Comments on: Who is He…What does He Want? http://realonomics.net/2007/06/who-is-hewhat-does-he-want/ real estate business models in the consumer-centric era Wed, 20 Aug 2008 16:35:13 +0000 http://wordpress.org/?v=2.6 By: Kevin Seney http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14674 Kevin Seney Wed, 12 Mar 2008 22:06:52 +0000 http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14674 We recently hired a "blogging coach" for our agents and have jumped onto City Blog USA, in each of our markets. Our goal is ZERO traditional media advertising. Sorry Homes & Land... Read the "Purple Cow" by Seth Godin. I also had an interesting meeting yesterday with a very high-end, web developer. He is developing a new WEB TOOL for Bug! that is AMAZING! It is a totally new "Consumer Centric" FREE service, devised to drive traffic to our site, with a completely new approach. It is far beyond providing "home search" "valuations" or "property reports" etc. Our focus: "how can we better serve our customers" besides just cutting commissions (LESS for LESS) or providing traditional services like everyone else (MORE for MORE). Consumers want MORE for LESS and they want control of the process. Thank you for the tip on this site: http://paperlesstools.com/ Market pressures are forcing change, and we are riding on the front of the wave. Good work. Kevin Seney, Bug! Realty USA We recently hired a “blogging coach” for our agents and have jumped onto City Blog USA, in each of our markets. Our goal is ZERO traditional media advertising. Sorry Homes & Land…

Read the “Purple Cow” by Seth Godin.

I also had an interesting meeting yesterday with a very high-end, web developer. He is developing a new WEB TOOL for Bug! that is AMAZING!

It is a totally new “Consumer Centric” FREE service, devised to drive traffic to our site, with a completely new approach. It is far beyond providing “home search” “valuations” or “property reports” etc.

Our focus: “how can we better serve our customers” besides just cutting commissions (LESS for LESS) or providing traditional services like everyone else (MORE for MORE).

Consumers want MORE for LESS and they want control of the process.

Thank you for the tip on this site:

http://paperlesstools.com/

Market pressures are forcing change, and we are riding on the front of the wave.

Good work.

Kevin Seney, Bug! Realty USA

]]> By: REALonomics http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14559 REALonomics Wed, 12 Mar 2008 00:24:22 +0000 http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14559 There is a pervasive sense among truth-seekers within the industry that we are sick, perhaps very ill. The huge need within our industry is to create what we have termed "<em>New Model Math</em>" that brings fundamental change to not only the means by which we create revenue but also the types of ways we create revenue. Profit for Broker/Owners may have become the great illusion if that is the sole stream of income from which we build ROI. </br> The "New Model Math" does not simply consist of our attempt to close more transactions with an increase in retained company dollar, we have already lost that battle. </br> Our vision of "New Model Math" is to utilize the components that make up transactions, such as agents, markets, property information, core services, paperless tools (www.PaperlessTools.com), transaction management, transparent online relationships, such as www.CityBlogUSA.com and others, to locate new revenue and extract it as a result of opting in to a total macro-market strategy that is consumer-centric, rather than holding on to our vertical limited markets with an ever increasing myopia that will inevitably destroy owners. </br> Many Broker/Owners are like noble captains of ships that cannot survive the storms. Our sailors have already abandoned ship but we, like old, tired captains are hanging on, hoping to save a ship no one wants, while the new shoreline of opportunity is just off the bow of our ship. </br> There is no dispair among the thinkers who know we are entering a door to perhaps the greatest set of opportunities in the history of the real estate industry. The "<em>Quest for Model Perfect</em>" (another of our terms) is just that, a journey to improve our business models to create the transparent relevancy desired by our client, the consumer. -Donald Teel, REALonomics There is a pervasive sense among truth-seekers within the industry that we are sick, perhaps very ill. The huge need within our industry is to create what we have termed “New Model Math” that brings fundamental change to not only the means by which we create revenue but also the types of ways we create revenue. Profit for Broker/Owners may have become the great illusion if that is the sole stream of income from which we build ROI.

The “New Model Math” does not simply consist of our attempt to close more transactions with an increase in retained company dollar, we have already lost that battle.

