Picture courtesy of "Not the First Noel" via Flickr

It was during the follow up to the opening Keynote at BlogWorld Expo 09 when this idea came to a head.  On the stage were big hitters of both new and old school journalism including:

Brian Solis – PR and Web 2.0 mega celebrity

Jay Rosen – journalism professor at NYU

Hugh Hewitt -  American radio talk show host

Don Lemon – CNN anchor and journalist

Joanna Drake Earl – President, New Media, Current TV

The discussion entitled, “The Death And Rebirth Of Journalism” focused much around citizen journalism, it’s benefits to media, the problems due to it, and where to go next.  It was a heated discussion (Lemon – the only “traditional” channel there – who I was incredibly impressed with) fueled on by the media-blitz of Balloon Boy the day before.

I took away three major points from this session (according to my notes):

1) Blogging and Micro-blogging allow the individual (viewer) to choose what they find is important in the world news feed.

2) Traditional media is still focused on a cost structure model – hence why they will highlight “minor or pop” news stories to gain exposure = costs.

3) Distribution issues of news – does the world view (CNN, NBC, Etc.) these major hubs of distribution as “the” most credible for news/current events?

And so – a question started brewing in my mind with regards to this:

“Why wouldn’t CNN or another traditional media player:
1. Put together a “journalism” training class (i.e. how to write, how to quote sources, etc.)
2. Encourage their most “raving fans” to take these classes
3. Turn them loose as “certified” citizen journalists
4. Reap the harvest of “on the ground” stories, well written, and sourced by sending them to editorial?

Imagine, in my case being a huge Keith Olberman fan, MSNBC taps you on the shoulder and says to you:

“Matt, we’d really like you to become a MSNBC citizen journalist, take a couple of basic classes on composition and source citing, write/film/video all the news you feel is news, and then joint publish it with our editorial staff.  It will be great exposure for you as a blogger, bring you a ton of readership, and get your local stories out to those who want to know about them.”

Sounds like everyone wins right?  Not so fast…

In the next session I actually got to pose this question to Robert Scoble who (kind of) answered it after I pushed him on it.

<Paraphrased> “We don’t need big media.  That’s the beauty of social media.  The big brands are dead in the water.  No one “watches” that anymore.  When I was with Fast Company magazine my blog readership didn’t go up at all.  I have 50K twitter followers that are reading my stuff anyway.  Why do we need to “teach” any kind of journalism?  The kid with a $1000 camera can be a video producer on his own.”

Disappointment… Not only did he trivialize the idea I suggested – he actually called a Spade a Spade.

It’s US versus THEM – New Media vs. Traditional – and be damned the idea of actually working together.

Tweet of the day on this subject – “RT @saulcolt: People keep talking about old media & new media…we need to start thinking of just “media” and make it great. #bwe09 via @erin_bury”

I don’t think it would have been so black and white if I hadn’t attended a fantastic keynote the night before by Chris Brogan.  I had never read much of paid Chris alot of attention until he brought up my all time favorite author Tim Sanders - and his book “Love is the Killer App.”  In this book Tim talks about becoming what he calls a “Lovecat” by fulfilling 3 simple tasks.

1.  Share your Knowledge

2.  Share your Network

3.  Share your Compassion

When I sat listening to Robert speak about the question I had presented, it struck me that, “Collaboration for these guys is absolute Bullshit – although it would be in the best interest of the consumer.”  It’s not about “how do we get the BEST news to the public”, it’s about, “do them come to my site, your site, or who’s site to read my “take” on the topic.  It was truly truly disheartening.

In the Dachis Group whitepaper, “Social Business Design”, Peter Kim explains this legacy system of “Us vs. Them” excellently.

“Us” Vs. “Them.” Competitive strategy drives businesses to hunker down behind the physical walls of an office and the virtual walls of a brand. Customers are seen as “targets” whose participation is limited to handing over money. Competitors are seen as “enemies.” Suppliers are viewed as “necessary evils.” This approach to business may produce short-term results, but at the expense of true collaboration and long-term results – everyone benefits when these relationships are viewed as an ecosystem of related collaborators rather than competing interests.

It’s humbling and often-times disheartening to come to this kind of realization.  That the “Us vs. Them” mentality prevails even with supposedly forward thinking companies or people.  Could you imagine the result if someone of the stature of Robert Scoble gave “how to video worthy of the national news” seminars?  Or if an editor at CNN did webinars on “how to write copy like a NYU journalist?”  I think the PR alone would be worth any words of wisdom that your competitors might pick up.

