WAV Group Shift in Real Estate Technology Webinar

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WAV Group Shift in Real Estate Technology Webinar

  1. 1. The Shift in Real Estate Technology Sponsored by: CoreLogic Facilitator: Victor Lund Co-found Partner, WAV Group
  2. 2. Agenda <ul><li>We will discuss three perspectives on the emerging new trend in real estate technology. </li></ul><ul><li>Mike Audet of the WAV Group will review the recent WAV Group whitepaper on “The Shift in Real Estate Technology”. </li></ul><ul><li>Harper Thorpe of CoreLogic will outline how they are crafting their broker solutions to accommodate the new technology paradigm. </li></ul><ul><li>Leading California Real Estate broker, Alan Scearce, will explain the business benefits of embracing the new strategy. </li></ul><ul><li>Q&A </li></ul>
  3. 3. Participants <ul><li>Mike Audet – Co-founder and Partner with WAV Group </li></ul><ul><li>Co-founder & Chairman - RE Technology </li></ul><ul><li>Harper Thorpe - VP Broker Services, CoreLogic </li></ul><ul><li>Alan Scearce – COO, Prudential California Realty </li></ul>
  4. 4. Why Are Things Shifting? <ul><li>Pressure in industry has changed </li></ul><ul><li>Rules are all different </li></ul><ul><li>Pressure is causing real pain, real problems </li></ul><ul><li>Technology has solved some problems </li></ul><ul><li>Technology has created new problems </li></ul><ul><li>Good technology today is about “connections” and “data” as much as “features” </li></ul><ul><li>Agents today need tools that match their world not big “brick and mortar </li></ul>
  5. 5. Key “Shift” Drivers <ul><li>Technology - the need for “Connections and Integration” </li></ul><ul><li>Data – we need to connect to much more “Data” today </li></ul><ul><li>The need to move beyond MLS limits </li></ul><ul><li>The need for “Control” </li></ul><ul><li>Usability - the need for “Ease of Use” </li></ul>
  6. 6. Agent Super Glue The glue will be technology not buildings Brick & Mortar Technology
  7. 7. Our Old Technology World <ul><li>MLS was the center of our universe </li></ul><ul><li>Data needs and integration needs were minimal </li></ul>MLS MLS Agent Web Tax Data Agent Productivity Tools Broker Office System Broker Web
  8. 8. The New Technology World <ul><li>Brokers will be at the center </li></ul><ul><li>Brokers will be the “data hub” </li></ul>MLS Marketing Tools Agent Web Tax Data Agent Productivity Tools Broker Office System Broker Web External Data Foreclosures REOs Lists Leads Marketing List Source
  9. 9. Agent Needs <ul><li>CRM tools </li></ul><ul><li>Prospect management </li></ul><ul><li>Access to additional market information, i.e. foreclosures, REOs </li></ul><ul><li>Drip marketing </li></ul><ul><li>Lead generation </li></ul><ul><li>Flyers, brochures </li></ul><ul><li>Marketing campaigns </li></ul><ul><li>CMAs </li></ul>
  10. 10. Broker Technical Needs MLS 2 MLS 1 MLS 3 Any Real Estate Firm <ul><li>Unique </li></ul><ul><li>Interface </li></ul><ul><li>Training </li></ul><ul><li>Forms </li></ul><ul><li>Data fields </li></ul><ul><li>Tax system </li></ul><ul><li>CMA </li></ul><ul><li>Statistics </li></ul><ul><li>Reports </li></ul><ul><li>Support </li></ul><ul><li>Unique </li></ul><ul><li>Interface </li></ul><ul><li>Training </li></ul><ul><li>Forms </li></ul><ul><li>Data fields </li></ul><ul><li>Tax system </li></ul><ul><li>CMA </li></ul><ul><li>Statistics </li></ul><ul><li>Reports </li></ul><ul><li>Support </li></ul><ul><li>Unique </li></ul><ul><li>Interface </li></ul><ul><li>Training </li></ul><ul><li>Forms </li></ul><ul><li>Data fields </li></ul><ul><li>Tax system </li></ul><ul><li>CMA </li></ul><ul><li>Statistics </li></ul><ul><li>Reports </li></ul><ul><li>Support </li></ul>Company Website <ul><li>Internal Systems/Tools </li></ul><ul><li>Accounting </li></ul><ul><li>Back office </li></ul><ul><li>CRM </li></ul><ul><li>Document Mgt </li></ul><ul><li>Transactions </li></ul><ul><li>Showing system </li></ul><ul><li>Ad management </li></ul><ul><li>Market stats </li></ul><ul><li>Social media </li></ul><ul><li>Marketing </li></ul><ul><li>Lead generation </li></ul><ul><li>Lead management </li></ul><ul><li>Agent sites </li></ul><ul><li>External Systems/Tools </li></ul><ul><li>Mortgage </li></ul><ul><li>Title </li></ul><ul><li>Foreclosure info </li></ul><ul><li>3 rd party advertisers </li></ul><ul><li>3 rd party sites </li></ul><ul><li>Franchise systems </li></ul><ul><li>International partners </li></ul><ul><li>Leads generation </li></ul>Large Real Estate Firm
  11. 11. It’s All About Data <ul><li>Not just MLS and tax data anymore </li></ul><ul><li>REOs </li></ul><ul><li>Foreclosure </li></ul><ul><li>Short sales </li></ul><ul><li>Marketing/sales lists </li></ul><ul><li>Leads </li></ul><ul><li>Sales trends </li></ul><ul><li>Valuations </li></ul><ul><li>Prospecting tools </li></ul><ul><li>Statistics </li></ul><ul><li>Demographics </li></ul><ul><li>Neighborhood </li></ul><ul><li>Lifestyle information </li></ul><ul><li>Rankings </li></ul>
  12. 12. Ideal Broker System <ul><li>MLS integration </li></ul><ul><li>Broker is the hub </li></ul><ul><li>Data flows freely </li></ul><ul><li>Single or few different interfaces </li></ul><ul><li>Control from Back Office to Web </li></ul><ul><li>Agent Super Glue </li></ul>Brokers MLS 2 Lead Mgt Marketing Tools Agent Web Tax Data Agent Productivity Tools Broker Company System Broker Web External Data Foreclosures REOs Lists Leads Marketing List Source Doc Mgt CRM Ad Mgt Social Media CMA ML S 3 Tax Data MLS 1 Tax Data
  13. 13. Prudential California <ul><li>5 MLSs </li></ul><ul><li>285 agents </li></ul><ul><li>Agent Achieve </li></ul><ul><li>Key Benefits </li></ul><ul><ul><li>Company wide contact management </li></ul></ul><ul><ul><li>Communications to multiple clients/prospects easily </li></ul></ul><ul><ul><li>Ease of education, brand company wide </li></ul></ul><ul><ul><li>Company created marketing tools </li></ul></ul><ul><ul><li>Recruiting and retention </li></ul></ul><ul><ul><li>Multiple MLSs with single interface internally </li></ul></ul>
  14. 14. Key Benefits <ul><li>Cloud based </li></ul><ul><li>Control of brand across entire company </li></ul><ul><li>A single interface to train and support agents on </li></ul><ul><li>Control over multiple MLSs when needed </li></ul><ul><li>Stronger lead generation and management </li></ul><ul><li>Single CRM/Contact management interface </li></ul><ul><li>Centralized marketing campaigns </li></ul><ul><li>Ability to create uniform lead generation, presentations, forms, CMAs, brochures company wide </li></ul><ul><li>Reduced data costs </li></ul><ul><li>Strong recruiting and agent retention tool </li></ul><ul><li>Agent Super Glue </li></ul>
  15. 15. Keys to Understand <ul><li>Products have to be EASY </li></ul><ul><li>Connections have to be seamless </li></ul><ul><li>Agents need data not just products </li></ul><ul><li>You have to Evangelize your solution </li></ul><ul><li>Number 1 – commit to technology upgrade </li></ul>
