Neo – “Why do my eyes hurt?”

Morpheus – “Because you’ve never used them before.”

One month ago I took the red pill and woke up from the RE.net Matrix.

I think it’s important to point out here that this is not a swipe or downplaying the importance of the RE.net community. The contributors and discussions that are shared there often times border on the level of brilliance. I have learned immensely from the leaders and contributors there.  This is simply a personal account of how I began to look outside the Matrix, and what I learned when I got out.

“The answer is out there, and it’s looking for you, and it will find you if you want it to.”

My red pill came in the form of a face to face discussion outside departure terminal 2 at Ohare. My friend and I discussed the future of the RE industry, its pitfalls, and the stonewalls that hinder it’s progress forward. We debated in circles again and again, only to come to the same conclusion; that there were obstacles that cannot be overcome by us alone. We parted, and the conversation haunted me until I realized something that Henry Ford quoted beautifully:

“Obstacles are those frightful things you see when you take your eyes off your goal.”

This is when it came to light. There are obstacles that I alone, (or even collectively), cannot overcome, and was allowing them to obscure my vision. These immovable mountains were limiting my path and, although needed to be recognized,  could not consume my eyes. I needed to get out. I needed to wake up. I needed to leave the comfortable nest of recurring problems and debates and exit the Matrix. I chose the Red Pill.

“Remember… all that I’m offering you is the truth and nothing more.”

My rebirth began at a Starbucks on the corner of Halsted and Irving Park in the Uptown neighborhood of Chicago, IL. It was lacking in the drama of wires, plugs and membranial goo but was just as mentally freeing. It started with a simple whitepaper compiled by one Peter Kim of micro-celebrity fame entitled, “Social Media Predictions 2009”. And as it downloaded into Firefox, I could almost hear the whine of the Matrix in the background.

“I know Kung Fu”

The whitepaper is a collaborative effort born by Peter containing the smartest voices of Social Media today. Names like Brogan, Armano, Handley and Jaffe (to name a few) replaced the characters of Mouse, Dozer and Trinity on my journey of rediscovery. None of them balked at the challenges of registration, DOJ, or physical office space. They looked beyond it to a world of possibilities unhindered by these obstacles. I smelled the possibilities, sensed the pains associated, and was excited.

“I’m trying to free your mind. But I can only show you the door. You’re the one that has to walk through it.”

My next steps through the door of “awakening” forced me to retool my surrounding and purge my Reader. Blogs that I had read for years made their way to an icon resembling a garbage can and were replaced with titles like, “Logic+Emotion”, “Groundswell”, and “Influential Marketing”.

I felt disloyal abandoning old friends I held in such high regard that guided my infant footsteps in the RE.net Matrix, but knew it was something that had to be done. I also did so knowing that there were those in the Matrix that would combat, lash out, and fight my newfound mindset. But I needed to see the forest from the trees.

“He’s beginning to believe.”

The more I read, the more excited I became.  Here were REAL ideas addressing REAL problems REALLY differently.  It wasn’t the latest app, CRM or other technilogical whistle that was going to solve the problems of the modern day economy – it was a complete renovation of business as a whole.  I started to realize that for every great idea, for every vision that was forward thinking in the RE.net, there was somebody, that was there… fixed in their ways.  They were unable to try something different, something that might be the way to change the industry.  I started to believe that this… this open eyed view I was experiencing, past the boundaries of real estate, could actually do it.

“Fasten your seat belt Dorothy, ’cause Kansas is going bye-bye”

One of the best things that the Matrix has done, has been to validate some of the newer tools for change.  Twitter, Facebook and Social Media as a whole are now, (thanks in large part to the RE.net), viewed as amazing methods of differentiation – foundational brickwork for industry innovation.  Unfortunately, this has also (unintentionally I believe) influenced boundaries to be created that ideas and solutions must exist within.  These boundaries got me thinking, “Are we truly ‘innovating’ if we’re using Zillow’s iPhone app or Trulia’s Voices?”  Aren’t we actually “implementing other’s innovations”?  Where are the truly new and ground shaking ideas from within the industry?  Haven’t these “benchmarks” actually caused us to implement and accept rather than question and adapt?  Who said we had to play within the confines established or the rules laid out by others?

The companies (outside the RE.net) we view with such adoration didn’t necessarily work on this model.  Zappos, Dell and Comcast (the regarded leaders in innovative implementation) utilized something BIGGER than what was in their industry.  They looked past what AT&T, Shoebuy, and IBM were doing and took risks.  They WROTE the rules, they didn’t follow industry standards.  In an awesome post, “Brands will Learn by Doing.  Get Over It“, David Armano talks about this risk – and the fact that mistakes will be made, and that’s ok.  Only by taking these risks, listening to what our consumers have to say about them, and then learning/adapting from it will our efforts be rewarded by R.O.E. (Return on Engagement).  Only after “Doing” will we be able to learn and adapt accordingly.

