“Just Ring the Bell” – Lethbridge built technology eyes national and global markets

The concept behind JRTB began with Lethbridge realtor David Agema. As with any break-through concept in the market, a great idea then moves onto the execution stage, which can be a lengthy process.

Agema originally approached local entrepreneur Steve Schafer who also agreed it was a good idea.

They then took the idea to two tech companies who worked on the project for three years but, failed to solve the technical issues. That’s when Eyren Uggeni of Tech Connect in Lethbridge got involved.

Uggeni knew that Colin Moreland, the CEO of MPP (Moreland Professional Projects – headquartered in Lethbridge), would have the team expertise to handle the technical issues. That’s underscored by the fact that Moreland was just recognized as the 2021 Top 20 Dynamic CEOs in Canada, by New York’s “CEO Publication”, one of only three Albertans on the list.

MPP became the technical partner for JRTB, coming in on a partially built solution, which they had to tear down and rebuild, before bringing JRTB to market.

Moreland explains his team started with understanding what Agema’s vision was and how the transformation of the industry could be achieved through a product like this. Then, his development staff looked at how to bring the product to the market in a way that would be palatable for the user, while also being secure and simple enough to add value. The result was an updated design with the product built around that.

David Agema already has JRTB active on some of his real estate properties and has enrolled some clients.

Moreland says the potential for the product is significant.

“We don’t see this as a Lethbridge solution – it’s a built-in- Lethbridge-solution, but the target market is truly global. It’s been developed in such a way that it can easily transfer to other markets, so it’s just a matter of getting a strong foot-hold here, extending the marketing and partnerships with realtors, real estate agencies and others, which will champion this elsewhere.”

As for expansion, Moreland says the local market will indicate when to make the next move.

“We’re more interested in how much of our local market we get this product out to, rather than how long its running here. If we got 25 or 30 of the 500-ish realtors and property developers in Lethbridge that have active properties on the system, two or three weeks after that we would probably look at being saturated here, and then expand to Calgary, Edmonton or other markets.”

“The other aspect that will drive this is ‘pull interest’. Local realtors aren’t operating independently – lots of them are affiliated with chains that have offices in other parts of the country and they’ll talk about what is being innovated here. As we get their colleagues and friends calling and asking – how do we get this – that will also indicate when it’s time to start expanding. “

Moreland continues to expound on the anticipated results from JRTB.

“In addition to the time and environmental benefit (not driving around looking at homes), there is a safety element for real estate agents (a reference to past incidents where agents have been assaulted by alleged home-buyers). There is also the opportunity for individuals who may not be actively searching for a home to still see inventory, and that creates interest.”

“Fundamentally, this is solving a disconnect between what the buyer expects, in terms of service, and what the industry is currently able to offer. So, by enabling a buyer to take control of that and not wait on the schedule of two third parties to go see a property, it enables them to see a property that much sooner and moves the decision process closer to the desired point of a sale.”

Moreland notes JRTB is allowing buyers to go one step further, self-directed.

“So, when they [the buyer] get to a realtor or the seller of the property, they’re much more convinced that this is the right property for them and they’re ready to close the deal. The technology is not totally eliminating the face-to-face aspect – the negotiation aspect – that still has to be managed by the realtor.”

Moreland outlines the critical element to JRTB compared to a smart lock box, which much of the industry is using right now.

“There are a couple of things that make this different – we’ve actually worked with regulatory bodies in Alberta and acquired the approval for this system to be utilized for real estate – that’s one major difference – another is we enforce strict identity verification in the application, that makes sure the user who is requesting the showing, is the one authorized by the realtor.

“It isn’t just a password that anyone can use and gain access – you need the code, plus you need to verify your identity at the time of the booking, which uses a world-class third-party integration we’ve developed with our partners at JRTB to enable that.”

According to Moreland, the security element has been the number one concern from the market.

“If a realtor is showing someone around, they are physically present and taking liability for the behaviour of their guests in a seller’s home. When that safety net is removed, the question becomes how do you stop a problem from happening? So that tight identity verification and the check-and-balance of the realtor actually approving the new client before they’re able to get a code, are critical differences.”

“If you’re not a qualified and credible buyer, who passes the identity verification step, then the realtor can’t approve you to see the property and your desire to use the system in a non malfeasant way, simply isn’t there.

With JRTB offering its security element and simplifying the home selling procedure, it won’t be long before the program is picked up across the province, the country and the globe.

by Dori Modney

“Just Ring the Bell” – Lethbridge built technology eyes national and global markets

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