Josh, former president and chief innovation officer at Keller Williams, discusses the role of technology in the brokerage landscape, navigating fixed costs, building core competencies, analyzing neighborhood data, real-time offer analysis, technology's impact on agent loyalty, and adding value in the brokerage industry.
Developing a long-term strategy with a roadmap is crucial for witnessing the outcomes of technological advancements over time.
Investing in technology and building a strong tech ecosystem is essential for staying competitive in the real estate industry.
Deep dives
The Importance of Long-Term Strategy and Planning
The speaker discusses the importance of long-term strategy and planning, highlighting the benefits of having a multi-year plan in place. By developing a roadmap and implementing it diligently, a company can witness the outcomes of their efforts over time. The speaker personally experienced this while working at Keller Williams, where they were able to have a five-year plan and see the direct consequences of their long-term strategy.
The Significance of Technology in Real Estate
The podcast delves into the role of technology in the real estate industry. Keller Williams aimed to challenge competitors like Compass by positioning themselves as a tech-first organization. The speaker acknowledges that technological advancements and having a strong tech ecosystem are crucial for staying competitive in the industry. By investing in technology and innovation, real estate companies can provide value to agents and create a distinct market presence.
Navigating the Challenges of Building a Tech Competency
The podcast explores the journey of building a core competency in technology within a real estate organization. The speaker discusses the challenges faced by companies as they transition from traditional models to a more technology-driven approach. They highlight the importance of having a clear plan, investing in infrastructure, and involving key stakeholders, like agents, in the decision-making process. Building a tech competency requires a shift in mindset, budgeting, and problem-solving approaches, and it is a continuous journey.
The Value and Influence of Data in Real Estate
The podcast emphasizes the significance of data in the real estate industry. Having access to accurate and comprehensive data allows companies like Keller Williams to offer personalized consumer experiences. KW's exclusive rights to neighborhood boundaries enabled them to provide valuable insights to agents and consumers. They leveraged this data to offer features like neighborhood-specific searches, trends, and personalized neighborhood updates for clients. The podcast highlights the advantage of utilizing data to enhance the consumer experience and solidify agent loyalty.
Josh (former president and chief innovation officer at Keller Williams) and I talk about the role of technology in a rapidly shifting brokerage landscape. Recorded Feb 9, 2023.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode