An industry provider has created a free e-book for agents explaining the latest must-have - a Tech Stack.
Tech provider Rex has created the guide to explain the concept of the stack - the integration of multiple technologies into a single platform that can be operated without switching between activities.
"Having a successful tech stack is vital for all agencies, especially those suffering from growing pains, reduced productivity, lost market share, data security which is lacking or software which isn't fit for purpose" explains Anton Babkov, chief executive of Rex Software.
"Although some agents may have experienced ‘PropTech fatigue’ in recent years, having the right systems in place is vital for businesses to thrive in a very competitive market which is becoming increasingly tech-driven" he says.
According to Rex, the tools which form a tech stack fall into eight categories: relationship management, social media, lead generation, sales logistics, website development and management, data analytics, automation and office management.
The e-book provides an overview of some of the leading suppliers for each category and how agents can use them effectively including Mailchimp, Canva, DocuSign and Zapier, as well as a guide to Rex’s own products.
"The cost of getting a tech stack wrong can be high. As well as the price of the technology itself, a significant amount of money can be lost during the months it takes to onboard staff to a new product and then retraining them on a replacement if things don't work out" says Babkov.
"The best tech products work fine on their own, but the real value for agents comes from building a tech stack which incorporates a range which integrate to support every part of the business."
According to Rex, a successful tech stack has five key benefits: increased efficiency, fewer missed opportunities, improved relevance, happier staff and maximised asset value.
"Having a seamlessly integrated combination of the best tech tools in place can help an agency to reduce the pain points they have been experiencing for years. It also provides agents with increased opportunity to grow their business and focus on the personal side of property, building relationships with consumers" Babkov concludes.
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Agreed it's better to build your own stack and use best in class solutions customised around how your business works. Besides the data integration problems when using off-the-shelf is you have a 1 size fits all approach is everyone is forced to follow the same processes and way of working that the software dictates which means you have no real competitive advantage when it comes to efficiency. On the flip side agents aren't software companies so developing a tech-stack is unfeasible for most.
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