Many will agree with Robert and say that, “the audience you’re looking for isn’t watching CNN” and I will disagree.  Especially at an event like BlogWorld it’s easy to get caught up in the whiz-bang, what’s next society and forget that 90% of Americans still turn on the television or read the Washington Post instead of the Huffington Post.

Collaboration could possibly be the cure all to what ails us – but until we dump the “Us vs. Them” mentality and start operating from a level of abundance (and strict ROI) I think we have a long way to go.

Image courtesy of themiddleway.net

Recently I had  an incredibly meaningful conversation on Twitter involving Jeff Turner (@respres) and  Ines Hegedus-Garcia (@ines) where we discussed Social Capital versus Social Karma. The conversation was actually started by Kim Wood (@kimwood) with a simple tweet stating, “Whuffie or Building your Social Capital should not be done with the intention of “building your social capital”. I’m jussayin.” She rocked my world with this and the discussion began.

For me, this hit the nail on the head because I have always been a little leery of how people were using the term of “social capital”.  I’ll disclose that I have read “The Whuffie Factor” as well as the predecessor of this with regards to Social Capital, “”Down and out in the Magic Kingdom”. But this isn’t a book review, this is simply my take on Social Capital, what I will refer to as Social Karma, how they affect one another and more importantly that they two are not mutually exclusive.

Ines has written a brilliant post on our conversation over at Agent Genius entitled, “Social Media Politics can Suck You Dry” which sparked a wonderful conversation of comments.  It’s written from her point of view and perfectly honest.  As she says in her post:

“There is so much talk about being genuine and doing things for a greater good without expecting anything in return, but to tell you the truth, most of us are here to make money and to improve our business.  This doesn’t mean we can’t have fun in the process and show our personalities, but I’m not Ghandi or Mother Theresa – I volunteer my time, I raise money for charities and truly believe in the Universal Law and Power of Intention – but my time here has a goal and I have strategies for business as should you.”

God bless you Ines – you are totally on point and have spoken the truth about your intentions on social media.  She succinctly puts the difference between Social Capital and Social Karma into a beautiful one word (and very Zen) sentence.

Social Capital is a way to quantify your presence and the depth of your involvement whereas Social Karma goes so much deeper than that.

Karma and Capital

Social Capital has many different definitions and has been around for years prior to the best seller “Whuffie Factor”.  It has not always been positive, however, and its negatives are discussed in depth in the book “Down and out in the Magic Kingdom”.  In it (and other books) the negative elements of secular Social Capital are explored in the terms of Bridging vs. Bonding Social Capital.  This, however is another post for another day… (but can be referenced here)

Quantifying or calculating your Social Capital is a huge discussion with regards to Social Media/Networking today.  It is often times discussed as a piggy bank where deposits are made (by a means) for future withdrawal (i.e. asking for something in return).  What often times is NOT discussed is your potential Social Debt (or Karma) when operating in this social capital marketplace. Where this is the means to the end, I believe that what affects these deposits and debt is where my idea of Social Karma comes into play.

But what is Social Karma?

First of all, Social and Karma are kind of redundant (as pointed out by @repres) since Karma already has to do with society as a whole. But I want to use Social Karma to indicate that I am discussing Karma with regards to “Online Social” interactions.  To understand, (and these are my opinions only), I think we need to understand what the principles of Karma really are.

“Karma is the universal principle of cause and effect. Our actions, both good and bad, come back to us in the future, helping us to learn from life’s lessons and become better people.” – Wikipedia

Social Karma is then, in essence, the overall world in which all things reside with regards to a society.  Social Capital; respect, influence, and all of the other benefits and negatives actually reside within the world of Social Karma.  Karma is basically energy. One person throws out energy through thoughts, words and actions, and it comes back, in time, through other people.

The process of action and reaction on all levels—physical, mental and spiritual—is karma. One must pay attention to thoughts, because thought can make karmas—good, bad and mixed.

A big part that is often overlooked in this is that Karma is both good and bad.  It’s not ALWAYS your positive actions and rewards associated…  your karma can also be something selfish or negative that adds to your overall cosmic debt.  So with this being said, Social Karma (in speaking about Social Networks/Networking) is actually the MEANS, or one way, in which one can actually affect their Social Capital (or make deposits into said piggy bank).

