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

Last week I had the opportunity to attend (and speak) at the Leading Real Estate Companies of the World annual conference – held at the Encore Resort in Las Vegas.  One of the highlights of the conference was getting to sit in on a small session with Dale Ross and Marty Frame of the Realtors Property Resource (RPR).  Even though I thought that I was pretty “up to date” on the FAQ’s of RPR – I found this session both enjoyable and informative.  Find my rambling notes below:

What is the Realtors Property Resource (RPR)?

• National, parcel-centric database

• Member benefit of NAR

• Owned and controlled by NAR members

What are the Goals of RPR

• Provide all available information about residential and commercial property and ownership to NAR members

• Unique data content and analytics

• Eliminate cost for NAR members who pay for 3rd party services with limited scale

• Promote marketing efficiency among participants

• Provide this information to other 3rd party vendors (not listings) but data and analytic information

Who owns RPR?

• Not a third party vendor

• Not a publicly traded company

• Not a joint venture

Personal Question - *Said that the reports are NOT AVAILABLE TO ANY OTHER WEBSITE – but also talks about providing this information to 3rd party vendors for a fee.  What and how much is available to these 3rd party companies?

Answer from Panel – *** The only thing that will be provided to external sources will be analytic data – this will NOT be viewable by consumers AT ALL through non MLS members.  The analytic data will be used for their internal “knowledge-base”

• Mobile app – coming for beta soon

• Market Share Trends – Across MLS’s in one format

Office and company comparison by:

• Listings, sales and total – dollar and unit volume

• Market share percentage

• Ave. Sales price

• Sold vs. Original price

• DOM

Market Report

• Supply demand changes, Price Changes, and More

Target Marketing

• LTV

• ARM aging

• Delinquency or default status

• Gov. Assist. Or incentives

• RBR demand and segmentation

Add. Benefits offered by RPR

• Nationwide community cost of living comparisons and demographic enhances Relo Team svc to incoming clients and provides outbound referral opportunity.

• Company forms and population (disclosures ABA) reduces risk and liability

• Training curriculum

Additional Data Sets Available

• Delinquency and Short sale elevations vs. foreclosures

• HUD/GOV data and program eligibility

• FHA and first time assistance (low income)

• Condo master/HOA documents

Launch Schedule

• Beta testing phase (NOW)

• RPR User Advisory Council Beta testing April 2010

• First Beta Markets launched beginning in June 2010

• Additional markets to be launched beginning in June 2010 based upon contract and data mapping status

• Phased geographic launch to all NAR members via narrpr.com beginning Q3 2010

• Full informational Blog and Demo Videos located at www.Blog.narrpr.com

Open Floor Question and Answers:

• Is there going to be any branding ability for the broker to maintain brand-fluency?

o    They (RPR) are thinking about allowing the brokers to “brand” this with their information, brand logo, consistency.  This is not available at this time.

• What steps are we taking to make sure that this is not in any legal issues?

o    NAR legal council has been in review of this product since day 1 and they see no DOJ issues

• Discussions with MLS/First American

o    Fear is that we are trying to build a national MLS.  MRIS is afraid of this and has not signed the contract.  Provisions in the contract that this is a “non-compete” to protect the MLS’s in that regard.
o    Information is coming from LPS (prior Cyberhomes) and they have found that First American is less attractive.  First American has now approached the MLS systems and told them that they would “pay” the MLS systems for them feeding the information to First American.  These are two essentially “competing” with one anther and if they choose to enter with exclusivity, their data will not be available to RPR.
o    NAR is putting up $25 million.  This is the 1st rollout.  There is a business model behind it.  Revenue model below:

• Monies that NAR puts in will be paid back (1) for reinvestment
• Then monies will be paid into RPR
• Sell the analytic data (products) to mortgage, wallstreet, etc. will PAY RPR for this information so they can trend this.
• Partner with LPS (shared 50/50%) with LPS with all revenues.

