1,221 members (14.07%)
Associate: 5,531 members (63.66%)
Principal: 1,934 members (22.27%)
Total REALTORS®: 6,752 members (77.73%)
Total Designated REALTORS®: 1,934 members (22.27%)
Total Membership: 8,686 members
ORRA Membership Trends
Total Membership:
2012: 8,686 members
2011: 9,134 members
2010: 9,593 members
2009: 10,000 members
2008: 10,500 members
2007: 11,000 members
2006: 11
Strategic Planning Presentation - Jeremy ConawayOrlando Realtors
The real estate industry is facing significant changes due to demographic, economic, and technological forces. Younger consumers have different expectations around transparency, technology use, and lifestyle information than traditional agents provide. Internet companies are addressing these consumer demands in ways that brokerages are not, such as through agent ratings, transaction management, and advanced inventory search tools. For brokerages to succeed, they will need to reinvent their business model to create more value for consumers, agents, and owners through turnkey systems, accountability, strong consumer connections, and effective management controls. Associations and new investors may be able to help brokerages develop new solutions to meet these challenges.
Sistem operasi merupakan perangkat lunak yang mengontrol eksekusi program komputer dengan mengatur waktu proses, input/output, dan layanan terkait. Dokumen ini membahas definisi sistem operasi, program dan proses, serta perkembangan sistem operasi Windows, Linux, dan Mac OS."
This document discusses how real estate professionals can stay relevant in the new "Social Era." It covers four key topics:
1. The Social Era values connections over institutions and collaboration over control. Talent inclusion and social purpose are important.
2. Different generational preferences are changing consumer needs and expectations. Recognizing these differences is crucial.
3. Market forces like consolidation and specialization mean real estate no longer functions the same. Adaptation is necessary.
4. Factors like content, curation, convergence, and disruptive business models are shaping the future. Embracing change through innovation is important to survive.
The timeshare industry started 30 years ago with many developers entering but then failing due to inexperience in marketing. Major hotel chains then entered and drove out smaller developers. The industry now focuses on points systems and multiple locations priced from $12,000 to $25,000. Meanwhile, a resale market has emerged as original owners want to sell but brokers ignored it, leaving prices plummeting until scammers entered. Honest resale brokers are now developing and may create a resale listing service to drive out scammers. Years from now, resale timeshares will be more accepted and their prices will increase and narrow the gap with new timeshares.
This document provides an industry update on the real estate market, noting that it is a time of both great challenge and opportunity for real estate professionals. It discusses the extremes in the current market environment and forces impacting realtors at both the broker and agent level. The challenges include economic issues, high foreclosure rates, and a looming shadow inventory of homes. However, it also notes opportunities presented by new technologies, the evolving consumer, and a shift to more accountability and transparency. The next few years will be defining for the real estate industry as it navigates these market forces and changing consumer expectations.
This webinar discusses new marketing models for real estate agents to find buyer clients. It is presented by Richard Silver, a veteran real estate agent and director. The webinar emphasizes engaging buyers where they are online through blogs, social media, and sharing content. It stresses becoming an authority and "friend of a friend" by regularly sharing valuable real estate knowledge that clients will refer to others. Agents are encouraged to listen to client questions and use various online tools and platforms to engage buyers and build their brand.
This document provides data and analysis on the real estate market. It discusses topics such as overly leveraged households in 2000 and 2007, spatial correlation between high loan-to-income ratios and unemployment/home price declines, new construction rates, record low mortgage rates, and the increasing number of households renting. It emphasizes that real estate is local and case-by-case, and that data can help with prospecting, pricing strategies, assessing competition, and making informed decisions. Data sources include the USA Today, NAR, BLS, and more.
Strategic Planning Presentation - Jeremy ConawayOrlando Realtors
The real estate industry is facing significant changes due to demographic, economic, and technological forces. Younger consumers have different expectations around transparency, technology use, and lifestyle information than traditional agents provide. Internet companies are addressing these consumer demands in ways that brokerages are not, such as through agent ratings, transaction management, and advanced inventory search tools. For brokerages to succeed, they will need to reinvent their business model to create more value for consumers, agents, and owners through turnkey systems, accountability, strong consumer connections, and effective management controls. Associations and new investors may be able to help brokerages develop new solutions to meet these challenges.
Sistem operasi merupakan perangkat lunak yang mengontrol eksekusi program komputer dengan mengatur waktu proses, input/output, dan layanan terkait. Dokumen ini membahas definisi sistem operasi, program dan proses, serta perkembangan sistem operasi Windows, Linux, dan Mac OS."
This document discusses how real estate professionals can stay relevant in the new "Social Era." It covers four key topics:
1. The Social Era values connections over institutions and collaboration over control. Talent inclusion and social purpose are important.
2. Different generational preferences are changing consumer needs and expectations. Recognizing these differences is crucial.
