The You Factor - The Business of Real Estate 2.0

"The Future of Abundance Interview with Tim Sanders"

Matthew Dollinger (@properties) — Thu, 02 Jul 2009 16:31:47 -0500

In my last post, "Lovecats, Likeability, and a Plan to Save the World", I discussed the teachings of someone very influential to me. Tim Sanders, New York Times bestselling author of "Love is the Killer App", "The Likeability Factor", and most recently "Saving the World at Work" has been teaching the ways of the "Lovecat" for years.

As discussed in my previous post, the "Lovecat" method focused on approaching your life and business by "Obeying the Law of Abundance", and sharing your contacts, knowledge, and compassion with those around you. This mentality was a predecessor to the Social Web mentality that dominates the "proper" uses of social networks and collaboration today. Because of this, and his forward thinking towards best business practices, I asked Tim to answer a couple of quick questions for me as to his prediction of business today and moving forwards.

(Q&A between Matt Dollinger "MD" and Tim Sanders "TS")

MD - Describe how you feel the Likeability Factor and Love is the Killer App have changed for today?

TS - Both are still true. The L Factor, in particular is important as it can look after you during tough times. More than ever, we need to inspire others with our outlook.

MD - Any insight into the Lovecat method and the rise of Social Media?

TS - Giving rocks. The Lovecat method (grow others, trust them to reciprocate) lies at the heart of social media. That’s why I find Twitter and Facebook so valuable to society. We must, however, give not take in our social media work.

MD - How would you suggest a company/business transition to “Lovecat” if they weren’t before?

TS - Trial and trial and trial. If you will give giving a chance, and a reasonable long time line for return, you’ll get hooked on it.

MD - What do you feel the biggest challenge of business today is?

TS - Overcoming the scarcity mindset that’s setting in with the recession. When we believe that “there’s not enough to go around”, we get fearful and inward thinking. That’s the enemy to innovation. It’s time to defiantly be hopeful.

MD - How do you feel Social Media has changed business today – forever?

TS - Social media has made the world more transparent and smaller. Add video on mobile phones with easy upload and there are no more secrets. This will force companies to focus on do-no-harm+do-some-good instead of simply being less bad or complying with the law. Ray Anderson (founder of Interface) once told me that compliance was “being as bad as the law will allow.”

MD - What is the #1 question that is asked of you in your speaking and what’s your answer?

TS - Question: What do you do when others take advantage of your giving nature? Answer: Look the other way, because it only happens about 10% of the time at the most. Don’t let your ego tell you that giving never gives back because it does.

The "Law of Abundance" as Tim writes about often should, in my opinion, be the new "Golden Rule" for not only Social Media, but for business and personal growth as well. Take a few minutes, view the videos below, and share your thoughts... This time the good guys WILL finish first!

Abundance Versus Scarcity Part 1 - Tim Sanders

Abundance Versus Scarcity Part 2 - Tim Sanders

Abundance Versus Scarcity Part 3 - Tim Sanders

Read more posts like this by Matt Dollinger @ www.TheYouFactor.com or follow me on Twitter here.

Lovecats, Likeability, and A Plan to Save the World

Matthew Dollinger (@properties) — Tue, 23 Jun 2009 12:25:18 -0500

Epiphany (def): a sudden, intuitive perception of or insight into the reality or essential meaning of something, usually initiated by some simple, homely, or commonplace occurrence or experience.

Many of us have had these monumental life-changing moments of discovery. Sometimes they come in the form of a higher level of understanding, consciousness, or other moments of clarity. I can honestly say that I've had a couple of these instances in my life, and I consider myself lucky. But the one that I feel is best serving for today's marketplace, for the difficulties and challenges we are all facing in the world today, came to fruition in the one of the most unlikely places for authenticity and delivered by a hipster in a suit with a microphone.

In a previous life, I served as Director of Career Development for a Prudential affiliate here in Chicago. Yearly the Prudential franchises all get together at their national convention for a week long celebration of top producers and branding hoopla. 2005's celebration, at the pinnacle of real estate's glory day, was held in Las Vegas. Somewhere near the end of the convention, in a morning keynote session filled with hung-over agents, (and just as many empty chairs), I met someone that would change my life forever. I had never heard of him before and hadn't read his books, but the message that was delivered was timely, embraceable, and (in retrospect) a precursor to where we are today. The moderator introduced him as the Chief Solutions Officer, (CSO), of Yahoo! and here began my life as influenced by Mr. Tim Sanders.

A skinny guy in an ultra modern suit took the stage, began his presentation, and I was mesmerized. For the next 45 minutes I didn't take notes, I didn't write or check emails... I sat and listened, hanging on every word. He didn't talk about marketing strategies, direct mail, or lead capture. Tim simply preached a message of social karma he referred to as "Love, the Killer App." and from that moment on, I considered myself a Lovecat.

The three steps to becoming a "Lovecat" and instituting a campaign of "biz love" into your career are as follows:

1. Share your network with those you connect with

2. Share your knowledge with everyone who might benefit

3. Share your compassion with those that need it

Tim went on to use examples of this new mindset, tell stories of "Lovecat Achievement", and read exerpts from his two books, "Love is the Killer App." and his newly released (at the time), "The Likeability Factor". Each point he made was crystal clear, almost as if reminding me of something I already knew, yet forgotten or locked away deep inside. And maybe that was it... maybe it was simply professional reinforcement. someone accomplished and respected in the "new" business world that simply said to everyone listening, "It's ok to be a nice guy/girl. And not only is it ok, but you will be more successful in business and in life by being a giving, sharing and caring individual."

I ordered both books from Amazon as soon as we got home from Las Vegas and literally devoured them many times over. I highlighted, made notes in the margin, dog-eared pages, and clipped excerpts for my presentations. My "new agent" training began to include an entire section on "Releasing your Inner Lovecat". I ordered copies of "Love is the Killer App." in bulk, began writing notes to people I knew or met inside the cover, and giving them out at random. I reorganized my reading behavior so that I could become a resource to those around me at work and in life. Networking events became quests to distribute new found knowledge and share insight with others. I was more than an advocate, more than a fan, I was a prophet for "biz-love" and I have never turned back.

The Lovecat, Social Media and Karma

I've always thought that real estate is the perfect industry for a "Lovecat". From the first days of training, agents are taught to cultivate their sphere of influence, ask for referrals, and continually add to their database. Unfortunately most training programs are focused on the acquisition of contacts and not the engagement of them. As 1000watt Consulting so brilliantly pointed out in their video, "I Am Not A Lead", we refer to our circle of influence as leads, contacts, and databases. We capture them, drip on them, and bombard them with the N.A.R. mantra that it's always a "Great Time to Buy". Even now with the evolution of Social Media/Networks, coaches charge hundreds of dollars to attend seminars and webinars geared at adding more and more people to your <insert social network here> "friends".

But those who are really using this wonderful new technology correctly are different, and it struck me about a month ago when I was re-reading "Love is the Killer App" for the hundredth time. "Sanders predicted this 5 years ago." Back before Facebook was more than a college network, before Twitter was a concept, before Web 2.0... the "Lovecat" mentality was changing the REAL world and how people interacted with one another. Think about it. Isn't this what the mentality of the Social Web is all about?

