By Jessie Trapp, Marketing Coordinator
In the world of real estate, we all hear the seemingly constant buzz about the ever-evolving technology that is shaking up our industry. The traditional ways in which real estate has been conducted are slipping away, and brokerages and agents alike are being left scrambling to define what they do, and exactly how they ought to do it. The movement to incorporate technology into real estate practices is tempting and, in many aspects, necessary to keep up and maintain a competitive edge. The pressure to stay current with the movement can be daunting, in fact, 48% of all real estate firms consider keeping up with the tech advancements to be one of the most significant challenges they are facing today. The question that arises here is: what technology does one actually need in order to achieve success?
When searching for new software for your brokerage, make sure you’re confident when it comes to exactly what benefits you are hoping to gain from bringing it on board. Further, that you’re aware of the tools you will need in order to fully utilize it. The process of acquiring new software can be costly and have the potential to put a major strain on the financial health of your brokerage if done incorrectly. Simply handing your agents a fancy new program and leaving it at that won’t anyone any good, and definitely won’t rock your agent’s socks off. In order to see the jaw-dropping ROI you are looking to get out of your software, it will require you to invest the time and money into the implementation process so that your agents are continuously being trained on how to use it and actively receiving value from it.
In light of this, avoid the common mistake of buying technology solely for the sake of buying technology. Instead, raise your bar high and purchase software that you deem absolutely essential in order for you to achieve success, and then gear your efforts toward making sure that you are getting everything you possibly can out of it. After all, what’s the point of having flashy technology if you don’t get value from it? No point. The answer is that there’s absolutely no point to that at all.
Here are a few steps we suggest you consider taking before sealing the deal to maximize your success:
Step One: Clearly define your goals.
Look beyond the buzz and clearly define what you are hoping to achieve by incorporating new software into your business. After you decide on a goal, articulate what metrics you will use to gauge when you’ve successfully reached it. Clearly you want your goals to be centered around the main interests of your company. Here are a few that we here at MoxiWorks like to focus on:
- Improving the quality of your marketing efforts
- Increasing lead generation
- Strengthening CRM
- Increasing agent productivity
- Retaining current agents
- Recruiting rockstar new agents
The main takeaway here is clarity. Be able to state what your goal is, and how you will measure its success.
Step two: Look for the missing parts.
Once you define your goals and establish your metrics, it’s then time to create a game plan for how you will go about achieving them. This requires first conducting extensive research within your brokerage to ensure that you are utilizing the skills you already have, making worthy investments in the technology, and avoiding the expensive mistake of double-dipping in resources. Start asking questions to get a clear insight into what you already have covered, and what you will need to look externally to find.
- What types of resources do you already have within your brokerage that can help you reach your goals?
- What steps can’t you complete without the implementation of new technology?
- What does your timeline for onboarding new technology need to look like?
- Will you need your technology partner to supply onboarding assistance and continuous training, or do you have tech savvy agents that can support others in the process?
Asking questions like these will assist you in finding the missing pieces within your own team, and help you pinpoint exactly what you will need to get out of your technology partnership.
Step three: Treat yourself to a technology shopping trip.
After you discover what kind of technology you need, it’s time to begin the hunt for the right company to partner with. Taking the time to complete the previous steps beforehand will make this process much more straight forward. Make sure to compare different options and take on a “What can you do for me?” approach. Brush up on the major players for that kind of software in order to be perceived as educated and become more likely to get a better price.
At MoxiWorks, we know that you have a unique set of goals and needs. This is why we created the MoxiCloud, an open platform of tools that are designed to help you reach your goals within a variety of different segments of your business. We even have a team of amazing Account Managers available to help your onboarding run as smoothly as possible and ensure that your agents have the tools they need to achieve incredible levels of success with our platform. Our clients are happy with our plug-and-play style, and we want you to be too. Take a look at what they have to say.
