There is no question that realtors are trying to save money on everything; including their marketing.

For many agents "saving" is synonomous with "stopping". The irony is that in this tough economy you've got to do a lot more and better marketing just to stay even.

Slowing down or stopping your marketing to save money is just going to make you starve.

Happily, you live in an age of very good news.

Not only can you do more and better marketing than ever before, you can do it almost for free; if you do it yourself. And doing marketing efficiently and effectively yourself has never before been more possible.

It's absolutely amazing how many powerful marketing tools and strategies are available to you for very little, or no cost at all. If you like to use your computer and enjoy learning new things you can do with it, then learning how to do a better job of do-it-yourself marketing can be a real game changer for you.

To help you learn more and learn faster I'm starting a new Group called DIY Marketing. Topics we'll be discussing include, but are not limited to:

• Free writing software
• How to become an expert
• Free graphics software
• Quick and easy and free writing software
• Free web site creation software
• Great graphics from the artfully challenged
• Free planning software
• How to capture Web leads
• Free email
• How to automate lead followup Free sources of miscellaneous software How to keep in touch with everybody, for free
• Free widget making software
• How to control and manage leads

Sounds good doesn't it? And it's going to be even better. Why? Because this Group is going to operate differently:

1. It is a Members Only Group
2. Not everyone will qualify to become a full-fledged Member
3. Not every Member will be able to stay a Member

Here's the deal.

• Anyone can apply for trial Membership.
• To be accepted as a full Member you must post at least one DIY idea to the Group within the first week of your trial Membership.
• To maintain your Membership you must contribute at least one new DIY post per month.

That's how we're going to consistently generate and share a lot of great ideas. If the idea of DIY Marketing interests you, come join us, and tell a friend.

Real estate licensing authorities want you to keep up with your professional development. That's why they require Continuing Education for license renewals.

The education requirements, and offerings, are typically heavy on the legal and ethical side of the business; but they do allow for courses that can help your business be more successful.

I'm in the process of developing courses for Continuing Education approval. Naturally I'd prefer to develop courses that will be popular and very helpful.  This little survey will help.

So, the next time you have to take a Continuing Education Course, what would you like to see on your list of choices?

ActiveRain, Facebook, LinkedIn, Twitter; there's a lot to wrap your arms around, I know, I've been emersed in the details for the last month.  Here's a four minute overview to help bring some order out of the chaos. 

By the way, if you haven't checked out "SlideShare" (the free service I used to publish this presentation) you ought to check it out.  It's a great way for you to add original substance and credibility to your blog posts and Web sites.

 

 

Our first post in this series, "Do the Math On Relationship Marketing" provided an online calculator that let you play with your own numbers. I expect that your own math has stimulated a vigorous new interest in beefing up your relationship marketing capabilities. Here's what you should do next.

1. Consolidate Your Databases

Pull all of your various databases into a spreadsheet:

• MLS Prospects
• Leads from your Web site(s)
• Outlook Records
• AOL, Yahoo, Hotmail, Gmail, etc. Records
• PDA and Mobile Phone Records
• Business Cards
• Membership Lists
• Napkins
• Other?

Clean them up:

• Make sure all the data is in the correct column (i.e. first names in first name column, emails in email address column, etc.)
• Capitalize letters of first and last names.
• Delete people you don't want to market to.
• Correct spelling.
• Get missing email addresses

2. Categorize Your Records

Create a new column in your spreadsheet called "Contact Type"

Create the following standardized Contact Types:

• Newly Met; i.e. people you've just met who are not currently in the market to buy or sell
• Met; i.e. people you've had some two way communication with in the past who are not currently in the market to buy or sell
• Client; i.e. people who've bought or sold with you in the past
• Hot Buyer; i.e. people who are ready to make an offer as soon as they find something they really want
• Warm Buyer; i.e. people who are looking, but not quite ready to make an offer yet
• Hot Seller; i.e. people who are ready to accept a good offer
• Warm Seller; i.e. people who are thinking about selling, but aren't quite ready to list
• Vendor; i.e. third parties you work with
• Agent/Broker; i.e. other agents/brokers you network with

Enter these Contact Types, as appropriate, for each name into your spreadsheet.  Use multiple Contact Types as needed; just separate them with commas.

3. Count Your Email Addresses

Because email template links can bring people directly to your Web content, email/Web marketing is the fastest, easiest, cheapest and best marketing communications you can do. When email/Web marketing is automated, you've got a virtual relationship marketing and lead generation machine.

Count your email addresses, and run your numbers again (through the Relationship Marketing Calculator above) to see what kind of results you can expect from your automated email campaigns. Then count the records without email addresses, but with mailing addresses, and run those numbers. Keep in mind that you'll have to do a lot of expensive printing, handling and posting to market to this second group.

4. Plan to Get More Email Addresses

After you've done step three above I'm pretty sure that you'll wish you had a lot more email addresses. In this step you'll make plans to get them:

• Make calls and ask for them
• Integrate more forms on your Web sites for lead capture
• Make offers in your mailings that require going to your Web site and completing an email address form
• Purchase lists of targeted email addresses
• Train staff to be diligent about getting email addresses

If you want to get the most out of your relationship marketing efforts it is essential that you optimize the biggest email database possible.  Watch for our next steps.