  16. 16. A Strategic Approach to Software The AgentAchieve Story By Harper Thorpe
  17. 17. Harper Thorpe <ul><li>VP Residential Real Estate Solutions, CoreLogic </li></ul><ul><li>30+ years as a Sales and Marketing Executive </li></ul><ul><li>Developed industry-leading value-based reseller programs at Hewlett-Packard </li></ul><ul><li>Joined Sonic Eagle (AgentAchieve) in 2004, which was acquired by First American/ CoreLogic in 2006 </li></ul>Harper Thorpe
  18. 18. Agents <ul><li>Real Estate Technology 1.0 </li></ul><ul><li>Multiple systems and passwords </li></ul><ul><li>Duplicate data entry </li></ul><ul><li>No ties to broker or company </li></ul><ul><li>Different tools for each MLS </li></ul>Before AgentAchieve - 2002 Leads & Contacts Marketing Tools MLS & Prop Data
  19. 19. Agents <ul><li>Real Estate Technology 2.0 </li></ul><ul><li>Single sign-on and intuitive user experience </li></ul><ul><li>Integrated systems meant less data entry frustration </li></ul><ul><li>Technology became pillar in recruit/retain strategy </li></ul><ul><li>Operable across multiple MLSs </li></ul>INTEGRATED TOOLS BROKER PROVIDED SOLUTION <ul><li>Real Estate Technology 1.0 </li></ul><ul><li>Multiple systems and passwords </li></ul><ul><li>Duplicate data entry </li></ul><ul><li>No ties to broker or company </li></ul><ul><li>Different tools for each MLS </li></ul>First to Market - 2003
  20. 20. Business Objectives - 2004 <ul><li>Broker Relevance: Brand support and countering the forces that disintermediate the Broker’s role (Yes, it was an issue then as it is now) </li></ul><ul><li>Agent Relevance: Viewed as expert by internet-savvy consumer (Remember when the internet was considered the enemy by many Realtors) </li></ul><ul><li>Adoption: “The 12:00 is still blinking on the VCR” (Less true of user base everyday, but still our design mantra) </li></ul><ul><li>Virtual Office: Fostering community among remote participants and enabling a mobile workforce (Already anticipating the evolving technologies) </li></ul>
  21. 21. Technical Requirements <ul><li>Agents must be compelled to use AgentAchieve </li></ul><ul><ul><ul><li>Intuitive, consistent user interface </li></ul></ul></ul><ul><ul><ul><li>Integrated / single sign-on solution </li></ul></ul></ul><ul><ul><ul><li>“ food and water” </li></ul></ul></ul><ul><ul><li>Broker must be able to configure AgentAchieve </li></ul></ul><ul><ul><ul><li>Match to Broker’s business practices </li></ul></ul></ul><ul><ul><ul><li>Permission-based access to functionality </li></ul></ul></ul><ul><li>Hierarchical and departmental deployment </li></ul><ul><ul><ul><li>Broker, Office, Regional and Agent websites </li></ul></ul></ul><ul><ul><ul><li>Company intranet, shared calendars and documents </li></ul></ul></ul>
  22. 22. AgentAchieve - 2005 <ul><li>Single sign-on = Delivered modularly but seamlessly integrated </li></ul>
  23. 23. Then and Now <ul><ul><li>Who Are Our Broker Customers </li></ul></ul><ul><ul><ul><li>Multifunctional organizations that can include important revenue-generating divisions or partnerships that provide ancillary services </li></ul></ul></ul><ul><ul><li>What Do They Need </li></ul></ul><ul><ul><ul><li>A data-rich, work-flow based application that creates unique opportunities for Brokers to identify, target and manage revenue opportunities </li></ul></ul></ul><ul><ul><li>How We Must Deliver </li></ul></ul><ul><ul><ul><li>Alignment with their sales, marketing, and business processes that doesn’t require them to adapt to a vendor’s products and services to realize the benefits </li></ul></ul></ul><ul><ul><li>How We Can Help </li></ul></ul><ul><ul><ul><li>Provide capabilities (including data) that “un-level” the playing field in favor of Brokers </li></ul></ul></ul>
