Technology–Information Technology–People Skills

ARTICLE WRITTEN IN 2003

Recently in an article called “The Technology of Personal Service,” Stephen Baird started with the following statement. “The impact of technology on the practice of real estate brokerage is undeniable, and it is changing our business in profound ways.” He added, “what we as real estate professionals need to understand is that our business is not about information, but rather about service.” “Today, effective use of available technology can certainly get the consumer quite literally to the door, but it still takes human interaction to get them across the threshold and into the home.”

Often times the buyer shows up really well informed from the Internet, with a few choices to see, after researching the neighborhood, the schools etc. The Internet was your personal assistant. Now the real test becomes your people skills, and treatment of your new prospect.

For years real estate agents have attempted to communicate with clients and potential clients in a timely manner. That is why most had several phone numbers on their business cards, and carried all types of “accessories" to be found, such as, cellular phones and various types of pagers. However, most forgot one primary thing. One of the most critical problems the public has had with REALTORSâ is finding them, actually connecting with them on the first call, and feeling they are accessible. REALTORSâ realize the importance of being accessible, and have in the past listed numerous phone numbers on their cards, because they do want to be found. The challenge for clients and potential clients has been the frustration of calling one number after another and leaving messages, not really knowing which number to call first. In fact, industry statistics found that it took at least three attempts before finding a REALTORâ. This was born out many times when the REALTORâ would find the same message on voice mail at the office, voice mail at the end of their cellular phone, and sometimes the same message on their home voice mail. Today they get the same message on email and various voice mails.

That is why most REALTORSâ have used several phone numbers on their business cards, and carried all types of “accessories" to be found, such as, cellular phones and various types of pagers. However, most forgot one primary thing. The public gets frustrated making several calls to find the REALTORâ.

New technology has helped the information and education side of the business. Now there is new technology to provide REALTORSâ a solution to the availability problem for callers. ONE NUMBER “follow me” service is now provided on a low-cost basis and is a great solution to the communication problem. The combining of voice mail, fax documents and email with Unified Communications, and the “follow me” service enables REALTORSâ to publish one number on their business card, which is a “virtual office.” “Follow me” service with one number can find you simultaneously at your cellular phone and your home office, and you can prioritize your calls to take control of your communications. This enables you to take the important calls and send others to voice mail for later follow up. REALTORSâ can now avoid missing or playing telephone tag with the important or critical callers. In fact, they are able to take more than one call at a time by putting the first caller on hold, after hearing who is on the line for the second call.

The Internet and information age has arrived, and now the communication side of the business has the technology to enhance your people skills.

Technology-Communications from article written by: Arnie Goldberg 2003

Latest Trends in the Real Estate Industry 2001

ARTICLE I WROTE IN 2001

More and more broker/owners are considering the huge costs of “bricks and mortar.” Providing office space, desks, phone systems, and phone lines for agents who average only 9 hours per week in their office is a major expense. Broker/owners are looking for alternatives. Most successful agents have home offices with all the needed capabilities and access via computer to the multiple listing service and to the world. Pressures continue to reduce commissions, which are squeezing the revenue side of the business, and one way to offset this squeeze is to reduce operation costs.

With the incredible speed of technology changes, increased dependence upon data sources both to the consumer and real estate agents, and more consumers gathering data before contacting the agent, a new threat has arrived in the industry.

Agents are now experiencing the challenge of bringing the personal touch back to the fore. One of the most critical problems the public has had with agents is finding them – actually connecting with them on the first call and feeling they are accessible. Agents realize the importance of being accessible and have, in the past, listed numerous phone numbers on their cards because they want to be found. The challenge for clients and potential clients has been the frustration of calling one number after another and leaving messages, not really knowing which number to call first. In fact, industry statistics found that it took at least three attempts before finding an agent. This was borne out many times when the agent would find the same message on voice mail at the office, voice mail on their cellular phone, and even on their home business line voicemail. Today they get the same message on email and various voice mails.

Several real estate offices are now turning to new communication technologies which create an efficient way for agents to prioritize their calls and take only the important calls, without being interrupted with calls that can be handled at more convenient times. Callers benefit from the service also. For example, combining the new One Number technology with “follow-me” capabilities, allows clients and potential clients to call only one number. From the agent’s side, he or she can connect with callers when they choose, no matter where they are, or send the caller to voice mail or transfer a caller to an assistant or another telephone. To assist the agent in making the right choice on how to handle a call, the agent hears the caller’s name announced before connecting the call. Additionally, the One Number technology combines live connected calls, voice mail messages, fax documents and email in one convenient email account. The agent can then access voice mail messages, fax documents and email at convenient times.

This combining of communications also gives agents the ability to save all communications with a client or potential client (email, fax documents, and voice mail messages) to a disk and place it in the customer file. Broker/owners and managers are excited about this, because it is very helpful should there be any liabilities in future legal situations.

