Tech Bytes: News from Compass, UtahRealEstate.com, more
CubiCasa debuts photographer program; Recruiting Insight adds partners; Inside RE launches design center; eXp adds RateMyAgent; Sisu updates portal; more.
Editor's note: Technology is a driving force in real estate. From startups to established players, tech companies are constantly innovating, growing and forging partnerships. Here we highlight some of the latest news about the companies that help power the industry.
Compass integrates title & escrow into tech platform in SoCal
The real estate brokerage Compass recently merged title and escrow services into its system in Southern California, making the homebuying process more efficient on a single platform.
Integrating title and escrow into its system is a significant step forward, said Rory Golod, president of growth and communication for the company.
"Integration is the innovation. Using 12 logins to run your business is inefficient. Integration brings other services to our platform without repetitive data entry," Golod said in a news release.
Future plans include expanding the feature to other markets and integrating AI-chatbot technology into the all-in-one Compass platform.
In a recent earnings cal, CEO Robert Reffkin expressed enthusiasm for the end-to-end platform.
"We have taken a massive step toward digitizing the real estate transaction process," Reffkin said. "We are very excited by the early results and feedback we are receiving from agents."
CubiCasa launches Preferred Photographer Program
The real estate technology company CubiCasa recently launched its nationwide Preferred Photographer Program, designed to increase business referrals to participating real estate photographers.
The launch is part of CubiCasa's goal of ensuring home buyers can access a floor plan on every real estate listing in the U.S.
The new program is specifically designed for photographers and will provide access to cross-promotional support to the hundreds of thousands of real estate agents using CubiCasa through their multiple listing service. In exchange, the photographers will agree to provide floor plans.
In December 2022, CubiCasa launched its MLS Partnership Program, which has since grown to include 11 MLS organizations across the U.S. and Latin America.
Recruiting Insight becomes trusted provider for eXp, Lone Wolf
The consulting company Recruiting Insight recently announced it has become a trusted provider for the real estate brokerage eXP and the technology firm Lone Wolf.
The company offers recruiting, retention and consulting services for the real estate industry: ThirdPool, a subscription service for new agents; CoRecruit, a coaching solution for experienced agent growth; and the Hiring Marketplace for team leaders who want to grow with newly licensed associates.
The Recruiting Insight enterprise has served the real estate industry with various products for the past 18 years. Founded in 2005 as Tidemark, the firm was rebranded as ThirdPool Recruiting in 2015 and most recently added the Recruiting Insight brand to its portfolio of products.
UtahRealEstate.com unveils new statistics product
The MLS UtahRealEstate.com has launched a new product called RapidStats, now available to its nearly 20,000 members. The MLS has taken a number of steps to advance technology for its members in recent months.
The new product will give members access to a variety of new statistical reports that can be sent to clients on a scheduled timeline.
"RapidStats takes statistical analysis, reporting, and presentation to the next level, which will give our members the most modern tools to communicate about what the real estate market is doing from a macro-level down to a street-level," said Brad Bjelke, CEO of UtahRealEstate.com.
RapidStats is provided by Markt, a professional services company that brings leading back-office solutions to multiple listing services. RapidStats is also being used by Metro MLS (Wisconsin) and ARMLS (Arizona).
RateMyAgent partners with eXp
RateMyAgent, which aggregates an agent's reviews, has partnered with eXp as part of the brokerage's Solutions program.
It was one of nine new additions to eXp's program, which offers tools and services to its U.S. agents. eXp has more than 88,000 agents around the world.
"Inclusion in the eXp Solutions program is a stamp of approval from the leading agent-centric brand in the industry that also happens to be the world's fastest-growing brokerage," RateMyAgent CEO Michael Davey said. "As the search for a home has moved online, an agent's digital brand has become increasingly important."
RateMyAgent has over 250,000 U.S. agents on the platform with over 650,000 reviews seen by more than one million buyers and sellers each month. Earlier this year, it forged a partnership with Realtor.com to help agents get more visibility.
Inside Real Estate launches new design center
Inside Real Estate recently announced the rollout of the new and enhanced CORE Listing Machine & Design Center.
Connecting directly to the MLS, it pulls in property details and automatically creates a complete marketing campaign across all listing stages, according to a company news release.
New features include single property websites that are generated and automatically shared on social media pages with property photos, a mortgage calculator and different ways to engage potential buyers.
"So often the most effective marketing tasks are the most time-intensive, but with this new suite of capabilities, we're ensuring our clients can seize every marketing opportunity, at every stage of the listing cycle, automatically," said Joe Skousen, CEO of Inside Real Estate.
Sisu updates portal to reduce duplicate data entry
Sisu, which focuses on real estate workflow solutions, recently launched its Client Portal 2.0.
With this update, real estate teams can streamline their workflows and automate their processes even further, according to a company news release. Agents can now submit orders for essential services, such as mortgages, title orders, listing photos, home warranties and more, directly through the platform.
Client Portal 2.0 has mortgage and title vendors on the platform, putting all the parties involved in a real estate transaction in one place.
"We believe that this platform has the potential to revolutionize the way real estate transactions are conducted for generations to come, and we can't wait to see the impact it will have on our industry," said Brian Charlesworth, CEO of Sisu.
Leading RE adds Chime, Tongo to its solutions program
Leading Real Estate Companies of the World has added Chime and Tongo to its Solutions Group program of preferred business resources for its 550 real estate firms.
Chime offers a customer relations management system with an AI-driven application and automated social media marketing tools.
Tongo provides products that can help stabilize cash flow by using pending commissions like a line of credit. Agents can use these liquidity products as working capital, including investing in staging and marketing homes as well as bridging financial gaps between closings.