So I will admit – I’m an Excel freak.  If there is a  project, workflow, or experiment to be made – you can bet that I have created an Excel sheet for it.  That being said – it does have it’s limitations and when I was faced with a recent predicament that even the almighty Google couldn’t accomplish I had to think outside the box and revisit my old friend Zoho.

Recently, one of  my agents and I were talking about the importance of proper pricing and what a seller actually “pays” and “nets” by overpricing their home.  That led me to create the below spreadsheet that based on a simple mortgage formula and summing up the monthly costs of ownership for a home-owner (mortgage, taxes, assessments, etc.)  Once  we have this number we can simply pull simple data using MLS info OR (my personal favorite – Agent Metrics from Terradatum) and plug in the numbers for DOM (days on market) and SP/OLP (sales price to Original List Price ratio).

So this was cool, and I have had a number of agent use this in their listing presentations to either 1. Get the price they want from the start or 2. Show what it has cost the seller already (if they have previously been listed).  It’s great info and really drives the point home – however I was stumped when an agent approached me and said, “I’d really like to embed this on my website so that I can drive traffic there from my farm.”

Take 1 = I fooled around with Excel and found that I could export it as a webpage (great) which I could then open with Notepad to see the HTML code (awesome).  However, this being a Microsoft based program – I soon found the problem in my ways when viewing this in Firefox:

Internet Explorer 5.0.1???

Take 2 = So I scrapped that idea and went the “cloud based” route and opened up a quick Google Doc.  Upload – Activate – Format – Share.  Got the code and placed it on my site.  Result = #fail  Where the sheet showed up fine, the functionality of the sheet was removed and the consumer could not take advantage of putting in their home value, taxes, assessments, etc. (NOTE – I am not saying that I didn’t overlook something, so if I mistaken – please leave my error in the comments section)

Take 3 = I have played around with the suite of solutions put together by Zoho.com off and on over the years.  I can’t tell you why i don’t use them more often other than the fact that I (like many) am a slave to Google.  So after logging into my Zoho Account – make my way over to Zoho Sheets – upload the document – and presto!  See the finished piece below.

Take a look at the functionality in this sheet – the consumer can actually fill in their information on their own and see the true value in correct pricing. Feel free to download and use with your clients – and as always, I’m open and eager for any suggestions on how I could make this better!

~ Matt

Culture IS Innovation

I take a lot of pride in the company that I work for.  It’s a little company called @properties out of Chicago, IL that has some pretty sweet stats for only being in business for 8 years.

• $1.9 Billion closed for 2008
• 1st in market share for the city year to date
• Highest Sales price to List Price of any major Chicago Brokerage
• Lowest Days on Market of any major Chicago Brokerage
• 4th in market share for all of Northern Illinois
• 750 agents, 5 offices, and only 20K square feet of office space

Most importantly though, we have a 99% retention rate of agents.  This statistic is almost unheard of in the real estate industry today.  We do little or no active recruitment other than our current agent population referring agents that they think would like to work here.  It’s a great place to work where people feel supported, appreciated, wanted, and that we are invested in their success.  How is this all possible?  I’ve boiled it down to one word… CULTURE.

Culture (as defined by Wikipedia) refers to the set of shared attitudes, values, goals, and practices that characterizes an institution, organization or group.

Innovation (as defined by Wikipedia) means a new way of doing something. It may refer to incremental, radical, and revolutionary changes in thinking, products, processes, or organizations

In essence, we at @properties are Innovating through Culture.

Why am I making this parallel?  Because we are very proud to say that today it was announced that we are a Top 5 Finalist for Most Innovative Brokerage and Franchise. And what does this “Innovation” award mean to me? (disclaimer: I am speaking for myself and not for @properties)

It means that the industry might actually look past bells and whistles when discussing innovation. That the  Culture of a company might finally fit into the, “means of radically doing something different” and take it’s rightful place at the forefront of importance for success.  It means that our agent population logged into the Inman site and told them, (in their own words on their own time), that they LOVED the company they worked for and believed that our methods and “culture” of doing things inspired their success.