• How did NAR allocate $25 million without vote

o    Money came from a reserve that NAR has created from HomeStore.

o    All leadership committees at NAR voted yes on this product

• How up to date is the REO information?

o    Delinquencies – 15 days after 1st of the month
o    Foreclosures – as soon as it is updated with the MLS

• Can you customize reports and is there a Broker/Agent Level display?

o    There will be pre-created reports, but there are ones that will be able to be customized and created.
o    Stayed away from the sales associates and recruiting
o    Company market share will be brokerage and office level

• What about feeding the API to brokerage company?

o    They will be exploring the usage of brokerages with API in the future within the restriction of their data license.
o    The build out can take years to do – and that is why we are coming to the brokers now.  This is not agent centric – it is broker centric.  We are looking for brokerage feedback.

• Concern of the amount of data and legal liability to brokers

o    Yes – there are going to be things on this site that are “sensitive” but they are an aggregate of information that all exists in the public sector and available to the general public right now.
o    There are certain liabilities that RPR will maintain (accuracy of data) and some will roll onto the providers of the data.

• What about Agent to Agent Referrals and Relocation?

o    We have pulled back on this specifically because of the relocation networks and their push back.

Dollinger’s Closing Thoughts: At the end of the day, the brokers in the room really seemed to be upset about one thing, “They weren’t asked to be more involved in the decision”.  Although, I have to admit that this was exactly how this initiative got pushed through so quickly.

I have my fears about this level of information making it into the hands of “less than stellar” agents – allowing them to poise themselves as knowledgeable.  However, where I do believe (as I indicated in an earlier post here) that this will serve as some type of “field-leveler” – I have truly come to believe that all the data in the world won’t make your clients believe you, unless you can articulate what that data means.

I’m excited to be on the beta test team for RPR and looking forward to sharing more thoughts on this along the way.   My best advice to anyone out there is simple:

• Follow the RPR official blog
• Keep up to date on any trainings that are offered
• Become skilled at data interpretation
• Be the first one in your area to become an expert on RPR

Stay tuned…

Did you put that plan into action?

This implementation is often times the number 1 failure of business plans and makes all of that wonderfully hard work for naught.  So what can you do to make sure that the goals and actions you have mapped out for yourself and/or your company get implemented?  Make yourself accountable.

In this short video below I discuss the importance of a “good” business plan, but focus much of my talk on different types of accountability tactics that have worked for myself, my agents, and others.  How do you plan on making sure your actions are carried out next year?  Share your tips in the comments below:

The You Factor – Thoughts on Business Planning from Matthew Dollinger on Vimeo.

So I’ve been having a ton of meetings as of late with agents worried about their business.  This isn’t new, and I’m sure it’s not specific to the Chicago market, but it’s something that deserves some attention.  Here’s the long and the short answer:

You cannot control a sale – your short term future is not defined by what you do today or tomorrow.  What you do in business today is going to affect your business 90 days out (or more) and should be worked into an actual business plan.  The goal, however, should be to start implementing ACTIONS that will translate into HABITS in your business going forward.

In this short video I discuss the creation of business habits as part of a business plan moving forward, as well as offering some ideas as to what you can do to start creating these habits tomorrow.

As you’ll see at the end of this video I am kind of let down by the amount of true collaboration that we see between agents and coaches alike with regards to sharing of actual implementable actions.  If you have done something in the past that you would like to share with others, or that you know could help someone out, please leave it in the comments.

All the best – Matt

Planning and Habits for your next 90 days in Business from Matthew Dollinger on Vimeo.

I shot this video on the way to work this morning to discuss a common thought that I’m having when attending events, watching my Twitter stream, or even working with my own agents:

The constant looking and researching, “what’s next?” and over-inundating of data we consume is actually paralyzing us as individuals.  Instead of actually putting something into action (or focusing on existing efforts that bring us business/engage our clients), our constant “shiny object syndrome” is actually hindering our success in business – or as implementers of actual actions.

Some quick thoughts below on this topic.  I would love to hear thoughts and/or discussions on this with examples that you have actually “implemented” or put into place.

Paralysis by Analysis – The story of Web 2.0 from Matthew Dollinger on Vimeo.

This is the first of a series of posts expressing insight into certain topics covered during my recent trip to the Blogworld Expo 2009, in Las Vegas.  You can view all my notes/thoughts and rambling by clicking here“

So, maybe I’m a little bit biased (since it is was my educational focus), but this thought was rumbling around in my head during the entire expo event.

