Personally, I get the real estate social media part where it is really about business to business networking and building a client base for future sales. It really isn't as much about socializing as many in our industry think. That is just the 'fad' part of social media. I prefer to talk about the productivity part of it.
I view real estate whether it is in a bricks and mortar or a virtual setting as a profession and a career. It is also my livelihood! All efforts Blogging at some point should be a productive exercise and have a purpose, otherwise what is the point? In my opinion, there has to be a purpose to a posting other than "I just walked my dog," or "I'm so sleepy!" As much as many defend this, I do not see how that enhances a professional career or image. What would much more appealing to me... as result of my online efforts - that I were viewed as a source of information, or advice. If we can demonstrate our knowledge and real estate experience - that alone should raise the bar on why clients need to seek us out for our superior service. On the other hand, if my online image is so poor, mundane or so colloquial, I'd assume that the reader or viewer will just move on very quickly! "Next!"
In our real estate industry it has been accepted a fact that even in good times we have an 80% turnover of real estate agents every two years. So here's my question... "Is real estate social media the new "Gathering around the coffee pot crowd at the office?" The reason that I say this is that most people in our industry will not make it. They have always been time wasters and complainers. This large industry turnover really magnifies the 80/20 rule or the 93/7% rule in our business. What is is really saying is that although many persons are licensed in real estate, but very few actually produce. The sad reality is that a few people in real estate produce while others talk about production, and then they move on. So how does this apply online where the conversations, comments and opinions are now online? Is real estate social media the new office hangout around a virtual coffee pot for senseless conversations, bad jokes, political rants and more?
In the past, those that produced were seldom seen around the office or office meetings. They were too busy working. For them, there is no time for idle chatter if your production was up and you were busy closing real deals in real estate and making good money. If you asked a high producing agent (making over 6 figures /year) why they never come into the office, they would have a list of items they would routinely answer:
- I can't sell homes to other agents.
- Doesn't pay the bills.
- Too many interruptions - can't get my work finished.
- Too much negativity and speculation around the water cooler or coffee pot!
- Idle gossip.
- Too much socializing - lunch, jokes, shopping, and attempts of fraternization.
- Just a waste of time!
Now I take a different view. In a brick and mortar real estate office I've had my mentor that were well versed highly productive brokers and lawyers that I could ask real estate legal questions or seek advice. I also had access to loan officers, inspectors, builders, and other high producers that occasionally I would pick their brains or share some referrals. For me it was a productive exercise. It does not matter who produces around me, what matters is that I produce. So I make a personal choice to avoid the unproductive items, luncheons, the caravans, the gossip and the time wasters.
If we do that in the office, how do you do that online?
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Jim,
You make a some very good points, but is it possible that sometimes idle conversation can lead to a breakthrough idea and that always thinking real estate may lead to burn out?
Eddie Matthew (Zenith Realty) Only if you can prove that is where your lead came from. Other than that..it was luck or coincidence.
Very interesting. I knew that only about 10 or 20% of agents made a solid, above average, living at it and maybe (just guessing) 20 to 30% more made a great "side" income. I have known too many agents recently that have been looking for other professions and jobs. If things are really that bad in the best of times, in other times (such as the current slump) must really be playing havoc on the numbers.
Jim,
Good post. I suppose that it is not the social media sites that are wasteful, but rather that the name "social" is misleading, that is as long as we are selective in which blogs we choose to read.
Tom Robinson - That statistic has been around for years. Most agents come on board sell their 'sphere of influence' and fall dead in their tracks when they fail to generate new business or leads. My guess is today there a lot more hanging around be cause no one is hiring anyway. However, they are still non-productive.
Ron Trzcinski (ExecuHome Realty) I think the term "Social media" is a misnomer and should be 'social marketing.' I assume we are not doing it to make friends but the end result is to close more business from our efforts.
Jim...
I think many do not examine the ROI of it all. I also know many here on AR are posting junk for points. Those points, although earned, do not make a Blogger an expert at what they do. I have so many opinions about this topic. I've written posts in the past about this very same thing. So, naturally I'm pleased to see the topic come up again.
Yeah. I could blog about my dog, the gators, the birds, the butterflies, the grass growing, the flowers, the trees, my furniture, my naps, my hobbies...I could throw all of that out there. But does it really mean I know anything about anything? :)
P.S. Sometimes these little rants of mine sound better in my head :)
TLW...ROAR!
Wait...
Do I get coffee for mouthing off? :)
TLW...ROAR!
There has to be some balance. You can get very bogged down in all the social media so much that you don't get anything done. However if you do it right, you can generate plenty of leads and credibility which thus hopefully increases your business.
Great point. A few months ago I had actually taken a step back and reevaluated my productivity and time spent this year on social media. I have come to the conclusion that something needs to change. By being more conscientious to this, my pipeline is suddenly growing again. So, if you don't see me around here as much it's because I am ffocused on business and less so on blogging. Although, I might need intervention when it comes to facebook and tending to the farm.
