2009
Table of Contents In This Issue... 2. Message From The CEO
16. Why Work by Referral?
4. Business Planning
20.
A year of “flight-to-quality”
Power planning your business plan
6. Maximize Your Conference Experience The fine art of trade show networking
When clients feel appreciated, they’ll work for you
When it comes to public relations, Royal LePage is in the major league
24. Royal LePage TV
Your channel into your clients’ homes
10. Royal LePage Marketing Centre Set yourself apart from the competition
12.
26.
Royallepage.ca
With mapped listings, a fresh home page, and volumes of user-friendly new features, www.royallepage.ca becomes better than ever
Maximizing listings exposure while taking your marketing online
23. The Voice of Canadian Real Estate
8. Social Media
“My Great Neighbourhood” opens the right doors
Listings Marketing
The Royal LePage Shelter Foundation Putting abuse out of commission
28. Royal LePage’s First-Time Homebuyers’ Report
Leading Edge Magazine is published annually by Royal LePage Canada, 39 Wynford Drive, Toronto, Ontario, Canada M3C 3K5. Please contact us by email at marketing@royallepage.ca or by telephone at 416.510.5800. Contributors: Brian Buffini, Sandra Diaz, Joanne Geridis, Tammy Gilmer, Debra Harris, Jocelynne Haslett, Veronica Love-Alexander, Trea MacPherson, David McFarlane, Ingrid Menninga, Phil Soper. All Royal LePage products and services are subject to change. For the most up-to-date information, please visit www.rlpnetwork.com. © 2009 Brookfield Real Estate Services Fund.
Fall 2009 | Leading Edge Magazine | 1
Message From
the CEO
A Year of “Flight-to-Quality”
Increasingly, the strength of the Royal LePage brand has been an irresistible drawing card When we look back on 2009, I am quite certain that the Chinese curse, “may you live in interesting times” will seem an appropriate tagline for this rollercoaster of a year. The year certainly did not begin on a strong note. Dragged down by the worst global economic crisis in over half a century, the Canadian market suffered a horrendous drop-off in unit sales volumes during the dark days of the past winter. As steep and deep as the plunge was, the climb out of that abyss, starting in March, was equally as impressive. While I would advise against premature celebration with so many economic challenges still to resolve, it appears that the worst for this cycle is now behind us. The Canadian real estate market has been a reliable source of advancement The Canadian real estate industry and economy are cyclical in nature. We experience periods, such as most of this decade, in which the industry, and house prices, grow at a rate greater than incomes. And then the market ‘corrects’ which gives home prices and listings supply an opportunity to adjust to consumer demand. The important thing to remember, for both your own career planning and to reassure your clients, is that the Canadian real estate market has been a reliable source of advancement for a very long time. Industry growth over the decades has been approximately 10% per year, half of that in home price appreciation; half in increased unit sales. Few industries can speak to historical expansion of this quality. If there is a silver lining to the storm clouds we’ve lived with during the recession, it is that Royal LePage has fared
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considerably better than the competition. More brokerages and more agents are choosing to join our network. When market conditions are difficult and a market leader grows at the expense of others, we refer to this as a ‘flight-to-quality.’ Flight-toquality is a stock market phenomenon occurring when investors shun capricious bargains and speculative investments and put their faith in solid, bluechip companies. Well, it doesn’t get any more bluechip in Canadian real estate than your Royal LePage company.
brokerages and agents have been simply too busy to look around, sticking with what they have because it was the path of least resistance. When asked “Show me the value”, Royal LePage has the goods As the market slowed in 2008, we found more agents and more brokerages were asking themselves, “what’s out there?” And “show me the value.” Increasingly, the strength of the Royal LePage brand, and
If there is a silver lining to the storm clouds we’ve lived with during the recession, it is that Royal LePage has fared considerably better than the competition. In the recent years of plenty, consumers and REALTORS® alike have sometimes turned their back on quality. Some consumers have listed with low-service discounters, erroneously thinking that a house in a hot market ‘sells itself’ and therefore the advice and counsel of a quality professional isn’t necessary. Some
joined Royal LePage in 2009, I’d look to Calgary, Alberta and to Brampton, Ontario. In the west, we were very happy to welcome Royal LePage Solutions to the family. Formerly one of Keller Williams’ leading brokerages, they chose to move to Royal LePage in order to be part of something bigger and more enduring. Just northwest of Toronto in Brampton, one of Canada’s largest Coldwell Banker businesses decided that they too wanted to affiliate themselves with a market leader. A hearty welcome to Royal LePage Innovators! At Royal LePage, we have been dedicated to providing the support you need to succeed, in bad times and in good, since 1913. The real estate market will forever fluctuate and keep us on our collective toes. Rest assured that we are stronger than ever, and very well-positioned for growth.
the quality of the products and services that the company offers, has been an irresistible drawing card. Royal LePage has enjoyed an exceptionally strong year in franchising. To highlight just two examples of outstanding brokerage teams that have
Phil Soper is the President and Chief Executive of Royal LePage Real Estate Services and can be reached at president@royallepage.ca.
Royal LePage has long been the leader in leveraging technology to provide innovative business and marketing services to the Canadian real estate industry. It will come as no surprise to you that we have been using different tools and approaches to leverage the phenomenon that is social media. Many of our clients are ‘enjoying the conversation’ that comes from participation in these social networks. It’s important for the company, and you, to be there. Social media offerings such as Facebook and Twitter have a way of becoming trendy very quickly and waning just as fast. Our approach is to establish our presence, to help you take advantage of the technologies that make business sense, and finally to keep light on our feet – moving our focus when the value dissipates. Many of you already follow my ‘mini-blogs’ or posts on Twitter. If you’d like to see how the system works and hopefully pick up some value in the process, please follow me at www.twitter.com. Address: PhilSoper.