“Engineering is the heart of everything in your business”

Here’s what I mean:

One of the most talked about buzz-words/concepts at BlogWorld this weekend has been about “strategy”.  Your social media strategy, your marketing strategy (both “new” and “old”), your engagement strategy, etc…  It was a very refreshing take since many of the events and discussions I have been apart of in as of late have been a “just do it” mentality – especially with regards to social and online media.  Many speakers and panels alike discussed the necessity to not only embrace new concepts and technologies, but to take on these challenges with a well thought out strategy.

So how do you “build” a strategy?  To me it is actually multi-phased, and rather than being “built” it is actually Engineered.

Step 1. – Understand – The questioning/fact-finding phase

Step 2. – Assess – What do we know/have at our disposal?

Step 3. – Design/Visualize – Laying out an “if this then that” map/Start with End in mind

Step 3. – Analyzation – Learn/ Assessment of collected data/engagement/results

Step 4. – Adaption Process – Using Gained knowledge to learn and improve.

Step 5. – Repeat – Using gained knowledge, reassess from Step 1

Are you an engineer?

It’s easy (and yes some even consider it sexy) to call yourself a consultant, social media expert, or marketing person.  No one ever tends to consider themselves an engineer.  But in this time of “geek ascendancy” and shrinking/disappearing budgets, I personally think it’s necessary to approach EVERYTHING from a standpoint of engineering.

Too often I see “brain storm” marketing campaigns tossed together without thought of consequence leak from individuals or companies.  I might even suggest that engineering is the “new rule” of marketing or business in general.  Since “new” media especially has given everyone a soapbox to shout from, isn’t it even more important now to fine tune your role out before launch?

The end of “Test” Markets – an example

What do you mean you're not hungry?

Back in the day, when McDonalds or any other company wanted to roll out a new product they would do geographical/regional testing.  For example – if they were looking at releasing, oh…, the McRibb Sandwich – they might do some research and find that barbecue is most popular in a particular region or market (i.e. the SouthEast).  They would then contact their franchises in that area, prep them on marketing and preparation of the item, roll it out to the public and see how it was received.

If it succeeded – great… our data shows it’s successful in BBQ market.  If not – no worries… we rolled out a crappy item to only one area and not to the whole country.

Today.  If McDonalds did that today, they are unable to confirm that poor (or good) response to the particular item would be confined to the target region (and a small trickle of Word of Mouth marketing to outside areas).  Due to the expansive reach of the social web the poor response would creep like wildfire across the country – reflecting poorly on the McDonalds brand.  The question I pose to you is – “How many leaks has your test-marketing already caused?”

I am not a marketing expert

I am sure that some will disagree with the things that I have written above, and many are more insightful/creative than me when it comes to marketing.  My strength isn’t in writing passionate copy or Adobe Illustrator.  I’m a process guy.  In my mind there is a Beginning – a Process – an Outcome – and Analysis.  And where I might have traded my pocket protector for a laptop, the core of an engineer will always revolve around problem solving.

This is the first of a series of post both on what I learned while at BlogWorld Expo 2009, but on a larger level to help those in my network to start approaching their business from an “engineer’s mindset”.  Who knows… maybe you’ll even start to feel that engineers are sexy.  Intel does!

Matt Dollinger
The You Factor

It's gotta be the shoes...

This year I decided it was going to be THE year for golf improvement. I had never really considered myself an “avid golfer” in the past although I have chased a ball around since I was 12. It’s simply been a pleasant way to get outside with friends and enjoy the day.

At the beginning of the season I was invited to play at an outing at probably the nicest course I have ever played. I was partnered with the club champion (who was an absolute saint) and proceeded to shoot the worst game of my life. So on the way home I pledged to myself and the golf gods above that I would get better this year.

To do this I did what most golfers do – I headed directly to GolfSmith (the golf mega store) and dropped a couple hundred bucks on a new club that I was sure would “change my game”. Next weekend, with savior club in hand, I headed out with friends and proceeded to shoot an even worse round.

What happened? I spent a good chunk of change on the latest and greatest technology to improve my game and still nothing? Was the club defective?

The next day I was on the GolfSmith website AGAIN and saw and offer for their golf school. It was an hour lesson discounted where they would analyze your swing. “This was it!”, I told myself. The cure all and all it would take was another hundred bucks, and I would be a pro! Awesome! They promised the latest in technology, whiz bang and other stuff. I couldn’t fail.

