Grow your Real Estate Business By Adopting Technology the Right Way
There seems to be a huge dilemma when it comes to the implementation of new technology and software. Resistance to change is a real thing and even causes employees stress. In fact, one major study from the Economic Intelligence Unit found that legacy systems and difficult approaches to innovation hold back many large companies. You read that correctly — outdated tech directly influences your company’s success.
Zipi partners with many real estate brokerages across the country and the initial thought of implementing new technology is overwhelming to most decision makers and administrative staff. But instead of diving in head first and springing new tech on your brokerage, you have to adopt new technology the right way. This includes preparing all members of your brokerage to truly see significant real estate brokerage growth. Follow this five-step checklist to successfully adopt new tech.
1. Make technology adoption part of the culture
In the COVID era, our industry has been disrupted at an extreme level. Imagine being forced into virtual home tours if your brokerage never saw the value in video marketing. Yikes — we wouldn’t want to be a part of that learning curve!
Your brokerage must have a culture of early adoption. This way, your team is better prepared to adopt processes and engage in the transition. Here are a few ways to begin building a culture of early adoption:
- Provide training and professional development regularly.
- Incentivize agents to seek out new solutions.
- Invest in digital tools (infrastructure, IT, etc.) that will make the transition to new tech successful.
- Communicate with your brokerage early in any new technology adoption. Stay away from anything “mandatory” — they need to feel a part of the team.
- Engage agents in the adoption process. Let them test out tech, survey them on individual needs, and find solutions that make their jobs easier.
2. There needs to be clear understanding of the improvement
You know the saying — don’t fix something that’s not broken. We’ve all heard it before, and it’s applicable to your brokerage as well. No one wants to switch up their process simply because something new is available. And this is one of the biggest mistakes that companies make because purchasing technology must solve a specific problem. Not only is it crucial to identify the support that your agents need but communicate its value.
3. Everyone needs training
Here’s a great analogy — ever attempted to navigate an Android as an iPhone user, or vise versa? In the moment, it feels like the most challenging you’ve ever done in your life. You once knew where everything was, this download went here, and this photo was saved in this way. It’s the same experience with real estate software and technology — except it impacts your bottom line.
In order to grow your real estate business, everyone needs training to feel confident in the tech. Our biggest piece of advice is to thoroughly vet potential companies on their training and support. Be fully aware of the training and onboarding process, hourly support, timeline, and access to support personnel before a big purchase.
4. Roll out new tech to early adopters first
Recognize that change is not easy, and allow time for everyone to adjust at their own pace. One way to get your brokerage onboard with the transition is to invite your top agents, and even those interested in the software, to be a part of the transition process. Bring them to meetings, trainings, onboardings, and other areas where they can be the first of your team to see and evaluate new software. Don’t underestimate the value that these agents bring to the entire transition.
5. Ongoing support is crucial
Support is twofold. We mean ongoing support from the company and your ongoing support as the broker or administrative staff. One training won’t be enough for your entire team to successfully transition to the new software. In order to grow your real estate business through technology adoption, there needs to be future trainings available, Q&A sessions and plenty of opportunities for support. As the administrative staff, you need to be patient and stay positive. Remember why you decided on this particular software because everyone around is going to need the pick-me-up during the transition.
Zipi is a back office and accounting solution that aims to make real estate simple for agents and their deals to commissions and billings. Request a demo to get in contact with one of our expert team members.