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How to Leverage Your Database for More Leads
By Maddie Jostol
In today’s competitive market, everybody is thirsty for more leads. Lead generation is becoming increasingly challenging and expensive and it’s tough to know what lead quality you’re going to get. The truth is, a jackpot of leads might be right under your nose. Yes… you might have a goldmine and not even know it! Your sphere of influence could be chock-full of leads – both those who are thinking about buying or selling, and those who have friends who are thinking about buying or selling.
Always be growing that sphere.
As an agent, your sphere is your book of business moving forward. Those relationships will only become more valuable as lead generation gets more competitive. A strong sphere of influence will give you an instant leg-up against other agents because it’s a base of relationships that powers your business. When you meet people at PTA meetings, holiday parties, and community events who could be clients down the road, you’re growing your sphere, and in turn, your business.
Keep that database up-to-date.
As you do your farming, add those people to your database. Those connections are valuable, but only if you have a fighting chance of keeping in touch with them. That’s what your database is for. When the database of contacts in your CRM is up-to-date, you’re able to nurture those contacts as a lead source. Your CRM should guide your daily work routine. Who do I need to follow up with today? Where did I leave off with so-and-so? Use your CRM as a point of reference.
Stay in contact.
When you have a solid, growing sphere of influence organized into a database, you can nurture those contacts for sustainable business growth. The beautiful thing about having a well-organized database is that you can segment your database to stay in contact with certain people. Have a charity golf event you’d like to invite a handful of past clients to? Segment your database by golfers so you don’t miss a beat. Staying in contact with your sphere of influence will lead to an increase in repeat and referral business. These are the highest quality leads an agent can ask for, so don’t let them fall through the cracks. If you’re a Moxi Engage user, subscribe to Moxi Insights for consumer data that notifies you when someone in your database is likely to buy or sell.
Stay top-of-mind.
When it comes to your database, your goal is to be each contact’s go-to person when it comes to real estate. When their neighbor mentions they might take a job in another state: you know a great real estate agent. Or when their friend mentions they’re considering buying an investment property in the next year: you know the perfect person to help. The vast majority of people end up working with the agent who reached out to them first. Your goal: always be there first. If you’re present when they’re just toying with the idea of selling their home, there’s no doubt you’ll be top of mind when they’re actually ready to start the process. Lead generation happens by default when you’re top-of-mind for your sphere of influence.
Don’t discount the value of those already in your database. Rethink how you look at lead generation and start with the people you already have a relationship with. Instead of purchasing leads and attempting to win over strangers (sure, we all need to do some of that), start with your sphere and leverage your database.
My Proudest Moment: The Moxi Fund’s Humble Beginnings
By JoDee Aspin, Database Developer at Moxi Works
I started working for Moxi Works in 2012. At the time, the Moxi Fund had existed, but wasn’t being treated as the priority I felt it should. There was about $4,000 sitting in the fund, mostly from donations that staff made over the years. No one was overseeing the fund or guiding it along to a prosperous future. Fortunately, that soon changed.
Mark Carlson, VP of Software Engineering, knew I had interest in the Windermere Foundation, which has always been extremely visible to Moxi Works since our founding roots are in the Windermere Real Estate brokerage. Because of that, Mark asked if I wanted to take control of it and as you can imagine, I jumped at the opportunity! In fact, it’s one of the reasons I said yes to taking the job at Moxi.
The fact that people on staff had donated money that was just sitting in a pot and not getting to the people it was intended for, bothered me to no end. Under the Executive Director of the Windermere Foundation’s guidance, I formed a team and we began troubleshooting ways to generate more donations to the Moxi Fund.
Initially our team included Tom Harnett, Jillian Igarashi and Jeff DeMelle. We determined that we really had two main goals, first, to continually promote awareness about the Moxi Fund within the organization, and second to generate enough interest that the entire staff thought of new ways to fundraise and help in growing the pot. I think we were all surprised at how quickly this took hold. We started to generate more and more interest and thus our funds began to grow little by little. It really kicked off once our CEO, York Baur got behind it (whom at the time had just joined Moxi Works). From that point on, there was only up. In fact, the Moxi Fund has raised more than $80,000 for charities in our community.
