“We’re helping to simplify the work process, so agents can focus on people’s work.”
The real estate tech boom over the past few years has been undeniable – from proptech and digital twins to iBuying and beyond. We caught up with Fayyad Sbaihat, President of Supra, to understand how the company is using technology to shape the future of its more than one million eKEY® app subscribers in North America.
Q: Supra got its start in hardware over 65 years ago. Tell us about the evolution of the company.
Today, we are more of a software company than a hardware company. In fact, we’ve moved 100% of our customers from hardware keys to digital passkeys. We are relentlessly focused on building an ecosystem that provides easy access, value-added tools and technologies that empower today’s agents.
Q: Many real estate technologies are disrupting the traditional agent-client relationship. What is Supra’s vision for technology solutions?
Real estate professionals are our collaborators, not our competitors. While digital entrants and iBuying services have given consumers more ways to research and “get into the process,” real estate professionals remain the true superheroes of the industry. No technology can replace their intuition, expertise and advice. If you’ve ever bought or sold a home, I bet you’ll agree.
Our vision of an integrated Supra ecosystem drives us toward new service paths that help agents and brokerages deliver more engaging experiences to their customers. We want to provide tools and technologies that help agents, support them and make their lives easier. If we help simplify the work process, they can focus on people’s work. We succeed if they succeed.
Q: BrokerBay recently became part of Supra. What were you interested in about their offer and how does it advance Supra’s offer?
This integration is a great example of our commitment to putting tools and technologies in the hands of agents and was a natural extension of Supra’s services.
Organizations, brokerages, and agents have been calling for a more modern and integrated referral management solution because it’s some of their most time-consuming and tedious tasks. We saw a great fit where BrokerBay’s user-friendly ecosystem could power new Supra offerings, not only for associations and their members, but also for brokerages.
Today, organizations representing nearly 200,000 real estate professionals have adopted our new Showing Management solution, and it is now the second largest and fastest growing solution. But what we have today is just the start – we’re excited for what’s to come.
Q: What are the three areas of innovation that could fuel Supra’s next chapter?
First, we will continue to expand our ecosystem, innovating in ways that empower agents, brokers and organizations and improve their productivity. We’ve heard a lot about issues like document management, bid management, and other productivity stressors. These are all things that we listen to very carefully.
Second, there is the possibility of offering greater business intelligence to real estate professionals. We see a future where we can combine Supra subscriber activity with market trend data to provide actionable listing insights. For brokerage firms, we could offer insight into team productivity and performance. Again, all the tools that allow our users to create the most value for their customers.
Finally, with the transformation of homes getting smarter, we plan to leverage the expertise and success of smart locks from our sister company Onity, a global leader in hotel access solutions. The framework is here to reshape Supra’s access methodology by seamlessly integrating smart home technology.
During our history, we have disrupted our own business on several occasions. We have paved the way for the industry by providing solutions beyond traditional access. We are looking to do it again now.
Learn more about new Supra solutions.