Delta Media Group released a white paper on Monday detailing the benefits of integrated technology solutions for brokers facing declining trading volumes.
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A new analysis released by Delta Media Group on Monday shows that the real estate industry must move away from the “Frankenstein” of technology and instead rely on the power of integrated solutions based on artificial intelligence.
The 28-page white paper, “Future-Proof Your Real Estate Brokerage,” points out that expensive third-party vendors and a “disjointed” technology stack are the main reasons why many integrated solutions for brokerages and agents fail.
Michael Minard | Image source: LinkedIn
“In an effort to simplify their lives, agents are burdened with standalone tools,” Delta Media Group CEO Michael Minard said in the report. Rankine’s clutter of disjointed applications has become a huge impediment to growth and productivity. These patchwork systems fail to deliver the streamlined experience modern real estate professionals crave.
“As the industry shifts to a reality of lower transaction volumes,” he adds, “this outdated marketing approach is quickly being replaced by a sleeker, more efficient, and more affordable competitor: the all-in-one marketing platform.”
Delta Media Group is an integrated solutions provider whose client base includes the Berkshire Hathaway Home Services and Coldwell Banker franchises as well as several leading independent brokerage firms.
The all-in-one solution provides brokers with enhanced data flow and accessibility, improved operational efficiency, enhanced customer experience and a holistic view of business processes, allowing brokers to quickly change their financial and growth strategies, the newspaper said.
Healthcare, retail, finance and travel are already benefiting from integrated solutions, with health record platform MyChart seeing a 15% increase in patient usage, Walmart’s online sales growing by 40%, and rapid adoption by banks and consumers Just proves it.
“A consistent theme across these industries is the movement toward streamlined processes,” the report reads. “Time and resources are valuable commodities, and any technology that helps reduce waste, streamline tasks, and improve operational efficiency is worth considering. ”
Delta says the number one thing holding back the real estate industry from fully embracing the integration trend is the myth that using multiple best-in-class solutions will automatically result in a best-in-class experience for agents. The pursuit of the latest and greatest tools causes brokerages to waste time and money, and exacerbates frustration among agents trying to adopt new systems.
“This approach has proven to be a costly and time-consuming exercise for any brokerage firm,” the report states. “This is because real estate firms invest significant resources in acquiring, maintaining and updating these individual technologies, Only to find that as new innovations emerge, they quickly become obsolete.”
“Like most professionals, agents value stability and familiarity in their workflows,” it added. “They are more likely to stick with the technology they know, even if it may not be cutting-edge, to avoid the disruption and time investment required to start over.”
The emergence of artificial intelligence makes adopting an all-in-one solution the best approach, as AI can manage daily tasks on the backend and create a more engaging experience for consumers on the frontend, the report said.
“By centralizing data from a variety of sources, such as property listings, customer interactions and market trends, an all-in-one platform can create rich information and insights,” the report states. “Using artificial intelligence and machine learning, brokers can analyze these data to identify patterns, predict trends and generate actionable recommendations.”
It added: “The future of residential real estate, augmented by artificial intelligence, presents a vision where precision, efficiency and insight drive the success and sustainability of the evolving real estate industry.”
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