Jim - Great post! I've got an answer, but I think I'll turn the answer into a blog post. Thanks for the thoughtful questions!
Jim ~ Great Post!
I come here to educate myself and be in the front row in my local area. I admit at the beginning I posted junk for points and to get out there and didn't have a clue what I was doing. Now I am getting to the REAL REASON to be here. My points on Active Rain do not spend at Winn Dixie! I am going for the Local Expert Professional that I am and want future clients to find me in my area.
P.S. I have a long way to go but I am learning.
Hi Jim~ I guess everybody is different and they do the things that work for them. I have purposely, over the last two years, chosen to slow down and enjoy life and stop working 24/7 so I am rather enjoying the social networking sites! Activerain and Facebook are my favorites. I am also enjoying hand picking the clients that I work with now. It is a great feeling and I am as busy as I want to be!
Well, I have had my own questions about some of the so called "social" networking and its return on the invested time and money. But, I was surprised to see you labeled "caravans" as a waste of time. Our office sells more of its own listings than our competition and the first rule in selling is now your inventory. I don't see such activity as a time waster. Same with luncheons were we get to interact with fellow agents to pick their brain and maybe GIVE a little of yourself.
Jim. Well said and well written as usual. My take on social media is the same as everything else. If I am doing it, I need to know WHY, and every activity needs to be done on purpose, with a purpose. I also spend my time proportionately online that is appropriate for the percentage of consumers who want to use that forum to learn about me. To date, I've received and closed 2 referrals from social media, so its sparked my brain to ask "if I closed 2 doing it THIS way...how else could I make it better to close 4 next year"
I think the RSN show on Social Networking that aired recently was very good. Margaret Kelly said limit yourself if you do too much or force yourself if you do not do it enough.
Jim, I believe like you if it does not produce why do it. Not everyone of my post is directly about real estate but indirectly about real estate. I for one never got anything out of office meetings. I am best suited working when I work how I work. This is so true about gossip and water coolers.
Jim -
When I first started blogging (outside blog, not AR), I had never heard the term "socal media". All I knew was that I wanted a way to write about my community and what was going on in real estate - and that a monthly newsletter was too limiting. I had a very good teacher who said, in no uncertain terms - your readers don't care about your Uncle Henry or Aunt Sue or what you did on your summer vacation. My question is always - "what do my readers need to know?" And when I'm at the office, my question is the same "what do I need to know?"
Thoughful post.
Jim - Some of the things that you mentioned as time wasters, such as caravans I have found to be very helpful. When i see a house it often jogs my memory about a prospect and gives me a reason to call them.
Jim,
Social media is good, but addicting. Like garlic, it can make a meal better, but too much is not good... The sad thing is the seemingly professional agents who blog for hours a day, but struggle with their business... in many ways, they are addicts...
Valid questions. During the very bleak times of the last year or so, I got so tired of all the negativity and griping in the office and decided that I had to find support and inspiration somewhere else. Most of the time for me it was looking at the big picture rather than the minutia, outside my industry rather than in it, and outside my office rather than in it. I think anywhere you can find new ideas, potential solutions, or groundbreaking ideas is the place to be. For some people that may be around the coffee pot, on active rain, at a poetry reading, or backpacking through the desert. But it's all about consciousness and purpose and shouldn't be about passing time. IMHO.
Jim,
I think this is a good post. I have talked with Realtors about joining ActiveRain and they just do not see the use. It's all paradigms and perceptions. I was initially attracted to ActiveRain, and all social networking for that matter, because I see it has an opportunity to ENGAGE with others online that you may never meet in person. Until Realtors see this as beneficial, they will see social networking as a waste.
Hi Jim. Nice post.
I do avoid the office for the above reasons.
Yes, we can have idle chatter online. It just happens a lot quicker...
Thanks for writing,
Ken
This is a question we should be asking ourselves constantly, to ourselves. The internet in a decade and a half has had explosive grwoth like a media type has never seen before. It has disentergrated offices and that it not necessarily bad if the office is negative or a time waster. But agents can waste a ton of time on line in a need to fill up a sense of isolation. It can look like positive activity, but if it is not productive then it is no better that the coffee pots chit chat. I find what helps me is to take out the social and just call it media, then i can treat it like direct mail, or newspapers, or whatever I call marketing. Yes it is low cost, but time is money.
Jim,
I like the post, it has merit. I too agree that the "social medial" groups are simply another way to promote your business. Getting your name out there is what it's all about isn't it!. I'm not on active rain to have friends, I'm there to promote my name/business as a professional Realtor and to learn from others who share the profession. No other reason.
Patricia/Seacoat NH
Though provoking post.
I do agree about changing the name from social media to just marketing, because at the end of the day that what counts.
In my consultation with clients on social media, i see one fear that comes up all the time that pushes activities in the social side rather than using social media for business.
And that is accountability and measuring ROI.