Fall 2009 | Leading Edge Magazine | 3
Business Planning Power Planning Your Business Plan
Why the gap between what we believe and what we do? Or, in this case, don’t do? I’ve heard a lot of reasons for not planning, but these four top the list: “I’m doing fine – I don’t need a plan.”
Are you flying by the seat of your pants? Before setting out on a trip most people have some sort of plan. Typically, we would have a destination in mind, a mode of transportation, a route, and how much money it will cost, figured out before we set off. After all, most of us wouldn’t risk leaving our precious vacation time, and dollars, totally to chance. Now, think about your business as a journey. Have you thought through the year ahead with the same level of detail? Are you clear on your destination (goals)? Do you have a route to achieving your goals (strategy) mapped out? Or are you deciding on a course of action as you go along, without navigation aids, flying by the proverbial seat of your pants? Only 3% have a written business plan It’s remarkable that most of us will spend more time planning a week’s vacation than we spend on creating a plan for the
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very thing that funds our lives. Research from a variety of sources consistently tells us that only 3% of REALTORS® have a written business plan. In my experience as a business consultant and with my exposure to literally thousands
When I left consulting in the United States in early 2006, the average REALTOR® was starting to clue in to the downturn occurring in America’s residential real estate market. The media didn’t catch on for another few months. But the REALTORS® I was working with knew what was happening and were actively making changes in their businesses. They didn’t have a crystal ball but they did have the next best thing – a business plan. It was telling them they weren’t hitting their targets and adjustments were needed. They knew that when the wind direction changes, you need to adjust your sails. Those who adjust early are more prepared for whichever way the wind blows.
It’s remarkable that most of us will spend more time planning a week’s vacation than we spend on creating a plan for the very thing that funds our lives. of REALTORS®, I have to concur that very few have taken any time at all to create a business plan and most are operating without clear goals. Yet, when asked, REALTORS® consistently tell me they believe a business plan with written goals would help them to be more successful.
“I’m too busy.” Being busy doesn’t necessarily equate to being profitable. Being reactively busy is typically less dollar productive than being busy as a result of your business strategy. A strategic business plan need not take more than a day to complete. Taking one day out of the year to work
ON your business instead of IN your business, is a small investment with a big Return On Investment. “It’s too complicated.” The complexity of your business plan is completely within your control. And, yes, the more complicated the plan, the more difficult it may be to carry out. A plan’s essential components are a relatively short list that start at the top and work down: what you intend to earn in gross commission, where your business will come from, how much you are going to work, what you’ll spend, and what you’ll need to do to make it all happen. It’s up to you to provide as much or as little detail as you need to stay on track. “It’s a burden.” People often confuse having a set of goals with having a plan. A list of goals, particularly if they are just raw production numbers, can become oppressive when there isn’t a strategy connected to them. Goals identify what you WANT; a plan tells you HOW to get it. It’s a matter of knowing how Regardless of the arguments, the root of virtually all resistance to business planning is simply not knowing how. Even when recognizing how important it is, the prospect of sitting down to write a business plan when we don’t know how to do it can be so huge and looming that we either get scared off or justify our procrastination.
Debra Harris is currently an instructor for Royal LePage’s Power Planning workshops. With over a decade of experience in real estate consulting, Debra has helped top producers across North America achieve greater productivity.
Your big advantage: Royal LePage Power Planning Royal LePage REALTORS® have a great advantage for overcoming all the obstacles with our own Power Planning business planning workshop. The oneday program guides participants through the steps of completing a properly constructed, concise, annual real estate business plan. If you’re tired of flying by the seat of your pants, Power Planning can help you create an exceptional map to guide your year ahead.
Fall 2009 | Leading Edge Magazine | 5
Maximize Your Conference Experience The Fine Art of Trade Show Networking
(their names, their likes and dislikes), ask questions about their business and interests, and just take the time to learn more about them. Always carry business cards. In this line of business it should go without saying, but many people show up empty handed at conferences. Leave each person you meet with your card so that they remember you after the function. Ask the people you meet for their business cards, and write any details about them on the back when you have a spare moment.
So here it is. You may be a fairly new REALTOR®, new to the convention scene, or just interested in re-evaluating your time spent at industry conferences. You decide to go to a convention not just for a vacation but because you’ve heard that it’s a great way to make connections with suppliers/vendors and with other REALTORS®. Here are some suggestions to help you get the most out of your next event:
Volunteer. Helping at conferences is a great way to meet others. By working with committees you can build strong
Helping at conferences is a great way to meet others. By working with committees you can build strong relationships with the other members.
Book early! Booking flights and a hotel well in advance allows you to save money. Planning ahead will also ensure that you get a room at the host hotel for extended networking, plus it’ll save you travel time and travel costs.
relationships with the other members. You’ll also meet more people at an event if you are identified as a source of information.
Make friends. Getting to know your colleagues is the absolute best way to network because these will be the people who will remember your name, be willing to share their best practices and are most likely to refer clients your way down the road.
Be a good listener. Many people think that to be popular, they have to appear very interesting. Far more important than this, however, is the ability to show that you’re interested in others. Listen carefully to what people say, remember important details about them
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Dare to break away. Once you meet a great new contact, don’t stick with that person for the entire conference. Break away – go to a new speaker session or the trade fair area and venture into new areas with new people. The best conversations happen in the general open areas and in the exhibit hall during breaks, lunches, and receptions.
