By Marc Chouaniere, VP of Marketing, MoxiWorks
It’s no accident that three of the largest and most successful regional real estate brokerages in the U.S. use MoxiWorks – which we extend to help 72 other independent brokerages as well. We pride ourselves on providing best-in-class tools and services to our clients, but what does that mean? Best-in-Class is a set of superior solutions (an entire toolbox) for a given market vs Best-of Breed which is a single tool (a hammer).
While I’m still learning about the intricacies of the real estate industry (I come from a fairly diverse software background), I am very familiar with best-in-class or best-of-breed technology solutions. Best-in-class simply means; Your product or service is what your customers revere as superior and the standard by which all others aspire to. You are the highest level of quality, the benchmark of top performance, the best of the best. Often you are the first to innovate and continually lead in your respective category. I was fortunate to have had worked at Microsoft early in my career to engrain a solid sense of high standards in building and maintaining best-in-class discipline in product execution and team leadership. However, small companies can also quickly catapult themselves to best-of-breed, as is the case with my recent experience at Icertis in the enterprise contract management space. Getting to this level takes deep focus and commitment but staying at the top can be equally as challenging. MoxiWorks was built by agents and brokers that live and breathe real estate every day to deliver one thing; best-in-class.
How we became best-in-class
Best-of-class can be achieved in many ways. At MoxiWorks, our recipe for success comes from a deep connection to real estate (being born out of Windermere), a passion for improving the experience for our agent and broker customers, and a focus on thinking about what’s the next innovation we can bring to our products. This, coupled with a leadership team that hires and nurtures the best talent with the insight to know how to shape the right course or to get out of the way when people need the freedom to push the boundaries of convention. Additionally, we think about the whole market. We align with select partners that benefit the entire ecosystem since we know that no company that is best-in-class can be a solution island.
It’s also several other unique things, like the wonderful depth of collaboration we have. I sit right next to the support desk and hear every day how we can evolve and become better. On my other side I have the development team, who regularly bounces ideas off my team to gain a perspective on how customers might receive a new feature or a change to a current product. Having the entire team under one roof is so valuable when needing to be extremely agile to create the best solutions in the market.
As with my joining MoxiWorks, we have recently been bringing different people onboard with diverse experiences to think outside the box and learn how other industries have brought innovation to their business.
What “best-in-class” means for your agents
Due to constantly having to change out old technology for new technology, agents now have major tool fatigue. Because of this they are ultra-sensitive to new tools, so they need to be thoughtfully integrated in a way that doesn’t take a lot of time or effort (or another password to remember) on their part. When it comes to technology, a brokerage’s value proposition needs to be centered around helping them grow their business and making their lives easier, putting more time and money back in their pockets. Therefore, picking the best tools and services for the type of business that your agents do and the style of your unique brokerage, while minimizing the hassle factor, is essential.
Best-in-class helps you accomplish this. Because we have a strict vetting process, you can rest assured that the Moxi Cloud tools and services are truly best-in-class and choosing amongst them will minimize the need for changing them out in the future, making tool fatigue a thing of the past.
This is all thanks to MoxiWorks having an Open Platform which allows technology and service companies to integrate and share data. Without an Open Platform you would lose a system that makes it easy to find and know when to use the various best-in-class tools and services provided, SSO (single-sign-on), and the data sharing that eliminates the need for data reentry.
Best-in-class doesn’t just mean superior tools for your agents, it means an entire ecosystem seamlessly working together, driving your agents’ success and making their day-to-day life more efficient and rewarding.
Agents today have more options than ever of which brokerage they can take “their talents” to. The ability to attract, recruit, and retain top talent is more crucial than ever if your brokerage is going to dominate the competition in your market. What measures are you taking to ensure your business is the “it” place to work?
If it has been awhile since you reviewed your brokerage resources for agents, perhaps it is time to take an internal audit and reassess your value proposition. Questions to consider:
- Why would agents want to work here?
- What do I offer agents that the competition does not?
- How do I help agents be more productive and focused on selling?
If these answers are not immediately coming to you, chances are there is something dated with your brokerage process. To get back on track think two words: open platform.
An open real estate platform gives you the power to customize your brokerage to fit your brand and business needs. An open platform works like this: pick and choose, or, “plug and play” from a wide range of options to provide the types of solutions that best fit your needs. Just like a power strip, you can connect the things you want at your brokerage, and not the other stuff.
Competitive Advantage #1 of an Open Platform: Customization. Tools and services come and go all the time. With an open platform, choose the right combination of CRM, CMA, Leads Management, Print, Intranet, etc. that works best for you and your agents. In other words, keep the products that are used most plugged and sunset or unplug those that have fallen out of favor. The ability to customize your platform as needed empowers you to continuously providing best-in-class to your agents.
Competitive Advantage #2 of an Open Platform: Continuity. The power of having all of your tools plugged in and able to talk to one another in real-time should not be underestimated. If your agents know that their listing information will be shared and viewable from their CMA, to the CRM, and even to digital advertising solutions like Facebook advertisements, how much more productive does that make your agent’s time?
Competitive Advantage #3 of an Open Platform: Your Data. Why is data important? Think of brokerage data like digital currency; the more you have, the richer the intelligence and value proposition of your brokerage. If you can articulate both historical and current information data across property, brokerage, agent and consumers across all levels of your brokerage, the ability to identify new areas of business opportunity can be yours for the taking. Seriously.
Need help in determining your current brokerage proposition to agents? The first place to start: figure out which type of brokerage platform do you have.