I Never Finish Anyt...: Taking Control of Your Real Estate Marketing and Technology
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Marketing and technology can be a boon to real estate agents and brokers, but it can also destroy their businesses. What's more, the state of real estate marketing leaves much to be desired. We need to take a fresh look at how to focus our efforts, in both marketing and technology, to better serve our clients, and in turn become more productive in our businesses. This was presented at the Who's Who in Luxury Real Estate Conference in April 2014. Aman is Director of Marketing at Red Oak Realty, a residential real estate brokerage in Oakland and Berkeley in the San Francisco East Bay.
![MOTIVATION
True luxury supports the life
[luxury consumers] want to live.*
Cara David, American Express Publishing
They dont buy big purchases because theyre expensive
Birthday
Anniversary
Marriage
New child
*Luxury Daily](https://image.slidesharecdn.com/amandaroredoaklre04-14-140506174559-phpapp02/85/I-Never-Finish-Anyt-Taking-Control-of-Your-Real-Estate-Marketing-and-Technology-25-320.jpg)
![DATA-DRIVEN DECISION MAKING (DDDM)
We run the company by questions, not by answers.
Innovation is not something that I just wake up one day and say
'I want to innovate.' I think you get better [innovation] if you ask
it as a question. Eric Schmidt, Google Chairman](https://image.slidesharecdn.com/amandaroredoaklre04-14-140506174559-phpapp02/85/I-Never-Finish-Anyt-Taking-Control-of-Your-Real-Estate-Marketing-and-Technology-31-320.jpg)
I Never Finish Anyt...: Taking Control of Your Real Estate Marketing and Technology
- 1. Taking Control of Marketing and Technology AMAN DARO Director of Marketing and Business Development Red Oak Realty Oakland-Berkeley, CA
- 2. REALTORS ARE SUFFERING US worker productivity has increased 35% since 1999, but for Realtors it has fallen 30% SOURCE: NAR Member Profile Study, 2013 and Bureau of Labor Statistics, 2013 35% -30% -40% -30% -20% -10% 0% 10% 20% 30% 40% US WORKERS REALTORS
- 4. MARKETING: REALTORS ACHILLES HEEL 75% of $100K+ agents spend 10+ hours/week on marketing 42% of $200K+ agents spend $20K+/yr on marketing SOURCE: InmanNext Study, 2012
- 5. TECHNOLOGY: REALTORS ACHILLES HEEL 42% - Keeping up with technology will be a challenge in the coming years* 57% - Learn about technology from colleagues** Clients are more tech-savvy*** 90% of home buyers search online during their home buying process 89% of home buyers used a mobile search engine 68% of home buyers used a mobile application 61% of American adults own a smartphone**** * NAR Member Profile Study, 2013 ** Realtor Technology Survey, 2013 *** NAR Buyer-Seller Profile, 2013 **** Nielsen, 2013
- 7. 1. TECHNOLOGY WILL DESTROY US ALL Life is really simple, but we insist on making it complicated. Confucius
- 10. EYES ON THE PRIZE GOAL = PRODUCTIVITY Technology considered a silver bullet. It is not. Only fix systems that are broken.
- 11. A. THE BEST WAY TO TAKE NOTES
- 12. A. THE BEST WAY TO TAKE NOTES
- 13. A. THE BEST WAY TO TAKE NOTES
- 14. B. STAY ORGANIZED INBOX ZERO Process when the email arrives + Notepad + Calendar
- 15. C. MINIMIZE YOUR PASSWORDS
- 16. 2. KNOW YOUR AUDIENCE Luxury must be comfortable. Otherwise it is not luxury. Coco Chanel
- 17. HOW DO YOU DEFINE LUXURY?
- 18. HOW THE BAY AREA DEFINES LUXURY
- 20. WEALTH IS A NEW EXPERIENCE FOR MOST American Express/HarrisonGroup
- 21. CHILDREN OF THE MIDDLE CLASS American Express/HarrisonGroup
- 22. MIDDLE CLASS MINDSETS PERSIST American Express/HarrisonGroup
- 24. THE MEANING OF WEALTH 91%: Wealth allows me freedom of choice in my life 84%: Wealth allows me to support my family 80%: Wealth is a reward for hard work 74%: Wealth allows me to give to charity 73%: Wealth allows me to get the highest quality products 67%: Wealth is a sign of success 67%: Wealth makes me happy Barclays/Ledbury
- 25. MOTIVATION True luxury supports the life [luxury consumers] want to live.* Cara David, American Express Publishing They dont buy big purchases because theyre expensive Birthday Anniversary Marriage New child *Luxury Daily
- 26. BUT ENOUGH ABOUT ME WHAT DO YOU THINK OF MY DRESS?