1. Share your network - (#followfriday, LinkedIn introductions, Facebook Friending)

2. Share your knowledge (Twitter link sharing, RSS, blogging, etc.)

3. Share your compassion (genuine interaction, collaboration, help)

The lines that once divided life and business are forever erased. My favorite analogy is that our parents were actually part timers in the workforce compared to us today. We are being forced, whether you like it or not, to embrace a genuinely authentic brand that carries into both our personal and professional lives. And as we adapt to emerging technologies and spread our network of influence further each day, the Lovecat mentality becomes all the more important for one reason if nothing else.

"We as people (both providers and consumers) don't have the time or desire to affiliate with those not providing value to our lives in one way or another."

This is no difference from one industry to another today. Online or off, we have come to expect value from those that we choose to associate with in one way or another. Value might not be the correct term for what we are sharing today, and so I suggest we use a Sanders-ism presented throughout his books, "Biz Love".

"Biz-Love" is defined by Tim as a relationship where "I promote your growth intelligently in a win-win sort of way. Biz Love could be mentoring an employee in a way that not only promotes the employee’s personal growth, but increases the value of that employee to the company. Another example of Biz Love could be bringing customers or partners together to increase the size of their network, their capacity, and their growth."

The question becomes, "How are you showing and sharing your biz-love with your network?

"Biz-Love" The Only Differentiation in a Commoditized World

"Biz Love" isn't just THE way to personally run your business, it also serves as THE true differentiator in a world overwhelmed with choice as Jack Trout discusses in, "Differentiate or Die". That almost every element of life has become a commodity, is something we can see in business or walking through our local grocer. True differentiation has become so few and far between, that when something actually STANDS OUT, it becomes more than a brand, more than a product/service, it becomes a movement. And when I think about brands that have achieved this "movement" status, every single one of them... EVERY ONE... operates from this Lovecat principle. Think about it...

DELL - facebook videos on how to use social media (sharing their knowledge) Amazon - if we don't carry it we'll introduce you to someone who does (sharing their network) Southwest - have an emergency and need to change your flight? no problem (sharing their compassion)

I would argue that every business or brand that TRULY stands out to you today is capitalizing on providing their network, associates, clients and the general public with an incredibly high quotient of "Biz-Love". I might also suggest that this mentality could possibly be the only true differentiator left. Service and Quality have become run-of-the-mill expectations. Price can be a factor, but cannot be considered a differentiator. Your "Social Karma", "Biz Love" or "Network Value Quotient" are true differentiators that will set you apart from those around you, ascend you (and your business) to another level, while building a network, or movement, of raving influential fans.

Life, Likeability, and Lovecats

Probably one of the most important, yet underestimated, outcomes of operating from a position of abundance rather than scarcity, is it's effect on life as a whole. So many, including some of my best friends like Rob Hahn, spend so much time trying to calculate the metrics behind what I call a Social Karma Initiative, that they tend miss the big picture influence.

Human beings are emotional creatures. We all have certain needs in our lives. The need to be loved. The need to be heard. The need to be understood. We are also, (whether we admit it or not) ego-driven in both our lives and business. By approaching life as a "Lovecat", we are able to feed these human desires and in doing so, live life in a happier, more content, positive state. In his book, "The Likeablity Factor", Tim discusses a study that shows that people who were categorized as "more likeable " typically had better relationships, were more successful, lived longer, and judged their overall quality of life HIGHER than those "less-likeable".

In today's world of financial insecurity, job instability and crisis it's hard to see the forest from the trees. We tend to focus on "right here right now" results rather than long-term influential goals. Something like "Social Karma" or "Biz-Love" seems trite while contemplating next months mortgage, a looming car payment, or if we'll have a job next quarter. But think about this... From the network that you currently have, "who is doing better in life?" The Lovecat or the person living in scarcity?" Take it a step further. "From those in your network... who would you recommend if a business opportunity arose?" Again, I'm assuming that the first person you thought of fit into the definition of a Lovecat. Likeability and the Social Karma you provide to those around you make you memorable, enjoyable, and indespensible in our overly chaotic world.

The world as we know it is forever changed and we must change with it. And where I believe, and can see in my own life, that the "Lovecat", "Biz Love", and "Likeablity" are absolute MUSTS to compete in business today, they are far from the silver bullet. They are principals to set for yourself and your business. Most importantly, they are a set of values that each and every one of us can put into place tomorrow for they are inherently grained into our DNA as human beings.

And so my challenge to you, regardless of your position or industry, is to purchase "Love is the Killer App", devour it, share it with everyone around you, and join me as a "Lovecat" in the world.

Read More from Tim Sanders at: www.SandersSays.com www.TimSanders.com or on Twitter @sanderssays

Read more posts like this and learn to evolve your business at www.TheYouFactor.com

Looking Beyond the RE.net Matix

Matthew Dollinger (@properties) — Wed, 13 May 2009 22:57:56 -0500

Neo – “Why do my eyes hurt?”

Morpheus – “Because you’ve never used them before.”

One month ago I took the red pill and woke up from the RE.net Matrix.

I think it’s important to point out here that this is not a swipe or downplaying the importance of the RE.net community. The contributors and discussions that are shared there often times border on the level of brilliance. I have learned immensely from the leaders and contributors there. This is simply a personal account of how I began to look outside the Matrix, and what I learned when I got out.

“The answer is out there, and it's looking for you, and it will find you if you want it to."

My red pill came in the form of a face to face discussion outside departure terminal 2 at Ohare. My friend and I discussed the future of the RE industry, its pitfalls, and the stonewalls that hinder it’s progress forward. We debated in circles again and again, only to come to the same conclusion; that there were obstacles that cannot be overcome by us alone. We parted, and the conversation haunted me until I realized something that Henry Ford quoted beautifully:

"Obstacles are those frightful things you see when you take your eyes off your goal."

This is when it came to light. There are obstacles that I alone, (or even collectively), cannot overcome, and was allowing them to obscure my vision. These immovable mountains were limiting my path and, although needed to be recognized, could not consume my eyes. I needed to get out. I needed to wake up. I needed to leave the comfortable nest of recurring problems and debates and exit the Matrix. I chose the Red Pill.

“Remember… all that I’m offering you is the truth and nothing more.”

My rebirth began at a Starbucks on the corner of Halsted and Irving Park in the Uptown neighborhood of Chicago, IL. It was lacking in the drama of wires, plugs and membranial goo but was just as mentally freeing. It started with a simple whitepaper compiled by one Peter Kim of micro-celebrity fame entitled, “Social Media Predictions 2009”. And as it downloaded into Firefox, I could almost hear the whine of the Matrix in the background.

“I know Kung Fu”

The whitepaper is a collaborative effort born by Peter containing the smartest voices of Social Media today. Names like Brogan, Armano, Handley and Jaffe (to name a few) replaced the characters of Mouse, Dozer and Trinity on my journey of rediscovery. None of them balked at the challenges of registration, DOJ, or physical office space. They looked beyond it to a world of possibilities unhindered by these obstacles. I smelled the possibilities, sensed the pains associated, and was excited.

“I'm trying to free your mind. But I can only show you the door. You're the one that has to walk through it.”