3. Market forces like consolidation and specialization mean real estate no longer functions the same. Adaptation is necessary.
4. Factors like content, curation, convergence, and disruptive business models are shaping the future. Embracing change through innovation is important to survive.
The timeshare industry started 30 years ago with many developers entering but then failing due to inexperience in marketing. Major hotel chains then entered and drove out smaller developers. The industry now focuses on points systems and multiple locations priced from $12,000 to $25,000. Meanwhile, a resale market has emerged as original owners want to sell but brokers ignored it, leaving prices plummeting until scammers entered. Honest resale brokers are now developing and may create a resale listing service to drive out scammers. Years from now, resale timeshares will be more accepted and their prices will increase and narrow the gap with new timeshares.
This document provides an industry update on the real estate market, noting that it is a time of both great challenge and opportunity for real estate professionals. It discusses the extremes in the current market environment and forces impacting realtors at both the broker and agent level. The challenges include economic issues, high foreclosure rates, and a looming shadow inventory of homes. However, it also notes opportunities presented by new technologies, the evolving consumer, and a shift to more accountability and transparency. The next few years will be defining for the real estate industry as it navigates these market forces and changing consumer expectations.
This webinar discusses new marketing models for real estate agents to find buyer clients. It is presented by Richard Silver, a veteran real estate agent and director. The webinar emphasizes engaging buyers where they are online through blogs, social media, and sharing content. It stresses becoming an authority and "friend of a friend" by regularly sharing valuable real estate knowledge that clients will refer to others. Agents are encouraged to listen to client questions and use various online tools and platforms to engage buyers and build their brand.
This document provides data and analysis on the real estate market. It discusses topics such as overly leveraged households in 2000 and 2007, spatial correlation between high loan-to-income ratios and unemployment/home price declines, new construction rates, record low mortgage rates, and the increasing number of households renting. It emphasizes that real estate is local and case-by-case, and that data can help with prospecting, pricing strategies, assessing competition, and making informed decisions. Data sources include the USA Today, NAR, BLS, and more.
Stealth shoppers now make up over half of new car buyers. These buyers research online anonymously and never submit their contact information through dealership websites or forms. To regain influence over customers, dealerships need to embrace a 21st century internet experience by being available wherever and however customers want to communicate, including anonymously, and by responding helpfully without asking for personal information first. This will require changes to staffing, processes, and company culture, but can significantly increase sales by engaging the majority of today's car buyers.
The document discusses how the internet has negatively impacted various aspects of society and culture. It argues that the internet prioritizes fast profits over quality, atomizes attention, is not truly democratic, and promotes groupthink over dialogue. However, it suggests that brands could play a positive role by focusing on purpose rather than just sales, and that new creative processes are needed to build a better digital future.
The document provides an overview of Jacqueline Richmond's presentation to a home seller named Jackie about listing their home for sale. The presentation covers understanding the seller's goals, discussing the home's features, the CENTURY 21 brand and local market presence. It also discusses establishing the home's market value, pricing strategies, selecting a listing price and Richmond's action plan to sell the home.
Looking to sell a property and not sure where to start? Don't worry, I've created a Listing Package that easily outlines the steps to your next home sale. Take a look through and please contact me with any questions...and remember, when it comes to Real Estate, all you need is Lav!
Elders Real Estate National Conference - Cairns 2015 - Peter BrewerPeter Brewer
Graham is a real estate agent who uses an aggressive marketing strategy involving door knocking to build his business. He believes in being proactive and maintaining regular contact with clients to provide feedback. Graham recognizes the need to embrace technology and digital platforms to stay relevant and connect with potential clients. The document discusses how real estate agents need to establish an online presence through their own website, social media profiles, and video in order to effectively market their services and compete in today's digital landscape. It emphasizes building digital profiles that serve clients' needs as the future of the industry.
CalyxVision18 Modern Lead Generation slides with Sue Woodard, Dave Savage, St...Mortgage Coach
This document discusses modern lead generation strategies for referral-based local mortgage advisors in 2018. It provides interviews and strategies from top mortgage professionals. Key strategies discussed include taking an omnichannel approach, maintaining consistency and repetition in communications, building a strong personal brand, focusing on personal connections to build trust, and automating processes while still providing a personal experience for clients.
This document discusses trends in home buyers and sellers in 2015 and beyond. It identifies several key groups: boomerang buyers who lost homes in the past 7 years but are now credit-repaired; baby boomers considering downsizing; and millennials who are the largest group of first-time home buyers and rely heavily on technology. The document provides details on the characteristics and preferences of each group and recommends ways real estate agents can research and market to these potential buyers and sellers through tools like social media, direct mail, and data searches.
This document provides tips for real estate agents to "makeover" their business in a tough housing market. It recommends 3 strategies: 1) Get smart by keeping up with industry data and tools; 2) Be social, but focus social media efforts; 3) Manage online reviews. The key message is to focus on quality over quantity by limiting clients and commitments to deliver better service and results.