I find it rather sad that most realtors who use social media dont know how to measure ROI but more importantly dont WANT to measure ROI.
If you dont know how to meaure then that;s easy. you can learn how to do that. If you dont want to measure ROI and hold yourself accountable to get results that i do agree that this tool becomes a water cooler conversation just to pass the time
Jim:
A friend of mine that is another broker, and I prospect together -- she also is my accountability partner. She and I do not waste anytime, from 9-12 we are on the phones, calling expires, FSBO, sphere of influence etc. Last week we were not getting a lot of contacts, and my partner -- felt that she would have been better off blogging, tweeting, doing social media -- which she felt would give more tangible results.
Jim, excellently done. You have written exactly how I feel about blogging. Your second comment response is also spot on.
This is wonderful, now that I have found a genius (someone who agrees with me) I can just reblog your stuff and save myself a ton of time. :o)
The Lovely Wife"...Broker Bryant's Wife... (Co-Owner Tutas Towne Realty, Inc.) Have a cuppa java on me! You did well! :)
Rob Arnold, metro Orlando full service, investor friendly & foreclosure Realtor (Sand Dollar Realty Group, Inc.) You are so right! Balance is very important!
Jim, Thanks for starting the conversation. So far, lots of good, diverse opinions.
Sometimes we might waste time before we realize that an activity isn't as rewarding as we hoped. But who judges what is "rewarding." Life is not measured in dollars only. I'd ike to think that interaction with people is just as rewarding.
That's why I decided to try real estate sales. Not to get rich. Not to win awards. Not to be an expert. But to have a valid reason to interact with lots and lots of people. Fellow agents, market professionals, the public at large. The fact that I can make money is a bonus.
The internet has made it quick and cheap to stay in contact with anybody/anywhere in the world. To have access to all the opinions/advice you need. Thank you Mr. Internet and Activerain. I don't need an office coffee pot or water cooler to mill around...I've got something SOOO much better!
Carol Culkin (Houlihan Lawrence Realty) It is all about first things first. What is making your phone ring!
Jason "Need more business?" Sanders - Business Networking Specialist (www.TheValuePagesGroup.com) Enjoy!
June Tassillo Your Go to Girl & Realtor for Life! (Classic GMAC Real Estate - Franklin, NC 28734) Sounds like you have a good plan!
Hi Jim,
Don't you feel ActiveRain is providing you with the opportunity to network with other top producers?
Owensboro KY Real Estate Specialist Vickie McCartney, Broker, ABR (Home Realty GMAC Real Estate Owensboro Kentucky) I guess sometimes I feel more for the new agent that does not have their priorities straight. They leave the business before they even had a chance to start because the focused in the wrong area first.
Right no, Jim, my phone is not ringing. I think niche marketing on the internet is the way to go. Being consistent and informative will produce the right results. I spend far too much time just networking and not enough on the former. That is going to change next year.
Gregory Bain (BayShore Agency) Whatever works keep doing it. In the Atlanta area I think it was a great way to learn the inventory and areas, but it is not productive here.
Team Carroll Cranford NJ,Westfield NJ Scotch Plains NJ Real Estate, CDPE (Team Carroll - RE/MAX Classic Group) I think you are well balanced. I have made excellent money as a result of Active Rain Blogging, plus sold my own home from here. My specialty is SEO and that is why I am here.
Cheryl Ritchie, Southern Maryland Real Estate (RE/MAX 100) Again...there has to be balance, and a purpose.
Frank Rubi Kenner/Metairie LA Real Estate (Frank Rubi Real Estate Licensed in Louisiana) Frank I used to be a very big mass mailer, cold caller and door knocker! I stopped doing it when I found a better return on my time. The Internet is my niche!
Michael Bergin, Northern Virginia Real Estate (Coldwell Banker Residential Brokerage - ABR - SRES ) You nailed it. It is about their needs not mine!
Bill - Part of your observations are spot on! Certainly, if someone is just gabbing for social purposes, that may not amount to ROI ( but some gabbers work it on purpose). The bottom line- time management, social media or not, is going to be critical in an agent's success.
Jim, great post. That being said, there are many of us on social media sites who are doing VERY well with it -- but we use it properly. I have settled 4 homes in the past 6 weeks where I met the people who referred them to me on TWITTER. So I KNOW it works. I have $$ in my bank account to prove it. (And yes, 2 came from other agents, so I see the benefit in marketing to them as well).
Jim-I had a conversation recently about real estate bloggers who used blogging to bring in new business and those who seemed to use blogging as a way to be recognized among their peers. The first scenario pays the bills and the second one feeds the ego. I'll go with the first one anytime.
Sybil Campbell Realtor, ABR, SRES Williamsburg Va homes for sale (Long and Foster, REALTORS®) Sybil I only count it as productive if I've closed from it. I find caravans useful for other items, but not productive.
Patrick Harfst, CRS (Realty Executives - Gilbert AZ) I agree! Maybe we need an intervention of sorts! A little introspection never hurt anyone!