To me… this is well deserved.  Not for me.  Not for the PR.  But for everyone involved in our company organization.  From the people at the front desk that stay late to help an agent finish a CMA, to the incredible IT staff that bleeds patience setting up an iPhone with our Microsoft Exchange Server, and everyone in between.

It says that our Holiday party at a time when companies were cancelling theirs was the right decision.  It says that our softball/volleyball tournament every summer builds friendship and brand.  It says that having 2 full-time coaches to support agents builds more than just friendships.  It says that not only providing cutting edge tools, but taking the time to educate and show agents how to use them makes all the difference.

Long story short… It says to me that a company culture can be revolutionary, radical, and yes… innovative.

Below is a video I  shot of Thad Wong, (one of our owners/founders along with his partner Mike Golden), at the Northwestern University’s Kellogg School of Management where he and I spoke to a group of MBA Leadership students.  Watch this video and you’ll understand how culture can not only change a company, but radically alter and industry.

If you would like to hear more or learn more about our company culture and what we’re doing differently… drop me a line.

Matt Dollinger

Our family’s home had been damaged in a fire years earlier, and through a loophole in the insurance policy, did not receive any assistance.  When I first witnessed the home I was in disbelief.  Not because of the horrible conditions of the home, but by the ingenuity of the 71 year-old husband to do everything he could to repair it.  The home itself had seen much better days, with a staircase pulling away from the wall, soot stained carpeting, and ruined kitchen complete with 20 year old appliances, but the family that lived inside shared love, laughter, and happiness regardless of these conditions.  (See our Blog www.rebuildingchicago.com for pictures of pre construction and a list of our donations)

In the two months prior to the event, our volunteer community of almost 75 Realtors and over 25 skilled work volunteers exhausted every favor owed and developer contact we had for donations.  And on the day of the event, we arrived at our home with over $15,000 in donated time, materials and monetary donations.  (see pictures of event day at http://gallery.mac.com/jeremysegal/100057)

The most important part of this project wasn’t the new kitchen, the new staircase, the extensive landscaping, the new appliances, the rehabbed bathroom or the $1,000 cash donation at the end of the day.  What I will remember from this are the conversations I had and the comments I have heard since the event from our agent population. 

“This feels really good.  I am so thankful for what I have at home.”

“I can’t believe we did this.  I am so proud of what we’ve done.”

“This is the most rewarding thing that I’ve ever done.”

“When are we doing another one of these?”

In a world of selfish and self-serving behaviors; At a time when people crowd tour buses to gawk and bid on families losing their homes; In a country of capitalism and status measured by credit scores and assets; these associates who I now consider friends, joined me for a day of feel-good philanthropy and made a difference in a family’s life.  And maybe… just maybe… we can all work a little bit of this giving we uncovered and work it into our everyday lives and our “You Factor”

Matt Dollinger

“It’s like talking to an agent who works the neighborhood: You will find specifics on how prices have changed in the neighborhood at various price tiers, and what are the hottest-selling sections or developments within the neighborhood.” – says Rodkin

Our plan was to integrate neighborhood data compiled over the last few years and present it with a consumer focus, and consumer understanding. Where the report is still in its first release stage, and our hope is to integrate advanced charting and even geo-coding of neighborhoods down the road, it seems that we have hit our mark of appealing to the consumer and delivering it in a format that they want. How’s that for listening to the masses?

Matt Dollinger
@properties
Performance Coach
MattDollinger@atproperties.com

I shiver almost every time someone mentions the phrase Web 2.0.  The catch phrase of the millenia, 2.0 refers to “the next step”, NEW, better than the original.  The “official” Wikipedia definition refers to Web 2.0 as, “a term describing a trend in the use of World Wide Web technology and web design that aims to enhance creativity, information sharing, and, most notably, collaboration among users”.  (see article here)  So, what happens when our intricately laid plans of information sharing, creativity, and collaboration actually DISTANCE ourselves from our consumers instead of pulling us together for the sharing we so seek?

This is an issue that I often find myself smack dab in the middle of when talking with friends and others in the real estate community.  In an industry of “me too” and “ours is better” the question becomes; “In our quest to increase exposure to listings and target a finite consumer pool, are we appealing to our audience or distancing ourselves from them?”

