Real Estate Re Invent

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  • 1. Thank you for joining us… we will be starting momentarily. Please be patient when dialing in, other callers are dialing in at the same time and you may have to try again.
  • 2. Using the control panel <ul><li>All participants will be placed on mute </li></ul><ul><li>Q&A session will take place at the end of the presentation </li></ul><ul><li>Use the Q&A feature to send your question to the moderator </li></ul><ul><li>We will be recording the session and send out to anyone who is interested </li></ul>
  • 3. Reinvent What are you doing to reinvent yourself, your company, and your agents?
  • 4. Our mission “ To deliver a portfolio of cost-efficient consulting services and related products that leading real estate companies require to maintain and enhance their market position and profitability.”
  • 5. Our consulting team Kathleen Teare Company Analysis George Slusser M&A Rich Rector Recruiting Coach Alfonso Gordon International Business Development Randi Thornton Internet Marketing/SEO Cindy Kelly Franchise Development Jose Perez Business Development
  • 6. Our business development team Jay Teresi NY/CT/W PA Ronnie Boyd LA/TX Gerald Webber TN/KY Mike Mancuso NW FL/AL Ken Tuchtan MD/DC/VA Craig Anderson FL/GA Cindy Kelly NJ/E PA Elaine Kelleher MA/RI/VT/NH/ME
  • 7. Our strategic partners Optimizing investment in human capital
  • 8. Our goal for this call <ul><li>Identify key areas that must be addressed and explain why they are all inter-related </li></ul><ul><li>Begin a dialog amongst you and your management team (if it hasn’t already begun) about what you are doing reinvent yourself right now </li></ul><ul><li>Have you take away at least one idea that will help you reinvent yourself and your company </li></ul>
  • 9. Sound familiar? <ul><li>2006… “Bubble, what bubble?” </li></ul><ul><li>2007… “It can’t get much worse, can it?” </li></ul><ul><li>2008… “How much more can we possibly cut?” </li></ul><ul><li>2009… ??? </li></ul>
  • 10. How many of these issues are you facing? <ul><li>Ineffective website </li></ul><ul><li>Difficulty in recruiting new and experienced agents </li></ul><ul><li>Budgeting.. rising costs and lower commissions </li></ul><ul><li>Aging agent population </li></ul><ul><li>Lack of an operational plan… staffing and metrics </li></ul><ul><li>Resistance to new technology </li></ul><ul><li>Inconsistent marketing… sources and content </li></ul>
  • 11. How do you make money here?
  • 12. What are you doing to “reinvent” yourself and your company?
  • 13. Key areas to reinvent <ul><li>Recruiting </li></ul><ul><li>Facilities </li></ul><ul><li>Web 2.0 </li></ul><ul><li>Internet marketing </li></ul><ul><li>Internet inquiry response </li></ul><ul><li>YOURSELF! </li></ul>
  • 14. The new reality is not that different <ul><li>Old paradigm </li></ul><ul><li>Networking at chamber, board, country club, etc. </li></ul><ul><li>Large office necessary to house phones, info, etc. </li></ul><ul><li>Engage consumer through local activities </li></ul><ul><li>Newspapers, RE magazines </li></ul><ul><li>Helping someone who walked into your office or called you </li></ul><ul><li>New paradigm </li></ul><ul><li>Networking online </li></ul><ul><li>Mobility through technology eliminates need for excessive bricks and mortar </li></ul><ul><li>Engage consumer online </li></ul><ul><li>Internet marketing, listing syndication, SEO </li></ul><ul><li>Getting right back to people who send you an internet inquiry </li></ul>
  • 15. Recruiting How do you communicate with and engage the agent of the future?
  • 16. Who is the agent of the future? <ul><li>Not necessarily younger, but definitely willing to embrace change and technology </li></ul><ul><li>Completely mobile </li></ul><ul><li>Coachable </li></ul><ul><li>Potentially networking online instead of where you might be networking </li></ul><ul><li>If you are not “hip” they will find who is </li></ul>
  • 17. Social networking <ul><li>Online social media is the equivalent of your chamber and board functions </li></ul><ul><li>If your company doesn’t have a presence here, you will not have credibility </li></ul>
  • 18. Integrated technology strategy <ul><li>Website </li></ul><ul><li>Social media </li></ul><ul><li>Blogs </li></ul><ul><li>Search </li></ul><ul><li>CRM </li></ul><ul><li>The agent of the future will be looking for companies who can offer them this. </li></ul>
  • 19. Manager accountability <ul><li>Are your managers caretakers or are they proactive? </li></ul><ul><li>Are your managers as “hip” as the people you want in your company? </li></ul><ul><li>Are your managers held accountable for specific activities and results? </li></ul>
  • 20. Facilities Do you really still need that 12,000 square foot monument to inefficiency?