The cost of a One Number-type virtual office repays itself in increased efficiency, time savings, and the ability to connect live with those callers important to your business. It also overcomes the frustrations callers face when looking up and dialing several phone numbers to attempt locating the agent.

The use of One Number “follow-me” services reduces the need for expensive telephone equipment additions, and extends the life of existing telephone equipment in offices.

Latest Trends in the Real Estate Industry from article written by: Arnie Goldberg

Quantity versus Quality

How many times have you been told “it’s a numbers game,” and we then strive to touch as many people as we possible with our message. These “numbers” can be people we know within our sphere of influence or complete strangers, as we strive for “volume” databases.

Is that all bad? Not really depending upon the cost and time spent developing that “volume” database. Let’s face it, leads often flow from that huge database and some even get converted into revenue and profits.

But there is a difference between your message reaching thousands and creating true relationships. How many sales a year do you need to survive, to reach a realistic profit goal, and/or to reach a spectacular revenue/profit goal? If you need 15 sales for survival, or fifty sales for your spectacular goal, in either case you really only need a few handfuls of clients.

Besides the mega database, I suggest you concentrate on building two new relationships a week and within a year you have 100 solid relationships plus the people they know with whom they network. Now we have to determine the keys to developing those two relationships per week.

A local networking organization that is very successful, touts that you have lunch with two people every week in an attempt to get to know them better, beyond the external “hi, how are you doing.” Learning about their business life, their family life, likes and dislikes, hobbies help establish a true relationship. The most important fact I suggest you learn is what makes a good customer for them, therefore what is a good lead for their business. Nothing begins to better create a business relationship than providing a couple good leads for them. The sincere attitude of helping them create business is like gold in today’s fast-paced non-caring business world.

Another way to create a solid business relationship is to provide experiences that have created successful results for business people you know. This becomes "helpful hints" for business people and is well appreciated.

Arnie Goldberg

Latest Book

http://giveyourdogatreat.webs.com/

ag@loyaltybuilder.com

BUILDING A TEAM

What is the key to building a successful team?

ATTRACT... look for people that have experience and capabilities different than you

EXPANSION... find people that challenge your thinking, that a willing to provide their opinion

STRATEGIC...team members do not have to be employees, they can be strategic alliances with outsiders

ALLOW TIMETABLE... building a team may take some time to develop and create a comfortable atmosphere

PARTICIPATION... teamwork is key to the operation of a group and open communication must be encouraged... all participants will be more productive if they feel a part of the team

SUPPORT... building mutual trust will be the result of giving your team members all the support they need

LEADERSHIP... leading a small team is no different than leading a huge corporation... vision and good communication are the two key traits of a successful leader

Remember the key is to recruit, develop and gain from other's experience, insight and strengths.

Arnie Goldberg EVP Loyalty Builder LLC ag@loyaltybuilder.com (317)569-0422

More Loyalty Tips

It has been stated , most companies designate up to 70% of their marketing budgets for acquiring new customers. The other 30% is targeted to their existing customer base. I contend the targeted marketing to your customer base leads to creating new prospects through the existing customers. Targeting those leads over time will produce new customers with a much greater return on marketing. Let's face it, marketing executives must always consider return on marketing expenses, just as all executives must be concerned with the bottom line and the return on investment.

Successful individual professionals strive to build a client base, maintain that client base and work towards repeat purchases and referrals. Without Customer Loyalty the client base will gradually be depleted.

Customer retention is considered by both scholars and practitioners to be one of the critical success factors for businesses with its implications for cost savings and profitability . Many have stated the cost of acquiring new customers is five to seven times that of retaining existing ones.

My latest book on Customer Loyalty called: "Give Your Dog A Treat"   http://giveyourdogatreat.webs.com/  

How Your Digital Footprint Benefits the Consumer

What is social media?

Many view Social Media as adults playing around like teenagers on MySpace etc.

Many want to be more private and afraid or unwilling to be so public

Many will not ever use a credit card online

Yet Social Media is taking over as an incredible source to build business relationships, build trust and build new business

Social Media is actually a platform (free platform) to create a digital footprint to provide information, and specifically for realtors create relationships with other realtors around the country

Different Social Media platforms are more comfortable to some than others; therefore you need at least a presence on each of the major platforms

Creating yourself digitally

Profile set ups

•  Facebook
  
•  LinkedIN
  
•  Facebook Group Page
  
•  Facebook Fan Page
  
•  Twitter
  
•  Plaxo
  
•  Website
  
•  Blog
  
•  YouTube Profile
  
• Local Social Media (example: Smaller Indiana)
•  RSS Feed
  
•  Ping.Fm and Friend Feed Setup
  
•  iPhone and/or Blackberry

 

Are you using the right tools?

