Saying it’s not easy being a profitable real estate brokerage in today’s market is akin to saying it’s tough running a marathon in Antarctica. Both are possible—but require balancing while moving on ice.
Brokers struggle with razor-thin profit margins. So, it’s not surprising that 86% of brokerage leaders say it’s vital that their technology partners continue to innovate so they can remain cutting-edge. This finding comes from our first Delta Real Estate Leadership Survey, with input from more than 100 top real estate brokerage leaders.
Brokerage leaders are tired of slow or botched launches and integrations…and they can’t afford system outages. They are exhausted by legacy software code delaying new feature additions.
In 2023, more than half predict that their profitability will decrease and forecast that their total transaction counts will be down from 2022. Reducing expenses is a top-five priority. That means the pressure is on tech providers now more than ever to deliver the goods—and maintain them.
As Watson Realty’s Walker Ragland said, the key is to have “an ongoing partner to help us achieve our technology goals” because that “helps us to be competitive and offer a unique value.”
Tech Is an evolutionary game
Over the last 30 years since Delta started, we have done revolutionary things. Delta launched the first online property search in 1994. In 2001, Delta created real estate’s first in-house private cloud. Delta also developed a real-time nationwide MLS data translation platform in 2019.
Over time, these revolutionary steps put Delta on an evolutionary path. Take DeltaNET, our all-in-one CRM-based digital marketing platform launched in 2014. The core platform’s functionality has remained the same, but the features added year after year have kept it cutting-edge.
As Coach REALTORS® Broker/Owner Whitney Finn-LaCosta points out, “It’s about the agent and what the agent needs to make their business better and better.”
Taking a revolutionary jump
We looked at the competitive landscape a few years ago and saw a new opportunity. We had already invested $40 million into creating and improving DeltaNET, but knew we needed to take a revolutionary jump.
By embracing emerging technology, such as automation, AI and machine learning, we created an entirely new DeltaNET—the just-launched DeltaNET 7.
Brokers want all-in-one tech stacks to cut costs. Automation solves their technology adoption problem. Agents can eliminate a slew of monthly subscription costs because every software tool is integrated, reducing duplicate tasks and saving them time. Moreover, machine learning ensures that clients receive only relevant content.
Shane Radcliff, head of Realty Exchange, points out that the all-in-one solution helps them “grow our brand and be able to offer the same tools…for a fraction of the cost.”
Too many real estate tech firms that are mired in legacy systems will not keep pace and cannot deliver the new tech brokers and agents need. Staying cutting-edge through continuous iterations ensures delivering what a brokerage needs today and will want six months from now.