Welcome to the 2017 Coldwell Banker Leadership Summit E-book.  The Coldwell Banker home office and field staff was on the scene reporting from the event with their best takeaways and actionable items.  

This publication is filled with juicy content and images so if you missed a session or want to hear from other attendees, this is the place to be!  

#CBLS17

Electronic Notebook

 

The Coldwell Banker Leadership Summit is an event dedicated to developing managerial skill sets to better serve our agents and consumers as leading brokerages in each market place.

This year, Coldwell Banker 'takes Nashville'; with over 400 managers, owners and brokers attending to network and learn together from some of the top professionals in today's business landscape.

 

In 2017 our network is excited to hear from Charlie Young, CEO of Coldwell Banker, Mike Fischer, COO of Coldwell Banker and Sean Blankenship, CMO of Coldwell Banker about the future of Coldwell Banker Real Estate.  

 

Attendees will also be hearing from the Real Estate Experts at Realogy's Center Of Excellence, Our Top CB brokers and managers and of course, our home office and field staff presenters will be delivering MAJOR Value.

Some of our Special Guests include Josh Linkner &  Stefan Swanepoel! 

About the Leadership Summit

 

These Brokers are Asking The Experts! 

Day #1 Of The
Leadership Summit
Monday, March 27th 

What better place to discuss growth than Nashville; the fastest growing city in America!


9 new companies were represented at the summit.  They joined the brand in 2016 (Blackstone, Lifestyles, Canyonside, Yuma Foothills, Emporia, Real Estate Consultants, The Realty Group, ProGroup Realtors, Castle Real Estate) 


If you aren't growing, you're dying! 

General Session


Charlie Young


CEO

Coldwell Banker Real Estate

 1) Our network is second to none : amazingly, 45% of the Wall Street Journal top 100 are CB agents.

 

2) Our brand awareness and reputation are outstanding - our brand holds a premium position in the marketplace.

3) Our tech suite is better than any other national brand - CBx is the single most unique product in the real estate market and we have under-leveraged it, for it is a listing assasin!  Smart Home is widely misunderstood.  This platform should send a message that CB agents understand the world we live in and are equipped to deliver service into the next generation.  We need to incorporate this message into our value/recruiting application.  Dash allows the brand to manage their business more effectively, and Zap is a tool that allows us to build the CB future around important industry components such as the consumer experience and more productive agents. 

4) Coldwell Banker leads in every category that counts - no one sells more real estate than CB, and no one sells more luxury!

Our Strengths

Charlie Young's
Opening Talk

What Are Our Goals?

1) Sales volume leadership position. 

2) Premium price position.

3) Luxury leadership. 

4) Premium brand position.

 

 

Our near term objective: Coldwell Banker will be viewed as the preferrred home for sellers and buyers; along with forward-thinking and high-performing brokerages and agents. 

 

Our Mission: To demonstrate undeniable momentum that gets the industry talking about Coldwell Banker.  

Charlie Young's
Opening Talk

Operation Darling: our mission to get the industry talking about us through momentum. We will strive to be the disruptor.  We will accomplish this by focusing on hiring 25K agents and 10/8/20 by 2020. 

(Goal by the end of 2020)

10-8-20 philosophy:

10% sales volume market share 

8% unit market share 

20% average sales price premium  

When we succeed, our impact will be: $71.6 Billion sales
volume / $1.8 Billion in GCI.


Charlie Young's
Opening Talk

25,253 : The number of incremental agents we need to recruit to accomplish this goal at our current average production per agent.  That means 11 net agents per ofice over the next 4 years.

 

How we accomplish these goals 

Reasons to Believe: 

Product set

Brand

Network

Our valuable partnerships that drive business

 

 

"CBX Is A listing assassin! There is no other agent in your marketplalce that has anything like it!"

 

"The Zap platform represents the college technology platform that is missing in real estate today"

Charlie Young's
Opening Talk

2017 Advertising Rollout
'There's no place like home' 

1)  The most important aspect of our 2017 ads when consumers were asked was BRAND!

 

2)  We coordinate all social media and online content to align with our television ads - they are not just TV ads!

 

3)  We are focused on millenial and boomer audiences (experential's and bucket listers) which are the two most active audiences of home buyer and sellers in the world.

Sean Blankenship

CMO, Coldwell Banker Real Estate 

 

David Marine

Vice President Brand Engagement

2017 Advertising Rollout

Somebody To Love

2017 Advertising Rollout

Keith Everitt Says, DO IT! 

2017 Advertising Rollout

Coldwell Banker is a premium brand, and everything we do is to convey that to you or your customers; Iconic brands can be summarized by one word.  We define our Iconic brand Coldwell Banker = HOME

 

The Coldwell Bankers Likeability Score was higher than ANY ad that ran during the superbowl! 

 

"Somebody to Love" launched today and is very active; "Sign Drop" will start online in April; "Storytelling" starts May 15  *** Media Plan - focused on bi-modal audiences (experentials and bucket listers aka millenials and boomers); two most active home buyer and seller audiences.

*"Sign Drop" is a digital only campaign that we will run beginning in April. It will feature Coldwell Banker Success Stories and claims from quotables.

2017 Advertising Rollout

Broker Feedback From The Advertising Campaign

2017 Advertising Rollout

 

FIVE WAYS TO LOCALIZE OUR AD CAMPAIGN:

 

1) Make the ads your own! 25/5 spots available for all spots; customize with local cable buys (less expensive than you might think), True View is very cost effective (ads before YouTube videos - only pay when someone watches the advertisement about a $0.10 per view), social media is great place for these ads!

 

 2) Find out out how to host an adoption event during the national adoption weekend, Sept 9-10, on CB Exchange!

3) Get prepared - download CBx, purchase a Smart Home staging kit.