Connect with the conference presenters. They are often influencers who can help you get better networked into real estate. Take the time to visit their Web site and where they should all have email addresses. But, if they don’t, try to find them on sites like LinkedIn, Twitter or Facebook. Keep a positive attitude. You want to be remembered for your positive (but realistic) attitude so this is not the time
to complain or be negative. No one wants to hear about your bad times. Have fun. Go to the parties and enjoy them. Stay in touch. If you were fortunate enough to have a particularly nice conversation/meeting/drinking game with a group of people, don’t be afraid to send a thank-you note as a follow-up after the conference is over. Such notes should be handwritten on stationery and sent via snail mail but email is better than nothing. Book time to digest. Schedule the necessary time after the show (even though you are really, really busy) to review the notes and materials you collected and act upon them while ideas are still fresh and top of mind. Don’t miss out on future Royal LePage and industry conferences! It’s a great way to gain insight on best practices and to build your referral network. • The National Sales Conference is Royal LePage’s largest conference with up to 1,000 in attendance. The entire network is invited to attend this bi-annual conference held in September.
• The National Chairman’s Club Retreat is an annual ‘by invitation only’ event for the top 1% of the Royal LePage residential sales force to celebrate successes and achievements from the previous year at this retreat. • The National Brokers’ Conference is a bi-annual three-four day conference for Brokers/Owners and Managers to learn from top industry speakers, learn about new
products and services and share best practices with their peers. Visit www.royallepageevents.ca for more information and to register for your next conference experience.
Veronica Love-Alexander is Royal LePage’s National Events Marketing Manager. Veronica is responsible for planning and executing all of Royal LePage’s national events and can be reached at veronica@royallepage.ca.
I recommend that all Brokers attend conferences and encourage their agents both new and well established to attend and participate fully. In the past, I have had enough referrals to pay for the next two conferences and after the latest conference which was held in my home town, I received over seven referrals in the first eight months!
In my very first year as a REALTOR, attending the 2004 National Sales Conference in Québec City has become the backbone of my business. In six months, I received referrals from British Columbia, Manitoba, Nova Scotia, Ontario, and three from Québec! I’d say that’s a pretty good return on my investment!
If you have never attended the National Sales Conference before – what are you waiting for? This is a must attend for so many reasons. The networking opportunities, the educational materials, the energy and the enthusiasm will recharge your batteries. And [not to mention] there are deals just waiting to be referred!
Glenn Larkin | Broker/Owner Royal LePage Atlantic Homestead Ltd. St. John’s, NL
Daniel Cyr | Sales Representative Royal LePage Atlantic Dartmouth, NS
Leah Baynes-Bettger | Sales Representative Royal LePage Coronation West Realty Coquitlam, BC Fall 2009 | Leading Edge Magazine | 7
Social Media
“My Great Neighbourhood” Opens the Right Doors
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How is Social Media influencing the way we engage with consumers? One way Royal LePage is embracing the new Social Media is through our “My Great Neighbourhood” contest. First, some background: Neighbourhood information is an important and desirable asset to an online property search experience. However, gathering and maintaining neighbourhood information has been a challenge historically. It is costly to produce and usually does not represent Canada’s diversity with any equity – large city centres are featured, while more rural, smaller towns are ignored.
These two drivers led to the solution: “My Great Neighbourhood” – an interactive online contest that solicited consumers to tell us why their neighbourhood was the best in Canada. As an added incentive, we offered significant cash prizes. User generated content provides added value to consumers By soliciting neighbourhood information from those living in the neighbourhoods, we would have valuable, authentic information. In addition, Royal LePage is preparing to launch a map-based listings search interface on our corporate Web site. There
By soliciting neighbourhood information from those living in the neighbourhoods, we would have valuable, authentic information. Coinciding with this pervasive challenge was the high level of social media engagement by real estate professionals. Our network of approximately 14,000 real estate professionals was leading the way! Since many of our REALTORS® were already engaged in Social Media, our goal was to find a way to leverage the networking they had established in several key social technologies, while providing them with real value at the same time.
was a tremendous opportunity to mashup the neighbourhood content over our listings on the map. Much the same way you can turn on the pictures, wiki, and video content under the “More” tab on Google Maps. A great user experience is a great brand experience! We see that by providing consumers with rich, authentic content, when they need it most, we can offer a great user experience.
We supported the contest both online and offline with promotional material, including: • A consumer facing Web site where consumers can register, upload content, view and vote on submissions. • A viral widget that we disseminated to our network as a tool to help them promote the contest in their social networks. • A variety of Marketing Centre templates that can be customized and distributed to clients. • A contest brochure with a $100 coupon from TD Canada Trust. • Posters to promote the contest in your Royal LePage office or anywhere else in your community. In addition, we involved key influencers in the blogosphere to further champion the contest to consumers. Our “My Great Neighbourhood” contest has been tremendously successful and has accomplished a number of strategic goals. We have established a relevant corporate presence in key social networks, while acquiring valuable and authentic consumer generated neighbourhood information.
David McFarlane is Royal LePage’s Creative Director and Social Media Strategist. David provides creative input into marketing initiatives across all media and is responsible for developing and leading the company’s Social Media strategy.
