systems and expand their power and reach by building and automating workflows between them.
From sharing contacts with marketing systems, pulling real estate listings from MLSs into brokers’ tools, to automating e-commerce orders, invoices, shipments, and payments, each app they connect, and each workflow they build, saves thousands of hours and brain cells from mundane, tedious work.
We’re so excited to have you on the MoxiCloud open platform, API Nation!
By York Baur, CEO of MoxiWorks
October 22, 2019
As we race towards 2020, we find ourselves in the late stages of the longest market expansion in United States history, which has led to some of the largest sums ever invested into real estate technology. To put things in perspective, back in 2008 there was only $20 million invested, whereas today that number sits comfortably around $4 billion.
While this is generally a good thing, there is a major thorn in the side of it all: the fact that the early projections for many companies of the amount of investment it would take to achieve success was wildly inaccurate.
Assumptions vs. reality.
The data challenges in residential real estate, combined with the investment required for enterprise-class systems, mean that many companies have underestimated the investment needed to achieve scale and profitability. Not only that, but many technology companies chose to sell directly to real estate agents because to them it looked like a shorter path to revenue. Unfortunately, that carries with it a massive customer churn and high customer acquisition costs, both of which limited the ability to get to meaningful revenue.
All of this makes for many, many companies in the real estate technology struggling to raise money and remain viable. The problem is, how can you tell who will survive and thrive and who will be hanging on for dear life or worse yet, gone altogether?
Brokerages beware: You must vet your technology before you sign the dotted line.
To all brokerage customers out there, beware – you need to research the financial health and financial backing of your vendors or it might end badly. The key is choosing an open platform vendor so that you have flexibility to change products out easily if and when they fail. None of us, me included, can truly know who will win and lose in the technology race so you need to protect your brokerage and agents for whatever the outcome may be.
Industry Consolidation + Risk Aversion
With the recent news of the Soft Bank’s WeWork disappointment and a very uncertain future for their other real estate investments and endeavors, we are going to start seeing risk aversion on the part of investors looking at our industry. Industry consolidation is a natural thing. As everyone races one another, only a handful come out on top. When that happens, the best-in-class products will be acquired and/or merged with other best-in-class products, and those that have struggled will likely lose out.
That’s why a well-capitalized platform provider is also a safer choice because they are in the best position to acquire the companies that are struggling and produce future stability for you and your business. It’s obvious that risk aversion and industry consolidation is near, and everyone better be ready for it when it arrives.
By Jessie Trapp, Marketing Coordinator
Looking for another way to gain a competitive edge? Always. Thanks to our latest integration, users of Buyside and MoxiPresent will have the capability to impress clients, appear tech savvy, transact more often, and one-up competition every step of the way.
The award-winning presentation builder, MoxiPresent, is already helping agents across the country do 43% more transactions per year. And now, we’re combining our superpowers with Buyside to do something no one else in the industry is doing – adding innovative Buyer Market Analysis report functionality to a powerhouse presentation builder.
Here are five ways our deepened integration with our certified partner, Buyside, will rock your real estate world:
1. Create on-the-fly Buyer Market Analysis reports.
Gone are the days of copying & pasting Buyer Market Analysis (BMA) reports into your listing presentations. This new integration allows you to include a powerful, real-time BMA report directly in your MoxiPresent presentation the moment you have a seller interested in your services.
2. Facilitate meaningful discussions.
Buyer Market Analysis reports allow you to answer two major questions each and every one of your sellers has:
- What is my home worth?
- Are you confident you’ll be able to find buyers for it?
With the data provided in these reports, you’ll be able to have meaningful discussions surrounding these questions with your clients during listing presentations using up-to-date, local data.
3. Introduce your clients to qualified buyers.
Don’t just tell your clients you have buyers interested in their listing, show them. Go above and beyond by handing your clients a list of unique, qualified buyers actively looking for a home like theirs in the area.