Essay On Economic Crisis In Usa. Online assignment writing service.Kari Lowry
The novel White Tiger by Aravind Adiga captures modern India, showing the struggles of class and caste. Through the protagonist Balram Halwai, it illustrates the transitioning social hierarchy in India as the country undergoes rapid modernization. Some characters believe the caste system is outdated, while others feel caste lines remain rigid. Balram represents social mobility as he breaks free from the shackles of his low-caste status.
Conclusion - How To Write An Essay - LibGuides At UniversSusan White
The document discusses how bomb disposal robots are used to safely defuse explosive devices. It notes that in the past, bomb squad personnel would have to directly handle live bombs, putting their lives at risk. Now, remote-controlled robots allow explosives technicians to defuse bombs from a safe distance. Modern bomb robots have high-quality cameras and can be operated with minimal training using a screen and joystick. They provide a safer alternative than exposing humans and allow explosives to be disabled without endangering lives.
Are you ready to learn about investing in real estate? Learn directly from TOP investors around the country for FREE with our investment print and online magazine. Our publication is the first and only viral real estate investment publication, enjoy!
The residential real estate industry is facing serious challenges to its traditional business model from three main factors:
1) Consumer Evolution: Consumers are increasingly educated online and willing to participate directly in transactions without agent representation. They demand transparency, choice and value for their money.
2) Competitor Evolution: Outside companies like search engines and data analysis sites now provide robust property data and tools that empower consumers. This threatens the industry's control over listing data.
3) Self Devolution: The industry relied too long on maintaining the status quo and failed to clearly define and promote its true value to consumers over discounted or rebate models. Unless it adapts by offering more task-based, fee-for
This document summarizes Aaron Novello's experience in the real estate market in 2006 in Gainesville, FL. In his first 60 days, he took 10 listings but none were selling. He discusses that the key problem was pricing - even if you do everything else right in the listing process, if you don't price it properly, it won't sell. The rest of the document discusses pricing strategies and skills, including pre-qualifying buyers, presenting pricing information as a team with the sellers rather than authoritatively, and strategies for price reductions if it doesn't sell at the initial price.
This marketing proposal outlines Arletha Myers' plan to sell Mr. and Mrs. Seller's home located at 0000 Someplace Lane in Bel Air, Maryland. The proposal discusses goals of achieving the highest sale price in the shortest time with minimal inconvenience. It promotes Long & Foster Real Estate and Arletha Myers' credentials and marketing strategies, which include exposing the home online and in newspapers, preparing the home for showings, and guiding the sellers through offers and closing.
A study found that the average time a home listing stays on the market increases 0.36% for every mile between the property and the listing agent's office. The likelihood of selling decreases 0.5% per mile. This suggests agents exert less effort for homes farther from their office due to increased time, expenses and responsibilities. However, some agents argue technology reduces the impact of distance, and a good agent will refer clients to experts in other areas. While location still matters, vetting agents' market knowledge is most important.
- Century 21 Real Estate LLC is the world's largest residential real estate franchise with over 7,000 offices globally. It was founded in 1971 and is part of the Realogy Franchise Group.
- The document promotes Century 21's services for home sellers, noting their brand recognition, digital and social media marketing platforms, and tools to track property views and leads.
- It outlines Century 21's commitment to keeping sellers informed and achieving their goals through representing their interests and properly pricing and marketing their homes.
The document discusses the ongoing digital revolution and how it is changing various industries and technologies. It notes that as industries transition digitally, there are opportunities to benefit those who are well-positioned and risks for those who are not prepared for changes. The rest of the document describes Zemura, a digital marketing hub that aims to help people find, buy, and sell digital goods and services. It provides an overview of Zemura's values, people, digital content categories, and process for activating an account, making purchases, and initiating sales on the platform in order to capitalize on opportunities in the digital economy.
This document provides advice and information for homeowners considering selling their house. It discusses the benefits of hiring a qualified real estate agent to handle the sale. The agent should understand the homeowner's timeline, remove challenges, help with relocation plans, and ensure the house is sold. It also cautions homeowners to carefully consider the responsibilities of renting their house out instead of selling, and explains the financial advantages of selling now rather than waiting until supply increases in the summer months.
The document summarizes information about the real estate market on Marco Island, Florida from The O'Rourke Group. It discusses why people should use a real estate agent to buy or sell property, what is expected of agents, and how the market has been performing in recent years with sales and prices trends. It also provides details on the services offered by The O'Rourke Group to help clients find their dream home and guarantees their commitment to customer satisfaction.
The document discusses commercial real estate in Tucson, Arizona. It notes that Tucson has a population of over 1 million and was rated highly for convention, retail, and tourism industries. It also discusses different types of commercial real estate like multi-family, retail, office, and industrial properties. The document then discusses challenges some investors face when taking on too many rental properties to manage and the benefits of working with a commercial real estate agent.