4) Knowledge is power - brush on CBx, Zap, Smart Home.

5) Leverage the content - use it to attract new talent and to reach out to your network.

 

Find Out More Here:

 

https://www.cbexchange.com/content/cb/en/content/brand-engagement/homes-for-dogs-project-continues-somebody-to-love.html

Panelists: 

Felicia Hengle, CB Hunter (NE Ohio)

Todd Conklin, CB Distinctive (CO & ID) 

Steven Cupolo, CB Premier Properties (St. Augustine, FL)

TOP THREE TAKEAWAYS:

 

1) Quality agents matter

 

2) Listen to the raving fans in your own companies, create a way for them to particpate in office leadership

 

3)  It is not all about bodies, you have to remain focused on value proposition and per person productivity

 

"The strength of our brand AND the strength of our company can get people to come on board, and then the support keeps them there." -Todd Conklin

Broker Panel: Approaching 
Growth From Any Angle  
Hosted By Ashley Dembowski,   
National Vice President Of Field Servicing

Broker Panel

  • Cupolo: I like the ONE CB concept, there are others that want to knock us off of the pedestal, if we don't start pulling together it is going to hurt us! Once you join Coldwell Banker there is no competition if we are doing it right!

  • Make sure you leverage the power of networking at events like this, there is so much knowledge sitting in this room and ready to share with you (from Todd Conklin).

  • Felicia Engle - net agent growth over 25% (11% producing and 10% productive); joined 18 months ago from Keller Williams, passionate about organic growth; she's taken a company that was stagnant and achieved 25% net agent growth; the market is up 7%.

  • "Walmart needs greeters." Steve Cupulo talking about agents not doing the job!

  • Steven Cupolo - 2016 net agent growth over 31% (21% producing and 23% productive); 16% increase in GCI; an all angles approach to growth including organic, mergers, roll ins; indicates his current focus is growing agent productivity.

Broker Panel

Do's and Don'ts: Provided by Todd Conklin

DO'S:

  • M&A's are a long term strategy, be committed! Don't be suprised if it happens quickly, be ready!
  • The Swanepol Trends reports says NOW is the time to capitalize on M&A's
  • Educate yourself on how, what, when and who you can help before you get started.  You only get one chance for a first impression
  • Know the candidate, you need to know your value proposition and how it will add value to the sellers business
  • Make it a winning situation

DON'T'S:

  • Dabble
  • Doubt yourself
  • Don't try to fix culture-you can only direct it
  • Don't practice on your prospects

Todd has developed an agent product; Built 4 Sale designed to aid brokerages and agents to buy and sell individual books of business.  You can email Todd.conklin@coldwellbanker.com for more information.

 

 

Broker Panel

Conklin:

Acquisitions are a long term strategy with a massive commitment! You have to be prepared, educate yourself and understand you only get one chance for the first impresssion.  Know the target so you can craft your value proposition for the offer.  You need to show that you can provide them a reasonable price as well as preserve their legacy to make it a winning situation (win-win).  Leverage the tools, but do not rely on them!


Cupolo:

Don't overlook or discredit the strength of the brand. Remember that once you have the brand you no longer have to give the farm away (you are driving the Mercedes now). Once you become Coldwell Banker, there is no competition if you're doing it right.

 

TOP THREE TAKEAWAYS:

 

1)  Use the 3/3/3 program for good agents that left your company (3 days, 3 weeks, 3 months - call to check on them)

At 3 months say, "Are you sure you are okay?"
When you call ask them, "Are they still treating you well?"

 

2)  Agents that are leaving the business simply plan to leave, they don't have a succession plan for their business

 

3) There is pressure for first time or move up buyers due to low inventory and more stringent credit requirements 

 

Top thee ideas to be more successful than you are today:

 

1) Agent planning and coaching


2) Agent succession planning


3) Agent retention 

Current Perspective on the Real Estate Industry

Alex Perriello

CEO, Realogy Franchise Group

Current Perspective on the Real Estate Industry

Here is an estimation of how the market should shape up in 2017: Sides up 2-3%, Price up 4-5%, Total GCI up about 6-8%.

 

There is no such thing as a national market; there are tens of thousands of individual markets, and you have to know yours.

 

First time buyer and move-up buyers are restricted by a lack of inventory and credit availability.

 

There is not enough new home construction and it is very difficult to get a loan.

 

Average FICO score to get a loan is 40 points higher than 10 years ago and it is more difficult.

 

Luxury or high end market has the post election jitters.

 

Brexit created uncertainty, a decline in foreign investment, and there is some reluctance or lack of commitment/urgency in the high end of the market.

 

*All in all the trends, however, are moving in the right direction -Alex Perriello

 

Karen Levy of CB Camelot 

Top #3 Takeaways 

Day #2 of 2017
Leadership Summit

 

Tuesday, March 28th

Top Takeaways:

 

1. Need to Recruit to hit our GCI goals.

 

2. Need to get better at building and recruiting teams.

 

3. Be the FORCE in the industry! 

 

4.  Teams represent 10% of CB sides and 11% of CB GCI already, they must be a component of our growth!

Network Goals:


Increase price by 18%

Increase agents by 30%

Increase sides by 35%

Need to grow GCI by 60%

 

The Math & Physics of Finding Momentum

Mike Fischer

COO, Coldwell Banker Real Estate

Highest growth companies by agent count were usually highest in the other areas too. Many of these companies focus on a strong culture.

 

We have to get better at growing and recruiting teams. 

 

Of the 74,000 single agents; 21,199 are doing zero units, and 27,498 are doing zero to one unit.  This means 37% of our agents that are producing 0-1 units, and we need to make them more productive.

Finding Momentum

This event is about tapping into these success stories and networking with those leaders. They have the same brand, same tools, same systems and are seeing remarkable growth!