Our vision of “New Model Math” is to utilize the components that make up transactions, such as agents, markets, property information, core services, paperless tools (www.PaperlessTools.com), transaction management, transparent online relationships, such as http://www.CityBlogUSA.com and others, to locate new revenue and extract it as a result of opting in to a total macro-market strategy that is consumer-centric, rather than holding on to our vertical limited markets with an ever increasing myopia that will inevitably destroy owners.

Many Broker/Owners are like noble captains of ships that cannot survive the storms. Our sailors have already abandoned ship but we, like old, tired captains are hanging on, hoping to save a ship no one wants, while the new shoreline of opportunity is just off the bow of our ship.

There is no dispair among the thinkers who know we are entering a door to perhaps the greatest set of opportunities in the history of the real estate industry. The “Quest for Model Perfect” (another of our terms) is just that, a journey to improve our business models to create the transparent relevancy desired by our client, the consumer. -Donald Teel, REALonomics

]]> By: Chris Siow http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14533 Chris Siow Tue, 11 Mar 2008 22:08:41 +0000 http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14533 The real estate industry grew too big and too fat in the past 20 years. It has forgotten the basics that got them here. People in the industry has become ego oriented and not consumer oriented. Large offices, expensive cars, gold watches, designer suits, have become the standard requirement. Bug is going back to the old basics and adding today's essentials to our business model. Looking froward to see Bug covering all 50 states. The real estate industry grew too big and too fat in the past 20 years. It has forgotten the basics that got them here. People in the industry has become ego oriented and not consumer oriented.
Large offices, expensive cars, gold watches, designer suits, have become the standard requirement. Bug is going back to the old basics and adding today’s essentials to our business model. Looking froward to see Bug covering all 50 states.

]]> By: Kevin Seney http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14447 Kevin Seney Tue, 11 Mar 2008 16:04:49 +0000 http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14447 What we are witnessing is a REVOLUTION! Real Estate is being "reinvented" as we speak. The days of the "big box office," and the "desk rental model" are over. The big companies lost touch with the consumer. The model is outmoded and outdated. Next we have a valuation melt down. The consumer is looking for answers, and brokers are running for cover. Do you think the guy who is losing his home to foreclosure, wants to hire "Mr. Lexus" again? I would not want my name on a 5 year lease for 10,000 square feet of cubicles right now! Economic forces are powerful. Out of the "Dot Com Bust" came Web 2.0, and many, much more useful solutions, and powerful brands. We just returned from our First Annual Franchise Owners Retreat in Napa CA. It was an amazing experience for our group. Our energy level and excitement reflected the vision that we share, as we open the door to a totally new concept for delivering real estate services more efficiently to the consumer. I remember growing up in a small town in Wyoming. My best friends dad was a Broker. He worked out of the house, yet he was the top agent town. His tools were his notebook (his MLS), his station wagon (his field office), and his neighbors (his marketing system). He never advertised. Never needed to... He was always there, visible to all, not hiding in an office, sending out 10,000 postcards to strangers. We are headed in the same direction. We work simply, honestly and openly in the community, in a very visible way. It works. Our model is scalable, and each new agent we add to our team, expands our marketing system, exponentially. When people question our "car choice" we say "what car?" Oh, you mean my "bill board marketing system!" The best part? It is FREE! When your ship is sinking, it is hard to imagine what really went wrong. It worked for so long. Here we are, sitting in our little row boat, watching as the Titanic goes down... Good work Don! Kevin Seney, Founder & CEO Bug! Realty USA, Inc. www.bugrealtyblog.com What we are witnessing is a REVOLUTION!

Real Estate is being “reinvented” as we speak.

The days of the “big box office,” and the “desk rental model” are over. The big companies lost touch with the consumer. The model is outmoded and outdated.

Next we have a valuation melt down. The consumer is looking for answers, and brokers are running for cover. Do you think the guy who is losing his home to foreclosure, wants to hire “Mr. Lexus” again?

I would not want my name on a 5 year lease for 10,000 square feet of cubicles right now!

Economic forces are powerful.

Out of the “Dot Com Bust” came Web 2.0, and many, much more useful solutions, and powerful brands.

We just returned from our First Annual Franchise Owners Retreat in Napa CA. It was an amazing experience for our group. Our energy level and excitement reflected the vision that we share, as we open the door to a totally new concept for delivering real estate services more efficiently to the consumer.

