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Sign into your accountWant to See the Compass Tech Platform? Check Out This Virtual Event
January 23 2024
For years, the real estate industry has witnessed the growth of Compass, the largest real estate company in America. Compass' messaging has been heavy on touting their technology investments that benefit agents and their clients. Compass is offering an open webinar on January 30th, inviting anyone to join and take a peek behind the password wall to view the agent and consumer experience they have developed. Click here to register!
WAV Group published an article in September of last year about Compass AI. The focus of Compass AI is to improve productivity and the effectiveness of Compass agents so they can spend more time developing client relationships — resulting in higher satisfaction of agents and customers. For the most part, AI is being used to deliver a personal marketing assistant that supports the agent's client communications. We found the Compass AI implementation to be very good at listing descriptions, social media, biography, and marketing ideas.
Compass is also among the few large firms that has developed their technology, leveraging a data foundation of parcel records/address records. Most firms limit their property database to MLS-provided data. As we have seen from the results at popular online consumer search portals like Zillow, Realtor.com, Movoto, RE/MAX, Homes.com, Redfin, and soon, the Broker Public Portal – systems using property data that is augmented by the MLS records is the winning solution. Motley Fool did a pretty good job on their review of Compass in October of 2021.
If you are a broker, this webinar is a great opportunity learn about your competitor. If you are an MLS, this is a great opportunity to see how brokers are integrating MLS data. If you are a technology provider who sells to brokers, you can understand what you need to produce to allow your clients to succeed.
If nothing else, brokers should take a page out of Compass' strategy to use their tech platform to drive recruiting and brokerage acquisition strategies.
I hope to see you there.
To view the original article, visit the WAV Group blog.