|
At
the end of last month I found myself in Redmond, Washington for what turned out
to be an amazing day. The first
event of note was the morning arrival of a 7.1 earthquake.
The second event was the opportunity to review the 2.0 version of Realty
Desktop, Microsoft’s new entry in the brokerage platform race.
The first event was noteworthy the second was historic. Don’t
get the impression that this column is promoting a particular brand of software,
that isn’t what this is all about. The
arrival of the new HomeAdvisor software is significant because there is now a
system that can support the new brokerage business model that we have been
discussing over the past year. There
is now a software product that gives life and function to the concepts of lead
management, enterprise relationship management, and transaction management.
It is available now, it works, it is affordable and it is very cool.
Of
course over the next year we can expect that other national players will come to
the stage with their products as well. Each
will offer a slightly different twist and each will sing the praises of how
their platform is better and more responsive than all others.
Some will be developed by .coms on a shoestring, others by companies that
have never developed a software platform and yet others by national entities
with long histories of achievement and success.
These
however are not the issues at hand. The
point of focus here is that from this point forward your marketplace will have
the advantage of these advanced technologies.
In each marketplace key companies will begin immediately to adopt these
systems and in doing so will begin to rapidly gain competitive and market
superiority with a wide range of new features. The
time for thinking about when you are going to build your new brokerage business
model is over. Now is the time to
prepare for your new platform. To
delay any longer is to defy all manner of risk management and investment
philosophy. In taking this step you must clear your company decks.
The purpose of this article is provide a checklist of tasks that must be
accomplished so that your company will be prepared to welcome its new technology
platform regardless of what it is called or who provides it.
Consider the following: Get
ready to deal with your in-house or vendored technology “expert.” We have created a new generation of ersatz experts.
For them no software will ever be perfect enough.
Like the staff wine expert who is asked to make a suggestion for the
company awards banquet all suggestions are too dry, to lively, or were made from
grapes that were raised on the wrong side of the mountain.
For these folks there will never be a perfect software solution for your
company. Politics
and tribal loyalties have no place in this decision making process.
In picking a system use the same common sense that has served you
throughout your business career. This
is your game to lose. Go with your
head not your heart. Understand
that the key concept here isn’t perfection it is experience.
Today’s software packages are not going to require a major investment
and the smart ones are not going to try to pin you into a long-term commitment.
The top programs will be browser based and will upgrade themselves with
minimal additional expense. Get on
board, get some experience, and a year from now you will be the in-house expert
on what works for you. Beware
of systems that try to create a link between the software and your revenues.
Pay the money; learn your lessons and triumph in your rewards.
For the time being keep profit sharing out of the picture.
Don’t
anticipate putting you entire company on the program from the beginning.
Use a phased implementation approach.
Minimize your risk by creating a select team of agents and support
personnel who are interested in success as opposed to tradition.
Do not deal with a software vendor who is not willing to support this
approach. There are enough risks in the real estate business today
without having to throw all your eggs in one basket. Start now to get ready for your new platform. Avoid
disappointment six months from now by beginning to capture client, transaction
and property data now. Keep it in
simple databases if you can or use cocktail napkins if you have no other choice.
The information you are losing today will be worth tens of thousands of
dollars by the end of the year. Design
a basic lead management program that you can automate with your new platform
program. Next
bring transaction management up on a select group of deals. Initiate
a simple long-term client relationship program. Begin
to set up your own cross sell platform with programs, products and services that
make sense to you right now. It
will grow as your horizons expand. For many these suggestions will require a leap of faith. None require a major investment in money but all require a major commitment to the future of your business. Do not miss this moment in history. It is the beginning of a profitable new day. Don’t sleep in tomorrow morning. |
