Pygmalion, My Fair Lady and now introducing…Operation: Agent Rockstar!
In 1913 George Bernard Shaw wrote his classic play Pygmalion about how a small town unfortunate woman can become a refined socialite with the right tutoring and training. in 1964 My Fair Lady won 8 Academy Awards bringing Shaw’s play to the silver screen.
While we thought the Pygmalion Realtor, or My Fair Realtor might shound like appropriate names for our little experiment, we have chosen Operation: Agent Rockstar.
Why, because this is the new millennium. We want our Eliza to be a Web 2.0, RE.net superstar. We also want to have a great deal of fun and we know the market demographic we are going after probably doesnt know the story of Pygmalion or My Fair Lady.
So just what is Operation: Agent Rockstar? Well we are going to take a complete real estate unknown who has absolutely no experience in the real estate business, surround her with a dream team of real estate and marketing professionals and turn her into a rockstar real estate agent.
Over the past two months we have been asking…no pleading with real estate agents to explain to the general public, what is it that makes their services so valuable. We also have asked them to justify their commission. Neither question has been answered with any sort of concrete validity.
We also have read many of the studies that rank real estate agents as basically the worst profession and one that the consumer has little if any trust, respect or credibility in.
We constantly read the whiny musings of many Realtors on real estate related social networks as to how the consumer just does not understand all that agents do. In fact one agent actually said that the public perception of real estate agents is wrong. Yes, she actually said the consumer was wrong.
So in an effort to show the public that there are some very credible and professional real estate agents out there, and to show the public what value a real estate agent really has in a transaction, we have launched Operation: Agent Rockstar. This experiment will also serve to humble some of the high society (i.e. nose in the air , over-inflated sense of self-worth) real estate agents we have run into that it’s really not all that difficult to be a real estate agent nor that hard to be true real estate professional.
How do we accomplish this:
1. First, we identify a candidate, which we have. Lindsay our producer has agreed to be our Eliza and will be entering her licensing class for the State of Florida on March 24, 2008. Lindsay, while quite bright, has no prior real estate industry experience. Just 26, Lindsay also has not had any prior business experience or marketing experience.
2. We need to surround Lindsay with the Real Estate Dream Team to ensure her rapid ascent to real estate rockstar status. So here is her current dream team which we know will be growing:
Blogging Coach: Greg Swan -Greg is the owner of BloodHound Realty and the Editor of one of the top real estate blogs in the real estate blogosphere. Greg is going to show Lindsay the ins and outs of writing articles that matter and that which the public want to read.
Blog Developer: Mary McKnight -Mary is the owner of Rsspieces, the ultimate blogging and instructional platform for Realtors. Mary is to blog development as Ferrari is to cars. Mary will show Lindsay how to develop a top ranked blog. Yes, we are all “Google Pandering Ho’s” and Mary is the best for showing us how to DOMINATE the search engines for real estate queries.
Financial Consultant: Brian Brady -Brian is America’s #1 Mortgage Broker and he will be Lindsay’s go to guy for information on the best mortgage products to offer her clients. All of Lindsay’s loans will be exclusively brokered with Brian and his professional and experienced staff. Brian will also be a contributing author on Lindsay’s blog continually informing the public of important mortgage related news.
Technical Consultant: Stefan Swanpoel -Stefan, the author of the pre-eminent book on real estate trends and data, RE Trends, will provide Lindsay with updated information on what is going on in the world of real estate so we can manage her growth and make changes and adjustments to capitalize on the current influences, fluctuations and nuances in the marketplace.
Real Estate Agent Development: Laurie Manny -Laurie, operates what is arguably the real estate industry’s top real estate blog focused on selling homes. All of the help of this Dream Team goes for naught if we can’t convert the exposure and leads into sales. Laurie can show Lindsay what to do with her leads and how to capture the business this experiment will provide. bottom line if you want to create a new real estate rockstar you have to turn to one who is already on stage. There are very few real estate rockstars and Laurie is definitely one of them.
Legal Advice: Erik Wesoloski : Erik owns one of the top real estate related law firms in South Florida and he will make sure Lindsay is in complete compliance of all applicable laws and will also advise her how to take advantage of the abundant foreclosure market here in South Florida.
Marketing Direction: The B&B Crew of course…we here at Real Estate Radio USA will be marketing the heck out of our own little rockstar and we are not going to hold back. Within a month she is going to be known around the world. We have our marketing plan in place and right out of the gate were going to make sure she makes an impact in South Florida right away. We know she will get major media exposure, our job is to make it massive media exposure. You know we’re going to try.
We’re sure this real estate Dream Team will be added to in the coming week as more of our invitations are accepted. There’s no telling where this is headed but one thing’s for sure, Lindsay is about to be one popular woman.
So for now, you have been given a glimpse of Operation: Agent Rockstar. In the very near future please look for updates on Lindsay’s progress. She will be writing ongoing blog posts about her rockstar journey beginning with her classroom training at our local real estate school. We’ll also have some video and on air interviews about her quest to be the next real estate rockstar.
Some agents think we like to bash Realtors. They could not be more wrong. We love this industry and we love being associated with some of the best professionals in the real estate industry.
What we have a problem with is those who feel that this business is so tough to do and that their commissions are justified for doing nothing. We, and the consumer, demand value and that’s what Operation: Agent Rockstar is all about.
We believe a professional real estate agent is needed in the homebuying transaction but in today’s world that need is being challenged. Unfortunately that challenge is being met with fear and anger by most real estate agents.
