Tech companies focused on tools to help agents thrive in a slower market
CEOs of MoxiWorks and Curaytor discussed how tech can support agents and give them more time to do what they're best at.
- With an expected slowdown in sales, a back-to-basics approach and focus on efficiency will serve agents well.
- Mapping out new strategies to stand out in a crowded, contracting market also key.
When it comes to new technology, focusing on business fundamentals and coming up with a plan to adjust to this slower real estate market are on the minds of some real estate tech companies.
CEOs of MoxiWorks and Curaytor discussed their strategies on LinkedIn Live with Travis Saxton, executive vice president of technology at T3 Sixty, ahead of their presentations at an upcoming technology summit. (T3 Sixty founder Stefan Swanepoel also founded Real Estate News.)
Getting back to basics — by focusing on the problems real estate agents come across on a daily basis — is a priority, said MoxiWorks CEO York Baur. MoxiWorks is an open platform system offering front- and back-office products including a CRM and marketing and lead generation tools.
During a recent LinkedIn Live event, Baur said that instead of jumping on the latest new technology development, brokerages and their agents should make sure the tech will work for them and do what it's supposed to be good at.
"I don't think the goal of technology is to replace the human," Baur said.
He noted that technology is often most useful when it can improve the efficiency of formulaic tasks, freeing up agents to do what they excel at, such as giving a thoughtful property review.
"Now is not a time to chase shiny objects. Now is a great time to go back to basics," Baur said.
This approach is coming at a time when the industry is figuring out how to adapt to housing market changes triggered by rising interest rates slowing home sales.
Over the past couple of years, agents experienced one of hottest real estate markets in history, but now the industry has "had this sort of moment in the market where everyone feels like they are frozen," said Curaytor CEO Jimmy Mackin during another LinkedIn Live event. Curaytor is a real estate marketing company that uses technology tools to implement successful campaigns.
"What worked six months ago isn't going to work now," said Mackin, noting the record number of agents in the market who are now dealing with a much smaller pool of potential listings. He said agents will need ideas and tools that can help them stand out and thrive as they move forward in this new real estate landscape.