of real estate - Keller Williams Realty

kwCover StoryGAMECHANGINGTIMESAVINGRESULTSMAKINGFUTUREYOUROF REAL ESTATETECHNOLOGYBy Gary Keller, co-founder and chairman, Keller Williams RealtyKeller Williams Realty has tended to have a healthyskepticism of the role of Internet technology in real estate,and it’s not because we don’t get technology. We get it, andwe know how to get it right. But we also get that nearly allof the technology companies that have arrived on the scenein the past decade or so – or for that matter, the Internetbasedinitiatives of other international franchise companies –have not been designed to lift up the real estate agent. In theearly 1990s, predictions ran rampant that the Internet wouldget rid of the “middleman” – putting real estate agents outof business. Technology companies have spent hundreds ofmillions of dollars trying to disenfranchise real estate agentsand positioning us as more of a functionary than a fiduciary.There’s only so much money in the transaction, and for themost part, other technology players that have shown up havebeen after a cut of your commission.Keller Williams Realty has no other agenda in the Internetworld than to support our agents in their success. The onlyInternet model that interests us is one that lifts the agent upas a fiduciary and ties in with our philosophy that real estateis a local business and the agent is the brand.We never believed that the Internet would dismantle yourbusiness or relegate us to a lesser role. In fact, as more andmore consumers rely on the Internet to start their homesearch – 90 percent according to the National Association ofREALTORS® most recent survey – the discounters’ share ofthe market has consistently decreased – from 3.1 percent in2005 to 1.6 percent in 2009. There’s, of course a good reasonfor that. Homes listed with full-service brokers consistentlysell for a higher price and in less time than homes listed withdiscounters, and the gap continues to widen. In 2009, theratio of the sales price to the list price was 16 percent higher,on average, for clients who listed with full-service brokers.Let there be no doubt that among full-service real estateagents, you have the upper hand. You have access to thebest education and coaching, a supportive culture, wealthbuildingopportunities that keep you in the game at a highlevel, and absolutely the best technology. And eEdge standsto catapult your competitive advantage to an entirely newlevel.AGENT INSPIRED, AGENT LEDThe eEdge represents the next step in a long history ofagent-lead technological initiatives. Back in 1999, we setout to ensure that you’d have your own consumer-facingWebsite that was customized to your brand, and that yourpresence in the online world would be constantly refined.That initiative was called eAgentC (shorthand for ElectronicAgent Consortium), and carried with it a per-agent monthlyfee that hasn't risen above $10 in over a decade.Eleven years later, the eEdge began to take shape when ourcompany’s Agent Technology Council (ATC), which is madeup of our top technology-minded agents in the field, cameto us with another request: a cohesive, integrated solutionto every aspect of running a real estate business – from themoment they receive a lead, through the close and then backinto a system for staying in touch. They envisioned one,paperless loop for lead management, contact management,marketing, and transaction management.The ATC, together with our IT staff got to workidentifying the top providers, asked for access to the besttechnology and worked out a process flow in which thevarious systems are capable of integrating with each other. Itwas a matter of leveraging our collective voice and wisdomand it turns out, when you are 80,000 associates strong,people listen.We now have the clout to change the industry.During October and November, we presented the concept(see accompanying chart) and the needed $15 per-agentmonthly fee to fund it, to all of our market centers’ ALCsthroughout North America. The result was a healthy doseof high-minded debate, lots of questions, clarification andultimately, an enthusiastic “YES.” Phase 1 of eEdge is slatedto launch at Family Reunion 2011.We are now at a timely, groundbreaking place in thehistory of our relationship with you. We have youragreement, and we are moving forward.The eEdge is a journey that embodies everything KellerWilliams Realty stands for as a company, and as such onethat promises to lift you up and power your business to newheights. kw6 outfrontNov./Dec. 2010 • vol. 7 no. 6Keller Williams Realty