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Transcript of Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development...
Windermere Real Windermere Real EstateEstate
A Changing A Changing LandscapeLandscapeMichael Fanning Michael Fanning
VP, Business DevelopmentVP, Business Development
[email protected]@windermere.com
OverviewOverview
Landscape is changingLandscape is changing New agents and a new customerNew agents and a new customer
What is the value propositionWhat is the value proposition ProfessionalismProfessionalism ConsistencyConsistency It’s not about you it’s about meIt’s not about you it’s about me
Are the systems being used?Are the systems being used?
The information ageThe information age
1970 1981 1984 1994 1970 1981 1984 1994 1999 1999 2003 2003
IntelIntel MTV Mac Launches Netscape MTV Mac Launches Netscape Google Google Buy a home Buy a home
Most of your customers have experienced much of this and are expecting more then what they are currently getting form the Real Estate community today.
Our Customers and Our Customers and Agents?Agents?
•Gen Xers are becoming our customers and our agents.
•Grew up in the information age, are skeptical of everything
•Time is of the essence and they have limited loyalty.
•See attached Test and Article.
The Successful Agent The Successful Agent
FirstFirst: 82% of the customers will : 82% of the customers will work with the first agent that got work with the first agent that got back to them with quality back to them with quality information information
FastFast: Customers expect a response : Customers expect a response within 2 hourswithin 2 hours
FrequentFrequent: The biggest issue : The biggest issue customers had with the real estate customers had with the real estate agent was poor communication.agent was poor communication.
How do your agents How do your agents stack up?stack up?
According to a recent study from NAR the According to a recent study from NAR the following are some national stats.following are some national stats.
68% of the agents have their own website68% of the agents have their own website Out of the 68% only 52% provide an IDX search Out of the 68% only 52% provide an IDX search
functionfunction 12% of agents use a system or technology to 12% of agents use a system or technology to
quantify their leads from their site.quantify their leads from their site. 47% of the people now use the Web to locate
agents Only 42% of those agents respond to inquiries 70% take 2-days to reply
Timeline for Internet ConsumersBuyers and Sellers
PHASE 0ExperientialUp to 4 years
PHASE 1Pre-research5.5 months
PHASE 2Active Research
1.4 months
PHASE 3Selling
2.4 months
TRIGGER TRIGGER TRIGGER SOLD
SELLERS
PHASE 0ExperientialUp to 4 years
PHASE 1Pre-research7.1 months
PHASE 2Active Research
5.5 months
PHASE 3Buying
4.1 months
TRIGGER TRIGGER TRIGGER PURCHASE
BUYERS
Why are websites and systems important?
What is the next stepWhat is the next step
Home work assignmentHome work assignment Do you demonstrate by example? Do you demonstrate by example?
What does your office webpage look What does your office webpage look like?like?
Have you looked at all your agent’s Have you looked at all your agent’s webpage's?webpage's? Do you know what your looking for?Do you know what your looking for?
Good readingGood reading
What is the customer What is the customer looking for.looking for.
Easy Navigation, Don’t make them think.Easy Navigation, Don’t make them think. Value add features. Search is huge, Value add features. Search is huge,
Community information, Buyer and Community information, Buyer and Seller educational information. Seller educational information.
Don’t capture the customer up front. The Don’t capture the customer up front. The later the capture the richer the lead. later the capture the richer the lead.
Ability to search the entire MLS and save Ability to search the entire MLS and save searches. searches.
7 second rule.7 second rule.
ComparisonComparison
What are you looking forWhat are you looking for
First Impression is it Professional First Impression is it Professional looking and representative of looking and representative of Windermere. Windermere.
Is there value for the customers or is it Is there value for the customers or is it all about the agent?all about the agent?
Are there calls to action?Are there calls to action? Can you easily contact the agent?Can you easily contact the agent? Why does this matter? Because the Why does this matter? Because the
traffic is growing by leaps and bounds.traffic is growing by leaps and bounds.
Web TrafficWeb Traffic
What are agents wired to What are agents wired to do?do?
Pre Customer Customer/Relationship
Past Client.
20%
50%
20%
Need a System
Need a System
The Agent will always focus here it is what they are wired to do.
•Vis plus
•Web Site marketing
•Sphere of Influence
•Automatic E-mail notification.
•Custom Xpress
6 months to a year 45 – 90 Days Never Ending
•On-line Collaboration
•Contact Management
•E-mail/Phone communication
•Weekly activity reports
•CMS Notifications
•Vis Plus
•Custom Xpress
•E-mail News letter.
•E-mail CMA home evaluation
The Process for successful The Process for successful businessbusiness
Auto e-mail from Agent websitesOn-line CollaborationContact Management system
Premium Agent websites and or a custom site
Friends and Family are referring you now.
Marketing CampaignsCustom Express Visibility PlusHome Update News Letter.
The Key to this system is consistency.
How often are agents How often are agents getting in front of their getting in front of their
clients?clients?
How often are agents How often are agents getting in front of their getting in front of their
clients?clients?
Ideas to take backIdeas to take backHow do we compare to other Professional Services providers
Example:
My Financial Planner, monthly communication consistently.
Useful information about financial planning
Easy to use website where I can track all my finances. In addition e-mail updates monthly about my various investments. But none to my wife because she doesn’t want to see them monthly just a report at the end of the year for her. The services is customized depending on the customer.
Results. I have referred 8 customers to my financial planner and will continue to do so.
Ideas to take backIdeas to take back
Today on Windermere.com we have 100000 mywindermere accounts yet only 9000 are associated to an agent. 9%
Combination of Custom Xpress and CMS an agent can easily reach out to all their customers to make sure this association has occurred.
Ideas to take backIdeas to take backMake it easy.
Combination of Vis Plus and the Web site news letter can help drive traffic to your website as well as cultivate new customers.
Actual test case
Agent X Started Vis Plus and News letter e-mail to a client base of 200 customers, broken down 150 on Vis Plus and 50 on e-mail news letter.
First year. Net Revenue for Vis Plus $25,000 Web news letter $18,000
Second year. Net Revenue from Vis Plus $36,000
Web news letter $45,000 client base increased to 575.
300 on Vis Plus and 275 on Web based news letter.
Total cost for two years of Vis Plus and Web site $2200 ROI %650.00
Ideas to take backIdeas to take back
Vis Plus : Only 50% of our agents us this tool and only 25% of the 50 use it consistently. Many agents us it for 2 or 3 months then stop.
Home Work AssignmentHome Work Assignment
1. How is your office and agents preparing for the new customer?
1. Web-sites, are they working, do they have one, does your office have one?
2. Is the branding and marketing consistent and professional if not why?
2. What % of your agents have systems in place to deal with the 3 different stages of the customer.
1. Help them use programs so they can focus on what they are wired to do (build relationships)
2. Make sure systems are geared to be automatic or else adoption won’t occur.
3. Help agents to better understand the tools available through your company by using them yourself.