4. Illustrate the demand.
Ease any worries your sellers have about factors such as transaction speed and price with the help of the a clear, easily digestible buyer heat map. This will illustrate where the buyer demand is concentrated in their area in relation to their home and add context to any related estimations you provide them with.
5. Demonstrate the power behind you and your brokerage.
Sending potential clients these BMA reports will demonstrate the abundance of potential buyers that are actively engaging with your brokerage. Having this confidence as they begin working with you will ease many of the fears associated with selling a home, particularly for first-time sellers.
6. Offer something competing agents can’t.
The average person knows approximately ten real estate agents. Chances you become the agent they choose to work with after sending an informational, data-driven report enabled by this integration are high. The more pain-free and simple you’re able to paint the picture of selling a home, the more clients will feel inclined to work with you!
There are countless benefits that come with being part of an open platform, including the ability to grow and innovate over time. This deepened integration with Buyside is a perfect example of how partnering with other best-of-breed vendors allows us to set the bar high and keep our clients competitive in the long-run, regardless of what changes come our way.
Want to see more on our Buyside + MoxiPresent integration? Checkout the video below!
By Jessie Trapp, Marketing Coordinator
We’ve all been blessed with their presence – the Fredrik Eklund’s of the world who walk into a room standing tall with annoyingly perfect posture, captivate their audience by simply existing, and project attention-demanding confidence to everyone surrounding them. Having this kind of presence comes natural for some but for others, it’s SO much easier said than done.
The importance of portraying yourself with confidence applies to all facets of life, however it’s especially important within the realm of real estate where your ability to do so holds the power to make-or-break your entire career. Whether you’re giving a listing presentation or hosting an open house, it’s essential that prospects and clients perceive you as being confident in yourself for them to even consider placing their own trust in you to buy or sell their home.
It’s difficult to convince others of your confidence if you, yourself don’t actually feel it. With some help from Jen Sincero, the confidence-oozing author of the book You Are a Badass: How to Stop Doubting Your Greatness and Start Living and Awesome Life, we’ve compiled five tips for boosting your confidence and obtaining that amazing posture, pronto.
One: Put yourself first.
“Take care of yourself as if you’re the most awesome person you’ve ever met.” ― Jen Sincero
In order for you to appear confident to others, you take care of yourself in every way possible.
Eat food that makes you feel good inside. Get outside. Move your body. Buy clothes that make you feel like a winner. Take personal days when you need them. Pet tons of dogs. Take luxurious baths. Listen to music that makes you feel happy.
Whatever it is, do it because it makes you feel like the best version of yourself.
Two: Embrace a growth mindset.
“The only failure is quitting. Everything else is just gathering information.” – Jen Sincero
Perfection (if there’s even such a thing) doesn’t come to fruition overnight. It takes time, practice, trial, and error to perfect your craft. Instead of giving into your natural instinct to be afraid of failure, learn to embrace it. Each failure presents you with an opportunity to grow and learn how to improve your performance the next time around. The more you can enter situations feeling sure that – failures and all – you’ll come out on the other end feeling stronger and more successful, the more you’ll be able to achieve and the more confident you’ll feel.
Three: Take risks.
“Nobody who ever accomplished anything big or new or worth raising a celebratory fist in the air did it from their comfort zone. They risked ridicule and failure” – Jen Sincero
The more you expose yourself to new situations and experiences, the more you’ll be forced to push through the unknown and uncomfortable feelings that come along with them and prove to yourself that you’re capable.
Never been a seller’s agent? Go for it. Never experimented with social media marketing? Definitely try that.
The more you push yourself, the more you’ll grow and succeed in ways that far surpass those who stay within the confining boundaries of the comfort zone they’ve built for themselves. Be bold, try new things, and allow yourself to be confident in the risks you take.
Four: Don’t worry too much about what others think of you.
