Brokers perpetually seeking improvement
Recently, I wrote about J. Crew CEO Mickey Drexler as an exemplary leader that real estate professionals can learn a great deal from. He is meticulous, connected, and perpetually seeks improvement.
Yes, CEO behavior can teach brokers how to improve, and those same lessons can be learned at the independent agent level, but it is up to the brokers to lead and set precedent in an organization.
Should brokers act more like retailers?
Real estate is one of the most scattered industries in America- put a million independent contractors in a room and ask them who their boss is, who they serve and what their biggest obstacles are, to see what I mean. After finishing the real estate exam, agents hang their licenses, usually going for a recognized brand, and when they become unhappy, they join a boutique and eventually take the broker’s exam and set up their own shop. This is a common course for agents to take. But imagine if a broker were to set a better example, to touch every part of the process and behave more like a retailer?
I was told a story of a new agent whose broker flew to town and zipped through the office. The new agent had never met his broker and was enthusiastic to get to shake his hand. The broker ran through the office, used the bathroom, waved hi to all and left. The agent had so many questions and was excited that he met THE broker. He became disillusioned when the broker never came back to visit and never answered his calls or questions. This is a common tale.
Brokers, are you tapped in to the pulse of your company? Not just “we have X number of agents aged 40-50 and a retention rate of X%,” but “Joe loves selling homes on the golf course and his daughter is in college studying marketing, how can I be a better resource about golf course living, help him transact more, and maybe I should get to know his kid so we have new talent in the pipeline?”
How Gov. Bush led
Love him or hate him, when George W. Bush was the Governor of Texas, he didn’t start his day locked in his private office, he went to the basement of the capitol where his staff worked and one by one, he stopped by every office and knew their names, their stories and their needs. He treated them like family, even behind closed doors- it was never a PR stunt. I hear rumors that he did the same at the White House. Brokers, do you know your agents like family?
Disney executives test the product
Disney executives are all required to spend days at their sites riding rides, standing in line, buying food, getting pictures taken with characters, and experiencing it first hand. Their fastest way to improve customer experience is to go through it themselves, not as an executive who is called “sir” and moved to the front of the line, but as a cargo short wearing vacationer.
Brokers, do you experience your transactions first hand?
Do you send emails in to the office from a fake account to see how their response is? Do you personally call agents’ cell phones from anonymous numbers and see how many minutes, hours or days go by before a return call? Do you stop by your listings and your agents’ listings and check that the sign still has the proper riders and that the lockbox is where the MLS says it is? Do you go to your agents’ independent websites and see if there is any brokerage branding and that they are compliant? Do you visit their blogs to see if they’re wasting time blogging about “how agents should Twitter 101” instead of market reports or locally relevant information? Are you going through the designation courses yourself to know what they do or don’t offer so you can guide your agents toward what is right for their career? Are you checking out what your brokerage’s website looks like on a smartphone a year after it is launched to see if anything is broken? Are you a trusted resource for your agents that they can directly call or do they have to talk to your gatekeeper?
Or are you one of those brokers who is just blogging all the time about “raising the bar” then doing nothing to raise your own?
This seems like common sense, but apparently it is not for all. It’s simple math- by being a better broker, your agents will earn more, thus will you, but slacking off as most brokers do, or focusing on Twitter and your next internet fame endeavor as a rising number do, you’re a disservice to your agents, clients and yourself.
Spruce up your product images with Glorify (just in time for Black Friday!)
(BUSINESS MARKETING) Want professional, customizable product images for your company? Consider Glorify’s hot Black Friday deal.
Glorify, the app that creates high converting, customizable product images for your business, is offering a lifetime deal for $97 this Black Friday. In just a few clicks, you can transform one of Glorify’s sleek templates into personalized, professional-looking content – and now, you don’t have to pay that monthly fee.
Whether your business is in electronics, beauty, or food & drink, Glorify offers a range of looks that will instantly bring your product images to the next level. With countless font styles and the ability to alter icon styles, shadows and other elements, you can access all the perks of having your own designer without the steep price.
In 2019, Glorify was launched – the app was soon voted #2 Product of the Day and nominated for Best Design Tool by Product Hunt. Since then, they have cultivated a 20k+ user base!
Glorify 2.0, which was launched last week, upgrades the experience. The new and improved version of the app is complete overhaul of intuitive UI improvements and extra features, such as:
- background remover tool
- templates based on popular product niches and themes
- design bundles for your website/store, social media
- annotation tool
- upload your brand kits and organize your projects under different brands
- 1 click brand application
- & much more!
“But the most important aspect of Glorify 2.0, is that it comes with a UI that sets us up for future scalability for all our roadmap features”, said CEO of Glorify Omar Farook, who himself was a professional graphic designer.
Farook’s dream was to provide a low-cost design service for the smaller businesses that couldn’t otherwise afford design services. Looking through reviews of the app, it’s evident that Glorify does just that – it saves the user time and money while helping them to produce top-notch product images for their brand on their own.