My next steps through the door of “awakening” forced me to retool my surrounding and purge my Reader. Blogs that I had read for years made their way to an icon resembling a garbage can and were replaced with titles like, “Logic+Emotion”, “Groundswell”, and “Influential Marketing”.

I felt disloyal abandoning old friends I held in such high regard that guided my infant footsteps in the RE.net Matrix, but knew it was something that had to be done. I also did so knowing that there were those in the Matrix that would combat, lash out, and fight my newfound mindset. But I needed to see the forest from the trees.

"He's beginning to believe."

The more I read, the more excited I became. Here were REAL ideas addressing REAL problems REALLY differently. It wasn't the latest app, CRM or other technilogical whistle that was going to solve the problems of the modern day economy - it was a complete renovation of business as a whole. I started to realize that for every great idea, for every vision that was forward thinking in the RE.net, there was somebody, that was there... fixed in their ways. They were unable to try something different, something that might be the way to change the industry. I started to believe that this... this open eyed view I was experiencing, past the boundaries of real estate, could actually do it.

“Fasten your seat belt Dorothy, 'cause Kansas is going bye-bye”

One of the best things that the Matrix has done, has been to validate some of the newer tools for change. Twitter, Facebook and Social Media as a whole are now, (thanks in large part to the RE.net), viewed as amazing methods of differentiation - foundational brickwork for industry innovation. Unfortunately, this has also (unintentionally I believe) influenced boundaries to be created that ideas and solutions must exist within. These boundaries got me thinking, "Are we truly 'innovating' if we're using Zillow's iPhone app or Trulia's Voices?" Aren't we actually "implementing other's innovations"? Where are the truly new and ground shaking ideas from within the industry? Haven't these "benchmarks" actually caused us to implement and accept rather than question and adapt? Who said we had to play within the confines established or the rules laid out by others?

The companies (outside the RE.net) we view with such adoration didn't necessarily work on this model. Zappos, Dell and Comcast (the regarded leaders in innovative implementation) utilized something BIGGER than what was in their industry. They looked past what AT&T, Shoebuy, and IBM were doing and took risks. They WROTE the rules, they didn't follow industry standards. In an awesome post, "Brands will Learn by Doing. Get Over It", David Armano talks about this risk - and the fact that mistakes will be made, and that's ok. Only by taking these risks, listening to what our consumers have to say about them, and then learning/adapting from it will our efforts be rewarded by R.O.E. (Return on Engagement). Only after "Doing" will we be able to learn and adapt accordingly.

"There is a difference between knowing the path and walking the path."

So what are the solutions that on the horizon? What is so amazing that I have learned by looking outside the RE.net Matrix?

Below is a small sampling of my thoughts that I have learned along my journey so far:

1. Let Love Rule - For brokers this means that you need to put down the battle axe that you've been grinding with your agents over commission splits, etc. Lead by Love and you will see the emergence of an entirely new business model in your company. Yes, there will still be those agents that try to milk you for all you're worth, but for every one of them, there will emerge 10 "lovecats" that if shown they are loved, will become your most loyal soldiers. For agents, get over the whole "buyers are liars" mentality and show your clients some love. They have trusted you with their most valuable asset and you (some have not) have neglected them since the market has turned. They are worried, they are scared, they are in need of an Advisor and not a trinket of your affection.

2. Learn by Doing (Listen, Learn, Adapt) - Those companies that take the biggest risks and LISTEN to the results will have the biggest competitive advantage. Ask your internal folks, your clients, and your advocates for ideas and then commit to trying them out and listening. Break free of the chains of brokerage and start managing from a position of innovation. The market is not coming back to 2005 and your website isn't going to save you. Only by taking substantial risks are you in a position to reap the rewards.

3. Education is the Key - Empower the most passionate on topics that your clients/agents find important and expose them. Allow them to talk unbridled about their thoughts and insight into these topics. Find outside experts that are more passionate and knowledgeable than them to validate their theories (To see what someone inside the RE.net has done check out what Reggie Nicolay has done here). Call businesses in your marketplace that are doing things differently and invite them to speak directly to your agents. Teach the basics in a new manner (see David Armano's presentation on 'Thinking Visually' here). Try something new. Take your top 10 agents and go on a field trip to the Apple Store for a crash course one "how to create an long-lasting customer experience" - FYI - I did... and it was amazing!

4. The Social Web is the Human Web - Those that are seeing the highest return (retention, engagement, branding) on social media are those that are engaging clients with live, human, passionate people. Eblasts and other mass-marketing serve a "touch point" purpose, but for true engagement, there are few that can hold a candle to the humanness of Comcast's Frank Eliason. Frank is passionate, he is empathetic, he is genuine... and he is human. The social web is called just that for a reason - because it begins, exists, and ends around people. (For more insight - check out the Notorious R.O.B.'s post 'It aint the Technology')

5. Trust your judgement (and that of your team) - If there's one thing that I've learned as of late, it's that YOU know your clients, market, and agents better than any consultant, guru, or expert. At a recent conference of Leading RE Companies of the World, Rob Hahn and I sat in on a group of brokers discussing their future outlook. What we learned was that there is NO "One Size Fits All" solution for the future of your business. Knoxville, TN is not Chicago, IL or San Diego, CA for that matter. Where some ideals (client care, humanizing your company, educating your agents, innovative thinking) are necessities to do battle in today's marketplace, hyperlocal (and ITS PEOPLE) is your audience. Not the brokers on Inman, not the RE.net on Twitter, and not me. Your local audience is your "collective" and that which you should focus on engaging. Be yourself and be authentic... you can't be all things to all people.

(Side note - while I was at Leading RE a broker from Texas came up to me and handed me a golden dollar. He told me that he wanted to say how much he respected the fact that I wore a suit every day to the sessions (to get away with the fact that I only shave once a week!) This small vintage-Carnagie token has stood out as something I won't often forget. It wasn't flashy, it wasn't cutting-edge, but it was HIM and it was AUTHENTIC)

“Welcome to the real world.”

The world does not look all sunshine and roses outside of the Matrix. There are challenges here as well, obstacles that I will face, and lessons to be learned from the RE.net Matrix. One cannot exist without the other in our world any more than it could in the movie. But, I for one, can attest to the fact that this world, outside the argumentative noise of existing problems, looks like one with solutions on the horizon.

Matt Dollinger

Rules for a Changing Game - The Rules of Social Media for Real Estate

Matthew Dollinger (@properties) — Thu, 30 Apr 2009 14:40:06 -0500

The Humanizing of the Social Web for Business 4-29-09 - Dollinger

The Humanizing of the Social Web for Business 4-29-09 - Dollinger Matt Dollinger

" In this presentation that I did for the Chicago Sparkt event (www.sparkt.org) I touched the "Rules for a Changing Game" for real estate and business in general. With the emergence of Social Media into the business world we are moving from a "why" to a "how" strategy for this new technology. In this presentation I talk about what is NOT going to happen in business, and more importantly what innovative and successful companies are implementing today."

A synopsis of the presentation:

So the topic was “Rules for a Changing Game” and I was presenting to a group called Sparkt (sparkt.org).

Anyway, what I was trying to convey in the first 11 slides was that Social Media is not the silver bullet to a changing RE market.