The Moxi Fund is a win for our entire company, and one that makes me proud of each person that gives to it, whether through volunteering for the Moxi Fund team, donating funds, or participating in the activities around it. More than that, it makes me proud to work for a company that promotes and fosters programs that give back to the wider community. So many took ownership and it was so lovely to see and be a part of. Today, because of logistics, I am no longer there with the team, in fact there are many new people involved, but my heart is there and always will be. The growth of the Moxi Fund is my proudest moment at the company (one of many I might add). Can’t wait to see how the Moxi Fund continues to grow in the years to come!
Compass is Coming to Your Town
By Tiana Baur
To recap quite possibly the most significant announcement of 2017 for our industry, Softbank invested a whopping $450 million into the new, shiny tech brokerage: Compass. Emphasis on the brokerage, emphasis on that dollar amount since it’s the largest investment into real estate technology ever, from the world’s largest technology investment fund. They basically did a mic drop to cap off an already crazy real estate tech announcement year. Needless to say, our CEO had some words.
What now?
So, Compass is now valued at $2.2 billion. Casual pocket change, am I right? On a serious note though, they aren’t just planning and raising money, they are doing and achieving. That alone makes this all the scarier.
A few months ago, CEO Robert Reffkin announced a 2020 by 2020 plan. Which meant they are going to expand into 10 new markets in the U.S. by 2020, and grab 20 percent of the market share in the 20 largest U.S. cities. The cities they’re expanding to being Seattle, San Diego, Phoenix, Dallas, Austin, Houston, Atlanta, Charlotte, Philadelphia, and Chicago.
Only a couple exasperated brokerage breaths later, they announced they had ALREADY expanded to Chicago, rapidly growing from a team of 20 top tier agents they plucked from the competition. If that doesn’t make you want to vomit in your own shoes then I don’t know what will. This is real, and it’s terrifying for most brokerages out there.
How on earth do you compete with that?!
Chances are, you’re not going to get Softbank to invest millions upon millions into your brokerage. But that’s okay, because there is another way to survive and even become a stronger, more productive brokerage than you ever thought was possible.
The not-so-secret ingredient: an open platform. In fact, it’s not just an ingredient, it’s THE ingredient for brokerage success. Ever tried baking a cake without some type of flour? Pretty. Freaking. Awful. Think of an open platform as your brokerage’s flour. It provides the structure and strength, holding everything together, in one tasty package. You can add in nuts, chocolate chips, even peanut butter. The options are endless and it’s up to you to decide what is going to taste the best.
Take the Moxi Cloud open platform for example. We have over 40 tools and services – DocuSign, Imprev, Intuit, Buyside, Offrs, Flipt – to name a few. Our brokerage clients get to pick any and all they wish to, and all their data and tools and services are put together, working seamlessly with their roster, brokerage assets, CRM contacts, MLS data, and more.
Compass might be trying to make all their own software, but you don’t have to in order to provide your agents with the tools and services they’re craving. An open platform delivers higher flexibility, efficiency, and profitability to your brokerage and agents.
An open platform is the only way to future-proof your brokerage against the rapidly-evolving technology space. It’s the Compass killer. What are you waiting for? A Compass announcement in your neck of the woods?
The Moxi Fund Made Moves in 2017
The Moxi Fund is an integral part of what we do here at Moxi Works. Our staff contributes directly to it from every paycheck. Since 2014, the Moxi Fund has raised over $80,000 for local Seattle charities benefitting children and families in need.
The team here at Moxi that oversees the Moxi Fund, plans ingenious fundraisers and is responsible for the consistent growth and giving of the funds. Here’s a look at all the Moxi Fund was able to accomplish in 2017:
Pike Place Market Foundation
“Cut the Pie”
In May, several Moxians had the honor to attend the Pike Place Market Foundation’s “Cut the Pie” event! This event is held every year to distribute grant money—partly funded by the donations from Moxi employees—to deserving, impactful services in the market community. Our attendees were blown away by the depth of health care, housing, and nutritional services operate right next door to us, and all the recipients commented on how “now more than ever” these services are needed and how Pike Market Foundation is an invaluable resource to the needy.