 

　

　

Are you aware that there is one kind of marketing that outproduces every other kind, by far? And do you also realize that with today's technologies you can implement much larger camapaigns of this kind of marketing at much lower cost?

Relationship Marketing Works Best

Year after year the NAR does extensive surveys of actual home buyers and sellers. And year after year, the results are the same. When asked how people found their real estate agents they say overwhelmingly that they found them through relationships. The graphic below breaks out the detail.

Ironically, the most marketing money is always spent on media that produces the smallest results.

How Much More Could You Be Making Through Relationship Marketing?

To help you answer that question I've created a free, online calculator that will help you do the math. Go ahead and run your numbers. Then come back and share your comments here.  I'll bet most of you are going to be very surprised.

 

The real estate business model is changing rapidly; driven by technology and the economic turmoil. 

We formed the ActiveRain Group "Optimizers" to collaborate on ways to make the best of this situation.

To facilitate the discussion we wrote The Model for Creating an Elite Boutique Real Estate Brokerage.

Now, we've developed an Optimizer Self-Assessment to help jump-start the Business Optimization Process. 

Take the Optimizer Self-Assessment

The first step in the Business Optimization Process is to determine your starting point. This Assessment is a checklist that enables you to inventory and measure your status on key Business Optimization issues.  It's a fast and easy way to review your big picture and get a much clearer sense of direction. Put a checkmark next to each Optimization issue you've already got under control.  When you're done you can request an immediate report that shows:        1. All of the Optimizer issues        2. All of your status responses        3. Your Planning Percent of Completion calculation        4. Your Communications Percent of Completion calculation        5. Your Systems Percent of Completion calculation        6. Your Team Work Percent of Completion calculation        7. Your Overall Optimization Percent of Completion calculation

Go to the Optimizer Self-Assessment Now.

Why an Elite Boutique Real Estate Brokerage? Why Now?

Yah, the economy is bad. Sales are down. Prices are down. Loans are harder to get. Unemployment is high. Blah, blah; blah blah.

The truth is that the overwhelming majority of people still has jobs and money to spend. In fact, the tougher things get, the more real estate bargains there are. So people who have money are, and will continue to be, a fantastic market.

Now people who still have "bread" didn't keep it by being slow in the head. They may have been asleep at the wheel for awhile, but this train wreck has got surely got them awake now; and they aren't going back to sleep anytime soon. They're going to be doing their spending with their eyes wide open; and from now on they're going to be looking for people who really know what they are doing to help them.

So pay close attention because this is the exact condition where those who can effectively demonstrate that they are elite boutique brokers will surge to the forefront.

What Do Potential Elite Boutique Brokers Know?

1. It still comes down to relationships.

Who are buyers and sellers gonna trust to help them with the biggest purchases of their lives?

• Someone whose name they just saw for the first time? Nope.
• Someone who never seems to be available? Nope.
• Someone who takes forever to get back to them, if ever? Nope
• Someone they've never spoken to? Nope.
• Someone who appears to be pretty much like every other agent out there? Nope.
• Someone who doesn't seem to be really connected to all the right resources? Nope.
• Someone who hasn't fully demonstrated that they really know what they're doing? Nope.
• Someone who plays real estate like the lotto; just waiting to hit the lucky score? Nope

The potential Elite Boutique Brokers know that strong relationships are the absolutely necessary foundation for doing transactions. And the potential Elite Boutique Broker knows that striving to build superior credibility, confidence, and trust through consistent demonstrations of significant value and responsiveness is the best and only real way to build strong, productive relationships. 

2. Technology is leveling the playing field.

In years past it took an awful lot of money to buy print advertising to promote the office' listings. That's one of the ways big national franchises and large local brokerages, with their big volume advertising discounts, created huge financial barriers to entry for elite boutique brokerages. But now, huge changes are happening very fast.

Consider what's happening to the newspaper industry:

• Circulation is dropping like a rock
• Advertising revenues are plummeting
• Newspaper staffs are shrinking (so their product is getting worse, not better)
• Newspapers are closing; even the big flagships are in trouble

Does all this mean that people care less about getting news? On the contrary, they care so much that they're shifting to getting their news online via Web sites, Blogs, email and text messaging. Why? Because it's faster, more comprehensive, more in-depth, more up to the minute and more connected to other resources than print media could ever be.

You've already seen how vitally important Internet listings have become. That phenomenon together with the downward spirals print newspapers are on means that real estate print advertising is becoming less and less important. Before much longer listing print advertising is going to virtually disappear.

And this listing print advertising decline means that the listing advertising volume discount barrier that national franchises and large local brokers previously enjoyed is also coming down.

For Elite Boutique Brokers this sea change calls into question a number of other sacred cows:

• Why then pay the high cost of buying into and maintaining a national franchise?
  • Especially if you know that you're doing all your own rain making anyway?
• Why obligate yourself to lease attractive office space large enough to support a critical mass of agents to help pay your rent?
• Why pay to furnish and equip said office? 
  • Especially since everybody at least has a computer at home and a mobile phone; and everything that needs to be done in this business can be networked online?
• Why continue to pay to keep the lights on, the phones connected and the copier running? 
  • Especially since communications can be totally mobile and electronic; and you need to be out in the field anyway?