By York Baur, MoxiWorks CEO
2018 is looking to be the year of the mic drop. With the LeadingRE’s Cloud announcement recently behind us, subsequently comes another. RE/MAX acquired technology company, booj, in order to future-proof their stake in the industry. First of all, congrats to booj for this epic announcement and sale, it’s what every entrepreneur dreams about. I’d also like to congratulate the other end of the deal, RE/MAX, for embracing a great technology solution for their vast number of agents.
Now, for all the existing booj customers out there that are independent brokerages…
Chances are, you might not like that your technology is now controlled by someone perceived as your competition. There’s no way to sugar coat it. You may, as a result of this, want to change out all or part of the technology you have from booj, because you don’t know that you’ll continue to get everything you need from them. However, you still need to compete.
The truth is, an open platform is the only way to future-proof your brokerage against the rapidly-evolving technology space, especially when not everyone out there can afford to make investments into technology like SoftBank, Keller Williams, and RE/MAX can. The Moxi Cloud not only future-proofs your brokerage, but it also gives you the next most important thing: Choice. It allows you to plug in the tools you already love and unplug the tools you no longer want – like a power strip. Moxi Cloud can help you more so than any single-source product from a franchisor.
The Moxi Cloud open platform, for example, now has over 40 integrated tools and services – DocuSign, Imprev, Intuit, Buyside, Offrs, Flipt – to name a few. Our brokerage clients get to pick any and all they wish to, and all their data, tools and services live in one place, working seamlessly with their roster, brokerage assets, CRM contacts, MLS data, and more. Our cloud grows every single day, since our existing and new brokerage clients are wanting to plug in more of the great tools that already work for them, allowing them to retain their current investments. A true win-win.
In the end, our goal is very specific: Make brokerages more profitable, by making their agents more productive.
We have and always will have the backs of the brokerage. Plain and simple. And we understand the need for their existence in the future, no matter how advanced technology becomes. There will never be a greater replacement than that of the human connection and the safety one feels when working with their trusted advisor: their real estate agent.
I hope all you independent brokerages out there reading this will take it to heart and not only consider what I’m saying, but pick up the phone and call us (the number is at the bottom of our site). Maybe you want some questions answered that you feel you won’t get candid answers for elsewhere. Maybe you want some more info on the Moxi Cloud. Maybe you just want to know the lay of the land in all this tech mumbo jumbo. Whichever it is, we’re happy to take your call, no strings attached.
By Regina Kelley, Senior Manager, PMO & Quality Assurance
I love what I do here at Moxi! I have been a Moxian for almost five years and have had the opportunity to wear many different hats in that time. My role has morphed and changed, year over year thanks to my amazing and supportive manager, Mark Carlson, who continues to believe in me, challenge me, and give me the opportunity to do what I love – being a leader at Moxi Works.
My proudest moment being a leader here at Moxi has been helping a fellow Moxian grow his own career and watching him become a strong and successful leader. Andy’s journey these past nine months is worth sharing and could perhaps inspire others to grow their own careers as well!
Be an expert or demonstrate knowledge
Andy started his career as a summer intern while he was still in college and rocked the testing world right out of the gate. His performance and attitude earned him a full-time position when he graduated, and over the next six years Andy expanded his knowledge and perfected his craft. He worked hard to grow his testing and technical skills, quickly becoming our team’s go-to-guy!
Find a path, make a plan
In the first quarter of 2017, we were beginning our Quarterly Review Cycle and were talking about his goals and what was next. Our discussion lead me to ask Andy what he enjoyed most about his job and what he does daily here at Moxi. His answer came fast: He enjoyed the technical aspects of testing! He also mentioned enjoying helping his fellow teammates… So we went with it!
I approached our VP of Technology and pitched the idea of this new role on the testing team and after getting the thumbs up we created a new role just for Andy to drive and work toward – a technical lead.
The testing team had never had a lead before, so I asked Andy to do some research and define this new role and with that, a path was created. He created a plan and off he went to work toward achieving this new goal. I am a big believer in employees taking control of their own careers and this is a great example of how to get started. Find a path, and make a plan!