- 27. WHY SHOULD THEY CARE? Not a litany of features End-user benefits Feelings of trust and joy Information as knowledge leader Stats and comps Holistic investment strategy Honest advisor no matter how it benefits you See them as a person first, not a dollar sign
- 28. 3. LEARN WHAT WORKS In God we trust. All others bring data. W. Edwards Deming
- 29. WHAT WORKS? Google SEO? Yelp? Zillow? Trulia? TV? Newspaper? Billboards? Car magnets? Matchbook covers? Bing advertising? Adwords? Little league sponsorship? PTA sponsorship? Newsletter? Client parties? Direct mail?
- 30. REALTORS Most important methods of generating leads 1. Referrals (50% of business) 2. Repeat business 3. Internet Best marketing software for generating leads 1. Dont know 2. Trulia 3. Zillow 4. Personal website 5. Realtor.com SOURCE: Realtor Technology Survey, 2013
- 31. DATA-DRIVEN DECISION MAKING (DDDM) We run the company by questions, not by answers. Innovation is not something that I just wake up one day and say 'I want to innovate.' I think you get better [innovation] if you ask it as a question. Eric Schmidt, Google Chairman
- 32. WHAT GENERATES THE MOST BUSINESS? Where do my deals come from? Where do my leads come from? What is the most effective use of my marketing budget? Return on Investment (ROI) analysis MARKETING COST / GROSS INCOME = ROI
- 34. RED OAK LEADS BY SOURCE 35% 41% 36% 36% 23% 34% 25% 25% 25% 0% 7% 1% 4% 3% 4% 0% 0% 0% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2013 2014 THRU 3/19 TOTAL MISC. SFGATE WALK-IN CALL REALTOR.COM TRULIA ZILLOW ROR.COM
- 35. RED OAK ROI TRULIA ZILLOW ROR.COM CALL TOTAL
- 36. CONTINUED OPTIMIZATION Take a best guess on an effective marketing vehicle Test Repeat
- 38. 3. BE BRAVE ENOUGH TO BE UNIQUE Startle me. Anonymous advertising creative director
- 40. THE STATE OF REALTOR MARKETING
- 41. IF YOURE NOT SAYING SOMETHING, YOURE SAYING NOTHING Realtors are a commodity Luckily the bar is low! Clarify your message How will you make people feel? Why should they care? Consistency and relevancy
- 42. AND THEN THERES THIS View this video by Maggie Kent of CORE NYC
- 43. BRAND PERSONA AUTHENTIC PASSION FOR REAL ESTATE
- 44. MARKETING STRATEGY Who are you talking to? What do they think? What is your single minded proposition? What is your reason to believe?
- 45. MARKETING STRATEGY WHO ARE YOU TALKING TO? MW25-40, HHI $100K+ who are in a committed relationship/married. They are either about to have or have just had children. They live in San Francisco, most likely work in technology and are interested in buying a home. WHAT DO THEY THINK? We like living in San Francisco, but we cant afford to buy a home here and/or we want to raise our children in a more kid- friendly environment. The East Bay is cool its the Brooklyn of the Bay Area but we dont want to give up a lifestyle we enjoy. SINGLE MINDED PROPOSITION Imagine a better life in the East Bay. REASON TO BELIEVE The East Bay has more to offer than San Francisco: There is a long list of new and innovative restaurants and bars opening across the city Homes are, on average, larger and 60% less expensive than those in SF There are many walkable neighborhoods More outdoor options, from local to national parks There is a great art community You can have the joys of San Francisco without sacrifice
- 46. CLICK HERE TO WATCH RED OAKS VIDEO
- 47. 5. TECHNOLOGY WILL SAVE US ALL Any sufficiently advanced technology is indistinguishable from magic. Arthur C. Clarke
- 48. HOW DO I SEND BIG FILES? Website Right click on desktop
- 49. WHAT DO I NEED ON MY MOBILE DEVICE? ZipForm Mobile Web Edition ($12.99/yr) DocuSign Acrobat Reader to mark up PDFs Zillow for mortgage calculator ORTouch for tax records ChicagoAgent 2.0 for closing cost estimation Online transaction management system like Reesio
- 50. HOW DO I KEEP MY CLIENT UPDATED IN REAL TIME?
- 51. HOW DO I WORK WITH CLIENTS REMOTELY?
- 52. HOW DO I STAY ORGANIZED? CRM in Gmail To-do apps are particularly valuable for teams Real estate-specific CRM
- 53. IS A WEBSITE NECESSARY? Yes. But you need a modern one. Responsive (mobile-enabled) IDX Easy to update www.teamhardison.com
- 54. GET OUT OF THE WAY The more youre involved, the less likely it will get done It doesnt have to be perfect
- 55. IN SUMMARY Explore new technology selectively If it aint broke, dont fix it Define your audience Know what drives them and market to that emotional benefit Advertise, track, change, repeat Data, not your gut, determine your most effective marketing tactic Have a unique voice Define your strategy and stick with it Get out of the way
- 56. THOUGHTS? CHALLENGES? SAN FRANCISCO EAST BAY REFERRALS? AMAN DARO RED OAK REALTY aman@redoakrealty.com www.redoakrealty.com