Year after year NAR surveys show that franchise affiliation is significant in agent selections less than 7% of the time. Agents and brokers have been far more impressed with these affiliations than the buyers and sellers ever were. 

The technology forced decline in newspaper listing advertising is leading to a complete reevaluation of the whole bricks and mortar real estate model. And that's leading the savviest agents and brokers to realize there are huge advantages to be gained by transforming themselves into elite boutique brokerages. 

Technology that already exists, plus real estate savvy; equals an exciting new business model, and boundless opportunity.

"If a window of opportunity appears, don't pull down the shade."

Tom Peters

"If you don't have a plan for yourself, you'll be part of someone else's."

 

---

 

 

Here It Is: The Model for Creating an Elite Boutique Real Estate Brokerage

This model is not just a random pile of tactics piled upon tactics; as far too many real estate operations are today. 

Instead, this is a comprehensive model for integrating proven strategies, technologies and people into a complete, synergistic organization capable of exceptionally high cost efficiency and productivity.

There are four major sections in this model that fit together like pieces in a puzzle:

1. Planning
2. Communications
3. Systems
4. Team Work

Each major section contains sub-pieces as outlined below.

 

"Organizing is what you do before you do something,

so that when you do it, it is not all mixed up."

A. Milne

 

These are the five pieces within the Planning Section of the Model.

1. Vision

What is your dream? What do you want your organization to become? 

As long as you're designing your business, you might as well be clear about how you'd like it to perform.

The most important question to answer is; what kind of Life Style do you want your business to afford you?

• On a personal level the issues are income and time spent getting it.
• On a business level the issues are largely about how you will spend what percentages of your time.

If you most enjoy working directly with clients, then having a lot of agents working for you isn't the best idea. On the other hand, if you prefer managing people, then lots of agents and administrative help are a good idea.

Think about these issues carefully, before your business takes on a life of its own. A little more thought up front will help ensure it turns out just the way you like it.

2. Targeting

Target marketing works better because:

• It gets you away from the "one-size-fits-all" approach that really doesn't impress anyone.
• It causes you to delve deeper into the specific wants, needs and solutions for the people in the niche. Consequently you truly become more valuable to the people in that niche.
• It causes you to seek out marketing channels that will connect you more directly and cost effectively to prospects in that niche.
• It causes you to create marketing communications that speak more directly to the interests of prospects in that niche.
• It helps distinguish you as an expert in that niche; which makes you much more attractive to prospects in that niche.

For example, think about some of the possible niches within the buyer segment:

• First timers
• Single women
• Single men
• Young couples
• Middle aged couples
• Old couples
• Young families
• Families with teens
• Soon to be empty nesters
• Soon to retire
• Job relocators
• Investors

Even though they are all potential buyers, the wants, needs and solutions for each of these niches are really quite different. 

The channels for reaching the prospects within each of these niches are quite different. 

The expertise you need to truly be of great value to the prospects in each of these niches is quite different.

Figure out which niches you are attracted to, know the most about, and can help the most. That's where you're going to find your greatest success.

3. Strategy

What do you need to do to achieve your vision?

With your Vision and Target Niche(s) in mind you'll be in a better position to develop your best strategy for achieving your goals.

This is the piece where you'll figure out:

• The best channel(s) for reaching your target prospects:
  • Web
  • Email
  • Social networking
  • Direct mail
  • Advertising
• Your best offer(s) for attracting responses from your target prospects:
  • Web site content
  • Webinar content
  • Publication content
  • Meeting content
  • Email content
  • Consultation content
  • Referral content
• Your best systems for managing:
  • Marketing Campaigns
  • Leads
  • Sales Follow up
  • Relationships
  • Administrative Activities
• Your needs for:
  • Recruiting
  • Orientation
  • Training
  • Team Building
  • Team Coordination

The right strategy makes any tactic work better. The right strategy puts less pressure on executing your tactics perfectly.

4. Tactics

What do you need to do to achieve your strategy; and when?

This is the piece where the preparation in Visioning, Targeting, and Strategizing really pays off. Now you're in position to choose implementation tactics that work together in a comprehensive and synergistic manner to:

• Cover all the necessary bases
• Reduce redundancy
• Lower costs
• Increase efficiency
• Increase productivity
• Increase return on investment

Consequently you'll be able to make much smarter choices about how and when you will use:

• Vendor services
• Web technologies
• Communication systems
• Computer equipment, software and services
• Staffing

Carving your turns better is a tactic.

Choosing the right ski area in the first place is a strategy.

Everyone skis better in Utah, it turns out.

Seth Godin

5. Budget

Budgeting will make you realize that planning is not a linear process, but an iterative one. You can and should start with a grand vision, ambitious and multiple target markets, plus comprehensive strategy and tactics capable of delivering your desired results; but don't expect your first pass to be your last. Budgeting will help you revise and tighten your plan, then show you where and how to package your plan into prioritized, bite-sized steps.

