Real Estate Information Archive

THINKING ABOUT MAKING A CHANGE? THESE ARE QUESTIONS YOU SHOULD ASK WHEN INTERVIEWING NEW COMPANIES!

We all have two companies in our flives, "the one we are at, and the one we would be at if we weren't at the one we are at." It pays to know what companies offer you. If you are talking to a company, who is in the position of power? You or the Manager?
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I am a firm believer that "Real Estate is a local service business done by local Realtors with their Sphere of Influence, and their Marketing Image." It is not about the company or their brand. The company works for you, not the other way a round.

Here are some questions you should ask about your current company and any company you might consider moving to:

About Environment
Is the office conveniently located?
Does the company offer multiple locations for me to work and meet clients?
Can I access the buildings 24/7?
Do you have company computers I can use?
Do you have the latest equipment?
Do your conference rooms have large screen monitors that I can use with my clients?
Do you have enough conference room space?
Do you have high speed internet access?
Do you have wireless access in all locations that I can use?
Is the office environment “high energy”?
Are the Staff friendly and supportive?
Is the office professional in appearance?
Is the office easily accessible to my clients?

About Compensation
What is the commission split?
Is there a cap on how much I pay the company?
If so, how much?
Is there a franchise fee or royalty?
If so how much?
Is there a cap on that?
How much do you charge Husband/Wife teams?
Do you have an economic model for Teams?
If so, what is it?
If I need to adjust my commission in order to facilitate a transaction, do I have complete freedom to do so, or does the Broker have control of what I charge?
Do you have preferred pricing with vendors?
If so, are those savings passed on to me or does the Brokerage get the benefit?
For any referrals I have either incoming or outgoing, do I have to run them through a company relocation company and pay a fee?
If I decide to leave your company, do I get to take all of my listings with me?
If I decide to leave your company, do all of my pending transactions stay at the then current commission split, or does it change?
If so, what is the split?

About Wealth Building Opportunities
Is the company focused on building my personal wealth?
If so, how do you do that?
Does the company offer a form of passive income opportunity for me?
If so, do I get to vest and keep that income?
If I leave does it change?
How do you treat my personal transactions?
Is there a limit on how many I can do annually?
Do you own any affiliated businesses?
If so, can I be compensated by supporting them?

About Training & Education
Do you offer training?
Is it in-house or is it an outside vendor?
Is there training beyond just new agent training?
If so, what does it cover?
Is there business training as well as sales training?
Is the training FREE or is there a charge?
Do you provide Clock Hour Training?
Is there a charge for that?
Do you have dedicated training facilities?
Do you have a training calendar?
Do you provide online training?
Do you provide me with systems and tools for FREE?
Do you provide me with the scripts and dialogues that work in the current market?
Do you provide me with statistical breakdowns of the market, weekly?
If so, can I use them for my Clients?
Are they FREE or is there a charge?
Do you provide accountability?
Do you provide coaching and consulting?
Is there a charge?
Do you provide national educational events where I can learn from those outside of Portland?
Do agents share information about best practices, scripts, presentations, etc. freely?
Do you provide the opportunity for me to "mastermind" with other agents who are doing similar business to me?
Do you have book clubs?
Should I decide I want to learn how to do commercial real estate, do you have training for that?
Do you have luxury home training?

About Personal Development
Do you have training to develop me personally?
If so, what do you provide?
Do you offer any support in the event of personal hardship?
Do you give me the opportunity to lead if I choose?
Do you offer leadership training?

About Brand/Reputation
What is the market share of your office?
What is the market share of the company in Portland?
How many offices is that?
What is the company’s reach beyond Portland?
What is the office’s market share of current listings in Portland?
Do you allow me to personalize my signs and marketing to promote my brand more than the company’s brand?
Do you have distinctive branding for luxury homes?
Do you have distinctive branding for commercial?
Does your company continually research the market and provide me with those findings?
Has the company been recognized for great service?
If so, how?
Does the company support the delivery of great customer service?
Does the company measure the quality of service provided by vendors?

About Marketing Vehicles
Does the company provide access to marketing vehicles that I can utilize to grow my business?
Does the company provide one point of entry for my listings online?
Does the company support the syndication of my listings to multiple websites?
Does the company route the leads from my listings to me?
If not, where do they go?
Does the company provide discounted access to services like virtual tours?
Does the company provide me with a personalize website?
If so, will you show me how to get the most leads from it?
Do you teach the latest trends and techniques for doing real estate online?
Do you provide me with FREE Stealth Websites (unbranded)?
Do you provide an online directory to market myself nationwide to other agents for referrals at no additional charge?
Do you provide continual marketing of my virtual tours in the lobby of the office?

