In Focus: Lone Wolf forges ahead, prepares to unveil new platform
The real estate software company believes innovation is critical in a down market, says “there is always a way through.”
Key points:
- Founded in 1989, Lone Wolf Technologies has seen its share of market cycles, but it hasn’t let downturns get in the way of progress.
- Most recently, the company has been working on a new product that aims to be an end-to-end transaction platform.
- VP of Product Aaron Kardell said that in a tough market, “it’s extremely important we keep pushing” to make the platform available to agents.
The slowdown in real estate has hit parts of the industry hard, with some companies cutting spending and initiatives as they ride out the downturn. But Lone Wolf believes this is a time to move forward, not hold back.
The real estate software company, which has nearly 700 employees in the Dallas and Toronto areas, represents one of the industry's bright spots.
Kyle Hunter, general manager of franchise at Lone Wolf Technologies, told Real Estate News it's especially important to push new technology into the market now.
"Our founder Lorne Wallace (who passed away in May) used to tell an interesting story about the 2008 crisis," Hunter said. "Before the crash, he'd get a decent number of brokers to come to his seminars on real estate back office and accounting. But after the crash, his seminars would be standing room only.
"I think about this a lot with our current market conditions. It shows that real estate will always have ups and downs and be at the mercy of external factors, but there is always a way through. What those brokers in 2008 realized is that the path forward starts by taking control of what you can control."
It's a perspective based on experience. Lone Wolf was founded in 1989, and since that time has been through several real estate cycles. Having weathered those market swings, Hunter said the company learned the importance of innovating in slow times as well as periods of growth.
Lone Wolf to unveil new platform next month
That mindset has pushed the company to continue working hard on its end-to-end real estate transaction platform — the holy grail for many industry tech companies.
Lone Wolf plans to reveal its unified platform at the T3 Sixty Technology Summit in October, where it will also demonstrate a new generation of products. Note: T3 Sixty and Real Estate News were both founded by Stefan Swanepoel.
The platform has been several years in the making, said Hunter.
"We're thrilled to finally show it off, what it looks like, how it works, who can connect to it and so on," Hunter said. "This has been a long time coming for our industry, with numerous strategic acquisitions and innovations that have gotten us to this point."
Aaron Kardell, vice president of product for Lone Wolf, said this type of tool is exactly what real estate professionals need in a challenging market.
"Our platform will improve real estate for agents and brokers, making it easier for them to take control of their business and their service to clients — so it's extremely important we keep pushing to get it in their hands as soon as possible," Kardell said.
A busy year for Lone Wolf
The October announcement would cap off what's already been a productive 2023 for the company. It recently teamed up with Realtor.com in creating Listing Toolkit, which is focused on helping agents win more listings through the search portal. Launched on Sept. 13, it's off to a good start, said Kardell.
"So far, we've seen great enthusiasm from agents about this integration, and I believe it'll be a big help to them right now," Kardell said.
The company also had 12 products featured in this year's Tech 200, which identifies the best-in-class products among real estate tech companies, and was called out by Travis Saxton, T3 Sixty's head of technology consulting, as one of the top five companies leading the way in tech.