Stealth shoppers now make up over half of new car buyers. These buyers research online anonymously and never submit their contact information through dealership websites or forms. To regain influence over customers, dealerships need to embrace a 21st century internet experience by being available wherever and however customers want to communicate, including anonymously, and by responding helpfully without asking for personal information first. This will require changes to staffing, processes, and company culture, but can significantly increase sales by engaging the majority of today's car buyers.
The document discusses how the internet has negatively impacted various aspects of society and culture. It argues that the internet prioritizes fast profits over quality, atomizes attention, is not truly democratic, and promotes groupthink over dialogue. However, it suggests that brands could play a positive role by focusing on purpose rather than just sales, and that new creative processes are needed to build a better digital future.
The document provides an overview of Jacqueline Richmond's presentation to a home seller named Jackie about listing their home for sale. The presentation covers understanding the seller's goals, discussing the home's features, the CENTURY 21 brand and local market presence. It also discusses establishing the home's market value, pricing strategies, selecting a listing price and Richmond's action plan to sell the home.
Looking to sell a property and not sure where to start? Don't worry, I've created a Listing Package that easily outlines the steps to your next home sale. Take a look through and please contact me with any questions...and remember, when it comes to Real Estate, all you need is Lav!
Elders Real Estate National Conference - Cairns 2015 - Peter BrewerPeter Brewer
Graham is a real estate agent who uses an aggressive marketing strategy involving door knocking to build his business. He believes in being proactive and maintaining regular contact with clients to provide feedback. Graham recognizes the need to embrace technology and digital platforms to stay relevant and connect with potential clients. The document discusses how real estate agents need to establish an online presence through their own website, social media profiles, and video in order to effectively market their services and compete in today's digital landscape. It emphasizes building digital profiles that serve clients' needs as the future of the industry.
CalyxVision18 Modern Lead Generation slides with Sue Woodard, Dave Savage, St...Mortgage Coach
This document discusses modern lead generation strategies for referral-based local mortgage advisors in 2018. It provides interviews and strategies from top mortgage professionals. Key strategies discussed include taking an omnichannel approach, maintaining consistency and repetition in communications, building a strong personal brand, focusing on personal connections to build trust, and automating processes while still providing a personal experience for clients.
This document discusses trends in home buyers and sellers in 2015 and beyond. It identifies several key groups: boomerang buyers who lost homes in the past 7 years but are now credit-repaired; baby boomers considering downsizing; and millennials who are the largest group of first-time home buyers and rely heavily on technology. The document provides details on the characteristics and preferences of each group and recommends ways real estate agents can research and market to these potential buyers and sellers through tools like social media, direct mail, and data searches.
This document provides tips for real estate agents to "makeover" their business in a tough housing market. It recommends 3 strategies: 1) Get smart by keeping up with industry data and tools; 2) Be social, but focus social media efforts; 3) Manage online reviews. The key message is to focus on quality over quantity by limiting clients and commitments to deliver better service and results.
Essay On Economic Crisis In Usa. Online assignment writing service.Kari Lowry
The novel White Tiger by Aravind Adiga captures modern India, showing the struggles of class and caste. Through the protagonist Balram Halwai, it illustrates the transitioning social hierarchy in India as the country undergoes rapid modernization. Some characters believe the caste system is outdated, while others feel caste lines remain rigid. Balram represents social mobility as he breaks free from the shackles of his low-caste status.
Conclusion - How To Write An Essay - LibGuides At UniversSusan White
The document discusses how bomb disposal robots are used to safely defuse explosive devices. It notes that in the past, bomb squad personnel would have to directly handle live bombs, putting their lives at risk. Now, remote-controlled robots allow explosives technicians to defuse bombs from a safe distance. Modern bomb robots have high-quality cameras and can be operated with minimal training using a screen and joystick. They provide a safer alternative than exposing humans and allow explosives to be disabled without endangering lives.
Are you ready to learn about investing in real estate? Learn directly from TOP investors around the country for FREE with our investment print and online magazine. Our publication is the first and only viral real estate investment publication, enjoy!
The residential real estate industry is facing serious challenges to its traditional business model from three main factors:
1) Consumer Evolution: Consumers are increasingly educated online and willing to participate directly in transactions without agent representation. They demand transparency, choice and value for their money.
2) Competitor Evolution: Outside companies like search engines and data analysis sites now provide robust property data and tools that empower consumers. This threatens the industry's control over listing data.
3) Self Devolution: The industry relied too long on maintaining the status quo and failed to clearly define and promote its true value to consumers over discounted or rebate models. Unless it adapts by offering more task-based, fee-for
This document summarizes Aaron Novello's experience in the real estate market in 2006 in Gainesville, FL. In his first 60 days, he took 10 listings but none were selling. He discusses that the key problem was pricing - even if you do everything else right in the listing process, if you don't price it properly, it won't sell. The rest of the document discusses pricing strategies and skills, including pre-qualifying buyers, presenting pricing information as a team with the sellers rather than authoritatively, and strategies for price reductions if it doesn't sell at the initial price.