About Support
What administrative support does the office provide?
What is the charge for that?
Do you provide marketing materials that I can send to my database?
What is the cost?
Do you have a CMA solution I can use?
Do you have a Database solution I can use?
What is the cost?
Do you provide me with statistical reports I can use weekly?
How am I paid my commission?
What is the time frame for receiving my check?
What happens to leads or floor calls on my listings?
Is there a Broker available to answer my questions?
Does the Broker review all of my transactions?
Does the Broker compete with me by listing and selling as well?

About Technology
Does the company provide me with an email account?
What is the cost?
Does the company provide syndication of my listings?
Does the office utilize a paperless system that allows me to access my files 24/7 via the web?
Does the company provide statistical reporting of my business?
Does the company provide an IDX solution to me?
What is the cost?
Does the company provide online training?
Does the company provide discounted access to programs like Top Producer, Tour Factory, etc.?
Does the company provide wireless internet and networking in the building?
What is the cost?
Does the company provide big screen monitors in the conference rooms?
Does the company provide a private intranet for the sharing of data and reporting?
Does the company have a website that drives consumers to me in as few clicks as possible?
Does the company provide me with niche, stealth and personal websites?
At what cost?

About Culture
What is the company’s Mission Statement?
What is the company’s Vision ?
What are the company’s Values?
Are they in writing?
What is the company’s Belief System?
What is the company’s Purpose?
Does the company have a charitable foundation designed to take care of it’s agents during times of hardship?
Does the company provide health insurance?
What social events does the company host?
Does the office have a sharing, caring environment?
Does the company provide an annual convention to teach, share and network?
Does the company provide masterminds for agents to learn from each other?
Does the company have a community-service day?
Is the office high energy and productivity specific?
Does the office believe in having fun?
Does the company have a long term vision for the wellness of it’s agents?

About Benchmarking and Trending
Does your office provide in-depth statistical analysis of the market on a weekly basis?
If so, what is the cost?
Does the office provide market trend graphs that I can use with my clients?
Does the company provide me with a monthly video update on the market that I can send to my clients?
Does the company provide me with a PowerPoint presentation on the market updates that I can use?
Does the company provide me with statistics on my own business that I can access online 24/7?
Does the company fund research on residential real estate that it than provides me at no cost?
Does the office provide me with training on how best to utilize the data with Buyers, Sellers and prospects?
What is the office’s market share?
What is the office’s market share of listings?

About Mega Production
Does the environment in the office support me building a business as big as I want?
Do the economics of the office and the commission program support me in building a team?
Does the office have lots of productive Associates?
Does the training in the office help me to grow beyond simply the basics of real estate sales?
Does the office provide training for my assistants?
Does the office help me to hire talent?
Does the office allow me to control my commission?
Does the company provide me with opportunities to network with top Associates outside of my market?
Does the company consistently interview top agents from around the country and provide those interviews to me at no cost?
Does the company provide me access to all of the systems used by the industry’s best, at no cost?
Can I get coaching at the highest level by people who understand mega production?

About Life Achievement
Does the company provide me with training to grow not only as a business owner, but also as a person?
What does that training include?

About Fun
Does the office strive to create a fun environment?
What fun activities does the office organize?
Do the Associates have the opportunity to organize fun activities?

About Community Service
What does the office do to give back to the community?
Is it mandatory?
Who decides what causes the office supports?

About Leads Support
Does the office direct leads that are generated by my listings to me?
Are all web leads generated on my listing inventory directed to me?
Does the company require that I use their relocation company?
If so, what is the cost?
Does the office allow me to do “floor time?”
What volume of floor calls does the office get?
Does the company provide me with pre-packaged seminars that I can offer First-Time Home Buyers and Investors to generate leads?
Does the company provide me with pre-formatted marketing templates that can be implemented easily?
At what cost?
Does the company provide me with a free IDX solution?
Does the company allow me to market my own brand ahead of the company’s brand?
Does the company allow me to personalize my signs?
What limitations?
Does the company provide me with a free blog site?
Does the office allow me to have a direct dial number that I can market instead of the office number?
Does the company make it easy for me to syndicate my listings on the web?
Do I have control over which sites I want to use?
Does the company provide me with free scripts and dialogues training?
Does the company provide me with specialized lead generation training?
Does the company teach internet lead generation and social media marketing?

About Communication
What communication systems does the office utilize to keep me informed?
Is there a vehicle for me to have input into the operations of the office?
Does the office share its financials with me?
Is there an open door policy in the office?
Is the leadership accessible to me?