Over 200,000,000 Facebook users

 Facebook is great for creating relationships

 People only purchase from people they trust

 LinkedIn is primarily a Social Media resume for building credibility

 Twitter is a fast way to “spider” out to thousands of prospects

 Plaxo also creates a credibility platform and some relationship building

 Websites and Blogs are landing pages with information

 iPhone’s  and Blackberry’s provide instantaneous communication devices

 Ping.Fm and Friendship Feed are ways to help control your digital footprint and lessen your time factor

Social media and customer loyalty

There is a difference between a satisfied customer and a loyal customer

A loyal customer fosters repeat business, referrals and provides you with additional profits

The day of the “refrigerator magnet” is done

Nothing replaces the one on one personal touch

Social media provides the new technology for continual personal touches

Do we advocate discarding your traditional methods of contact?  NO

The added value of Social Media (at no charge to you) is a sound business practice

 

 Arnie Goldberg

EVP Sales, LoyaltyBuilder LLC

ag@loyaltybuilder.com

Cell phone (317) 489-5337

Book Site:  http://giveyourdogatreat.webs.com/

Customer Service Retention Strategies

Customer Service Retention Strategies

Successful professionals strive to build a client base, maintain that client base and work towards repeat purchases and referrals.  Without Customer Loyalty the client base will gradually be depleted.

Customer retention is considered by both scholars and practitioners to be one of the critical success factors for businesses with its implications for cost savings and profitability.  Many have stated the cost of acquiring new customers is five to seven times that of retaining existing ones.

There is a science to understanding client loyalty, to recognizing the value of loyal clients, plus creating and maintaining loyal clients. 

Keeping a client year after year is attaining customer loyalty that involves fitting together several pieces of the relationship puzzle. One click of the mouse and a few keyboard strokes and your satisfied customer possibly just left to a competitor.

ESTABLISH REINFORCEMENT OF FAVORABLE EXPERIENCES

You need to consider all of the purchase emotions to help create an atmosphere that carries favorable experiences forward into the future.  Then the individual professional establishes activities that reinforce those favorable emotional experiences.

Knowledge is critical in both finding and keeping customers.  The more you know regarding purchasing habits and motivations, the greater chance at success.  Diversity is a major consideration in today’s business climate.   The reaction of your customer to emotions plays a huge roll in future activities to reinforce the emotional profile of your client.  Many times the emotional profile of your customer is more important than the business profile, as to knowing what motivates your customer now and in the future.

Arnie Goldberg

ag@loyaltybuilder.com 

http://giveyourdogatreat.webs.com/

facebook: http://profile.to/arniegoldberg

Customer Service Retention Trends in Social Media

Keeping a client year after year is attaining customer loyalty that involves fitting together several pieces of the relationship puzzle. There is a science to understanding client loyalty, to recognizing the value of loyal clients, plus creating and maintaining loyal clients. 

Research in the mid-to-late 1990’s held the position that customers who were satisfied were more likely to remain loyal to a company.  When organizations delivered a customer experience that met their needs, they returned to that organization more frequently than competition.  Current thought reveals only the top echelon of satisfied customers remained loyal to an organization.

I have found while teaching a course on customer retention, the best starting point is to have the students answer a few questions.  This process helps a person realize the many factors that affect customer loyalty, and how these factors play upon purchase decisions in their own lives.  The survey thought process also shows how we are all different and have different motivations, which is important in developing customer loyalty strategies and programs. 

Today there is a swing back to gaining knowledge of the customer and their behavior patterns, as a key element in  designing loyalty marketing plans and strategies.  With the virile expansion of Social Media, and the younger adults use of Social Media as a daily communication tool, this phenomenon becomes an opportunity for businesses to maintain contact and provide current information to existing customers .

Traditional means of advertising and flows of continuing information to existing customers are losing their effectiveness.  Advertisers are not seeing positive results from newspapers and print media and have reduced expenditures in those media.  Social Media provides free platforms and the advent of “permission based” communication, with a huge word-of-mouth virile scope.

People are now in a hurry, not only the younger generation, but the fastest growing segment of social media platforms is said to be those from ages 40 to 55.   They read news from the internet in brief “tidbits” of information, and they are multi-tasking with several software applications open at the same time on their computers.  Often they are switching in the middle of a news article when a message arrives and often never return to the article.

While surveying several social media users, I found they build trust within their social media friends and rely heavily on these friends for purchasing information and company reputation.  Positive flows of purchase satisfaction can provide a major component of customer loyalty programs by company marketing departments.

Three Factors that Influence Customer Loyalty

1.       Customer satisfaction has to do with prior expectations of quality and customer service then comparing those expectations to actual performance received.

2.        Perceived alternatives has to do with the difficulty and/or the cost of moving to a new vendor or service provider.

3.       Business relationship deals with how strong the business relationship is perceived

Trends in the growth in Social Media are providing platforms to aid in all three of these customer loyalty influences.  Businesses must begin and continue to use the important avenue of communication.

Arnie Goldberg                                                                                                                             ag@loyaltybuilder.com                                                                                                                                                                                 latest book "Give Your Dog A Treat" ... strategies on building more loyal customers /generating more referrals   www.giveyourdogatreat.com