18 Jan 2012
I recently watched a video from the Real Estate Connect conference in New York in which Chris Smith and Katie Lance of Inman Next presented fascinating and valuable research results about “The Agent of Tomorrow.” The video is embedded below in 3 parts. For higher quality video and audio, you can see the entire 20 minute presentation in one pass here at their website.
They surveyed 1,500+ real estate agents – getting a half hour and answers to 80 questions from each one. These agents are all among the top in their industry – every one of them with at least a $100,000 income (for reference: the average income for agents is $34,000 per the NAR).
Indirectly, they made a very compelling argument for real estate video email - both for brokers/owners and for agents. Here are some observations:
REAL ESTATE VIDEO EMAIL: Brokers/Owners/Team Leaders
Chris (at 4:00): 92% of $100K+ agents are in the office less than 15 hours per month. 17% of them never go into the office at all! 42% of them never attend an office meeting. They’re not “in the huddle.” They’re not in the meetings. “How do you coach them up if they’re not in the office?”
Chris (at 5:30): “83% of the people making the money in the industry want you to communicate with them digitally … email, text, social.”
Chris (at 6:10): “Are you communicating with them the way they want to be communicated with?”
Chris (at 20:45 – or 3:00 in video 3 below): “The #1 reason a $100,000+ agent of tomorrow will leave your brokerage is technology support. The #2 reason is culture … The #3 reason is confidence in your vision for the future.” And among $100K+ agents in the business 20 years or longer, culture was the #1 reason.
How Video Email Helps:
BombBomb gives real estate brokers, owners, and team leaders a personal, powerful, and easy-to-use way to recruit, train, motivate, and inspire your agents.
Video provides complete communication. It shares your face, your voice, your personality, and your message in a way with which the agent of tomorrow wants to be communicated.
By adding this video to the email channel, you create a series of trackable events, each with follow-up opportunities. You can see who opened your email, which links he or she clicked, whether or not they looked at your documents, and whether or not they watched your video. You’ll know exactly who’s engaged with your messages and at what depth.
REAL ESTATE VIDEO EMAIL: Agents
Katie (at 10:10 – or 2:50 in video 2 below): “Video. We see a huge opportunity in video … 81% of the people we surveyed making over $100,000 have video on YouTube.”
Chris (at 11:50 – or 4:30 in video 2 below): “What is the best bang for the buck in the real estate industry right now? … It’s still a relationship, referral, ‘book of business’ business.” The best ROI and the top source of leads for $100K+ earners:
- 1. Past Clients/Referrals
- 2. Their Website
- 3. Their Social Media Presence
Chris (at 15:00 – or 7:40 in video 2 below): “98% … We didn’t just want to know where they were getting their leads from and their income, we wanted to know once the leads have come in, how are you converting them? What takes them from a lead to an escrow deposit?”
Chris (at 15:20 – or 8:05 in video 2 below): “The most effective way of digitally converting people into business is email marketing.”
Why Video Email Works for Real Estate Agents:
Based on Inman’s survey results, real estate agents are getting more and more comfortable with video (81%!?). Based on how we see real estate agents using BombBomb, video is easy and inexpensive with webcams, Flip cams, small camcorders, and iPhones. Agents are shooting and sending video of themselves and of their listings.
RELATIONSHIPS & LEADS:
The reason BombBomb was created was to build trust and build relationships. Video is a powerful way to do this. With relationships and referrals as the leading source of business for top earners (and probably for everyone else, too), video email just makes sense. Automation tools like autoresponders and drip campaigns also help nurture prospects.
The second and third leading sources of business are also tied to the email channel. Email is an activator for websites, blogs, and social media. It’s a key piece in driving clicks to these places and a key piece in cross-marketing between all these channels.
Real estate video email doesn’t just work for generating leads and driving traffic – it’s also a conversion tool. Email marketing is cited by top earners as “the most effective way of digitally converting people” – and the inclusion of video only makes the message stronger, more compelling, and more engaging.
The Agent of Tomorrow (Part I):
The Agent of Tomorrow (Part II):
The Agent of Tomorrow (Part III):
REAL ESTATE LINKS:
For more info about BombBomb video email for real estate agents - just click here.
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