Creating Valuable Real Estate Services:

A premium business of service, quality and profit.

Amanda McMillan@homepartner

Chicago, ILwww.ChicagoHomePartner.com

Who am I?

We are all the same.

The same tools…The same data…

The same opportunities…

Why should you listen to me?

2010 was my best year35+ transactions

$350k in GCI18 closed - 6% listings (Chicago average 5%)

A quick look at our industry and our clients.

Realtor® Facts:• 750,000 Realtors® in 2000• 1.4 Million Realtors® in 2006• 1 Million Realtors® as of 2011• 40% made less than $25,000• 16% made more than $100,000

Courtesy of NAR 2010 Member Profile

The Mindset of the Home Seller• 41% of sellers who used a real estate agent

found their agents through a referral from friends or family.

• 23% used the agent they worked with previously to buy or sell a home.

• 55% of sellers reported that they were satisfied with the process.

• 78% of clients would NOT use the same Realtor® again.

Courtesy of NAR 2010 Home Buyer & Seller Profile

That means 77% of sellers did NOT use the same agent to SELL their

home they used to BUY it.

Courtesy of NAR 2010 Home Buyer & Seller Profile

That means 45% of sellers were NOT satisfied with the process of

selling their home.

Courtesy of NAR 2010 Home Buyer & Seller Profile

The Mindset of the Home Seller

If these are the top things a seller is

expecting from an agent wouldn’t they pay

a premium to receive ALL of these services?

The Mindset of the Home Seller

If 77% will not use their original agent at X% and 45% were unhappy with the process…

Might they be willing to pay more to be satisfied

to have their expectations surpassed?

Would YOU pay a “premium” to have your expectations for a

service surpassed?

It’s time to become a Premium Brand.

Apple computers – a study in premium price brands.

What It Means: Services, support, training, and live customer service can bolster pricing in an age when consumers can be

easily frustrated by customer service – so long as these value-adds are perceived to be part of the product itself by consumers.

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How does this work in Real Estate?

A Client First Mentality• Less Transactions• Increased Service• Better Communication• Higher Quality• Higher ROI per transaction

Moving from a focus on “value” to making your services “valuable”

3 Components of a “Premium Brand” Agent

1) Be a Better Agent

• Raise the Bar• Create Long-Term Clients• Advise Clients Accordingly• Pricing Correctly

2) Provide & Demonstrate Value

• Perception• Understanding• Communicate

3) Become Valuable

• By Exceeded Expectations through our services, they in turn become valuable.• Differentiators• Essential Client Communication• Tools and Approaches• Client Maintenance • Interpreting the market

Why is “better agent” #1?

Only by Communicating, Explaining, and Consistently

Delivering Valuable Services can you command a “premium”.

Establishing a Premium Service• Listen to what THEY perceive as Valuable• Explain the services associated • Discuss the importance of said services• Set expectations for services provided• Outline how you will communicate services• Demonstrate these consistently• Never settle for less than “premium”

Make the Listing Process Valuable(2 Step Process)

Step 1 – Establish Value• Establish Value (hear, understand clients)• Find and understand their Point B.• Familiarize self with listing• They want to show why their house is

special.• List of “changes & modifications” to property

Step 2 – Options Meeting• Options (rent, sell, wait, etc.)• Marketing Introduction• What I do• Why I do it • What it means to you

• Marketing Plan needs to be “fluid”• Statistics• Communication Plan

Stand-out Branding

40

Stand-out Branding

41

Virtual Tour Statistics

42

43

Listing Value Tools

44

Reverse Prospecting

45

Cross Platform Branding

46

Syndication Statistics

Online Distribution Portals

47

Client Sharing on Social Media

48

LEAP Real Estate Systems

49

Competition Analysis

50

Client Communication Tools

Client Communication Tools

51

Step 2 – Pricing Analysis• Analysis of the Market• Macro (National) – Micro (Local) –Hyperlocal (Specific)

• Comps – Big Sample Pool• Include Cancelled Comps• Above & Below Market• Acid Test

Step 2 – Pricing Analysis• Technology Used Discuss Pricing• Keeping Current Matters – Steve Harney• Agent Metrics• Median Pricing• Supply and Demand• Target Price Range

• Cloud CMA• Realist Tax Records

Keeping Current Matters

Agent Metrics

Cloud CMA

Realist Tax Records

Is it all about a higher commission?

59

No, it’s about a different approach, a different way to run your

business.

Quality vs. Quantity Focus

I limit the number of listings that I will take on at one time.

I limit the number of buyers that I will take on at one time.

I am able to deliver better results due to this commitment.

Essentially, I am able to deliver a quality product/service that my

clients are willing to pay a premium for.

I provide a premium service.

I provide a premium service.

YOU can provide a premium service.

Figure out what a premium brand means to you.