MoxiWorks rolls out settlement-friendly agent products
The company said its product suite has “been upgraded so buyer's agents can more quickly and easily display their value” — and see compensation offers.
Key points:
- MoxiWorks has introduced a website builder for agents that will allow them to share commission details outside the MLS.
- The company also retooled its email marketing and presentation software to integrate talking points to help agents show their value.
- Additionally, the company is hosting a webinar this month to highlight industry practice changes and technology.
As agents and brokerages adjust their practices, and organizations — including MLSs — retool for the post-settlement future of residential real estate sales, proptech companies are also working to offer products that align with NAR practice standards.
One tech firm to lean into real estate's new era is Seattle-based MoxiWorks, which announced a major update this week to its software suite and new web products to help agents conduct business in compliance with the rule changes.
Web templates allow agents to display offers of compensation
Among the company's new products is a templated website builder for agents and brokerages where professionals can market themselves and share compensation details with other agents. In the announcement, MoxiWorks claims that the website builder provides information about listings "that an agent or consumer can't get from the MLS, or any major portals, such as Zillow and Homes.com."
MoxiWorks isn't the only company to offer web-based tools for sharing compensation details, however. A handful of startups have also announced or launched commission-sharing sites that purportedly comply with the terms of the NAR settlement.
Marketing tool enhancements targeted at buyer agents
The company said it has also enhanced its ActivePipe automated email marketing tool, adding more than three dozen new buyer-focused email templates, and updated its presentation product, MoxiPresent. The upgrades are designed to help agents market their value while educating clients about the new industry practice changes and what they mean for buyers.
"80% of real estate agents are buyer-centric," said MoxiWorks CEO Eric Elfman in the announcement. "While the NAR settlement changes have led to some anxiety, brokerages and agents who use MoxiWorks have what they need at their fingertips. Our proven products have been upgraded so buyer's agents can more quickly and easily display their value and earn their commissions."
Elfman took over the CEO role at MoxiWorks in June and has said that he's focused on disrupting the real estate tech sector — including MoxiWorks — and applying a startup lens to the company given the "new reality for agents" post-settlement.
The future of the industry
Beyond the new product updates, the company is also hosting a webinar this month to discuss the rule changes, technology, potential commission compression and other topics.
On LinkedIn, Elfman also shared a video from broker-owner Anthony Lamacchia — who is slated as a panelist for the webinar — about the continuing legal threats to the industry and the enormous payday that lawyers for the plaintiffs in the commissions suits are expecting.
"I am not picking sides, but I thoroughly enjoyed Anthony's perspective," Elfman wrote in a post. "P.S. I am picking sides."