This marketing proposal outlines Arletha Myers' plan to sell Mr. and Mrs. Seller's home located at 0000 Someplace Lane in Bel Air, Maryland. The proposal discusses goals of achieving the highest sale price in the shortest time with minimal inconvenience. It promotes Long & Foster Real Estate and Arletha Myers' credentials and marketing strategies, which include exposing the home online and in newspapers, preparing the home for showings, and guiding the sellers through offers and closing.
A study found that the average time a home listing stays on the market increases 0.36% for every mile between the property and the listing agent's office. The likelihood of selling decreases 0.5% per mile. This suggests agents exert less effort for homes farther from their office due to increased time, expenses and responsibilities. However, some agents argue technology reduces the impact of distance, and a good agent will refer clients to experts in other areas. While location still matters, vetting agents' market knowledge is most important.
- Century 21 Real Estate LLC is the world's largest residential real estate franchise with over 7,000 offices globally. It was founded in 1971 and is part of the Realogy Franchise Group.
- The document promotes Century 21's services for home sellers, noting their brand recognition, digital and social media marketing platforms, and tools to track property views and leads.
- It outlines Century 21's commitment to keeping sellers informed and achieving their goals through representing their interests and properly pricing and marketing their homes.
The document discusses the ongoing digital revolution and how it is changing various industries and technologies. It notes that as industries transition digitally, there are opportunities to benefit those who are well-positioned and risks for those who are not prepared for changes. The rest of the document describes Zemura, a digital marketing hub that aims to help people find, buy, and sell digital goods and services. It provides an overview of Zemura's values, people, digital content categories, and process for activating an account, making purchases, and initiating sales on the platform in order to capitalize on opportunities in the digital economy.
This document provides advice and information for homeowners considering selling their house. It discusses the benefits of hiring a qualified real estate agent to handle the sale. The agent should understand the homeowner's timeline, remove challenges, help with relocation plans, and ensure the house is sold. It also cautions homeowners to carefully consider the responsibilities of renting their house out instead of selling, and explains the financial advantages of selling now rather than waiting until supply increases in the summer months.
The document summarizes information about the real estate market on Marco Island, Florida from The O'Rourke Group. It discusses why people should use a real estate agent to buy or sell property, what is expected of agents, and how the market has been performing in recent years with sales and prices trends. It also provides details on the services offered by The O'Rourke Group to help clients find their dream home and guarantees their commitment to customer satisfaction.
The document discusses commercial real estate in Tucson, Arizona. It notes that Tucson has a population of over 1 million and was rated highly for convention, retail, and tourism industries. It also discusses different types of commercial real estate like multi-family, retail, office, and industrial properties. The document then discusses challenges some investors face when taking on too many rental properties to manage and the benefits of working with a commercial real estate agent.
4. The American real estate
marketplace, industry and transaction is
currently being impacted by a number of
demographic, generational, economic, techn
ology and informational forces.
5. But even as these forces continue to erode and
invade your business and market spaces there
is another more insidious factor at work out
there. There are individuals and entities from
outside our industry who are aware of its
potential over the next several years and the
possibility, indeed likelihood, that you will
choose not to respond to the trends, directions
and forces that are currently realigning our
industry’s dynamic.
6. While there is adequate evidence to
document the current impact of these forces
no consensus has emerged with respect to
when they will generate sufficient
momentum to force a fundamental change
in the traditional industry.
7. As the monitoring of these forces continues
and the intensity of the conversation
increases it is essential to keep in mind that
it takes 24 - 36 months to introduce and
implement meaningful institutional change
8. What Do We Know Today
• The consumer is in command
• Agents are not transitioning into the new
reality
• Third party Internet firms are gaining ground
• The consumer is being attracted by 3P
• Brokerage profits from commissions are
minimal
• Brokerage values are lowest in years
• There are no buyers for traditional
brokerages
9. Where do we start?
The immediate challenge for the brokerage
community is to learn as much as possible
regarding the forces in play, monitor these
forces in their local marketplace and, at
every opportunity, engage in the discussion
relative to how they are likely to impact the
industry and the marketplace.
10. When do we start …
In other words, we start today!
11. This is a Broker Summit …
• It is not an association meeting
• It is not a United Nation’s meeting
• We are not here to be fair
• Today we are focused on just one thing
• The Success of Your Brokerage
Moving Forward
12. As brokers your primary concerns
should be being able to …
• Be proud of your business and reputation
• Manage your business asset in the right
directions
• Generate a market level profit and ROI
• Present a successful consumer value
proposition
• Sell your brokerage when the time comes
Anything that stands in the way of
these objectives is unacceptable!