11-20 Examples of what innovative companies are doing using it – to be more human

20-28 is a little bit about monitoring social brand online and reputation management

And from 28+ here’s where I stepped outside the RE.net model to take some things from Peter Kim and David Armano.

If you haven’t read Peter Kim’s paper about “Social Media Predictions 2009” you should definitely check it out.

My thoughts in the presentation are that if “we” (those using social media to promote our business) could go through a simple 4 part checklist prior to sending the message, it would protect our brand, reputation, enhance our connecting with clients, and allow us to speak in a human and authentic voice.

Like this? Read more at www.TheYouFactor.com

The 10 Commandments of Twitter Usage (Real Estate Version)

Matthew Dollinger (@properties) — Thu, 02 Apr 2009 08:11:17 -0500

The Ten Commandments of Twitter

(Real Estate Version)

Thou shalt completely fill out thy profile
Thou shalt read Nik_Nik’s E-book before posting (Download it Here)
Thou shalt LEARN from those you follow FIRST
Thou shalt embrace a mentality of COLLABORATION
Thou shalt SHARE thy knowledge with those around you
Thou shalt READ thy article before sharing
Thou shalt NOT SPAM THY LISTINGS TO TWITTER
Thou shalt SHAMELESSLY PROMOTE thy new blog post
Thou shalt not base your Twitter-worth on FOLLOWERS
Thou shalt HELP new Tweeps learn these 10 Commandments

Share your own additional Twitter Commandments in the comments below and share this with your Tweeps!

Matt Dollinger

Redneck Home Inspection Items - Your LOL Friday Feature

Matthew Dollinger (@properties) — Fri, 20 Mar 2009 22:37:42 -0500

Disclaimer: I can use the term "Redneck" because I was born and raised a "Redneck" learned to drink Pabst Blue Ribbon, drove a tractor before a car, thought that duct tape was one of the five food groups, and still... love going to the Rodeo.

Redneck Home Inspection Issues Redneck Home Inspection Issues Matt Dollinger

Publish at Scribd or explore others: home time

Matt Dollinger

Find More Good Stuff (not really like this) at www.TheYouFactor.com

10 Steps to Building a Better Brokerage... and A Company Culture

Matthew Dollinger (@properties) — Mon, 16 Mar 2009 23:08:20 -0500

The following was originally a comment to a comment to a comment on my post "The Future of the Real Estate Office... and Company" here on Active Rain (and published on Inman.com)

For those brokers that are fearing the 100% commissions or trying to build a company of attraction for agents, I have some suggestions. First, I would suggest you talk to a couple of companies that have really survived this well (there are tons here on Active Rain).

I understand that each area is different and agents are different across the board, but having been in recruiting, I know that some agents are concerned mainly with their income, their clients, and their reputation... (and maybe their income again!) But, from my experience, if you provide for them, invest in their success, and help them run their business more effective/efficiently, they will help to build a culture that will transform your office.

So, here's an idea... Take that money that you would spend in super duper collateral materials, billboards, private offices, and yes... (it's going to hurt)... but unnecessary print advertising and do the following:

1. Get a GREAT website that will help generate business (check out this link to see some of the best)

2. Invest in a couple of local citizen journalists to teach your agents how to write great copy

3. Invest in some great Email marketing programs like MailChimp

4. Hire a couple of Temps or Interns to take their content and send it out to their clients

5. Use the copy that they write to power your company's blog to engage your client

6. Align yourself with THE BEST financial planners, attorneys, mortgage brokers, and inspectors to teach your agents advanced education

7. Align yourself with the local school to teach your agents about client psychology

8. Open your doors to the consumers and answer ALL of their questions

9. Give the agents a 5% bump in commission if they will work virtually

10. Invest in something like homefeedback.com where it will automatically send out feedback requests

11. Etc. etc. etc. Total price tag to that above = +/- 50-100K

Are your competitors doing it? probably not

Recruiting "Value" 100% T

HAT's thinking out of the box... agree or disagree that's fine. But do something... don't just whine about it. (And read Steve Murray's post "Small Ball" and change the word AGENT to BROKER)

Want more ideas like this? Subscribe to The You Factor

Matthew Dollinger

@properties

The Future of the Real Estate Office... and Company

Matthew Dollinger (@properties) — Sun, 15 Mar 2009 15:47:28 -0500

A note of thanks to Marc and Brian of 1000Watt Consulting, Joel Burslem of FOREM, and Ash Munshi of Terabitz for their contributions to this topic. Picture this…

You own a brokerage in a major city. You are an established name. And like everyone around you, you currently suffer at the hands of the real estate downturn.

Business is down 40% and your costs are spiraling out of control. Costs that include:

Print advertising. A surplus of marketing, IT, managers and support staff. And a lease for office space that provides too much room for too many agents who have no need for it.

This image is filled with roll-top desks, conference rooms and employee break rooms. It could be an office in any town, in any city, in every corner of the United States. And somewhere, in some lonely office within it, the sound of CFO’s weeping only masked by the whispers of agents talking near the coffee pot can be heard.

“So… how’s your business” “Business? It’s really tough out there.” “Yeah. Did you hear about Steve? He went to (competitor X) the other day?” “Really? Wow… Sally took a part time job at Coffee-Joes.” “Huh… That’s smart. Gives you a little cushion.” “Yeah. I’m hoping the Spring Market kicks in soon.” “Uh-huh. Maybe the stimulus thing will help. I wish it was still $15K.” “Well, I spent some money on a program to get some Internet leads yesterday.” “Really? That’s a good idea. I just started a blog.” “That’s a great idea. I heard about that Social Internet. That’s where the buyers are…” “Uh huh… I’m going to focus on the Luxury Market.” “Well… I’m gonna go to some broker’s opens. Wanna go?”

Do these images look and sound familiar?

What it could look like .

Unlock this door and enter a 2,000 sq. foot space. Inside are half a dozen customer service people with varying degrees of specialties that range from sales to legal to mortgage services. Outside, an intern arranges the courtyard space that includes tables and chairs that run along the sidewalk. Outside, music is piped in from satellite radio. Inside the flat screen panel televisions spark to life. The smell of fresh locally-roasted coffee roasted specifically for your company and branded with your logo begin to fill the air as a local pastry company delivers trays of treats.

The agent “sitting floor” dons a headset connected to her computer linked by VOIP to a central server that holds all the company listings, information, and agent contact information. The first call of the day arrives. Since the caller dialed an extension for property information, before the call is answered, the property information, pictures, property videos, neighborhood market information, tax information and comparable properties are populated on the screen.

The agent who answers the call is instantly able to provide all the information to the caller. Since they are part of your “Client Care” group they can communicate effectively and intelligently with the caller on all buying and selling . The selling agent’s schedule also appears on the screen, so the sitting line agent can setup a buyer’s interview an hour before a the appointment, which is sent immediately to the selling agent’s handheld.

A stream of passerby’s stroll through the door taking advantage of the ancillary services made available to them. Whether it sipping coffee, accessing the web from the mini bar of computers, stock quotes, RSS news feeds, and short video spots of properties and the company’s current CSR projects flow across the LCD screens as they wait. For those have brought their laptops they freely tap into the Wifi provided and log in from the companies branded webpage that also includes local news feeds, real estate information, videos of homes for sale, current market statistics, and more.