Peggy Chirico (Prudential CT Realty) I think you are on the right track. Sometimes I come here solely for ideas. There are a lot of great post here, but face it, I cannot read all of them. I also feel sorry for agents thathave listings. I try to stop by and offer at least a few words of encouragement. It is also about my own visibility for networking. I have to invest time in ideas to be seen! This really does chew up a lot of time.
Jim,
I'm not sure what 'real estate social media' is, but I can see where it is not used as effectively as it could be by many. The truth is that none of it is new. Just a different format. Take Tupperware for example. Their products were sold on store shelves, but the real success came from the home parties and the social networking aspect of things. When used correctly, the results can be great. Success is found in a balance of online and offline using the tools in each effectively is what I find. Great post.
Jim, One man's (or woman's) coffee is another's cool-ade. I NEED the camaraderie of meeting around a cup of coffee sometimes. I am in this for the money but it's not just the money. I for one, enjoy hearing a little about my collegues' children, grandchildren, hobbies, travels, whatever. It keeps me well-rounded. I just have to know when to turn it off and get to work.
Same is true here.
Jerry Bronstrup (Bristol Builders, Inc. Your Premier Contractor in L.A.) I agree and those that never discover the use of these tools are just involved in a new fad! But it works!
Ken Tracy Realtor Naperville Illinois Real Estate (Keller Williams Naperville) Glad you enjoyed it!
Joe Pryor.com Realtor Oklahoma Investment Properties (Redbud Realty) You are right it is an incredible media!
Patricia Aulson, REALTOR Portsmouth NH Homes-Hampton NH Homes (PRUDENTIAL VERANI REALTY - Portsmouth NH Real Estate ) That basically sums it up for me. I have made some great friends here, but I consider them more like peers and mentors! AR is an incredible resource!
Neil Venketramen You brought up some great points. Personally most agents do not have a business plan. They do not know the ROI on any of their activities. To them real estate is luck. To me it is a business.
Lorraine or Loretta Kratz-Certified Negotiation Experts, (Crescent Moon Realty, Inc. & Land N Sea Auctions.) Sometimes it is productive, and right now I am not finding it productive. My eyes are focused on the Spring market. All my efforts right now on the web are for next years market!
Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970 Bill I am glad you enjoyed it.
Hi Jim -- It seems to me you are saying everything ultimately, is all about business, or what's the point. I agree in most part with that, as that is my main driving goal, but I have also learned a ton on here that I can' do in a traditional office, as I found traditional offices a complete waste of time. That time formerly spent in an office (which was almost non-existent) is now spent prospecting, business development and servicing clients even better.
Jim:
This post is a subject I have been pondering for some time. All this social media ideas, and most I see in many areas have nothing to do with the real estate business or related topics. I think you must choose and allocate your time appropriately. I rather post good content on my site or make a video than just make noise.
Yes, talking with agents on a rare occasion, will get you an out of town referral. However, putting up content to attract buyer and sellers directly seems to make more sense to me.
Some people think that the person with the most friends wins. This is sometimes true. I personally know a loan officer that founded his marketing/networking by hanging out at bars. Frankly it didn't matter how great he was. He had so many friends that he was a producer. This may or may not be effective with social networking. Just my thoughts. Good sharing.
Finding balance is a tricky proposition in today's multi-tasking environment. The greatest compliment you can give someone these days is your undivided attention focused on their issues. That applies in person, on the phone, or online. Thank you Jim for bringing up this issue.
Jim, to your credit, I very much admire your focus on what works! All the other stuff that doesn't work for others you need not be a part of. Massive silliness in the social media world amazes me. Where do people find time for this? Oh yes, you told me. They are not working. Must be nice!
Awesome post Jim! Social media is only as effective as the agent's ability to "keep the main thing the main thing." It's so easy for those who are not focused on the bottom line to waist time engaging in non-revenu generating activities. Those who are focused on the bottom line blog with a purpose while others blog to blog!
Good post Jim! I need to get off here & call some leads!
Jim...For sure the way coffee is served is certainly different these days as opposed to the times before us... I'm with you on this blog... While it's good to sharpen your skills with others who are equally or better qualified, most of our efforts must be concentrated on the business aspects...
Hi Jim - I'll pay a couple of bucks extra to go to Starbucks so I can avoid the office crowd. I think a lot of agents mistake connections and activity in social media as being productive. Yes, it can lead to business, but by taking some of our online time and spending that in our local markets, many of us will see even better results.
Jim, very good points. I've not found time to chit-chat with everyone. I've only time to make sure I'm taking care of clients. If this is the way to make sales, I haven't found it.
Barbara J. Scoggins (e-PRO REALTOR® at Century 21 First Group, North East Texas) I'm here to make money and I make it form the Internet. I love it, but it is a tool!
Janet Reilly (Sotheby's International Realty) Most definitley, but not everyone on AR is a top producer.
