E11: Switch Brokerages? What It Means For Technology

More and more of our clients are in the process of switching brokerages. And it makes sense! As the market slows down, it creates the perfect opportunity to look around. So what does this mean for tech? Should You Switch Brokerages for Better Tech? Frequently the "pitch" for a new brokerage is being "tech-enabled", and allow you to double your productivity. In practice, we don't see this as completely true. Between all deal submission platforms, it's probably +/-25%. So it can help, but it's not a game-changer. Every now and then, a platform will release a new feature that gives them a temporary edge- until all the other platforms catch up! So pick a brokerage based on flexibility so you can take advantage of these new features when they come up. How Tech Makes Your Switch Easier While your deal submission platform is tied to the brokerage (technically they provision the software and give agents access), all other tech doesn't have to be! Make an effort to own all other technology. This can include eSign, CRM, Calendar Booking, Online Meetings, email inbox, website, etc.. By doing so, the switch becomes much easier. The same concept applies to your data. In the deal submission platform, the data is technically owned by your brokerage. Make sure this data is on an external system (CRM, Excel, etc.) that you own- so you're not held hostage to your own data! Follow our hosts https://www.linkedin.com/in/tomhall8/ https://www.instagram.com/mortgage_tech_tom/ Subscribe to our newsletter https://mortgagetechtalks.substack.com/