Lone Wolf Releases AI-Enabled Solution, Insights, Helping Brokers Start Fast in 2020
Real estate's leading tech provider launches new solution to put control of profitability directly in the hands of brokers
CAMBRIDGE, ON – January 28, 2020
Lone Wolf Technologies ("Lone Wolf") is thrilled to announce the release of a new solution: Lone Wolf Insights. The solution joins Lone Wolf's industry-leading broker suite, which also features real estate's top solutions for back office and accounting, forms, transaction management, and digital signature, and is designed to provide strategic brokerage leaders with prescriptive insights to directly influence the profitability of their brokerage. The solution is available for purchase today.
Insights is a first-of-its-kind solution that uses data science to translate brokerage data into plain language for strategic leaders. The solution aggregates and performs complex calculations on back office data, turning essential information like company dollar, gross commission income (GCI), and year-over-year trends into easily-understood visualizations and forecasts, and providing prescriptive insights that brokerage leaders can use to measurably improve their office production, agent performance, and overall profitability. It is the first of many innovations coming from Lone Wolf in 2020, including a new marketplace for its 1.4 million agent customers, as well as the next version of their industry-standard back office and accounting solution, brokerWOLF.
"I can't tell you how excited we are to release Insights today," said Jimmy Kelly, CEO of Lone Wolf. "This is a brand-new solution to Lone Wolf, and one that our customers—and the industry at large—have been demanding. Combining artificial intelligence with the power of human intelligence, Insights gives real estate leaders the kind of information they can take immediate action on and provides them much more direct control over their brokerage's profitability."
Over a year in the making, Insights was purpose-built to provide brokers and strategic leaders with actionable information in a solution with almost zero learning curve. While other solutions may offer basic analytical capabilities or simple reporting features, they often require manual aggregation and analysis of data on the part of the broker or their staff, aspects which take considerable time and lower the accuracy of the data itself. Insights, on the other hand, removes that burden entirely, filtering data and drawing conclusions automatically based upon machine-learning algorithms. With this information at their fingertips, brokers can initiate data-driven conversations to negotiate splits, identify agents who need coaching, and target highly-productive agents who are crucial to retain. These actions put the power to influence business success back in the broker's hands.
"We worked with a wide range of real estate thought leaders, experts, and professionals, and together pinpointed a major blind s¬pot in the industry: Identifying agents who need coaching and understanding what to coach them on," said Katy Pusch, Product Director of Insights at Lone Wolf. "Before Insights, it was incredibly difficult for brokers and strategic leaders to get the real-time information they needed to influence their business. Insights solves this problem, as it summarizes and interprets trends and pipeline for leaders and enables them to focus on strategy, coaching, and execution."
"Insights provides the essential operational information that brokers need to track and influence their goals," said Wendy Forsythe, founder of Wendy Forsythe Consulting and former COO of HomeSmart International. "It removes roadblocks for brokers and puts the ability to affect their business back in their hands. So profitability becomes less about the numbers, and more about how the broker uses those numbers to empower their knowledge, experience, and leadership. Qualities they have in spades, especially when it comes to real estate."
About Lone Wolf Technologies
Lone Wolf Technologies, a Vista Equity Partners portfolio company, is the North American leader in residential real estate software, serving over 1.4 million real estate professionals across Canada and the U.S. The company offers an ecosystem of technology products designed to simplify the entire transaction process, including software for back office and transaction management. Each element of this ecosystem enables brokerages, agents, MLSs, and associations to operate more efficiently, reduce costs, and increase opportunities for profitability. Lone Wolf's head office is located in Cambridge, ON, with additional offices in Dallas, TX, London, ON, and Fraser, MI.