 

Newton's second law: Force = rate of change of momentum; we need to change our momentum to become the Darling of the Industry; it's a huge target, but WE can do it!

 

ONE COLDWELL BANKER 

"Are you ready to get obsessed with your own growth trajectory?"

 

 

"You must know how to attract millenials to your company."

“You can’t look in a new direction by looking harder in an old direction.”

The Road to Reinvention

Josh Linkner, New York Times Best Selling Author

The Road to Reinvention

5 Obsessions of Innovators

 

Get Curious: why, what if, why not?

Challenge conventional wisdom.  Example - Using everyday devices to create energy.  Soccer balls, jump ropes, they inspire curiosity in action.  Hospitals focus on wellness not on sickness.

"Crave What’s Next:"  Let go of what works in favor of the possibilities.  Version 5.0 puts 4.0 out of business – planned obsolescence.  Think of borrowing an idea.  What is being done outside of our field?

Defy Tradition: Look at each role and consider the opposite.  What is the opposite of conventional wisdom?  Too often we think price is what it’s all about. 

Get Scrappy:  The true DNA of innovation – tenacity, grit …reduce your resources.  This will not allow you to rely on prior methods – your creativity will soar.  TNT viral approach to drama, creativity to an every day problem.

Adapt Fast:  Response time can be more important than the potency of the idea.  

The Road to Reinvention

The Barnum & Baily Circus enjoyed more than 100 years of success like CB, but they failed to reinvent and as a result have gone out of business.  We need to be sure we are the source of disruption instead of having it thrust upon us. You cannot rely on saying "nobody wants to go to the circus" because Cirque de Solei has reinvented the circus and is thriving. We have a fundamental choice of doing things that we have always done or we can become the Cirque de Solei and drive the momentum to earning 10-8-20.

 

ONE COLDWELL BANKER 

 

 

X

The Road to Reinvention

The DMV has the worst company reputation.  In North Carolina they reinvented the DMV by serving fresh juices and coffee and they have a play area to keep kids entertained.  They allow you to text in to hold a place in line too! This resulted in privatizing the DMV, and a guy decided to reinvent the model; despite being told the market was fixed and it was not useful to implement these changes.  Regardless of what people told him, he decided to press forward  - he is doing double the revenue of any other DMV in the state as a result of changing the consumer experience!

The Road to Reinvention

It takes courage to let go of what is, for what it could be.

 

The more curious you are, the more creative you become.

 

You should pause and evaluate by asking 'what if' and 'why not'.

 

What would happen if you explored the opposite?

 

Considering and approaching the oppositional approach can uncover a lot of new possibilities.

 

Don't let small things get in your way!

 

Reacting fast can turn a tragedy into a triumph.

 

Don't second guess your gut responses, break away from what has been comfortable in the past.

Greg Says, Josh Linker Was Awesome! 

BREAKOUT SESSIONS 

Top Three Takeaways:

1. Having a winning culture is key.

2. Differentiate Or die.

3. $7,000.00 cup of coffee – know your script and practice!

Whoever Tells The Best Story Wins The Recruiting Race

Shari Pesa

Whoever Tells The Best Story...

Of the 183 COE engagements 90 wanted help with growth.  Of those companies 97% could not “tell the story” of their companies value proposition.

 

Are we creating a “Life Changing Career Opportunity” Mayo Clinic Video: https://youtu.be/lqpTxZ_jZoo

 

Identify your company's uniqueness.  A statement of precisely what differentiates your company from the competition. Vision, Mission, Focus, Target. 

 

Three intersecting circles for Vision, Mission and Value.

 

Recruiting millennial’s – Shari ran a video by Simon Sinek on what millennials want: https://youtu.be/hER0Qp6QJNU

Whoever Tells The Best Story...

2015 National Association of REALTORS statistics:

 

The typical full time producing agent had 11 transactions.

 

70% of agents work on a commission split.

 

55% are with an unafilliated company.

 

 

4 C’s of differentiation

  1. Clarity - validate your mission.
  2. Connectivity - get the emotional buy in.
  3. Company Experience -  what is it?
  4. Communicate Your Story - practice it.

Whoever Tells The Best Story...

Interview Questions – Memorize your “flow” through the areas below and what questions will you ask in each area:

History

Coaching

Association

Lead Generation

Office

Goals

TMS – Transaction Management Service

Marketing

Cost – talk cost versus split

Pain – If you were to open an office tomorrow what would you do differently

When are you coming over to pick out your office?

 

I have a transition checklist – I am going to make this painless.

 

Poll the office – pull people into the office and ask them who is the person you have had a great transaction with in the last quarter. Then call that person and tell them that 60% of the agents in my office voted you the best person to have a transaction with!

 

Strategic Growth: Attacking Target Markets with Mergers
& Acquisitions Panel

Hosted By Doug Banzhof

ZAP SUCCESS STORY FROM CB MOUNTAIN PROPERTIES : Last year generated 37 leads from our $50K website (that they love and is very nice)

 

They adopted Zap - 456 leads via the ZapLeads program and utilizing the Zap site this year!  What a difference!

Panelists: 

Pam Smith, CB Seaside Realty 

Ron Sweeney, CB Heritage 

Dennis Saffell, CB Mountain Properties

Strategic Growth: Attacking Target Markets with Mergers & Acquisitions Panel

  • Culture matters most.
  • Do not make radical changes the first 6 months to minimize breakage.
  • Always use the term "merger" and not the term                 " acquisition".
  • Give former owner a leadership position for continuity when it makes sense (2 years).
  • Send the potential company to NJ for the "CB Experience."
  • Use "ZAP leads" to sell an unbranded company on the benefit of merging.
  • Use ZAP Leads as a response to "what will you do for me."
  • Be prepared to respond to key differentiators; Utilize your BA and franchise sales person for support. Think package and not just a "multiple."
  • You are in the "emotional transportation business."

