What if Tomorrow is Radically Different than Today?

LESSONS IN DATA-DRIVEN STRATEGIC PLANNING BCREA Journey of Discovery

Banff Western Connection 2015#BWC2015

Adam Lerner, @ADAMLERSolvable, @SOLVABLE | http://SOLVABLE.COlinkedin.com/in/ADAMLER

29 JANUARY 2015

What if Tomorrow is Radically Different than Today?

Insights from BCREA’s Journey of Discovery

LEAP OF FAITH #1

Insights from BCREA’s Journey of Discovery

TODAYTOMORROW.....

Insights from BCREA’s Journey of Discovery

Does your Board/Association conduct member (REALTOR®) research annually?

Insights from BCREA’s Journey of Discovery

Does your Board/Association conduct Consumer (Buyer/Seller) research annually?

Insights from BCREA’s Journey of Discovery

LEAP OF FAITH #2

Insights from BCREA’s Journey of Discovery

RESEARCH STRATEGYVA

LUE

Insights from BCREA’s Journey of Discovery

RESEARCH STRATEGY

Insights from BCREA’s Journey of Discovery

Has the research of your Board/Association transformed the products and services you offer?

Insights from BCREA’s Journey of Discovery

A TALE OF A12–MONTH JOURNEY OF DISCOVERY

Insights from BCREA’s Journey of Discovery

WHAT WILL THE PRACTICE OF THE REALTOR® LOOK LIKE IN FIVE YEARS?

Insights from BCREA’s Journey of Discovery

Buyers & Sellers REALTORS® Brokers

Industry Experts Regulator

Research Audiences

Insights from BCREA’s Journey of Discovery

BCREA Board of Directors

Member Board

Leadership

Journey of Discovery Task Force

REALTOR® Advisory Panel

In Consultation With...

BCREA Staff

Robert LaingMelinda EntwistleDamian StathonikosDeb Nelson

Our Consulting Team

Charles Holmes Monique Morden

Insights from BCREA’s Journey of Discovery

Research, Engagement

Task Force & JOD Research

Team Formation

Future of the REALTOR®

Maestro Conference

Real Estate Transaction View Report

Extraordinary Moments

Facebook Launch

Secondary Research Report

Expert IDI & Regulator In-

Depth Interview Reports

BCREA AGM Presentation

Fall2013

December2013

January2014

February2014

February2014

March2014

April2014

May2014

May2014

May2014

June2014

June2014

July2014

August2014

July2014

REALTOR® Corner (4)

(January–March, 2014)

Insights from BCREA’s Journey of Discovery

WHAT CAN BCREA DO TO ADVANCE A MORE SUSTAINABLE AND THRIVING INDUSTRY FOR BCREALTORS®, BROKERS & ORE?

Insights from BCREA’s Journey of Discovery

JOURNEY OF DISCOVERY

Fall2013

December2013

January2014

February2014

February2014

March2014

April2014

May2014

May2014

May2014

June2014

June2014

July2014

August2014

July2014

Task Force & JOD Research

Team Formation

REALTOR® Corner (4)

(January–March, 2014)

Future of the REALTOR®

Maestro Conference

Whistler Leadership Days

Presentation

Real Estate Transaction View Report

Extraordinary Moments

Facebook Launch

Secondary Research Report

VIREB Managing Brokers

Presentation

Forces of Industry Change

Reports (5)(May–July, 2014)

Forces of Industry Change

Webinars (3)(June–July, 2014)

JOD Research Summary

Report

Expert IDI & Regulator In-

Depth Interview Reports

BCREA AGM Presentation

Disruptive Change Report

Strategic Options Report and

Presentation

*

BCREA LEADERSHIP DAYSJOURNEY OF DISCOVERYUPDATE29 MAY 2014

*Strategic Planning Sessions

(September 2014)