14. The Contemporary Consumer
Chapter 2
Consider the impact of the rising power of
the contemporary consumer.
15. The Contemporary Consumer
The REALTORS® and the consumers of the
Orlando area are playing out a story. What we
don’t know is whether it is a romantic story that
will have a happy ending or a comedy which will
end in a tragedy. What is clear is that they are not
communicating.
16. Tell us a story …
This is Orrie, he is a REALTOR®
This is Connie, she is a consumer
17. A real guy …
Orrie is a high performance agent:
• He has over 25 years experience
• He sells over 5M annually
• He has been trained to be in
control
• He is a time managing machine
• He prides himself in being able to
do ten deals at the same time
• He loves to terrorize his broker
18. The contemporary consumer …
This is Connie
• She is into social media
• This is her first transaction
• She has spend over 100 hours
researching for her purchase
• She considers herself to be in charge
of her transaction
• She has a clear idea what role her
agent should take
• She wants to have a warm and positive
experience
20. Conny
Believes all information is available and free
Expects to be able to validate information & people
Wants to remain anonymous as long as possible
21. Can you tell me
everything about
the home and
area?
I can tell you
how many
homes there
are for sale!
22. Can you help me
find a place to
live?
I can tell you
how many
homes there
are for sale!
31. What’s happening out there …
The current market environment is marked by a
growing level of disconnect between the
traditional agent and the contemporary
consumer. Increasingly when Orrie and Connie
get together the sparks fly and we don’t mean
romantic sparks. This situation can not be
allowed to continue.
32. Who is the best agent around here …
Example #1:
Consumers want to know who the best
agents are in terms of production and
neighborhoods. Way too many traditional
brokerages are refusing to be transparent
33.
34. “I want more information …”
Example #2
The contemporary consumer has an
insatiable appetite for very specific
inventory related data. By and large agents
are refusing to provide it
36. What about lifestyle information …
Example #3
Today’s consumer wants to talk about lifestyles
and quality of life issues. The vast majority of
agents are only prepared to discuss bedrooms,
baths and prices. This is contributing to the
growing gap between the contemporary
consumer, especially within generation “Y,” and
brokerages.
37. What does lifestyle mean …
• What about the schools
• Where is the nearest decent golf course
• Do airplanes fly over here
• Where can I find organic vegetables
• Where is the nearest synagogue
• Who lives in this neighborhood
• Is this neighborhood “walkable”
• Are there babysitters around here
38. Example #4
Today’s consumer (especially the 40% that
will be forced by circumstances to live in a
rental for the next few years) wants to talk
about issues and options that compare
ownership and rental options. Too many
agents see this discussion as a threat to
home ownership and refuse to engage.
40. They want TM …
Example #5
Many contemporary consumers want to enjoy
the benefits of transaction management so that
they can track their transaction. Very few
brokerages in each market offer this service.
41. What’s the big deal with TM …
During this presentation we will make the
case that Transaction Management is the
single most important process in real estate
today. It is and it will be the gateway to the
new brokerage business model
44. I need to know now …
Example #6
More and more consumers are asking that
communications with their agent occur using
smart phones, i-Pads and other mobile
devices with messages being delivered now.
Too many agents are responding that they
will call after their regular day is over.
46. Could it be generational …
Some experts suggest that what is
happening here is that boomer agents
believe that they can control the
marketplace by not accommodating the
unique and well identified expectations and
demands of Generation “Y”
48. Could it be …
Other’s suggest that there a sense within the
brokerage community that its future rests
with the aging agent population rather than
the contemporary consumer?
49. Here are some of the companies that the
contemporary consumers are forming
relationships with. Among other things each
has a strong company directed consumer
experience. Which of these serve as a model
for your brokerage?
51. How is Orrie doing …
• He wants to be the center of the transaction
• He wants to sell not connect
• He thinks lifestyle is for girls
• He doesn’t want TM to let Connie know he
screwed up
• He hates the idea of agent rating
• He doesn’t believe Connie needs to know
everything.
• He doesn’t believe that real agents do
rentals
• Communication is not his priority
• What in the heck is a consumer experience?
52. What happen to Connie …
Not to worry about Connie, she found what
she was looking for
53. What does the market tell us …
Chapter 3.
What is the Orlando regional real estate market
telling us?