I met my instructor the next day and hooked me up to a mutli-camera-angle computer with all kinds of elaborate graphs and monitors. This was going to do it – Golf 2.0! At the end of my lesson Chad, my instructor, provided me a number of tips, tricks, and fixes for my game. I was astounded by the insight provided and could almost visualize myself hitting consistent 300 yard drives straight down the fairway. Then the truth came in…

“If you can do some of these things your game will probably improve”, said Chad, “but to truly get BETTER and consistent with your game we need to start from scratch. You have really bad habits from your grip through your follow through that are hindering your game. You need lessons focusing on the fundamentals of golf to really become a good golfer.”

What? No quick fix? No computer aided harness that I can wear on the course? Can’t I just throw money at the problem?

“No”, Chad replied. “It doesn’t work like that. It all comes down to educating you on the proper swing and core fundamentals, learning the advancements of the game and practice, practice, practice. That’s why there are so many bad golfers out there, because people don’t want to work at the issues that are there. They want to buy the latest club, putter, DVD or single lesson to get better.”

Fast forward three months to this weekend. On Saturday I shot the best round of my life, an 86, at Foss Park in North Chicago. What lead up to this?
* 12 one on one lessons with my instructor Chad
* 20 practice sessions at the bay
* 40 large buckets of balls at driving range
* Countless hours at the park with the dogs practicing

My point with all of this, (insert Real Estate Analogy FINALLY!) is that Social Media and any other “quick fix” that’s promised to you by a Facebook or magazine ad isn’t going to cure an ailing real estate career any more than my $200 driver did my golf game. In fact, COACHING isn’t going to fix your career either unless you are willing to do the work OUTSIDE of coaching to advance your career.

There has been exponential growth in the “Social Media Coaching” sector across all industries. Former agents and others have been popping up with “Expert” and “Guru” in their title/job description promising, “Increased leads and ready-buyers/seller tomorrow!” As a coach this makes me sick, because many of them are preying on desperate agents that are watching traditional marketing avenues dry up, their bills pile up, and closings completely evaporate. But it’s the quick fix. It’s the magic bullet to many. And some will look to this as the Dexedrine of the Real Estate industry.

The long and short of it is that, you cannot afford to be a “good” agent any longer – and being a “GREAT” agent doesn’t start with your Facebook or Twitter prowess. It starts with you knowing each and every nuance that has developed in your industry as of late. It includes knowing market statistics, financing questions, hyperlocal neighborhood information, school district boundaries/test scores, and killer negotiation and contract skills (for a start). It’s going to take you just as much time (and possibly more) as it took me at the driving range and practice bay to REALLY differentiate yourself as an agent.

The difference is that much of what you need to learn and know is free. Free educational classes through your association, free knowledge sessions from your preferred lender, free webinars from people like Reggie and Nicole Nicolay on how to use Social Media, and free resources like I put on my blog here under the “LEARN” section. There are people out there that might not spend the money to advertise in “Realtor Magazine” or pay for Google Keywords, but are closer to experts than many that do – (although they will probably NEVER call themselves an expert!)

So if I could give you a dollar’s worth of advice:
* Get off Twitter/Facebook and go to your association’s training
* Go out to coffee with your lender to hear about financing
* Read industry publications that discuss changes
* Shadow an excellent agent on a listing presentation
* Ask your broker for help
* Go on broker open tour and pull stats for that area
* Commit to becoming a GREAT agent

It all begins, continues and ends with the mentality that the career you have chosen is hard work and you need to continually evolve with it. You deserve to be a great agent, and more importantly your CLIENTS deserve you to be a great agent. Make a commitment today to learn how.

“Are you a real estate salesperson or a real estate advisor?”

I have asked this question hundreds of times to hundreds of agents across the Nation. And where the answer is variably different, in many cases it is still the same.

“I am here to advise my clients to make an informed, educated and advised decision that suits their budget, current and future needs.”

I take this answer at face value…  call me a cynic, call me jaded, but there’s a 600 lb gorilla in the room called “commission” that contradicts this statement for many.

As a RealtorR:

- I am compensated on the volume of transactions that “close”

- My “split”, or % of the gross commission awarded to me is determined by my production, or closed volume (i.e. the more I close the higher the % of gross commission I keep).

- So in order to pay MY mortgage, car payment, grocery bills, etc. I must actually CLOSE transactions.

