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Inman News: MoxiWorks blasts Compass for agent productivity claims
CLICK HERE TO READ THE FULL ARTICLE. From Inman News: MoxiWorks CEO claims Compass agents become 16% less productive when they move to the company.
MoxiWorks, an open real estate tech platform funded by two of the top three regional brands in the country, took a sharp jab at Compass this week, claiming its agents report a 16-percent decline in productivity shortly after moving to the New York City-based national brokerage.
The charge comes on the heels of a June CNBC interview with Robert Reffkin, in which the Compass CEO made several claims that drew ire from many in the real estate industry, including a bold statement that agents at the tech-forward brokerage net a 24.9-percent boost in transactions in their first year.
“We’re the only company that is empowering agents,” Reffkin said during the interview. “Our only customer is the agent.”
The remark drew the suspicion of MoxieWorks Chief Executive York Baur, who promptly dug into the first six months of Compass’ agent productivity.
MoxiWork’s data scientist, according to a spokesperson for the company, took data from all listings sold on or after Jan. 1, 2016. The analysis only included agents who stayed with Compass at least six months and had “substantial” transaction records before or during their Compass tenure, but the company did not elaborate on what it considered “substantial.” The same six-month period was used year-over-year to adjust for seasonal market shifts.
20 Questions: Get to Know Your Account Manager
20 Questions with Katie Shibale, Account Manager at MoxiWorks
Katie Shibale is on the front lines of MoxiWorks, always working hard to delight clients, making sure they are well taken care of from all angles: training, materials, integration… the list goes on! Being an Account Manager is a tough job, and we’re thankful Katie and her awesome teammates are here to do it.
We thought it’d be fun to sit down with Katie and get to know her just a little bit better. If you’re reading this and happen to be one of our clients, there’s a good chance you’ve experienced Katie’s brilliant work ethic, communication, and determination to deliver the best to your brokerage.
Without further ado, here’s 20 questions with Katie:
1. How long have you been at MoxiWorks?
1 year this month!
2. Best and worst thing about living in the Seattle area?
The traffic, of course, is the worst.
The views are by far the best. Between the mountains, the water, and the trees, it is breathtaking here.
3. What has been your favorite achievement so far at MoxiWorks?
There are two in particular.
The first, is creating and implementing a training process for incoming Account Managers. I took experiences from my career and was able to create a manual that made the transition to being an Account Manager at MoxiWorks more seamless. In doing so, I was able to watch a fellow Account Manager go through that and become a kickass AM quickly.
The second, is completing my first official onboarding with a well-known brokerage in the industry. I created a successful launch and relationship with them, and that’s a great feeling.
4. What’s your philosophy in life?
Do what you love, love what you do.
5. What would you eat for your last meal?
Really good authentic Mexican food (and some whiskey).
6. What’s your favorite thing about MoxiWorks?
The culture, honestly. Looking at how we all work together… and I love the fact that we are a name versus a number (like you tend to be in big companies). Each department actually works together versus everyone just working on their own path.
7. What’s the best part about working with your clients?
There are so many, so I’ll try to keep it short. First, building strong, trusting relationships that allow us to truly partner with one another. I love when they have that “ah-ha” moment once they truly find the value in what we do here. That’s the moment they begin truly promoting the products, helping us (MoxiWorks) further innovate, and agents become more productive. Finally, when I get to meet the agents in person. Watching them get excited about the different tools and how easy they are to use is rewarding.
8. NFL or MLS?
That’s a mean question, but NFL had my heart first!
9. Do you consider yourself an introvert or an extrovert?
Introvert – or maybe the one in-between (ambivert). I think I come off as an introvert, but when you get to know me you can’t shut me up.
10. What keeps you at MoxiWorks?
My team for sure. I love the collaboration between us. I know this may sound corny, but we’re like a family. We’re constantly joking around, supporting one another, and really challenging each other to become better (all around people) each day.
11. Cats or dogs?
Definitely, dogs!
12. What’s your favorite part of the day?
The evening because I get to spend time with my son.
13. What was your first job?
I was a Nike sales associate.
14. What interested you about MoxiWorks in the first place?
I was originally in the mobile apps industry, so getting into the software industry sounded interesting. After I talked to Kylah (Director of Integrations and Partnerships at Moxi), I realized the culture was exactly what I was looking for. Ultimately, I knew this was going to really stretch me, challenge me, and allow me to grow in all areas.
15. What do you do when you’re not working?
I’m on the sidelines at my son’s football, soccer, or basketball games cheering him on.
