broker owner meetings 10 2009
TRANSCRIPT
RE/MAX Pennsylvania & Delaware
Broker/Owners & Managers
Agenda
• State of the Region • Regional business & updates• Recruiting strategy• Lunch• Technology update• Mergers & acquisitions• Steve Murray, Editor, Real Trends• Cocktails & hors d’oeuvres
Value Proposition
“Literally, what it is the customer gets for what s/he pays. The term is also used to describe some unique value a brand, company, product or service offers that its competitors don't. Often used interchangeably with differentiation, it is one of the factors to consider when determining a marketing strategy.”
- Reid Neubert [email protected]
Demand Success Speaking Tour
Philadelphia Thursday, October 29
9:00 AMDowntown Marriott
PittsburghFriday, October 30
9:00 AMAirport Marriott
State of the Region
• Healthy Region• Agent Count• Poised for Growth• Broker Exchange• Recruiting RE/MAX Agents• Survey/business planning for 2010
Advertising Update
Brand “First what it is NOT: A brand is not a company logo. The logo is only the visual representation of the brand. What it is, is not as easy to explain.
In the end, a brand is the associations people have with the company, product or service that are beyond its real, tangible aspects. It is important to realize that the brand exists in the minds of the marketplace. From the company side, a brand is a unique promise of quality.”
Brand Equity “The amount of "juice" a brand has built up, i.e., how well-known and regarded a brand is. The more equity a brand has, the more valuable it is to the owning organization.”
Advertising Plan
National advertising• Margaret Kelly TV Ads• CMN $100 Million
Regional advertising• Eagles, Senators and University of Delaware sponsorships
continue
• 2010 plan will be similar to 2009 plans
• Drive brand-name awareness and traffic to remax.com
2009 Summer Conference - Recap
• Renewed energy and confidence
• Social networking• Recruiting and marketing to
multiple generations• Value proposition
Watch MTOD this Fall for various videos and materials from the 2009 Summer Conference
Save the Dates
2010 RE/MAX International Convention Sunday, February 28 - Wednesday, March 3Orlando World Center MarriottOrlando, FloridaOnline registration opens October 26!
2010 RE/MAX Broker/Owner ConferenceSunday, August 10 – Tuesday, August 12Hyatt Denver Convention CenterDenver, Colorado
Regional Communication
• Bulletin• PA/DE Mainstreet Page
Regional Bulletin
• New initiatives• Relevant industry and business
information• Consolidation of communication
New Industry News & Market Data• Dave Liniger’s RE/MAX Profit Lines• Real Trends Newsletter – Steve Murray• Monthly Industry Report• RE/MAX AP Housing Report
Advertising & Branding Resources• National Advertising Schedule• New From RE/MAX International
Technology• Featured Training• LeadStreet Success Story• Design Center Tip
Every Month in the Bulletin
Regional Mainstreet Page
• Important News & Events• Profitability Resources• Recruiting Resources• Office Admin’s Resources• Regional Top Producers• Technology Training• Market Share Charts
General Business
Office Administrators' Quick Reference
• Membership Profile Checklist• RE/MAX email setup• Mainstreet registration• Setting up the Associate Profile
Reporting Statistics/Commissions
Year-End Verification• 3rd Qtr verification: October bill• Year-end verification: December bill• Final Verification: January 27, 2010• Questions, contact April Runer
800-218-1564 or [email protected]
Methods of Reporting• By-hand• Excel spreadsheets• Lone Wolf reports: 2.M.8.1 & 2.M.8.2
28
Team Defined
A Sales Associate (Team Leader) and one or more licensed Individuals (Team Members) whose services are retained or secured to assist the Team in connection with the Leader’s real estate activities
AND/OR
Two or more licensed individuals working together who promote themselves as a “Team”
Licensed Assistant Defined
The Licensed Assistant primarily assists a Sales Associate by performing administrative, clerical and secretarial duties
• LA’s cannot report awardable commissions
• LA’s cannot show properties to buyers – Buyers’ Agent
• LA’s cannot consistently perform any duties that would make the public believe he/she is a RE/MAX Sales Associate
Team Structure
Team LeaderSales Associate
Team MemberSales Associate
Team MemberLicensed Assistant
NO ProductionNO Leads
NO WebsiteNO Awards
Buyer’s AgentListing AgentReceive LeadsAgent Website
Club Level Awards
$390 - Dues$120 - CFF
$106 – Ad Fund
$390 – Dues$120 - CFF
$46 – Ad Fund
Notification of Inactive Status (LOA)
• 3-month maximum• Contact the Region if longer• Reasons for LOA:
Health or Emergency Maternity Leave Military Service Active Duty
Broker/Owner Training – NEW!
