Challenges
Major challenges that slowed down the growth of a real estate company in US market
Overcoming a series of challenges related to sales expansion, agent performance, lead generation and compliance in the US market is what decides the business growth. With operations spanning across multiple US states, this subscription-based real estate company had offerings for portfolio diversification, property management and homeownership support. The company relies on a network of agents to increase client acquisition rates. Sales volume and agent productivity were negatively affected during the company's expansion. This major drop directly impacted business opportunities and revenue growth as well.
A thorough evaluation showed inconsistencies in sales enablement tools and client acquisition strategies within the company. Recurring commission errors also started showing up as the existing automation tools were inefficient and less reliable. These underlying issues created payout delays, affected agent motivation and slowed productivity.
The manual compliance process also slowed administrators and exposed the company to regulatory and privacy risks. Lapses in following the US legal mandates gave way to higher agent attrition rates and associated penalties.
Solutions
A comprehensive solution for agent success and compliance
The real estate company approached Retyn as it began to confront such operational challenges. Their central issue revolved around sales expansion in the US market while improving agent productivity. A tailored solution was devised by our product development specialists soon after they studied the core cause of these challenges. Equipping the agent team with advanced sales management tools turned out to be the backbone for better performance and stronger client acquisition results.
The goal was to solve the friction points that agents faced in day-to-day operations and add transparency to subscription-based real estate transactions. It provided the structure for expansion by centralizing task automation, commission payouts, analytics and sales tracking features in one place.
The platform was built with compliance embedded at its core since the company must follow region-specific regulations set by the Federal Trade Commission (FTC), RESPA (Real Estate Settlement Procedures Act), state-level licensing laws and the Consumer Financial Protection Bureau (CFPB).
Retyn introduced the real estate sales management platform to
Optimize lead generation efforts for both quality and conversion
Engage subscribers with customized follow-ups
Track agent productivity with real-time dashboards
Automate commission tracking for on-time payouts and reduce attrition
Ensure adherence to FTC and CCPA-compliant privacy controls
Tailored software features for real estate business
Growth added new dimensions of challenges to the business. The system in place could no longer accommodate the needs, so additional feature improvements were made to strengthen its capabilities. The new features were developed with the appropriate level of competence, with results closely monitored in the long run.
Sales enablement tools
The platform integrates Multiple Listing Service (MLS), property listing tools and marketing capabilities to give agents complete control over their sales pipeline. Agents were now able to deliver more personalized customer experiences through this integrated system.
Automated lead management
As the subscription-based real estate company is about long-term client relationships, building trust at each stage of the property sales is essential. The lead management feature offers a single source of truth for subscriber data, interaction histories and transaction documents. By automatically directing the most promising leads to the right agents, the system was built to generate 35% higher efficiency and a 20% cost saving in client acquisition.
Commission management system
The commission module turned out to be a source of agent engagement. The system delivered payouts on time with near-perfect accuracy, with automation working at its core. Commissions were automatically calculated for performance-based and subscription-driven referrals while customizable structures gave the business the flexibility to design payout plans that fit their growth goals. Agents now gain clarity with transparent dashboards and secure access to their compensation details. Improved commission tracking and payouts led to greater trust within the agent network and were expected to yield a 25% retention rate.
AI-powered real estate CRM
The existing subscription model required an entirely new level of upgrade, and AI-driven CRM provided the intelligence and adaptability to fill that gap. AI-powered segmentation and subscription management made it possible for the company to offer services related to property advisory, rental income analytics and financing guidance in flexible packages. This customizable CRM focused on repeat business, retention and revenue generation by 23% within the first 6 months after implementation.
Incentive compensation management
The real estate company faced challenges in building a revenue-generating agent team as they were relying on inefficient compensation structures. Introduction of effective structuring tools ensured an accurate and real-time rewarding process. The system provided actionable updates on earnings, incentives and bonuses that helped the company understand and optimize revenue strategies.
Real-time agent performance dashboards
The agents had to perform a constant stream of tracking diverse subscription metrics. With access to customizable agent dashboards, they get complete visibility into key metrics, including commissions, conversions, referrals and subscriptions. The solution was centered on raising engagement levels by 26% and productivity rates by 35% among agents.
Compliance management
Automated compliance management was necessary to direct agents through US real estate regulations and ensure fair practices. The compliance management system monitored agent activities for adherence to marketing and disclosure rules. The main target was to reduce compliance violation risks by 37% wherever the company operates.
Client engagement tools
The platform included a client self-service portal where clients could manage their subscriptions and access property documents. The platform enabled access to personalized dashboards, real-time property updates and payment schedules to generate more leads and sales.
Results
Towards sales expansion with a productive agent workforce and proactive compliance monitoring
Retyn’s team of development experts set forth to solve the expansion challenges the company faced by rolling out new features for compliance and performance management. The company experienced improvements in agent performance, client acquisition rates and adherence to US real estate laws.
Increased sales revenue: The company was set to reach 35% growth in sales revenue with targeted sales strategies and optimized lead management tools.
Greater client retention: Investment plans that suited each client's needs and referral schemes were designed to obtain a 28% boost in repeat business.
Improved agent retention rates: The sales enablement tools and interactive dashboards helped agents track progress and improve their sales skills. On-time commission payouts were structured to reduce attrition rates by 24%.
Enhanced agent network: A 35% increase was expected in agent performance with the integration of automated commission payments and intelligent task automation.
Reduced compliance violations: The built-in compliance management feature allowed the company to respond quickly to possible compliance breaches, with a focus to bring down legal risks by 30%.
Lower administrative cost: As the complex processes were automated, the back-office workload was reduced by 28%. It helped save time, cut administrative overheads and reinvestment of resources into growth initiatives.
Approach
Taking a future-forward approach in tackling the current real estate challenges
When the real estate company approached Retyn, the team had to completely understand the root of the challenges and then develop the right solutions to resolve them, as well as design the process for long-term growth.
Falling client acquisition numbers in the US market
Careful analysis of state-wise real estate markets and dedicated resources and time were required to understand the reasons behind slow client acquisition. The company needed a solution that could stay agile and adapt in the face of changing market conditions in these regions.
We opted for an AI-driven lead generation and qualification process to prioritize profiles with the highest buying intent. The new incentive-based subscription features were also added with the goal to raise the conversion rate by 31%.
Risk of non-compliance in managing data and transactions
The system had to be adaptable as each US state has its own unique set of rules and the company operates across state lines. It was built to automatically apply the appropriate state-specific policies and tax rates for real estate transactions as and when the company needed them. The solution was developed by giving utmost importance to the privacy and security of sensitive data.
The platform integrated an automated compliance management system to simplify the compliance process and maintain alignment with RESPA, FTC and state licensing requirements. An extra layer of security was ensured with Multi-Factor Authentication for payments and CCPA-compliant data storage. The effort mainly focused on client and agent data protection and a 35% reduction in breach risks.
Linking subscription revenue to agent commissions
The company required a balanced compensation plan that could draw a fine balance between agent performance and the company’s bottom line. Consistent subscription revenue depended on balancing the acquisition of new subscribers with the continued engagement of the existing customer base.
An optimized compensation plan management system and a performance-based commission structure balanced the company's subscription retention goals and steady earnings for agents.