Research, Engagement, Strategy

Insights from BCREA’s Journey of Discovery

Consumer Insights

Insights from BCREA’s Journey of Discovery

REALTOR® Engagement

Insights from BCREA’s Journey of Discovery

REALTOR® Engagement

Insights from BCREA’s Journey of Discovery

Board Leadership Engagement

Insights from BCREA’s Journey of Discovery

Board Leadership Engagement

Insights from BCREA’s Journey of Discovery

1. CONSUMER AUTONOMY

2. REALTOR® PROFESSIONALISM

3. REALTOR® MATCH

4. RURAL & URBAN

5. SERVICE INNOVATION

Forces of Industry Change

Insights from BCREA’s Journey of Discovery

Industry Factors

Translating Research to Strategy

9 consumer and market factors that

BCREA may contribute to, but does not

control the destiny of

Insights from BCREA’s Journey of Discovery

Industry Factors

Strategic Categories

4 areas of strategic focus over the next five years

Translating Research to Strategy

Insights from BCREA’s Journey of Discovery

Strategic Options

Strategic Categories

Industry Factors

10 initiatives that support the strategic

focus areas

Translating Research to Strategy

Insights from BCREA’s Journey of Discovery

1. BC MLS®2. CONSUMER EXPECTATIONS3. NUMBER OF BC REALTORS®4. REALTOR® REPUTATION5. REALTOR® VALUE PROPOSITION6. REGULATION7. SIGNIFICANCE OF BROKERAGES8. STRUCTURE OF BC ORE9. TECHNOLOGY

Nine Industry Factors

Insights from BCREA’s Journey of Discovery

1. STRENGTHENING PROFESSIONALISM

2. IMPROVING REPUTATION

3. ENHANCING CUSTOMER EXPERIENCE

4. ENCOURAGING INNOVATION

Four Strategic Categories

Insights from BCREA’s Journey of Discovery

BC ORE: A CLEAN SLATE

And One More...

Insights from BCREA’s Journey of Discovery

CATEGORY 1: STRENGTHENING PROFESSIONALISM• REALTOR® ACCREDITATION• QUALITY ASSURANCE• EDUCATING THE NEXT GENERATION OF LEADERS

CATEGORY 2: IMPROVING REPUTATION• ADVOCACY• MATCHING REALTORS® & CONSUMERS• REALTOR® BRAND APPEAL

CATEGORY 3: ENHANCING CUSTOMER EXPERIENCE• CREATING EXTRAORDINARY CUSTOMER EXPERIENCES• CENTRAL RESEARCH SOURCE

CATEGORY 4: ENCOURAGING INNOVATION• TECHNOLOGY EVALUATION• NEW TECHNOLOGY INVESTMENT

10 Strategic Options

Insights from BCREA’s Journey of Discovery

HOW WILL ORGANIZED REAL ESTATE ENSURE THE CONTINUED VALUE OF THE REALTOR®?

Insights from BCREA’s Journey of Discovery

Image Credit: Innovation by Boegh, used under Creative Commons Attribution-ShareAlike 2.0 Generic

Insights from BCREA’s Journey of Discovery

Image Credit: NASA Rocket Experiment Finds the Universe Brighter Than We Thought by NASA Goddard Space Flight Centre, used under Creative Commons Attribution 2.0 Generic

Insights from BCREA’s Journey of Discovery

Image Credit: Crossroads: Success or Failure by StockMonkeys.com under CC Attribution 2.0 Generic

Insights from BCREA’s Journey of Discovery

Image Credit: Indiana Jones & the Last Crusade, http://youtu.be/xFntFdEGgws?t=17s

Insights from BCREA’s Journey of Discovery

Image Credit: Indiana Jones & the Last Crusade, http://youtu.be/xFntFdEGgws?t=17s

Insights from BCREA’s Journey of Discovery

Thank You.

Journey of Discovery, http://web.bcrea.bc.ca/jod/index.htm

Adam Lerner, @ADAMLERSolvable, @SOLVABLE | http://SOLVABLE.COlinkedin.com/in/ADAMLER