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An exploration of whats happening in real estate agency in Australia
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Clients ! Inman Connect – USA – Ambassador
! Ray White. Corporate and individual franchises
! LJ Hooker New Zealand. Corp and franchises
! REIV. Trainer and Events
! REINSW. Trainer and Events
! REIQ. Trainer and Events
! Clubs Queensland. Trainer -‐ Events
! NaJonal Speakers AssociaJon. Speaker
! Trade Union Club of New South Wales. Tradies -‐ Staff Trainer and MarkeJng
! Pacific Hoists. Online Strategy.
Areas of support
! Trends analysis
! MarkeJng Think Tanks
! Behavior analysis
! Online Strategy and ImplementaJon processes
! Product review
! Strategic alliances
! Management and team coaching
! ImplemenJng Change
58/31
How well are You communica/ng?
Are you speaking their language?
Franchisor to Prospects?
Franchisor to Offices?
Offices to Teams?
Offices/Teams to Consumers?
Are you really relevant?
50% of the worlds populaJon is under 30
How well is our industry dealing with ‘Change’
..“We can’t rely on the things that got us this far to get us to through the next stage”..
..’Its what the girl does when she’s finished her real work”…
.** .” As we conJnue to invest in our businesses future, we believe the best place to be is at the intersecJon of innovaJon and technology “…
** Old stuff sJll works! Just be sure to test and measure that it actually does.
How well are you fuelling your machine?
! Inman Conference and NYC Real Estate Study Tour ! Sponsored by REIV REIQ REISA REIWA Training Depts ! Tour Leader -‐ Me ! Jan 25 – Feb 3 2015 ! Real Estate Tech Conference ! Visit 4 offices in NYC and Washington ! Visit New York Times Office ! Network with other tech and innovaJon minded peeps ! Or just go visit 3 really great Pros every year.
! #jfdi
• *Bevan 2000
All my friends are dead
2014 Real Estate Industry Behavioral Trends Report
Factual and Anecdotal Study
-‐USA, Australia, NZ
-‐October 2014
-‐Franchises, REI’s, Independents, Agents, Salespeople, Admins, Sellers, Buyers, Tenants, Investors.
Interim findings
! Age of industry entrants
! EducaJonal levels of new entrants
! Premises
! MarkeJng
! RelaJonship Management
! Consumers are confused at how/why we do business
Survey
! Please rank the three most important challenges facing your business today from the list provided below:
! Keeping consumers informed and up-‐to-‐date
! Rising costs of operaJng the business
! Keeping up-‐to-‐date with new technology for connecJng with customers
! Staffing: retenJon and recruitment demands
! Understanding and using technology within our business effecJvely
! The emergence of new business models within the industry (eg. BouJque agencies)
Survey
! Are you considering making any significant changes to the way you conduct your business in the near future?
! Yes, I am definitely implemenJng some significant changes in the near future
! Possibly, I am currently considering my opJons
! No, it’s business as usual for us
! *Share examples please
Survey
! If the lease for your business premises was to require renewal for a further 3-‐5 years today, how likely would you be to commit to a further 3-‐5 year period?
! I/we would definitely renew the lease on our premises without quesJon
! We would probably renew the lease on the premises, but we would debate the pros and cons beforehand
! We would possibly not renew the lease
! We would definitely not renew the lease
*Assume not owned personally or smsf
Survey
! Where do your sales leads come from? Please tell us, from the following list, which are the three most important sources for genera/ng sales leads. Only rank the top three most important channels.
! Online real estate portals (eg realestate.com.au, domain.com.au)
! Agency websites eg. Ljhooker.com, raywhite.com professionals.com.au )
! Shopfront
! City Newspaper real estate secJons – eg. The Age, The Courier Mail, The Sydney Morning Herald
! Local/Regional Newspaper real estate secJons
! For Sale Signs
! Direct markeJng: eg. lener box drops/pamphlets in lenerboxes
! Personally managed database (Q: does this mean by individual reps or business as a whole?)
Survey
! Does your business use a CRM system to manage and maintain rela/onships with past and current clients?