Outside the brokerage their solar powered sign displays the time, the temperature, current interest rates, as well as the # of kilowatt hours this particular office has saved by doing their part to go green. A fleet of Zip-Car hybrids that sport the company logo on them are parked out front available for both agents and local residents to use upon request. A number of dog bowls with fresh water line the side of the building and in the windows are pictures of local school outreach programs, sports teams, and children’s social responsibility groups that this brokerage has been a part of.

A young couple enters and is immediately greeted by an office manager who answers their many questions about the current real estate market. As a result of this discussion, which reveals them to be first time buyers, their needs are matched to the appropriate agent rather than whoever happens to be free at the moment.

The right agent greets the couple and takes them through the process of buying a home, the benefits, potential downfalls, and explores their short – mid – and long-term goals. He discusses school districts, why they are looking to buy a home right now, the current state of the real estate market and then asks if they have learned about “Financial Responsibility in Lending” yet. The couple replies no.

The agent invites the lending professional who occupies space inside this facility. They present a “Financial Responsibility” worksheet for these first time buyers. It’s a multi-paged brochure that discusses the responsibilities associated with mortgages, what is needed to apply for one, and what type of information will be required to apply for a mortgage.

An interested lunch crowd is invited to gather and attend an impromptu performance that includes a set list of economic talking points such as “Improving your Credit Score” and the Are you stimulated by the housing bill. This free seminar is held 2 times a week and is part of the “Home Buyer Education Curriculum”. A free flash drive containing budgeting software, articles, and a copy of the presentation is provided to each of the attendees upon completion of the seminar.

Wouldn't YOU want to work here?

The real estate office of the future starts… and ends… with the real estate Company of the future. I think that this is a good start.

Matt Dollinger
Read more like this at The You Factor.com

My First LOL Friday Post - Thanks to Mirela Monte

Matthew Dollinger (@properties) — Fri, 13 Mar 2009 12:58:40 -0500

Per my new BFF Mirela Monte I'll share my two favorite (clean) Real Estate Jokes...

A broker was dismayed when a brand new real estate office much like his own opened up next door and erected a huge sign which read 'BEST AGENTS.'

He was horrified when another competitor opened up on his right, and announced its arrival with an even larger sign, reading 'LOWEST COMMISSIONS.'

The broker panicked, until he got an idea. He put the biggest sign of all over his own real estate office. It read: 'MAIN ENTRANCE'

The Devil tells a Real Estate Agent, “Look, I can make you richer, more famous, and more successful than any Real Estate Agent alive. In fact, I can make you the greatest agent that ever lived.”

“Well,” says the Real Estate Agent, “what do I have to do in return?” The Devil smiles, “Well, of course you have to give me your soul,” he says, “but you also have to give me the souls of your children, the souls of your children’s children and, as a matter of fact, you have to give me the souls of all your descendants throughout eternity.”

“Wait a minute,” the Real Estate Agent says cautiously, “What’s the catch?”

Thanks to Mirela for bringing me into LOL Fridays.

Matt Dollinger

www.TheYouFactor.com

Bring the Love Back - The Real Estate Wakeup Call

Matthew Dollinger (@properties) — Sun, 08 Mar 2009 22:37:02 -0500

You have lost your consumer

You need to solve this problem by making it someone else's problem
You said you were going to change
You said you were going to connect
You were going to understand their needs
You were going to become integrated
You were going to find out what makes your client tick
You were going to let them into your space
Instead you focused on incentives, impressions, and going "viral"

What happened?

Inspiration, anyone? by geertdesager

Here's your wakeup call. Heed it before it's too late. Be a provider... not an advertiser... and know the difference.

Matt Dollinger

The You Factor

Like what you're reading? Find more at The You Factor

So you think your "Using" Twitter? Not yet you're not...

Matthew Dollinger (@properties) — Sat, 21 Feb 2009 21:41:32 -0600

(In Follow up to an original post at The You Factor)

And while we're all hopped up on the topic of Twitter, I wanted to give a shout out to a fellow blogger who I THINK (personally, me...) has probably put together the best list of Twitter Applications around. Twitter apps are all over the place. Whether hooking it up to FriendFeed so that your updates feed to your Facebook status, or a simple widget that resides on your blog to keep your readers up to date (see right sidebar!) these applications allow you to utilize Twitter more effectively and really harness the power of the site. In his post, "47 Awesome Twitter Tools You Should Be Using", social media guru Deontee Gordon (@deontee) outlines the many Twitter applications available and how you could utilize them (a great job in doing so I might add - since many tell you WHAT they are but not HOW to use them). In the true spirit of collaboration, and as Deontee so sweetly puts it:

So, to help make things easier, I’ve searched the Web, combed through the blogosphere, and rummaged through my del.icio.us bookmarks to sort and list some of the best Twitter sites and services the Net has to offer. This is by no means a definitive list, but I think it’ll serve us bloggers, Internet marketers, entrepreneurs, and social media junkies well.

As for me... I've boiled my applications down to TwitPic for pictures, Twitterberry for my blackberry, Twubble for finding who to follow, and Tweetdeck for my desktop Twittering. He also has a great list of blogs that he's reading as well at the lower right hand side of his site, so take a minute and check them out as well. Thanks again to Deontee for his great work and find me on Twitter @mattdollinger

Matt Dollinger
Like what you're reading here? Read more at The You Factor

Social Media, RSS, Twitter and the Future of the Real Estate Industry

Matthew Dollinger (@properties) — Sat, 21 Feb 2009 14:52:22 -0600

Yesterday, I had the pleasure of speaking to the Chicagoland Women's Council of RealtorsR on the power of Social Media in the marketplace. Originally titled, "Social Media - Do you Twitter?" I took a little creative liberty on myself and expaned the topic.

My thought behind not sticking to the initial topic was based around one simple thought:

-Twitter is not the silver bullet for real estate...

and there's so much more that they should be doing-

Personally, I enjoy Twitter, but think most of the time it's a bunch of noise unless you choose to follow the right people. And so, my presentation focused on how they could truly embrace, utilize and build upon the tools that social media, networking, microblogging, and RSS could provide to an agent. I worked on this presentation for almost 5 days, boiling it down to brass tacks, then expanding again, then editing. At the end of the day, here is what I came up with.

- It is time to evolve with your clients' needs and become a Real Estate Advisor

- Social Media is a fantastic tool that can serve as a communication/connection platform

- Social Networking as described by the movies of John Hughes

- Google Reader and RSS should serve to educate both you and your clients

- Microblogging and Twitter are communication tools to share your expertise

I truly believe that this is the start of something big... the breaking of shackles on an industry that is rooted in information guarding and old-guard salesmanship. It's time to break out and become something bigger, something new, something that will position yourself not only as an advocate and advisor of your clients, but as a gear in the overall machine towards recovery.

Below is the presentation that I used with some "web friendly" links thrown in for better understanding highlighted in BLUE.

Please email me for more information, to reuse this presentation, and as always, please share your comments below!

Chicago WCR Social Media Presentation

Also, as an added bonus... big props to Nik Nik over at MyTechOpinion.com for providing us with a very simple video explaining the benefits and pleasures of Social Media and Networking. Thanks again Nik!