I’m new to the neighbourhood and just wanted to send out a quick hello and add that my husband Nick and I (and daughter Abigail) actually chose to move to Sunny Acres because of this [My Great Neighbourhood] essay! I’ll be voting for sure. Can’t wait to get to know everyone, participate in and help out with all the events. - Crystal (client of Kevin Drew, Royal LePage Royal City Realty)
Fall 2009 | Leading Edge Magazine | 9
Royal LePage Marketing Centre Set yourself apart from the competition Proven to generate business If you ask Broker-Owner Holger MuellerSparenberg of Royal LePage Coast & Country Realty why they’re winning over clients and top producing agents from the competition, he’ll happily tell you it has a lot to do with their consistent use of high quality marketing materials. Mueller-Sparenberg and his team are 100% sold on using the Royal LePage Marketing Centre to create exceptional marketing collateral and listing presentations that are attracting customers, agents and a good deal of praise to their business. With an impressive front office window filled with Marketing Centre feature sheets, Coast & Country has turned their window into a powerful lead generation tool. The curb appeal is far-reaching, often drawing in walk-ins from adjacent streets. On a recent visit to the office, even the Registrar of the Real Estate Commission of Nova Scotia commented on how striking and professional their window display was. If you, too, are looking to set yourself apart from the competition, look no further. The Marketing Centre is one of the most effective Royal LePage resources to bring you proven results. For years, Royal LePage agents, like those at Coast & Country, have been sharing stories of improved productivity and acquiring repeat and referral business, as a direct result of using it.
An industry-leading resource The Royal LePage Marketing Centre is a robust online resource to help you build your business and better serve your clients. Choose from hundreds of professionally designed print, email and multimedia templates to create customized marketing pieces and distribute them via mailing, emailing, hosting, or through drip campaigns. Plus, with over 1000 stock images, numerous industry articles, and new proprietary tools added each month, it is a valuable resource for your every marketing need: • Prospect Marketing - Tools to Help You Generate Leads • Prospect Management - Tools to Help You Convert Leads to Sales
• Listing Marketing - Tools to Help You Work With Sellers • Buyer Marketing - Tools to Help You Work With Buyers • Customer Relationship Management - Tools to Help You Build Repeat & Referral Business To learn more about the Royal LePage Marketing Centre, visit us online at www.rlpnetwork.com
Jocelynne Haslett is the Manager of Partnership Services at Royal LePage Canada. She is responsible for three key services to help you build your business: the Marketing Centre, the Red Market and national partnerships.
The long-time use of professional marketing materials created in the Marketing Centre has proven to be a strong competitive differentiator for Coast & Country. It has directly contributed to the growth of their business. When I decided to make the move to Coast & Country, one of the things that impressed me most was their industry-leading marketing resources, some of which were reflected in that popular front window. Todd Hall | Sales Representative Royal LePage Coast & Country Realty Annapolis Royal, Nova Scotia
Fall 2009 | Leading Edge Magazine | 11
Royallepage.ca
With Mapped Listings, a Fresh Home Page, And Volumes of User-Friendly New Features, www.royallepage.ca Becomes Better Than Ever
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You’ll experience some dramatic changes when you visit the Royal LePage Web site in 2010 With all-new map-view listings, a vibrant new design and streamlined navigation, the redesigned site will make finding real estate information easier and more intuitive. In addition, key new site features will include detailed neighbourhood information, new ways to search for agents and offices, and easy access to home buying educational material. Unique new map-based listing search While the home page will continue to feature a simplified quick search to quickly view property listings by area, you can now see them in context to other points of interest – proximity to schools, for example. For the first time, buyers will be able to zero in on homes in their most desirable neighbourhoods, and then narrow their searches by proximity to the community assets they want most. While the quick search forms a major part of the home page revamp, listing search navigation will appear on every page. New “always there” search links mean no dead ends. No matter where your interests take you, you will quickly and easily access the property listings from every page of the Web site. New ways to find agents by certifications and specializations Redesigned with usability in mind, as well as visitor involvement, the site will provide a number of engaging, new options when searching for an agent. Visitors will be able to search for agents using an expanded list of specializations and certifications. A simple, intuitive
search will allow them to find agents in an area with a specific, desired specialty; such as NAGAB, SRES® and the Royal LePage Shelter Foundation supporters. This new search capability will benefit REALTORS® in a big way. Agents will stand out and be noticed for their efforts and areas of expertise by potential new clients searching for a REALTOR®. An all-new colourful look with new content and links The redesigned site – the result of extensive research, and client and agent feedback – will feature not only new architecture for easier navigation and access to information, but also new content and links. In addition, a very visible change to the new site will be the addition of much more vibrant colours. Using the expanded secondary colour palette to full advantage, there’s a bright, modern look throughout. More intuitive access to information and content Many of the updated features are about giving users more choices in how they access content. Here are just a few examples of new site enhancements: The Royal LePage Shelter Foundation, Canada’s largest public foundation dedicated exclusively to funding women’s shelters and violence education programs, has more exposure. With an expanded and more visible presence, we can proudly promote all of the charitable work the foundation is doing with the support of our great brokers and agents.
a home, the site content is being reorganized so that finding information is more intuitive. They will be able to quickly access Royal LePage TV videos and real estate advice through easy-to-find, relevant links. Real Estate Career Visitors considering a career in real estate will have easy access to Royal LePage’s free Personal Orientation Profile™. This interactive tool has been enhanced to provide useful career management feedback and information about becoming a Royal LePage REALTOR®. More value added benefits Bottom line, look for a great new Royal LePage site that’s easier to navigate than ever before, streamlines the search process, and enhances the entire experience for home buyers and sellers. In addition, the redesigned Web site’s content will be updated easily and frequently. It will continue to evolve, creating an even more seamless and engaging experience for visitors, and offering more value-added benefits to clients, brokers and agents. Visit www.royallepage.ca to see and experience all the exciting changes.