Q. What's the best way to eat an elephant? 

A. One bite at a time.

Comprehensive planning is vital, because it enables you to make your best, most integrated and therefore cost effective decisions about the rest of your business. It also puts you into a very solid place for creating all of your marketing communications.

Sir Issace Newton has the answer - Unbalanced Force

The High Value of a Low Grief Factor (and worth every penny)

Only 6.9% of all U.S. Residential Inventory is Investment Worthy

Change good or bad?

Do the office surroundings make a difference to you?

Realtors Think They Work a Full-Time Job - Do You?

 

 

"The two words information' and communication' are often used interchangeably, but they signify quite different things. Information is giving out; communication is getting through."

Sydney J. Harris

The goal of all your communications is to start, build and maintain relationships that are strong enough to do repeated business and get referrals.

It's helpful to realize that the business of starting, building and maintaining relationships is very similar to courting. In courting it's almost never productive to start with, "Hi! Will you marry me?" Instead the process follows this natural progression:

• Initial meeting
• A mutual search for commonality
• Agreements to spend more time together (i.e. coffee, lunch, dinner, shared activities, etc.)
• Deeper searches for commonality
• Making and keeping mutual commitments
• Growing credibility, confidence and trust

After enough of that relationship building process has transpired, "Will you marry me?" becomes a much easier question to ask and answer.

As much as we might want the business relationship process to be different, it's really not. We still have to have:

• Initial meetings
• Searches for commonality
• Agreements to spend greater amounts of time together, doing deeper searches for commonality
• Making and keeping mutual commitments
• Growing enough credibility, confidence and trust to do business

All of your communications should be designed to facilitate the natural relationship building process. They should flow smoothly and seamlessly from initial attraction (i.e. your lead generation offers), through your initial calls and emails, then through your presentations. All along the way all of your communications should be helping you build ever increasing amounts of credibility, confidence and trust.

What you say, where you say it, how you say it, and when you say it all need to be taken into account when you create your marketing communications. 

These are the seven pieces within the Communications section of the Model.

 

1. Web Sites

The Web is a communications content library. Anything you can see on a computer can be organized and hosted on the Web. Once on the Web people can be led to it through search engines, or via links in email and other Web pages.

Never before have agents and brokers been able to make so much high quality marketing communications, available to so many people, at such low cost. You truly are in the Golden Age of Real Estate Marketing.

Elite Boutique Brokers need to move beyond the cookie cutter template sites that so many others have into revealing more of their unique personalities, knowledge and ability.

2. Blogging

One of the very best ways to build a library of unique content that shows who you are, what you know, and how you help. 

Your posts can become a key element in your ongoing automated marketing campaigns.

3. Email

Whether custom messages, boilerplate, or mass distributions; email is fast, easy and almost free no matter how many messages you send

A robust email library for both marketing and administrative uses is a must for Elite Boutique Brokers.

4. Direct Mail

Sometimes the only way to reach people, especially initially, is through physical direct mail. Elite Boutique Brokers will still use direct mail to help build their relationship marketing databases.

5. Social Networking

Whether it's in person at clubs, associations, Chambers and other membership organizations; or online through LinkedIn, FaceBook or Twitter; social networking is an important part of the Elite Boutique Broker's marketing mix.

6. Advertising

While traditional newspaper listing advertising is in decline, there will still be opportunities to get targeted visibility for your offers in a wide variety of publications. When combined with Web pages, online forms and email; advertising will help generate productive relationships.

7. Presentations

Presentations are vitally important because they can help you communicate a great deal of complex information quickly and simply. Strong presentations can be a tremendous aid in building the levels of credibility, confidence and trust you need to do business.

Presentations published to the Web make it easy for you to give them anytime from any place; for one person or even hundreds at a time.

"Communication works for those who work at it."

 John Powell

Once you have your content created you'll need systems in place systems to automate marketing campaign scheduling and distribution; as well as a host of other things.

 

What we are all about

Nothing Happens Till the Conversation Starts

Are SEOs Really Criminals? It Seams That Is The Case For Google!

What do your clients say about you?

Tutorial: How to Network More Effectively - Part 1

Tutorial: How to Network More Effectively - Part 2

The Power of 3 To Make You Choice #1  

How to Demonstrate Your Knowledge, Skill and Performance

Let's Create a 1st Time Buyers Webinar Together: Part 1 - The Webinar Outline

my new Realtor is an amazing on top kick ass don't waste one second of time fireball. she doesn't miss ONE TRICK !!!  

A Better Strategy For Making Offers

How to Get More Marketing Value From Your Blog Posts

Hi! Will you marry me?

Guerilla Relationship Marketing

 

It's truly amazing to see how much technology has leveled the playing field. An entire real estate business can be effectively run (actually, more effectively run) from a laptop, mobile phone and the Web.

Web sites enable you to host more and better content, that is visible to far more people, for much less money than print.

