Strategic Questions Whats the current office situation? Where does the office need to go from here? –Assess the market –Focus on towns to serve in order to sustain continued growth
Present Situation: Fair Lawn, NJ In 2009, the Fair Lawn office has surged to become number one market share in the town of Fair Lawn Exceeding objectives for 2009 Recruited six experienced agents from Brand X in the last 18 months
Strategy 1.Print a map of your market area 2.Place yellow markers where associates live 3.Mark your listings in green for the previous year 4.Track leads of Lead Network in market area 5.Use Lead Network to gain competitive advantage 6.Target associates in towns where your office does not have a presence (Market Share, Listings, and/or Units) 7.Use targeted recruiting dialogue
Create a Map of Your Market Area Key: Associates homes Listings Number of associates and listings are approximate.
Office Assessment Yellow dots are where my sales associates currently reside Green dots represent listings last year in our market area Growth opportunity for Fair Lawn office lies in Paramus, a neighboring town where we dont have any listings or associates
Creating a Strategy Gain a competitive advantage over rivals A creative, distinctive strategy sets a company apart from rivals A strategy-focused office is more likely to lead to a stronger balance sheet than one that views strategy as secondary
What is Our Competitive Advantage? Lead Network! It is not what you have. It is who knows what you have that makes a difference.
Using Lead Network as a Recruiting Strategy Paramus had 112 leads last year Make recruiting calls using Lead Network numbers Call offices that have market share in that town Target sales associates that have listing and sales production within the town of Paramus
Which Company To Call? Company Listing Sales Re/Max Paramus (36) 11% (13) 7.7% Re/Max Oradell (21) 6.4% (7) 4.2% Realty Line Teaneck (9) 2.7% (7) 4.2% Coldwell Banker (9) 2.7% (6) 3.60%
The Experienced Recruiting Call I have a business proposal for you. Would you be willing to meet with me if I guarantee you 10 closed company- generated leads in your market area? Great. Lets get together and Ill show you how you can become part of my 2010 business plan for growth in your market area.
At the Meeting Build rapport When you are working with customers what percentage do you convert for a sale? Probable Answer: 50% So if I gave you 20 quality leads and you convert 50% of them, you would have 10 additional closings. Is that right?
At the Meeting Let me show you the number of leads we received this year in your market area. Some of them may have been on your listings! Would 10 additional closings fit in with your 2010 business plan? We are receiving a large number of serious and quality leads.
At the Meeting Those leads can be yours and 10 closings can be yours in When can we get started so that you can close your first one?
Recruiting New or Licensed Associates Use Craigs list and other websites to target the town you are focusing on Example of online ad: Looking for two people with knowledge of Paramus who possess or wish to obtain a NJ Real Estate License. Training classes and guaranteed leads to start your business.
Review: Strategy 1.Print a map of your market area 2.Place yellow markers where associates live 3.Mark your listings in green for the previous year 4.Track leads of Lead Network in market area 5.Use Lead Network to gain competitive advantage 6.Target associates in towns where your office does not have a presence (Market Share, Listings, and/or Units) 7.Use targeted recruiting dialogue