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New Lone Wolf product Insights gives brokers the data for ‘what’s next’

02/07/2020

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Have suggestions for products that you’d like to see reviewed by our real estate technology expert? Email Craig Rowe.

Lone Wolf Insights is a tool for monitoring business and agent performance.

Platforms: Browser Ideal for: Brokerages that are already in the Lone Wolf Technologies ecosystem; brokers seeking a new back-office solution.

Top selling points: Very efficient, one-screen UX Pulls in existing data from BrokerWolf Retention and coaching recommendations “At-A-Glance” data cards Top concerns

Team oversight not yet available, which could be a drawback to teams already using Lone Wolf products.

What you should know

Lone Wolf Insights is a very sharp, insightful tool for brokers to use to palpate the performance of their business.

It derives its value from its polished, single-scroll user experience and ease of ramp-up.

The software scrubs away the clinical patina from BrokerWolf’s numbers and accounting content, leaving behind only what’s most pertinent to critical business decisions.

 

I see this sleek bolt-on as the “what’s next” for brokers, a link between results and what to do with those results.

The software parses accounting information into three actionable categories: Sales Volume, Gross Commission Income and Company Dollar, meaning bottom-line revenue.

Logging into Insights reveals an organized panel display that will scroll users vertically through each section, with opportunities to dive under the surface of each category by agent or office.

 

Highlighted in the interface is a quick breakdown of agents under Retain and Coach headings.

On the surface, this is a sharp snapshot of who is providing the brokerage with the most and least value.

It also allows you to produce a report on each agent to use when discussing his or her status, whether it’s time to implement some retention tactics or sit them down for a hard conversation. It’s designed to encourage brokers to stay vigilant about who they should worry about leaving — or staying.

A nice touch in these reports is the ability to hide Company Dollar, as there’s rarely a reason to go down that rabbit hole in the context of agent production. This is another example of the laser-focus Insights has on helping brokers make data-backed business decisions.

 

To expound on my concern about teams, I’m surprised a company with the technological wherewithal of Lone Wolf held off on that feature at initial launch, deciding instead to roadmap it. Updates will show up about once a month, I was told.

But I’ll accept their counter-argument that Insights is first a tool for brokers to examine agent-by-agent numbers, and I’m always a fan of proptech companies who stick to the mission of their products. Suffice it to say I’m interested in how it will eventually handle Insights for teams.

The software doesn’t have a companion app, but it’s designed to cooperate fully within the mobile environment, which its browser experience clearly emulates, anyway.

It should be noted, too, that Insights is the tangible result of two different customer surveys conducted by Lone Wolf, which prodded its extensive user base for business priorities and challenges heading into the new decade.

While probably obvious, retention, coaching, sales volume, and of course, a higher company dollar, were the results.

You can’t fault a technology company for meeting an industry need, or for making the preservation of its traditional brokerage model a priority.

A reminder, Insights is a tethered to BrokerWolf.

You can’t go wrong with either.

Have a technology product you would like to discuss? Email Craig Rowe

Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.

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