Questions — and answers — to help you choose the right technology for your real estate brokerage.
To run a successful real estate brokerage, technology is a necessity. It can help you work faster and more efficiently, make better decisions, and maintain a competitive edge. But with so many options to choose from, how do you know which technology is right for you? It’s time to talk tech to help you make the right decisions for your brokerage.
Q: What problems are you trying to solve?
A: This is a critical, foundational question and the basis for need. The last thing you want is a tech solution that’s disjointed or doesn’t address real needs for your brokerage. Here are some areas where technology might serve you:
- Generate new leadsHelp your agents better manage leads and client communicationRamp up marketing effortsImprove agent retentionImprove accounting and financingTrack data in your customer databaseManage internal and external communicationsMigrate to paperlessCreate an easier experience for both agents and customers
Q: What technologies are being used by other professionals in the industry?
A: The National Association of REALTORS® (NAR) conducted a 2021 technology survey to see what realtors and brokers deemed to be the most valuable technology tools for their business. Here’s what came out on top:
- eSignaturelocal MLS apps/technologySocial mediaLockboxesVideo conferencingCustomer relationship management tool (CRM)DronesCyber security5GVirtual reality
Pinpoint which tech tools align with your needs and then look to the industry leaders for guidance on your technology decisions. For example, many top real estate brokerages utilize the all-in-one CRM kvCORE. This premium platform features all the bells and whistles you’d expect to run a successful real estate business today.
And according to NAR, drone usage is a growing trend in real estate. If this is a consideration for your brokerage, make sure you understand the legal ramifications associated with its use. Read NAR’s information on drones.
Q: Does the technology pass your cost-benefit analysis?
A: Whether the technology is super simple or layered and complex, it has to align with your budget. Conduct a cost-benefit analysis before finalizing any decisions. Avoid doing this analysis in a vacuum. For example, you might decide that it’s cost-prohibitive to purchase a CRM like kvCORE on your own, but when you affiliate with a franchise like Weichert, you get all the benefits of this premium platform as part of your franchise agreement.
Bottom line: think of technology as an investment, not just a cost, and how this investment dovetails with your overall business objectives.
Q: What level of support will the technology require?
A: It can be daunting to learn a new system. Are you prepared to train your agents and be ready to answer their questions as they arise? What if something goes wrong? There will always be kinks that need fixing, questions that require answers, and things to learn to truly maximize what the technology has to offer. What support will you have in place over time to help you manage it? This is an important consideration to think through prior to your investment.
Q: How can Weichert help?
A: Weichert understands that having an overwhelming number of technology options can be challenging, frustrating, and confusing. We take away the guesswork, having already done the research and vetted a platform that works. So as an Affiliate you can rest easy knowing you are getting best-in-class technology through our myWeichert powered by kvCORE platform. We maintain the vendor relationship, the troubleshooting and staying on top of updates. Plus you and your agents get the support and training needed from our team to get up to speed quickly and leverage it to increase business. All you have to do is plug in. This helps you get the most out of your investment and feel more confident in your day-to-day work life.
What questions do you have about technology? About our industry? About Weichert? Let’s talk!