{"id":3611,"date":"2022-10-27T13:48:25","date_gmt":"2022-10-27T13:48:25","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2022\/10\/27\/opinion-why-your-real-estate-agents-arent-adopting-your-technology\/"},"modified":"2025-03-13T02:47:45","modified_gmt":"2025-03-13T02:47:45","slug":"opinion-why-your-real-estate-agents-arent-adopting-your-technology","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2022\/10\/27\/opinion-why-your-real-estate-agents-arent-adopting-your-technology\/","title":{"rendered":"Opinion: Why your real estate agents aren&#8217;t adopting your technology"},"content":{"rendered":"\n<p>From tentative steps towards Excel spreadsheets from hard paper notes in the early 80s through the unveiling of first online marketing platforms like <strong>Trulia<\/strong>, <strong>Zillow<\/strong>, and <strong>Zoopla<\/strong> in the early 90s, the <a href=\"https:\/\/www.realtrends.com\/blog\/articles\/the-other-side-of-real-estate-technology-is-key-to-brokerage-success\/\">technology journey for real estate brokerages<\/a> has never been easy.<\/p>\n\n\n\n<p>And even more so for l<strong>arge brokerages that are even more reluctant to abandon old but still working legacy systems and put the stability of the status quo at stake<\/strong>.<\/p>\n\n\n\n<p>The recent study by <a href=\"https:\/\/assets.ey.com\/content\/dam\/ey-sites\/ey-com\/en_us\/topics\/real-estate-hospitality-and-construction\/ey-tech-adoption-in-commercial-real-estate.pdf\">EY<\/a> sheds light on the main technology adoption constraints and challenges that barrier innovation in real estate:<\/p>\n\n\n\n<p>Let\u2019s look into them one by one and come up with actionable solutions to knock these challenges down and, hopefully, dispel real estate leaders\u2019 uncertainty around the sensitive matter of technology.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-challenge-1-other-priorities-are-more-important\">Challenge #1: Other priorities are more important<\/h3>\n\n\n\n<p>I am not the right person to question real estate brokerages\u2019 business objectives and plans, but what I <em>can <\/em>do is educate them about the ultimate gains from technology adoption using the fact language.<\/p>\n\n\n\n<p>Studies from <a href=\"https:\/\/www2.deloitte.com\/mt\/en\/pages\/technology\/articles\/mt-salesforce-how-can-crm-help-your-business.html\">Deilotte<\/a> show that a Customer Relationship Management system can increase:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Lead conversion by up to +30%<\/li><li>Sales by up to +30%<\/li><li>Sales productivity by up to +30%<\/li><li>Customer Satisfaction by up to +35%<\/li><li>Faster decision-making by up to +38%<\/li><li>Revenue by up to +25%<\/li><\/ul>\n\n\n\n<p>These estimates are justified by the real-life transformation story of <a href=\"https:\/\/ascendix.com\/cases\/why-brokers-stop-using-excel-crm-story\/\">Pyramid Brokerage Cushman &amp; Wakefield<\/a> among a few whose leaders have stopped using Excel in favor of a modern CRM platform.<\/p>\n\n\n\n<p>Multiply this by the number of numerous other success stories from real estate brokers embracing technology, and you\u2019ll get a sufficient reason why it\u2019s now your turn to step in.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Challenge #2: New systems don\u2019t integrate easily<\/h3>\n\n\n\n<p>And they never will \u2014 unless you start by creating a transformation management office headed by a technology leader (a CTO) and populated by technology engineers with the deep expertise in real estate processes and integration methods.<\/p>\n\n\n\n<p>Once you have this department in place, start by:<\/p>\n\n\n\n<p><strong>Conducting a thorough audit of the old way of doing things<\/strong>. This step helps you pinpoint the gaps in your current systems\u2019 productivity and usability and define how those can be fixed with new software. Gathering your brokers\u2019 feedback is much valued at this stage.<\/p>\n\n\n\n<p><strong>Cleaning your data. <\/strong>Dropping your data the way it is into the new systems can spoil even the most meticulously-thought-out technology adoption plan. There are tools and methods to help clean up the data, from low-tech apps like Excel to more advanced data grooming tools like those within <strong>Microsoft Dynamics<\/strong> or <strong>Salesforce CRM<\/strong>.<\/p>\n\n\n\n<p><strong>Integrating legacy systems with new software. <\/strong>The most labor and cost-intensive step, this task should be orchestrated by skilled technicians who would be intimate with real estate processes enough to bridge different systems together and build workflows with multiple data touch points. If you don\u2019t have technical personnel in house, proceed to challenge #3 below.<\/p>\n\n\n\n<p><strong>Performing User Acceptance Testing (UAT)<\/strong>. Don\u2019t postpone this step until after you go live. Perform frequent system tests with actual business users until you\u2019re sure everything works fine.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Challenge #3: Lack in-house talent<\/h3>\n\n\n\n<p>While some large-scale brokerage firms might have technical departments, many reach out to third-party technology enablement firms \u2014 and there\u2019s nothing wrong with this. Instead, such symbiotic cooperation results in multiple gains for a real estate brokerage, like:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Access to the latest tech stack and skills<\/li><li>Reduced costs on talent training and onboarding<\/li><li>And even more so, ability to learn from your tech partner\u2019s previous experience with other brokerages who might have had similar challenges.<\/li><\/ul>\n\n\n\n<p><strong>The key criterion to watch out for when selecting a tech partner is whether they have real estate specific expertise.<\/strong> Otherwise, the benefits listed above easily evaporate.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Challenge #4: Existing culture is not open to change<\/h3>\n\n\n\n<p><em>\u201cIt\u2019s people, not technology, that limits the growth of proptech ideas,\u201d<\/em> said a Hong Kong fund manager.<\/p>\n\n\n\n<p>As the leader of a technology enablement firm helping real estate firms adopt technologies, I, like nobody else, can justify how important it is to win your staff members\u2019 trust to the new systems and their output. <\/p>\n\n\n\n<p>To do so, I usually recommend my clients to have an actionable change management plan in place <em>prior <\/em>to the actual technology implementation. It should involve at least these three steps:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Tell your brokers and agents about how the upcoming changes will improve the company\u2019s daily activities.<\/li><li>Educate your teams. Simple \u201cend-user training\u201d sessions are not enough. To proactively communicate and promote the benefits of your new system, a well-documented onboarding is needed.<\/li><li>You may also appoint a change manager who will oversee can facilitate personnel buy-in and ultimately enhance value.<\/li><\/ul>\n\n\n\n<p>The  last thing to remember when innovating your brokerage operational processes is that <strong>technology adoption is a journey, not a sprint<\/strong>. Nothing will come quickly, and this is absolutely normal. But once you\u2019re past these adoption challenges, new systems and architectures are set to bring efficiency and revenue growth for years to come.<\/p>\n\n\n\n<p><em>Wes Snow is co-founder and managing partner of\u00a0<strong>Ascendix Technologies<\/strong>\u00a0with 25 years of CRM consulting experience<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are many challenges to technology adoption by agents at a real estate brokerage. Here are some possible solutions.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[2923],"class_list":["post-3611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Opinion: Why your real estate agents aren&#039;t adopting your technology - RealTrends - Blog<\/title>\n<meta name=\"description\" content=\"There are many challenges to technology adoption by agents at a real estate brokerage. 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