Lastly, a big shout out to Mary McKnight over at Sacrilicious Marketing for sharing her Social Media presentation with me. Much thanks and very helpful! - Matt Dollinger Read More like this at The You Factor.com

Making Sense of the Real Estate Web-World’s Future

Matthew Dollinger (@properties) — Sat, 14 Feb 2009 14:59:52 -0600

Because many of the leading online real estate sites have opted to source listings directly from brokers, rather than becoming brokers themselves and displaying listings via IDX, there are many gaps in the inventory they display. Consumers are either unaware of this issue, and make life-changing decisions with incomplete information, or throw down their stone and start hopping. - 1000Watt Blog - Online Real Estate's Dirty Little Secret - Aug. 11th, 2008

They're hip. They're flashy. They're engaging... and the consumers seem to love them. 3rd party websites such as Trulia, Zillow and others are more popular than ever before. Why? That's an open question, but one that I have some theories on.

First of all, the consumer has begun to lose faith in the Real Estate Company. I believe this is due to a number of situations, but none more than our "protection" of data and forced "data-gathering" of our clients. I look at it as the Glenngary Glenn Ross dilemna... "the leads are weak", "always be closing", "coffee is for closers" etc. etc.

The difference is that consumers today don't want to be sold. They want to be engaged, they want all the information, they want you to help them... not close them. And so, they put their faith into 3rd party companies with "most" of the information, because they believe that's their main perrogative. They don't think about the 600 lb. gorrila in the room... how do these companies make money?

They're selling these leads back to the highest bidder, or selling "featured placement" of listings or company/agent branding back to those that can afford it. Maybe not the best qualified, or those with the highest satisfaction rate from clients... but those with the largest pocketbook or online advertising dollars. But... it doesn't have to be this way.

A number of months ago, 1000Watt Consulting worked together with Real Trends to compile a list of the Top Ten Real Estate Brokerage Sites in America. This bible that I have re-read and scratched countless notes across should serve as a whitepaper or blueprint for ANYONE looking to evolve with the online real estate consumer. And as someone who is currently working to develop a new site for their company, this paper has for the last 4 months served as a road map from experts in the industry to show how disconneted we have become from our clients.

As you read this paper, you'll note a recurring trend. Knowledge and Information, (not data), are provided to the consumer freely, openly, and in such levels that you forget it's a real estate site sometimes. By integrating real estate listings, statistics, school info., local restaurants, vendors, and more, these 10 sites provide the consumer with an experience that they won't soon forget.

Thanks to 1000Watt and Realtrends for taking us past the "lead capture" mentality and into the Future... of online Real Estate.

Matt Dollinger

The Best Video to Watch to Understand the Changing Industry

Matthew Dollinger (@properties) — Tue, 10 Feb 2009 11:12:10 -0600

Take a look at this video. This is produced by www.BringTheLoveBack.com and is probably one of the greatest insights into Advertising and Consumers available.

Inspiration, anyone? The trailer
by geertdesager

Please share your thoughts at www.TheYouFactor.com or join our Facebook group for The Real Estate Trusted Advisors here http://www.facebook.com/home.php?#/group.php?gid=40731831691.

Matt Dollinger
www.TheYouFactor.com

Do You Deserve Customer Loyalty? Ask Yourself Why...

Matthew Dollinger (@properties) — Thu, 22 Jan 2009 23:02:06 -0600

So I picked up on an interesting thread on Twitter today by Nick Bostic over at Agent Genius. He had written a very interesting post on Loyalty that I ended up commenting (ok... ranting) on, but it really made me think and do some serious Soul Searching.

Read the Full Post Here

The post wasn't overly eloquent... well written... or one of Nick's best (No offense, I think he's a great blogger and really enjoy reading his columns over at Agent Genius) but something about it really stood out and made me think. And most of all, it made me ask (and comment) on the question that follows:

"Do You Deserve Customer Loyalty... Ask Yourself Why?"

Below is the comment I wrote on the post.

"Nick,

Where I totally agree that there is rampant (what I call) follow-the-shiny-object loyalty out there, I think that one has to ask themself the question at the same time: “What have I done in the past, and currently, to deserve the loyalty of my consumer/client?” I worked in Real estate recruiting for a very long time, and if ever wanted to see a bigger lack of loyalty, that was it. Pay me a bigger split? You’re going to feed me leads? I’m yours.

But what is different now… is that the consumer, and the agent in that matter, has the right to question that relationship and in turn question their loyalty. As an agent (or other provider) have I :

- Worked in the best interest of my clients throughout the transaction?

- Followed up with them about changes or improvements they wanted to make to their house and provided referrals? - Assisted them with movers, tax exemption information, etc?

- Sent them a RESPA for tax purposes at the end of the year?

- Updated them on recent sales in the neighborhood that effect their eventual resale value?

- Not only SENT them, but sat down with them on a yearly basis to go over a CMA of their property?

-Called them with the recent headlines and helped them make sense of it all?

- Sat down with them to differentiate National real estate headlines from Local real estate market conditions? - Made recommendations on how to enjoy their neighborhood, schools, parks, etc?

- Overlooked my greed and advised clients that don’t need to sell right now to sit tight if it’s in their best interest?

- And lastly, if my clients ARE in financial straits and facing Foreclosure, have I come to their aid and helped them?

That… would cause me to be LOYAL. Heck, probably half of those things would probably cause me to be loyal. But in this market, and in this day and age, I think we all can admit that the bar has been raise. The question becomes, has the REALTOR we used to BUY the home, raised their game along with it."

Let me know your thoughts here... and if you deserve your customer's loyalty... I'd like to welcome you to learn, share and collaborate on My Facebook Group and at my blog www.TheYouFactor.com.

Why You are More Important Than EVER for Real Estate Data

Matthew Dollinger (@properties) — Wed, 21 Jan 2009 17:11:25 -0600

Today Kris Berg over at Inman.com posted a great entry to their blog entitled, "Countering real estate information overload". Kris writes a great blog on San Diego housing and is a columnist for Inman News. This column really made me revisit something that we often times forget in this age of information overload and technology whirlwind...

"You are the #1 Absolute Resource of Factual Information for your clients... PERIOD"

Tell me there isn't a statistic that you know is wrong in the newspaper you read the other day.

Tell me that person walking into your open house knows ALL about the inventory and neighborhood.

Tell me that the FSBO has priced and marketed their house exactly the way they should.

Tell me that local news anchor knows what the F*&K they're talking about.

Tell me the SP Case Schiller report is 100% true for this neighborhood and that one .5 miles away.

"I am the number 1 resource for Real Estate Data for all my clients"

If you say this, then pull your head out of the sand, quit drowning your sorrow in Mimosa's and online bitch-sessions, and start acting like it.

Use your head, your talent, consult a coach (if you have one) or a broker if you don't.
Educate yoursef to the teeth through your local board and educational classes
Learn some new technology
Setup Google Reader and find out what your clients are actually reading
Register on your competitors sites and find out how they are contacting them.
Pull a CMA on ALL the properties you have sold in the past and TAKE THEM TO YOUR CLIENTS TO EXPLAIN

Most of all, GET OFF YOUR @SS AND START WORKING TO MAKE A DIFFERENCE. 8 million people gathered yesterday to hear our new President speak and not once did he stand up there and say, "Oh, don't worry... Everything will be fine... I'll make it right." He stood there and told America to it's face that NOW is the time that WE have to take this challenge and make it right. Well, I think that should resonate in every ear of every Realtor across this nation. Now is the time to stand up and get to work.