Email enables you to contact more people, faster and easier for practically no money; and it can link directly to all your Web content

Online real estate systems can hold all of your contacts, your schedule, your notes, your correspondence (both outbound and inbound), and complete histories; and make them accessible from your laptop or PDA/phone anytime, from anywhere.

These same online real estate systems can easily and quickly expand from a single agent to dozens of agents and staff; all networked online; all sharing the same database, notes, schedules, correspondence and histories.

These same online real estate systems can automatically capture Web leads as well as schedule and distribute entire, year-long, targeted, custom, marketing campaigns.

Other online systems can be integrated to create documents, obtain signatures, and manage entire transaction processes.

Given all that capability, plus the speed and coordination advantages, at comparatively very low cost; it's increasingly hard to justify the high expense of renting, furnishing, equipping and maintaining a brick and mortar office. That money could be much more productively spent on additional marketing.

Smart systems selection and implementation will give elite boutique brokers a huge competitive edge over the old schoolers.

These are the eight pieces within the Systems section of the Model.

1. Relationship Management

The higher the volume of business you want to do, the more you'll need to automate your starting, building and maintaining of your relationships. If you want to bring additional agents into your operation, you'll definitely want to automate your relationship management.

More and more often your first point of contact will be your Web site. You'll need Web forms that capture visitor contact information, automatically import it to your contact database, and automatically trigger a sequence of email and call follow-up.

After that you'll need additional targeted sequences that distribute appropriate information to niche buyers and sellers.

In addition, you'll need automated follow-up appropriate to newly met people who aren't currently in the market; as well as appropriate continuing communications to your "Mets" and past clients who are not currently in the market either.

The volume and complexity of keeping up with all the various sequences is daunting, unless you have fully automated relationship management systems in place; then it's a snap.

2. Scheduling

Staying on top of your own schedule can be a challenge. Factor in some administrative staff and additional agents and you've got the makings of a three ring circus.

To function as a smooth running team, that doesn't drop any balls, you'll need an integrated scheduling system that all of you can access anytime, from anywhere.

3. Lead Generation

Over the last 50 years homeowners across the U.S. moved at an average rate of 10% per year. Local conditions have made local move rates fluctuate between 5% and 15%. The good news is, no matter what the conditions, homeowners keep moving.

The trick to lead generation is to get them to pick you. "Pick" is the key word, because movers have lots of choices. The trick to getting people to pick you is to offer them something you know they really need and would like to have. 

Once they respond to your offer the relationship building clock starts.

The trick after that is to offer the next logical thing that will draw them closer to you; then the next; then the next; and so on.

To generate and follow-up leads effectively you'll first need to use your understanding of your target markets to create compelling Web communications and your email library.

Then you'll need to create a series of automation campaigns for distributing the right content to the right people at the right time.

Enough compelling, targeted offers made to enough of the right people will generate plenty of leads.

4. Presentations

Good presentation production systems will make if fast and easy to create personalized highly professional presentations. These systems should also automatically publish your presentations to the Web so you can do more Webinar like presentations to individuals and groups alike; on the fly.

5. Work Flow

Conceptually, the task is very simple: You want everything, done right, on time.

If you're working alone, and you're doing a pretty good volume of business, meeting that goal can be very challenging at times.

Add a few more people to the mix who can't share the same information and you're in a three ring circus; many, many balls are going to be dropped.

Online systems can enable ever expanding groups of people to easily share information and tasks, thus tightening team coordination and work flow.

6. Listing Management

There are a lot of parts to the job of marketing listings well; staging, photos, virtual tours, Web listings, flyers, agent promotions, showings, etc.

If you do more than one listing at a time you'll have dozens and dozens of balls to keep constantly in the air.

A good, online system will keep you on top of everything and make it easy to delegate and supervise tasks.

7. Closing Management

There are a lot of parts to the job of effectively managing escrows to closing.

If you do more than one escrow at a time you'll have dozens and dozens of critical balls to keep constantly in the air.

A good, online system will help keep you on top of everything and make it easy to delegate and supervise tasks.

8. Reporting

To manage a team effectively you need a way to quickly and easily know the status of just about everything. Who's doing what for whom? When's the deadline? How far along is the project?

You'll need a way to answer these questions across your entire team, and down to the individual situation.

A good, online real estate broker's system will enable you to do that.

At this point you've got a solid Plan, your Communications are ready to go, and you've got your Systems in place to handle everything in the most efficient, productive manner. Now it's time to consider your Team Work.

 

Systematize The Things You do Over and Over Again

Briefcase Full Of Tech Tricks!

How to Get More From Top Producer 8i

What's your Favorite Webinar Hosting Platform? + Invite to Growth Leader Mastermind Call

Redfin - Is Redfin really "a better way?"

New iPhone from Apple - It just keeps getting better

Real Estate Online Auctions - Webinar this Thursday

The Easiest Optimized WordPress Landing Page You Can Make!

Making the Real Estate Process Easier - We Got Your Tools!

Do you like free stuff?

Another Freebie - Yes Absolutely Free! Free - Free - Free!

 

"Technology does not run an enterprise, relationships do."

Patricia Fripp

Developing the skills to create and manage a high-performance team is probably the most difficult transition for elite boutique brokers to make. 

