I recently talked to someone who left a national franchise brokerage a few months ago to start his own brokerage with his team.
He mentioned he didn’t realize how much his brokerage had been doing for him during our conversation. Now, instead of focusing on production, he’s getting pulled into the operational issues of running and growing a business — beyond simply recruiting and leading.
The legal, financial, regulatory, and branding and marketing challenges are all part of building a business. But I think there is a better way. Why not tap into a platform that has already taken care of these challenges for you?
As-a-service companies aren’t new. SaaS (software as a service), PaaS (platform as a service) and IaaS (infrastructure as a service) companies have been around for decades.
The beauty of these as-a-service companies is that they don’t require an individual business owner, or in our case, real estate professional, to have to take on the risk or reinvent the wheel to reap the rewards.
Types of as-a-service companies
Software as a service
These cloud application services use the internet to deliver applications that a third-party vendor manages. Generally, no downloads or installation is required on the client side.
Examples: Google Workspace, Salesforce, Dropbox.
Platform as a service
Instead of delivering software via the internet, PaaS provides a software-creation platform, giving developers freedom to focus on software building without the need to manage the operating systems, software updates or infrastructure.
Examples: Google App Engine, Zoho Creator, Wasabi.
Infrastructure as a service
Cloud infrastructure services are entirely self-service for accessing and monitoring networks, storage and other services. This option allows businesses to purchase only what they need, on-demand, without having to buy hardware.
Examples: Amazon Web Services (AWS), Rackspace, Google Compute Engine (GCE).
Real estate platform as a service
A real estate platform as a service is an all-in-one, done-for-you platform that accelerates top-producing real estate teams’ and individual agents’ growth through operations, training, marketing, conversion, financial services, culture, community and home services stack.
In addition to the traditional real estate sales systems and support, a real estate platform as a service includes valuable extras, such as human resources, title, mortgage, property management, technology, productivity training, leadership training, wealth management, health coaching, insurance, moving services and more.
Add to that the rocket fuel combination of culture and a community of learning-based, growth-minded professionals and customers — and you’ve got an unbeatable business.
In short, a real estate platform as a service creates a robust consumer-facing business that also offers a streamlined experience for agents and their clients, no matter where they are.
It sounds a lot like a franchise brokerage, doesn’t it? Well, not exactly. A real estate platform as a service can still operate inside a franchise or even an independent brokerage. However, they may choose to become their independent brokerage as well.
Remember, a franchise brokerage allows you (the agent or team owner) to purchase the right to use the franchise’s expertise, systems and branding to help you build your own business.
An independent brokerage is usually smaller and local. You may not have the same brand awareness as a larger franchise, but you still have access to a broker, market reach, and some systems and training in theory.
A real estate platform as a service is simply another layer on top, providing even more support and faster growth to agents through the platform’s proven models and systems.
What does this all mean? It means new and experienced agents and business owners have more options than ever before. It also means that brokerage owners, team leaders and real estate business owners need to understand the landscape and make sure they add move value, more robust services, and an all-around better experience to their businesses — because it’s what agents want.
Furthermore, there is an opportunity for business owners to create a unique community and culture around their vision, beliefs and values. Now, perhaps more than ever, community at work for professionals and community for customers is where it is at.
These elements together create a real estate platform as a service, which I believe is the next significant iteration in the real estate industry.
Adam Hergenrother is the founder and CEO of Adam Hergenrother Companies, the author of The Founder & The Force Multiplier, and the host of the podcast, Business Meets Spirituality. Learn more about Adam’s holistic approach to business here.
