How one real estate brokerage firm used Microsoft Dynamics to accelerate their growth strategy
Digital transformation using Domain 6 Industry Accelerators to manage 7,000 agents from onboarding to licensing.
This real estate brokerage firm is passionate about delivering exceptional insights and expertise in the residential and commercial real estate market. Their main goal is to deliver unparalleled experiences for clients. They have access to the best and most reliable information and education, allowing them to expertly advise at every stage of the buying and selling experience doing over 44,000 sales and rental transactions annually worth more than $25 billion. Their agents are relentless advocates for clients.
• Represent owners and tenants of all sizes across all industries
• 7,000 Agents
• Trusted brand with large global network
• 44,000 transactions per year worth more than $25 billion USD
Large (1,000-9,999 employees)
Why they chose Domain 6
- Real Estate Industry expertise
- Specific real estate technology solution with Microsoft Dynamics
- Microsoft stack for comprehensive professional development
The Business Challenge
The firm was looking for cutting edge technology to help deliver exceptional insights and expertise in the residential and commercial real estate markets. They wanted to update their accounting platform and refresh their technology to a system that was comprehensive and could support complex agent commission calculations, plans and schedules.
They also wanted to provide agents with a robust portal for visibility into their requests, register and track deals of multiple types, listings, sales, rentals and new developments. They needed a solid financial foundation they could quickly stack components on as the business grew and evolved.
Company growth organically and through acquisitions required a platform that allowed them to quickly bring on new companies and new brokers. Access to the best and most reliable information supported would help them to recruit new brokers. They knew giving them access to exceptional technology would support their professional development. Technology was an integral part of their growth strategy.
Domain 6 Inc: Real Estate Experience Makes the Difference
Microsoft Dynamics 365 platform provided the power for agents to be exceptional at what they do while providing functionality they could roll out in phases. The Microsoft partnership combined with Domain 6 real estate expertise enables clients to take an agile approach to add new functionality working in collaboration to adapt to ever-changing requirements.
- The team focused on the minimum viable product (MVP) and removed the extended the wish list. This enabled teams to focus on what is critical. Domain 6 industry experience allowed the client to see what was necessary and highly rewarding.
- Domain 6 developed a hybrid team between themselves and the client, conducting workshops that allowed the client team to get into the system as quickly as possible.
- Domain 6 also leveraged its offshore developers to use an around-the-clock development team to speed up customization and delivery.
Today, companies in the real estate sector are afraid of implementing new systems, even when necessary. The risks are high when taking team members away from their jobs and tampering with software when the business still needs to run. Domain 6’s agile, collaborative approach combined with a clear understanding of the real estate market and their business requirements meant the client could go-live in 16 weeks with little impact on their business.
The Results: Microsoft Dynamics 365 in Action
Microsoft dedication included account assignment to support the client and Domain 6. The client was included in the fast track program to monitor the project to address any issues and concerns as the project unfolded.
Real estate brokers and property managers with multiple regions and multiple commission and compensation plans are challenged with keeping agents happy by granting the visibility they need to drive more sales and provide a higher level of differentiated services. Real Estate Brokerages need a system that allows for nuances. This is where Domain 6’s Industry Accelerators become important to adding functionality to Dynamics 365. The Accelerator is built for the way a real estate broker does business.
Best Practices Learned
Go Beyond a CRM or ERP -->
Instead of shopping for a CRM or an ERP system that claims it’s made for your industry, consider a modern suite of business applications that can be stacked and developed over time. Once the foundation is solid, it opens more possibilities as the business evolves.
Embrace the Cloud -->
Moving to the cloud reduces the high cost of upgrades and the and headaches of having to buy, manage, and deploy hardware and software.
Work with Experts -->
The risk during software implementations is an integrators lack of experience in the sector. Choose not only Microsoft certified partners but people who understand the various nuances of real estate and have done it before.