Strategic Growth: Attacking Target Markets with Mergers & Acquisitions Panel

  • Make sure to partner with your franchise salesperson.
  • Do your due dilligence.
  • Prospect like you are a top producer-make phone calls, drip campaigns, don't keep it a secret that you are a buyer.
  • Be transparent about the role of the owner after the purchase.
  • A REAL acquisition is when a seller exits the business and the community.  Anything else should be considered a merger, start your conversations this way.
  • Earn-outs: $300,ooo purchase price: 1/2 up front, the other 1/2 is earned over three years based on profitability and GCI.
  • Earn out is good only if the person wants to grow and is invested in the overall success of the company after the merger.
  • Tell the agents about how long the owner is staying on board for, which allows some 'skin in the game.'
  • Get the candidate to Madison headquarters for a VP!
  • Ask the candidate, "Your duty is to your agents and brokers to become more successful.  In talking about this merger, do you think your sales force is better off with everything we can offer them?"

Moderators: Steve Carr, Kelly Guerrero, Bob Christian

Overcoming Low Inventory Challenges Breakout

This isn't a place we haven't been before!

 

Best practice: Hour of power group prospecting time.

 

Review past customer list from DASH.  Use the information you already have to drive activity.

 

One broker said that because no one else is using print advertising, they are-because it differentiates his company.

 

Utilize CBU-8 weeks to listing mastery.

 

Have a connectivity contest led by two top agents  Points are achieved for activites and losing team has to do something for the winning team (wash cars, cook breakfast).

Overcoming Low Inventory 

Over 75 Brokers/Managers Brainstorming Together 

Overcoming Low Inventory 

Look at DASH expired list from 5-7 years ago- these people might want to sell now.

 

Help your agents know the CB tools to get them more comfortable with utilizing them.

 

Look at CMA Toolkit.

 

Leverage RELO to offer deals locally and offer rebates-encourage referrals.

 

Build relationships with builders and work toward exclusive relationships.

 

Target top listing agents.

 

Pair new agents with mature agents and co-work their book of business.

 

Encougage agent communication of exclusive listings through closed Facebook groups.

 

Reward listing agents with marketing dollars.

 

 

Overcoming Low Inventory 

Institute awards for biggest listing, most listings and most appointments.

 

Pay realtor.com showcase fees for most productive agents.

 

Put 3D virtual tours on thumbdrives for giveaways.

 

Set up agents ipads with CBX, company websites, YouTube. 

 

Pay for agents listing photos; promote staging.

 

Help agents create pre-listing packages that promote CB marketing.

 

Target renters, landlords, retirees, read announcements in newspapers, bridal shows, tax stressed homes, obituarys, VRBO/airbnb, look for life changing events on Facebook.

 

Watch FSBO's on the market for more than 60 days.

 

Help agents be more prepared for listing presentations and have solid commission objection handling techniques.

 

Host a listing bootcamp!

Shaping Success: Manager Strategies to Mold A More Productive Salesforce

Peer to peer accountability teams for production and retention.


Create a momentum board in the office with a benchmark of 40 units a year (that is the growth goal).
Every agent should be in some form of coaching; self paid with Buffini or with the Manager.  Every other week Manager uses Buffini "pop byes" for recruiting. Ask everyone you know, " who will be the next to make a move?"


Model good behavior to your agents. Do what you ask your agents to do.


Managers want agents who are connected and can run a business.

 

 

Chuck Cusson, NRT Vice President of Education Strategy and Delivery

Shaping Success: Manager Strategies to Mold A More Productive Salesforce

 

Multiple interviews and potential agents must complete an assessment to be considered hired to your culture... are they loyal?


Use your agent's referrals to recruit quality people.  Target from a parallel business. If they can run even a small business, they will have structure and discipline in real estate within 2 years.


Agents should be closing 18-24 units to stay onboard.


Use "Broker Metrics" to produce reports. Give non performing agents the permission to leave.


Manager pays all "Buffini" conference expenses for agents, splits the cost of "Buffini" coaching with the agent.

 

Coldwell Banker has a business planning platform that allows you to budget/forecast by units OR profit!

 

The Financial Benchmarking Study can help you in understanding how your operation compares with similar companies and similar markets.

 

The CB Business Planning Platform will provide you with a transaction seasonality by month.

 

The Center of Excellence provides expert support in very specific areas of concentration; intended to provide high level support to affiliates; not in business to be a charity, they want to be profitable.

 

Harvard MBA Graduating Class when asked if they had clear written goals for their future and plans to accomplish them: 3% yes, 13% not in writing, 84% no goals at all - after 10 years, the 13% were making twice as much as the 84% and the 3% were making on average 10x the amount.

 

 

 

Proft By Design For Savvy Brokers

Tara Michael, RFG VP of Business Solutions

Proft By Design For Savvy Brokers

Three financial statements you should review monthly - P&L (income statement), Balance Sheet, Cash Flow Statement.

 

The COE can assist in reviewing the numbers and ratios.

 

You have the ability to login to CB Exchange and create a business plan and budget.

 

The CB Business Planning Platform allows you to budget/forecast by units or profit (your choice); the system allows you to input number of single career or dual career associates, and also ancillary business.

 

7 Operating Expenses (per GAAP) - advertising, sales promotion, wages/salaries, occupancy, general administration, office supplies and equipment; the business planning platform by Coldwell Banker is a fast and efficient method to plan for success of a company.

 

 

 

Maximize your fixed costs to the best use possible.
The offce layout is a showroom style, which is inviting to clients.


