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A nationwide realtor referral network…
Lisa Fettner, VP of Marketing for ReferralExchange (real estate agents can submit and receive clients from across the US), joins Thomas Kutzman in the MouthMedia Network studios powered by Sennheiser. Presented by Prevu.
In this episode:
- How the role and job of agent has changed in last few years
- The need to be hyperlocal while being able to help people everywhere
- Why agents needs to be the subject matter expert to help them now and several years down the line, a client’s entire source for real estate
- Now it is all about the relationship
- How ReferralExchange is superior, algorythms, look at agents’ experiences
- Look at agents who want to participate and want to be engaged, while looking at their specific areas of expertise
- Handling personal info of referrals
- Handle tracking, follow up
- Most important factor when referring – protecting agent reputation
- The concentration of agents in the market, agents in pretty much every populated zip code
- Why ReferralExchange operations are in San Francisco and Sacremento
- One big challenge these days—agents don’t call leads or referrals back
- Minimizing bias, racial concerns based on photos
- Advice to be as personalized and customized for clients as possible, keeping clients in mind
- Fettner’s passion: Princess Project – give away prom dresses to teens who can’t afford them, promotes inner beauty, self confidence
- Don’t be afraid to have that conversation – it can lead to a relationship
David Walker
Walker discusses why there’s room for so many new players, how despite the Internet and technology in other industries, the real estate industry lags 10 years behind, and in the last few years a transformation has begun. How the modern buyer and seller are smarter and looking for tech forward brands in all they do, how Triplemint is pushing the envelope, consumers are leading the charge, how more can be offered than just the agent, and the right equation of offering fantastic humans plus tools. There is a similar shift in real estate as in financial services, what’s changed is a demand for tech, an ease of actual transaction, speed to close, managing properties seen, and transparency of data. And, how to show more properties to buyers than they can see anywhere else, using predictive analytics. One major value prop is understanding trends and patterns and the data to determine someone is likely to list their home, adding a new value prop pre-market that’s fair for the consumer to have, earlier in the value chain. It’s not about convincing people to sell. Adding more data to the pricing picture. Plus, diligence to fiduciary responsibility,
Customer service satisfaction survey measuring chance of referring business in the form of a Net Promoter Score (NPS), evaluating agents, and competing against established firms for that talent. How it used to be about highest splits and nicest offices, and now about the value a company can provide to the agent to do business and to the buyers and sellers. Two-thirds of transactions are acquired digitally by Triplemint, acquisition via agents and platform, and how it is one thing to get customers and another thing to offer more value and close transactions and get referrals. Triplemint’s off-the-charts NPS score of 91, with an average survey of 9.7/10 and a testament to the team. Triplemint boasts success due to fantastic agents, great and powerful technology, and empowering value.
Looking ahead at expansion beyond NY, how the consumer is getting smarter, and wanting to empower them to do so. Will the need for agents dissipate or is the consumer seeking agents who provide real value? And personal questions cover a surprising mobile app, The New Classics, Fantasy Football, working with a college friend and rowing teammate, an Iron Man, overcoming disagreements, working real estate, and teaching English.