Brokers | Propel Your Business into the New Year!
If you missed last week's LogicClassroom presentation with our guest speaker Colleen Barry, you'll want to check out the video recording below!
Boston Logic's special guest speaker, Colleen Barry is a Real Estate Marketing Consultant. In this LogicClassroom, she talks about how to make your website a real business generator. All real estate agencies have websites, but most aren't being used to their full potential. Colleen discusses how to effectively generate new leads, convert current leads, retain current agents, and recruit new agents.
We host a new LogicClassroom every month! If you'd like to find what our upcoming classes are about, visit the LogicClassroom page of our website and sign up online!
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Posted on December 16, 2011 Filed Under Boston Logic, Boston Logic Services, Business and Entrepreneurship, Inbound Marketing, Lead Capture, Lead Generation, Lead Generation Classes, LogicClassroom, Online Marketing Classes, Personal Branding, Real Estate Internet Marketing, Real Estate Lead Generation, Real Estate Marketing, Real Estate Search Engine Marketing, Real Estate Search Engine Optimization, Real Estate Web Site, Real Estate Website Features, Real Estate Websites | 1 Comment
How Are Top Producing Agents Getting Ahead of the Curve?
What Matters and What Doesn't...
We came across a recent study conducted by Active Rain that we found surfaced some important and thought-provoking results. The study was based on 1,758 Real Estate professionals who were surveyed to help shed some light on one key question:
What separates the 'top producing' agents (those earning more than $100,000 a year) from the back of the pack (those earning under $35,000 a year)? Some of the results were fairly predictable, but others we found quite surprising.
Study Group Stats & Demographics:
- 22% of respondents were 'top producers' and 21% fell below the curve
- 58% of the 'top producers' were men (study group gender was split evenly)
- On average, 'top producers' had 11-20 yrs. of real estate experience (study group average experience was 6-10 yrs.)
- Study group age had no bearing on annual earnings of the agents (study group average age was 51-60 yrs. old)
Here's what we found most interesting in what seems to have the greatest impact on annual earnings amongst agents...
TECHNOLOGY: Top producers invest 6x as much.
Where does the spending go?
1. A top notch IDX site - the reason? Well, we know that a good website with an intuitive search (and integrated MLS data), is the backbone of attracting quality clients and capturing their information when their foot's in the door.
2. A CRM System (i.e. Lead Management System)* - turns out that being able to systematically manage a database of leads (or, the lifetime of customer relationships), was an integral part of the top producers' success and ability to build a volume business.
3. Email Marketing - top producers aggressively use email marketing to touch their clients more often (sending automated property listings via their IDX searches) and are also more likely to use email newsletters.
*This was the most dramatic finding in the survey results - nearly twice as many top performing agents use a CRM system than those below the curve.
The study also found that top earners are more aggressively using forms of 'broadcast' social media (any social channels which are public to all on the Web) - i.e. YouTube & Online Video (which we found somewhat surprising as other research seems to suggest that a very small number of agents are actually leveraging video to attract new clients, although potential home buyers are more likely to close with an agency that provides video listings over one that does not), Blogging, Twitter, and LinkedIn.
Overall, the study showed that top producing agents spend 10x more on marketing, (specifically on online marketing and lead generation tools/campaigns).
Survey Conclusions...
We can conclude that what really seems to make the difference for top earning agents is the investment they make in themselves (as an extension of their business) and their ability to efficiently manage their time - time is money to these successful agents, making it a no-brainer to invest in programs and applications that streamline daily operations and produce exponential returns.
Admittedly, this is music to Boston Logic's ears- and supports our very own recent study on the difference of the total transactional value (summed prices of all homes sold and bought) between user's of our Sequoia Website Platform and the average agent/broker. Guest what we found? On the buy side, our clients using Sequoia average 33% more transaction value than the average agent on the buy side, and 43% more on the sell side (read more!). It would be very reasonable to assume that Sequoia's integrated CRM, CMS, IDX, Blog, and Social Media components are a direct causality of higher earnings per agent.
Contact us today for a no-pressure demo - see how Boston Logic's Sequoia System can increase your earnings too!
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Posted on December 1, 2011 Filed Under Boston Logic News, Real Estate Internet Marketing, Real Estate Marketing, Real Estate Websites, What's New | 1 Comment