Create opportunities for growth
In order to grow on this new path, to become this new Technical Lead, I had to create new opportunities for him to step up. The more responsibility Andy took on and succeeded at, the more his passion grew for what he was doing, so much so that he even began creating his own opportunities for growth. It didn’t take long for Andy to reach that goal and we had ourselves a Lead.
He was doing so well and gaining so much momentum in his new role, I started asking, what’s next? How do you feel about Leadership and Management? Again, with the quick answer – I’m not interested in that, I like the technical side. But I could see that he did enjoy helping his fellow teammates and mentoring – and he was natural at it! So, I suggested to him a new growth opportunity – to mentor/ manage an intern. Although reluctant at first, he jumped in with both feet.
After that our weekly check-in meeting dynamic began to change. As the weeks went by it shifted from strictly a test status update to more focused conversations about leading and mentoring on the team. We talked about the best ways to get things done, how to grow his mentee and help others on the team continue their growth. Every week Andy walked away with new objectives and opportunities for him to stretch himself in a different way, a non-technical way.
After a couple months went by I asked Andy how he was feeling about his mentorship, and his answer didn’t come quite as quickly as before – surprisingly, he was really enjoying it! I could see the great leadership potential Andy had, he just needed to see it in himself.
Strengthen what you love
Andy and I will continue to rock the testing world here at Moxi together, and we will continue to push him and give him new opportunities to try different things – even things he may not know he will enjoy.
If you take one thing away from this story, know that you can do this too. Start by asking yourself what you love most about what you do every day, and go with it! Share that with your manager or mentor and look for new opportunities to push yourself outside of your comfort zone and take chances. You won’t know until you try, and you may find a new passion you didn’t even know you had!
By Tiana Baur
Keller Williams recently announced that they have a one-billion-dollar budget to set aside for their technology. You read that correctly, a BILLION. The idea that a smaller brokerage could be able to invest that kind of money to create and maintain their own technology is absurd. Not every brokerage is a Keller Williams and we bet that billion they’re investing in their technology is just the beginning. How does any other brokerage compete with that? You can’t, not at this level of investment. However, you don’t have to sit back and let them bring you to a slow and painful death either.
What is the Keller Cloud?
The Keller Cloud is a fully-integrated cloud solution. That means it is a single platform for agents to run their entire business. Like most brokerages, they felt their agents were getting fatigue from constantly having to switch tools, so they took matters into their own hands. The Keller Cloud integrates all of their tools, CRM, lead generation, transaction management, etc. streamlining work for their agents. They have truly made technology their number one investment. If you’re curious or terrified (which you should be) or both, you can find out more about the Keller Cloud here.
Recruiting & Market Share
If you’ve been following Keller Williams at all lately then you also know they are growing their agent count like crazy by focusing a lot of their efforts on recruiting. In fact, we encourage you to look at the market share in your area. Chances are they have more than the last time you looked. Like a quiet cougar sneaking up on their prey. It’s really quite impressive what they’ve accomplished and the moves they continue to make in our industry. They get it, they embrace technology and change, and are better for it.
How you survive and thrive – open platform integration
So, how do you compete with this? How do you compete with their level of investment and their striking growth rate? Easy. You can future-proof your brokerage with an open platform.
The Moxi Cloud, for instance, is also a fully-integrated solution that can be modified to fit your unique brokerage, all for a much smaller price. The Moxi Cloud open platform keeps all your tools in one place, including data from your agent roster, property data from your MLS, brokerage assets, brokerage data, consumer data, agent CRM contacts, and an API that allows any tools you want to plug in and play nicely. Your CRM, lead generation, transaction management, literally everything.
There is so much change in our industry and the rate at which change occurs is only going to speed up. It’s the open platform integration that gives a brokerage business the flexibility to evolve and live on. Brokerages that ignore it or choose to go a traditional route won’t survive beyond 2020. Let the technology geeks handle the technology, stay competitive, and don’t let the Keller Cloud kill you.
It’s quite simple really, embrace the change and become stronger for it, or drown in a sea of tech-savvy brokerages.