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Echovate, a talent selection software company, has new tools and an updated look to help brokers find amazing talent and build better teams.
I first reviewed the company in 2015, not long into its early stages of development, when its focus on real estate had prominence.
The overlap with real estate isn’t quite as clear in its new version, but that’s a good thing.
Echovate is now driven to carefully assess how people “match” with the current company environment and specific teams as well as what in their skill set will be the most beneficial to the company.
With the updates, the software is now working on a much deeper set of data points and two additional years of user information and industry research on which its Ph.D. work force scientists can base personnel profiles.
Here’s how it works: An initial 50-question survey, that the company says takes only five minutes, gets to the heart of a person’s work traits. It ranks them according to:
- Emotional control
- Competitive nature
- Empathy
- Flexibility
- Openness
- Perseverance
- Results-oriented
- Self-discipline
- Systematic
Echovate’s CEO, Matthew Gough, told Inman in a call that the company has a 98 percent completion rate on the survey.
The results for each trait span from 0 to 100, but Gough stressed that regardless of an applicant’s final match score, the point is to match it against those already in the organization instead of looking at it as a stand-alone assessment of the individual.
The software also assigns its user — the company — a score for use in comparing how a person might fit at a high level.
A broker can use Echovate scores to compare new agents against current top producers or to compare them to agents on her or his top team.
The software also produces a multi-paragraph narrative on an applicant and suggests a list of questions based on each tested trait to ask in an interview. The profile for the manager automatically matches an applicant with existing teams.
The coaching module is also new, and it gives managers a series of suggestions to continually encourage and support current staff members according to their scores and traits. It also lets the manager know what they should do on an ongoing basis to best support their team.
Echovate can be especially beneficial to expansion teams, helping leaders integrate the best possible agent members when not in the same market.
Brokers can use Echovate as a recruiting tool, ensuring potential new agents they’re coming to a place that’s serious about who it brings on board.
The software integrates with Salesforce stats or data from other CRMs to incorporate sales performance when gauging current teams and people.
Overall the Echovate user experience is much improved, super simple to use and rich in color.
Costs vary widely for the software, ranging from $500/month to much higher, depending on the size of organization. Gough said the company currently works with a number of the real estate industry’s top brands.
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