• Rebuilt: content & trainers• $50 + travel to attend• Industry experts
2010 Schedule
January 18-22 April 12-16 July 12-16 October 11-15 February 15-19 May 10-14 *August 16-20 November 8-12 March 15-19 June 14-18 September 13-17 December 6-10
Broker/Owner TrainingChris SomersRE/MAX AffiliatesPhiladelphia, PA
Investor Loft
Commercial
Commercial Information Exchange• MLS for commercial listings• ONLY way to get Commercial Listings on remax.com• Basic Membership FREE
Glitz Gunner
Commercial Division
What do you get from adding a Commercial Division?• Expand your recruiting base• Diversify your business• Broaden your referral base
Does your office qualify? Contact Kevin Bair, Supervisor, Commercial Development
303-796-3919 or [email protected]
Medical Insurance & More - NEW
• Major Medical
• Limited Medical
• Critical Illness
• Accident
• Dental/Vision
• Term Life
866-783-1300 www.lockton.augeobenefits.com
FHA 203K Loan Program
RE/MAX Town Hall and www.re-buildusa.com
Franchise Agreement Changes
• Promissory Note for the Renewal Fee – 6 monthly payments
• Quota – 60% of current associates or minimum quota for market size
• If the owner passes away, the heirs may sell the franchise or close the franchise
• Late Fees reduced from 20% to 10%
Renewal Changes
• 180-day response confirming owner(s) plan(s) to renew – Intent to Renew Letter
• Business Plan required • Completed renewal 90 days priors to franchise
expiration
Recruiting
• Contact agents• Judy Ladeur and Kathy Baker Training
3-day specialized recruiting & coaching 12-month follow-up strategy $1,200 per participant Regional incentive Space is limited to first 18 to sign-up & pay
• Destination RE/MAX
Success with Recruiting TrainingJohn FordRE/MAX AssociatesHockessin, DE
Technology Agenda
Time to Reevaluate – Current Data & New Statistics
RE/MAX Technology Changes
Technology Tools You Can Use (and should)
Social Networking Tools
Recruiting & Retention with Technology
Current Data & New Stats
Remax.com Regional Statistics
YTD 2009 remax.com Statistics for the Pennsylvania and Delaware Region
Total Visitors 2,490,584
Total Unique Visitors 613,307
Listing Views 18,514,242
Unique Lead Requests 26,570
Average Page Views Per Visitor 26
• Philadelphia is the 8th most-searched city on remax.com• Of the top office handoffs from remax.com, Pennsylvania & Delaware has
more than any other region with 6 of the top 25 followed by California and Florida with 5
remax.com Monthly Unique Visitors
0
1,000,000
2,000,000
3,000,000
4,000,000
2006 2007 2008 2009
remax.com Monthly Unique Leads
0
50000
100000
150000
200000
250000
300000
2006 2007 2008 2009
Compete.com Total Visitors
Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-090
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
5,000,000
remax.com century21.com coldwellbanker.com prudential.com wiechert.com kw.com
Compete.com Unique Visitors
Aug-08 Sep-08 Oct-08 Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-090
500,000
1,000,000
1,500,000
2,000,000
2,500,000
remax.com century21.com coldwellbanker.com prudential.com Wiechert.com kw.com
Internet Buyers vs. Traditional Buyers 2009
Source: CAR 2009 Survey of California Home Buyers
20092008200720062005200420032002200120000%
10%
20%
30%
40%
50%
60%
70%
80%
90%
84%
78%
72%70%
62%
56%
45%41%
37%
28% 16%20%
28%30%
38%44%
55%59%
63%
72%
Internet Buyer Vs. Traditional Buyer
Internet Buyers Traditional Buyers
Reason for Selecting an Agent - 2007
Source: CAR 2007 Internet Vs. Traditional Buyer
Listing agent of the prop-
erty purchased
Most knowledge-
able
Agent's market area was where I wanted to
move
Best preparedOffered best deal / lowers commission
rate
Most qualifiedSeemed like the agent
would be the most aggres-
sive on my behalf
Seemed to be the most re-
sponsive
First Agent to respond to my
inquiry / quickest re-sponse time
0%
7%7%
11%
15%
21%21%
43%
47%
0%
11%
4%
12%15%
18%21%
44%43%
Most Important Reasons For Selecting An Agent
Internet Buyer Traditional Buyers
Reason for Selecting an Agent - 2009
Source: CAR 2009 Survey of California Home Buyers
First Agent to respond to my inquiry / quick-
est response time
Most qualifiedMost knowl-edgeable
Seemed able to negotiate the best possible purchase price in this type