Information and Advice For visitors looking for tips and howto information about buying or selling
Joanne Geridis is Royal LePage’s Director of Operations. Joanne manages royallepage.ca, rlpNetwork and our Customer Care team, and can be reached at joannegeridis@royallepage.ca.
Fall 2009 | Leading Edge Magazine | 13
Exceptional People From REALTORS® who champion community initiatives to those who go above and beyond to place families in homes, our network of approximately 14,000 real estate professionals continues to make Royal LePage the real estate company of choice. At Royal LePage we’re committed to attracting and retaining exceptional people. We offer unparalleled sales, marketing, training and technology tools to ensure our talented real estate professionals maximize their entrepreneurial potential. Your success is our success.
Visit www.royallepage.ca to join our network of exceptional people.
Why Work
by Referral?
When Clients Feel Appreciated, They’ll Work For You by Brian Buffini
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Growing up in Ireland, my four brothers and I worked in the family painting business each summer. Our dad reminded us regularly that in a small country like Ireland (where it seemed everyone had the last name Murphy or Kelly) the quality of our work had no option other than to be excellent. If the work was excellent your good name would spread like wild fire and you’d have more business than you could handle. Conversely, the opposite would be true if your work was poor and you could wind up with a dry and barren business. Question: Can you put your name on it? So each of us were mentored by my grandfather Harry Buffini who would take us into his home each summer and, like Mr. Miyagi with the Karate Kid, walk us through a series of painstaking exercises to help us become what he called “professional painters.” Later on when you graduated to the jobsite my grandfather would come and inspect your work at the end of each day.
to this day with Royal LePage’s dedication to professionalism, service and high standards. The difference between my
If the work was excellent your good name would spread like wild fire and you’d have more business than you could handle. Pointing a cigar stained finger at what you had done that day, he’d ask: “Well, Brian can you put your name to it?” If you couldn’t put your name to the work you’d done, you had to do it over. The goal was to not just meet our customer’s expectations but exceed them. Grandad knew that if we exceeded their expectations they’d exceed ours and send us lots of business. I never got to meet A.E. LePage but he sounds a lot like my grandfather. He believed in both customer service and innovation. It’s clear that his legacy stands
grandfather and A.E. was that in addition to providing great service, A.E. was also a world-class promoter. Some of the creative things he did were way ahead of his time whether building a house in one day, pioneering newspaper advertising or using film to showcase homes. Old-world values and a strong promotional marketing system I built a very successful real estate career by taking old-world values and combining them with a strong promotional marketing
system. When you put those two things together you get the kind of business you’re looking for. As an agent, I averaged 30-40 high-quality referrals a month because I had a system that promoted value and benefit to my customers while communicating my character and competence. Today, I’m Chairman of Buffini & Company and we’ve built the world’s largest business training and coaching company based on this system. In the U.S., our clients earn seven times that of the typical NAR Member and the several thousand Canadian agents we serve are on pace to exceed the incredible success of their U.S. counterparts. Referral vs. word-of-mouth business The single biggest mistake I’ve seen people make when coming into contact with the systems we teach is that they confuse simplicity with simplistic. Our system is very simple to understand yet requires a significant amount of elements to make it come together.
Fall 2009 | Leading Edge Magazine | 17
Why Work by Referral? (…continued from page 17)
Many people think they are already working by referral when in fact they have a word-of-mouth business. Let me give you some examples of word of mouth. Has this ever happened to you? A friend of a friend or a friend of a family member does a transaction but does not use you? Someone tells you about his or her acquaintance who wants to move: “I gave them your card and told them to call you!” Yet you never heard from that person? These are classic ‘word-of-mouth’ symptoms and the reason people don’t spend time, money or attention on the referral side of their business is that they believe they can’t direct it. They feel that referrals just show up out of the blue whenever they show up.
If there is one element the service industries have in common it is the importance of relationships. Building relationships is the cornerstone of a successful real estate business... At Buffini & Company, we’ve taken the Working by Referral system and engineered it so that it’s duplicateable and produces a steady stream of high-quality referred clients. That’s why I’m so excited about the relationship we’ve entered into with Royal LePage. Whether it is our 100 Days to Greatness® training program or collaboration on a number of events, it
excites me to see a company with the same values and principles that I was raised with get a hold of real estate’s most powerful marketing system. Working by Referral If there is one element the service industries have in common it is the importance of relationships. Building relationships is the cornerstone of a successful real estate business but the typical way a lead is generated in this business is all too often non-relational (i.e. cold calling, door knocking, etc.). When I first entered the real estate industry in San Diego, my personal philosophy on how to treat people did not seem to sync up with these traditional methods. The day I realized that clients who appreciated the service I provided would actually help me build my business by referring others to me was the day my career changed forever. I saw great success as an agent because I implemented a systematic approach to generating referred leads. With referred clients, any obstacles we encountered did not become disputes – they were simply challenges we worked together to overcome. A systematic and proactive approach I believe that without a system, you are simply waiting for word-of-mouth
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business. With a systematic and proactive approach to lead-generation by referral you are actively creating opportunities to get leads, not ‘waiting’ for them. So let’s take a look at how you can achieve this: Build – Gather the names of all those you know, including past clients. Sort – Prioritize this database and consistently communicate with those who refer you most. “A’s” – most likely to refer you. “B’s” – would refer you, if asked and shown how. “C’s” – might refer you in the future. “D’s” – names to be deleted from your database – it’s good to get rid of a headache, so do this up front! Qualify – Using targeted dialogues, continually prune and refine this database to determine who is willing to do business with and refer you.
