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Value is an aesthetic experience, says Krisstina Wise, broker-owner of the Austin, Texas, brokerage The GoodLife Team. It’s not just a product or service, she said, but how a brokerage makes a customer feel.
Wise and five other panelists will discuss how to make doing business in real estate “as easy as buying a latte” at Real Estate Connect New York City, which runs Jan. 16-18 at the Grand Hyatt New York. Wise will appear on an opening-day panel, “What does the industry need to do to make the ‘Latte Vision‘ happen?”
Krisstina WiseWise’s answer to that question revolves around value and her real estate raison d’etre: “To care, to make a difference.”
Customer experience, Wise says, should be a full one. An experience with a brokerage is analogous to walking into a coffee shop — it should be sensual, she said. Customers should “feel something.”
She scrubs that perspective against the 12-agent, two-office brokerage she founded in 2008 by asking questions like: What does our website look and feel like? Does our office space match our online presence? How quickly do we respond to leads? Do customers get more value than they expect?
“Real estate is about value,” Wise said. It’s not only about the quality of what customers get, she said, but also about the way they feel, which explains her brokerage’s six-point service manifesto and its clean, purple and sea green branding.
GoodLife Team branding from the brokerage’s website.
Wise spent her first 15 years as an agent with Austin-based Keller Williams Realty, one of the largest real estate franchisors in the U.S. By the time she set out on her own, she led a team of agents and was a national trainer.
Since then, The GoodLife Team has been held up as a model of the modern real estate brokerage for the transparent, innovative and forward-thinking way it operates.
In 2010, Inman News recognized The GoodLife Team as the most innovative brokerage of the year. This January, Apple profiled the brokerage for its incorporation of the iPad into its business.
In October, The GoodLife Team held an inaugural two-day conference, REiNVENTION, in Austin, that shed light on the brokerage’s inner workings, from marketing to technology to inspiration. Wise expects REiNVENTION to become a yearly event.
The conference was an opportunity to share with the real estate industry the working elements and systems of an actual working brokerage, Wise said. Sometimes it’s hard to know what practices that are taught on the conference circuit actually work, and how they work, because what’s being touted is not always what’s actually used by the person explaining a system or service.
REiNVENTION built on the momentum (and demand) from a mentor-like program Wise founded in 2010 in which she coaches and shares her insight with paying participants.
Real estate has fully entered the digital age, Wise said, and this has shifted the value propositions for agents and brokers, whether they like it or not.
“Brokerages have to get back to the basics of caring about the customer,” she said.
Providing value in a Web-based world is immensely complex, Wise said, which is why she maintains a single-minded focus on choosing technologies and systems that maximize agent productivity and client ease of use at The GoodLife Team.
She attends conferences around the country to find the best and most useful technology and systems to integrate into The GoodLife Team’s business, simplifying her agents’ lives so they can focus on serving their clients, she said.
The result, Wise said, is a six-part “G-core” real estate operating system The GoodLife Team works with:
- Salesforce. The customer relationship management system is the hub, Wise said. All leads automatically enter the program.
- Google Apps. All agents use Gmail for email, use collaborative Google calendars so everyone knows everyone else’s schedule, and Google Drive, which allows real-time collaborative sharing on brokerage documents. It’s part of a “nothing secret” way of operating, Wise said.
- Evernote. All tasks for the brokerage are managed with the cloud-based project management software; agents can check off items on their to-do lists seen by everyone else in the brokerage.
- Social media. The GoodLife Team has a Facebook business page, Twitter, YouTube and Pinterest accounts and a WordPress-powered blog that agents are encouraged to source for social media content.
- Mobile. Every agent has an iPad and this January The GoodLife Team is launching a new mobile-optimized website.
- Paperless. Last year, The GoodLife Team went completely paperless by integrating the paperless transaction management system Cartavi and e-signature platform DocuSign into its business. “Everything’s digital,” Wise said. “We have no file folders.”
Wise says she has a business philosophy of “failing forward.” Last year, The GoodLife Team went fully paperless. This year, she said, the challenge is to further simplify business operations.
“It’s a big vision,” she said, and “scary,” but “we have instances where we have three screwdrivers when only one is truly needed.”
When Wise has time to herself — which is not often, given that she’s also a wife and mother of two children — she enjoys reading the latest murder mysteries, running, and practicing the “art of doing nothing.”
Tag Archives: Armonk NY
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Builders take deep dive into buyers’ wants, needs | Armonk NY Real Estate
In my last column I said we would look at the psychographic results of a comprehensive market study by BHI Inc., a consortium of 32 of the largest production home builders in America.
You might see yourself in this study and want to move up, out, or down. Or recognize your next prospects as being in one of three market segments and make a sale you may have missed.
These are the segments and their impact on residential sales across America.
New segment: These folks say they want a new home and will not consider a resale (19 percent).
Comment: You don’t meet these, because you are not marketing to them.
Indifferent segment: Will look at both new and resale (35 percent).
Comment: You may meet these, but if you don’t qualify them for new homes, you stand a good chance of not closing the sale, or them saying ‘we decided to wait.”
Existing segment: Insists on buying an existing home, and only an existing home (46 percent).
Comment: This is your primary market.
Within these segments lie feelings, emotions, and needs far beyond a four-bedroom, three-bath home with a two-car garage, and all the other data you can add to your detail sheet.