“There is a difference between knowing the path and walking the path.”

So what are the solutions that on the horizon?  What is so amazing that I have learned by looking outside the RE.net Matrix?

Below is a small sampling of my thoughts that I have learned along my journey so far:

1.  Let Love Rule - For brokers this means that you need to put down the battle axe that you’ve been grinding with your agents over commission splits, etc.  Lead by Love and you will see the emergence of an entirely new business model in your company.  Yes, there will still be those agents that try to milk you for all you’re worth, but for every one of them, there will emerge 10 “lovecats” that if shown they are loved, will become your most loyal soldiers.  For agents, get over the whole “buyers are liars” mentality and show your clients some love.  They have trusted you with their most valuable asset and you (some have not) have neglected them since the market has turned.  They are worried, they are scared, they are in need of an Advisor and not a trinket of your affection.

2.  Learn by Doing (Listen, Learn, Adapt) – Those companies that take the biggest risks and LISTEN to the results will have the biggest competitive advantage.  Ask your internal folks, your clients, and your advocates for ideas and then commit to trying them out and listening.  Break free of the chains of brokerage and start managing from a position of innovation.  The market is not coming back to 2005 and your website isn’t going to save you.  Only by taking substantial risks are you in a position to reap the rewards.

3.  Education is the Key - Empower the most passionate on topics that your clients/agents find important and expose them.  Allow them to talk unbridled about their thoughts and insight into these topics.  Find outside experts that are more passionate and knowledgeable than them to validate their theories (To see what someone inside the RE.net has done check out what Reggie Nicolay has done here).  Call businesses in your marketplace that are doing things differently and invite them to speak directly to your agents.  Teach the basics in a new manner (see David Armano’s presentation on ‘Thinking Visually’ here).  Try something new.  Take your top 10 agents and go on a field trip to the Apple Store for a crash course one “how to create an long-lasting customer experience” – FYI – I did… and it was amazing!

4.  The Social Web is the Human Web - Those that are seeing the highest return (retention, engagement, branding) on social media are those that are engaging clients with live, human, passionate people.  Eblasts and other mass-marketing serve a “touch point” purpose, but for true engagement, there are few that can hold a candle to the humanness of Comcast’s Frank Eliason.  Frank is passionate, he is empathetic, he is genuine… and he is human.  The social web is called just that for a reason – because it begins, exists, and ends around people.  (For more insight – check out the Notorious R.O.B.’s post ‘It aint the Technology’)

5.  Trust your judgement (and that of your team) - If there’s one thing that I’ve learned as of late, it’s that YOU know your clients, market, and agents better than any consultant, guru, or expert.  At a recent conference of Leading RE Companies of the World, Rob Hahn and I sat in on a group of brokers discussing their future outlook.  What we learned was that there is NO “One Size Fits All” solution for the future of your business.  Knoxville, TN is not Chicago, IL or San Diego, CA for that matter.  Where some ideals (client care, humanizing your company, educating your agents, innovative thinking) are necessities to do battle in today’s marketplace, hyperlocal (and ITS PEOPLE) is your audience.  Not the brokers on Inman, not the RE.net on Twitter, and not me.  Your local audience is your “collective” and that which you should focus on engaging.  Be yourself and be authentic… you can’t be all things to all people.

(Side note – while I was at Leading RE a broker from Texas came up to me and handed me a golden dollar.  He told me that he wanted to say how much he respected the fact that I wore a suit every day to the sessions (to get away with the fact that I only shave once a week!)  This small vintage-Carnagie token has stood out as something I won’t often forget.  It wasn’t flashy, it wasn’t cutting-edge, but it was HIM and it was AUTHENTIC)

“Welcome to the real world.”

The world does not look all sunshine and roses outside of the Matrix. There are challenges here as well, obstacles that I will face, and lessons to be learned from the RE.net Matrix. One cannot exist without the other in our world any more than it could in the movie. But, I for one, can attest to the fact that this world, outside the argumentative noise of existing problems, looks like one with solutions on the horizon.

Matt Dollinger

The You Factor

]]> http://theyoufactor.com/2009/05/13/looking-beyond-the-renet-matrix/feed/ 18 http://theyoufactor.com/2009/04/06/jerry-was-a-real-estate-broker-aka-the-conduit-between-new-and-old/ http://theyoufactor.com/2009/04/06/jerry-was-a-real-estate-broker-aka-the-conduit-between-new-and-old/#comments Mon, 06 Apr 2009 17:19:54 +0000 Matthew Dollinger http://theyoufactor.com/?p=110

Jerry was a race car driver, And he drove so goddamned fast
He never did win no checkered flag, But he never did come in last
Jerry was a race car driver, He’d say el solo number one
With a bocephus sticker, On his 442 he’d light em up Just for fun

- Primus, “Jerry was a Racecar Driver”

The 1969 Camaro 302 V-8 was my dream car since I was a little boy, so please pardon the analogy of this post.