Jane Peters Los Angeles Living, Los Angeles Homes (BRC Realty Group) I still produce more business from my websites than from Blogging. That is my niche!
Wendy Rulnick "Its Wendy!" Destin Short Sales (Rulnick Realty, Inc.) Time management is critical.
Jim, I've always wondered how the people that do all the blogging ever have the time to sell any property.
Marney Kirk, Towson, Maryland Real Estate (Keller Williams Excellence Realty) That is excellent.
Cindy Jones-Northern Virginia Real Estate & Military Relocation Services (RE/MAX Allegiance #1 RE/MAX Company in the World) That is the way I feel. I also do public speaking, seminars, write real estate columns and articles, and give interviews to the press etc... So my topics do not stay exactly on real estate all the time. However, with that being said, it give me a lot of visibility. I had one interview today, and another tomorrow. Free press keeps my name out there.
Kathleen West Flagler County & Palm Coast Realtor (Trademark Realty Group of Palm Coast) I've met many that were very successful on the Internet that can demonstrate closed sales as a direct result of IDX, email drip campaigns etc. I hear a lot of talk on social media but very few that will claim it is 80-90% of their business or that them closed 200K from it last year. So there is a disconnect. I undersand the networking side of it, but I also never met anyone that retired from selling Tupperware.
Marian Goetzinger Crystal Coast Real Estate NC (Pine Knoll Shores Realty 252-422-9000) Thanks and I enjoy that aspect as well.
Chris Olsen Broker Owner Cleveland Ohio Real Estate (Olsen Ziegler Realty) Sooner or later a prospector has to hit pay dirt. He has to hit a source of leads that he knows there are more nearby and he can take the ones he has to the bank and redeem them for cash. Otherwise he is chasing fools gold. For myself the web has become my proven rainmaker. Even in a lousy market, I am getting over 2500 unique visits a day. My traffic in social Blogging is mostly to other agents. If referrals were big, they would be money in the bank, but relocation's are down. So it is like the coffee machine...I am not going to sell homes to other agents. The return is less than pitching my services to the public via the web or my Blog posts aimed at SEO.
Richard Stabile Bergen County New Homes Builder Realtor (REMAX real estate associates) Richard I am in your camp, I get a better return directly on my website targeting the consumers directly. And Guess what? No referral fees.
Steve Kappre, Gloucester - Camden County NJ Mortgage Loan Officer | 856-419-3561 (Treasury Mortgage | Mortgage Company - New Jersey) I like that. I know a few really big agents that are great networkers, They are doing well and are not into social media. They are still going after personal relationships, and even in this market are doing well.
Frank Kliewer (Better Homes and Gardens Real Estate Executive) You are more than welcome!
I think it becomes an addiction. I have heard on many occasions that people will check their social media sites more often than email. HMMMM
Good Post!
-Julie
Gary Woltal - Associate Broker REALTOR® Dallas Ft. Worth (Keller Williams Realty) Gary planting flags on a lawn around the 4th of July may work to get 1 or 2 listings, but will it work all year long? Will the homes we list sell?
A hammer can drive a nail, but an air gun can hammer 1 100 nails in a few minutes. Which is the better tool to have? What is the best use of our time?
Some people in real estate get nervous and defensive when questions are asked, I don't. I constantly look for the most cost effective way to do my business and get the greatest return. If I want socialization, or new friends perhaps I will be a volunteer at a local community organization.
Dion Rainey Southern MD/Northern VA Homes (REMAX 100 White Plains) I am in the camp that says "Show me the money!"
Don Wixom (RE/MAX Advantage) Go for it. I like your new photo.
So what's your conclusion? A good website will outproduce a good blog?
Cherise Selley (Selley Group Real Estate, LLC) I agree. The business aspect is the only way to approach it.
John Novak - Las Vegas and Henderson NV Real Estate (Keller Williams Realty The Marketplace) By the way, I listed and sold several properties by going to Starbucks, and diners! IMO You have a better chance of success pressing the flesh than posting online.
Kay Van Kampen, CDPE, Broker, Springfield Missouri Real Estate (RE/MAX Solutions) The customer and client alwasy comes first.
Kay Van Kampen, CDPE, Broker, Springfield Missouri Real Estate (RE/MAX Solutions) The customer and client always comes first.
Tigard Oregon Real Estate >> Wayne B. Pruner, GRI (Oregon First) I think many are not selling.
Julie Chroust, Prospect Mortgage, Pleasanton, CA I think you are on to something.
Larry Boatman (Keller Williams Integrity Realty) A website any day of the week.
Jim, I think your post has great merit. One has to continually analyze what brings substantial leads in the door because that is what pays the bills. I have enjoyed other of your posts and have noticed that your point total is one of the highest I've seen. I will assume you have found a method that translates to the unique visits you receive every day on your other web sites.
For me it has been a learning experience which is acclimating me to the internet world for something besides reading manuals online or turning applications over to processing. I think there is a place for the internet as a marketing tool, which is where I put my efforts. I just have a lot to learn and experiment with to find the way to turn this into business.