There is a huge difference between being a star performer and a star manager. In fact, the tendency to just do it yourself, because you can do it better, is what keeps star performers from becoming star managers. 

Star Managers are able to find joy in letting go and empowering others to become the best they can be.

If you are starting as a single performer, then building your Planning, Communications and Systems foundations will solidify your high-level performance. At that point you may be having so much fun, and success, that you might want to just stay a single performer.

If you still want to go all the way and build an Elite Boutique Brokerage you'll find that all of the work you've done on this model will give you a great head start.

These are the three pieces within the Team Work section of the Model.

1. Recruiting

"Selecting the right person for the right job is the largest part of coaching."

Philip Crosby

Having those foundations and performance track record in place will make it easier to attract and retain really good people, because they will appreciate, respect and see the personal advantages that what you've built affords them.

If they don't "get it", or aren't ready to help support your model, they certainly don't belong in your boutique.

2. Training

"No coach has ever won a game by what he knows; it's what his players know that counts."

Paul Bryant

One of the great benefits of implementing this Model is that you'll have a comprehensive system of best practices in place for every critical function. 

It will be much easier to assimilate new people into your organization, because well planned, efficient, integrated systems will be in place.  Learn the system and you've learned how to do the job at a very high level.

Consequently your training curve will be much shorter and easier. Just make sure that everyone on your team understands your Plan, Communications and Systems.

3. Work Flow

"Coaches have to watch for what they don't want to see

and listen to what they don't want to hear."

John Madden

Team coordination is inherently part of your system. 

Your systems will enable you to watch and listen, but people will still need coaching to get your team up to a high performance level.

 

What Kind of Line Leader are You?

Rely on your broker - they can help you get unstuck

This Is Where "OPTIMIZERS" Discuss RECRUITING

Considering a Real Estate Virtual Assistant? Know What You Are Paying For? Read & Learn

4 Broker Keys to Recruitment, Retention & Productivity Success

 

---

 

The Elite Boutique Broker Model at a Glance

 

---

 

Conclusion

Everywhere agents and brokers turn they are bombarded with, "Try this!", "Try that!" Free floating tactics piled upon more free floating tactics. It's like preparing for a cross country car trip with this mindset: 

"Oooo, let's pack some of these, and some of those too! I bet they will come in handy." 

What you get with this approach is a mixed bag of disjointed and incomplete tactical decisions, all made without bothering to:

• Check the tires
• Check the oil
• Get some maps (or a GPS)
• Figure out where to stay along the way
• Calculating how much you'll need for expenses
• Delegating who will help with what

Technology and the economic train wreck are causing massive changes to the real estate industry. Those who cling to the old school methods of print advertising, big franchise fees, bricks and mortar operations, and incomplete technology integration are riding a train to nowhere.

Those who see opportunity in the sea changes and prepare to take advantage of them by thinking through, then implementing their Planning, Communications, Systems and Team Work are going seize the day.

"High achievers spot rich opportunities swiftly, make big decisions quickly and move into action immediately.

Follow these principles and you can make your dreams come true."

Robert H. Schuller

So, how ready are you to become an Elite Boutique Brokerage?

To have a good shot you'll need to meet these basic requirements:

• You've been in the real estate business five or more years
• You have a broker's license
• You've consistently earned over $100k per year
• You consider yourself to be in the top 10% of real estate sales knowledge
• You are your own rain maker
• You desire more independence
• You want to captain your own ship
• You have a passion for empowering others

If you meet those criteria, then an Elite Boutique Brokerage Assessment will help you:

1. See where you are
2. See where you need to go
3. Learn how to get there

Click here to schedule your Elite Boutique Brokerage Assessment.

"Opportunity is missed by most people because it is dressed in overalls and looks like work."

Thomas Alva Edison

---

This post is part of a continuing discussion in our ActiveRain Group called:

You are more than welcome to Join Us.

 

No, I'm not talking about those kind of offers.  This is about a strategy for making more and better marketing offers, so you'll be in position to make and receive more of those other kind of offers.

Why is making more and better marketing offers so important?  Because:

• Offers invite responses
• Responses lead to more conversations
• More conversations lead to more business 

Tips For Making More Effective Marketing Offers

1. Offers should be related to your purpose:

• If your purpose is to have fun; offer invitations to a picnic
• If your purpose is to have your prospects eat better; offer recipe postcards
• If your purpose is to sell more real estate; offer them information that leads to buying and selling real estate

2. Offers should be carefully targeted to specific individuals

Buyers belong to niches:

• First time
• Moving up
• Moving down
• Moving far away
• Moving with kids
• Moving without kids
• Buying for residence
• Buying for investment
• And others

Sellers belong to niches:

• Moving up
• Moving down
• Moving out
• Divorcing
• Deceased
• Distressed
• And others

"One-size-fits-all" kind of marketing messages don't fit anyone well at all.  Marketing offers of information specifically targeted to the needs and interests of specific niches will generate much stronger responses.

And it works even better when you make niche targeted offers to people who are actually in those niches.