- If you liked this post and think more people should read it... flag it and submit it for a feature.

- If you want to read more stuff like this on a daily basis... subscribe to my blog at www.TheYouFactor.com

- If you want to collaborate on ideas how to do this... join our Facebook Group here and friend me

- If you want to know all the craph that bounces in my brain... follow me on Twitter here

But whatever you do, make sure you do something and don't become one of those just, "Waiting for the market to Change"... Because that isn't the Change we need.

- Matt Dollinger

www.TheYouFactor.com

Why Scribd.com has moved to #1 on my Cool List for Blogging

Matthew Dollinger (@properties) — Wed, 07 Jan 2009 00:08:37 -0600

So I've been playing around with a number of free online hosting sites as of late. Since we in Chicago have the ability to access some of the most complete and up-to-date real estate statistics via Agent Metrics by Terradatum, it's really come down to a couple of things.

Is the site professional looking and allow you to personally brand yourself?
Does it allow multiple document formats? (i.e. .doc, .xls, .pdf, etc.)
Does it allow the individual to share items both publically and privately?
Does it group/categorize the documents into a workable format?
Does it do a good job of search engine tagging for the individual?
Lastly, will it embed into a blog or website seamlessly and look sweeeeeet?

Welcome to Scribd.com and quite possibly the answer to what I'm looking for. It's free, it has delivered on almost all of the things I'm looking for (minus the video and image hosting), and has worked well thus far.

Here's a link to my profile on Scribd

Here's what a link to the document looks like

And below, is what an embedded PDF file looks like in a blog post using their iPaper program.

Lakeview Attached/Detached Dec. 2008

Publish at Scribd or explore others: Annual Reports Business chicago lakeview

I've taken a look at a couple of other programs including Google Documents and Kadoo.com (who I have a conference call with this week to discuss a little further), but as of today, Scribd.com is top of my list. Try it out for free and share any insight you might have with us here.

~ Matt Dollinger

Read more of my posts at www.TheYouFactor.com

Open Invitation to Join "Real Estate 2.0 - The Migration to Trusted Advisor"

Matthew Dollinger (@properties) — Sun, 21 Dec 2008 22:49:53 -0600

My name is Matt Dollinger, and I would like to invite those of you that feel you would like to be part of what I describe below. I am a real estate Performance Coach with @properties in Chicago, IL. My job, along with my associate, is to assist our agents to become “The Future of Real Estate Agents Today”.

Recently, even before the changes in the market, I began talking about what we can simply refer to as “Real Estate 2.0”. This “Migration to Real Estate Advisor” has been fostered by some wonderfully generous leaders of our industry including Marc Davison of 1000 Watt Consulting (www.1000wattconsulting.com ), NikNik and Reggie of My Tech Opinion (www.mytechopinion.com), and others. These innovators of the industry have graciously shared their insight, research and expertise to aid me in our journey.

First let’s start with some definitions:

A real estate broker is a term which describes a party who acts as an intermediary between sellers and buyers of real estate and attempts to find sellers who wish to sell and buyers who wish to buy. (Wikipedia.org)

A professional advisor is an individual or firm that advises clients on investment matters on a professional basis. (Dictionary.com)

Therefore:

A real estate advisor: not only serves to (emotionally and rationally) represent a buyer or seller during the real estate transaction, but also serves to advise on current market conditions, future real estate investments throughout the clients’ life-cycle, as well look out for their the well-being of their investment.

Technology, market data, and industry knowledge are necessities to achieve this next-level of client service we should strive to provide. Empathy, patience, and education are the founding principals on which we have delivered and will continue to build. This complete “Advisor” is not only what the client deserves, but what they need in this time of turbulent markets. This also could potentially serve as our Killer Differentiator that will serve to be your brand, your marketing plan 2.0, and your defining moment.

And so, I welcome you to this group and will leave you with one last definition, and one last request:

Definition:
Collaboration: is a recursive process where two or more people or organizations work together toward an intersection of common goals.

Request:
I would like this group to serve as a collaborative effort for our industry and all of those that work within it. Use it as a sounding board, use it as a brainstorming group, use it to advance your business. Speak. Listen. Ask. Answer. Be Heard. Share. Invite others that you feel can advance this effort to join and do the same. This is a time of defining moments, and as we have seen in our recent election, Change can happen if you want it to.

Feel free to reach out to me with any questions or thoughts that you might have to make this effort a success, and I look forward to our collaborative success. Please join our group on Facebook Real Estate 2.0 - The Migration to Trusted Advisor if you feel this is the type of agent you aspire to be.

Matt Dollinger
www.TheYouFactor.com

Turn Your Gmail account into a Text Messaging Machine - HOW TO

Matthew Dollinger (@properties) — Sat, 13 Dec 2008 10:07:50 -0600

Big shout out to Joel Burslem from FOREM for sending out a Tweet the other day discussing Google Labs' new process for sending text messages from your Gmail account. The full "How To" can be found on the Google Labs Official Gmail Blog here , but it's easy enough. I even put together a quick video (sorry I'm writing this at the hospital so no sound!) that should guide you through the process. P.S. Joel's always throwing out great knowledge (and interesting tidbits of information as well) so you might want to follow him on Twitter if you "get Twitter". You can also find me there by checking out my Twitter Page here.

- Dollinger

Like this post? Find insight, ideas, and more how-to's at www.TheYouFactor.com

Thanks for the invite... My First Late Night Post on Justifying Commissions

Matthew Dollinger (@properties) — Thu, 21 Aug 2008 00:47:13 -0500

So I have to thank you all for inviting me to hang around with a bunch of insomniacs with broadband... great. Now my better half will never think that I come to bed.

And where I think I write most of my best stuff for my outside blog The You Factor www.theyoufactor.com after midnight, tonight I wanted to bring up something I wrote this afternoon. This was part of a lengthy comment I put together after a friend of mine Marc Davison from 1000Watt Consulting (check out their blog... it's inspiring) wrote about a conversation we had this weekend about the next version of Real Estate Search. (See the whole thread at Inman.com Here)

So I have written about commission justification before, but today for some reason it all came clear. Below is what I wrote:

"Justifying your commission comes down to you in my mind. It's like tipping at a restaurant almost. I go in expecting to get served my food, my table cleared, and maybe a little witty banter. Now if I get: recommendations, samples, made to feel comfortable, asked about myself, engaged, and that you're happy to have me as a client... i'm going above the 20% tip. (i.e. why I would pay 6%) It's paying a premium for the overall experience. The question to ask is, "Would YOU pay 6% for your service? Is it THAT great?"

Doesn't that just about sum it up? Back when I was bartending I always worked with the same thought process in mind and felt that it amounted to me making more tips than everyone else at the end of the night... (That and pouring a very generous cocktail)

Know what you're talking about. Whether it's wine or baseball, people don't want BullS@t. They would rather tell YOU than have you feed them crap you made up.

Be genuinely interested in what they have to say.

