The real estate industry doesn’t require additional software

By skipashraful Updated October 18, 2023 Reviewed by skipashraful
Photo Credit: BiggerPockets

It may sound unusual for a software CEO to assert that the real estate industry doesn’t require more software.

But the truth is, I firmly believe it, as do many agents and brokers.

While we all closely monitor ongoing legal matters and ponder their implications, while we express frustration at market conditions and eagerly await a turnaround, there’s a pervasive issue that affects us daily. However, it’s a topic that no one wants to address.

Here’s the bottom line:

The real estate sector is inundated with software.

To determine the exact number of tools that agents and brokers use daily, we partnered with T3 Sixty and conducted a comprehensive study.

We expected it to be a substantial number.

After all, we’ve been in the industry since 1989, witnessing its various transformations, from the first online listings to the 2008 financial crisis, and the emergence of one trend after another.

Through thick and thin, we’ve provided software solutions to countless agents, brokers, franchises, MLSs, and associations. By working closely with these professionals, we’re intimately familiar with the challenges posed by an excessive reliance on software:

– Disconnected processes, data, and user experiences
– High ownership costs
– Reduced efficiency
– Limited technology adoption

However, we were astounded by the actual number.

Agents and brokers utilize a staggering 20 different tools daily.

Imagine attempting to accomplish anything while logging in 20 times. Most people would give up after the third “forgot your password?” prompt.

How did we reach this point?

Over the years, real estate technology evolved to address individual issues, resulting in a multitude of specialized products. However, these products often don’t work seamlessly together, compelling agents and brokers to cobble together their own solutions. This not only fails to solve the problem but also exacerbates the issues, driving the industry further away from the comprehensive and interconnected digital experience it truly needs.

In essence, real estate doesn’t require additional software; it requires enhanced software.

What the real estate industry needs is software that functions seamlessly, tailored to the specific requirements of agents, brokers, and consumers with ever-evolving expectations.

So, why haven’t we achieved this yet?

Consider a software product and its core components:

First, there’s the login.
Next, the user interface (UI) strives to create an intuitive user experience (UX), a challenging task given the intricacies of real estate processes.
Finally, there are vital services, from notifications to navigation, data management (properties to commissions), and security (identity to user permissions).

Each of these components must seamlessly integrate to create a comprehensive solution that caters to the user’s needs. And that’s just for one process. Imagine the necessity for a unified solution that seamlessly integrates these components across all real estate processes, from listing to lead management, signature capture, and commission tracking. While composed of numerous individual solutions, it must offer a single login, a unified workflow, and a centralized dataset that caters to the needs of brokers, agents, and clients. Developing such a comprehensive solution has proven to be incredibly challenging.

But it’s not an insurmountable task.

It’s already here.

The all-encompassing platform for real estate.

Since 2019, we have been diligently working to introduce a platform for real estate that encompasses every aspect of the industry.

This platform seamlessly connects the entire real estate experience, enabling agents and brokers to manage the entire process from start to finish effortlessly.

It also integrates smoothly with other solutions, allowing agents and brokers to run their businesses their way.

Built on a modern framework, this platform offers optimal performance, scalability, and security.

In essence, this platform empowers real estate professionals to achieve more, be more, and attain more without the need for an excessive number of individual tools.

It’s not just a platform; it’s the foundation.

Backed by decades of evolution and meticulous user research, Lone Wolf Technologies is proud to introduce the future of real estate technology. Our platform brings together all aspects and processes of the real estate experience, creating a one-of-a-kind hub based on a modern framework. This framework provides real estate professionals with the security, scalability, availability, and performance they require to deliver the same to their clients. Whether you are a seasoned professional, just starting out, or building the next real estate empire, Lone Wolf is here to support you throughout the entire journey.