• Contact (Calls and ‘Items of Value’)
As you can see, you don’t need to market to everyone; you just need to market to your most responsive audience. Provide first-class service and value to your high referring clients and you’ll cultivate a core group of advocates for your business.
• Care (Personal Notes and “Pop-Bys” visiting clients with a small, meaningful gift)
“Client Appreciation Program”
Provide first-class service and the referrals pour in
At Buffini & Company, we teach our Members to implement what we term a “Client Appreciation Program”. Often, salespeople “forget” about their customer after the sale is made but we teach a 3-pronged communication system designed to stay in contact with clients after the sale is made. This system has three elements:
• Community (Business luncheons and client parties)
It is important to let clients know that instead of prospecting for business you devote your time to serving their needs. I based this system on the philosophy of “Give, Ask & Receive.” I gave outstanding service and provided “Items of Value” to my customers, I followed-up each conversation with a request for referrals,
and because I had provided first-class service – the referrals poured in. This is really about being intentional. It is a proven system based on principles that stem from the heart of sales: relationships. Working this system this way means that you’ll not only be able to put your name to the work you do, your clients will be more than pleased to put their name to you and refer you to all their friends. I guess as much as things change is as much as they stay the same!
Brian Buffini is the Chairman/Founder of Buffini & Company. Headquartered in San Diego, Buffini & Company is the largest real estate training and coaching company in North America.
Fall 2009 | Leading Edge Magazine | 19
Listings Marketing
Maximizing Listings Exposure While Taking Your Marketing Online
How do you maximize exposure to your listings without maxing out your budget? The key is to be strategic in your marketing efforts by targeting your initiatives and taking advantage of new and innovative tools to reach your audiences. While the exact formula for successful real estate marketing will vary by region and market, there are some fundamentals that apply across the board. Most importantly, recognize your target market More often than not, a seller will be your first and best indication of the potential buyers you will want to target.
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A simple example: If your seller is a family with school-aged children, their four-bedroom suburban home in close proximity to schools and parks is most likely to appeal to similar young families with children. Families with similar characteristics are likely to be a good target audience and should be the focus of your marketing efforts. A marketing strategy that concentrates on urban singles or empty nesters may not be a good use of your hard work and your money. Prospects are searching online first – make it count! The Internet has revolutionized how properties are marketed and sold today. Potential buyers aged 44 and younger – a huge market for your properties – look
online first when searching for a home*. But they’re not the only ones going to the Internet. Home buyers of all ages have discovered the Internet and the advantages of taking their property search online first. To reach the most potential buyers, you need to give your listings the best exposure. This includes making sure your listings are online, having a current, well-designed Web site, and leveraging social media. What are buyers looking for when they shop online? When buyers view your listings online, there are some key components they expect to see.
* Source 2008 Profile of Home Buyers and Sellers (National Association of REALTORS ®)
Photos that tell the story When buyers go searching for a home online, the first thing they’re looking for is photos. You want to include lots of good quality photos in your listings. And for maximum impact, select photos that will appeal to your target market. If you’re marketing to families, you may want to include photos of the kids’ bedrooms, the large backyard with a swing set, even the park across the street.
audience such as the spacious backyard or large, family-friendly great room.
Access FREE resources to maximize your online marketing
Neighbourhood information
To help maximize your marketing, without maxing out your budget, the Royal LePage Marketing Centre is a free resource for you to create high-quality marketing material (print and online). This tool allows you to create customized marketing materials – such as slide shows, Web commercials and feature sheets – then, take advantage of options that allow you to include your marketing pieces with your listings, or link to them on your Web site, your Twitter postings, and your Facebook page.
When moving, buyers may be unfamiliar with a new neighbourhood or community. Neighbourhood news and links to Web sites that provide useful information or services will not only enhance your online listing, it will help establish you as a trusted source of information about the community.
The Internet has revolutionized how properties are marketed and sold today. Information about the property
Your contact info
Next to photos, buyers are looking for property information. Your description can tell them so much more than the simple listing data. Again, tailor your description to your target market. If you’re marketing to that family with young children, emphasize the proximity to schools, parks and recreational centres. Point out the home’s family-friendly attributes like open-concept kitchen, mudroom, kids’ bathroom, and the potential of the unfinished basement for a playroom. Paint a picture for potential buyers by focusing on how each feature can benefit them.
For most REALTORS®, it’s standard practice to include your email address and Web site links along with your telephone numbers. More innovative REALTORS® are also including information about how to connect with them through social media applications such as Facebook and Twitter.
To learn more about maximizing the impact of your listings marketing, attend a REALTOR® Marketing Workshop in your area! Contact the Learning Services team at learningservices@royallepage.ca for more information.
