Adoption rate is a key criterion when considering any tool for your brokerage. But how do you know if your agents will adopt and continue to use the tools you provide? As an experienced real estate solutions company, TouchCMA has been helping our broker clients get their agents signed up for TouchCMA with incredible success. Starting with a powerful tool and quickly getting the right training material in front of your agents is how to get your agents thinking, “Wow! I can really see how that could help my business.” Until that curiosity is piqued, there will be high resistance to adoption. In this post, learn how we quickly pique that interest and consistently achieve 70%+ adoption rates.
Low Adoption Rates Were Standard, Until Now
What defines “success” when it comes to the adoption of a product? To the average bystander, statistics that are considered highly positive in the real estate industry might seem small. According to the WAV Group’s 2012 study of MLS technology adoption (PDF), a 10% adoption rate is “quite impressive.” Agents have choices between tools, fears associated with switching tools, the task of learning and keeping up on hundreds of tools they already use. It’s no wonder product adoption is traditionally low among agents; they simply don’t have the time.
I Got 99 Problems & They’re All Product Adoption
Getting adoption traction with their agents is a major concern for every brokerage manager. Solving the product adoption puzzle would mean:
– Consistent branding and professionalism
– Reduced agent training burdens and costs
– Ability to attract and keep the best agents
– Increased agent efficiency
“Part of the challenge is having to adapt to so many changes within a relatively short amount of time. Starting with email and trickling through every aspect of the industry, technology has boomed in real estate over the past decade. The changes are daunting for a variety of reasons, particularly time, training, and fear—many experienced agents who are comfortable with their way of doing business but need to adapt are reluctant to do so,” – Tamara Marson, Windermere Broker
Overturning this attitude about technology can be accomplished with promotional education and outreach before a tool’s launch–to help assuage concerns over a change–combined with rigorous training materials and reliable technical support.
70%+ Agent Adoption: How It’s Done
As a real estate industry veteran with years of experience serving highly successful brokerages and thousands of agents, our experience and expertise in training and support has been central to the adoption strategy we take with our clients. We developed a broker-customized approach to adoption, and the results we’ve seen have been nothing short of incredible.
1. Provide brokers easy-to-use admin tools.
2. Provide a dedicated account manager for each brokerage client.
3. Train brokerages with tailored training materials, like webinars, videos & documents.
4. Provide ongoing and continuous support to brokers and agents.
“TouchCMA’s one-time setup and simple admin backend made it a breeze to quickly set up accounts for our team of 200 agents. The thorough training TCMA provided and their user-friendly interface were key components to our team’s quick adoption of the new tool.” – Jonathan Boatwright, Co-Founder, Realty Austin
Relationship-Centric Support: The Ace Up Our Sleeve
Our approach to getting high adoption is very relationship-based. We believe in building and maintaining partnerships with the brokerages we support; this leads to a deep understanding of our customer base’s needs. Asa result, our customer satisfaction rate is consistently over 90%.
“World class customer support is defined by going above and beyond. We offer to do what we need to do to turn their experience around for the better,” – Joshua Bentley, Customer Service Manager for TouchCMA.
A 100% satisfaction rating may seem an unreasonable goal, but high-performance companies can set and achieve these kinds of marks. Between maintaining a skilled, professional technical support staff and continuously developing our tools to be more intuitive, we will continue to see a rise in the rate of satisfaction.
The Results Speak for Themselves
Every brokerage customer is unique and using a tailored training approach combined with an active, communicative partnership with every client, has led to successful adoption of TouchCMA. In the last 12 months we have averaged 70% agent adoption of TouchCMA at our broker clients.
– Realty Austin: 97% adoption in 4 weeks for 200 agents
– Windermere Real Estate: 75% adoption over 2 years for 7000 agents
– Paragon Real Estate: 68% adoption in 4 weeks for 151 agents.
– Lyon Real Estate: 50% adoption in 3 weeks for 892 agents
– The Chico Association of Realtors: 25% adoption in 1 week for 400 agents
”Hands down the brokerages with the most successful product adoption rates are those that use the training materials we offer from the start. Once their agents understand the basics and methods we teach, successful adoption follows.” – Paul Quinn – Director of Client Services, TouchCMA
Now It’s Your Turn
Adoption rate is a key criterion when considering any tool for your brokerage. Starting with an incredible tool that excites agents is the first step. Build on that excitement with self-help, webinars, tailored training, and a dedicated support team, and you’ll be one step closer to having a successful product adoption at your brokerage.
Interested in getting TouchCMA for your brokerage? Contact us to get started.