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Op/Ed

The mostly unbuilt future of agent technology: online client collaboration

Online client collaboration is one of the most innovation-starved sectors of the real estate technology industry, but that can change.

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real estate collaboration

Online agent-client collaboration, originating inside the MLS, has mostly been stalled since 1998. In that year, MLS systems started providing an area for clients to view agent-saved searches and suggested listings, and to provide listing ratings back to the agent. Since that time, some systems have added minor enhancements, such as built-in messaging and the capability for agents to be able to share documents with the client.

But mostly, it’s been the same story: buyers interacting with agents around listings. CRM software, outside the MLS, has emerged to help clients manage their client relationships. However, CRM has largely been unintegrated with MLS data, and certainly hasn’t been integrated with all the tools agents use every day inside the MLS. For the past few years, I’ve been advocating for technology providers to expand buy-side collaboration and to add something for the people writing the checks that drive everything – the sellers. Of course, these vendors are all customer driven – so it’s up to the brokers and agents to drive innovation.

Note from the Editor: this column was written several months back and was held for publication, which coincidentally is timed with a rising hype surrounding the topic.

Collaborating with buyers

When it comes to collaborating with buyers, agents certainly need to interact online as they do today around listings. But they also need a more robust search and search result content – otherwise it drives the client back to the advertising portals. We need content such as neighborhood info, school info, public records info, and Walkscore. We need enhancements such as neighborhood and lifestyle search. Relevant market trends and statistics for the client search areas (days on market, inventory, list to sell price ratios, etc.) would also be compelling content.

Messaging is also important. We need proper alerting options, including email, text-message, and phone — all key to help ensure agents provide timely response to questions. I’m all for the collaboration portal offering a way for agents to provide documents to their clients, but I think that these documents need to be more collaborative than they are in many systems today.

For example, financial worksheets need to be interactive and provide alerts in both agent and client directions when a new version is created by “cloning” an old version for editing. Open house visit planning, note-taking, and feedback should either be built in or deeply integrated. There’s so much more – this is just a starting point of how agents and buyers could be collaborating. And don’t forget that all of this needs to be mobile-device-friendly.

What do I look for when it comes to agent collaboration with sellers?

Obviously, I look for messaging, open house activity and feedback, seller-oriented market statistics and updates (i.e., new similar listings and price reductions), interactive and collaborative financial worksheets, and an agent activity log – the flip side of the buy-side functionality.

There could be a reverse prospecting tool with “what if” capability – allowing the agent and seller to explore what happens if improvements are made or the price is changed. There can be an interactive marketing plan and materials, including the location of the listing on advertising portals and metrics for advertising effectiveness. One thing I definitely would love to see is the provision of CMAs, AVMs, and associated financial worksheets that allow for easy change and new versions over time as the market and comps change over the life of the listing.

Sellers should also receive alerts as competitive properties come on the market. Again, everything the seller needs to know and all of the service the agent provides the seller needs to be accessible from ONE client collaboration portal.

For both buyer and seller collaboration portals, the site needs to be mobile friendly (of course!). Also, agents should be able to efficiently note in the system that they executed a specific task for a client. Then, later, the agent would be able to point to the created “timeline” and show the client all the work they were doing for them. This would help clients understand the value the agent provided and justify things like renewing a listing agreement and, of course, the commission.

As ex-NAR president Bill Chee once said to me, “The consumer is the lion coming over the hill.” By making our technology systems truly collaborative, agents can improve their service to clients and communicate the value they provide. Improving online client collaboration is something that every agent should be pushing for with his or her MLS or other technology providers.

Matt Cohen has been with Clareity Consulting for over 17 years, consulting for many of the real estate industry’s top Associations, MLSs, franchises, large brokerages and technology companies. Many clients look to Matt for help with system selection and negotiation. Technology providers look to Matt for assistance with product planning, software design, quality assurance, usability, and information security assessments. Matt has spoken at many industry events, has been published as an author in Stefan Swanepoel’s “Trends” report and many other publications, and has been honored by Inman News, being listed as one of the 100 Most Influential Real Estate Leaders.

Op/Ed

5 must-do’s if you want to come across as a great communicator

(EDITORIAL) When you communicate in business, you have to change your talking style to give infor without losing engagement. Here’s how.

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Being confident during a work presentation, using tips to communicate efficiently.

Mark Zuckerberg once said, “The thing that we are trying to do at Facebook (now known as Meta), is just helping people connect and communicate more efficiently.” One of my biggest pet peeves on social media is the post that goes on and on and on. I’d like to think that I communicate fairly well, but I do tend to verge into over-communication every so often. I’m not an expert, but I have learned – and continue to learn – a few things about talking and writing to other people.

