The Best Advice from Broker-Owners
Each month in the pages of Real Estate Brokers Insider, readers find an in-depth interview with a leading broker-owner. Its a frank and wide-ranging conversation and there are always lots of important insights. Youll learn about their growth plans, the most successful things they are doing right now, and even their worst mistakes. Below, Editor Jeff Ostrowski asks,
What is the single most successful thing your company is doing now?
Gary Malin, Citi Habitats
Were investing a significant amount of time and effort into training and coaching. The barriers to entry into our industry are so low. Agents need and want training and coaching. Its really just to enhance everyones skill set. People get to a certain level in their careers and think they know everything, and thats not the case.
Bob Albanese, Long and Foster
We are a really neat enterprise. We are the largest independently owned real estate brokerage in the country. We are still profitable. We have no debt. We are a whole company positioned for growth. That is the most profound and distinct thing that separates us from the pack right now.
Jeffrey Schleider, Miron Properties
Our online marketing has delivered remarkable yield per dollar invested. We have a search engine strategy thats based on organic results. We do email marketing thats very effective. We also have a policy of encouraging agents to pursue their own innovative marketing ideas, which has brought great results.
Noah Freedman, BOND New York
We have a database of over 30,000 New Yorkers that we have worked with in the past and we have an ongoing email drip campaign to them. It has really been a boon to business for our agents.
Gary Legrand, Surterre Properties
We have a thing we call best buys. We have all our agents looking at all these properties, and if they see something that they think is a great buy, they send us an email and tell us why they think its a great deal. It doesnt even have to be one of our listings. The best buy can be based on value or uniqueness. Every other week, a panel of 20 agents gets together and looks at all the nominations. Then the best buy goes out to all 300 of our agents, and they resend it to their contacts. If the property makes the best buy list, it has a 73 percent chance of selling. Weve sold well over 100 properties in this program over three years, so its been a very successful program. Theyre anywhere from REO properties all the way up to $14 million.
Leah Caro, Bronxville-Ley Real Estate
Right now, back to basics is whats required. Somebody said that thinking outside the box is great if youve got the box mastered, and if you dont, get back in the box. Thats really true. I have a written list of expectations for my office. Its simple stuff, but if its not written down, nobody knows whats expected. Be on time. Respond in a timely fashion to people. Know the inventory. Know the marketplace. Be a better agent. Do your homework. Do your due diligence. And follow through, follow through, follow through, follow through. I nag my agents about that a lot. I continue to train agents one on one, which I think is important to them.
Shaun Duggins, Carol Jones Realtors
Its our advertising campaign. Our Right Now campaign is running online and on television. Weve got billboards with Abraham Lincoln holding an iPod. Were just letting people know that if theyre sitting on the fence, one of the best times in history to buy a home is right now — the best prices, the best selection, the best interest rates, the best terms, the best everything. No one else in our market was really saying that. Instead of wasting money on bricks and mortar, we just decided we were going to be the voice to step out there and do some aggressive marketing. Its created a new excitement within the company. Weve kind of changed the mindset of the agents. Its created better agent morale. We launched it in May, and weve seen a tremendous increase in web traffic, leads, and phone calls.A full profile of each broker-owner appears in the pages of the monthly newsletter Real Estate Brokers Insider.