! Yes
! No
! If a) to above, ask:
! Please indicate how strongly you agree with the following statements:
! My reps and I diligently use our CRM system to manage and maintain our business relaJonships
! I believe there is scope for my business to use our CRM system bener
! We have a CRM system but we don’t use it very much
! Our CRM system needs to be improved or modified in order to serve our business bener
Survey
! How much /me do you spend prospec/ng for staff each week? Please select the answer that most accurately reflects your situa/on, if you were to average it out over the course of a week.
! Less than 3 hours
! Between half a day and a full day each week
! More than a day each week
Survey
! What would you do if you knew that inside 12 months that your most dominant compe/tor was going to go 100% digital?...
! 1. Ignore it. We have a winning formula now
! 2. We’re already highly digital (explain how)
! 3. Engage a strategist to move first and trump them
Profile of Australasian Agent 2000-‐2010
! 10 years or more of service = + or –You. 200 Mgmts. 2 Salespeople. Sells a few. Owns Bldg. Partner is PM/Bookkeeper. Age 55-‐65. Small mortgage. Loyal to brand.
! Research notes ! *One major franchise has started another brand to rebrand their 10
years + veterans to open up poorly serviced trade areas.
! Average age for enrollments in licensing courses has dropped
! Second and third gens are ramping up the customer service, tech, markeJng and sales/mgmt volumes.
Profile of Australasian Agent 2012+
! 32+ -‐ Either Gender – Uni Degree in MarkeJng and or business management. Private financial backing. Strong social connecJons online. Savvy to online markeJng. Not as familiar with print. Ruthless business and people decisions re costs.
! High Invest in self educaJon. Low tolerance to BS.
! First 5 years associated to franchise, then self branded.
! Not confined to geography. Believe in the ‘People’ business
! Informal work spaces. Flexible work-‐life balance.
! Highly mobile. Use smart devices as natural extensions.
New players tools
! Dedicated to databases and relevant data comms
! Research and use Big Data
! Web and behavioral savvy to tech ! -‐Proficient in Mobile devices and the Cloud
! -‐Pop-‐up sites and targeted campaigns
! Challenge ‘the norm’
! Social media relaJonship savvy.
Hear it Direct
! Half Day Consumer Panels – Live audience ! -‐6 Buyers ! -‐6 Sellers
Feedback Want relevant info, not spam Want to see videos including the neighborhood They don’t want to be your friend They don’t care about your awards They want a professional connecBon. Sincerity. They want to know you care. They want you to explain the process They want to be listened to (and heard) They only use you because they believe they have to.. (for the moment)… They
believe tech will change that in Bme. Strongly quesBoning our fee/Value
Recruitment
! USA
! Larger firms (20+) are .75 -‐ 1 day p/wk prospecJng for staff. Its straight numbers for them.
! Build Database of cold to hot prospects ! -‐Email campaigns (Build RelaJonships and recognize orphans) ! -‐Community and Club events ! -‐Social media interacJons ! RecruiJng on ‘shared values’. <<< Huge!
! *Happy Grasshopper
Technology
! Move to the Cloud for speed, cost, accessibility, maintenance
! AdopJng mobile devices for all team
! Moving to Paperless for cost
! ‘One best way’ for office technology soluJons
! Use of Google soluJons
! Designated tech/data officer
Marketing
! TesJng and measuring every form of markeJng
! Researching Big Data and moving before and with trends
! Having a clearly idenJfiable #POD. Far beyond ‘Average’
! Magnificent markeJng presentaJon and or person to present
! InvesJng FAR beyond the franchise online offering. ! -‐ Lead gen sites.
-‐Dedicated CRM plan and person -‐ Online ads eg: FB and Google retargeJng -‐ Salesperson sites. -‐ Video-‐ Video –Video -‐ Strategic social engagement
How well are you fuelling your machine?
! Inman Conference and NYC Real Estate Study Tour ! Sponsored by REIV REIQ REISA REIWA Training Depts
! Tour Leader -‐ Me
! Jan 25 – Feb 3 2015
! Real Estate Tech Conference
! Visit 4 offices in NYC and Washington
! Visit New York Times Office
! Network with other tech and innovaJon minded peeps