1. Know Your Audience

At a board meeting of a local non-profit, I was explaining a repair project that we had to vote on. When I got finished talking about the quotes and the insurance claim and said that we will probably come out even, the acting president looked at me and said, “why didn’t you just tell us this to start out with?” I realized I had wasted about 10 minutes because I didn’t know the audience. Definitely a case of overcommunication. All he wanted was the bottom line, but I thought the board needed to know every detail. Chalk that one up to a lesson learned. When your listener’s eyes start to glaze over, you’re probably talking too much.

2. Be Intentional – AKA Don’t Go Down Rabbit Trails

When I’m with my friends, I love just letting the conversation take us down whatever path. In business, I want brevity. I’m kind of a TL;DR person. Even though I want to make sure that people have enough information, I just want the bottom line. When you’re communicating with a co-worker or boss, don’t let your message get hijacked by taking a fork in the road. You’ll lose your audience.

3. Avoid the Obvious

I hate it when people regurgitate information or tell me what I already know. Call it mansplaining or just being thorough, but it’s annoying on the listener’s side. Give information that serves your audience, not your ego.

4. Don’t Assume

I could write a dissertation on assumptions. We all know the saying, “when you assume, you make an ass out of u and me…” When you’re communicating, find a balance between stating the obvious and assuming your listener knows what you’re talking about. The simple question, “do you need more information” can be a place where you can find out what your listener needs. But I’ve also learned to avoid assuming someone’s emotions or attitude about what you’re saying. Read their face, but know that confusion and daydreaming can look similar.

5. Good Communication Improves Productivity

When you’re an effective communicator, it directly impacts your effectiveness in the workplace. You get more done because you’re not going back and forth answering and re-answering questions and providing information. There are times when you do need to provide lengthy emails or have detailed meetings. Knowing the difference keeps you from being boring and long-winded. Take a few seconds (or even minutes) before sending that message or talking to a colleague about a project. You’ll be a better communicator.

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Op/Ed

What life-lessons college taught me both in and out of the classroom

(EDITORIAL) College teaches you some things that you will (and won’t) find in a textbook but it sure comes at a hefty price.

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People meeting with laptops in a college classroom

I walk the fence when it comes to a college education. It works for some and maybe not so much for others. It’s the whole “well-rounded” education thing that bothers me: First there’s 12 years in elementary and high school learning things that, even if you never use the information, it’s important to know. I get that.

After a lifetime of education

But when you go into college why repeat the process all over again? Why not focus on a career track? Learn and do! Get into the trenches! Where the heck are/were the survival skills you need to make it in the real world? Instead you get two more years of general education requirements! Really? And that’s going to make me a better “xx?”

I chanced upon a great editorial that touches on these same questions. And it got me to thinking: A college degree makes for a perfect world and on paper it looks good. Everyone with a framed BA or two would rule the world and help consumer trust levels, but I don’t believe it would actually make for better X’s (fill in the space with the career of your choice).

The big picture

I had a moral sense of needing to graduate so my folks, bless ‘em, would have the satisfaction of seeing their kid accomplish something they never did, but in the bigger scheme of things what was the purpose of Astronomy 101? Geology? I wanted to learn how to make movies and write scripts and I couldn’t even take a class on Film Theory until my junior year? NASA we have a problem.

Lesson Number One: What I learned fast is that college is a business. If the business can make more money in four or five years instead of one or two, of course you want to drag it out and milk it for all it’s worth. What’s the rush on graduating? Relax! Kick your feet up! That was a problem back then and I still see it as a problem now.

Fear: An incredible motivator

Instead of feeling like I was in the comfort zone of the universit,y I felt like the clock was ticking. Those first two years taught me that I needed to get out of that environment. THAT much I learned! I didn’t know what was waiting for me on the outside but some internal clock kicked in and I went from 12 hours a semester to 20 or whatever the maximum was that you could take with the Dean’s permission.

Lesson Number Two: The unknown is scary. It keeps you up at night. Ties your stomach in a knot. It almost makes you do things you might not ordinarily do. I graduated in three and half years and not four or five like many of my friends because I was scared shitless. Without even realizing it, by wanting so badly to get out of school, I was learning things that would serve me well in life: Goal setting, time management and speaking before a group.

I made a short list: a) See the world. b) Get paid to write about what I saw. c) Don’t look back. I graduated on a Friday and walked into a recruiter’s office on a Monday. I should have done that a few years earlier, but it didn’t matter. Within six months I was in Europe.