Conference room looks like an office and the agents must reserve it to use it.  Agents do not have a designated office for themselves, but they do have works space areas and can reserve a "conference room" for meetings or prospecting activities.


There is a TV in the front windows of all of the offces.  They run videos featuring their listings and their offces are located in high traffc areas.


Street traffic can view the agent on duty at the desk through the main window.



 

Maximize the Value of Your Footprint 

Matt Case, VP Of Coldwell Banker Learning & Terri King, CB KING

Maximize the Value of Your Footprint 

There are 42 agents working out of 1800 sq feet.


There are 60 Agents working out of 2500 sq feet.


Host more company events to keep the cohesion within the organization.


Agents answer the phone, there is no receptionist.
They have a retail store / showroom that has no agents assigned to it.  


What to do and look for in a retail location:  we sell brand frst, then location, must do events.


They have a tool known as window agent, which is a touch screen with all MLS information available to the public to access information on the front window 24/7 they have to clean the fingerprints off of it every morning! 


They have a large screen TV in one of their offices which they run sports and populat events that are of interest to the local community.  They find people coming into their location to watch a basketball game, etc.


They use chromecast so any device can connect to their big screen TV's.

Maximize the Value ofYour Footprint

Listen In On How Terri King utilizes LOCATION! 

Maximize the Value of Your Footprint

Deron's company hated it at first,
and he ran 2 platforms.

 

Initially, they lost market share.

 

Now, after the relaunch they buy all the ZAP leads they can.

 

The company is gaining the market share they lost.

 

Zap brought energy to his team.

Zap success doesn't happen overnight!

 

 

Real World Results With Zap: A Broker Story

Deron Tucker, CB Rick Canup REALTORS(R)

Broker Panel:

Inspiring Productive Agent Growth

Top Takeaways:

Carve out time in your office meetings to discuss competitor intel.  This keeps the line of communication open and closes off the rumors.

 

Leverage the competitive nature of the agents to drive energy.

 

Support the agent with the proper environment.

 

Identify the culture, recruit to the culture, maintain (defend) the culture - VALUE PROPOSITION matters!

 

Panelists:

Laura Seroogy
CB The Real Estate Group

Kelsey Fulton
CB Schneidmiller

Lisa Geddie
CB Advantage

Tom Wolwode
CB Platinum Partners

Broker Panel:

Inspiring Productive Agent Growth

You have to participate in the culture of the office, you can't say your office is passionate about something if you are not.

 

You send message to your team by who you hire and who you "de-hire".

 

Moved to technology training on Fridays, similar to office hours on Friday mornings (about 90 minutes); now agents help other agents with how to leverage the CB tools and systems, made agents more self sufficient.

 

Implement cross coaching; technology taught by millenials and nuts and bolts taught by experienced.

 

Operate a school as a separate entity. People in community do not recognize the CB owns the school, they go in and recruit at the school by offering lunch talks to the students. They present the mentor program, recruit only brand new agents.  The philosophy is that recruiting from other companies is not ethically sound so preference is to bring them on new.

Broker Panel:

Inspiring Productive Agent Growth

Have a training navigator that customizes a program for each agent that comes on board. They have specific minimum expectations of production, office participation, meeting attendance, training requirements, and must wear name badge; set high expectations for training and the company sees benefits, most associates have something on the books within 60 days.

 

Now What Program ... which includes a module program, Launch curriculum is leveraged to drive early success, now training online to maximize efficiencies.

 

Keep agents productive, recognize lower listing inventory, start a contest with a balloon popping (with prize in balloon) where those with listings get to pop a balloon at the team meeting; use contests to drive energy, some type of competition going on all the time.

Allen Pozzi, CB D'Ann Harper, REALTORS(R) 

I Recruited X People Using CBx:

A Broker Story

Top Three Takeaways:

1. Use CBx to increase agent hit ratios in listing presentation.

2. Use CBx in recruiting sessions.

3. CBx is a game changer.

 

The best time to plant a tree is 20 years ago or today. You can toture data until it says anything you want!

 

Increase agent GCI – Will CBx increase your listing hit ratio? Their top agent went from 88% to 100%.

 

Recruiting – CBx – Demo’s in recruiting presentation. You, as a manager, need to know  how to use the tool.

 

 

 

 

Beat 'em At Their Own Game :  Exploiting competitor intel

Top Takeaways:

Your own agents are a great resource.  Ask them for what the competition is sending them.

 

Build a recruiting machine:  create a system that never stops working.

 

Weave the intel you have on your competition into your value proposition.  

 

Make sure competitor intel is shared throughout the company.

 

Carve out time in your office meetings to discuss competitor intel.  This keeps the line of communication open and closes off the rumors.

Chuck Cusson, NRT VP Education Strategy & Delivery

Rock Your Recruiting Plan

Dawn Covahey, RFG VP of Business Solutions

Rock Your Recruiting Plan

The "sensing function" of the value platform.  Whether you use mission, vision, or a sentence in your proposition you need to refine it until you can articulate it in a single, credible sentence.  

 

You should dovetail the brand song with your company song into your own record label. 

 

The goal of a value platform is sustainability. 

 

YOUR brand is a large part of your competitive edge.

 

Peter Drucker says "culture eats strategy for breakfast."  You can have the best strategy in the world but without culture it will fail. 

 

Identify the generational and diverse composition of your associate and your customer base, and what will it be in 2, 5, or 10 years.  This creates succession demographics.  

 

Your office is attractive, but is it attractable?

 

Rock Your Recruiting Plan

Go Green! (contact NAR Green Resource Council)

 

Consider using terradatum or broker metrics to determine an up or down trend of associates in your area to know who to target.

 

How are you promoting a career in real estate? Blogs, career sites, video (YouTube), PR, publications, webinars, awards online, newsletters, forums, tertimonials, SEO, community referral, word of mouth...