  • 21. Is this analogous?
  • 22. <ul><li>Recognize that technology is allowing agents and consumers to be much more mobile </li></ul><ul><li>People are just as comfortable meeting at Starbucks as they are in your office </li></ul><ul><li>What can you do to encourage mobility and use that to decrease your facilities overhead? </li></ul>Don’t shut your office down just yet
  • 23. Options <ul><li>Before lease is up… </li></ul><ul><li>Renegotiate terms </li></ul><ul><li>Sublease to ancillary businesses </li></ul><ul><li>Modernize… it’s 2009! </li></ul><ul><li>After lease is up… </li></ul><ul><li>Consolidate offices </li></ul><ul><li>Consider “café” style offices in certain markets </li></ul><ul><li>Don’t feel like you have to be in every little town </li></ul>
  • 24. Web 2.0 Are you engaging the consumer?
  • 25. What is Web 2.0? <ul><li>A way to enhance creativity to deliver your message </li></ul><ul><li>A way to better communicate with your audience… agents, buyers, and sellers </li></ul><ul><li>A way to share and collaborate with your audience in order to engage them </li></ul>
  • 26. Questions to ask yourself? <ul><li>Is my website just a brochure? </li></ul><ul><li>Does is it deliver valuable information that people need? </li></ul><ul><li>Does it have an easy to use search feature? </li></ul><ul><li>Am I connecting to my audience through a blog on my site? </li></ul><ul><li>Is my site working with all my other social networking activities? </li></ul>
  • 27. Internet marketing Print is the dead man walking!
  • 28. 2008 NAR home buyer survey <ul><li>87% of consumers use the internet </li></ul><ul><li>47% use print </li></ul><ul><li>87% of those who used the internet purchased through a real estate agent </li></ul><ul><li>What is your internet presence? </li></ul><ul><li>Are you syndicating your listings? </li></ul>
  • 29. Search engine optimization <ul><li>90% of consumers stop searching after the second page </li></ul><ul><li>How do search engines see your site? </li></ul><ul><li>What “keywords” do people use when searching for property in your market? </li></ul><ul><li>What is your search ranking for each of these “keywords” </li></ul>
  • 30. Internet lead management How much money are you leaving on the table?
  • 31. What is the consumer expectation? <ul><li>The online consumer expects quick response… no response and they move on </li></ul><ul><li>The online consumer is well educated and expects information that will help them with their decision </li></ul><ul><li>What does it say about our industry when approximately half of internet inquiries go unanswered? </li></ul>
  • 32. How much money are you “losing”? <ul><li>Company dollar X internet inquiries = potential revenue </li></ul><ul><li>ILM department can capture and incubate leads which you can then “sell” to agents </li></ul><ul><li>ILM department can promote your ancillary businesses </li></ul><ul><li>ILM department tells the market that you “get it” </li></ul>
  • 33. Brokerage structure
  • 34. The new paradigm <ul><li>The world has changed and lead by example. </li></ul><ul><li>Engage consumer through a Web 2.0 platform </li></ul><ul><li>Increase networking and marketing activity through an integrated SEO and social media strategy which includes lead management and CRM </li></ul><ul><li>Recruit agent of the future (will probably not come without the first three) and coach them to success </li></ul><ul><li>You are now engaging consumers as they expect and being represented by accountable agents who are in tune with that consumer </li></ul>
  • 35. Don’t be overwhelmed <ul><li>3 – 6 month goals </li></ul><ul><li>What’s your budget? </li></ul><ul><li>Based on this you can be more or less aggressive </li></ul><ul><li>For example, getting set up on most social media sites is free </li></ul><ul><li>Reinventing yourself is a mindset… start slow and build up to the “new you” </li></ul><ul><li>6 – 18 month goals </li></ul><ul><li>Based on what you are able to accomplish in the next 3 to 6 months </li></ul><ul><li>Smaller victories in the next few months will lead to larger ones later </li></ul><ul><li>What do you want to look like in 2010 and 2011? </li></ul><ul><li>What do you have to do starting today? </li></ul>
  • 36. <ul><li>Your company. Your future. </li></ul>Coming soon!! 6 month coaching program 24 weekly group calls 6 monthly company specific calls Topics will include… Recruiting, SEO, Web 2.0, facilities, internet marketing, succession planning
  • 37. Visit us online! Contact our business development team! Coming soon…
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