3. Offer fulfillments should be information based

Sure, you could offer free movie tickets and generate a large and enthusiastic response; from people who want free movie tickets, but have absolutely no interest in buying or selling real estate.

On the other hand, information about viable options for people who are having trouble making their mortgage payments would only draw, well, people who are having trouble making their mortgage payments.

Information offers cause your target prospects to self-select.

Information offers also do one other very important thing; they position you as a person having a lot of knowledge on the topic.  Year after year, NAR surveys show that favorable perception of an agents real estate knowledge is one of the very most important agent selection factors.

That's why making information offers, even if they are not responded to at the time, does a lot to build agents credibility.  High credibility is what helps generate calls and referrals down the road (provided, of course, you keep in touch by making an endless series of easy-to-say-yes-to offers)

4. Offers should be easy-to-say-yes-to

What makes an offer easy-to-say-yes-to?

• Make sure the information you offer is valuable and useful to your target recipients.
• Make your offers to people who are the most likely to be interested in the information you are offering.
• Make your information easy to receive.  "Click here to download" is easiest.  "Call..." is a little harder.  Send or stop by are significantly harder.  The harder you make it, the lower your response rate.

5. Offer fulfillments should facilitate conversations

You're never going to sell a house without first being in conversations with your prospects.  So the sooner your offers lead to direct conversations, the better.

Text information offers can lead to productive conversations, but that interim step takes longer.  Webinars are more powerful offers because they immediately put you into conversations with your target prospects. 

To learn more about Webinars join our ActiveRain Group, Webinars R Us. 

6. Offers should be planned to escalate in a series

Think of your marketing offer strategy like courting.  It usually doesn't work to say, "Hi!  Will you marry me?" 

Summary

• Think through your series of easy-to-say-yes-to steps.
• Pick your targets. 
• Offer them valuable and useful information packages that escalate in a series toward your goal. 
• Leverage the Web and technology for distribution to increase quality, performance while you lower your marketing costs. 
• You're going to do a lot more business.

    

Recruiting is a big topic with lots of facets.  It also has a great deal to do with the design and implementation of improved real estate business models.  So we're giving recruiting its own special space here in our Optimizers Collaboration Project.

The only absolute requirement of a real estate business model is that it must sustainably generate income that significantly exceeds its expenses. 

Real estate business models that can and do meet that requirement come in a wide variety of sizes, focus, and quality levels.   The combinations and permutations of overheads, technologies, recruiting specs, training capabilities, compensation plans and management styles to achieve that income requirement are endless.

Our goal for the RECRUITING part of the Optimizers discussion is to weigh the pros and cons of each of the recruiting variables so each of our Members can better choose a personal combination that will work best.

Here is an outline of Recruiting Issues to help get the discussion started:

A. Recruitment Planning Issues

     1. Big, Medium, Small

          A. Which model are you trying to build?  They all

             can work; but which one makes the most sense for

             you?

     2. Services

          A. What skill sets do you need to deliver the depth,

             breadth and quality of services you want to offer?

     3. Volume

          A. How much activity do you anticipate, and when?

     4. Capacity

          A. How much grow room do you already have?  When do

             you anticipate you'll reach your limit?

     5. Ongoing vs. Project

          A. Are the tasks you want help with ongoing, or

             infrequent? 

          B. Can many tasks be converted into projects?

     6. Employees vs. 3rd Parties

          A. Is it better to hire people, use independent

             contractors, or some combination of both

             approaches?

          B. Do people who help you have to be physically

             located in your office, or can they be virtual?

     7. Overhead

          A. Buildings vs. Virtual Technologies  Every expense

             should contribute to your profit.  Which expenses

             should be cut?  Which expenses should be

             increased?

     8. Training Requirements

          A. How much training will your recruits need? 

          B. What kinds of training will they need?

          C. What are the most cost efficient and effective

             ways to deliver it?

          D. Should you gear up for training, or should you

             focus your recruiting to reduce the need for

             training?

     9. Supervision/Mentoring Requirements

          A. Close supervision of transactions is mostly a

             given.  Close mentoring of marketing and sales

             efforts is typically neglected.  How prepared are

             you to mentor for success?

     10. Compensation

          A. What methods work best?  100% commission? 

             Splits?  Gulp, salaries?

     11. Employment Agreements

          A. What should be in them?

          B. Legal requirements

          C. Training requirements

          D. Performance requirements

          E. Compensation plans

          F. Can you use employment agreements to:

             Filter applicants?

             Set mutual expectations?

             Control performance?

             Control terminations?

     12. Recruitment Marketing

          A. How will you make your firm more visible to

             potential recruits?

          B. Will you rely more on direct advertising, or

             social networking, or both?

          C. What kind of recruitment communications will you

             use?

          D. Web site

          E. Individual Email

          F. Mass Email

          G. Downloadable Materials

          H. Printed Materials

          I. Webinars

          J. Seminars

          K. Office Tours

          L. Social Networking Activities

B. Recruitment Marketing

     1. Your Recruiting Value Proposition

          A. What unique values do you offer potential

             recruits?

