So you can imagine that I was a kid in a candy store last week when Facebook launched Places. Places allows you to check in using a Facebook mobile application to a location and even tag the friends you are with. Since more people use Facebook then Foursquare, this is really big news for the millions of somewhat reasonable people who will not be able to resist the temptation to shout out to their social network, “Here I am!”

A single friend shared with me recently that he felt quite complimented when another female friend told him he would make a great husband. His chest puffed out a little as he said thanks, and asked what made her think that. She responded that his wife would never have to wonder where he was because he was always checking in online and broadcasting it. The initial warmth of the perceived compliment along with his inflated chest deflated a bit. However, the reality is a quick skim of your Facebook newsfeed will result in an instant knowing of the whereabouts of several of your friends.

This new found transparency offered by location-based technologies does have drawbacks. For example, the online world has been buzzing over the ability Facebook gave the Places feature to check your friends in somewhere with you without their explicit approval or permission. The concern is that your friend doesn’t actually have to be there to be tagged there. We can all imagine the headlines as we learn of a couple who split up because the guy’s friends checked him into “places” he shouldn’t have been and the spouse didn’t believe he wasn’t there. Fun times!

By the way, you might want to visit your privacy settings in Facebook, click customize settings and disable “friends can check me into places” if you have some friends with skewed senses of humor.

Another task to consider is claiming your place (or business) on Facebook Places. If you have a brick and mortar location, chances are that before long,  someone is going to check in there. You should claim your Place and ensure that the information about your business is accurate by becoming the administrator of your location. Once you claim the location of your business, it automatically gets a Facebook page.

The cage match between Foursquare and Facebook is on. Fueled by the millions of Americans who just can’t resist sharing their whereabouts with everyone on their social network. It’s amazing how our boundaries and definition of privacy keeps evolving.

This year was no exception. The people, knowledge, enthusiasm and genuine excitement for the real estate industry found here is infectious. From interesting speakers like Robert Scoble, Kara Swisher and Cathy Brooks to connecting with lots of fabulous people at our Real Estate in Technocolor booth to the launch of the BHGRE Vook to Sherry Chris being named Innovator of the Year. There was no shortage of bright spots.

One of the most memorable highlights was the unveiling of the Beta Brokerage project. Since the inception of BHGRE in the fall of 2007, we’ve been convinced and intrigued by what most industry practitioners call alternative business models. What we know is that the “traditional” business model is no longer effective for today’s broker/owner or agent. What we are fascinated by are the various business models being explored by courageous entrepreneurs in our industry.

So earlier this year, we started to research some of these interesting real estate innovators. Not so much looking for answers, but looking for options and opportunities for profitability and win-win relationships between the broker, agent and consumer. Our appetite was not just to gain this information for ourselves and BHGRE, but to share it with the industry, as we believe that collaboration will strengthen all of our respective organizations.

That’s how Beta Brokerage was born. We currently have 24 companies listed on our directory. From east coast to west coast. From companies with a small number of agents to a large number. Virtual to bricks and mortar.

We’ve been asked by several people why we didn’t include BHGRE companies on this initial list. It’s not because we don’t have many companies employing unique business models, but because we wanted to remove any perceived bias towards our own franchisees.

We’ve also been asked, “what’s next?” We will continue to grow and add to the Beta Brokerage directory. We have several companies in the cue now that you will see added over the upcoming weeks.

If you have a company or know of an interesting real estate brokerage that you feel should be included,  just send us the info.

A couple of thoughts on the power of  collaboration:

“Synergy: The combined effect of individuals in collaboration that exceeds the sum of their individual effects.”
Stephen R. Covey

“Someone outside your organization today knows how to answer your specific question, solve your specific problem or take advantage of your current opportunity better than you do. You need to find them and find a way to work collaboratively and productively with them.”
lan Lafley, CEO Proctor & Gamble

Fast forward to the week before Inman in 2009. The team was busy putting the finishing touches on a project we coined “Next Generation Real Estate Brokerage,” which Sherry Chris unveiled as the next generation project on the main stage of the conference.. Over the last year, there have been dozens and dozens of blogs, hundreds of Tweets and a countless number of conversations in the industry about what the future of the real estate brokerage model should and shouldn’t be. This is exactly what we had hoped for.

There are several highlights from 2009. One of which was attending with several of our franchisees. In twelve months we had grown from zero to over 2000 agents. We were on our way to fulfilling the vision of the Better Homes and Gardens Real Estate brand.

And here we are the week before Inman 2010. We have lots of great stuff planned this year. We continue to stay committed to sharing and learning with our colleagues in the industry.

We start the week off at the first ever Agent Reboot on Monday. Sherry will be discussing life style branding strategies for agents.

I’m honored to be facilitating the Brokers Summit on Tuesday morning. We have gathered some of the brightest and most innovative operators in the business together for a morning that promises to be full of ideas and insights.