16. Did you choose this career path, or did it choose you?
It definitely chose me. I started in the education field, that’s what my degree is in. I had a friend who worked at a mobile app company and had an opportunity to work for them too, but as a remote employee. It worked great since I could work from home as a mom. From there, I got into software. I never expected to be here, but grateful that others saw my potential and took a chance on me.
17. What does your ideal Saturday look like?
Start out with a cup of coffee for sure, and then either watch my son play sports (or play sports myself). And if my son is at his dad’s, then hanging out with girlfriends with a nice bottle of wine and a good movie.
18. How would you describe your communication style?
I’m kind of an over communicator and can be assertive, especially if I’m confident in what I am saying. I prefer going up to someone and verbally talking things through, as it is really important in understanding exactly what’s happening to help avoid any confusion.
19. What stands out to you about real estate technology since you’ve joined the industry?
Since I’m newer to the real estate industry, I’d say understanding how technology has increased at such a rapid pace. It’s also fascinating how a lot of real estate agents embrace it, but there are way more who wish it never came to real estate. Being able to create something really simple and professional is essential to technology adoption.
20. What is your biggest challenge right now?
I would say that each brokerage/each client that I work with has different needs, especially based on the market they are in. Trying to create a product or tool that really satisfies each of their needs is challenging and then trying to find a workaround that they’re pleased with has its own challenges as well.
Thanks, Katie for letting us ask you these questions! But more importantly, thank you for contributing to Moxi and our amazing culture! #ItTakesMoxi
How to Create Content That Makes You Stand Out
By Jessie Trapp, Marketing Coordinator
The secrets out – content marketing works. So well in fact, that virtually everyone seems to have hopped on the content marketing train in some way, shape, or form, meaning the amount of content floating around the online universe is exploding at rates that are tough to keep up with. For instance, within the minute that you spent clicking on the link to this blog and reading the first sentence alone, 350,000 tweets were sent. By the end of today, 95 million new pictures and videos will be posted on Instagram. By the end of this month, 79.7 million new WordPress blog posts will be published. Have I scared you away from ever practicing content marketing? No? Good.
Not to worry, the copious amounts of content out there doesn’t mean that you shouldn’t create content as part of your marketing strategy. What it does mean is that you have to create better content than your competitors, as well as everyone else competing for your audience’s attention. It’s a big task, as making a statement with content marketing isn’t as easy as simply buying a fancy car or showcasing a new hairdo. Read ahead for some quick tips on how to make the most of it!
Keep it relevant. No blog posts, pictures, or adorable puppy videos (yes, even puppy videos) will be effective in creating your desired ROI unless they relevant to the audience you are trying to reach. If you haven’t already, take the time to formulate clear personas of your target audience. What are they interested in? What are their demographics? What kinds of information might they find useful? Find the topic sweet spots that get people engaged and use them to focus your content.
Visuals are key. You want to catch people’s eyes, so keep things visual. To break out some stats here, articles containing images have an average of 94% more views than articles without images. High quality media is key for strong content creation, so be sure to invest in the resources you need to create it. Videos, images, and charts are all strong performers. Keep in mind that 60% of people will watch a video prior to reading an article if it’s available, so better position them front and center to get people hooked and invested in your content.
Make it a conversation. Engaging with your customers is practically marketing 101. They want to get involved, and encouraging them to do so will only help you become a better agent and a much more effective marketer. Incorporating “ask the audience” style posts will make them more likely to comment and engage with you directly. Creating custom hashtags, polls, and hosting contests are great for engagement as well. Here is a list of even more ideas to keep the two-way conversations going strong.
Straight to the point. Don’t you just hate it when you read an entire article, only to find that it fails to actually contain the kind of information you were looking for in the first place? While creative titles can be fun, make sure that they are informative enough that the reader can feel confident that diving into your post will be worth their time. This can also help with your SEO (Search Engine Optimization) efforts which, by the way, are definitely worth brushing up on.
Quality over quantity. Similar to the idea of keeping content relevant, keeping your content quality high is a must when it comes to its effectiveness. Instead of publishing content just for the sake of publishing content, ensure that you are creating content that is meaningful and purposeful, and at a pace that people can keep up with. The ultimate goal is to increase conversion rates, don’t forget it.
Get the timing right. To put it simply – there’s a reason we don’t see popsicle commercials in the winter. Timing plays a key role for every business, as you want your content to always fit your client’s current needs as best as possible. Instead of simply guessing when the time is right to reach out to clients with certain kinds of content, utilize data and insights to get it right.
