Social networking is an important modern method for real estate agents to manage relationships with their sphere of influence using online technologies rather than traditional advertising. It allows agents to be accessible to current and potential clients online in ways that are more targeted and relationship-focused than other marketing methods. Brokers should develop a social networking plan where they control a company page and connect with agents. They regularly feed timely, consistent content to this page to attract friends and facilitate sharing across the agent network. This strategy leverages the power of the brokerage's entire network while maintaining control over branding and messaging.

1. Social Networking The Profit Frontier www.matthewferrara.com

2. In this session… We’re going to learn how to sell real estate the way consumers want to be sold it. Because we don’t get to decide… they do.

3. ? What is Social Networking?

4. What is Social Networking? It’s a fancy new term for prospecting BUT! It’s a modern method of doing the single most important form of prospecting: Relationship management

5. updating answering commenting photos blogging sharing playing linking twittering videos posting watching

6. Simply put… It’s creating and maintaining relationships with your sphere of influence using web 2.0 and wireless technologies… … instead of advertising

7. ? Why Do it?(Is Social Networking another fad?)

8. Effective, Active Targeted prospecting A Modern CRM Platform / Shift The Consumer is easier to reach this way (or harder to reach in other ways) 3 plus 1 Plus: It’s fun!

9. 1 TARGETEDMARKETING (for a change)

10. There is nothing so useless as doing efficiently that which should not be done at all. - Peter Drucker

11. For once, let’s use the research!

12. 95% * buyers using SN daily18-44 in 2008

13. 11% * REALTORS with a Facebookpresence in 2008

14. 61% * REALTORS dissatisfied withexperience on SN sitesReason: I don’t get any leads.

15. 64% of all listings were from referrals or repeat clients … which is who you’ll be connected to in social networks

16. 2 Customer Relationship Management (CRM)

17. 88% of internet leads are abandonedwithin 30 days of receipt - Database methods are just too hard to maintain.

18. 60% of online consumers worked with the agentwho “was there” when they decided to go… … which would be easy to know if you were connected online.

19. Customer satisfaction is worthless. Customer loyalty is priceless. - Jeffrey Gitomer

20. Customer Relationship Scale Weaker Stronger ADVERTISING FOCUS RELATIONSHIP SALES FOCUS SEO/PPC Postcards IntroductionsRecommendations Website Print Media Email / IM Phone calls Blog / SN

21.  However……. You Will NOT GET LEADS

22. Social Networking is NOT about Leads Purpose of SN Relationship management Consumer Intelligence “Secret Spy” With Social Networking… Consumers will tell you when they are ready for your services…. Willingly…. Clearly…. Simply… You just have to be there, and be listening.

23. Social Networking CRM for the Next Generation of Consumers When Real Estate was by Boomers, For Boomers Database Driven Direct marketing tools Communication as periodic advertising from an “expert” or “authority” “You need me, come to me” sales model When Gen X and Gen Y Dominate Sales Relationship Driven Influence not Authority Relationship as marketing Communication as a persistent presence “Know consumer’s need before they realize it”

24. The Next Generation Gen X: Move Up Seller Gen Y: First Time Buyer

25. Even “New” Marketing is Struggling

26.  Develop a Social Networking Plan (Broker Centric)

27. Structure Online Presence

29. Post links

30. Interactivity (Polls, applications)

31. Network

32. Repost

33. Listen

34. Comment

35. Post

37. Some things TO DO… Get managers involved Interacting with agents on their pages Attracting new agent “friends” Monitoring comments on company page and agent pages, to keep an eye out for customer feedback, complaints, ideas, testimonials, etc.

38. Some things NOT to do… Do NOT Forget “WIFT” Do NOT blast your listing inventory Do NOT engage in “heated” online back-and-forth (pick up the phone)

39. What Brokers Need to Create Things agents need to have “handy” every day to practice networking, not “creating” Consistent, timely blog entries Interactivity tools like polls & surveys to get research; recompile and post results Contests, games and other non-business fun Upload a photo contests Press releases, related or suggested links, video clips and other friendly 3rd party content Acceptable reasons to link back to the company web site with inventory, services content

40. Summarize

41. The Strategy Brokers control a company social network page and connect with all agents and company partners Brokers feed timely, consistent content into page to directly attract friends, and facilitate sharing by their agent network Think of it like a “relay” race that leverages the power of your network but manages the appearance of your brand/content

42. You have no time to lose… This is no longer an effective alternative change management strategy. For More Information, Blog Content and Webinars, visit www.matthewferrara.com