Lone Wolf Insights filters data and draws conclusions automatically based on machine-learning algorithms.
Lone Wolf Insights filters data and draws conclusions automatically based on machine-learning algorithms.

Lone Wolf Technologies recently released Lone Wolf Insights, a “first-of-its-kind solution that uses data science to translate brokerage data into plain language for strategic leaders,” the company says.



It says Insights “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.”

Lone Wolf says this is the first of many new offerings to come this year, including a new marketplace for its 1.4 million agent customers, as well as the next version of the company’s back office and accounting solution, brokerWOLF.

“This is a brand-new solution to Lone Wolf, and one that our customers – and the industry at large – have been demanding,” says Jimmy Kelly, CEO of Lone Wolf, in a news release. “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.”

The company says the product was built to provide brokers with an “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,” the company says. Insights removes that burden, filtering data and drawing conclusions automatically based on 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,” the company says.

“We worked with a wide range of real estate thought leaders, experts and professionals, and together pinpointed a major blind spot in the industry: Identifying agents who need coaching and understanding what to coach them on,” says Katy Pusch, product director of insights at Lone Wolf.

1 COMMENT

  1. Many brokers don’t know how to read or prepare a specific real estate related Balance Sheet, or even an Income Statement (Profit and Loss). They leave that part of the business to their accountant. And the accountant just follows instructions. He is not the gate-keeper. Some in the real estate industry still think in the “shoebox” mentality. Save all relevant receipts in a shoebox and deliver twice a year to the accountant or bookkeeper. Big brokers as well as small ones and sole operators.

    And this topic should be of particular interest to those individuals in the up and coming moving forward as licenced independent “salespeople” operating as corporations.

    How many would-be franchise buyers ask to see a sample branch set of books, referencing the “bottom line” (is there one, even a minuscule one)? Referring to asking to “see” the honest bottom line? Maybe even think about viewing tax returns before signing on the bottom line. You don’t want to be involved in dealing with leftover issues.

    And how does someone buy out an existing book-value small business? What procedure is in place to see that information (not keeping a manual second set of books as has been known to happen).

    Money being put into trust accounts or moved from trust accounts whether mandatory commission trust accounts or statutory trust accounts should require at least two signatures (tangible ones not a keystroke only).

    And that should be a RECO defined “rule,” not waiting for audits to show up discrepancies. It still allows a broker to run his own business how he sees fit, but if put in place as a must-do rule, a lot of grief would be avoided as messing with trust accounts is currently short-sited.

    If general accounting practices were to be tailored to the real estate industry, which clearly they are not, we might see less of situations that are broadcast at REM, often indicating that some broker has or had his/her “fingers in the pie,“ manipulating both or either trust accounts (agent/sales rep commission trust “paycheques” and statutory trust funds disabling public trust money as regards closings stalled, sometimes a string of transactions tied to one another; and messing up law offices’ client adjustment closing statements.

    And the real estate related accounting “practices” should be CREA driven, not different in each province. One set of rules and compliance requirements right across the country (Canada).

    Every transaction must stand on its own two legs, in an un-manipulatable locked down procedure, not giant accounts tied only to trade record sheets or address cross-references identifications that appear to keep things in order (and clearly that doesn’t happen in all offices, easily manipulated behind the scenes by absentee business owners or even those who appear at the office everyday). Real estate businesses are costly to operate and it is very conveniently easy to access trust funds to carry the day.

    Businesses used to be able to operate on a handshake and a prayer, sometimes historically referred to as a wing and a prayer. Readers might be surprised to learn that even their chartered accountants, knowing full well the rules of the world of accounting procedures, have no clue how a real estate business is different from any other business or industry. Owners find out what their accountant didn’t know simultaneously on audit day.

    Just the thoughts of a near four decade rep in the real estate world, looking at things from an insider perspective. Back in the late 80s I was offered several franchise opportunities and actually considered one of them in particular. I was really impressed. Until I saw the bottom line, having asked to see their (manual of course at the time) sample branch spreadsheets (and I am no accountant, but folks it’s not rocket science). It was an earth-shattering business moment for me when I realized a branch (not identified for privacy reasons of course understandably) had such a small bottom line making it clear that “I” as a mere sales rep had a substantially bigger bottom line. This would not be a money-making business adventure.

    The people in the boardroom meeting were good people, and most efficient and accommodating. They wanted to sell me a franchise and I was prepared to buy into theirs until WHOOPS! I’d best stay on my own.

    And that is not a negative comment on franchising. But readers might find it shocking that I was told that out of all the buy a franchise sales they had had across the country no one had ever asked to see sample office spreadsheets. That was even more shocking than the numbers (or lack thereof).

    I’m no genius for sure, analytical yes, an “i” dotter and “t” crosser yes, sometimes even in overkill, but sometimes common sense is all it is.

    Respectfully submitted comment, not in any way meant as criticism.

    Carolyne L 🍁

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