PropTech Roundup #4: Poaching hot shot estate agents is a strategy

  • It looks like our objection to the latest Private Property / Caxton deal last year was unsuccessful. Our main objection relates to the creation of an ‘industry database’ and how this new company wants to control the flow of listing in and out to property portals through their SWITCH project. This can create a unhealthy situation that seeks to promote the interest of those who have shareholding in this new company, including collaboration by the 2 larges bond originators. To me, it simply looks like a last ditch effort to remain the ‘data keepers’. (SWITCH if very much like Entegral’s SYNC listing syndication product created years ago, but it is a standalone, politics-free product where agents retain full control of the data and where it goes (as apposed to some industry body).
  • Poaching hot-shot estate agents is a strategy. Agents are the most valuable asset to a real estate company and the good ones, are worth gold. Keeping good agents, is an investment but from what I can see, also a challenge, because everyone will head hunt them. To keep good agents, you need to perfect your leadership as business owner. Retrospectively look why agents leave and apply some small changes is your job. Rinse & repeat until you perfect it. It is much harder and takes more time to look for a great new agent, than keeping your current ones happy. Being a broker, you are very much in the recruitment business.
Source: https://www.moneyweb.co.za/archive/poaching-hotshot-estate-agents-2/

“The industry is in need of drastic change. We acknowledge this and are working hard to gain the respect and trust of our clients by changing the way the current model works.” — Marcel du Toit, Leadhome

mobile vs desktop on MyProperty Namibia

Creatures don’t like change. I guess this is why (fast food) franchises are so popular. You know what you’re getting. The same could be said for any other franchise if they stick to the rules. It is a winning recipe that is tweaked over time. Although not immune to (technology) disruption. The problem with franchise real estate models currently, is that most agents are appointed as independent contractors, which leaves a disconnect between what should be done (i.e. rules to be followed) and what the agent feels like doing. I guess this is why tech startups like Redfin follows the agent employee model — guarantee a consistent sales process, anywhere in the country.

  • RE/MAX finally disclosed their 3rd + 4th Quarter earnings. It unfortunately made quite a dent in November when they failed to announce it, looks like it is on the upswing though:

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Adriaan Grové

Adriaan Grové

I’m the CEO of www.entegral.net, I love working with my remote team to solve real estate problems. Questions everything.