Trea MacPherson is the Manager of Learning Services at Royal LePage Canada. She leads a team of Learning Consultants responsible for developing and delivering training programs to our Network. Trea can be reached at learningservices@royallepage.ca
A virtual tour Internet-savvy buyers are also looking to experience the property virtually. Including multimedia in your listing, such as a slide show or web commercial, allows you to highlight the property’s assets. Potential buyers can get a better sense of the home and imagine themselves in it. To create the most impact, focus on areas that will appeal to your target
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The Voice of Canadian Real Estate When it Comes to Public Relations, Royal LePage is in The Major League
The more doors we open through PR, the more business we gain Our public relations program helps us achieve a number of goals: • To gain mind-share versus the competition; • To promote positive consumer awareness; • To advance thought leadership, goodwill and third-party endorsements. PR stimulates awareness of and the demand for our company’s products or services. It creates credibility by strengthening our company’s image and perception. By increasing our visibility, PR has a direct correlation to our sales. PR that gets results takes time and targeted efforts
When the Bank of Canada looks for information regarding trends in home purchases, where does it turn? The answer: the Survey of Canadian Home Prices, published quarterly by Royal LePage! Surprised? The Bank of Canada is just one of the many organizations and individuals that rely heavily on Royal LePage and our public relations activities. Through sustained, thoughtful, and innovative public relations, or PR as it’s commonly called, Royal LePage has become the Voice of Canadian Real Estate. Royal LePage consistently outpaces competitors in media coverage Research shows that publicity is an extremely powerful consumer awareness tool. And at Royal LePage, we not only
recognize this, we consistently outpace the competition. PR builds awareness of the Royal LePage brand. And this helps to position our brokers and agents as the leaders and experts in all things real estate. PR efforts generate extensive publicity and awareness We use public relations to gain trust and understanding between our organization and our various stakeholders, including clients, employees, investors, government and the Canadian public. Just look at the influence of our quarterly Survey of Canadian House Prices, a PR vehicle we’ve published since 1974. Today, this has become a main source of reference for the Bank of Canada, as well as governments, businesses and individual Canadians.
It takes time to develop the right messaging and to nurture media relationships. We also closely follow public dialogue so that Royal LePage reports and articles are relevant and valuable to the public. Our PR program includes: summer and winter recreational property reports, quarterly house price surveys, market survey forecasts issued twice a year, as well as special reports and releases based on timely housing topics that provide guidance and expert advice.
Tammy Gilmer is the Director, Public Relations and National Communications at Royal LePage Canada. Tammy oversees our public relations and communications programs and can be reached at tgilmer@royallepage.ca.
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Royal LePage TV Your Channel into Your Clients’ Homes
Royal LePage TV now has more than 20 episodes to help guide consumers through the real estate transaction by providing valuable tips on buying, selling and owning a home.
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Homebuyers and homesellers watch online videos According to ComScore, the global authority on online marketing and usage, “Nearly 88% of the total Canadian Web audience viewed online video in February, 2009.” And with 84% of all homebuyers starting their home search on the Internet, according to the National Association of REALTORS®, video has become more important than ever for REALTORS® who are looking to differentiate themselves. Sharing episodes with clients is good for business There are many benefits to adding video content to your Web site; online videos keep people on your site much longer and videos can help you generate more leads by providing valuable content to your visitors. Since 2007, Royal LePage TV has produced a series of professional episodes that cover everything a consumer needs to know about home buying, selling and owning a home. Each of these Royal LePage TV episodes is available for you to put on your Web site and share with your clients. Our new 2009 series, hosted by HGTV’s John Bell and returning French host, Helene Caron, have a fresh new look and cover a wide range of introductory topics
aimed at new homebuyers. These videos are sure to help answer some important questions, while encouraging viewers to get in touch with their local REALTOR® before, during and after the sale.
• Copy the link of your desired video and e-mail it to your clients.
Get Royal LePage TV today
• Direct your clients to the Royal LePage TV Web site at www.royallepagetv.ca
There are several easy ways to share the episodes with your clients:
• Select the “Send To A Friend” option to send the selected video to your clients.
• Embed the videos into your Web site. For detailed instructions, visit rlpnetwork > REALTORS > Advertising > Royal LePage TV
Ingrid Menninga is the Marketing Manager at Royal LePage Canada. Ingrid is responsible for creating and developing the Company’s marketing initiatives. Ingrid can be reached at imenninga@royallepage.ca or 416-510-5642.
What our agents are saying about Royal LePage TV: Royal LePage TV is one of the great features that makes my Web site stronger. It makes me look more polished and professional and answers a lot of my clients’ questions.
My clients don’t know what questions to ask so Royal LePage TV is a great way to help them get started. It is a great introduction to real estate for my clients.
Erika-Leigh Haley | Royal LePage Advance Realty, Campbell River, BC.
Ross Nicol | Royal LePage ProAlliance Realty Belleville, ON.
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The Royal LePage Shelter Foundation Putting Abuse Out of Commission
new cause-marketing tools to recognize our donors including: sign riders, donor recognition logos, charity calendars and Shelter night lights. Our biggest new initiative has been the National Garage Sale for Shelter as part of Shelter Month. On Saturday, May 23rd over 80 Royal LePage offices raised $120,000 at more than 200 charity garage sales. We decluttered for a cause and the event generated 11 million media impressions to raise awareness about abuse prevention. How do we help? Commission donations stay locally to support 150 women’s shelters fund critical children’s programs, job training, counselling and cover the cost of food, housing, and childcare.