“What other people think about you has nothing to do with you and everything to do with them.” ― Jen Sincero
The harm that comes from spending your time worrying about what others think about you extends much further than wrinkles. People who lack confidence tend to worry a lot about what others think of them, but here’s the deal – those people that you’re worrying about are in the exact same boat. They, too, may very well be stressing over what you think of them. And if we all start spending our precious time worrying about what everyone else thinks of us, we would become the least productive and innovative society EVER, so let’s not let that happen.
Stop spending your time looking for other people’s approval and start setting your own expectations and goals for yourself, they’ll take you much farther.
Five: Form the right habits.
“Our thoughts become our words, our words become our beliefs, our beliefs become our actions, our actions become our habits, and our habits become our realities.”
― Jen Sincero
We all tend to get stuck in our ways. We listen to the same radio stations, watch the same TV channels, and turn to the same news sources for the latest buzz. Prospective clients are looking to work with an agent who’s cutting edge, innovative, and known as the crème de la crème in their neighborhood – something that’s hard to become if you’re creating a box for yourself. Be confident that you’re on the track to becoming the best agent you can be by opening your mind and choosing to be a sponge for any bit of helpful information you can soak up. A few tips for achieving this:
Tip 1: Actively devote time to keeping up with the latest methods, tools, and trends. Get in the habit of checking (different) news outlets while in line for your morning coffee and turning on notifications for the #realestate hashtag so that you’re always up to date on the current industry happenings.
Tip 2: Dedicate time to studying the newest successful agents to the game, see what’s working well for them, and emulate some of their practices in your own business. You’ll never know if you could be even more efficient and productive than you are now if you never try new things.
Following these 5 tips for boosting your confidence will help refine your craft, grow your expertise, and improve your mindset, all while boosting your confidence in your ability to deliver as a real estate agent. Walk tall and proud – you’ve got this!
At MoxiWorks, we’re committed to building integrations that bring value to brokerages, agents, and vendors by improving and streamlining workflows. We want to be the ubiquitous open cloud platform, which means anyone can join! That means even competitors to some of our very own products are integrated with the MoxiCloud. After all, we want the power of choice to stay with the brokerage.
We want our partners to share our vision and contribute to making the MoxiCloud even better. One of our more recent partners is LiveBy! They have a unique way of serving up content that benefits consumers during the home search and makes agents’ jobs easier.
So, what is LiveBy exactly?
LiveBy is an all-inclusive local data company that works with 200 of the top real estate brokerages across North America, four of the leading networks/franchises, and 118,000 agents. They are dedicated to streamlining the home search process by removing all ambiguity around location. By leveraging LiveBy, real estate websites drive robust, real-time, local content that increases SEO and provides an amazing search experience.
Essentially, LiveBy’s technology gives real estate professionals a new way to connect with homebuyers through local content. Agents can provide their clients deeper insights into neighborhoods and streamline the discovery process.
Local content pages = hyper-local content, on demand
Neighborhood content is valuable when it comes to attracting visitors to agents’ sites, keeping them there, and building credibility in a particular area. However, it can be costly to gather, curate and maintain this content. LiveBy’s Neighborhood Pages deliver customized and dynamic content for all of your local communities…in seconds!
Enhanced websites. Showcasing local expertise.
LiveBy makes it easy for brokerages to launch hyper-local content on their existing websites. Their data and content become part of the site to help drive search engine optimization (SEO) and engagement. LiveBy also allows for brokerages to tap into a new kind of “neighborhood lead,” capturing potential sellers and buyers 12, 24, or 48 months earlier in their search process.
Agents can be the go-to source for all community and neighborhood information by:
• Providing local content
• Creating an interactive experience
• Capturing higher qualified leads
• Increasing website engagement
• Effective client nurturing
LiveBy supports local data and unique content for all 50 U.S. States, Canada, Bahamas and Cayman Islands. Their coverage includes access to the largest proprietary library of neighborhood boundaries, along with cities, subdivisions, school districts, zip codes and more. Companies can also create custom boundaries on the fly and offer insights that have never been seen.
Find out more information on LiveBy here.