Picture the Camaro above as representing the American Real Estate Brokerage.  It was built a strong chassis, road gripping tires for any environment, and an engine that churned perfection.

It has been a tradition in it’s marketplace.

Born on the assembly line of Motor City, the unions created this work of art with their bare hands.

Dirty, greasy, made of molten steel, it consumed the elements around it

Long celebrated for it’s brand of muscle, power, design and air of freedom.

It has stood strong in its customer loyalty and commands an air of respect as it growls down the street.

Individuals around you looked, looked again, admired, and yearned for it.

People loved the Camaro… but its time has come and gone.

Today brings about the Toyota Prius of Real Estate Brokerages with 60 MPG, integrated bluetooth technology, super computers that allow analyzation of all systems in the car and aerodynamic design to aid in efficiency.

The Prius complies to all environmental standards, provides awesome safety to it’s drivers.

Engineered by robotics to be near flawless

Tweaked and streamlined in every way it rolls silent, brand-less, sophomoric, almost afraid to make noise.

The brokerage of tomorrow works its way into our homes and resides in garages across the United States.  Cold, Plastic, Unloved, Uncherished, it resides only to serve the purpose of it’s owner… never to experience the warm, wet embrace of a chamois on a sunny Summer day.

Where’s the love?

In countless posts across the Web, from 1000watt consulting to Inman to a post by Ashfaq Munshi over at FOREM and even the Notorious R.O.B. the topic of real estate brokerage’s future (and office) are dotting the radar.  But through all of the speculation, the insight, and the fanciful brainstorming (see my post for this here!) there’s one huge element missing.

Where’s the warm, wet chamois on a sunny summer day?

Here’s what the real estate brokerage of the future looks like in my muscle car mangled mind.

Welcome to the Brokerage of the Future, (a.k.a The 2010 Chevy Camaro)

Throughout the Leading Real Estate Companies of the World conference last week I submerged myself in both Geek Estate and Brokerage Estate as deep as I could go.  This is what I realized:

Geek Estate Thinks…

• The brokerage house of the past is dead, buried and old
• Twitter will solve the worlds’ real estate issues
• Faster, sleeker, interactive communication is not only expected, but demanded
• SEO, Lead Capture, CRM and Drip are the new biz-love words of the future

Brokerage Estate Thinks

• There’s a distinct rift between The Agent and The Brokerage
• I need to own the technology (fear)
• You can’t “love” an avatar
• The “family” brokerage I built is dead and gone
• There’s no way I can learn all of the technology that’s out there

I think that both are right… but both are dead wrong.  Where’s the mutually beneficial relationship?

The 2010 Chevy Camaro is a kickback to yesteryear and embraces tomorrow with both arms.  Brand, loyalty, love, mpg, innovation, design, efficiency, performance, power, technology are blended into a streamlined modern-day muscle car of the future.

My Thoughts on How to Transform you Brokerage into a Muscle Car?

1. Get a GREAT website that will help generate business (check out this link to see some of the best)

2.  Partner with a company like Onboard LLC. to provide local information to the consumers

2. Invest in a couple of local citizen journalists to teach your agents how to write great copy

3. Invest in some great Email marketing programs like MailChimp

4. Hire a couple of Temps or Interns to take agent created content and send it out to their clients

5. Use the copy that they write to power your company’s blog to engage your client and create killer SEO

6. Create an internal designation to create/educate The Best Realtors in your market

6. Align yourself with financial planners, attorneys, mortgage brokers, and inspectors to teach your agents advanced education and client “life cycle” marketing

7. Align yourself with the local school to teach your agents about client psychology

8. Open your doors to the consumers and answer ALL of their questions

9. Give the agents a 5% bump in commission if they will work virtually

10. Invest in something like homefeedback.com where it will automatically send out feedback requests

11. Send an email to all of your agents (Right Now) that tells them how much you appreciate all of their hard work, commitment, and encourage suggestions to capitalize on the market

The brokerage of the future will understand this and embrace all of these things and work dilligently to keep the culture and brand your company has created (or work hard to create this culture if you’re a newer brokerage).  Twitter can’t give a handshake.  But realize that the client DESERVES and EXPECTS the most cutting edge online experience that you can deliver.  It’s not one or the other… the goal should reside somewhere in the middle between 1969 and Prius.

And if you achieve this happy medium…  you will have created something admired, yearned for, desired and loved by not only the consumer, but your agent population as well.

