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Be Wary: ‘Free’ Tech Costs More than You Think

Real estate tech companies are increasingly providing free technology, but the freemium versions come with a risk of mediocrity.

NEW YORK – In the interest of keeping costs lean, some real estate brokerages make the mistake of choosing basic, free technology tools for their agents.

While favoring "freemium" versions over premium ones might save money upfront, it also drives the brokerage to a state of mediocrity. Without high-quality resources, like those incorporating artificial intelligence, to help them increase their productivity and step up their performance, experts say property professionals are likely to jump ship to another brokerage.

According to 1000watt's recent survey of more than 400 U.S. agents who switched brokerages in the last two years, more than a quarter cited better technology as motivation for the move and one in three pointed to enhanced marketing support.

Not only will brokerages that go the low route with technology lose top talent, they also will start to blend in with the crowd, reducing their competitiveness.

Source: RISMedia (11/16/23) Mindard, Michael

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