Make it scannable. The reality of today’s mobile word is that we tend to get the bulk of our information while on the go. This means that it’s important to make content scannable, so readers can quickly get to the information they are looking for. Breaking up your content using lists, bullets, and subheadings will help guide the reader through your content with ease and ensure a positive experience that will keep them coming back.
Knowing how to craft your content will help your audience become further invested in you and make them more likely to convert into customers. Instead of focusing on the amount of content you produce, focus on incorporating aspects like these to make your content the shiny penny that can’t be missed!
Carrot Cake and Inclusivity at Work
By Ringo Nishioka, SPHR – SCP, VP of Operations at MoxiWorks
Today, one of our senior developers brought in a large carrot cake for the entire company. The reason? To mark the 25th anniversary of his immigration to the United States. As the HR guy here at MoxiWorks, I love this for a couple of reasons:
- He is a success story. A hard-working developer and family man, he is making a living in one of the hottest tech markets here in Seattle.
- He brought in cake to share with his colleagues, co-workers, and friends. I find this to be next-level employee engagement. If he didn’t like the company, employees, or the work, he wouldn’t have brought in such a treat for over 70 people.
I am often approached to speak about diversity and inclusivity at work. Just last month I addressed a Fortune 100 company on the subject. As an executive, I understand why a company benefits from hiring diversely. As a minority, I have experienced what it is like to be the only minority in the room in my personal and professional life. I don’t know everything about diversity, but I do feel like I have relevant perspective when it comes to hiring people and creating an inclusive workplace.
Like most technology companies, we appear under-represented when it comes to diversity. However, when compared with other tech giants founded in Seattle, we are more diverse in most categories. Even so, I do receive flak about it here at MoxiWorks and visually, I get it.
We recently hired a VP and I heard that employees were disappointed when they learned it wasn’t a woman. Truth be told, we interviewed both men and women, but in the end hired the best person for the role, who happened to be a white male. The newly-hired VP even heard from employees that if we were serious about diversity, we would have hired a woman of diversity. Ugh.
Here at MoxiWorks, we don’t chase diversity and inclusion. We appreciate it, we embrace it, but we don’t chase it. What I mean is we don’t hire diversely to fill quotas or meet numbers. As a minority myself, I don’t want to be hired just because I filled a quota. I don’t want anyone thinking, “Ring got this job because the company and the executive team needed a minority.” I want to know I landed this job because I was the most qualified. More importantly, I want everyone to recognize they hired the best person for the position.
I was proud of our CEO, York Baur, when he stood in front of the company and said the same thing. “We are going to hire the best person for the role. We are not going to hire diversity for the sake of diversity. Help us hire the right person for the role by referring us the best candidates.” (For reference: We rely on employee referrals and offer a small gesture of thanks when we hire from their networks.)
Here are the reasons I loved the carrot cake gesture that our Senior Developer, Konstantin Kifa, shared with the company:
I didn’t know that Konstantin was an immigrant.
I am a big believer that what a person says or does can convey as much as what he does not say or do.
Konstantin doesn’t make a big deal of being a diverse employee and has never approached me about diversity or inclusion issues in the workplace. He does his job very well and his nationality, gender, and religion don’t impact his work. His life experiences affect his performance, of course, but he doesn’t bring issues to the workplace; instead, he is known for his intellectual horsepower and work ethic. (Note: His email to the company didn’t mention what country he immigrated from!)
I believe that MoxiWorks is organically creating a diverse and inclusive place to work. It isn’t contrived, and HR isn’t practicing “diversity by the numbers.” When employees like their workplace, they bring their families to visit and encourage friends to apply. When they don’t, their families won’t set foot in the building and they don’t recommend the company as a good place to work.
I like to think that because diversity isn’t an issue at MoxiWorks, our employees are comfortable bringing their accomplishments into the workplace.
Thank you, Konstantin, for getting your message across without even mentioning it. And thank you to everyone at Moxi for creating an inclusive place to work.
reeazily Partners with MoxiWorks, Joining their Extensive Open Platform Network
SEATTLE, September 18, 2018 – reeazily, a real estate back-office and accounting solution, has recently partnered with MoxiWorks, a fast-growing real estate technology company. reeazily joins over 40 other best-in-class brokerage solutions that live on the MoxiWorks open platform, known as the Moxi Cloud.
reeazily is a cloud-based solution that makes transaction accounting and agent billing easy. Through its intuitive interface and strategic integrations, the technology eliminates duplicate entry and streamlines processing deals.“There was immediate synergy with MoxiWorks, as they are passionate about delivering quality solutions for brokerages. Connecting Moxi Cloud’s innovative data platform to reeazily’s automated workflow engine will provide mutual clients an efficient and modern back office,” said co-founder, Casey Reagan.
