Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development...

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Windermere Real Windermere Real Estate Estate A Changing A Changing Landscape Landscape Michael Fanning Michael Fanning VP, Business Development VP, Business Development [email protected] [email protected]

Transcript of Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development...

Page 1: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

Windermere Real Windermere Real EstateEstate

A Changing A Changing LandscapeLandscapeMichael Fanning Michael Fanning

VP, Business DevelopmentVP, Business Development

[email protected]@windermere.com

Page 2: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@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?

Page 3: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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.

Page 4: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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.

Page 5: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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.

Page 6: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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

Page 7: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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?

Page 8: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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?

Page 9: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

Good readingGood reading

Page 10: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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.

Page 11: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

ComparisonComparison

Page 12: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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.

Page 13: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

Web TrafficWeb Traffic

Page 14: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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

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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.

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How often are agents How often are agents getting in front of their getting in front of their

clients?clients?

Page 17: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

How often are agents How often are agents getting in front of their getting in front of their

clients?clients?

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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.

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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.

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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

Page 21: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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.

Page 22: Windermere Real Estate A Changing Landscape Michael Fanning VP, Business Development fanning@windermere.com.

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.