The Internet is here to stay. Life in the real estate industry has changed as we know it and the genie is not going back into the bottle. Resistance to change is unprofessionally futile.
We want to give the consumer what it is they desire. We want to obtain permission from the consumer to serve them in the manner they want to be served.
We are going to tear down as many walls as we can. We are not going to fear “disintermediation” but rather utilize it as an opportunity to thrive in a culture of transparency..and we’re going to have a whole lot of fun doing it.
We launched our radio show under the auspices of revolution. It is obvious that the revolution is now here.
Want to join us?
CAN’T WAIT! I WELCOME THE CHALLENGE!!!!!!!!
B&B Crew,
This is an awesome concept ! The team you have assembled will clearly bring her much success. This should prove that a business plan carried out correctly in a web 2.0 environment could bring even a novice much success. Looking forward to seeing if this concept can be duplicated and of course at what price? I personally agree that you have been tough on agents, and I’m very glad that you are providing the marketing guidance that is necessary in this changing environment. We as an industry must change to assure our livelihood. Looking forward to following Lindsay’s progress. Thanks.
The outcome is predictable.
Hello Jeff…and what would that prediction be?
Brilliant. Regardless of the outcome, I look forward to her candid views and opinions throughout the process.
Lindsay, wishing you all the best in your great adventure! I have no doubt you would do well no matter what you chose to do. You will never be bored! I am sure you have already seen enough to know that. Good luck in school. I have a tip for you for school…speed, to keep you awake. Just kidding. I will be keeping posted on your progress. Go get ‘em.
I can’t wait to watch this unfold. I definitely think with the right team/tools (the above ARE definitely THE right ones) Lindsay will be VERY successful. Good luck!
Nice…I can’t wait to hear about Lindsay’s progress and success.
How can she fail? Seriously, Lindsay will walk across that stage, In Phoenix, unveiled as the newest real estate agent, In Florida. In 2009? Lindsay will walk out on the stage (at the Phoenix Convention Center), TEACHING at Unchained.
The Shinz…what a great opportunity! I’m sure with that smile and your sticktuitiveness you will be a great sucsess! After while I’m going to start asking you for tips on how to sell my listings here in Seattle! I wish you the best of luck and I will be following your progress. Don’t forget about “cap rates” it’s a dead give away as a rookie if someone asks you! One other questions…do you get 100% commission?
Thanks for all of your support!! I’m so lucky to be given this opportunity!
No matter what happens in this entire experiment, I hope that Lindsay will understand and appreciate the nature of this opportunity. We are talking about something that NO OTHER REALTOR IN AMERICA can do. There is bound to be some jealousy from other agents once people learn about “her team.” Humility will and genuine appreciation will go a long way.
What fun! Can’t wait to learn from Lindsay and her dream team.
Break a leg!
Your question
Over the past two months we have been asking…no pleading with real estate agents to explain to the general public, what is it that makes their services so valuable. We also have asked them to justify their commission. Neither question has been answered with any sort of concrete validity.
To create an agent to figure it out you need to employ
A Blogging Coach, a Blog Developer, A Technical Consultant, Real Estate Agent Development, Legal Advice, Marketing Direction. Let’s not forget a working knowledge of tax implications (seek a CPA for final answers). How about negotiating contracts. How about not getting paid till the deal is done, that little tidbit is what seperates the wannabes for the real deal.
So here is what I posted on The Inman Blog from an article called-
Why use an agent? Age-old question attracts techies
Real Estate for the most part is an offline transaction. Looking online for property or for comparable data is one thing. Admittedly most Realtors are not very tech savvy.
First I want to make a distinction between your friend that just got a license and a seasoned professional there is no comparison.
I think the emotional factor is where buyers and sellers lose the ability to finish the deal. I am NOT saying that about all people and all transactions.
Real Estate transactions usually have a lot of emotions before the real estate ever enters in the picture.
For example- Marriage, Divorce, Death, Birth, Debt, Job Transfer, Lost a Job… I don’t know what percentage of transactions that those items encompass but based on my experience a lot.
When good folks are involved in those circumstances they are in need of a reliable and an experienced agent to help them make decisions and negotiate. They can be very vulnerable and become shark bait. The investment seminars that sell tapes and programs teach buyers to seek out this type of seller.
Then there is the selling and buying of another home. That process can be overwhelming for agents let alone a family trying to do it in their spare time. Combine that with the financial decisions that are being made. Take a family that has a total gross income of $90,000. They are selling a home for $200,000 and buying another for $350,000. Let’s say the $90,000 nets $7,500 per month, they are now involved in $550,000 worth of transactions. That is almost 75 times their normal financial comfort zone. Combine all that with moving a family and you have a lot of emotions. Not just the one family, but sometimes these transactions have a domino of 4, 5 even 6 families. This is where a well seasoned agent shines.
So in summary you don’t need an agent to sell or buy a home. But like accountants, attorneys or a financial advisors, the GOOD ONES don’t cost money they make you money.
Wow! I wish you were in my area. I’m a seasoned female, but not a seasoned broker. Having given up my good Hawaii job to move, by myself, to NC and get my RE license, my challenges are a tiny bit unique in that I have no friend/family/client base. I’m at the end of year one.
Please look at my blogging website (almost 6 mos old and built by the Tomato guys) and see the market reports I am doing (no one else does them in my area). It’s a great way for me to set myself apart.
Coaching is next.
Susie Blackmon
Count me in! This real estate revolution has been long overdue. I attended Bloodhoundblog Unchained this past May so I’ve met Greg, Brian, Mary, and Laurie. Good luck Lindsay!