Contact management. Marketing automations. Future planning. Since there are myriad solutions available to agents today, it can feel overwhelming to choose a tech stack that works with your specific needs.
During RISMedia's webinar—"How to Turn Your Technology into More Commissions"—panelists Nick Bailey, president of RE/MAX, LLC; and Verl Workman, CEO and founder of Workman Success Systems, discussed the importance of leveraging tech tools in order to become more efficient and profitable.
The webinar was moderated by Cleve Gaddis, speaker and master coach for Workman Success Systems, and sponsored by McKissock Learning.
“I have been a real estate agent for 20 years and I’ve spent a lot of money on technology,” said Gaddis. “Admittedly, in many cases, it has been absolutely positively a waste.”
Many real estate professionals get caught up with looking for that shiny object, that one lead generation tool that can solve all of their problems. However, it’s not that easy, and mastering a set of real estate tech tools is what’s necessary.
Here are two topics that were discussed at length during the webinar that are key for any agent or broker to understand in order to turn their technology into more commissions:
Two Types of Investment
In real estate, there are two major types of investments that team leaders make: technology and human resources. If you’re successful in finding a balance of the two within your business, you’ll be able to create leverage in, not only your business, but your life.
“I always say that it’s not technology that’s going to replace agents, it’s agents that use technology that are going to replace agents that don’t,” said Workman.
If you invest time into learning technology and then apply it, you’re able to do more with less.
“If you have technology you don’t need as many humans to handle a task, because the technology is doing what many people could do, so you don’t need as many people on your payroll,” said Workman.
This is the amount that’s spent collectively by real estate agents in the U.S. on an annual basis on marketing. $15 billion on marketing and leads is too much, according to Bailey, because real estate professionals are inefficient at using tech to get to the right people that are transaction-ready.
“Tech is not going to replace an agent, but an agent that doesn’t adopt the right tech will be replaced,” said Bailey.
Agents don’t want a lead, they want a transaction-ready customer.
“Instead of spending our $15 billion on the 600 homeowners in my neighborhood,” said Bailey. “I should be using tech to find the 40 people who have buying or selling on their mind.”
Watch the full webinar below:
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