 

Best Practices: Host an event, online virtual career night, increase exposure, social media interaction, online sites, career description.

 

There are many more avenues to recruit today with online opportunities than in years past!

 

Hosting an online virtual recruiting meeting is a unique option.

Profting With Teams

Ryan Fulcer, CB The Real Estate Group, Inc. 

You have to overcome a scarcity mindset.

 

You have to look at the company dollar generated by the team versus the percentage you are paying to the team.

 

 

Teams need to be systems based.  

 

 

What is the one most important thing for you in the creation/development/growth of this team? Question to ask an agent when they are considering building a team. 

 

 

Your vibe attracts your tribe.

Profting With Teams

Teams allows us to find better ways not to work so hard and focus more on doing what we love within the business. Be a disruptor!

 

Teams have disrupted our industry. Ryan has been a student of looking at different team models. The position in the team has to match your strengths.

 

Important roles : inside sales agent – transaction coordinator – client concierge- web and media coordinator – operations manager- photographer.

 

If a team gets too big and leaves it will destroy my company.

 

You need to look at the company dollar, not the percentage you have to pay.

#1 -Set up team policies company wide.

#2 - Set clear expectations.

#3 - Make sure you truly understand the team leader’s goals.

#4 -Do not manage the team leader – coach.

 

Ask better questions to get better answers!!

Profting With Teams

Laura's company did smart home training as a group.

 

Promotion to second home market for security purposes.

 

Mark Hunt- recommended smart home products for his lake home sellers, he recommended the security cameras as well as sensors for their basements which tend to have failing sump pumps. This gave the sellers comfort and confidence that their agent was looking out for their best interest. 

 

Two agents in the company, referred to as the selling sisters guided their seller towards the smart home staging kit to compete in their Green Bay  market. It not only differentiated them from the other similar style Victorian homes but led them to a faster successful sale but they loved the products so much they bought it for themselves. 

 

 

How Smart Home Sets
My Brokerage Apart

Laura Seerogy, CB The Real Estate Group

How Smart Home Sets
My Brokerage Apart

 

Agents have used their certification to showcase the products at home shows and have made videos for their listings as well as used Facebook live to promote their use. 

 

Our new offices are getting set up with smart home products so our agents can familiarize themselves and get the hands on experience as they show more and more homes that are becoming Smart Homes. 

 

At charity events we had the smart home kit as the grand prize. Tied our local support in the community to promote what our agents are certified in. 

 

Quote from our newest rock star agent Matt Tranel: I feel smart home gives me a distinct advantage against other agents. When I talk to potential sellers about the younger generation that is starting to purchase and what they are looking for, I feel even if they choose not to install smart home kit I come across as a more knowledgeable agent. I know the market, and buyers and have been certified. So as a whole it sets me apart.

Top Takeaways: The Nnw Coldwellbanker.com will be:

 

1. Full IDX Capability.

2. Unite the Brand with consistency.

3. Huge SEO benefit.

 

 

Superman, John Lennon and Michael Jordan; they are all legends but all performed better as part of a team!

 

 

Any upgrade to the national site will filter down to the local ZAP sites; IE: search optimizations, changes in Google algorithms, blogs.  The creation of unique online content unites the network.

 

 

Unified consumer experience and mobile friendly for all custom apps available to local offices. Other brands have ZAP but we are the only brand promoting through ads, enhancements, etc.

 

 

 

New Digital Frontier

For Coldwell Banker 

David Marine, VP Brand Engagement

A 'First Timers' Review! 

One Of Our Newest Affiliates, Paul Schieldt-Broker/Owner of The Realty Group in Wisconsin Shares His Experience

 

We Heard You Like the Swag at the Event...

Contact Patrice If You Like What you see!

The bows, chargers, water bottles and pens were ordered from:

Patrice Shapiro

PROFORMA ALBRECHT & CO.

patrices@optonline.net

t 908-647-3715

 

Day #3 Of The
Leadership Summit

Wednesday, March 29th

This is not simply a logo or trademark, it is a comprehensive program to establish CB as the brand for all luxury real estate.

 

Our luxury program was born in 1933.


CB has 10% unaided consumer awareness in Luxury.

 

New Global Website – Connect is all about the agent.  Showcase is all about the listing; Global syndication is the largest in play of any luxury program. The site has a modern design featuring huge, powerful, high-resolution photos with a powerful back-end networking and marketing system.

 

Homes and Estates Magazine – An elite proprietary publication that pairs Unique Homes and the Wall Street Journal.

 

 

 

 

Unveiling a New Expression of Luxury

Craig Hogan, VP Of Luxury

Unveiling a New Expression of Luxury

Coldwell Banker Global Luxury Blog: www.cbgloballuxury.com 

 

Capabilities brochure shipped to every office and available through Xpressdocs.

 

Ad templates and business cards available.

 

Customizable luxury listing presentation. 

 

This program is our play to make sure that the agent and brand have the right tools to support their efforts to attract affluent consumers.

Unveiling a New Expression of Luxury

Global Marketing Campaign lives in CB Exchange. CB Global Luxury blog to replace Previews Inside Out. Home of the Week Video - up to 600k views of some properties in a 5 day period. Social Media prowess, 800% increase over last year, an industry leader with Klout.

 

1.6 million hits a month on Pinterest!

Coldwell Banker + Global + Luxury = Powerful and Simple.

 

The new certification course will be membership club concept with enforced standards and qualification requirements, production qualification renewal will be required every 24 months, video training series (scheduled for Q2 2017 bi-monthly online webinar based educational presentations conducted by American Society of Interior Designers pertaining to all sectors of luxury real estate).

 

Global Referral Opportunities - For the first time all CB Global Luxury Property Specialists will have access to a platform that connects them across the globe.

