A View into the Process of Real Estate Series:
David Camp, SVP Business Development
Over the next several months, I am going to address the process of real estate and issue a challenge to consider the whole before focusing on one part of the process. With this challenge, I am going to provide one assignment for the month. The purpose of the assignment is to drive change in our thinking and implementation of practical solutions that are measurable.
The continued debate and dialogue related to the creation, cultivation and close of Internet-related leads is an important discussion, but does it deserve the amount of time our industry gives it?
There is much more to the creation of qualified opportunities than engagement of the consumer online. How much time are the perceived industry leaders giving thought to the life of the consumer relationship?
Consider this reality, marketing efforts today are increasingly complicated as various channels and sources have to be evaluated, qualified and measured. Is social marketing effective? How does video impact listing promotion? Is listing syndication right or wrong for your business? How does the unique elements of your market impact strategy? There is a significant amount of fixed and variable data elements to consider.
Thus, I would argue the science of marketing is what matters most and that requires analysis of the whole consumer marketing process. In addition, you have to implement tools to constantly evaluate this marketing process as the dynamics of consumer engagement change rapidly.
So as an industry, let’s shift the conversation to debating the whole process and ask ourselves questions such as:
- How can we effectively measure ROI?
- Which lead sources provide the proper ROI?
- Which social channel is most effective for my business because it drives results?
- How can better tools be delivered that benefit sellers and help Agent win more listings?
- Why can’t Brokers help their agents build a consistent customer for life program as it will have the greatest impact on growing a referral network?
- Why can’t we define and build an automated process that provides agents with the ability to do what they do best: build relationships and sell?
- What are the dynamics that will help Brokers re-margin their business?