Real estate veterans swap unbelievable transaction stories on a weekly basis. Showings with over 100 guests in a weekend, more than 40 offers on a home, and offers of $100,000 and moreover asking once might have felt akin to a fisherman bragging to his friends about his “big catch,” but have now become a very real and believable part of the marketplace.
With homes flying off the market, is technology still an important piece of an agent’s repertoire, or has that been replaced by good old-fashioned real estate fundamentals like masterful negotiating and marketing?
How to avoid shiny object syndrome
The answer is mixed. While it feels like technology has taken a temporary backseat in an agent’s bag of tricks, it would be foolish to think it doesn’t still hold merit in what an agent brings to the table. How are real estate companies stepping up to the plate to reimagine how their technology supports their agents? And perhaps the more important question, how are real estate companies measuring the effectiveness of these tech products for their agents and not just offering them the next shiny object?
One answer proven to be effective is to build tech with agents, not just for them. At Coldwell Banker, we have taken that as our mantra when it comes to creating products. We work in tandem with our network of nearly 100,000 to ensure we are on the pulse of what they need to be successful no matter what market they are in. This strategy is helping our agents to sell more homes, make more money, and live exceptional lives. Because of our agent-driven strategy, affiliated agents who utilize products within our technology suite are twice as productive.
Read more: Growing your business during moments that matter
Find tech that meets your demands at every stage of the transaction
No matter where an agent is in their career, whether new to the business or a top producer, technology can help them to not only feel supported, but also be a differentiator in how they serve their clientele. Today’s market is equal parts fast and fierce. Being able to conduct business as a mobile agent may feel like table stakes but finding the right technology products to support that can be extremely costly and time-consuming.
One of the most popular destinations for agents looking to get an edge from technology is Listing Concierge where we have united the power of tech with world-class marketing services. Through Listing Concierge agents get a differentiator to help them win listings, prove value to their clients and turn one listing into three. This product produces marketing campaigns sellers love and buyers notice. Listings involved with the program close with a 2.6% higher commission rate, and that’s not the only way agents are benefiting. On average, sellers whose agents use Listing Concierge benefit as well, with a 1% higher sales price.
Read more: Top agents technology picks
We are obsessed with boosting productivity and products like BrandSrv and Social Ad Engine which help agents to automate their marketing while easily and stylishly promoting themselves and their listings. CBx + Moxi Present makes it simple to give stunning multimedia presentations to new clients, and agents that used the tool increased their presentation creations by 46%. Through integrating data from our CBx Buyer Locator tool into CBx + Moxi Present, we’ve created a proprietary tool that no other brokerage can offer. The result? Coldwell Banker Realty-affiliated agents who use CBx + Moxi Present have a 100% higher average sales volume than those who don’t.
Read more: Ingenuity meets excellence
Having a firm grasp on inventory is a huge strength in today’s market which is one of the reasons agents at Coldwell Banker are seeing the value in our Exclusive Look product which allows the network to promote listings before they go live on the market. Agents and teams who used Exclusive Look saw a 23% increase in GCI year-over-year.
One skill every agent must possess, especially today, is leveraging their book of business efficiently and effectively. Through the power of our Prospect Square product, we arm our agents with a productivity boost by helping them to stay in touch with their contacts through an automated and customizable e-marketing center. Agents and teams who used Prospect Square experienced a 15% increase in production.
Size, scale, and experience that matters
Coldwell Banker is the only real estate brand with the experience, size, and scale to provide technology that produces results. It’s no wonder that agent satisfaction skyrockets when their brand provides tech that doesn’t just win accolades but wins listings, according to Coldwell Banker’s 2020 Agent Priorities Report. We’ve continued to thrive for 115 years because we always put agents first – and give them opportunities and technology to succeed.
To find out more about how Coldwell Banker can help your business, visit www.coldwellbanker.com/careers