The ensuing 20+ years serving all over the world is a story for another time. I wish I would have started that odyssey a few years earlier.

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Op/Ed

4 red-flags to see if you (or your boss) may be an ineffective leader

(EDITORIAL) Leadership is hard as is, there’s no need to make it harder on yourself. Avoid these bad-leader habits and you’ll be golden.

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good leader interrupting people coworkers humans

Being a leader can be tough

Whether you are heading a soccer team, a choir, or a team of young realtors, being a leader is tough. Even the best leaders have character flaws. Under pressure, these peccadilloes are often exacerbated. If you find yourself in a position of influence, your flaws may magnify into strategic disasters.

To prevent such scenarios, it is critical that we dissect our own behavior, not only for the sake of our professional careers, but also for our own conscience and sense of self-worth.

Tips for success

Use the following 4 red-flag-raising behaviors as a blueprint, making sure you refrain from (or rectify) these mistakes as you evolve into a better leader.

1. Wavering on tough calls

Bad leadership 101 is an indecisive leader. A pitiful half-panicked state of ‘I cannot make up my mind’ hesitation. Nothing frustrates a team more.

More poignantly, nothing destroys an employee’s respect in a leader quicker.

Decisions, especially the big ones, need a steadying, confident hand. Buying yourself time, by demanding more research from the team, or hiding behind the excuse of another round of “brainstorming” shall only delay the inevitable. Rise to the occasion; do not be dragged to it by your circumstances. Dignify a problem with a decision!

2. Inefficient communication

This problem is more nuanced than simply bad communication. It may mean three things: under-communication, obfuscation, or over-communication. Try to avoid each like the black plague.
Nothing makes a project stall quicker than an unclear path forward. Make time to explain things to the team, clearly and precisely. Lay down a path. After all, that is your job! No one can be a “leader whisperer” or thought interpreter.

A team should not have to second-guess the direction of an assignment.

Obfuscation stems from the leader’s own lack of direction. Do not call a meeting where there is nothing definitive to announce. What is the operational plan? How should it be implemented? Do not assume that a plan shall present itself during a meeting.

Then there’s the sin of over-explaining.

This is a behavior where the leader drones on and on, wasting vital time, in order to elicit tacit or verbal endorsement of his/her idea. This is the control-freak micro-manager. Efficient communication does not mean more time in the conference room. Efficient communication is more productive in less time.

3. Abusing power privileges

Leaders enjoy considerable leeway to enforce their decisions. However, it is easy to forget that this “power” exists not for the leader to bask in its glory, but to deploy as necessary for the team to operate more efficiently. The possibilities in which a leader can abuse power are countless, and varies wildly, but here are some of the usual suspects:

Humiliating an employee publicly: constructive criticism is an art, delivered with compassion. It requires restraint and strength. Weak leaders have “outbursts”, aspire to be feared by others, and work hard on creating an air of intimidation and un-approachability.

Breaking your own word: Leaders may also make casual promises to a client during a meeting, without owning up to the promise. The leader may then avoid to the agreed upon request entirely, or worse, hand it off to subordinates to deal with. Empty promises make for empty leaders.

Rewarding loyalty: Leaders often play favoritism by distributing assignments and workloads unevenly.

Feigning neutrality: This may seem contradictory to the previous point, but it is not. A leader should take clear sides on arguments (not people) put forward. Not committing to opposing views leaves everyone directionless and confused. There are good ideas, less good ideas, great ideas, and terrible ideas. Which one do you like? Whose is it? Point it out. Give direction and move forward.

Insubordination: Weak leaders often bad-mouth their bosses, behind their back, in order to win cookie points with the team. It shows a lack of dependability, trust, and character.

4. Evading feedback at all costs

If your team cannot express grievances, complaints, and concerns freely, your leadership is off the mark. The most likely cause: YOUR unwillingness to take responsibility for failure. Shifting blame to others for what has gone wrong, attributing harsh decisions (like letting someone go) to “the company” and not yourself, bemoaning lack of resources as an unfortunate scenario where your hands are tied— these are all ways to clamp down on criticism. Seeking revenge on, or appeasing your critics is worse.

If you do not like employees to ask you questions, you should reevaluate your own position immediately. Feedback is essential to growth. To dismiss them as “whining” is going to kill your effectiveness as a true leader. In times of true crisis, you will find it impossible to rally the troops to your cause.

Leader to the core

Keeping these common leadership flaws in mind shall help you become “self-aware,” your best guard against becoming a horrible boss. In the process, it will take you much further—it will inspire you to inspire others, the very essence of great leadership.

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