CyberSpace Radio/TV

"Mine Dollars with Customer Database Magic!"

8/1/03 Interview with Dirk Zeller

Real Estate Champions
5 NW Hawthorne Avenue, Ste. 100
Bend , OR 97701

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The Challenge of Technology

The biggest challenge to real estate professionals is staying ahead ofthe rapid changes in technology; the Society provides invaluable service in this regard.
One of the most significant areas of concern is database management; for agents, their database is the core of their professional practice they need to manage their practice as effectively as a doctor or attorney.
If an agent chooses to sell his or her business, the product is the agent's contacts; if the database is well organized to benefit from technological systems, it is much more valuable.

Changes for Agents to Make

More agents need to utilize their technology better in order to segment their database and maximize opportunities for contact; in recent years, personal contact has tended to be neglected as many agents have come to rely too much on email a valuable tool but a support tool.
Agents should have personal contact with the top 20% of their clients at least twice a year by physical visits or phone conversations.
Agents should segment their database into three groups the top 20%, the middle 50% and the bottom 30%; their database software should set up a recurring activity to identify some clients for the agent to call every day.
Because the goal of agents should be to build a referral-based business, the database should go beyond active clients; cold calling is becoming passé, so prospecting among past clients for referrals is important.

Real Estate Champions Training

The company works with agents one-on-one to build a comprehensive business package; service begins with an analysis of their behavioral style and their business practice.
The individualized blueprint for success establishes a pathway for an agent to intensify business production and activities while at the same timespending more time on his/her personal life.
Technology is a big component for creating leverage both ongoing listings and leverage are required for real estate success; critical forms of leverage include using other people's knowledge (e.g., coaching) and other people's energy (e.g., delegating, outsourcing and using technology).
The elements of technology that RE Champions focuses on are developing an effective web site, a marketing program to drive people to the site, a database management system and lead management system the database is the central focus.
RE Champions helps its clients to become good listing agents because having a group of listings is the greatest way to create leverage; working predominantly as a buyers' agent takes much more time.

Strategies and Tools for Agents

Maintaining a relationship with previous clients and mobilizing them on your behalf is key for building listings.
ProQuest's call-capture technology can be adapted to broadcast voicemail; an agent can schedule multiple calls and leave a voice message that sounds live for those who are not home; the program hangs up if someone answers and identifies the at-home numbers for the agent to call personally.
Technology allows agents to remove repetitive, low-pay activities from their routine so that time can be spent on the activities that generate the most income: prospecting, lead follow-up, listing appointments, showing properties to qualified buyers and writing/negotiating contracts.

Building Visibility

The primary visibility technique of most successful agents is an effective web site and gearing all other marketing to drive people to that site.
A related concept is giving visitors to the site a compelling reason to leave their contact information; the objective of having the site is to generate leads.
Sending an e-newsletter of value to centers of influence (such as "RealEstate Cyber Tips, which the Society provides free to members for easy personalization) is an effective way to keep in touch; agents should work on building the distribution list and keeping email addresses up-to-date.

Balancing Business Success and Quality of Life

Many agents pay too big a price to create success in selling real estate; the two ways most follow to get to the top are to become a workaholic or to buy the business (negating much of the profit).
Effective use of technology is the answer to escape from the minutiae of the business and to leverage your own time and other people's knowledge and success.
Technology allows an individual to be as productive as a traditional team of people; the Web provides a level playing field where independent real estate professionals in all fields can compete with large companies a small operation can have a huge Web presence.

Favorite Web Places

For staying current with real estate trends, Zeller recommends RealtyTimes and RealTrends (daily newsletter).
For more general learning, he likes Nightingale Conant.
To challenge personal thinking, he uses the sites of Jim Rohn and BrianTracey.

Parting Thoughts

Real estate professionals are really selling the assets of their time and knowledge, just like doctors, dentists and attorneys; to gain professional respect, agents need to be focused on maximizing their time and acquiring greater knowledge.
Technology in general and the Society's services in particular provide the means for real estate pros to achieve both of those objectives.