My thoughts have always been focused (with real estate at least) around the following:

1. Enhance the overall customer experience
2. Provide more “usable” information than other sites/companies
3. Visual appeal and usability
4. Functionality

I was amazed when I witnessed the release of Chase Nation , a social networking site devoted to the Lake Tahoe/Reno, NV area.  It scores an 11 on the “Coolness” scale and set the tech community buzzing with its forward thinking and ingenuity.  Two months (roughly) after its release date, the network has a total of 350 members, (130 of them being Chase international Realtors, and I would guess another half being interested parties like myself).  I am assuming that the site, (unconfirmed), was assembled to provide area information, thoughts, opinions, etc. from the neighboring public – ultimately increasing the company’s exposure and increased potential buyer/seller traffic.  It remains to be seen if this idea catches on, but I am speculative. 

Even in Chicago, a city I know like the back of my hand and love, I could see this type of neighborhood network REALLY taking hold in maybe 4-5 areas with the right roll-out, marketing, and advertising.  (I have no idea about the roll out or advertising Chase International did for this project.)  But now, rather than wait for the general public to “catch up” to this technology, all the real estate tech blogs are exploring; What’s next?  What’s better than Chase Nation?  How can we surpass their tech-genius?  (One of our local real estate companies even tried their hand at creating a Second LIfe office and failed miserably.)

In my mind it all comes back to figuring out WHAT the consumer wants and WHAT the consumer is willing to use.  For the millions and millions of dollars that are annually spent in advertising budgets, statistics, and analyzing the behviors of consumers, my question always becomes; “Why not simply ask them?”  I encourage EVERYONE… whether in Real Estate or whatever business, to target your top 10 clients and ask them about their Psychographics.  Ask them why they worked with you, what they liked, what they didn’t, what websites they visit, what they think of yours, how you could improve it, etc…  Go to the source and listen… The #1 desire of all human beings is to be heard and understood.

Then, when you find what they want, desire, like, etc… then put 110% of your efforts into providing that to the nth degree and making their experience better.

(Part 2 to come – stats and figures)

Matt Dollinger

Today, we took great pride in announcing the public release of our @Report, A Market Analysis of 21 Chicago Neighborhoods. Below is a short video clip of Thad discussing the @Report in an exclusive taping with the Chicago NBC affiliate, and it’s importance to the Chicago public.

Included in the official Press Release, Thad had this to say about the report:

“Real estate is local in nature. Instead of analyzing data region by region or city by city, we’re analyzing it neighborhood by neighborhood and block by block, so it’s much more useful to the local homebuyer or seller,” said Wong. “Numbers and statistics are important, but they don’t tell the whole story. This report does a really good job of addressing the ‘why’ and ‘how’ in addition to the ‘what’. Those elements have been missing from a lot of local real estate news.”

[vodpod id=ExternalVideo.517235&w=425&h=350&fv=] from www.wellcomemat.com posted with vodpod

There are some wonderful findings throughout the report. Feel free to browse it HERE or by directing your browser to http://www.atproperties.com/marketReport/

Matt Dollinger
@properties
Performance Coach
mattdollinger@atproperties.com
312-506-0236

Below is an email that I received from one of the agents I coach last night after working with him last week.  He has been a Realtor for a while but feeling rather burned out with the whole industry lately.  We talked at length about his passions, what he liked to do in life, and how we could use this to incorporate a “You Factor” into his business.  The results were outstanding…

Matt, 

I just wanted to thank you for your time last week, I’m very glad <our owner> encouraged me to meet with you. Some of the ideas we came up with to build my business have me real excited! I went out that Friday and took a bunch of neighborhood shots for my listing in <a neighborhood of Chicago> where I have been getting a somewhat negative response on the location, and had them out on the table at a showing on Saturday. The first person to come to the listing and see the pics wrote a contract, that day. Maybe luck, maybe effort, but either way I had a lot of fun getting these pics, and it’s got me real excited about combining my passion of photography with my career as a REALTOR. I can’t wait to implement more ideas.

Thanks so much for you time, I’m looking forward to continuing working with you.

See the pics here

Now I’m excited… and when I’m excited… Katy, bar the door.