Thanks Jim,
I just joined AR a couple weeks ago, because of the outside blog and ability to focus on neighborhoods through localism. However, it seems as if there is a strong emphasis here to write for other agents in an effort to build relationships for referrals I suppose...it is tough to have time to do both. I was encouraged by your comments...all of our online closings have come from folks finding and searching for homes on our website...the blogs do provide the ability to show knowledge and thoughtfulness, but the money has come from IDX conversions....house hunters to clients generally 6-9 months on average from initial contact writing an offer.
Thanks Jim,
I just joined AR a couple weeks ago, because of the outside blog and ability to focus on neighborhoods through localism. However, it seems as if there is a strong emphasis here to write for other agents in an effort to build relationships for referrals I suppose...it is tough to have time to do both. I was encouraged by your comments...all of our online closings have come from folks finding and searching for homes on our website...the blogs do provide the ability to show knowledge and thoughtfulness, but the money has come from IDX conversions....house hunters to clients generally 6-9 months on average from initial contact writing an offer.
Hi Jim ~ I am surprised the franchise is still providing the coffee! With the economy the way it is, many offices are cutting back on what they view as frivolous perks.
IMHO... whether bricks and mortar or virtual office, the results seem to be the same. 95% of all Realtors quit in their first year. The cream de-la cream rises to the top and the dead weight goes bye bye. That said, it is imperative that we surround ourselves with successful folks who will challenge us to reach for new heights. Iron sharpens iron! So, plant yourself where ever you will be most productive!
Hi Jim. It can be and some times it can be distracting. However only if one lets it. Time management is key which I am sure you already know. Congratulations on another great feature. ~ Lana
I'm so there with you on this. Perhaps the best blog entry I've read. It's all about turning activities into sales. If I want friends I can get them all day long. I have friends. This, real estate, is my business, my passion, my purpose. I'm here to help people buy and sell real estate. There are lots of perks associated with it, but my main purpose is to be involved in real estate transactions as an agent representing at least one side of the deal. There's a lot that goes into it such as relationships with members of our industry. When it comes to real estate it's important to remember why you're here.
Thanks. Now lets grab a cup of coffee and let me tell you what happened to me the other day!
With over 600,000 Active Rain points, now you're asking?? ;-)
So, how do I raise in the ranking of AR as quick as possible?..posts? Responses? Groups?..
I think social networking works as long as you work it... But positioning to get there first always helps..=)
Social media is no different than real life interaction. It is just virtual.
There are good successful agents who engage on line the most and others you can get carried away.
So in real life...the same thing.
Discipline and balance in all things.
You have to evaluate your business and see where the production and leads are coming from.
Good post Jim. One of the things stressed to me when I started in the real estsate business, was "always be evaluating the success of what you are doing"
What was working in the past may not necessarily be working now. Sometimes you have to push yourself out of the familiar comfort zone and broaden your scope
Jim I love the post. You are spot on with your thoughts! There are so many that are absolutely just wasting their time with these social media venues. Of course there are others that have a plan and have it down to a science.
Guy Thomas (WR Starkey Mortgage) Well for me the secret to success on the Internet you have to be found on page 1. You can have the best website in the world, but if you can't be found...it is sad. Sort of like an "Atheist funeral!" All dressed up and no place to go! Then they have to start calling. They cannot be dissappointed once they find the site.
Steve and Jan Bachman--Northern Virginia Realtors (Reston Herndon Ashburn Sterling Fairfax Centreville) Same here. I also find websites and IDX conversion best! It is an auto pilot business that makes the phones ring all day long. How else would I have the time to write as much as I do!
Melinda Peterson Grants Pass Southern Oregon Real Estate Cafe (Real Estate Cafe) Someone told me once in real estate that it is wise to "Stick with the winners, not the whiners!"
Lana Robbins P.A., GRI, Realtor ® in Tampa Bay, Florida (Coldwell Banker Residential Real Estate LLC) Thanks! I agree that time management is the 'Biggie!"
Jim, my friend, you and I have total agreement. Why are we doing what we are doing?
If I am not getting business from something, I will can it and move on to what does work.
I can remember when I started in Real Estate and after about two weeks an agent in the office asked me why I was never in the office... I responded with "I realized after the first couple of days, that no one in this office was going to buy a home from me"...
just good business sense...
Merry Christmas from your friend in Charlottesville!
Jim: Yes. Probably in too many cases. It's easier to be online with supposedly busy stuff than to actually go out and beat the streets. I'm not saying everyone does it. In fact, I would bet that quite a few of the people here are working their job as a career. It will be interesting to see where social media takes us. There are positives and negatives in my opinion. Thanks for the post!
