Have suggestions for products that you’d like to see reviewed by our real estate technology expert? Email Craig Rowe.
Stacks, an app built by New York City real estate broker Nicholas Palance, recently took second place in the “Leasing and Brokerage” category at REBNY’s 2020 Proptech Challenge. The conference was held virtually in December.
Palance described his app in its 2019 review as a “FitBit for real estate performance” because it’s able to benchmark an agent’s business activities against their potential financial fitness.
Stacks includes goal-setting features and client value predictors, and it consistently measures a user’s number of listing presentations, showings, offers and open houses held or attended.
Palance recently shared that, along with a 2021 rebrand, his app will go live with a number of new features and updates, including a significant price reduction and white labeling opportunities targeted at brokerages, teams and coaching organizations.
Stacks said in an email that the white labeling and custom branding programs will be the company’s primary focus for the next 12 months.
With the new version of Stacks, brokerages will be able to fully integrate activity measurement tools, allowing office heads full transparency into agent business performance. The same level of control will also be available for team leaders.
Coaches, too, are now able to use Stacks as a dynamic, live look into how well their clients are adhering to plans and tasks, and sustaining their goals.
Additional tools for coaches within Stacks include a system of KPI (key performance indicators) reminders and an administrative dashboard for monitoring progress.
Users can be updated daily, weekly and monthly as to how they’re meeting goals for calls, appointments, offers made, offers accepted and other related business activities, and their coach will be able to intervene when necessary.
Referrals will factor heavily into January’s updates, too. Agents will be able to advertise needs and wants to the app’s entire user-base, privately and securely.
Additionally, in a move that will help Stacks appeal to independent agents and smaller teams, Palance is building out what he calls, “a full-scope transaction management” solution for release sometime in the first quarter.
An emphasis for the new capabilities will be data privacy. Palance considers deal and business information sacred.
“As a broker myself, my time and my client relationships are all I have and I know my clients appreciate me keeping their data under lock and key,” he said in email. “Stacks’ core principles aren’t aligned with harvesting, selling or otherwise monetizing agents’ precious client data.”
Stacks transaction solution will be broker-agnostic. “This means if/when an agent switches companies, their client data is their own and moves with them without any friction from a brokerage,” he said.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.