The advent of information technology has all but made software and other technological tools a must for any company, brokerages included. That said, if you want your real estate business to be more efficient and productive, you have to invest in the right solutions.
The thing is that while software solutions can result in a lot of improvements, implementing them can be challenging. It’s also easy to make mistakes when buying software, which means wasting your brokerage’s time and money.
Below, we list down some of the most common mistakes brokerages make when buying software so you can avoid costly errors.
Ignoring Compatibility And Integration
It’s likely that your brokerage is already using a few apps or tools to help with work management. For example, your real estate agents might have Google apps on their phones to sync their emails and calendars. As such, the software you buy should ideally be compatible and can be integrated with most if not all of your existing tech tools.
Brokerkit is one good example of real estate software that can be easily integrated with other tools. Aside from Google and Office 365, you can also integrate Brokerkit with Terradatum, Zapier, Wizehire, and Wright Brothers, Inc. As a result, you’ll have a smoother, more efficient workflow. If you choose something that’s not compatible, your team may end up spending more time switching between software than using them.
Not Consulting the End Users
Before making any software purchases, you need to consult your employees. In particular, make sure to talk to all those who will be using the software. This way, you know exactly what they need and thus you can avoid purchasing software that will end up being unused.
Rushing the Implementation Without Training
Software engineers design their products to be easy to use so that even those who are less tech-savvy can quickly adapt. Nevertheless, you still need to allocate ample time for implementation. This is especially true if you’re purchasing multiple software solutions.
So don’t just dump everything into your employees’ laps. This will only lead to confusion and ineffective usage of the software. As much as possible, prepare for incremental implementation. Don’t eliminate the existing processes and tools immediately. Instead, have an “adjustment period” so that your people can get used to the new software and learn its features. This way, you can get the most out of your investment.
Another important thing when you purchase software tools is troubleshooting. There should be someone who can address problems just in case something goes wrong. You can get in touch with the software developers, obviously, but this might not be possible at all times (e.g., the need is urgent). As such, it’s crucial to have someone on your team who can fix basic problems in a jiffy.
Purchasing “Just Because”
As mentioned in the introduction, technological solutions are essentially a must for any size and type of business in the modern age. Various software can help your brokerage become more efficient, and your real estate agents work smarter and more productively. However, do note that technology is not always the solution.
Evaluate your business needs and your current processes. See if you can spot inconsistencies or superfluous items that can be fixed without the need to purchase new software. Is your brokerage’s website not generating enough traffic? This can be fixed by software, sure, but there are also simpler and more affordable marketing strategies you can implement to address this problem.
Purchasing at the Wrong Time
There is also the question of timing when it comes to buying software. Again, tech solutions are a must these days. However, there’s also a need to prioritize. You need to figure out if you truly need a particular app or tool right at this moment or if you can divert your funds to something more important.
In addition, don’t focus on just your present needs. Look at the long-term. The software you buy should be able to address not just the issues you have now but also help deal with potential problems in the future.
Adding Features You Don’t Need
It’s easy to think that in order to make the most of any software, you need to buy the most expensive package to access all features. However, this is not always true. You might think you need all the bells and whistles of an app or software, but then end up using them just once or twice.
To make the best choice, it’s a good idea to test a product first. Usually, software and apps have free demos and trial periods. Take advantage of these offers so you have an idea about everything you can do. You should also take note of your people’s needs and learn how to prioritize. Sometimes, your brokerage will benefit more from under-buying than over-buying software features.
Software solutions are considerable investments for any brokerage. Keep these tips in mind so you can make smarter purchases.
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