of market
Seemed like the agent would be
the most aggres-sive on my behalf
Seemed to be the most responsive
Understood how to purchase fore-
closures sales, dis-tressed sales
3%4%
7%
21%21%23%
21%
4%5%5%
18%19%17%
32%
Most Important Reasons For Selecting An Agent
Internet Buyer Traditional Buyers
How Long Is Too Long? - 2007
Source: CAR 2007 Internet Vs. Traditional Buyer
More Than 1 Business Day
Same Day1 Business DayWithin 4 HoursWithin 2 HoursWithin 1 HourWithin 30 Minutes
Instantly
4%
15%
17%18%
3%3%
17%
22%
0%
3%3%
18%17%
16%
21%22%
Internet Buyers: Typical Response Time Expected Vs. ActualActual Expected
94% of Customers want response in 4 hours
How Long Is Too Long? - 2009
Source: CAR 2009 Survey of California Home Buyers
More Than 1 Business Day
1 Business DaySame DayWithin 4 HoursWithin 2 HoursWithin 1 HourWithin 30 Minutes
Instantly
4%
8%
16%
11%
31%
7%6%
16%
0%2%
5%
9%
17%
11%
20%
36%Internet Buyers: Typical Response Time Expected Vs. Actual
Actual Expected
84% of Customers want response in 2 hours
Agent Lead Acceptance – 2009
• Accepted by agent offered to first 46.10%• Accepted by agent after first agent 33.15%• Bounced to Broker 17.64%• Pending Acceptance 3.12%
Office Lead Distribution Settings
• Sites with single agent lead distribution 68.20%• Sites with multiple agent lead distribution 15.09%• Sites with leads going to broker 12.46%• Sites with leads going to a specific person 4.25%
The majority of offices have lead acceptance going to one agent at a time for 4 hours.
First Time Home Buyers
• Share of first time home buyers doubled from 19% in 2008 to 38% in 2009
• 42% of Internet buyers were first-time home buyers
Gen X vs. Baby Boomers
52% of Gen X found their agent online vs. 22% for Baby Boomers
14% of Baby Boomers used email to communicate with agent vs. 50% of Gen X Smart Phones! 66% of Gen X expect a response within 1 Hour
Agents Are Still Key
• 54% of Internet buyers thought the information they gathered on the Internet was less useful than that provided by their agent
Remax.com
• Redesigned in 2009• Foreclosure Search to Launch
Soon! Help Agents Prepare Now Nationwide August Statistics
Unique Visitors: 2.1 Million Listings Displayed: 4.2 Million Unique Leads: 150,665 Avg. Leads per Day: 4,860
Key Information
LeadStreet Microsites – New!
• Agent Website included at no additional charge
• Website Features IDX feed with all MLS listings
(provided through office feed) Consumer property search Consumer lead generation with all leads
assigned directly to the Agent Unique marketable domain name Customizable content Showcase listings properties One-click featured searches Add reporting code (Google analytics) Balloon View SM and Street View
• Integrated with LeadStreet
Key Information
Microsite (Example)
Office Website
Click to Call
• Click to Call Provided at no additional cost. Adds a "Connect Now" button to
agent’s listings. Creates a Click to Call lead on
LeadStreet Utilize “Page Push” to send web
pages to consumers.
Key Information
Add This
Easily allows customers to post a listing to their Facebook, MySpace or other account
More than 5,000 listings have been “tagged” using the add this button
Most common sites for bookmarking Facebook – 34% Digg – 26% Windows Live – 13% MySpace – 10% Delicious – 8% Other 9%
Average click through rate is 224%. Facebook has a click through rate of
480%
Fast Facts Report – Mainstreet
Compete.com
RE/MAX Social Networking
LeadStreet Agent Management Tool
Mainstreet Forms
Working for You
New web address is http://WorkingForYou.remax.com
Social Networking Definition
From Dictionary.com
“the use of a website to connect with people who share personal or
professional interests”
Why?• Fastest growing demographic is 35+ years old• It’s how we’re communicating as a culture• 20M people ages 15 to 20• It’s here to stay• Inbound vs. outbound marketing• Reach your clients• Education for all• It’s viral• Build your online presence
• It’s free!
Relationships
Reputation
Referrals
Which one do I use?
• What works best for you?• What are your clients using?• Each one is different
Unique Visitors
Unique Visitors to Social Networking sites
• Simple • Easy• Answers one question. What are you doing?