About Motivation and Energy
Is the office a high energy environment?
What does the office do help raise the energy and motivation of its Associates?
Are the office’s instructors trained and certified?
Are the leadership energized?
Does the staff support a high energy office?
Are there successful agents in the office who are willing to share?
Does the culture of the office support a motivating and high energy environment?
Does the company help motivate it’s Associates by sharing profit with them?

About Leadership
What is the quality of the company’s leadership?
Are there competing managers or Brokers?
Is there “full time” broker support for my business?
Is there a vehicle for the Associates to take a leadership role in the office and the company?
Does the company provide leadership training?
Are the staff servant leaders?

About Image/Professionalism
Does the office provide a professional atmosphere?
Are the staff professional?
Is there a “dress” standard?
Does the company provide for a professional branding for luxury homes?
Does the company provide for professional branding for commercial real estate?
Does the leadership of the company provide a level of professionalism that supports the Associates growth?

REACH FIRST-TIME AND MOVE-UP BUYERS NOW!
 
There’s no doubt about it: last year’s first-time homebuyer tax credit was a success. Pending home sales rose, renters came out of the backfield to buy and the economy started to feel the weight of the real estate downturn lifted off its shoulders. By the end of October 2009, 51 percent of all home sales in the United States were traced to first-time home buyers.
          
With only four months until the April 30 deadline (closings must occur before July 1, 2010) its prime time for buyers to get a piece of the tax credit pie. Here are four strategies to ensure your clients don’t miss out.

1. Lead Generate
 
First-timer buyers are most likely be looking for detailed information on the home-buying process and how the extended tax credit will help them reach the goal of homeownership. Send your clients the newly updated First-Time Home Buyer eBooks, located on the Marketing Tab of myKW.
         
Here’s a great script to use in the e-mail you send:

Dear ,
 
Are you interested in earning a piece of the stimulus package pie? First-time homebuyers across the country are making the dream of homeownership a reality AND receiving an $8,000 tax credit.
 
If you’re in the market for you’re first home, it’s important to start looking NOW! Mortgage rates are near their lowest levels in history, affordability is at an all-time high and there is an excellent selection of homes available. These three factors make it an extraordinary time to buy – and I can tell you from experience it won’t stay this good forever.
 
Let’s get together soon to talk about the opportunities I’m seeing right now. In the meantime, I think you will find the $8,000 Closer to Home eBook a great resource.
 
I look forward to helping you on your path to homeownership.
 
Sincerely,


Conditions are also favorable for move-up buyers, who are ready to take advantage of low interest rates, high affordability and in some markets, steadily decreasing home prices.
 
Keep them on a constant touch program. E-mail drip campaigns and personal phone calls are an excellent combination. Send them the This Month in Real Estate monthly eNewsletter for timely market updates.

 
2. Hold a Seminar
 
First-time homebuyer seminars and workshops work!
 
Since the original tax credit more and more real estate agents have taken the advice of Jay Papasan, Vice President of Publishing and Executive Editor, Keller Williams Realty, who advises:
 
"Work with other agents and your vendor network to make the presentation happen. The goal is to get face-to-face with potential buyers. You can host it anywhere — a library, community hall, school, place of worship or you can even turn an open house into a 'First Time Homebuyer Tax Credit Info Center.'"
 
Download Your First Home Seminar Instructions and PowerPoints here.
 
 
3. Educate
 
This goes for agents and potential home buyers.
 
First, educate yourself on the provisions of both the first-time and move-up buyer portions of the tax credit and then go out and spread the information to potential clients. Visit http://www.federalhousingtaxcredit.com/ for a complete overview, or check out this quick comparison on myKW.kw.com.

Financing options and mortgage rates are important factors for first-timers as well. This niche – which often looks to the FHA program for loan assistance – will want to act quickly once they find the right home. Help them understand how much they can afford. Then be able to broadly explain loan options and connect clients with lenders. Build time into the process for financial delays.

4. Create Urgency
 
Help clients understand the home purchasing process. To them, four months may seem like a long time to find a home.
 
We know better.
 
It takes time to secure financing, time to find a home they love and time to make an offer, negotiate the deal and successfully close. Give them a copy of the 8 Steps to Home eBook and Your First Home: The Proven Path to Homeownership early on. Then realistically set expectations based on a needs analysis before you begin looking for homes.
 
For more tips on taking advantage of the first-time home buyer tax credit, check out Seven Ways to Attract First Time Home Buyers Today on the KW Blog.