The RE/MAX Chairman and Co-Founder's thoughts on recruiting, retention, management and creating brokerage profitability in any market conditions
August 17, 2011
We're No. 1 in virtually every way; let's be bold in saying so
It's time we got our swagger back.
As I told nearly 1,000 Broker/Owners and Managers in Los Angeles this week, I am through being polite or humble about the unmatched competitive advantages of RE/MAX affiliation. We have the best, most productive, most experienced agents in the business, and there's no reason to be shy about what that means. For instance:
• We are No. 1 in market share.
• We are No. 1 in agent productivity.
• We are No. 1 in brand name awareness.
• We are No. 1 in advertising.
• We are No. 1 in lead generation.
• We are No. 1 in professional education.
• We are No. 1 in the minds of buyers and sellers.
And we are No. 1 in the eyes of most of our national competitors, who understand that RE/MAX continues to be the home of top producers who outperform their agents year after year.
That's just the way it is, and we should be bold in saying it.
As a Broker/Owner in our system, you should be proud of this unbeatable edge, and able to explain it to your current Associates as well as your recruits. The fact is that real estate professionals who want to be on the No. 1 team – and are equipped for it – ought to be with RE/MAX.
Two recent developments involving consumer perceptions have reaffirmed our position as the real estate leaders.
First was the July announcement that RE/MAX had received two awards from J.D. Power and Associates for generating the highest overall satisfaction among buyers and sellers. That's quite an honor, especially at a time when transactions can be so complex, time-consuming and frustrating for the people involved. The fact that our Sales Associates' efforts were recognized by both groups of consumers made the achievement doubly impressive.
The second development, however, might be even more valuable to your recruiting and retention efforts. Just last week we received the findings of an extensive consumer survey conducted by Synovate, one of the leading researchers in the field.
The results were an astonishing, tremendously positive reflection of how we rate in the eyes of consumers. Here's a three-pronged message for you to understand and communicate to your agents and recruits: (1) Brand affiliation matters, (2) consumers know and trust RE/MAX more than any other national franchise, and (3) industry-leading awareness generates additional leads and business for our Associates.
That's powerful stuff, especially these days. Here are just a few particulars:
• In unaided awareness, 34% of the consumers mentioned RE/MAX as "top of mind." That number easily beat Century 21 (25%), was triple Coldwell Banker (11%) and was 10 times better than Prudential (4%) and Keller Williams (3%). Overall, 95% of the survey participants were aware of the RE/MAX name. Not to single anyone out, but less than 50% of the consumers even knew Keller Williams existed.
• Similarly, 30% of the consumers recalled seeing or hearing a RE/MAX ad recently, a figure triple that of Century 21 (12%), six times greater than Coldwell Banker (5%), 15 times greater than Prudential (2%) and 30 times greater than Keller Williams (1%).
• And how does that translate into business for agents? When asked what brand they would most likely consider if buying or selling in the next two years, 28% of the consumers chose RE/MAX. Only Coldwell Banker and Century 21 scored in double digits, and the RE/MAX figure nearly quadrupled the results of Prudential and Keller Williams.
There is plenty more gold within this study (RE/MAX is the brand consumers would most likely recommend to a friend or relative, for instance, and "company image" is the leading reason sellers choose a RE/MAX agent), and our creative team will be developing materials for you to use.
These tools will help you drive home the fact that RE/MAX continues to be the best option for the industry's most capable agents. That has never really changed, but many of us, from Headquarters to regions to local Broker/Owners, haven't been communicating it as directly and forcefully as we should have been.
That changes right now. We are the No. 1 brand in real estate. And we will be saying so. Loudly and very clearly.
To those of you who attended the Broker Owner conference this week, I hope you enjoyed yourselves and got a lot out of the experience. It's always good to get together and share ideas, and this year's event was one of the best ever. Thanks for coming. For those unable to attend, I hope to see you at R4 in Las Vegas next March.
I can't overstate the value of the Competitive Intelligence website we announced on Monday. You'll see more details in tomorrow's Broker/Owner Weekly email, so be sure to take a look. The site aggregates information from a wide variety of your competitors. It can take your edge in recruiting and retention to a whole new level.
Download a PDF version of this e-mail, or past editions of Profit Lines, via RE/MAX Mainstreet.
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