Really and truly Jim I never got business from the big brokerages I was with... my business comes from my own websites. And the time wasters in my experience were in the office. I stopped going to the office because it was a total waste of time for me. But that is just my experience. A big factor in my experience is where I am located. ;-( I utilize social media every day, and I do get business and 'get found' because of it. Another HUGE factor is what I LEARN on social media sites. Not many people are willing to put in the time to even learn the different ways to use social media to their advantage, let alone write a blog post!
I agree mostly, most of my posts this last year or two have been business oriented with a few thrown in that are personal. I do my networking sites all together at certain times of day and am not usually found multiple times per day...I do think a bit of personality or personal info is fine but your point about negativity is spot on and one of the reasons I resisted having my office in THE office for so long. Now that I do I have to make sure I stay on task and target more~
There is great stuff on the Internet. I really do not like to socialize on it, but you do what you have to do.
I completely agree and in Austin the ratio seems to be that 11% of the so called active agents sell about 85% of the properties!
Jim - Rock on !!! So true. The bottom line will be that the 80 20 rule will stay in effect, seems like a fact of life, whether real estate is conducted at a major brokerage or a small mom and pop or even a virtual office. I agree with you that it is important to surround oneself with top producers and successful people in order to maximize the success ratio. I do think that internet sites can be a hang-out or even a hide-out to some folks in terms of the illusion of being busy. But it also offers a way for others to maximize thier business as well. Good stuff !
Charlottesville Real Estate - Your Trusted Broker Charles McDonald (RE/MAX Assured Properties - No one sells more Real Estate) Common sense has to rule. If it doesn't make sense, if I see no increase in closed business...why do it?
I think you are right Jim. I just joined Active Rain today and this jumped out at me. With social media being the new hot button it is easy to lose focus on what is the work that needs to be done and work for works sake (i.e. busy work updating stuff). There is a time and place for everything from small talk to laser focus. And you're right it is 93/7...everywhere. Many talk a good game....few are up for the moment!
Frank Castaldini (Coldwell Banker) I fully agree with you. This is a business. I may build relationships, but the bottom line is that I close a deal from the work.
Carla Muss-Jacobs, ABR, CEBA, e-PRO, Realtor (Principal Broker/Owner EBA Portland, LLC) LOL! This isn't the first Blog I've written on this subject.
Randall Fujinaka (Realestate-extreme,LLC) It takes a little bit of everything including topics, comments etc...
Missy Caulk-Ann Arbor- Realtor(R)- Ann Arbor Real Estate (Keller Williams-Ann Arbor) Missy I agree. Even on line not everyone will be successful. We have loads of quitters. Take a look even in AR how many profiles are inactive. People that do not have their hearts in it will join, and in a short while drop out.
Doug Maynard (Bowes and Cocks Limited, Brokerage) It is always an ongoing process.
Paul McFadden Mortgage Loan Officer Bellevue Washington Home Loans (The Legacy Group) You raise a very interesting point and perhaps nailed why social media is so popular! It is easier online because we do no thave to deal with all the rejection of the mean streets. There is a lot of rejection in real estate and many cannot take it. Online is fairly safe and the agent is physically removed from a potential client. Cold calling working expireds, knocking doors, going to the home of a for sale by owners is not an easy task. There is no real interaction eye to eye, or conversations. Online there is no verbal debate, or negative body language etc...
Susie Blackmon-Maggie Valley Waynesville Horse Person/NC Broker/Realtor (Susie Blackmon LLC) Susie, it sounds like you run your business very similar to mine. Our leads are almost exclusivley form the web! SM and Blogging has enhanced that.
Brentwood TN Real Estate/Homes - Vanessa Stalets REALTOR® (RE/MAX Elite) I think we always have to reevaluate the way we are doing business. Sometimes reading a Blog post sends me in an entirely different direction. That is a good thing.
Brentwood TN Real Estate/Homes - Vanessa Stalets REALTOR® (RE/MAX Elite) I think we always have to reevaluate the way we are doing business. Sometimes reading a Blog post sends me in an entirely different direction. That is a good thing.
Gene Riemenschneider East Contra Costa Home Sales 01492725 (Area Pro Realty People's Choice) That is what it's all about.
Russell Lewis, Broker,CLHMS,GRI (AvenueOne Properties, Austin Texas Real Estate) Russell, that really what it boils down to. A few are the real producers.
Christopher and Stephanie Somers - Realtors - Philadelphia Real Estate (Owner - RE/MAX Access) There are some incredible resources here for knowledge and information. That is why I love AR. I think that it wise to be selective in choosing those sources correctly.
Gerald Grinter (GG Insurance) First of all, welcome to Active Rain. I think you have the right perspective.
Excellent point Jim, I'm not so sure this is going to be a popular 'around the water cooler' post. Most office folks don't see themselves as time wasters. I look at it this way, what did I learn today from someone at the office? Nuthin.
Lyn Sims ~ Chicago Northwest Suburbs (Schaumburg Illinois ~ RE/MAX Suburban) I have to agree with you!
I find that social media is both a time waster and very advantageous to my business. I'm still trying to figure out how to do less of the former and more of the latter.
