Lone Wolf Technologies recently announced the launch of Marketplace. Marketplace hosts a library of curated digital tools for real estate agents and brokerages to plug and play into their national transaction management member benefit, zipForm® Plus, or their local/state member benefit, TransactionDesk. Partners available today in Marketplace include:
Updater, for personalized moving concierge services
Earnnest, for safe and secure digital escrow deposits
REAL Trends spoke with Jason Cheverton, vice president of strategic channels at Lone Wolf to find out what makes this marketplace so unique.
Tracey Velt: Tell me a little bit about how the marketplace came about.
Jason Cheverton: We did one major acquisition back in 2017, which was Instanet, the owner of the TransactionDesk product. That was our foray into the transaction management space. Last year, we completed our acquisition of zipForm. After that acquisition, we stepped back looked at the coverage that we had. Lone Wolf now reaches 1.4 million agents across the continent, with 1.2 million of those unique users logging in every year.
So we had this substantial reach that we didn't have before, and we thought we were in a very unique position to really change the way agents transact in this business. We mapped out the entire transaction process, both from a buyer's journey and a seller's journey. We started talking to agents and with different brokers, "What are your biggest pain points? Where are the challenges?"
Tracey: How did you choose your partners?
Jason: Some of the companies that we chose are barely on the radar, but they all have one thing in common: They solve a real challenge. There was a problem that they rethought, and solved. They had great technology, great platforms, and they had really good teams. Our goal is not to just sign up as many technology platforms as possible.
Tracey: What makes this marketplace so unique?
Jason: We focused heavily on the integration piece,. Everyone has integrations. But nobody has embedded a digital earnest money deposit experience. Nobody's built a direct integration to title, which is we're releasing in about a week, We've got a complete two-way connection between us and the title industry by way of RamQuest.
We have a full marketplace division that does nothing but find great partners, build really good integrations, think about the pain points we want to solve, and we take on ambitious projects like title.
I think it's evident with what's going on the market that this marketplace is needed. It's exceptionally relevant right now given what's the [Pandemic] and the changes that we're seeing in the industry.