  24. 24. The New Technology World <ul><li>Enhancing the Broker’s value proposition to both agents and consumers </li></ul><ul><li>Serving the Broker’s “remote” agent community </li></ul><ul><li>Eliminating traditional boundary conditions both technical and geographic </li></ul><ul><li>Giving our Brokers an unfair advantage through technology and data </li></ul>MLS Marketing Tools Agent Web Tax Data Agent Productivity Tools Broker Office System Broker Web External Data Foreclosures REOs Lists Leads Marketing List Source
  25. 25. Today’s Challenges <ul><li>Brokers need to differentiate themselves with agents and consumers </li></ul><ul><li>Brokers need nurture their agent community via unified agent experience </li></ul><ul><li>Brokers need to better manage expenses by targeting their sales and marketing activities </li></ul><ul><li>Brokers need to provide consumers recommendations beyond the generally available data </li></ul><ul><li>Brokers need to control service and brand everywhere including websites and social media interaction at all levels </li></ul>
  26. 26. AgentAchieve - 2011 AgentAchieve ListSource ProspectCheck Realist CoreScore ePropertyWatch REAS
  27. 27. <ul><li>AgentAchieve - Building on a solid foundation </li></ul><ul><li>Systems that generate leads (hand-raisers not click-throughs) </li></ul><ul><li>Systems that prompt agent actions that convert leads </li></ul><ul><li>Agents compete and success is rewarded </li></ul><ul><li>Smarter solutions through data integration </li></ul><ul><li>Systems that support alternative financial models </li></ul>The Future is Upon Us
  28. 28. Prudential California Realty
  29. 29. Alan Scearce <ul><li>Alan Scearce, Executive Vice President/Chief Operating Officer </li></ul><ul><li>Strong marketing background </li></ul><ul><li>Developer of one of first broker technology platforms </li></ul>Alan Scearce EVP/COO
  30. 30. Alan Scearce <ul><li>Implemented Agent Achieve - November 2009 </li></ul><ul><li>285 agents </li></ul><ul><li>5 Multiple Listing Services </li></ul>Alan Scearce EVP/COO
  31. 31. Key Needs <ul><li>Control </li></ul><ul><li>Contact management and CRM resource </li></ul><ul><li>Lead routing </li></ul><ul><li>Multiple MLS platform </li></ul><ul><li>Marketing tools </li></ul>Alan Scearce EVP/COO
  32. 32. Key Benefit <ul><li>Adoption – ease of use </li></ul><ul><li>Single sign on </li></ul><ul><li>Agents are in contact with customers and prospects </li></ul><ul><li>Distribution of company wide marketing materials </li></ul><ul><li>Consistent branding and compliance on agent websites </li></ul>Alan Scearce EVP/COO
  33. 33. Contact Information <ul><li>RE Technology </li></ul><ul><ul><li>Victor Lund – [email_address] 805-709-6696 </li></ul></ul><ul><li>WAV Group </li></ul><ul><ul><li>Mike Audet – [email_address] 716-839-4628 </li></ul></ul><ul><li>CoreLogic </li></ul><ul><ul><li>Harper Thorpe – [email_address] - 925-849-3750 Ext 101 </li></ul></ul>
  34. 34. The Shift in Real Estate Technology Sponsored by: CoreLogic Facilitator: Victor Lund Partner, WAV Group

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