Does Tech Increase Transaction Volume? Yes—And There’s Proof
The data is indisputable. Inside Real Estate’s kvCORE Platform is getting more business for real estate professionals across the board.
By Jesse Williams, RISMedia
Nearly six months ago, Ryan Rexroad—director of Digital Innovation for Wexford, Pennsylvania-based Berkshire Hathaway HomeServices The Preferred Realty—launched Inside Real Estate’s kvCORE Platform to the brokerage’s 2,500 agents after a promising test run with top performers.
“Our expectation was that there was going to be some sort of bump because of how cohesive the program is,” says Rexroad, but the stark difference in performance for those agents who used kvCORE regularly was incredibly striking.
“We saw a 30% difference between the number of closed units that these agents had versus the rest of the company's population,” he says.
This kind of unprecedented result—crystal clear, inclusive of a significant and diverse cohort, and far too large to be an anomaly—gave Rexroad a huge boost in confidence as he looked to build adoption of the platform. In an industry with so much noise and clutter in the tech space, Rexroad fully understands the challenge of finding tech that can offer value while authentically demonstrating that value to his agents.
A 30% increase in closed transactions isn’t the only piece of the puzzle. But that kind of datapoint made all the difference for Rexroad, serving as the foundation for motivating agents to invest their time and energy into getting to know the platform.
“One of the challenges with rolling out tech is some apprehensiveness to learn the software, because agents don't know if there's any benefit—how it's going to augment their business,” notes Rexroad.
Having a few success stories from the top-agent trial was a big help. Those high performers helped with the rollout alongside a dedicated team of tech and marketing advisors who “took the torch” from Inside Real Estate. Armed now with data showing a significant increase applicable to every agent at every level, Rexroad describes being able to delve deeper into all the facets of kvCORE, exploring all the ways the software can bolster their business.
“The marketing and tech advisors have been beating the drum and getting the enthusiasm out there with the agents,” says Rexroad. “And that's really helped increase our adoption of the platform.”
Connecting these tools directly to everyday real estate scenarios has also proved incredibly effective, according to Rexroad. Introducing an agent to various functions of kvCORE during the “normal part of everyday work” creates a stronger interest and an immediate connection to the practical power of a new program.
“Taking those use-case scenarios to the agents has helped increase our adoption of the platform,” Rexroad claims.
One specific and unique initiative Rexroad held was a contest involving the CMA portion of the platform—CORE Present—which sparked the creation and delivery of 17,000 presentations to clients. He credits the simplicity of the program for facilitating this incredible response, with agents appreciating how the quick investment of time into the program would pay off in the future.
“You simply type in the address, pick the comps from the menu that it gives you and then send it off in an email to the person you're making contact with,” says Rexroad. “It was a really great sphere of influence and past client promotion.”
At the highest level, Rexroad says the data is indisputable—kvCORE is getting more business for his agents. But focusing even more, he adds, has revealed just how quickly agents are realizing that it “makes their lives easier” in all the ways that tech is supposed to.
“The agents who are digging in and adopting kvCORE are noticing how the platform is augmenting their lives,” concludes Rexroad.
This is the type of data that technology companies dream about. These agents are more productive and their success is powered by kvCORE.
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