How MoxiWorks leverages human interactions & networking to maintain a +95% retention rate

What is MoxiWorks, and What does it do as a business?

• MoxiWorks weaponizes real estate agents with a wide range of software tools, that help them increase profitability, recruitment, and retention with an open real estate platform proven to drive agent sales, marketing, and productivity.
• MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 800 brokerages and more than 400,000 agents nationwide that account for more than 20% of the transactions in the U.S. MoxiWorks’ customer retention over the past seven years stands proudly at 96%. Their integrated tools are centered on sphere methodology that increases agents’ repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 50 partners that integrate to create unique brokerage solutions.
• MoxiWorks is a comprehensive open platform system for large residential real estate brokerages that serves over 800 brokerages and more than 400,000 agents nationwide that account for more than 20% of the transactions in the U.S. MoxiWorks’ customer retention over the past seven years stands proudly at 96%. Their integrated tools are centered on sphere methodology that increases agents’ repeat and referral business by 54%, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 50 partners that integrate to create unique brokerage solutions.
• MoxiWorks, puts the power of easy to use technology in the agent’s hand. MoxiWorks’ technology is built by real estate for real estate with an emphasis on sphere selling. MoxiWorks’ best-in-class suite of software solutions and open-cloud network including their productivity dashboard and CRM proven to increase annual GCC by 41% on average, their industry leading presentation tool and CMA, marketing automation center, fully robust and customizable website platform, and company intranet.

Some facts about the company

• In 2020 the company grew to ~120 employees.
• Moxiworks is in the business for more than 10 years now.
• They had funding round in 2019 from Vector Capital. And one acquisition in the same year, where Moxiworks acquired Imprev (digital marketing company that helps real estate firms create automated listings)
• They’re serving ~800 brokerages, and 400,000+ real estate agents.
• They have a good customer retention rate of 96%

Using the power of networking & partnerships

• Their integrated tools are centered on sphere methodology that increases agents’ repeat and referral business, while lowering overall technology, training, and support costs for the brokerage. The open platform known as the MoxiCloud has tools from more than 50 partners that integrate to create unique brokerage solutions.
• Realogy, the massive real estate holding company with approximately 187,500 agents in the United States, shook hands with MoxiWorks to serve as an enterprise-wide technology partner in its open ecosystem model. Access to MoxiWorks’s products will be free and opt-in for Realogy.
• Last month they made a partnership with CENTURY 21 Canada, the pioneers in Canadian Real Estate franchising. The partnership gives CENTURY 21 Canada REALTORS access to MoxiWorks’ suite of technology through a new platform called HUB21. This platform, powered by MoxiWorks is now available to all CENTURY 21 Canada Realtors.
• Adwerx, a leading provider of advertising automation for over 250 real estate firms, integrated its technology with MoxiWorks. The collaboration is making it easy for joint customers to automate time-consuming data entry processes and run hyper-local and personalized digital advertising campaigns to their Sphere of Influence.

Aligning everything with Sphere Marketing

• Moxiworks has made most of its products compatible with Sphere Marketing techniques.
• For example, their CRM, MoxiEngage, is a sphere-based software for real estate agents and brokers, built to help them create strong relationships with their customers through a person or business partner that know them or exist in their sphere of influence.
• MoxiWorks’ integrated tools being centered on sphere methodology, drastically increases agents’ repeat and referral business by 40%, while lowering overall technology, training, and support costs for the brokerage.
• Moxi grabs their field of work as a relationship based industry and that’s why they use sphere relationship based marketing philosophy in their products

MoxiWorks is built for the big players (& markets itself to be remembered this way)

• The company has utilized the strategy of being the proper solution for scaling, alongside with the complete range of software and infrastructure products, meaning its capabilities adjust to brokerages of all sizes
• Also they have integrated so many third party products into theirs. For example, MoxiWorks open platform known as the MoxiCloud has tools from more than 50 partners that integrate to create unique brokerage solutions
• All these strategies resulted in large and very large enterprises being attracted, not only for partnership deals, but also using MoxiWorks products and services in huge scales

Product development

• Moxi believes that when you build a new product, if you try to make all things for all people, it ends up being nothing to anyone.
• Everything that fit into the category of good tech features, is a default for their products, and what can be built or reached upon that product is the important aspect of its building and development process. For example, their website builder for brokerages is not just about the features on the website, but rather they work on enabling the brokerage to tell their story and transfer their brand message very clearly.
• Another strategy MoxiWorks use is that they put their engineers and all those who develop technologies for the real estate industry, under one roof with real estate agents. Meaning their end user is directly involved in the process of product development. That’s why they have a churn of only 3% to 4% and most of the real estate agents can’t do their job without the suite of Moxi’s products.