Here is an overview of our two excellent speakers today:
1. Michael Russer (also known as Mr. Internet) - The New Consumer: The Technology Generation
* Russer provides us with some handouts/articles that I will bring back to the office.
* "Engagement" is the key to your website. If the consumer is not "engaged" they will leave and most likely never come back.
* What is "hip" is not necessarily "hot" for real estate. Don't fall for every online gimmick as it may not add any value to what you are doing.
* Russer has his doubts about the value that Facebook, Second Life (other social networks) will play in real estate. Reason? Consumers have more money than time. These sites are time intensive. Advice: choose your playing field carefully.
* Russer stated that the way to beat 98% of your competition (meaning REALTOR out-position 98% of other REALTORS) is to choose one specialty (new home buyers, elegant homes, land, ranches, investment property) and "own" it and claim it as your market. Build your image around this and other business will follow.
* Don't chase the consumers rather attract them. Don't shotgun out emails hoping to hit some consumers, rather target your audience and give them a "reason" to come to your site.
* The traditional sales (face to face) model is counter to dealing with the Internet Powered Consumer (IEC). IEC's are in control and they like it that way. IEC's want privacy. IEC's value saving time / want rapid service. IEC's eventually will get what they want. IEC's will not do business with you until they trust you completely (re: being responsive, asking them what they want and how they want to be serviced), you have the expertise that they are looking for and you have their best interests at heart.
* Do not confuse the internet with technology. If you can use a web browser and email proficiently, you have mastered the essential skills needed with technology.
* Russer challenged us to audit our strategic direction with online capabilities. In reviewing his list, I felt very confident that Steinborn GMAC is well positioned in terms of online access, lead generation and internal technological services. Our soon to be upgraded website will provide even more "engagement" for the consumer and empower them even more with the search / selection process. But with all things, we will need to stay abreast of new and innovative means to connect with our consumers.
Again, I will bring back some excellent handouts and articles from this session.
2. Dr. John Izzo - The Sales-Partner: The Engagement of a Generation
I really found this talk to be the best for me personally. Dr. Izzo focused on the importance of leadership during times of change and provided excellent examples of companies who bleed with "passion".
He gave many examples of excellent companies but one stood out:
1. Umpqua Bank: Izzo's friend is the CEO of this bank. When he came to the small bank it had 140 million in assets. Today, 12 years after his arrival, it has over 7 billion. Passion and attitude is what grew this company. To read more about this unique player in the banking industry, click here:
http://www.bai.org/bankingstrategies/2006-nov-dec/UmpquaSustains/
Izzo also provides us with an excellent and detailed journey into the psychology and makeup of Generation X and Y generations. His take away, in summary, is that even though we sometimes have difficulty understanding this generation, it is important as REALTORS, servicing this generation to "accept" their values. He reminded us of a famous quote as follows (paraphrased):
"The youth in our society do not respect authority......they are not hard workers......for this I am deeply concerned"
Guess who stated this? Socrates of ancient Greece stated this. This highlighted the fact that every generation looks at the upcoming generation differently and not as hard working or focused as our own generation. The message he provides us is that Generation X and Y have differing values....not all bad, just different.
We also received a handout addressing how to "connect" better with this Generation X and Y via our websites and other outreach techniques. I will bring this back too.
Tonight is our group dinner. I may try to take some video clips of "Murray Live from Vegas" and include in tomorrows blog!