The quagmire that is presented here:

1.  To be a true “advisor” and recommend AGAINST buying a home if it does not fit their budget, lifestyle, or current situation means that I am not going to make any money.

2.  To be a true “advisor” and recommend that someone spend less money than more money on a home means that I, in turn, make less money from the transaction.

3.  To be a true “advisor” and recommend that someone “hold off” on selling a home at the moment due to market conditions, net return/loss, etc. means that I am not going to make any money.

4.  To be a true “advisor” and recommend someone not purchase/sell a home at this time means that I have less volume “closed” working towards an advancement in commission split.

I believe that this is one of the glaring contradictions in the current real estate brokerage model, and one that I don’t have a concrete opinion on how to fix.  But that’s not what this post is about… There is raging online commentary on the commission/brokerage model of the future across the web, and this post isn’t intended to enter this arena.

Too many times have I heard the following:

“I’ve shown them 40 houses and they still won’t write a contract!  I just want them to buy something!”

“I don’t know what their problem is… we’ve seen everything and they still won’t write an offer!”

“I wish they would just buy something”

You are a real estate professional.  You have taken an oath to serve your clients and advise them to the best of your ability.  This “advising” is not limited to the negotiation of the property and searching of the MLS, you are in the truest form, a financial planner for their current and future home situation.   I apologize in advance for what is to follow, but the situation at hand absolutely sickens me.

Dan’s Story

In this video we meet Dan and his family that were lied to about the mortgage “teaser” rate that was applied to the purchase of their home.  Where 98% of the agents that I know would never partake in this type of scam, the emotion is real.  Dan is simply a voice and face of the American Home Buyer who had done everything right, budgeted, and saved to purchase a home for his family.

A Day in the Life

Most have dealt with or seen the aftermath of the Foreclosure process.  An empty house with boarded windows, appliances, basic fixtures, and even copper piping stripped from the house.  But put yourself in the above situation and think about “the day of”.  Then… think about the last client you worked with.  Would you wish this upon them?  After the countless hours of family talk, time together in the car, discussion of kids, pets and dreams, this could be their “next step”.

Wanda’s Story

Rather than vacate her foreclosed upon home, Ms. Wanda Dunn set fire to her family home before turning a gun upon herself and committing suicide.  Extreme… yes.  Commonplace… no.  But have you ever really wondered what someone faces for the future after foreclosure?  Aside from the emotional, personal and embarrassment factor of losing their home, they face the following to their credit score (courtesy of About.com)

Let’s make it a Party…

And how do some deal with the grim element of this problem?  What empathy and understanding do some brokerages employ to rectify an issue that out industry “to some level – let’s be clear…  SOME LEVEL” helped to create?  That’s right… we hire a bus, paint it accordingly, dish out some cocktails and make it a party.

Many reading this will respond with, “Those aren’t my clients”.  They might not be.  But they are the stories of middle/working class families of ranging ethnicity’s that we have turned a camera on.  But please don’t fool yourself as  it is happening.  Middle class or upper class, it is happening daily to clients just like yours.

There are exceptions to the rule just like anything else.  There are those that went to developers directly without direction from an agent.  There are those that took out huge lumps of equity to spend on cars, plasma TV’s and other luxuries.  But there are many stories, maybe one on your block, that haven’t made it to YouTube.

All points to what infuriates me more than anything else… the blind eye of our industry and our focus on the “expendable” client base.

In a post on Agent Genius the other day, a contributor wrote about the “11 Things A New Agent Should Know”.  It wasn’t necessarily a bad post, or the first that struck me in such a way, but it was timely and set me off.

Of the “11 Things a New Agent Should Know” there was not one mention, not an inkling, to market knowledge and further education.  “Stay Positive”, “Be Yourself”, “Don’t be Afraid to be Wrong”, were the major points to be made.  Not one, “Get to Every Training you Can”, “Learn about REO Properties or How to Avoid Foreclosure”, “Educate Yourself on Current Financing” or “Budgeting for Home Purchase”.  Stay positive and don’t be afraid to be wrong… everything else will work itself out.

There is a group within the industry that I believe should be allowed to call themselves a Real Estate Advisor, and I am proud to say that I know many of them.  They represent a group that is both educated and empathetic… a group that puts their clients’ needs above their own.  These are the future of the industry in my uptopian-style rosy-glass future.