I remember growing up in a small town in Wyoming. My best friends dad was a Broker. He worked out of the house, yet he was the top agent town. His tools were his notebook (his MLS), his station wagon (his field office), and his neighbors (his marketing system). He never advertised. Never needed to… He was always there, visible to all, not hiding in an office, sending out 10,000 postcards to strangers.

We are headed in the same direction.

We work simply, honestly and openly in the community, in a very visible way. It works.

Our model is scalable, and each new agent we add to our team, expands our marketing system, exponentially.

When people question our “car choice” we say “what car?” Oh, you mean my “bill board marketing system!”

The best part? It is FREE!

When your ship is sinking, it is hard to imagine what really went wrong. It worked for so long.

Here we are, sitting in our little row boat, watching as the Titanic goes down…

Good work Don!

Kevin Seney, Founder & CEO
Bug! Realty USA, Inc.
http://www.bugrealtyblog.com

]]> By: willie stanley http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14432 willie stanley Tue, 11 Mar 2008 15:15:04 +0000 http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14432 As a Bug! agent I could not agree more. There are so many REMX, CB, C21 agents leaving because of the "old school" attitude.....some are just giving up...and some are coming over to the "smaller" RE companys, like us. I love this Bug concept, "no frills", kinda like the Southwest Airlines of the RE world...we do the same thing....just cost you less... As a Bug! agent I could not agree more. There are so many REMX, CB, C21 agents leaving because of the “old school” attitude…..some are just giving up…and some are coming over to the “smaller” RE companys, like us. I love this Bug concept, “no frills”, kinda like the Southwest Airlines of the RE world…we do the same thing….just cost you less…

]]> By: Patti Barrett http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14429 Patti Barrett Tue, 11 Mar 2008 15:05:17 +0000 http://realonomics.net/2007/06/who-is-hewhat-does-he-want/#comment-14429 As an owner of a BUG! Franchise, I totally agree with you. Our new franchise, often sneered at by the "suits", promotes less cost and ease of movement as our movement physically is with small, efficient BUG! ( VW) cars, basic cost cutters by themselves, virtual offices, instant communication with the mls with our I phones and computers in the car. We can afford to have instant communication at less cost. Our philosophy puts us into the comnnunity with our children and grand children, as many of us naturally support our children. Young realtors with children actually drive their offices to the events...the BUG! goes to school, to the games, to the sk8 park and picks up the future buyers and makes contact with their parents. We have warm calls all the time, driving the BUG!. With that advertising, driving us around, we cut our costs. Granted we are a young company and probably have more promotion to do to grow, but we do not incur the same cost basis as the big boys. We are becoming a force with the friendly concept of our cars. Passing on the LACK of other advertising costs to our consumers. I look forward to my future in the Bug! franchise, being able to get back to reality. Mind you, I was a BIG C-21 fan and worked for them for years....no more, friendly, efficient and cost effective is the model for the future, and BUG! is the only company I have found that fits that model. My company is the first one in Colorado and I expect to see many more BUG! franchises here as the movement grows to join the future and loose the past. As an owner of a BUG! Franchise, I totally agree with you. Our new franchise, often sneered at by the “suits”, promotes less cost and ease of movement as our movement physically is with small, efficient BUG! ( VW) cars, basic cost cutters by themselves, virtual offices, instant communication with the mls with our I phones and computers in the car. We can afford to have instant communication at less cost. Our philosophy puts us into the comnnunity with our children and grand children, as many of us naturally support our children. Young realtors with children actually drive their offices to the events…the BUG! goes to school, to the games, to the sk8 park and picks up the future buyers and makes contact with their parents. We have warm calls all the time, driving the BUG!. With that advertising, driving us around, we cut our costs. Granted we are a young company and probably have more promotion to do to grow, but we do not incur the same cost basis as the big boys. We are becoming a force with the friendly concept of our cars. Passing on the LACK of other advertising costs to our consumers. I look forward to my future in the Bug! franchise, being able to get back to reality. Mind you, I was a BIG C-21 fan and worked for them for years….no more, friendly, efficient and cost effective is the model for the future, and BUG! is the only company I have found that fits that model. My company is the first one in Colorado and I expect to see many more BUG! franchises here as the movement grows to join the future and loose the past.

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