Trying to improve your team’s output but not sure which technology to adopt? The key, according to kwELITE CEO Jeff Cohn, is communication — with your agents, with your colleagues and, most importantly, with your clients.
“A broker’s worst fear is that they are going to put all this money into new virtual reality goggles or a fancy tech platform and no one’s going to use it,” Cohn said. “To avoid that, ask your people about what they need.”
He and RE/MAX Capital Realty owner Kendall Bonner shared the best and most well-received tech products that they’ve implemented recently at the Inman Connect New York 2020 panel, “Tech Culture in Real Estate.”
Better video tools
If you’re looking for a product that’s almost guaranteed to bring in immediate results, invest in better video. This could mean buying better editing software or buying one or two specialized cameras. Bonner also uses an app called BigView to make closed captions for all her firm’s videos so that viewers can watch them without turning on the sound.
“Over 80 percent of people watch online videos with the sound off,” she said. “If you are not putting closed captioning on your video, people are just going to keep scrolling.”
During the panel, Cohn pulled out a pair of Oculus Go glasses, which his firm uses to offer clients a VR tour of homes they like before they discuss showing times. While such a high-tech option may not work for every brokerage, it is particularly helpful for those who serve spread-out areas and professionals too busy to go to too many showings.
The explosion of podcasts shows no sign of winding down. Many people can’t imagine their morning commute without their favorite program. A number of brokers, like Bonner, have started experimenting with the medium by publishing a few 30-minute episodes of themselves chatting about the latest real estate news, and found their clients asking when they’ll release the next one.
“It’s a great opportunity to provide content that teaches your customers what it’s like to work with you,” Bonner said.
They word analytics may sound boring, but knowing what works and where you’re wasting money is key to running any successful real estate company. Cohn uses a program called Sisu to see where each individual agent brings in the most sales and clients.
“One agent might do really well in open houses while another may excel at cold calls,” Cohn said. “The onus is on the owner to make sure that agents are bringing in the most income-producing activities.”