The two things I will end with are below:

1.  To Consumers – you deserve the best.  You deserve an advisor.  This is the largest purchase you will probably ever make and $250,000 is still a quarter of a million dollars.  Take your time and make an educated desicion.

2.  To Agents – strive to be or become a real estate advisor.  Take your job as serious as it truly is and understand that you are in charge of their financial future.  Don’t be good be great.

Matt Dollinger

The You Factor

]]> http://theyoufactor.com/2009/08/05/advising-the-face-of-real-estate-today/feed/ 11 http://theyoufactor.com/2009/08/03/five-things-id-like-from-inman-connect-09/ http://theyoufactor.com/2009/08/03/five-things-id-like-from-inman-connect-09/#comments Mon, 03 Aug 2009 22:09:03 +0000 Matthew Dollinger http://theyoufactor.com/?p=435 24″ x 12″ – Those are the dimensions of the “United Business Counter” I sit at while writing this post.  Barely enough room for my plethora of wired/wireless devices that take up one of the four wall plugs.  All I can say is, “God bless my IT department for setting up that Blackberry tethered modem program.”  They just saved me $25 bucks and an Oingo Boingo app that’s sure to wig out my laptop.

Is this Kansas?

My mind can’t be bothered with trivial detail this though!  Hell no man… no time. I’m heading to Inman!  The mecca of Real Estate and all things technology.  Glorious waterfalls of bits and bytes flow at the Palace or so I’m told.  Sunrises filled with countless ideas and ways to save the albatross that is the Real Estate industry.  I grit my teeth with anticipation as the girl with the MAC next to me, (I thought they never used up their batteries???) yammers on about her boyfriend’s lack of job offers.  San Francisco here I come!

I tend to overdo things… set my expectations a little too high (just ask Mrs. Homepartner!) and so I decided to boil my “wish list” for the Utopia that is Inman down to a simple Top Five Takeaways list in hopes of actually seeing my unicorn.  But first some history on why I feel this list is necessary.

1.  Not just innovation, but implementation
Gimme big, bad, cutting edge innovation… I have naughty-hot dreams about this kind of thing at home.  But give me some case studies with metrics and analytics as to HOW you have implemented it and WHAT your clients think of it.  I honestly believe that there’s a growing void between 1. real estate consumers and 2. real estate innovators.  Where each one of our latest and greatest applications may blow the minds of the resident “tech geek” I keep asking myself, “Will it play in Peoria” (and not just because I grew up there.)  Sure, blow my mind, but tell me the bottom line ROI, ROE, or whatever metric you’re using to gauge it’s usefulness as well.

2.  Don’t just tell me… Show Me
I’m really sick and tired of this ongoing brain-orgy of thought revolving around, “the future of brokerage”.  Shut up and show me.  Someone throw $250K at Rob Hahn and let him REALLY give your brokerage a makeover… PLEASE!  I’m tired of talk, I’m tired of speculation.  I want to hear someone tell me that they did cutting-edge-X and the outcome was mind-blowing-Y.  someone please grow a set and try something new.

3.  Talk outside of the Real Estate Industry
I’ve written a couple of posts about this topic (See posts here) and truly feel that the answer as to what ails us as an industry lies out there, but it sure as hell doesn’t reside at your competitor’s office.  I was truly excited to hear that the keynote address was being delivered by Jeremy Stoppelman from Yelp! as I’m a huge fan of their company.  But give me some more.  Let’s talk about implementing an @comcastcares model for real estate, or how you could do what Dell did in the early 2000’s and give your company a 180.  THAT’s what I want to hear!

4.  Give me some kind of measurable return on Social Media
I get it, I’m on it and I like it alot.  But, the next “coach” that gives a webinar on how to scrape leads from Facebook is going to find out why I keep my FOID (Firearms Owner Identification) card active.  Maybe I’m sensative to the subject because I work with agents day in and day out who are on the front lines suffering, but regardless I’m sick of the scavenging from gullible agents.  All I want to hear is that; agent Jim did 5 million dollars in 2008 and now spends # hours blogging, # hours on Twitter, # hours on LinkedIn consistently each week and has seen his business increase by 20% this year.  That’s it. Give me some numbers.

