As Executive Vice President, MarketLinx®, Troutner manages the group's broker and agent technology operations. Products and services include the AgentAchieve™ Web-based software suite offering broker business management, agent productivity tools, lead management and MLS data aggregation; Lucero®
A 30-year veteran of the relocation industry, Troutner began his career with Transamerica Corporation's corporate relocation management subsidiary, where he gained extensive industry experience in sales, operations and management. He accepted the position of senior vice president with Coldwell Banker Relocation Services in 1985, and then was named executive vice president and chief operating officer in 1989. During his tenure with Coldwell Banker, Troutner worked closely with sister companies in the real estate brokerage, title, and mortgage industries, and chaired an executive committee to promote operational and technological coordination. In 1997, following the acquisition of Coldwell Banker by what is now Cendant, Troutner transitioned into a consulting role and assisted Cendant in its integration efforts following the acquisition of PHH Relocation.
Troutner has been an active participant in various industry trade groups, and has often been a featured speaker on industry-related issues. He has chaired or served on a number of Employee Relocation Council (ERC) committees, including the Industry Advisory Board, Law and Government Relations, and the Real Estate Practices Committee. He earned bachelor's degrees in political science and psychology from the
This is an interesting and fascinating time in our business. Pressure for change is coming from many directions. Consumers are increasingly more technologically savvy and are increasingly demanding a better, faster, and cheaper experience. Innovators are creating new business models and new products at an unprecedented pace.
We are all watching the regulators expecting changes and clarifications in the existing state and federal laws governing this business. While the real estate business largely remains a relationship business, new products and technologies could radically change the value proposition of real estate agents and brokers. Technology has given consumers access to unprecedented amounts of data and they are increasingly taking advantage of the opportunities to be better informed consumers. Technology also provides opportunities for process simplification and cost reduction through automated product ordering, processing and communications with the participants of a transaction.
Although major corporations can play an important role in facilitating change, the true drivers of change are the consumers. As I mentioned earlier, consumers are demanding a more streamlined and cost effective experience. I believe that companies like First American and its subsidiary MarketLinx®, who have the resources to invest in not only innovative but also integrated solutions, have an advantage in meeting these consumer demands. Having said that, there is still room for product and technological innovation, as well as new models in today’s environment.
Our industry is blessed with an abundance of innovative and creative talent. There are really too many to mention by name but there are probably 30 or so who would appear on almost everyone’s trendsetter list. Many of these individuals are facilitating exciting changes in areas such as data access, process and quality improvement, product innovation, alternative business models, and technology. Those who remain focused on responding to today’s customers changing demands will be tomorrow’s trendsetters.
All the research indicates that consumers want a trusted professional to assist them through the buying and selling process, so I believe personal relationships with real estate professionals will continue to be important to consumers. However, the nature of these relationships is changing. Consumers want increasingly richer information and they want it online. They also want tools that make it easy to access information. Further, consumers want a less expensive and more streamlined process so I think integrated products and technologies will be an important part of meeting the demands of consumers in the future.
I have always believed that if you take care of the customer virtually everything else in business takes care of itself. Associations play a critical role in educating members as to the needs of consumers, ensuring the professionalism of the members, and working with regulators to ensure that the interests of the parties are protected in a way that does not sacrifice the best interests of the consumer. Additionally, these associations play an increasingly important role in bringing products and integrated technologies to their members that meet the changing needs of consumers.
Once again, taking care to meet the needs of customers should be the primary focus. Simplifying the process and reducing costs is critical to long term success so brokers need to find ways to achieve these goals. This is a major challenge in today’s environment where pressures on commissions and commission splits with agents have eroded the broker’s profitability. Partnerships with service providers, integrated technological solutions, and alternative business models are all potentially part of the solution. As a relationship business brokers must also find ways to ensure that the quality of the service their firms are providing to consumers is meeting the needs of customers. While most brokers believe they are providing high quality service, very few actually take the time measure customer satisfaction.
Associations can assist brokers in several important areas. Educating members as to the needs of customers to ensure that members have the information needed to focus their business’s in high payoff areas. Associations must work to ensure that ethical standards and professional behavior promote the positive image of the industry. They also can assist members by using the association’s collective buying power to reduce the costs of products and services. Finally, associations can assist in providing valuable research on products, services and technologies that will facilitate the broker’s business objectives.
At First American and MarketLinx®, we are focused on providing integrated products and technologies to meet the needs of all of our customer channels. Our industry remains fragmented in terms of available solutions, and meeting customer needs for process simplification and cost reductions will require an integrated approach to the business. Products that can be bundled to reduce cycle time and cost are an important part of the solution. Additionally, technologies that work together to streamline the operations and promote the professionalism of the business entities is also critical.
In a prior life I work closely with GE as a service provider and saw first hand what the leadership of Jack Welch brought to the company and those that partnered with GE. His accomplishments will undoubtedly be viewed historically as one of the great business stories. His writings provide valuable insight into his philosophies for success.
I also believe strongly that an orientation toward quality can provide huge dividends toward improving productivity, customer satisfaction, employee/agent retention, and profitability. A commitment to quality requires leadership, discipline and systems but can provide create important differentiation in the marketplace. Tom Peters offers a good place to start learning about how important a quality initiative can be to an organization through his books.
At the risk of sounding repetitive my advice is to stay laser focused on the customer. As I said the rest will take care of itself.
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