19 November 2022Federico MasiasBy John Currie, SVP of Operations, Weichert, RealtorsCHALLENGES FOR ESTABLISHED BROKERAGES­THE TECH STACKFor well-established brokerages, one of the biggest challenges they face is building a unified technology platform offering an integrated and seamless experience for their agents and customers. Transitioning legacy systems into scalable, less-costly platforms is a problem most large, well-established brokerages are dealing with. Build IT or Buy IT?When implementing a project to build a solid tech stack, brokerages can take one of two paths to solving this problem ­ build your own internally or outsource to vendors who specialize in each area. Of those that chose the DIY path, only one has been completed with partial success. The others have abandoned their projects in favor of the vendor-driven approach. Ultimately, real estate companies shouldn't be software developers. That is why several years ago when Weichert embarked on a journey to modernize and streamline our technology, we opted for an integrated third-party model, with limited proprietary Weichert process and technology, except our selling system.With 53 years of history accumulating technical debt across a family of 19 companies, a phased approach made the most sense. The goal was to immediately improve our agent and customer experience while replacing legacy systems with solutions that delivered more scale and ongoing innovation, without the cost burden of a large development team. Our Weichert Tools platform will integrate our partner platforms into an integrated and cost-efficient environment. This way we can provide a low-cost backend that works with the full-service capabilities of a traditional brokerage.INSIGHTSCXOJohn Currie
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