 

Unveiling a New Expression of Luxury

Access to the World's Most Affluent Clientele - discover a source of data that can help you identify the right affluent clientele for your luxury listings and real estate prospecting activities (Wealth Engine access to top 1-3% of the market, direct access in real time to the largest database of the affluent in the world, lists can be as small as you want or large as you need, depending on your criteria).

 

Global Maketing Brochure - enables extensive geo-targeting to help you deliver sophisticated upscale impressions via an array of affordable media vehicles (global, locale, hyper-local, and digital).

 

Unrivaled Focus on Luxury Content - luxury blog dedicated to the art of fine living (30 pieces of content each month, permanent residence of Home of the Week, distributed monthly to over 40,000 affluent influencers, source for all luxury market reports).

 

Amber Shares Her Excitement About Bringing Home New Ideas 

Segregate high end listings from lesser priced training with the global luxury package.

 

Concierge in each state will create the luxury package and 15 other items for a fee.

 

Establish luxury social media groups with other luxury agents.

 

Schmidt provides managed service through their concierge service. Luxury newsletter sent to all agents monthly by Schmidt.

 

Create the attitude of WE ARE COLDWELL BANKER LUXURY – NO PLACE TO BE IF YOU WANT TO BE AVERAGE.

 

Selling Luxury starts in your head.

 

 

Craig Hogan, VP Of Luxury, Nancy Corey-CB Residential, Jeff Greenway-CB Schmidt

Luxury Lessons
For Any Market

Luxury Lessons For Any Market

You need to separate the luxury listings from your other listings in your company.

 

Provide concierge services to your agents to market their high end listings.

 

Concierge program – offer different levels of marketing: Silver, Gold, Platinum.

 

Start at the top to embrace luxury.

 

For recruiting - the place to be for excellence, doing things right and doing the right thing.  

 

 

BREAKOUT SESSIONS

In their infrastructure they do not push quotas, quotas cause you to hire the wrong people.

Managers meeting replaced by leadership team meeting, they meets weekly to discuss wins, which pressures the wanagers to work hard to report their WIN, discuss culture, choosing their "words."

 

Fill out paperwork prior to agents finishing school, get them mentally committed to you.

 

Have a Dedicated recruiting website, produces most of their hires.

 

Engage local YPN to meet agents and develop relationships CB Heritage Recruiter, her business card says Talent Scout (Shannon).

 

 If an agent wants to transition from part time to full time, have them sign a letter of intent.

 

Recruiting Tactics that Get Results

Sam Debord, CB Danforth
Doug Collins, CB Collins-Murray
Shannon Landers, Heritage REALTORS(R)

Recruiting Tactics that Get Results

Agents attend a company orientation, then 8 weeks of training. Extensive on boarding, new hire kit with business cards, and sign riders.

 

Internal FB group and networking opportunities.

 

Uses Alignmark for leads and has a dedicated recruiting site Uses a CRM to track all of their leads from start to finish, they get 400-500 career leads a year.

 

Real Data Strategies  - used to track and follow agent production, find their "sweet spots."

 

Let the numbers tell the story with a recruit.  Talk only about your story, never refer to what a competitor has.

 

Three team compensation structures.

 

 

 

Guiding Decisions

Team or Assistant? 

Chuck Cusson, NRT VP Of Education Strategy and Delivery

Top Takeaways:

Be prepared to be able to coach an agent to determine if they should have a team and if they do, you are able to help them grow their team.

 

Do not “team with yourself” – building an effective team requires complementary skills and strengths.

 

Two distinct models: rain maker and partnership.

 

Someone considering a team, ask  - “Are you prepared to run and grow a business?”

 

Get a boiler plate team agreement.

 

Build a talk track for agents that think they want to build a team. It is important that you are prepared to have a coaching conversation on this subject.

Guiding Decisions

Team or Assistant? 

Build a job description. Outline what the expectations are and question if it is sustainable.

 

When an agent has too many leads to be able to deal with is the point they may be ready for a team.

 

Do they realize that they are taking on a management level job.

 

Leader - buyer agent – selling agent – lead manager – personal assistant.

 

Cannot recruit from within the office/company – Make this part of the independent contractor agreement. 

 

Specific Tasks – develop the job repsonsiblities: lead management, time management, admin support, communications, prospecting, budgets and compensation, outline pitfalls to avoid.

 

There are steps to building a team, it doesn't happen overnight.

 

 

Guiding Decisions

Team or Assistant? 

What do you say to an agent who walks into your office and says they want to start a team? Say, "I’m glad you are looking at ways to expand your business…lets set up a time to talk."

Questions to review with the agent that wants to start a team:

-What brought you to this question regarding teams?

Why do they feel the time is right?  Find out what is occurring in your agent’s business today that has led them to believe it may be the time to start a team or hire an assistant

What do you expect team members to do for you?   Manage leads, help with marketing listings, handle buyer clients, administrative tasks, show homes, working open houses , perform licensed or unlicensed activities, improve client services?

 

This is a very important question because it will help ensure a team is the right move and that it remains sustainable:What team structure are you considering? 
Rain maker/team leader providing business opportunities to other team members or partnership or team members working together to share responsibilities and the structure may still include an assistant or someone in the downline

Next question…Do you understand you will become a manager?

 

 

Guiding Decisions

Team or Assistant? 

Deeper dive into specific tasks; What and how are leads going to be managed, distributed and followed up on?

How do you manage a schedule and how would team members interact with your schedule?

Listing management - How do you see your team managing listings?

Admin support – What tools and systems do you use and would you or a team admin handle CRM/MLS transaction management /contract forms…who will handle these responsibilities.

Communications – Will you or a team member manage your e-mail and phone conversations?

