What Tech Should You Add to Your Business?
March 23, 2021
Real estate tech is needed more than ever as aspects of the transaction and workday are now remote. But deciding which tech tools to invest in can be a challenge.
“Every year, T3 Sixty assesses hundreds of technologies, and the Tech 500 is the result: a list of the industry’s leading technology for brokers and agents to choose from,” says Travis Saxton, senior vice president of technology consulting at T3 Sixty.
T3 Sixty’s Tech 500 for 2021 analyzes the residential real estate industry’s leading technologies. In compiling its list, T3 Sixty takes into account innovation and application; reliability of solutions; client satisfaction; product or service’s market share; year-over-year growth; and more. The technology products are organized into seven sections: Enterprise software; top of the funnel (engage consumers at the beginning of the sales cycle); middle of the funnel (tools that help turn prospects into customers); bottom of the funnel (for processing or handling the transaction); post funnel (supporting activities at the end of the transaction or once it has been completed); broker platform; and other technologies.
A wave of consolidation is occurring among major real estate tech players, T3 Sixty notes as one notable tech trend it’s seeing. Fifteen products on the 2021 Tech 500 list were acquired since T3 Sixty’s 2020 edition, including Showcase IDX (which was acquired by eXp World Holdings); ShowingTime (which was acquired by Zillow Group); Disclosures.io (which was acquired by HomeLight); and Top Producer (which was acquired by Constellation Real Estate Group), to name a few.
Updated: April 19, 2021