By way of review, the study sample structure includes 984 completed surveys by shoppers who said they were committed to purchasing a home within the next 12 months, across 25 major markets. Shoppers were at least 25 years old, with a household income of $50,000 or more.
Sixty percent of this group were actively looking for a home and had:
- Met, spoken to or hired a Realtor
- Sought pre-approval for a home loan
- Visited a model home in a new homes community
- Attended a home buying seminar or had placed their home on the market.
Forty percent have taken the above actions, or have:
- Regularly looked at home listings online or in the paper
- Visited a Realtor and/or homebuilder website
- Calculated living costs as a result of a new home purchase
- Attended an open house
- Watched a TV show about local homes and real estate for sale
- Driven around the neighborhoods looking for homes for sale
Expectations and behaviors
Existing home segment (46 percent)
- Slightly younger
- More likely to be first buyer
- Planning for an increase in family size
- Drive around neighborhoods looking for homes
- Regularly look at home listings
- Most likely to use a Realtor
- Visit existing homes
- Sought pre-approval
- Bid on a home
Comment: Is it safe to assume that a large percentage of those who prefer an existing over a new home, really mean that they prefer an established neighborhood, and therefore settle for an existing home over new homes in “unestablished locations?” I think, in many cases, yes.
After all, with everything being equal, who would not prefer a new home?
This segment is large enough and important enough to probe for compromises they are willing to make to NOT buy a new home, perhaps. My guess: This is the location, location, location buyer.
New segment (19 percent)
- Slightly older
- More likely to be retired
- Own current residence
- Current residence is a new home
- Expect to pay more
- Spoke with builder
- Visit model homes
Comment: Is this segment willing to pay more and live “further out,” meaning that location, location, location is important only as it applies to the fact that the buyer can purchase new construction? If so, then location, location, location, becomes more of a macro factor than the dominant one.
Indifferent segment (35 percent)
- Mostly likely to work full-time
- Slightly more educated
- Highest incomes
- Exhibit both new home and existing shopping behaviors
Comment: OK, then. Since one out of three shoppers will purchase a new home or an existing one, this group’s motivations must be clearly defined to determine what dominant buying factors affect their preference for either.
According to the study, those who prefer new homes are more spiritual and controlling, based on their slightly higher scores to these statements:
- Spending time with my family is my top priority
- I feel children have a right to be spoiled
- I attend religious services regularly
- I am a perfectionist
- I like control over people and resources
- I like to enjoy life and don’t worry about the future
- I enjoy taking risks
Resale buyers did not lead in any of the above statements. They enjoy taking risks the least, and don’t find control over people and resources as important as those in other two segments do. They do not agree that children have a right be spoiled.
Interestingly, the “indifferents” fell between the “new” and “existing” segments. They are as environmentally conscious as those who prefer new — and are willing to pay more for it.
New and existing buyers tied with each other, with indifferents one point behind, when it comes to considering themselves creative.
New buyers were most likely to agree with the statement that, “I am typically willing to pay more for high-quality items,” followed by indifferents. Existing buyers were much less likely to agree.
Twice as many “new segment” as “existings” said they are first among their friends to try new products or services, with “indifferents” in the middle.
There are no differences among segments for general behaviors, such as:
Visited a Realtor and/or home builder website, calculated living cost, and watched a TV show on local homes and real estate for sale.
According to the BHI study, quality of construction, floor plans, maintenance costs, energy efficiency, and customization are slightly more important to those with a preference for new homes. Here are the most important or close to most important considerations for home purchase by segment.
New segment:
- Quality of construction
- Better floor plans
- Lower maintenance costs
- Energy efficiency
- Lower cost per square foot
- Ability to customize
- Architecture/overall design
Indifferent segment
- Quality of construction
- Safer neighborhood
- Larger yard or lot
Existing segment
- Safer neighborhood
- More living space
- Larger yard
- Architecture/overall design
Here’s the thing.
I keep coming back to where I have always been with one question.
If only 46 percent of home shoppers insist on a resale, isn’t it time agents become trained to qualify all prospects for new homes and how to find them?
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Armonk Sales up 16% – Prices down 15% | RobReportBlogArmonk NY Real Estate Report – last six months
2012
50 homes sold
$890,000 median sales price
$150,000 low
$3,753,750 high
3479 ave. size
$329 ave. price per foot
196 ave. days on market
93.66% ave. sold to ask price
$1,136,011 ave. sold price
Housing Prices Keep Slow, Steady Climb Up: Case-Shiller | Armonk Real Estate
Home prices increased in September in most major U.S. cities, more evidence of a housing recovery that is providing a lift to the fragile economy.
The Standard & Poor’s/Case Shiller national index measuring prices in 20 cities rose 3 percent in September compared with the same month a year ago. Prices also gained 3.6 percent in the July-September quarter compared with the same quarter in 2011. (Read More: Yes, Housing Starts Surge, but Rentals Are the Drivers)
Across the nation, prices increased in 18 of 20 cities.
Phoenix prices jumped 20.4 percent over that stretch to lead all cities. Prices in Atlanta showed a modest 0.1 percent increase, ending 26 straight consecutive year-over-year declines.
Prices also rose in September from August in 13 cities. Five metro regions posted declines, and two were unchanged. Monthly prices are not seasonally adjusted.