Pike Place Giving Tree
The Pike Place Giving Tree is a favorite at Moxi Works. During a time when everyone is trying to budget for their own family’s vacations, feasts, and gifts, it’s even more important to not forget about those that need it more than we do around the holidays. We put up a tree in the office and hung tags for specific items a local family had asked for. Employees could grab a tag from the tree and come back with said item. We wrapped ‘em all up and delivered them to the folks at the Pike Place Market Foundation. They let us know that all these gifts went to a relocated family in Seattle to make them feel loved in their new home.
Community Service Day
Every year, all of Moxi Works closes its doors for an entire day to give back to the local community. In 2017, we volunteered at Ryther. Founded in 1885, Ryther is a nonprofit organization serving vulnerable children and their families. They serve children and youth who are struggling with mental illness, substance use, Autism, and/or trauma. Here’s a look at what we were able to accomplish as a Moxi team that day.
Moxi Races
Another way we like to raise money at Moxi Works is to race! And by race, we mean to an exciting destination like
Disney World or Washington D.C…basically the further it is, the better. We did two Moxi Races this year to encourage good health and raise money for the Moxi Fund. For each race, competitors contribute $25 to the Moxi Fund and logs their steps.
Race 1 stats: We had a grand total of 19,401,064.32 steps across all 5 teams that participated (9186.11 miles)
Race 2 stats: This race is currently still on. We are sitting at 14,229,135.36 steps across all 7 teams taking part this time around (6737.28 miles)
These races really are a win-win. We get to raise money for our beloved Moxi Fund, while at the same time doing something to better our health!
Pub Trivia
In 2017, we also did four pub trivia sessions. Because who doesn’t love trivia? Everyone who participates donates $5 to the Moxi Fund as entry to the competition. Every little bit helps!
Northwest Harvest
Moxi Works’ employees also donated 911 pounds of food to Northwest Harvest in 2017 – our biggest food donation yet!
Stay tuned for what the Moxi Fund is able to accomplish in 2018!
Key Aspects to Look for in a Brokerage Platform
By Maddie Jostol
Many technology companies are calling themselves a platform. It’s becoming a loosely used buzzword, but what makes a true platform is a technology that serves as the base for all of your technology solutions. It’s the hub of your company’s technology.
As a brokerage owner, what should you be looking for when considering a platform for your business? Below are a few of the key things you absolutely must consider when vetting these technologies.
Make sure it’s open
An open platform is quite different from a closed platform. What makes a platform “open” is an open API, which allows other technologies to plug into the platform, integrating and sharing data. Asking whether or not a platform is truly open is key to knowing what potential the technology has in integrating your business. A closed platform limits your ability to leverage data, and doesn’t help your agents run their business.
Find a reliable partner
When it comes to onboarding a platform for your brokerage, you’ll want to work with a provider who serves as a true technology partner. A platform is the technology backbone of your business, it isn’t just some add-on tool. Because of this, your platform provider should serve as a trusted advisor, guiding you to the strongest technology ecosystem that effectively runs your business.
The beauty of an open platform is that you can make it your own – our brokerage clients have varying technology ecosystems based on which integrated tool and service providers they’ve decided to provide to their brokerage. Work with people who can guide you through this process, selecting the best technology services for your business. This brings us to our next tip…
Own your data
Data is more powerful than you might think. What kind of data are we talking about? MLS data, consumer data, agent data, and more. All of it should live in your brokerage platform, where it’s accessible and useful. Data can power other tools, lend valuable insights, improve productivity, and more. It’s time for all brokerages to own their data.
The value of integration
Integration adds value to your business, smoothing operations and increasing productivity. Agents don’t have to switch back and forth between technologies, attempting to remember dozens of passwords. It also gets rid of manual data entry. When data is shared across your tools, including your MLS, it negates manual data entry and the inevitable errors that comes with it.
Selecting and onboarding an open platform for your business can feel complicated, but it’s vital to staying ahead in this competitive market. Your brokerage needs an integrated technology ecosystem that offers flexibility, connects your business, and helps you be more profitable.
To learn more about the Moxi Cloud open platform and what sets it apart, click here.