LISTEN... to whatever story they tell you, even if you've heard it before

Ask questions about them... not you... you're behind a bar... they're there paying the bills

Share my thoughts in a friendly manner, even if i know they won't agree with them

That did it for me and it kills me that more agents can't boil it down to these simple 5 principals. Thoughts?

Matt Dollinger

@properties

Viral Video: What is it and How to Use It

Matthew Dollinger (@properties) — Thu, 21 Aug 2008 00:35:00 -0500

Everyone wants to talk about video. In fact, if you're an Inman Member, I would suggest going over there and checking out the PDF slideshow put together by Kelly Roark, Scripps Network Interactive at Real Estate Connect in San Francisco on July 24, 2008 entitled 25 Great uses for Video in Real Estate.

Kelly has some great points in her presentation as well as some ideas that you might not have considered before. I will still stand by my guns and say that it needs to be good quality, (See my earlier post entitled Caution: How NOT to incorporate Video into your Business)

But what is Viral Video? What makes it VIRAL? It's a great buzz word that many have thrown around and played with out of context... but what truly makes it work? According to a Wikipedia article on Viral Video, it states that Viral Video is, "A viral video is a video clip that gains widespread popularity through the process of Internet sharing, typically through email or IM messages, blogs and other media sharing websites."

That being said, I love this example below. It's short, non-offensive, funny, and represents EVERYTHING that goes through our minds when we have to deal with one of these people. But would you associate the following words:

* Funny

* Hip

* Young

* Sarcastic

Witty

With Zillow.com? Not me. Cutting Edge, yes. Young, Hip and Witty? Probably not. This video has been viewed 5,000+ times as of this writing. How many of those people do you think went to Zillow.com? Take a look and share your thoughts... better yet... take this as an example and tell us how you intend to make your next marketing campaign viral???

"VIVA LA PILLOW JUSTICE!"

Matt Dollinger

@properties

Re-Post: What The Housing Stimulus Bill Means to You (FAQ, Tax Refunds, and More)

Matthew Dollinger (@properties) — Thu, 31 Jul 2008 23:05:03 -0500

So I posted this earlier today, but only a couple of people looked at it... I think it got lost in the mid-day noise that is Active Rain sometimes.

I am posting it again, because this is one of the most important things to happen in our industry for quite a long time... and one of the most positive. What does President Bush passing this bill actually mean to you and your clients? (an abbreviation)

* GSE Reform – including a strong independent regulator, and permanent conforming loan limits up to the greater of $417,000 or 115% local area median home price, capped at $625,500. The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008). View 2009 FHA and GSE loan limit estimates (PDF)

* FHA Reform – including permanent FHA loan limits at the greater of $271,050 or 115% of local area median home price, capped at $625,500; streamlined processing for FHA condos; reforms to the HECM program, and reforms to the FHA manufactured housing program. The downpayment requirement on FHA loans will go up to 3.5% (from 3%). The effective date for reforms is immediate upon enactment, but the loan limits will not go into effect until the expiration of the Economic Stimulus limits (December 31, 2008). View 2009 FHA and GSE loan limit estimates (PDF) FHA Reform Chart (PDF)

* Homebuyer Tax Credit - a $7500 tax credit that would be would be available for any qualified purchase between April 8, 2008 and June 30, 2009. The credit is repayable over 15 years (making it, in effect, an interest free loan). First-time homebuyer tax credit chart & Frequently asked questions about the first-time homebuyer tax credit

* FHA foreclosure rescue – development of a refinance program for homebuyers with problematic subprime loans. Lenders would write down qualified mortgages to 85% of the current appraised value and qualified borrowers would get a new FHA 30-year fixed mortgage at 90% of appraised value. Borrowers would have to share 50% of all future appreciation with FHA. The loan limit for this program is $550,440 nationwide. Program is effective on October 1, 2008. FHA Foreclosure Rescue Chart

This is really important stuff that you need to know and pass onto your clients! Follow this link to the NAR Summary of Key Provisions of H.R. 3221 - The Housing Stimulus Bill (as of 7/30/08)

Matt Dollinger

@properties

Make Sense of H.R. 3221 - The Housing Stimulus Bill - GREAT INFO

Matthew Dollinger (@properties) — Thu, 31 Jul 2008 17:30:10 -0500

Just thought that I would share a link to help everyone make sense of H.R. 3221 - The Housing Stimulus Bill. This is a direct link to the NAR page that gives a complete overview of the bill, what it means to YOU, what it means to YOUR CLIENTS, Foreclosures, and more.

This is great information for you to be able to pass onto your clients, and something that all of us should know backwards and forewards.

Matt Dollinger

@properties.

CAUTION! - How NOT to Incorportate Video into your Business

Matthew Dollinger (@properties) — Tue, 29 Jul 2008 23:51:33 -0500

Video: It's the talk of the blogosphere from listing presentation to testimonials. Unfortunately the cardinal rule that many forget in marketing is that,

"Everything that goes out, is posted, or released to the public with your name on it

IS a reflection of your business!"

Here's how I think that some of us "embrace" new technologies.

Read about new ideas or technology

Find out how others have used it

Figure out how to do it cheaper

Do it and make it public

Video is one of those things that has been around for a while, yet few really utilize it well. There have been hangups in the past with bandwidth, speed, quality, affordability, effectiveness, etc... and those are the reasons why I haven't really jumped on the bandwagon.

But don't let that stop YOU! In fact... take a look at some of these prime examples of Home Real Estate Videos:

Is This How You Highlight Your Listings?

Does This Really Reflect that Special Listing?

Is This How You Want Your Clients To Think About You?

Does This Testimonial Tell Your Story?

I realize that some of these videos are made for fun, but at the same time... haven't you seen some that look just like this? Ask yourself, "Is this how I want my clients or future clients to see me?" Think about, "Does this reflect the brand that I'm working so hard to create?" I'm not saying that you have to go out and spend Thousands of dollars to make a video... I'm simply saying make sure it tells YOUR story, in YOUR voice, to YOUR target audience.
Below is a great home listing video done by Phil over at Wellcomemat.com that he shot for his sublet apartment in NY. Does this tell his story??? I think so.

53 West 16th Street

Matt Dollinger
@properties

P.S. I in no way mean to make fun of anyone in these videos. I applaud your innovation and courage to move forward... I would just suggest you think about how this reflects your brand.

Guaranteed Way to Impress Recent Clients in 5 Minutes! Testimonial Gathering

Matthew Dollinger (@properties) — Mon, 28 Jul 2008 14:57:51 -0500

I'm going to make this short and sweet. Everyone needs a testimonial from a recent client. Why?

Makes you feel good.

Excellent marketing from a 3rd party.

3. Makes you feel good.

Your clients think you really care.

So, you want a testimonial? Here's how you get one in less than 5 minutes...

Go Here to my Testimonial Letter

Copy this into an email or Word .doc

Customize to your liking (don't forget your name and signature!)

Email or print and sign --> place self addressed & stamped letter inside if mailing

Comment on this post...

That's it. I would even suggest doing this for clients that have closed in the past. It's a great way to get them involved, keep your name in front of them, make them feel you're always looking to improve, etc.

Enjoy,

Matt Dollinger

@properties