702.604.7739 - http://www.ballengrouphomes.com - Las Vegas Real Estate Agent
My take-aways from Hear It Direct in Southern California
by Lori Ballen
Lori Ballen and Sue Adler at Hear it Direct
Hear it Direct by Sue Adler is a conference for Real Estate Professionals that features consumer panels of buyers and sellers who have completed the process or are in the process. It's an opportunity for us to hear directly from the consumer.
I took my entire Las Vegas Real Estate team to California to experience this amazing conference.
We opened with a session that covered Running a Real Estate practice as a business. This is not new to those of us that are with Keller Williams, but it's important to never forget.
We should be running our businesses with these things in mind.
- A Core Vision must be established - The leader (whether this be the Brokerage, the Leadership Team, the Rainmaker of a Mega Agent Team etc.) must lay thick layers of value guided by a shared vision.
- Shared Values. Our Values really are our true brand.
- It's up to the Leader to define, measure, and manage to the band. Things that don't get measured, don't get managed.
- Every Brokerage, Every "TEAM" has a culture. We need to determine in advance what that is or it will be decided for us by our actions.
- Get LOCAL. It matters.
The Distressed Panel (Short Sales)
- How they found their agents.
- One got his agent from a list his attorney provided
- One was suggested by his father
- One used a co-workers friend
- One came from an open house (he bought AND sold through that agent)
- And the other came from friend.
- No internet. Interesting. (Most of my distressed sellers come from the internet)
- What the Distressed Panel had to say
- They would rather be overly informed and annoyed by too much information than not have enough.
- They would like MORE information about the process - including the fact that a Short Sale is not short.
- They liked when they were held back from making stupid decisions.
- They would like to have detailed information such as timelines at each step in the process.
- They all wanted proof of distressed property experience.
- They wanted the agent to know more than them about the process
- They liked when the agent had "specialty" relationships with the banks and bank reps
- They never want false promises
- They would like to be updated no less than once a week
- They want news as soon as WE get news. They like when we say things like "I just spoke to the bank 20 minutes and go found out_________" React quickly.
- Marketing the property was still important to them.
- They want the agent to QUANTIFY what they have done including statistics.
The BUYER Panel
- Many found their agents through Open Houses
- All the buyer used Zillow and www.Redfin.com and a couple used Zip Realty
- They were generally willing to stay with an agent they had a relationship with rather than switch even when things were not great.
- They ALL want more communication
- They ALL want better follow up
- Many did not like or use the emailed listings. They wanted more "personal" approaches such as... "I found this property for you and I think you will like it because_________________"
- Most used phone apps
- A Buyer on a phone app is 6 times more likely to request actual communication
GEN Y PANEL
- Most felt Real Estate Agents were not needed and will be extinct in the near future
- Most found their agents through their parents
- They want agents to communicate in THEIR preferred form of communication such as text/email
- None used Facebook
- All used the web and phone apps
- All used zillow & www.redfin.com
- They did not like the "generic" listing emails.
- They don't believe we listen to them
- They want CONTROL
- They feel we are hiding something and generally don't trust us
- They view us as sales people, not as professionals.
- They ALL Said if a presentation was made, they may have agreed to exclusive buyer agreements if the value was presented.
- NONE of them read online reviews.
- They prefer LinkedIn reviews over any others
- They feel they have to "spoon feed" their agents information as they are so tech savvy, they have the info before their agents do.
- They like personalized NOTE pads for Marketing pieces or TOTE bags (especially luxury)
- They want hand holding. They ask for it.
- They want more information about the process
- Most were happy with the process
- When asked what their agent could have done better, a couple said "Told me to lower the price and provide market data to back that up"
- Staging Matters
- They want their agents Tech Savvy
- What was important to them: Expertise, Marketing, Honesty, Knowledge of the area and the business, successful - but not TOO busy for their listing, Sophistication
- Most used Zillow Estimates to look up their homes value
- Every seller bragged about reducing the agents commission
The afternoon allowed us to be more interactive in individual masterminds based on the various panels. Each room was hosted by industry experts and allowed for high minded conversation.
I would highly recommend this panel to anyone in the business regarding real estate transactions.
Additional Information on Hear It Direct:
Lori Ballen -
In an effort to Open minds, Increase Production, Enhance Lives, and Inspire Souls
**About the Author – Lori Ballen is Mega Agent with Keller Williams Realty Las Vegas who has been building since May of 2011 where she has taken her team (The Ballen Group) from 2 (she and her husband) to 14 at the time of this article. She uses the MREA (Millionaire Real Estate Agent) models as an operations manual and believes in “Standing on the shoulders of giants” which is why this series was created. Lori Ballen can be reached at http://www.LoriBallen.Com or by e-mail at http://loriballen.ballengrouphomes.com/contact/ – on Facebook at www.facebook.com/lori.ballen – on Twitter at www.Twitter.com/ballengroup or by phone at 702-435-6400