Integrating Tools & Services with Moxi Works
By Tiana Baur
2017 was a BIG year for us Moxians. We added heaps of amazing partners to our Moxi Cloud open platform that now has well over 30 different tools and services. We also hit over 100,000 agents this year that use these tools and services! Because we’re always looking to provide the best-in-class to our brokerages, we’re constantly on the lookout for new tools and services to add to the Moxi Cloud. Here’s a glance at the tools and services already in the Moxi Cloud:
Joining the Moxi Cloud Open Platform
If you’re a technology or service provider in real estate, how do you work with us? There are two ways to integrate with our Moxi Cloud open platform:
1. SSO
The single sign-on (SSO) integration allows partners to use Moxi Works to grant access to the partner applications. This allows you to avoid managing end-user accounts and to provide a more seamless integration between Moxi Works sites and partner tools.
2. API
The Moxi Works API allows partner developers to access Moxi Works data, product features, and functions to enhance the user experience in the partner application and streamline interactions between systems.
We’re proud of the ease of integration we’ve built and the partnerships that have allowed us to offer brokerages best-in-class tools. Here’s feedback from some of our amazing partners:
“The team at SnapNHD really enjoyed working with the Moxi Team and API. Their API is undoubtedly the most well documented API in the real estate industry enabling our team to integrate within a week. Among my favorite features is Moxi’s ability to turn on new brokerages at the flip of a switch.” – Will Caldwell, Founder, SnapNHD & Dizzle
“We’re thrilled to partner with MoxiWorks to create a great experience for our clients. We recently launched a powerful integration between Imprev and MoxiWorks for a few large brokerage customers. Through the integration, the MoxiWorks REST API exchanges data with the Imprev platform to sync agent, listing, and contact data real-time—making agents’ lives much simpler. The MoxiWorks team was awesome to work with throughout the entire development process; thanks to MoxiWorks’ agility and support, we were able to solve challenges quickly and deliver outstanding solutions to our clients.” – Paul Cooley, CTO, Imprev
If you’re still curious what it is like to work with us, watch this video of Melissa Kwan over at Spacio (also below) – we think it will illuminate what the partnership will look like!
Interested in joining the Moxi Cloud? Fill out the form at the bottom of this page and we’ll be in touch!
How to Automatically Track Your Mileage and Save Hundreds on Taxes
By Maddie Jostol
Taxes are a pain. Real estate agents face unique challenges as independent contractors because you’re running your own small business. This makes taxes an even bigger pain.
It’s really common for agents to miss out on deductions because the tax filing process is so time consuming and frustrating. Especially when you file on a quarterly basis, the accounting responsibilities of running your small business start to take over. Have you ever thought about how much savings you’re missing out on because you didn’t take full advantage of the deductions available to you?
A few of the many deductions to look out for:
– Mileage tracking
– Business-related technology subscription fees
– Meals and entertainment when you meet with clients
– Home office (or desk fees)
We’re going to focus on mileage tracking because that seems to be a common one for agents to miss out on. We understand why… it’s a huge annoyance to write down your mileage and then remember what that trip was for later on. We all end up with endless images of our car dashboard on our phone. That’s not exactly what you want to see as you’re scrolling through photos of your niece’s soccer game last weekend. When it comes time to file your taxes, it isn’t even worth trying to sift through pictures and records of trips you took for business. That means you’re missing out on some hefty deductions, though.
The good news? There’s a better way. We came across QuickBooks Self-Employed a few months back and realized it’s the perfect tool for busy agents. It’s an accounting tool built specifically for independent contractors, so it tracks your mileage for you so you don’t miss out on any deductions. Tracking your mileage and filing your taxes has never been easier… trust us.
When you have QuickBooks Self-Employed downloaded on your smartphone, it will track your trip every time you drive (yes, it knows when you’re in the car). Go into your app, scan your recent trips, and simply swipe left for business or right for personal. QuickBooks Self-Employed will categorize those expenses accordingly, making tax filing a piece of cake.
It also tracks and categorizes your expenses, making filing Schedule C deductions easy, you can also snap a photo and file away receipts, and see a snapshot of your business finances at any time.
Want to try out QuickBooks Self-Employed? Users are finding an average of $4,340 in tax savings per year. Since they’re a partner of ours, we’re offering you 50% off your first year. Click here for more details and to get set up!
