Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Software doesn’t solve problems. Strategy does.

06/19/2017

Download PDF

The real estate industry has an unhealthy obsession with software tools. If there’s an obstacle, we immediately try to find a software platform to fix it. If it’s new and shiny, even better.

Reading through comments on Facebook communities or by checking online forums, you’ll notice the trend. People ask, “What’s the best tool for __?” With a quick search, you’ll see questions like:

What’s the best lead generation software? What’s the best tool for holding my agents accountable? What’s the best tool to improve lead conversion rates?

If you’re asking these questions, you’re starting in the wrong direction. Software solutions don’t solve problems. They optimize processes. They improve workflows.

After reading responses to these questions, you’re led to believe you can pay X dollars per month for a real estate platform that will magically solve whatever ails you, whether it be related to lead follow-up, lead generation or another business need.

Software needs strategy

Software upgrades what you’re already doing; it doesn’t change it. Software solutions improve processes, speed up actions and organize work-related tasks. Essentially, software is an assistant. It helps. It increases. It augments. But it’s not a problem-solver.

For example, if you’re driving a ton of leads to your business, and your agents need help responding to all of them, then you might invest in a CRM platform to assist with communication.

But if you’re not holding your agents accountable or assigning system rules to respond to leads, buying a system such as BoomTown wouldn’t improve your lead follow-up. It’s a tool within a strategy.

Another example: Data shows that if you respond to leads within five minutes of registration, you have a higher chance of converting them. So, you create a new workflow for agents to do this. To help them, you decide to invest in a system that helps with communication and follow-up. This is the right mindset. You can see the tech investment started with a strategy: contacting a lead within five minutes. Then, you find a software tool to help.

It’s easy to find software to jump over obstacles, but it doesn’t address root problems. It’s why people get confused and even switch software providers when they don’t see the results they want (even though it’s working for others).

The problem is simple. Software doesn’t drive results. Strategy does.

Good strategy is the heart of solving business challenges

People love to take the easy road, the simple path — which is why so many don’t start with business strategy. Good strategy takes months of hard work and planning.

Let’s examine the problem: If you wanted to become a champion real estate agent, you might join a team to train you in best practices, start reading, practice selling houses, and test new ideas until one succeeds. Sharpening your skills and developing strategy takes time and effort.

Without a smart strategy to drive your actions and software decisions, you could be pointing your business in the wrong direction. For example, software won’t generate the success you want if you’re trying to generate more leads when you should be focusing on responding well to the leads you already have.

If you try nonetheless, you’ll blame the software provider for the mess without identifying the real cause of the problem: not having a strategy that drives tech decisions. That’s why a strategy-first approach is needed.

Don’t sink your business with tools. Invest in strategy.

Think about some of the biggest names in real estate, the teams known for their success. There’s no doubt they employ software to help facilitate their goals, but you’ll notice they always talk about the strategy they implement first.

We’ve seen it over and over again. It’s not the teams with the best tech that get results, it’s the teams with the best tech AND the best strategies.

The next time you’re setting goals, take a look at what software tools you currently use. Will they help you reach those goals? If the answer’s no, begin researching what technology will.

BoomTown is a real estate platform designed to help you grow your business. We do this by creating opportunities that turn into closings. Our focus is on measurable success, which is why we provide world-class CRM technology, lead generation, consumer-facing websites and success management. Visit BoomTown for more information.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • This week in RE: the NAR logo, Zillow’s iBuyer status and DocuSign’s IPO

    After being off the grid last week, re-entering the real estate fray was a whiplash-inducing event f...

  • Dear real estate agents: Here’s the difference between relationships and leads

    Something funny has been happening around the office, and maybe you’ve noticed it at your office a...

  • 5 old-fashioned prospecting strategies agents can bring into this century

    When new technologies emerge, there’s a tendency to discard everything that came before, even if i...

  • 4 ways to showcase your luxury listings online

    Luxury properties are hotter than ever in booming cities across the United States, and as billions o...

  • Why technology is not the end of the real estate agent

    “Tech” is the buzzword of the moment for real estate agents. For some, it brings about g...

  • How to explain deregulated utilities to homebuyers

    Homebuyers have a lot to think about when considering their budget — including the annual cost of ...

  • Here are the top 9 legal issues real estate brokers face

    Real estate transactions are both emotional and complex. So in the charged real estate environment, ...

  • Eli Manning sets new record with $3.55M Hoboken condo sale

    New York Giants quarterback Eli Manning is moving on … from his New Jersey condo that is. And whil...

  • KW’s ‘Kelle’ app competes with big RE tech companies

    Kelle is a voice-activated interface that allows Keller Williams agents to access databases, company...

  • Bank of America introduces digital mortgage product

    Bank of America released a new digital mortgage product last week, adding to the loan navigation too...

April 2018
Mon Tue Wed Thu Fri Sat Sun
« Mar    
 1
2345678
9101112131415
16171819202122
23242526272829
30  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...