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Real estate technology and marketing firm Collabra Technology announced Tuesday that it has teamed up with Bright MLS to provide the multiple listing service’s subscribers with a built-in advertising tool.
The tool is called AdBuilder. According to a statement from Collabra, AdBuilder lets agents “place professional, engaging and compliant listing ads in just a few clicks” on platforms such as Facebook, Instagram, Google and Bing. Thanks to the new partnership, agents using Bright MLS will now be able to use the tool without ever leaving the multiple listing service’s platform.
The statement also notes that marketing campaigns built with AdBuilder will include “a custom landing page optimized for lead capture,” and that agents will receive data on how their campaigns are received and interacted with. AdBuilder can also automatically build advertising for agents that includes their names, brokerage logos and other business details.
Russ Cofano
Collabra CEO Russ Cofano indicated in the statement that the tools should give agents an advantage in tougher times.
“Savvy home sellers understand that the market has shifted and many now expect digital advertising to be part of the listing agent’s marketing toolkit,” Cofano said. “By integrating AdBuilder technology within Bright’s listing management, we’ve created the industry’s most efficient way for MLS users to embrace the power of online marketing.”
Cofano’s remarks allude to the state of the market in 2022 and 2023. Thanks to rapidly rising mortgage rates, sales slowed down considerably over the last two years, forcing agents to scramble harder for what sales remain. The rate hikes have also constrained inventory, with many sellers avoiding the market altogether lest they lose their record-low, pandemic-era rates.
In addition to AdBuilder, the new partnership will give Bright MLS subscribers free access to Collabra’s SphereIndex. Collabra describes the tool as “the industry’s first, real-time digital marketing analytics tool which uses a proprietary algorithm to review an agent’s online presence.” The tool analyzes agents’ presence on platforms including Facebook, Google, Instagram, TikTok and Zillow, and ultimately creates a SphereIndex Score.
In the statement, Cofano also praised Bright MLS, saying his company is “fortunate to have” such a partner.
“They understand,” Cofano said, “that forward-thinking MLSs must continue to push the MLS value proposition.”