(in 140 characters or less)
Twitter Ideas
Post links to your listings
Post links to photos using TwitPic
also free, and can upload directly from your phone
Keep the “personal” tweets intermingled
Post industry updates
• One-stop shop
• Updates/news feeds
• Pictures
• Send messages
• Background and personal info
• Utilize applications
• 600,000 new users each day
1. Personal ProfilesFriends = Mutual Acceptance
2. Business PagesFans = One Way Acceptance
Facebook Ideas
• Post listings to your wall• Ask questions and
answer questions• Create a Business
Page or Group• More than 6 million users
become “fans” each day
• Create Events
• Open houses, buyer information seminars, etc.
AddThis on remax.com
AddThis on remax.com
• Resume-Based Model• Professional Networking• “Utilize” Your Resume and Accomplishments• Use for recruiting• Ask existing top producers in your office to give you
referrals
LinkedIn Ideas
• Average LinkedIn user is 41 and makes $109,000/year• Average user belongs to 3-4 groups, mostly
professional association groups• Ask for and give recommendations• Create discussions and generate conversation
Fun Facts
• Facebook was originally called FaceMash in 2003 at Harvard• Founder Mark Zuckerberg purchased the domain facebook.com
for $200,000 in 2005
• Microsoft owns ~2% of Facebook• Twitter is now used by law enforcement, American Red Cross to
disseminate info about disasters
• May 2009 Michael Massimino tweeted from space
• Nielsen Online claims Twitter has only a 40% retention rate• Between 2004-2005 Facebook received $40 million from venture
capital firms
Social Networking Crystal Ball
• Where have we been? In April 2008, MySpace was 73% of Social Networking usage
In April 2009, MySpace was 29% of Social Networking usage
Twitter usage grew 3712% from April 2008-2009
What should I do next?
1. Sign up and create accounts
2. Link to, follow, or join RE/MAX International
3. Lurk and Learn
4. Create your strategy
5. Jump right in and participate!
6. Cross Market yourself
Recruit & Retain withRE/MAX Technology
RE/MAX Technology Suite
Remax.com
LeadStreet
Design Center
Mainstreet
Commercial Information Exchange
Training & Support
Contact Management Database
• Receive online leads• Access customer comments
and questions• Track lead activity• Manage all contact information
online• Online backup of contacts• Import/export contacts• Print mailing labels• Included and customize email
drip campaigns• Add appointments, tasks, and
events with email reminders• Automatic listing emails• Enhance listings• Add open houses• Reports
Agent Website with Click to Call
• IDX Feed with all MLS Listings• Consumer property search• Map search, MLS search, and
advanced search• Lead generation where all
leads are assigned to you • Balloon view and street view• Add reporting code
(google analytics) • Showcase your listings or
featured properties• Create 1-click featured
searches • Unique marketable domain
name • Customizable content• Click to call with website page
push
Marketing Listing &Personal Promotion
• Virtual Tours• Newsletters• Flyers• Postcards• Professional Print Options• Email or Web Distribution• Brochures• Greeting Cards• Property Cards• Slideshow Tours• Web Commercials• CD/DVD Packaging• eCards• Article Library• Phrase Assistant• Image Assistant• Hosting with Detailed Statistics• Virtual Tour Posting
Other Tools and Features
• No Referral Fee for Online Leads
• RE/MAX University Training• On-Demand• Webinars• Designations• Live Events
• Technical Support for RE/MAX Technology Tools
• Commercial Listings through the RE/MAX Commercial Information Exchange and Catylist™
• [email protected] Marketable Email
• Online Intranet to get industry information and connect with Affiliates worldwide.
• Social Networking sites and initiatives • YouTube• Facebook• Twitter• LinkedIn
Avg. Non-RE/MAX Cost: $540
RE/MAX LeadStreet Included
Avg. Non-RE/MAX Cost:* $499
RE/MAX Design Center Included
Avg. Non-RE/MAX Cost: $440
RE/MAX Agent Microsites Included
The average Real Estate Professional spends $1,480 per year on online marketing.
With RE/MAX, all tools, training, and support listed, are included at no additional cost!
The Value of RE/MAX Technology
Training & Support
• Training Regional Trainer – Corrie Ammon In-office/in-Region training Webinar training Online eLearning modules On demand training - to go!
• Support 24-hour hotline for “How-To” questions eCare email support technical questions: [email protected] Guides and documentation
Key Information
Corrie AmmoneBusiness Technology Trainer
Pennsylvania and Delaware Region
Corrie AmmoneBusiness Technology TrainerPennsylvania and Delaware [email protected]
Mergers & Acquisitions