Matthew Dollinger

The You Factor

Picture this…

You own a brokerage in a major city. You are an established name. And like everyone around you, you currently suffer at the hands of the real estate downturn.

Business is down 40% and your costs are spiraling out of control. Costs that include:

Print advertising. A surplus of marketing, IT, managers and support staff. And a lease for office space that provides too much room for too many agents who have no need for it.

This image is filled with roll-top desks, conference rooms and employee break rooms. It could be an office in any town, in any city, in every corner of the United States. And somewhere, in some lonely office within it, the sound of CFO’s weeping only masked by the whispers of agents talking near the coffee pot can be heard.

“So… how’s your business”
“Business? It’s really tough out there.”
“Yeah. Did you hear about Steve? He went to (competitor X) the other day?”
“Really? Wow… Sally took a part time job at Coffee-Joes.”
“Huh… That’s smart. Gives you a little cushion.”
“Yeah. I’m hoping the Spring Market kicks in soon.”
“Uh-huh. Maybe the stimulus thing will help. I wish it was still $15K.”
“Well, I spent some money on a program to get some Internet leads yesterday.”
“Really? That’s a good idea. I just started a blog.”
“That’s a great idea. I heard about that Social Internet. That’s where the buyers are…”
“Uh huh… I’m going to focus on the Luxury Market.”
“Well… I’m gonna go to some broker’s opens. Wanna go?”

Do these images look and sound familiar?

What it could look like .

Unlock this door and enter a 2,000 sq. foot space. Inside are half a dozen customer service people with varying degrees of specialties that range from sales to legal to mortgage services.  Outside, an intern arranges the courtyard space that includes tables and chairs that run along the sidewalk. Outside, music is piped in from satellite radio. Inside the flat screen panel televisions spark to life. The smell of fresh locally-roasted coffee roasted specifically for your company and branded with your logo begin to fill the air as a local pastry company delivers trays of treats.

The agent “sitting floor” dons a headset connected to her computer linked by VOIP to a central server that holds all the company listings, information, and agent contact information. The first call of the day arrives. Since the caller dialed an extension for property information, before the call is answered, the property information, pictures, property videos, neighborhood market information, tax information and comparable properties are populated on the screen.

The agent who answers the call is instantly able to provide all the information to the caller. Since they are part of your “Client Care” group they can communicate effectively and intelligently with the caller on all buying and selling . The selling agent’s schedule also appears on the screen, so the sitting line agent can setup a buyer’s interview an hour before a the appointment, which is sent immediately to the selling agent’s handheld.

A stream of passerby’s stroll through the door taking advantage of the ancillary services made available to them. Whether it sipping coffee, accessing the web from the mini bar of computers, stock quotes, RSS news feeds, and short video spots of properties and the company’s current CSR projects flow across the LCD screens as they wait. For those have brought their laptops they freely tap into the Wifi provided and log in from the companies branded webpage that also includes local news feeds, real estate information, videos of homes for sale, current market statistics, and more.

Outside the brokerage their solar powered sign displays the time, the temperature, current interest rates, as well as the # of kilowatt hours this particular office has saved by doing their part to go green. A fleet of Zip-Car hybrids that sport the company logo on them are parked out front available for both agents and local residents to use upon request. A number of dog bowls with fresh water line the side of the building and in the windows are pictures of local school outreach programs, sports teams, and children’s social responsibility groups that this brokerage has been a part of.

A young couple enters and is immediately greeted by an office manager who answers their many questions about the current real estate market. As a result of this discussion, which reveals them to be first time buyers, their needs are matched to the appropriate agent rather than whoever happens to be free at the moment.

The right agent greets the couple and takes them through the process of buying a home, the benefits, potential downfalls, and explores their short – mid – and long-term goals. He discusses school districts, why they are looking to buy a home right now, the current state of the real estate market and then asks if they have learned about “Financial Responsibility in Lending” yet. The couple replies no.

The agent invites the lending professional who occupies space inside this facility. They present a “Financial Responsibility” worksheet for these first time buyers. It’s a multi-paged brochure that discusses the responsibilities associated with mortgages, what is needed to apply for one, and what type of information will be required to apply for a mortgage.

An interested lunch crowd is invited to gather and attend an impromptu performance that includes a set list of economic talking points such as “Improving your Credit Score” and the Are you stimulated by the housing bill. This free seminar is held 2 times a week and is part of the “Home Buyer Education Curriculum”. A free flash drive containing budgeting software, articles, and a copy of the presentation is provided to each of the attendees upon completion of the seminar.

Wouldn’t YOU want to work here?

The real estate office of the future starts… and ends… with the real estate Company of the future. I think that this is a good start.

Matt Dollinger
Read more like this at The You Factor.com