Marketing – E-marketing websites – Would you or a member of your team manage your marketing initiatives?  Will you or a member of your team manage your prospecting efforts?  What types of prospecting will they handle…and do you have plans on how to compensate them when they bring in a deal?

 

Who will manage budgets and spending, how much do you plan to budget for the support of the team?  How do you envision commissions collected and team members to be paid?  HOW WILL YOU PAY THEM Flat fee? Hourly? Based on project or task, % of volume of business?  Bonus generated?

Chris Ong, SEM Manager of ZapLabs

[‎

Lead Mastery With Zap 

The intent of Zap leads is to drive consumers to CB sites and away from Realtor or Zillow (where you have to pay to buy your own information back).

 

The best results are derived when you use both SEO and SEM to leverage the brand in your market.

 

Zap leads program are driven to words lower in the "funnel" where consumers are closer to transacting business - not the first broad term that they use when first starting their search.

 

If agents are looking at the short term and don't incubate after 3 months, they are giving up on 75% of the potential income - Zap allows them to manage the leads and capture that business.

 

Consider using fewer agents skilled in handling online leads (instead of a big pool of agents) to handle the leads generated from Zap leads efforts.

 

Leverage SEM along with current SEO efforts.

Lead Mastery With Zap 

95% of ALL home buyers start their search online, and they do not start with Zillow, they start with Google.

 

SEM pays to elevate your placement in search enging results; the results show up at the top as paid placement through this program; when you participate in the Zap leads program the links will drive them to the most appropriate page that shows actual property listings in your market that promotes you and your property; this is different from Zillow/Realtor which land you on a page where you have to re-input info to start your search; leads are 3x less expensive using this strategy.

 

SEO boosts placement on search results by optimizing your website, check out the Zap playbook.

 

Zap leads are ad marketing on Google, Yahoo and Bing.  They target engaged home buyers and sellers.

 

Zap has industry leading conversion rates by making leads more affordable and driving consumers directly to listing pages and/or agent pages.  It is integrated with Google technology allowing Zap labs to do more for you in terms of lead generation.

Leads convert slowly over time.  If agents don't incubate a lead for more than 3 months, they are giving up on over 75% of possible opportunities.  

 

 

 

 

Lead Mastery With Zap 

Zap is not a website, it is a full platform.

 

Check out the proscore agent report which will tell you the agents that are performing the tasks that drive productivity.  

 

Zap has the competitive advantage with 16 years of history of consumer behavior along with access to Google bets and latest tactics and tools.  

 

Invest in zap leads!  Commit to three months and CB will match two months of your spend for that three month period ($500 minimum, $2,000 maximum).  So if you commite $6,000 for three months, CB will pitch in an additional $4,000 for SEM efforts in this program!  

 

 

 

 

The Coldwell Banker Luxury Experience

Craig Hogan, VP Of Luxury

The Coldwell Banker Luxury Experience

A Quick Peek at the new site

The enthusiasm about the new image of luxury is here! 

Industry Intelligence  To
Amplify Your Growth Strategy For
2017 & Beyond

Stefan Swanepoel

In the next three years we will see a significant change with an industry wide trend where many boomer aged CEOs step down.

 

CB is leading the way in data integration, and that is wonderful.  The competitors will likley try to follow and create their own … "or at least claim to have done so."

 

Teams are the biggest trend in the industry - take the good and manage the bad.

 

Evalutate the trends and decide where and how to participate with them - or not to!

 

 

Industry Intelligence  To
Amplify Your Growth Strategy 

The 8 Hottest Trends

#8 Brokerage platform battle - Providing seamless and effective services.

#7 Agony of technology adoption - choosing the best products and getting agents to adopt it. No one size fits all, it is a unique and individual industry. Only use systems with  at least an 80% adoption. Best to use a 12 month roll out.

#6 Retiring leadership wave -Boomer aged CEO's stepping down, need a smart leadership succession plan (Blueprint).

#5 Upstream report card - Distribution system for data, funded by NAR.

#4 Fighting over data integration - Single entry to MLS, syndication control, management of in house listing data, integration capabilities for third parties.

#3 Agent flat fee on the rise - This model is poised for exceptional growth over the next few years. Watch them.

#2 MLS Consolidation - Mergers are extremely challenging.

#1  Explosive growth of teams - Reshaping the industry.

 

 

Industry Intelligence  To
Amplify Your Growth Strategy 

The real estate winners of the future might be those with the most effiicient, seamless and powerful platforms.

 

Companies are taking big steps to building all in one platforms to create efficiencies and open new possibilities while growing production and making agents/consumers/brokers lives easier.

 

Look to hire a leader with experience and credibility.  The company that has the most talent will be running at the fastest pace.  Look at the rising stars in WCR & YPN to replace your current people.

 

The MLS has no motivation to change.  If you want to change that, you need to get involved.  There are five players trying to make a claim in this sapce: Corelogic, Zillow, RPR, Black Knight Financial Services and Instanet Solutions.

 

Industry Intelligence  To
Amplify Your Growth Strategy 

 

The technology & consumer revolution has allowed for more entry and the fastest growing companies in this space include brokerages that claim they are full service and half the price.  Examples are: Home Smart, Allison James, RealtyOne Group, United Real Estate, Fathom Realty, and Right of Home.  

 

Offer more robust agent training.

 

Popular new brokerage models are virtual, discount, auction, flat fee, and homeowner direct.

 

Teams are not new. They used to be siblings that knew each other or very small groups of friends, but they are being driven by a new generation of entrepreneurial minded young agents budding from being customers first.  

Charlie Young's Closing Comments

Commit to each other!

 

Lead in your local market.

 

Everyday think,

"What am I doing differently to change my growth projection."

 

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Thank you to everyone that joined us in Nashville.  See you in October for Genblue in Las Vegas!