Brokers Reveal Which Tools and Strategies Yield Results at RISMedia Forum
Building strong relationships with clients and prospects is priority one for any good real estate professional. But in today’s digital world, making real connections with consumers has become complicated and often elusive.
This topic was explored in detail during RISMedia’s Power Broker Forum at the National Association of REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. this past May. Co-moderated by RISMedia Founder, President and CEO John Featherston and NM Management Inc./CENTURY 21 New Millennium Founder and CEO Todd Hetherington, the panel featured: Scott MacDonald, broker, owner and president, RE/MAX Gateway; Matthew O’Connor, COO, Terrie O’Connor REALTORS®; Burke Smith, chief development and learning officer, Realty ONE Group; and Verl Workman, founder and CEO, Workman Success Systems.
As the panel agreed, today’s consumers are more sophisticated than ever before and it’s incumbent upon real estate professionals to keep pace with modern methods of engagement. “My perspective has changed through the years,” said Hetherington. “My oldest daughter is one our newest licensees. Her perspective as a 27-year-old is different from mine as a 53-year-old.”
In striving for consumer engagement, MacDonald stressed that it’s critical to begin with the end in mind. “You have to have a plan of action and know what you’re trying to accomplish,” he advised. “Have a plan, then implement the plan so you’re not doing things randomly, but on purpose.”
“We have to be intentional about our connection as opposed to being accidental,” agreed Workman. “Agents are quick to spend money but don’t actually measure the results. I want to know that I’m getting a minimum of six times return on my investment. If I can’t quantify it, it’s just noise to me.”
“You can’t save your way into profitability but you can spend yourself into oblivion,” said O’Connor. “There are so many ways to spend money and so many things sound good and appealing, but how many of our agents have significant negative ROI? We need to help our agents measure that.”
When it comes to social media and marketing campaigns, Smith advised keeping the 40/40/20 rule top of mind: 40 percent of your success involves knowing and targeting your audience; 40 percent will be based on the value of your message; and 20 percent will be the look and feel of your message. “The days of figuring out whether you can get dogs and sunsets in the same picture are over,” he added.
It’s All About the System
Whether it’s Facebook, YouTube or an automated content program, panelists agreed that no platform or tool by itself is a silver bullet for generating business. “It’s not as much about the source,” said Workman, “as it is about the system and process you have in place to convert leads.”
O’Connor has focused on putting just such a system in place at the brokerage level. “Last year, I started automating to social media every new listing, every sale, and every open house, tagging the agent throughout. That immediately became the No. 1 traffic source to our website. …read more
From:: Real Estate News