Glorify is one of the many new design-based apps that make producing content a breeze for entrepreneurs, such as Canva. As someone who loves design but doesn’t have the patience for Creative Cloud, I personally love this technology. However, Glorify is unique in that it is the only product-driven design app. All you have to do is upload your photo!
This new Chipotle location will be fully digital
(BUSINESS NEWS) In the wake of the pandemic and popularity of online delivery, Chipotle is joining the jump to online-only locations, at least to test drive.
A lot of industries have switched to an online-only model in the wake of the pandemic. Most of them have made sense; between abundant delivery options and increased restrictions on workers, moving away from the traditional storefront paradigm isn’t exactly a radical choice. Chipotle making that same decision, however, is a plot twist of a different kind—yet that’s exactly what they’re doing with their first online store.
To be clear, the chain isn’t doing away with their existing locations; they’re just test-driving a “digital” location for the time being. That said, the move to an online platform raises interesting questions about the future of the restaurant industry—if not just Chipotle itself.
The move to an online platform actually makes a lot of sense for businesses like Chipotle. Since the classic Chipotle experience is much less centered on the “dining” aspect than it is on the customizability of food options, putting those same options online and giving folks some room to deliver both decreases Chipotle’s physical footprint and, ostensibly, opens up their services to more people.
It’s also a timely move given the sheer number of people who are sheltering in place. A hands-on burrito assembly line is not the optimal place to be in a pandemic, but there’s no denying the utilitarian appeal of Chipotle’s products. To that end, having another restaurant wherein you have the option to order a hearty meal with everything you like—which is also tailored to your dietary needs—is a crucial step for consumers.
Chipotle’s CTO, Curt Garner, says he is hoping this online alternative will offer a “frictionless” experience for diners.
As a part of that frictionless experience, consumers will be able to order in several different mediums. Chipotle’s website and their mobile app are the preferred choices, while services like GrubHub will also be available should you choose to order through a third-party. The idea is simple: To bring Chipotle to you with as little fuss as possible.
For now, Chipotle is committing to the single digital location to see how consumer demand pans out. Should the model prove successful, they plan to move forward with implementing additional digital locations nationwide.
Your business’ Yelp listing may be costing you more than you think
(BUSINESS MARKETING) The pay per click system Yelp uses sounds good in theory, but it may be hurting small businesses more than helping.
We all know Yelp – we’ve probably all used Yelp’s comment section to decide whether or not that business is worth giving our money to. What you might not know is how they are extorting the small businesses they partner with.
For starters, it’s helpful to understand that Yelp generates revenue through a pay per click (PPC) search model. This means whenever a user clicks on your advertisement, you pay Yelp a small fee. You never pay Yelp a cent if no one clicks on your ad.
In theory, this sounds great – if someone is seeking out your product or service and clicks on your ad, chances are you’re going to see some of that return. This is what makes paying $15, $50, or even $100 a click worth it.
In practice, it’s not all it’s cracked up to be. When setting up your Yelp account, you are able to plug in keywords that correspond with your business. For example, owner of San Francisco-based Headshots Inc. Dan St. Louis – former Yelp advertiser turned anti-Yelp advocate – plugged in keywords for his business, such as “corporate photographer” and “professional headshots”. When someone in the Bay Area searches one of those terms, they are likely to see Headshots Inc.’s Yelp ad.
You are also able to plug in keyword searches in which your ad will not appear. That sounds great too – no need to pay for ad clicks that will ultimately not bring in revenue for your business. In the case of Headshots Inc., Dan plugged in terms such as “affordable baby photography” and “affordable studio photography”, as his studio is quite high-end and would very likely turn off a user who is using the word “affordable” in their search.
How Yelp really cheats its small business partners is that it finds loopholes in your keyword input to place your ad in as many non-relevant searches as possible. This ensures that your ad is clicked more and, as a result, you have to pay them more without reaping any of the monetary benefits for your business.
If you plugged in “cheap photography” to your list of searches in which your ad will not appear, Yelp might still feature your ad for the “cheap photos” search. As if a small business owner has the time to enter in every single possible keyword someone might search!
In the case of Headshots Inc., Dan ended up paying $10k in total ad spend to Yelp with very little return. Needless to say, he is pissed.
So what does this mean for you if you use Yelp for your business? If you don’t want to completely opt out of Yelp’s shenanigans, try these 3 tips from Dan:
- Try searching some potential irrelevant keywords – are your ads showing up in these searches?
- Do your best to block the irrelevant keywords. It’s impossible to get them all, but the more you do the more money you will ultimately save.
- Keep an eye on the conversation rate on your profile – does more clicks mean more client inquiries? Make sure Yelp isn’t sending low-quality traffic to your profile.
Ultimately, it’s about protecting your small business. Yelp is the latest in big tech to be outted for manipulating individuals and small businesses to up their margins – a truly despicable act, if you ask me. If you don’t have tens of thousands of dollars for ad spend, then either boycott Yelp or try these tips – your company may depend on it.
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