Christine Donovan Costa Mesa Real Estate Broker/Attorney 800-610-7253 DRE01267479 (Donovan Blatt Team - Donovan Group Realty) I liked the way you phrased that! I feel the same.! LOL!
You, sir, are stuck with an outmoded viewpoint about real estate. Blogs about nonsense work wonders with showing your human side, which is likely to help your business down the road as people learn about you and decide whether they can trust you. Of course, it has to be from an honest and sincere place, and your personality type seems, to me anyway, about being "all business" and I am sure it's hard for you to wrap your head around this new way of thinking.
Don't worry though. I am sure there are still clients out there who would prefer to work in the old-school ways.
PS: Please see my gripping blog on green beans when you get the chance! =)
Also: I am impressed with your dedication to answering comments. Wowsy!
Cedar Park TX Kyle TX Buda TX Austin TX Real Estate - call Aaron - 512-845-4204 (StepStone Realty, LLC) Thanks for your insights! FYI - I get it totally and in fact I close the bulk of my business from online, and I have lots of clients!
I like that social networking, or whatever you want to call all the websites that i'm a part of, allows me to share what an average day, week, or just life in general is for me to people who are interested.
Real Estate is all about the people! Always has been and always will be. IMO
Cheers,
Ryan Windsor (One Percent Realty) It is...people that I close a deal with.
Jim Crawford, RE/Max Greater Atlanta, Atlanta Real Estate
Hi Jim, The coffee pot crowd tend to procrastinate. Social Marketing is an attempt to meet more customers, pass on some information and close a deal. I get a good deal of information from blogs, most of it non real estate related. Technology tips, new software and some fresh points of view are the tidbits I take away from AR and many other sources.
A distant cousin recently found me on Facebook, for that I am thankful, without the Facebook account I might not have heard from her.
I tend to post to localism mostly. At AR I scan several groups and if a topic or headline grab me then I will read on. I found your posts to be informative and apprecaite your point of view. I don't agree with all you have written and those I usually don't comment on.
Live and let live! Happy Holidays!
Columbus Ga Homes, RE/MAX Champions Realty
Jim, I think social media has it's place and I enjoy reading what others have to say, much like AR. It give me new ideas and insights.
I have heard other agents and brokers say they don't go to Real Estate functions because other agents aren't going to bring them business. I'm not sure that is true. It can set up a good referral network and helps establish relationships with other agents. If you know someone in your industry and you like them as people, it will make a transaction go smoother because they want to make it work for both of you. So I do the Real Estate functions because it helps me put faces and names together and gives me an opportunity to get to know other agents. Some good working relationships have come out of those functions for me.
I also see that there is a benefit to interaction in the office. Sometimes some really good ideas come out of casual chatter. I have just learned to keep it business and try to keep it positive. It helps everyone if you work in a nice place and everyone gets along.
By the way I've been following your posts on Facebook. Good stuff.
There has been a lot of postings lately about social media being a waste of time. I think it's what you make of it. The old garbage in - garbage out scenario. The most important thing to remember about social media is that it is just another tool in the old tool box. It is only as good as the person using it. So, if you're not good at/comfortable with the social media scene, don't use it. Use something you do like. The bottom line is to promote yourself to the world so they will hire you and then promote their home to the world so it is sold, or go digging to find something for them to buy. How you do it is less important than the final result.
My broker likes to say hunt, kill and eat. Social media is just another place to hunt.
Erika Nicholson Columbus Ga Homes (RE/MAX CHAMPIONS REALTY, Columbus Ga) Thank you for your comments. This is not an attack on social media. I think it does work. I believe that websites are much more effective, but Blogging, Twitter, and Facebook all play apart in visibility of our RE image. BTW...no one has to agree with me...we all have a say!
Merry Christmas.
Sandra Paulow, Associate Broker, GRI (Aspen Properties, Inc. in Pinetop, AZ.) I'm a big believer in networking for referrals. I believe there is incredible opportunity in b2b networking via SM to facilitate this. There are also some incredible people I follow online...I use them as mentors and I learn from them.
Paul Burns (Century21 Countryside Realty Ltd.) I like that "Social media is just another place to hunt."
I remember when agents would say they have so many clients but no deals coming through. I'd ask, when was the last time you had them in your car. The answer would be, not yet, i've been emailing them and waiting for them to call. That's a waste of time and they aren't your client. We always seem to be able to easily find ways to waste our time. Social media can be a waste or a help, the problem is figuring how to make it one and not the other.
Joe Girard comes to mind...do u know him...he hlds the record from mast cars sold...13,000 in 10 years....that is 3 a day...3 cars a day...in his book...never hang around the water fountian(coffee pot) the other salesmen ain't buying a car from you
Bev and Bob Meaux - Towne Realty Group (Towne Realty Group, LLC) I agree...thre are a lot of things that can waste our time. I guess what should matter is the bottom line. Don't tell me about future business, show me your closings.