Most people have a vague idea that “cloud-based” software platforms are used over the internet and store data on a server instead of any one device. But what does using a cloud-based platform mean for your brokerage? What does it actually do that helps you close more deals?
- Your Data is Everywhere
Instead of data (like a contact or information about an ongoing deal) living in any one place, your data is stored on a third party server where it can be accessed any time, from any device.
The best example of this is email. You expect your email to work on your phone, tablet and laptop exactly the same way. Emails sent from your phone are in your “sent” folder on your laptop, etc. This type of seamless integration has become something most of us expect from the technology we use every day.
There are legacy platforms out there (they know who they are) that really did solve problems for a lot of brokerages, once upon a time. Back when computers were mostly used at work, and none of us owned more than one device, these types of solutions made sense.
But that isn’t the world we live in anymore. You probably have more than one device within arm’s reach right now. Most of us have a laptop or desktop for work, at least one or two more at home, plus a smartphone and at least one tablet. Restricting the use of an important tool to one location or device is a handicap on a broker’s productivity.
2. YOUR DATA IS SECURE
We are not trying to convince you that every cloud platform on earth is secure. You should absolutely be cautious when it comes to your brokerage’s data. But you also shouldn’t let fear hold you back from modernizing your technology.
One of the first things you need to look for when it comes to security is transparency. Before purchasing any cloud based platform you should know exactly how important your security is to the company you are about to give your data too. This is an area where an established ecosystem like Salesforce has a huge advantage. Their business model is based on industry-leading security for their clients.
A company like Salesforce (and therefore REthink) has a lot to say about the security of your data. Do some high-level research and educate yourself about the basics of encryption and avoiding things like phishing attacks. The importance of security cannot be overstated, but the possibility of your brokerage falling behind the times while your competitors invest in technology is risky as well.
3. YOUR DATA IS USEFUL
If a report is generated but no one reads it, did it make a difference? Reports and contacts that can’t be accessed might as well not exist. If any platform you use isn’t cloud-based, let’s hope it doesn’t handle any data that you might need while visiting a client’s office.
You can hire the best data scientists on earth, give them access to every piece of information you have about every deal your brokerage has ever closed, and give them unlimited resources to find actionable insights about how to grow your business. But none of it will matter if your brokers can’t access the information they need, when they need it.
4. THE CLOUD DRIVES ADOPTION
The reality of any platform that leverages your brokerage’s data is that someone is going to have to enter that data into that platform. A slick, intuitive interface will help (a lot) but at the end of the day someone is going to have to get that data into the platform in question.
If you want brokers to actually use the platforms you purchase, it only makes sense to meet them halfway. “Yes, we need you to do a little data entry every day, but you can do it whenever and wherever is the most convenient for you.” A broker can enter a few details about a deal on a flight or at home in bed. It doesn’t matter where they are if your technology solutions are built in the cloud.
Any platform that doesn’t get used can’t generate an ROI. Any investment that doesn’t generate an ROI is a waste of money. Don’t waste money, use technology that makes life easier for brokers, not more difficult.
Using cloud-based platforms like REthink CRE isn’t about being trendy. Moving your data somewhere safe where it can still be accessed easily is a necessity to remain competitive as a broker or a brokerage. If you aren’t investing in technology, you can be sure your competition is.
We have more great content about cloud based platforms coming your way soon. In the meantime, click below to learn even more examples of how a cloud based platform (like a CRM) can help your CRE brokerage close more deals.