     2. Recruiting Communications

          A. Web Site

          B. Email

          C. Email Campaigns

          D. Print

          E. Brokerage Tour

          F. Advertising

          G. Invitations

     3. When to Recruit

          A. When needed?

          B. Constantly?

C. Recruit Selection Issues

     1. Job Descriptions

          A. The clearer you get about what the job is, the

             easier it gets to ask for what you need, and to

             determine if your potential recruit can actually

             deliver it.

     2. Sales Staff

          A. Since real estate sales is mainly a relationship

             business; is your potential recruit a compulsive

             relator or not?  How many contacts in their

             database?  Do they even have a database setup to

             work from?

          B. How much knowledge, skill, experience, technology

             resources, marketing time and capital, does a

             recruit need to be successful in your

             organization?

     3. Administrative Staff

          A. What skills, knowledge, experience and

             technologies are necessary to get your jobs done

             with minimal supervision?

D. Recruit Orientation and Training Issues

     1. Do you have Orientation materials that facilitate

        quick team assimilation?

     2. Do you have functional trainings that facilitate

        consistent team work?

     3. Do you have regular communications that facilitate

        team spirit, cooperation and effort?

E. Turnover

     1. Have you itemized and analyzed your true Turnover

        Costs?

          A. Marketing time and money

          B. Interview and selection time

          C. Orientation time

          D. Fixed overheads

          E. Training time

          F. Supervision time

          G. Lost opportunities

     2. What does it really cost you every time somebody leaves?

Let the recruiting discussion begin!

    

Utah Dave certainly touched a nerve with his post, "The New Business Model in Real Estate - Good Bye Old Brokerages and Brokerage Models."

In a nutshell he said that mediocrity is on its way out, and smaller, high quality brokerages are on the rise.  More than 200 ActiveRainer Commenters enthusiastically agree with him. Many of them are already using the smaller, higher quality model and they all say that that model out produces the big mediocrity model . . . by far.

Undoubtedly their models have a great deal of variation in them; with some emphasizing one aspect, and others emphasizing different aspects.   There could still be huge, additional improvements for all, if only they could adopt each other's best practices.

Discussions relating to best practices and optimizing broker models have been going on all over ActiveRain for quite some time.   The problem is, these discussions are in pieces, and scattered all over ActiveRain. You really have to dig if you want to find all the pieces. 

Given the trauma and massive change the real estate industry is currently undergoing, best practices and broker model optimization are vital and timely discussions that should be held.  To help organize and facilitate these discussions, we've created a new Collaboration Group called "Optimizers" to:

• Give the optimized broker model discussion clearer topics and more focus
• Share best practices
• Make it easier for the best ideas and thinkers to reach the center of the discussion
• Make it easier for all participants to capture more value from the discussion

Scope of the Optimizers Collaboration

A. Marketing

     1. Agent/Broker Marketing

          A. Market Positioning

               1. Advantages and Disadvantages of:

                    A. Elites Only

                    B. Blend

                    C. Big

                    D. Small

          B. Target Marketing Strategies

               1. Most productive practices for:

               2. Sellers

               3. Buyers

               4. Past Clients

               5. Newly Mets

               6. Mets

          C. Marketing Communications

               1. Content and delivery systems for:

               a. Email

               b. Web Site

               c. Webinars

                            By the way, we've got an additional Collaboration Project going on over at Webinars R Us.

               2. Print

               3. Social Networking

     2. Listing Marketing

          A. Most effective practices for:

          1. Pricing

          2. Staging

          3. Photography

          4. Virtual Tours

          5. Agent Email

          6. Flyers

          7. Signage

          8. Tours

          9. Events

     3. Marketing Systems

          A. Most effective methods for:

          B. Lead Generation

          C. Lead Capture

          D. Lead Management

          E. Lead Follow-up

          F. Communications Production & Distribution

               1. Web

               2. Email

               3. Print

B. Financing

     1. Choosing Mortgage Financing Relationships

     2. Partnering With Mortgage Brokers

     3. What's Working, What's Not

C. Transaction Processing

     1. Vendor Selection

     2. Team Communication Methods

     3. Paperless Automation Systems

D. Business Management

     1. Technology Integration

          A. Web

               1. Company Site

               2. MLS

               3. IDX

               4. Realtor.com

               5. Others

          B. Email

               1. Domains

               2. Accounts

          C. Phone Systems

          D. PDAs

     2. Recruiting

          A. Philosophy

          B. Goals

          C. Methods

          D. Candidate Requirements

          E. Employees vs. Contractors

     3. Training

          A. On What

          B. Methods

     4. Policies, Regulations & Laws

          A. Discussions about what changes would best

             facilitate best practices and broker model

             optimization:

          B. MLSs

          C. Associations

          D. Government

               1. Local

               2. Regional

               3. State

               4. Federal

 

How to Get the Most from This Collaborative Project

1. Join "Optimizers"

• So everyone can see who is participating
• To facilitate further interaction between participants
• To facilitate Group communication and announcements

2. Participate in the discussions

• Read
• Comment
• Post your Blogs to the Optimizers Group

3. Invite more participants

• The more observations, ideas and wisdom, the better

Let's create some synergy!