In my last blog post, The Holy Grail of Real Estate: The All in One Data Platform, I discussed some of the shortcomings of the all-in-one data platforms. In this blog post I’m going to expand on that issue, and offer a solution.
It’s understandable why the siren call of the all-in-one platform is so seductive. The entire team works from one platform, so no duplicate data entry. Only one platform means less training for sales agents and staff. None of that matters if the platform doesn’t work well. The all-in-one platform is a Jack of all trades and a master of none.
Let’s take a look at the masters of real estate tech, and then we’ll get into the solution for the all-in-one dilemma.
CRM
Follow-up-Boss has mastered the real estate CRM, because they focus on being a great CRM. A simple, intuitive interface makes life easy for the sales agents. They’ve done an amazing job prioritizing leads for agents by using what they call ‘Smart Lists.’ This allows agents to spend their time following up rather than figuring out who to follow up with. And it makes lead coordination a breeze for staff.
Follow-up-Boss integrates with GMail and Office365. Emails with leads get auto populated to the lead record. Automated lead import, lead assignment, texting, emails, and much more, will cut down on your workload. Set up Action Plans by defining what needs to happen, and when, and let the follow up take care of itself. There’s even a dialer. Make calls through the platform and call logging is as simple as possible
IDX Website
Ylopo has mastered the IDX niche. Their aim is to be a complete digital marketing solution for real estate teams. Like Follow-up-Boss, they focus on their niche. They don’t even have a CRM, so you need to use a CRM they integrate with such as Follow-up-Boss.
Ylopo will set you up with an unbranded IDX website that integrates with the MLS. You can also set up a branded website that can be customized using Squarespace.
The lead generation is done through Facebook including an effective retargeting solution. The leads flow directly into your CRM. When a lead takes action within the IDX website, notifications are sent to your CRM. This will trigger your agents to reach out and make contact. They even have artificial intelligence based texting that reaches out to leads independently. These ‘behavioral texts’ are sent when a lead takes certain actions on your home search site.
Transaction Management
When it comes to transaction management, there are a couple of platforms that stand above the rest. Each of these platforms has a niche that it focuses on. Notice a pattern yet?
Dotloop is great for e-signatures and document management. If you need a platform to maintain a compliant document trail, Dotloop is a great option. The next time your brokerage gets audited doesn’t have to be a stressful situation.
SISU focuses more on data tracking and analytics. Conversion ratios, lead source ROI, KPI reports, and sales leaderboards and dashboards are just a few of the things SISU does. If you want to motivate your team, install a flat-screen TV in your office and put a leaderboard on display.
Both Dotloop and SISU have checklists and task management for transaction workflows, so there is some overlap. Smaller teams can likely get by with just one of these platforms. Midsize teams and above will want to add both of these platforms to their tech stack.
All-in-One Solution
Other than being focused on their niche, what do each of these platforms have in common? They each have an effective, robust API or Advanced Programming Interface. An API allows a platform to communicate with other platforms. If each of your platforms can communicate with each other, you essentially have one big platform.
Your sales team uses Follow-up-Boss. Your marketing team has Ylopo, and your transaction management staff uses Dotloop and/or SISU. Each are highly effective platforms that work together to produce optimal performance.
Daniel Poston helps real estate teams sell more homes and grow faster. He is an expert at helping teams increase sales conversion rates using effective, proven real estate data platforms.
If you’re interested in selling more homes with predictability then definitely reach out and request a free strategy session today.