“Karma is the best teacher, forcing people to face the consequences of their actions and thus improve and refine their behavior, or suffer if they do not. Even harsh karma, when faced in wisdom, can be the greatest spark for personal growth.”- Wikipedia

So here’s my thoughts on this:

Social Capital is what you seek
(influence, reach, positive or not)

Social Karma is HOW you get there
(consider them guiding principles, ethics, beliefs, or your energy)

There are three types of karma in Hinduism:

1. Sanchita karma -  the sum total of past karmas yet to be resolved;
2. Prarabdha karma – that portion of sanchita karma that is to be experienced in this life; and
3. Kriyamana karma -  the karma that humans are currently creating, which will bear fruit in future.

Sanchita Karma (Sum Total Karma or “Accumulated actions” or the Arrows in the Quiver)

*This is your total cosmic debt. Every moment of your every day, you are either adding to it or you are reducing this cosmic debt.

Praarabdha Karma (Fructifying Karma or “Actions began; set in motion” or Arrows in Flight)

*This is Karmic Template of that portion of Sanchita Karma that is ripe enough to be experienced by you and allotted for this lifetime for you to work on.

Kriyamana Karma (Instant, Current Karma or “Being made” or Arrows in Hand)

*This is the daily, instant Karma created in this lifetime and that we create in our life because of our free actions. These are debts that are created and worked off – i.e. for example, you park your vehicle in a ‘No Parking Space’, you get caught and you are fined (punished) immediately.

What the hell does this all mean?

An 800lb gorillas in the room that no one usually discusses, (except Ines!),  is what you seek through gaining social capital, or what is your intention for growing it?  Whether it be business, respect, more readers to your blog, speaking engagement opportunities, or simply ego-driven popularity – I would venture to say that everyone has some kind of reason for building social capital.

This isn’t necessarily a bad thing, but as @joespake said the other day “there seems to be alot of posturing and less actual genuine participation”.  As a business coach, I would even venture to suggest that you make sure you have some kind of strategy for building this.  But does it have to be your defining ultimate task?

I think this is the million dollar question.

The idea of “Whuffie” is based on the idea of a “post-scarcity” economy as described in “Down and Out in the Magic Kingdom” and we are far from that in today’s society of  real life.  People still need to make a living and close deals to pay the mortgage, (regardless of social capital I’m not thinking that your bank is going to accept it to pay off your mortgage).  Also, we are all human beings and often times think about ourselves first (which isn’t always bad… as Ines says we are not Ghandi or Mother Theresa).

I think that this is all about balance (and yes this is me trying to bring it full circle).  Personally, I’m not looking for any kind of financial gain through my online contributions, but like anyone else I enjoy being quoted, tweeted, asked to speak at an event, etc.  It benefits my self-esteem, my self-worth, and makes me feel good by doing it.  But at the same time these actions benefits others because I focus on providing value to them through my thoughts, words, presentations, teachings and research.

Some might take a look at this sentence above and say, “wow – that’s egotistical or self serving.” But this is me being honest and open about the goals of my Karmic Actions and truth – is me being genuine and authentic through transparancy.

In closing and through much thought on this topic, I think that Social Karma and Social Capital are intertwined regardless of your take on my post.  Whether your are a “Whuffie” fan or not, Social Capital and Karma are just revisits to the Golden Rule of which we were raised on as a child, “Treat others as you would want to be treated.” I think that by approaching Social Karma as “the defining principles” as to how you build Social Capital, it allows us all to formulate (one again) guiding principles or guidelines for your online campaign.

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.

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.

The real estate market is a changing animal, and one that those aligned with it must adapt to, or be left behind.  In this presentation done at the Chicago Sparkt event, I discuss the future of the real estate brokerage model, the future of our industry, and the rules for our changing industry.  Social media and other technology will influence our marketplace and only be embracing CORRECTLY will we be in a position to capitalize on this new landscape.

(FYI – the projector was disabled for the first 10 minutes!)

Matt Dollinger – The Rules for a Changing Game from SPARKt on Vimeo.