ORRA CEO Michael Kidd
54. By the numbers:
ORRA and Orlando
1 Your Association
2 The Orlando Housing Market
56. ORRA REALTORS® & Brokers
As of September 2012: Total Membership of 8,686
REALTORS®
6,752 members (77.73%)
Designated REALTORS®
1,934 members
(22.27%)
57. ORRA is a Mega Board
8,686 ORRA members
NAR Board Size Designations
Mega Board: 7,000+ members
Large Board: 2,000-6,999 members
Medium Board: 500-1,999 members
Small Board: 499 or fewer members
58. ORRA Membership by Type
8,686 members
REALTORS® Designated REALTORS®
Primary: 6,684 Primary: 1,749
Secondary: 35 Secondary: 185
Responsible
Managers: 33
Total 6,752 Total 1,934
59. Years of Membership
Almost 45% of members have belonged to ORRA for less than 5 years
ORRA Membership by Member Duration
31.94%
24.08%
20.78%
15.10%
6.50%
1.59%
Less than 1 2-4 5-9 10-19 20-29 30 or more
60. Office Size
More than half of ORRA member offices are one-person firms
ORRA Member Offices by Size
51.68%
32.39%
7.92%
4.06%
1.33% 0.95% 1.66%
1 2-4 5-9 10-24 25-49 50-99 More than
100
61. ORRA Membership by Age
More than 77% of ORRA’s membership is 40 and over
ORRA Membership by Age
28.60%
26.86%
21.48%
18.10%
4.96%
Under 30 30-39 40-49 50-59 60 and over
62. ORRA Membership by Gender
As of September 2012: Total Membership of 8,686
Males: 52.0%
Females: 48.0%
69. Orlando New Listings
Annual number of new listings by price range
Orlando Home Sales (2007 – YTD 2012)
45,000
40,000
29,882
29,381
35,000
21,626
30,000
25,000
20,000
9,654
8,271
7,786
15,000
4,839
10,000
1,752
5,000
0
$1 ‐ $150,000 $150,001 ‐ $250,000 $250,001 ‐ $500,000 $500,001 +
2007 2008 2009 2010 2011 YTD2012
70. Orlando Home Sales
Annual number of total home sales by price range
Orlando Home Sales (2007 – YTD 2012)
30000
25000
20000
10,796
15000
10000
2,215
5000
685
317
219
146
143
22
0
$1 ‐ $150,000 $150,001 ‐ $250,000 $250,001 ‐ $500,000 $500,001 +
2007 2008 2009 2010 2011 YTD2012
71. Orlando Normal Home Sales
Annual number of normal home sales by price range
Orlando Normal Home Sales (2007 – YTD 2012)
10,000
8,137
7,606
9,000
8,000
5,873
7,000
6,000
3,313
5,000
2,700
4,000
2,017
1,785
3,000
2,000
563
1,000
0
$1 ‐ $150,000 $150,001 ‐ $250,000 $250,001 ‐ $500,000 $500,001 +
2007 2008 2009 2010 2011 YTD2012
72. Orlando Distressed Home Sales
Annual number of distressed home sales by price range
Orlando Distressed Home Sales (2007 – YTD 2012)
20,000
18,000
16,000
10,796
14,000
12,000
10,000
8,000
6,000
4,000 2,215
685
317
219
146
143
2,000
22
0
$1 ‐ $150,0001 $150,001 ‐ $250,000 $250,001 ‐ $500,000 $500,001 +
2007 2008 2009 2010 2011 YTD2012
73. Days on Market: Normal Home Sales
Annual number of normal home sales by days on market
Normal Home Sales (2007 – YTD 2012)
7,000
5,359
5,335
6,000
5,000
3,446
3,239
2,990
2,888
4,000
2,306
1,864
3,000
1,597
1,194
2,000
982
794
1,000
0
0-30 days 31-60 days 61-90 days 91-120 days 121-180 days 180+ days
2007 2008 2009 2010 2011 YTD2012
74. Days on Market: Distressed Home Sales
Annual number of distressed home sales by days on market
Distressed Home Sales (2007 – YTD 2012)
12,000
10,000
6,309
8,000
6,000
2,094
2,042
4,000
1,293
1,130
971
2,000
170
137
107
102
97
91
0
0-30 days 31-60 days 61-90 days 91-120 days 121-180 days 180+ days
2007 2008 2009 2010 2011 YTD2012
75. Orlando Pending Home Sales
Pending home sales have more than quadrupled since August 2007
Orlando Pending Home Sales
8,945 9,502 9,362
8,237
3,220
2,194
8/07 8/08 8/09 8/10 8/11 8/12
76. Orlando Home Sales by Type
Normal sales made up almost half of all home sales in August
Normal Sales: 48.03% Short Sales: 28.82%
August 2011: 41.04% August 2011: 32.92%
Foreclosures: 23.16%
August 2011: 26.04%
77. Orlando Median Home Prices
Median home prices by sales type
Median Home Prices by Sales Type (2007 – YTD 2012)
300,000
250,000 $240,000
$243,000
200,000 $190,000
$150,762
150,000
$118,000
$95,000
100,000
50,000
0
Overall Normal SS/BO
2007 2008 2009 2010 2011 YTD2012
78. Orlando Average Home Prices
Average home prices by sales type
Average Home Prices by Sales Type (2007 – YTD 2012)
350,000
$298,604 $301,607
300,000
250,000
$212,316
$199,447
200,000
$155,161
150,000
$117,509
100,000
50,000
0
Overall Normal SS/BO
2007 2008 2009 2010 2011 YTD2012
79. For more information, visit
www.orlrealtor.com.