Despite a changing real estate market, in 2008 Royal LePage REALTORS® broke all records raising an astounding $1,390,000 to help more than 30,000 women and children. As the only national real estate company with our own charity, we have contributed more than $9 million since 1999 to become Canada’s largest public foundation dedicated exclusively to funding women’s shelters and violence prevention programs. “ The Shelter Foundation is an initiative that I am proud to personally endorse, especially knowing that 100% of every dollar I donate goes directly to the support of women’s shelters and programs to help end the abuse of women and children.” – Terry Longhorn (Top 10% donor) In the past year we’ve held our most successful galas, golf tournaments and conference events ever thanks to the
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incredible contributions of Royal LePage brokers, agents and staff. Each Spring more than 50,000 Royal LePage red Shelter Blooms tulips grow around the country as part of our special annual fundraiser. The Royal LePage Shelter Foundation has been proud to recently launch many
“ Clients and I are heartened to know that – with every purchase or sale of a home – we’re contributing to another family’s well-being.” – Jeff Derksen (Top 10% donor) We also are focused on breaking the cycle of violence through prevention and education grants across the country
As a REALTOR®, my main objective is to find my clients and their families a home they can be happy in. By supporting the Royal LePage Shelter Foundation, I am ensuring that those who run into unhappy situations such as domestic violence can find happiness in a home once again! – Andrew Hanney (Top 1% donor)
From staff morale building, showing that we give back to the community and good reasons to get in touch with past clients & customers, the garage sale was a superb tool to reach out and touch those we care for. – Lincoln Thompson, Broker-Owner with the Canadian Women’s Foundation and through our partnership with the Fourth R Project. “ The Fourth R would not be where it is today if it were not for the Royal LePage Shelter Foundation. By supporting our efforts to develop a universal, schoolbased strategy for preventing violence in relationships, we were able to set up a sustainable network of educators, researchers, and community partners that is growing at a fast pace. This brings us closer to our goal of ensuring that the next generation of youth will promote healthy, positive relationships. The backing and support of the RLSF has had an immense impact not only on the Fourth R, but on the field of violence prevention.”
Philanthropist of the Year: Vivian Risi Partner of the Year: TD Canada Trust Alberta Individual: Bob Morrison Alberta Office: RLP South Country BC Individual: Duncan Brown BC Office: RLP Coast Capital East Coast Individual: Glenn Larkin East Coast Office: RLP Truro Manitoba Individual: Todd Labelle Manitoba Team: Royal Rack & Roll Committee
Ontario Individual: Jody Lavoie Ontario Team: Team Heaps Estrin Ontario Office: RLP Performance Realty Quebec Individual: Cathy Simard Quebec Office: RLP Excellence Saskatchewan Individual: Ron Skinner Saskatchewan Office: RLP Regina Realty Thank you to all of our Donors! Top 1% 2008 Shelter Foundation Donors: Doug Hayden, Lauretta Stewart, Andrea Morrison, James Wright, Elli Davis, Brian Elder, Charles Gorley, Donald Gault, Andrew Hanney Together we can make a difference!
Sandra Diaz is the Executive Director & President of the Royal LePage Shelter Foundation. Sandra can be reached at shelterfoundation@royallepage.ca or visit www.royallepage.ca/shelter for more information about the Shelter Foundation.
– David A. Wolfe, Ph.D., ABPP The Fourth R Congratulations 2008 Shelter Award Winners! Shelter Award recipients are nominated by you for making an outstanding or extraordinary contribution of time and effort to their local shelter and the Royal LePage Shelter Foundation and we are thrilled at the chance to be able to recognize some of our unsung heroes.
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Royal LePage’s First-Time Homebuyers’ Report However, job security is an important motivator in the west. 84% of first-time buyers in British Columbia and Alberta said job security will influence them. In addition, Atlantic Canadians were less likely to be swayed by declining interest rates than other Canadians. Only 72% said lower interest rates will likely prompt a buying decision, compared to 86% of Canadians overall. Tax credits also sweetening the pot for first-timers How influential to your first-time buyers are government inducements like the First-Time Homebuyers’ Tax Credit and the Home Renovation Tax Credit?
For first-timers, affordability is the driving force for purchasing a home What’s most likely to motivate your firsttime buyers to take the home ownership plunge now? Lower, more affordable prices! Royal LePage’s First-Time Homebuyers’ Report 2009 highlights affordability and job security as the two most important factors for purchasing a property for Canadian first-timers. Improved affordability “a powerful driving card” across the country “While these consumers appreciate government incentives such as tax credits, greater RSP deduction limits and rebates on home renovations, it is markedly improved affordability that is proving to be the powerful drawing card,” said Phil Soper, president and chief executive of Royal LePage Real Estate Services.
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While potential first-time homebuyers agreed that affordability was their top consideration, the survey also revealed differences amongst buyers in various regions of Canada. Low interest rates offer added incentive to B.C. buyers In provinces such as British Columbia where high housing prices have kept some buyers out of the market in recent years, 92% of potential first-time buyers are now motivated by low interest rates, and 96% say lower home prices are likely to prompt them to buy. Job security, interest rates less important in Atlantic Canada In Atlantic Canada, where local economies have been resilient in the face of a worldwide recession and housing markets remain stable, 43% of first-time buyers say that job security is a factor in their decision to buy.
The most popular incentive for Canadians was the First-Time Home Buyers’ Tax Credit. In addition, the recently introduced Home Renovation Tax Credit for 2009 is also influencing first-timers, especially those in Ontario and Quebec. While the credit was cited by 42% of potential first-time buyers across Canada as either ‘very likely’ or ‘somewhat likely’ to directly influence their purchasing decision, it was a much stronger motivator in Ontario and Quebec. Find out more about what’s influencing first-time buyers If you require more information or would like to obtain a copy of the report, please contact Tammy Gilmer, Director of Public Relations & National Communications at (416) 510-5783 or via email at tgilmer@royallepage.ca Or to view the press release and report, go to: www.royallepage.ca
Steve Dunn
Corporate Sales Manager 1-866-235-5489 416-505-1717 sdunn@pcscanada.com Online orders: www.pcscanada.com/royallepage
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