Mortgage Brokers Discuss Successful Housing Market Strategies
From cutting-edge technology to innovative client-retention programs, three leading home mortgage brokers recently discussed their strategies for succeeding in today’s climate.Courtesy of Real Estate magazine, here is an exclusive roundtable report, moderated by Virginia Cook, the National Association of Realtor’s special liaison for large firm relations.The Participants:
- J. Lennox Scott, Chairman & CEO, John L. Scott Real Estate - Seattle, WA
- Brenda Shipplett, President, Long & Foster Cos. - Fairfax, VA
- Rick Loughlin, President & COO, Coldwell Banker Residential Brokerage - Waltham, MA
Virginia Cook: What resources, support systems, and training are essential to help real estate agents provide stellar service to customers?J. Lennox Scott: To provide the highest level of support to agents, companies must constantly invest and reinvest in resources and systems that enhance their agents’ competency with their clients. This is achieved by providing continual training, innovative marketing tools, and cutting-edge technology.With regards to technology, the most recent example of this at John L. Scott is the launch of sold property information on johnlscott.com. The addition of this information to our website empowers consumers to make better decisions about their home buying needs. It also enhances their overall real estate experience which transfers directly to their relationship with their agent and leads to repeat and referral business.Brenda Shipplett: This year, we have offered all of our agents Brian Buffini’s 100 Days to Greatness program. We are seeing increased skills, and actual sales made, due to this great training. We have also revamped our company website, offering each of our agents their own free site, complete with ebusiness training. Our ebusiness conversion rate has grown as a result.Rick Loughlin: Last year, we introduced Power Pricing, Positioning, and Presentation, an educational program offering unique communication techniques and pricing strategies. It has helped hundreds of our sales associates achieve desired sales results. Expanding the ways in which we market ourselves online continues to be a significant component. We have made considerable investments to ensure that we are capturing the online audience and bringing them directly to our associates.VC: What about the tools and services that mortgage brokers should offer customers?JLS: Just as companies must continuously invest in tools and resources to enhance their agent’s service, they must also do the same to enhance the client’s experience.An example of this would be John L. Scott’s recent launch of our High-Definition Home Search powered by Microsoft Virtual Earth. With this highly intuitive mapping system, clients can take a virtual walk around a particular home and the surrounding neighborhood using 3-D bird’s eye imagery.Brokers must continue to look to and invest in technologies such as these in order to empower consumers and remain the preferred destination for real estate information.BS: We are in the midst of a great campaign entitled “Helping Those Who Serve.” Our mortgage, title, and insurance companies created a fabulous program for policemen, firemen, health care workers, teachers, and our military that gives special rates, discounts, and services to this special buying or selling population.The program is only 60 days old and we have already helped more than 100 of these families buy or sell a house. Also, our new website has many wonderful features to help our customers with the process of buying and selling.RL: We provide listings on multiple websites with multiple photos; knowledge of proper market positioning and pricing; strong negotiation skills; and a one stop-shop for all residential real estate needs, including mortgages, relocations, and home warranties.