Contact ORRA at orra@orlrealtor.com.
80. Its about time …
Morning Break
(We are back in 15 minutes)
81. Whose on line …
Chapter 4.
The Rapidly Transitioning Real Estate
Internet Space: Brokerage Ally , Business
Distractor or Skillful Competitor?
82. Let’s start by examining how the new breed
of Internet based real estate companies are
doing with the consumer demands and
expectations discussed above.
83. I want to know which agents are good
…
On the subject of agent rating
90. What’s the big deal with TM …
During this presentation we will make the
case that Transaction Management is the
single most important process in real estate
today. It is and it will be the gateway to the
new brokerage business model
109. We have to mention Craig’s list …
No discussion of real estate on the Internet
would be complete without an honorable
mention for Craig’s List. In some markets
entire teams are tasked to Craig’s List based
marketing activities. It has become a skill set
of its own.
112. I don’t work for Zillow …
This presentation is not about selling Zillow.
It is about helping you, as
brokers, understand the Zillow competitive
model and what it means for your
brokerage.
121. Lets try it again, Zillow is recruiting …
Zillow has recruited 25,000 of
Your Agents
122. So what is the big deal …
Do you know what Zillow is doing with your agents?
• They are taking a big piece of the commission
• They are directing your agents to their consumers
• They are setting standards for your agents
• They are establishing a national system of
transaction coaches who will work with your
agents every week
• They are telling your customers that they are
better
123. Most ridiculous of all, your agents who
refuse to cooperate with your efforts to
create systems and consumer experiences
are now blindly following Zillow’s.
124. What does all this mean …
What should be we thinking here?
128. Reason # 4 …
Because the recession happen to coincide with
social, demographic, and technical
developments. When the going got tough the
traditional business model couldn’t get going.
129. Why traditional business
models don’t create value in the new environment?
• Inability to respond to current social and
demographic circumstances
• Lack of management controls
• Failure to employ metrics and
benchmarking
• Costs of labor
• Lack of accountability
• Failure to be consumer centric
131. What is the basic challenge …
A business model is a method for
creating value. When a model fails to
create value it must be replaced
132. The traditional brokerage business
model is not creating value for …
• Consumers
• Agents
• Owners
• Investors
133. Here is the moment of truth …
It is time to reengineer the
brokerage business model!
134. Don’t take it personally …
• It is a “no fault” situation
• It is a huge opportunity
• Half the challenge is attitude
• You can do this
135. Most importantly …
Most brokers don’t have a choice if they expect
to capitalize on their life’s work
136. Now enters the investor …
• They are with us now (Zillow, Realogy, Trulia)
• The industry is cash poor after 5 years of hardship
• Consider the average age of today’s broker
• Consider the greatly reduced value of today’s
brokerage
• Few agents want to be brokers and fewer yet
have any purchase money
• Selling it to the kids has been less than successful
over the past several years
• The most likely buyers may be from outside the
industry and they will need financing from
investors.
137. What will investors require in order
to provide funding for a brokerage.
• Turn key systems
• Universal accountability
• Effective management control over key
processes
• Agent stability
• Strong consumer connections
• Strong business metrics and benchmarking
• Appropriate market share
138. What to do …
Even if brokerage owners, executives and
managers don’t believe any real change will
occur within the next three years what actions
should they be taking between now and then?
139. What to do?
Even if brokerage owners, executives and
managers don’t believe any real change will
occur within the next three years what actions
should they be taking between now and then?
143. Here is how to get started …
• Create your unique customer experience
• Create standards for each experience
component
• Create a system for each component
• Assign responsibility for each component
• Create an atmosphere of universal
accountability
• Set up overview and monitoring
• Incorporate metrics and benchmarking
144. This is what will be necessary …
• Profitability must be the central focus
• Management must be in control of every
aspect of the business
• Experience and personalities will not have
value equal to systems and effective
management
• The firm’s consumer experience must be
defined and implemented across the board
• Metrics and benchmarking must be
implemented and transparent
145. This is no time to go solo …
This is a time to think about
collaboration, cooperation and competition.
Remember, your new competitor is probably
not sitting in this room today. Think about
this.
146. The other side of the story …
As your brokerage community searches
around the industry for friends and allies it
may be surprised to discover that those that
it thought it could depend on may not be
there. Most franchisors are not in a position
to assist with the development of new
solutions. They are either without sufficient
funding, imagination or they have
committed to global development.
147. Your REALTOR® association wants to be part
of your solution. It has the resources, the
staff and the guts to get you there.
Give it some thought
Editor's Notes
I want to tell you a personal storyMy son Jared is 26 years oldAbout that long ago I started working with ORRA
I am working with a grou= of foreign investors who are designing your next competitor