key realty a new concept a new cost a new value a new business model
TRANSCRIPT
PHASE 1 MODEL - Traditional “Business as Usual”
• Agent Listed and Sold• Broker did EVERYTHING else• Advertising, Image impact, processing of listing and sales, physical
facilities, closing department, legal adherence, errors and omissions• Control of the Market - Broker• Commissions - 50%/50%• Control Mechanisms -
Floor timeCompany signage and advertisingCentralized administrationExpensive technology
• Current Model Status - declining rapidly locally and nationwide
• Inefficient, low-productivity model with tours & floor time
Real Estate Business Model History
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PHASE 2 MODEL - “Now hold on here…”
• Agent Listed and Sold, but started to do more administration• Broker administrative functions started to decline• Advertising, Image impact, processing of listing and sales, physical
facilities, closing department, legal adherence, errors and omissions - some shifting to agent
• Control of the Market - Broker, but starting to move toward the agent• Commissions - 60%/40%, 70%/30%, 80%/20%, • Control Mechanisms - Shifting towards agent
• Company signage and advertising - Agent-based Marketing• Agent numbers on signs and ads• Agent Administration and computer systems • Current Model Status - shifting towards Phase 3,
locally and nationwide
Real Estate Business Model History
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PHASE 3 MODEL - “It’s been fun…”
• Agent-based marketing and personal marketing functions • Image impact, processing of listing and sales, physical facilities, closing
department, legal adherence - shifted to agent• Commissions - 100% commission with monthly expense• Control Mechanisms - Shifting towards agent
Phone numbers on signs and ads shifted to listing agentAgent administration and computer Development of Buyer’s agents, administrative assistants and personal agent-based marketing Agent-based websites
• Current Model Status - moving back Phase 2, marginal lead generation, costs are rising - 5%, rising fees, 100% companies are starting to look like a large traditional company
• Costs are rising, average sales price is down, sales are down and more gross income is devoted to paying the broker
Real Estate Business Model History
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• Physical Facilities - High-vacancy, underutilized, common areas• Physical Facilities - At home, virtual office, private office - no waste• Personnel - in many cases, duplication or unnecessary• Personnel - if you need it, if not, no expense and no duplicity• Closing and Adminstration - outdated, old-fashioned and unnecessary• Closing and Administration - all files faxed, electronic disbursement• Meetings and Tours - Unnecessary and company-oriented• Meetings and Tours - E-mail, our website MyKeyrealty.com, memos• Money - 15% to 50% of your income (plus franchise and other fees)• Money - $300/month, agent keeps 100% of the commissions, transaction fees,
home warranty fees, or 50%/50% to $3,600/year • Production or recruiting requirements - ???• Your business is your business, $25/month-profit-sharing• Training - Company makes an attempt• Training - Howard Brinton and Mike Ferry • Continuing Education - Some free, patchwork• Continuing Education - 4ICE.com - $149 - 30 hours• Broker role - Educator, trainer, motivator• Broker role - Compliance and disbursement
The Next Business Model…It’s about TIME!
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What is the Company about?
The Agents
Reduced Cost - to $300.00 a month
Reduced Expenses for Broker:
Closing Department Phone Numbers Physical Facilities - Minimal Virtual Document Handling External Training Management New Agents Franchise Fees
Fax/scanning base for processing
Fairness - 100 listings = 100 listings
Website as base for information & events
Showing appointments - agent/office
Profit sharing
Virtual office
Schedule - 50%/50%, or $3,600.00ATM or Debit deductions only
Mykeyrealty.com
Welcometo thefuture
of real estate Everythingyou need
A LA CARTE!
What is the Value? - We like to say WOW!
There is:
Reduced costProfit-sharing - $25.00 per month per agent referralFull-serviceIndependenceA cost-effective home for self-motivated agentsThe future of the businessGreat websiteA lot of fun and freedom
$300.00 a month
It’s about time…..
Maybe it’s time for you!