You can also find out more about QuickBooks Self-Employed below:
How Advertise Your Listing Earns More Listings
By Maddie Jostol
Win more listings by marketing your current listing. What’s that mean? Your marketing efforts do more than just promote a given listing, they contribute to the long-term growth of your business. That may sound a little convoluted, so let’s break it down.
Win a listing, market that listing, impress your clients, grow your sphere, win more listings.
Facebook is the largest social media network, with a higher user count than the population of China. Using the network, you can quick reach tens of thousands of people, inexpensively. Now imagine showing your client that you put their listing in front of that audience. The truth is, ads boost client satisfaction, which increases repeat and referral business. Of course, advertising your listing will help to sell the home quickly, as it will be exposed to thousands of people. However, there’s more to it. Your marketing is no good if your client doesn’t know about it. Your clients want to see that you’re a digital-savvy agent who is going the extra mile to get their home sold.
Digital advertising can be time consuming and frustrating to navigate though. The complicated process was built for digital marketers, so it can be a huge burden for busy agents. We created Advertise Your Listing to make promoting your listings on Facebook a breeze. Agents can advertise a listing on Facebook in just five minutes, by following three easy steps, directly from their Moxi Works account. Sound easy? It is. You can easily up your marketing game, without dedicating extra time or investing in training.
Do you need to be a social media marketing expert? No. Do you need to have a Facebook business page? No. Do I need to connect it to my personal Facebook page? No. In addition, you get to select your own budget, target audience, and the duration of the campaign. Since it’s part of your Moxi Works account, your MLS data is integrated, which means when you go to start a new ad, you select your listing and all of the information and images auto-fill. Just swap out photos or adjust text as you see necessary.
When you use Advertise Your Listing, automated reports are sent directly to your clients (you can even change the settings to select how often you’d like them to receive reports). Your clients will see the effort you’re putting in and appreciate that you’re going above and beyond. At the end of the day, it’s all about making your clients happy because, in turn, it’ll grow your business.
Why should you be expanding your pool of repeat and referral business? In today’s competitive market, sphere selling is gaining importance each and every day. When you nurture a sphere that leads to repeat and referral business, you are able to rely less on low quality purchased leads. Sounds ideal, doesn’t it? Click here to learn more and try Advertise Your Listing!
How to Set Your Business Goals for 2018
By Tiana Baur
The year is coming to an end and it’s time for a moment of reflection. How close are you to hitting your goal this year and where were you this time last year? Are you guilty of setting lame, mediocre goals? There is a right way and a wrong way to set your business goals. Matthew Ferrara, real estate mogul, keynote speaker, and consultant, has some serious tips for how to go about and set your business goals. These best practices for goal-setting will help get you to where you envision yourself and your business to be, because when you care, you succeed.
First, take time to clarify your goals.
Matthew says, “Don’t start with a dollar figure. But, instead ask yourself, ‘What is the reward for all of your hard work?’ Maybe there are personal goals like saving for your retirement or putting your kids through college. Maybe it’s a professional goal such as being the best in your market place. Whatever those goals are, and they might change over time, you need to sit down and clarify those goals.” Focus on rewards first.
Next: What will it take to reach that goal?
This is where your numbers start to come in. How much revenue do you need to generate? What about in units? How many sellers/buyers does that mean? What’s the price point? Once you’d figured these out, you can find the system that helps make them a reality. As Matthew says, “The right system will go to work for you.”
The right system will…
- Take a look at historical data
- Analyze your current pipeline of contacts and prospects
- Give you a current status
- Help you build out a plan for success
You can expect some of the plans for success to include how many people you need to add to your sphere or actions the system can take care of for you like automated emailing or creating marketing tools. “The best systems don’t just organize your information. They need to activate them and help you work through that information using a process that is aimed at your goals.
Bring focus: Accountability starts with you
You need to be able to see your goal every single day. You need to see how the actions you’re making are generating the results necessary to reach the goal. Also, the technology you use should show other steps needed in order to attain said goal if you aren’t doing enough as is. This kind of information helps you with: Budgeting and planning, managing expenses, highlighting gaps in your projections, comparing current performance to previous time periods, and focus on tasks and goals.
