RISMedia's Real Estate Magazine

MAY 2016

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/668992

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Page 26 of 118

22 May 2016 RISMedia's REAL ESTATE News and information for and about RISMedia's Real Estate Information Network® (RREIN) {RREIN Reporter} Smart Strategies that Make a Difference by Paige Tepping Joseph Rand Managing Partner Better Homes and Gardens Rand Realty www.randrealty.com Paige Tepping: What are your best strategies for working with millennials, in terms of recruiting and as clients? Joseph Rand: I think that the differences between millennials and other generations are often over- hyped. Obviously, you need to be more tech-savvy with younger agents and clients, but that's always been the case—30 years ago, baby boomers demanded that we use those newfangled fax machines. With regard to clients, I think that millennials respond to funda- mentals the same way everyone else does. Agents need to know their inventory, be able to explain the buying process, communicate openly and frequently, manage a transaction—all that good stuff. And with regard to agents, I do think that brokers need to be a little more sensitive to the fact that millennials want a more "customizable" career path that responds to their needs, rather than the cookie-cutter approach that many brokers have traditionally taken. But in the end, millennial agents want what every agent wants: good training and coaching, solid resources and tools, uplifting branding, and a fair split. PT: What issues are you watching closely? JR: It will be interesting to see what happens with Upstream and the Broker Portal (full disclosure: I'm on the Upstream Board), whether they are able to catch momentum. Upstream could be a really useful tool for brokers in reducing complexity and costs while increasing accuracy, enhancing our ability to control the dissemination of listing data. And the Broker Por- tal could become a really interesting challenger in the "portal wars," now that Zillow has essentially swal- lowed up Trulia. PT: Are there any out-of-the-box ideas you've imple- mented that are helping your frm stand out from the competition? JR: Over the last few years, we've been refning our approach to the client-service experience, what we call "Client-Oriented Real Estate," or "CORE." We look at the industry and don't see anyone trying to stake out the high ground in becoming the Nordstroms or Four Seasons for real estate. We've been building our pro- gram step by step for over 10 years, and every year we seem to add new tools and resources that help our agents provide a better experience to our clients: Consultation Guides that take an agent through the client consultation process; Project Plans that provide step-by-step checklists to guide an agent through the intake process to reduce chances for error; Orienta- tion Guides for clients that are essentially "explain- ers" for the buying, selling, or renting process; and lots of other tools both big and small that enhance a client's experience. What we've been doing recently is taking those same principles and applying them to the retention and recruiting experience—for example, we created a similar Consultation Guide that our manag- ers use in meeting potential recruits, which facilitates an appointment that focuses on the recruit's needs and how we can meet them, rather than a dry recita- tion of our value package. RE

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