5.  Give me in a “true” brainstorming group
Don’t micromanage it with a preset adgenda… Don’t give someone with 20K follower on Twitter the mic and a powerpoint… Give me a room with 50 of the “smartest” people in real estate today (brokers, agents, and outside people too) and present us with 1. a problem 2. a bigass whiteboard and 3. an infinite supply of good coffee.  Videotape it, stream it live, open up a chatroom and we could conquer any challenge.  Hell, make it a monthly event and charge $19.95 to watch it and we’ll even create a profit stream.

6. (Bonus!) Give me face time my social network
Ok… so this is out of Brian’s hands and rests in mine alone, but this could actually supercede the previous 5.  Online is great, but F2F is the end goal in any relationship.  If I could tell you all that I have gotten out of my brain dumps with Rob Hahn, Eric Bryn, Marc Davison, Brian Boero and more… I would have to request more space from Host Gator.  This is what events like Inman are all about so reach out to those you have never met before and start like this.  “Hey @<insert clever Twitter handle here>… It’s <your clever Twitter handle> good to actually meet you!” It’s not hard, and I personally guarantee the akwardness will wear off after the first time.

Am I asking too much?  I don’t think so.  Although a teleporter ride from the airport would be nice.  Maybe next year… and if you’re out there in San Francisco and you’re looking to hook up and wrap… 773.354.9681 is the cell.  Looking forward to talking to you IRL.

Matt

In my last post, “Lovecats, Likeability, and a Plan to Save the World“, I discussed the teachings of someone very influential to me.  Tim Sanders, New York Times bestselling author of “Love is the Killer App“, “The Likeability Factor“, and most recently “Saving the World at Work” has been teaching the ways of the “Lovecat” for years.

As discussed in my previous post, the “Lovecat” method focused on approaching your life and business by “Obeying the Law of Abundance”, and sharing your contacts, knowledge, and compassion with those around you.  This mentality was a predecessor to the Social Web mentality that dominates the “proper” uses of social networks and collaboration today.  Because of this, and his forward thinking towards best business practices, I asked Tim to answer a couple of quick questions for me as to his prediction of business today and moving forwards.

(Q&A between Matt Dollinger “MD” and Tim Sanders “TS”)

MD – Describe how you feel the Likeability Factor and Love is the Killer App have changed for today?

TS – Both are still true.  The L Factor, in particular is important as it can look after you during tough times.  More than ever, we need to inspire others with our outlook.

MD – Any insight into the Lovecat method and the rise of Social Media?

TS – Giving rocks.  The Lovecat method (grow others, trust them to reciprocate) lies at the heart of social media.  That’s why I find Twitter and Facebook so valuable to society.  We must, however, give not take in our social media work.

MD – How would you suggest a company/business transition to “Lovecat” if they weren’t before?

TS – Trial and trial and trial.  If you will give giving a chance, and a reasonable long time line for return, you’ll get hooked on it.

MD – What do you feel the biggest challenge of business today is?

TS – Overcoming the scarcity mindset that’s setting in with the recession.  When we believe that “there’s not enough to go around”, we get fearful and inward thinking.  That’s the enemy to innovation.  It’s time to defiantly be hopeful.

MD – How do you feel Social Media has changed business today – forever?

TS – Social media has made the world more transparent and smaller.  Add video on mobile phones with easy upload and there are no more secrets.  This will force companies to focus on do-no-harm+do-some-good instead of simply being less bad or complying with the law.  Ray Anderson (founder of Interface) once told me that compliance was “being as bad as the law will allow.”

MD – What is the #1 question that is asked of you in your speaking and what’s your answer?

TS – Question: What do you do when others take advantage of your giving nature?  Answer: Look the other way, because it only happens about 10% of the time at the most.  Don’t let your ego tell you that giving never gives back because it does.

The “Law of Abundance” as Tim writes about often should, in my opinion, be the new “Golden Rule” for not only Social Media, but for business and personal growth as well.  Take a few minutes, view the videos below, and share your thoughts… This time the good guys WILL finish first!

Abundance Versus Scarcity Part 1 – Tim Sanders

Abundance Versus Scarcity Part 2 – Tim Sanders

Abundance Versus Scarcity Part 3 – Tim Sanders

Read more posts like this by Matt Dollinger @ www.TheYouFactor.com or follow me on Twitter here.