To summarize
- Goals are critical.
- Focus on the rewards then determine revenue necessary. Then take a look at the work required to generate the revenue.
- Connect your goals to your systems. Make sure your plan is driven by the right data that guides you step by step to the goal.
- Always be measuring progress. Make sure your system helps you keep an eye on your own progress, not just daily tasks.
If you’d like, you can watch the entire video below on how to set your business goals for 2018:
For those Moxi Engage users reading this, you can now review your previous years’ goals in Moxi Engage and compare and contrast how things are going in your business. This enables you to better choose your goals for the future.
If it’s financial guidance you’re seeking, we have a recorded webinar for you to watch here.
So, what are you waiting for? Hit the ground running in 2018 with goals and grit beside you! Trust us, your future self will thank you for doing this.
My Proudest Moment as a Moxian
By Regina Kelley, Senior Manager, PMO & Quality Assurance
I love what I do here at Moxi! I have been a Moxian for almost five years and have had the opportunity to wear many different hats in that time. My role has morphed and changed, year over year thanks to my amazing and supportive manager, Mark Carlson, who continues to believe in me, challenge me, and give me the opportunity to do what I love – being a leader at Moxi Works.
My proudest moment being a leader here at Moxi has been helping a fellow Moxian grow his own career and watching him become a strong and successful leader. Andy’s journey these past nine months is worth sharing and could perhaps inspire others to grow their own careers as well!
Be an expert or demonstrate knowledge
Andy started his career as a summer intern while he was still in college and rocked the testing world right out of the gate. His performance and attitude earned him a full-time position when he graduated, and over the next six years Andy expanded his knowledge and perfected his craft. He worked hard to grow his testing and technical skills, quickly becoming our team’s go-to-guy!
Find a path, make a plan
In the first quarter of 2017, we were beginning our Quarterly Review Cycle and were talking about his goals and what was next. Our discussion lead me to ask Andy what he enjoyed most about his job and what he does daily here at Moxi. His answer came fast: He enjoyed the technical aspects of testing! He also mentioned enjoying helping his fellow teammates… So we went with it!
I approached our VP of Technology and pitched the idea of this new role on the testing team and after getting the thumbs up we created a new role just for Andy to drive and work toward – a technical lead.
The testing team had never had a lead before, so I asked Andy to do some research and define this new role and with that, a path was created. He created a plan and off he went to work toward achieving this new goal. I am a big believer in employees taking control of their own careers and this is a great example of how to get started. Find a path, and make a plan!
Create opportunities for growth
In order to grow on this new path, to become this new Technical Lead, I had to create new opportunities for him to step up. The more responsibility Andy took on and succeeded at, the more his passion grew for what he was doing, so much so that he even began creating his own opportunities for growth. It didn’t take long for Andy to reach that goal and we had ourselves a Lead.
He was doing so well and gaining so much momentum in his new role, I started asking, what’s next? How do you feel about Leadership and Management? Again, with the quick answer – I’m not interested in that, I like the technical side. But I could see that he did enjoy helping his fellow teammates and mentoring – and he was natural at it! So, I suggested to him a new growth opportunity – to mentor/ manage an intern. Although reluctant at first, he jumped in with both feet.
Check In
After that our weekly check-in meeting dynamic began to change. As the weeks went by it shifted from strictly a test status update to more focused conversations about leading and mentoring on the team. We talked about the best ways to get things done, how to grow his mentee and help others on the team continue their growth. Every week Andy walked away with new objectives and opportunities for him to stretch himself in a different way, a non-technical way.
After a couple months went by I asked Andy how he was feeling about his mentorship, and his answer didn’t come quite as quickly as before – surprisingly, he was really enjoying it! I could see the great leadership potential Andy had, he just needed to see it in himself.
Strengthen what you love
Andy and I will continue to rock the testing world here at Moxi together, and we will continue to push him and give him new opportunities to try different things – even things he may not know he will enjoy.
If you take one thing away from this story, know that you can do this too. Start by asking yourself what you love most about what you do every day, and go with it! Share that with your manager or mentor and look for new opportunities to push yourself outside of your comfort zone and take chances. You won’t know until you try, and you may find a new passion you didn’t even know you had!