In 2005, reeazily developed a SaaS solution for real estate franchise membership management, billing, and reporting, which serviced a network of 160 offices. In 2016 they launched broker.EZ, a full brokerage back office solution built on the same platform. The brokerage back office solution, broker.EZ™, integrates with QuickBooks Online for accounting and DocuSign for transaction management, which are already integrated with the Moxi Cloud.
“There are limited and outdated options for broker back office tools. MoxiWorks is excited to partner with reeazily, who understands the real estate industry needs and is committed to providing a great solution,” said Kylah Searing, Director of Moxi Cloud Partnerships and Integrations. reeazily will integrate and leverage data from the Moxi Cloud, streamlining day-to-day processes.
MoxiWorks plans on continuing to grow their open platform, adding more best-in-class technology solutions in the industry. With their 40+ partners, MoxiWorks also has their suite of tools they build in-house, including a CRM, interactive CMA tool, recruiting system, websites, intranet, and a series of marketing tools.
About reeazily
Created as a solution for RE/MAX Northern Illinois in 2005 to manage their franchisor operation, it supported a network of independent offices closing with as much as $380 million in commission. reeazily was spun off in 2018 to focus on delivering a better brokerage back office. reeazily is real estate workflow made EaZy. More information at reeazily.com.
About MoxiWorks
MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 110,000 agents and 60 brokerages nationwide. MoxiWorks’ integrated tools are centered on sphere methodology that drastically increases agents’ repeat and referral business by 40%, while lowering overall technology, training, and support costs for the brokerage. Named one of the 10 Best Cloud Solution Providers of 2018 by Industry Era, the open platform known as the Moxi Cloud has tools from more than 40 partners that plug and play to create unique brokerage solutions. MoxiWorks also powers the LeadingRE Cloud. More information at moxiworks.com.
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For more information on this topic and other press inquiries at MoxiWorks, please contact Tiana Baur at tiana@moxiworks.com. For more info on reeazily, please contact Casey Reagan at casey@reeazily.com.
Examining California’s New Solar Power Requirement and What it Means for Buyers
By Jessie Trapp, Marketing Coordinator
California has long been known as a trendsetter within the realm of green energy, but it recently had a “mic drop” moment that could set the tone for the future of renewable energy integration in homes.
That moment took place during May of 2018, when the Golden State became the first to pass a requirement for newly built homes to have solar panels on their roofs. The new standards are part of a major step towards California’s goal to make renewable energy the producer of a whopping 50% of its overall electricity by 2030, which was set in 2015.
Although the mandate issued by the California Energy Commission won’t go into effect until 2020, it’s likely at the top of minds of many who are considering buying a house in the not-so-distant future.
What does solar power currently look like in California? An article by The New York Times regarding the new requirement states that, as of the end of 2017, solar power makes up “almost 16 percent of the state’s electricity, and the industry employs more than 86,000 workers”. This makes California the undisputed leader in the realm of solar power energy in the US.
How will the requirement affect home prices? The addition of solar panels is expected to add $8,000 to $12,000 to the initial cost of participating homes. Not to worry – the California Energy Commission claims that “based on a 30-year mortgage, (it is estimated that) the standards will add about $40 to an average monthly payment, but save consumers $80 on monthly heating, cooling and lighting bills”. That being said, what may seem like a hefty chunk of change in the minds of your clients at first is really a massive money saver in the long-run.
How does this affect you, the agent? As renewable energy sources such as solar power slowly become the norm, they will likely become increasingly expected by homeowners. For now, you can utilize the coming changes as an opportunity to highlight existing solar power features in homes as being ahead of the game. If you want to emphasize the cost saving benefits they can provide to clients, visit a site like Project Sunroof to get accurate estimates of their solar power savings potential.
What about the other states? California may be the first to make groundbreaking moves when it comes to solar power, but it is unlikely to be the last. California will serve an experiment for other states to observe and study before they attempt to implement rules and requirements of their own towards the adoption of renewable energy.
Want to see how your state stacks up in the ranks of solar power integration ranks? Find the rankings here.