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/2009/04/30/the-humanizing-of-the-social-web/ http://theyoufactor.com/2009/04/30/the-humanizing-of-the-social-web/#comments Thu, 30 Apr 2009 19:21:24 +0000 Matthew Dollinger http://theyoufactor.com/?p=261

SPARKt Chicago Technology Conference

Today I had the opportunity to speak to a phenomenal Chicago organization called SPARKt founded by my friend Kit Mueller.  This event has proven to be THE real estate (and outside industry) technology event of the midwest, and today did not disappoint.

For my presentation I was asked to discuss “Rules for a Changing Game” and how social media and other influences will forever change the real estate industry.  Thanks to a couple of highly influential people by the names of David Armano (read his blog here) and Peter Kim (read his blog here)I was able to put together the following presentation.

The Humanizing of the Social Web for Business 4-29-09 – Dollinger

Many of the thoughts and ideas for this presentation came from the below stroke of genius orchestrated by Peter Kim in his whitepaper entitled “Social Media Predictions 2009″.

Social Media Predictions for 2009

As I said in my presentation, I believe that the biggest obstacle the real estate industry faces today is itself.  By looking outside the box to the individuals included in Peter’s whitepaper, I believe the answers are there waiting to be discovered.

What are your thoughts?  Share your comments below.

(A further discussion of the visual for Online Brand Communication will be posted shortly!)

Matt Dollinger

The You Factor

Twitter Ten commandments

The Ten Commandments of Twitter

(Real Estate Version)

1. Thou shalt completely fill out thy profile
2. Thou shalt read Nik_Nik’s E-book before posting (Download it Here)
3. Thou shalt LEARN from those you follow FIRST
4. Thou shalt embrace a mentality of COLLABORATION
5. Thou shalt SHARE thy knowledge with those around you
6. Thou shalt READ thy article before sharing
7. Thou shalt NOT SPAM THY LISTINGS TO TWITTER
8. Thou shalt SHAMELESSLY PROMOTE thy new blog post
9. Thou shalt not base your Twitter-worth on FOLLOWERS
10. Thou shalt HELP new Tweeps learn these 10 Commandments

Share your additional Twitter Commandments below and share these with your Tweeps!

Matt Dollinger

The You Factor

Nicole and Reggie Nicolay (@nik_nik and @cyberhomes) have completely outdone themselves and put together an amazing (and free) E-book entitled Everything You Want to Know about Twitter for Real Estate.

I have to admit… that when I first got the emai a shiver went up my spine.

Dear God.  First The New York Times puts a story out today about all of the anchors who Twitter, then INMAN puts out a post about how all agents should get on Twitter, AND NOW THIS?  Great, so now we’ll have a million Tweeple out there spamming their listings to the Twitosphere and we’ll further our stigma.

But, after a quick download and a quick flip into the PDF Annotator, I’m writing this post and have to say, “Reggie and Nik Nik have completely outdone themselves…  this is a fantastically written whitepaper that EVERYONE who even thinks about Tweeting in Real Estate should read.

So instead of going on and on and on… as I can do… Follow THIS LINK to the Cyberhomes page, put in your info, and download the book.

The last thing I’ll say is, “Listen to what she says… she’s a schoolteacher.”

Lots of love to the two of you.

Matt Dollinger

The You Factor

Twitter apps are all over the place.  Whether hooking it up to FriendFeed so that your updates feed to your Facebook status, or a simple widget that resides on your blog to keep your readers up to date (see right sidebar!) these applications allow you to utilize Twitter more effectively and really harness the power of the site.

In  his post, “47 Awesome Twitter Tools You Should Be Using“, social media guru Deontee Gordon (@deontee) outlines the many Twitter applications available and how you could utilize them (a great job in doing so I might add – since many tell you WHAT they are but not HOW to use them).  In the true spirit of collaboration, and as Deontee so sweetly puts it:

So, to help make things easier, I’ve searched the Web, combed through the blogosphere, and rummaged through my del.icio.us bookmarks to sort and list some of the best Twitter sites and services the Net has to offer. This is by no means a definitive list, but I think it’ll serve us bloggers, Internet marketers, entrepreneurs, and social media junkies well.

As for me… I’ve boiled my applications down to TwitPic for pictures, Twitterberry for my blackberry, Twubble for finding who to follow, and Tweetdeck for my desktop Twittering.

He also has a great list of blogs that he’s reading as well at the lower right hand side of his site, so take a minute and check them out as well.

Thanks again to Deontee for his great work and find me on Twitter @mattdollinger