Long and Foster

Brokers Partner On Technology

by Victor Lund on September 30, 2015

Long and Foster and Windermere are both brokerages that are family owned and operated. They are large firms and they struggle with build vs. buy whenever they consider a technology solution for their companies. Windermere supports 7000 agents across 300 offices. Long and Foster has over 200 offices supporting 11,000 agents. There are a number of technology solutions that each company builds and supports. Moxi Works, the technology company founded by the Jacobi family of Windermere, builds a plethora of core technology solutions used by Windermere. Moxi Works provides the Windermere broker website, co-branded agent websites, lead management, drip marketing, company intranet, and their keystone product, TouchCMA. TouchCMA is a listing presentation tool that Long and Foster licensed exclusively for their markets back in 2014. WAV Group is very excited to see these two companies own the technology company that serves them. This philosophy is component to broker ownership of Upstream, and broker control of the board for the Broker Public Portal. Both Windermere and Long and Foster have significantly increased their closing rates on listing presentations with Moxi Works. We have written about this before. WAV Group confidently believes that brokers build better technology solutions for real estate agents than technology firms that have never sold a house. Together, Windermere and Long and Foster have nearly 20,000 agents on the Moxi Works system. The only CMA tool that is close to their equal is CloudCMA. However, CloudCMA is usually offered through the MLS, meaning that the possibility of more than one agent showing up to a potential seller meeting with the same listing presentation is highly likely. Windermere and Long and Foster never want their agents to be pitching their services using the same tools as a competitor. Differentiation is what defines brands. The CMA is the cornerstone of the sales presentation to a buyer or a seller. Sales presentations demand uniqueness. In a larger sense, I would expect this trend to continue. Although it takes a bit of technical acumen to understand this, the foundational architecture of real estate software is changing. Today, most products used in real estate are built the old way. The application has a database associated with it. The new architecture is similar to Apps that are on your smart phone, or Salesforce.com. In the new architecture, the database is separate from the application, and normally in the cloud. Applications no longer need to […]

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The two valves that constitute the heart of consulting are benchmarking and case studies. Benchmarking is measuring an industry norm. Case studies focus on telling the story of new strategies deployed by pioneers for products or tactics. Both provide organizations with insights that sharpen their aim or expand their aspiration. A great example of a benchmark is WAV Group’s report that 4 in 10 real estate professionals have not done a transaction in more than a year. Take a look at this study that surveyed data from MLSs across the nation. WAV Group recently compiled a CRM case study with two of America’s leading brokerages that are highly committed sales driven organizations. As dedicated sales driven organizations, the agent sales funnel and the agent presentation tools are regarded as the most important assets deployed by the firm. In both cases, Windermere and Long and Foster revealed the success found through changing client relationship management software providers. WAV Group invites you to download a complimentary copy of this whitepaper. In the case of Long and Foster, the company switched listing presentation/CMA providers. In doing so, they were able to level set the buyer and seller presentations across the entire salesforce. They gained design and information control. They also supported agents by delivering a solution that works on all devices – mobile and desktop. Today the company reports higher much higher utilization of broker supplied presentation tool and higher conversion rates. In the case of Windermere, they took on the goal of rolling out a CRM solution to all agents in their company and franchise. A unique feature of the CRM is that it is centered around a sales funnel and coaching by the office manager. They solved problematic adoption challenges by integrating with the company’s MS Exchange email, calendar, and contact solutions. As you will see, the sales impact in market share has been significant and led by greater sales penetration in the middle 60% of the agents. We hope that you will enjoy this study with our compliments. If you have any questions, feel free to reach out to us. If you are exploring a new strategy within your company that you would like us to look at for a case study, please let us know. By sharing information across the industry, we will keep the broker and agent as the centerpiece of real estate trades in America. See the […]

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