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5 Ways to Greater Profitability Presented by: Nick Bailey Vice President, Business Strategy Market Leader, Inc.
21

5 Ways to Greater Profitability

Jan 19, 2015

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Real Estate

Jessica Grimes

RE/MAX Southwest FALL RETREAT for Brokers/Owners and Managers
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Page 1: 5 Ways to Greater Profitability

5 Ways to Greater Profitability

Presented by:Nick BaileyVice President, Business StrategyMarket Leader, Inc.

Page 2: 5 Ways to Greater Profitability

#1Understand Today’s

Consumer

Page 3: 5 Ways to Greater Profitability

In 2004, Sellers Primarily Used Realtors

Today, Sellers Consult Realtors & Internet Equally

Page 4: 5 Ways to Greater Profitability

91 in 2004 21 sites in 2012

But Using 77% Fewer Sites Than in 2004

Page 7: 5 Ways to Greater Profitability

YET, Consumers Are Spending LESS TIME Researching & Selecting An Agent

15+ Months of Research …

Page 8: 5 Ways to Greater Profitability

1 DayResearching

Agents

458 DaysResearching

Homes

63% of Consumers Interview & Select an Agent in Less Than One Day

Page 9: 5 Ways to Greater Profitability

66% of Consumers Select First Agent Interviewed

AND Repeat Home Buyers & Sellers Select An Agent 4X Faster Than Average

Page 10: 5 Ways to Greater Profitability

#2Respond FIRST…or at least

just respond

Page 11: 5 Ways to Greater Profitability

Responses

• Expected response time– 15 minutes

• NO response – 43%

• Respond within 30 mins– 11%

• Responses in 6 mos– 1.2 x

Source: Real Trends 2012 Online Performance Study

Page 12: 5 Ways to Greater Profitability

#3Generate leads for your

agents…and profit from it!

Page 13: 5 Ways to Greater Profitability

Profit from Leads

• Determine lead quantity– Recruiting & retention needs– Use lead calculator

• How to pay & profit– Monthly flat fee– Referral fee upon closing = $$$$$

• You control distribution• User Agreement

Page 14: 5 Ways to Greater Profitability

Agent Agreement

Page 15: 5 Ways to Greater Profitability

#4Teach your agents how to

make the most of every lead

Page 16: 5 Ways to Greater Profitability

Online leads are different

Page 17: 5 Ways to Greater Profitability

Use a powerful CRM & email marketing solution

with mobile access so you can respond FIRST.

Stay In Touch Over 12-18 months

Page 18: 5 Ways to Greater Profitability

Nurture & Engage

Tip: Have agents position website data as an excuse to reach out, “I was thinking about you today and this neighborhood popped into my head…” That way you are not coming across as “spying” on them but providing value.

–Mandy Becker, Broker/Owner, RE/MAX Southern Shores

Page 19: 5 Ways to Greater Profitability

#5Office marketing tactics

Page 21: 5 Ways to Greater Profitability

www.marketleader.com/remax

Nick BaileyVice President, Business StrategyMarket Leader, Inc.