Sherry will hit the main stage on Wednesday as part of a Leaders panel and again on Thursday to unveil the next chapter in Next Generation Brokerage. We’ve been working hard on bringing some new and interesting perspectives on the future of the industry.

In between all that, we’ll be hanging out at our booth in the trade show, in the Premium Lounge and if you can’t find us at either of those locations search for the nearest Starbucks! We’ll need the caffeine.

We hope to see you there. But if you can’t be there in person, please follow along with us here, on Twitter.com/BHGRealEstate and on Facebook.com/BHGRealEstate.

NAR estimates that as many of 180,000 buyers along with the thousands of agents who worked with them may not see the keys to their new home or a commission check. These buyers had an accepted offer in place prior to the April 30th deadline of the HomeBuyer Tax Credit but may not be able to close that transaction by the June 30th deadline. Despite the efforts of many people, lawmakers failed last week to vote for the bill that would extend the closing from June 30th to Sept 30th.

This combined with the discouraging economic news on new construction and mortgage applications have been a frank reminder that although the first part 2010 gave us hope, we still have a long road ahead. There is still a slim chance that an extension on the closing date for the tax credit may happen. We’ll know more as this week plays out.

My first broker used to tell all his agents “Don’t spend your commission checks until you have them in hand.” This latest turn of events has certainly reinforced that advice.

Instead think of a triangle. What makes this shape special is that it’s three sides are all the same distance. I view the relationship between broker, agent and consumer like a triangle. In other words, equal.

The consumer is on the top and both brokers and agents should be focusing on meeting the consumer’s needs in the best way possible. At the base of the triangle is the broker at one side and the agent on the other. Both need to bring equal value to each other and both deserve to be rewarded for that value.

We saw this relationship get out of balance starting back in the late 90′s. With agent centric business models being adopted by brokerages, the agents kept more and more of the commission dollars. Brokers began offering fewer and fewer services and tools. However, agents expected certain things from their brokers and were often disappointed. The broker and the agent were in a bad marriage with each other. They shared the same house but had stopped communicating and started sleeping in separate bedrooms.

Then the market downturn hit. That combined with the emergence of technology and the changing needs of today’s consumer left the agent and the broker looking at each other agreeing that it was time to work things out.

And that leads us to today. The successful brokers and agents I see across the country have recommitted to each other. They have found a place where they are each offering a mutually beneficial value proposition and collectively as a team they are focusing on delivering exceptional real estate experiences to the consumer.

Brokers and agents are like parents who should be working together to provide the best possible environments for their kids (i.e. the consumer). Isn’t it time we worked as a team?

They identified 5 key attributes.

1. Strong Leadership

Leadership was determined to be the single greatest predictor of success.

2. Ability to attract and retain talent

Research conducted by Real Trends concludes there is a direct correlation between an increase in closed sides and an increase in the number of sales associates.

3. Focus on your model

There is no evidence that one business model is any better than another. What is key is choosing your business model, committing to it and building value around it. Companies that try to be all things to all people ultimately disappoint themselves and others. Five types of business models were identified:

• Graduated commission plans
• High commission concept
• Capped company dollar
• “Freedom shops”
• Online and/or discount models

An interesting observation made was that the more commission plans a company has seems to directly relate to less company dollar. In other words, more plans equals fewer company dollars. The advice given was to keep commission plans simple with limited options that stay true to your operating model and value proposition.

4. Customer Service Focus

We have been focusing the last 10 years on creating favorable online impressions with our clients. However, when human contact is disappointing, that favorable impression is lost. Truly successful tools and services recognize that customers demand responsiveness. We have to do a better job at customer service if we want to be a great real estate firm.

5. Ancillary services are part of the core offering, not add ons

Firms can no longer view mortgage, title, escrow and insurance as add ons. They are necessary core competencies to the successful real estate firm.

I think these 5 attributes make a great score card for any real estate broker to do a self-evaluation on their business. How would you rate your firm in these areas? How would your agents rate you?

Thanks to the REAL Trends team for a great conference.

If you’ve ever been involved in a transition or any type of fundamental shift in operating practices at a real estate office you know that this is not an easy task. There are hundreds of details to be considered and managed. We literally have dozens of checklists covering everything from legal tasks, to marketing, to technology, to announcement day and more. But those are just details. Ordering business cards, lawn signs, converting websites and marketing materials are tasks that the people involved are experts at doing. They are critical to the success of the transition and take lots of time, but are relatively straight forward.

Managing the change from the people perspective is where the planning and consideration really needs to be focused. We are in conversations with the owners of the companies often for months before they make the final decision to align their businesses with BHGRE. We get to know them, their goals, their objectives, their challenges, and their fears. I often joke its like dating. Meeting after meeting, telephone call after telephone call we are evaluating whether we like each other and whether or not we want to spend the next several years mutually dependent upon each other.

But then there are the agents in each of the offices. For the most part these agents don’t know about the change until the day before or at the actual day of the announcement. You can imagine the shocker that is for some people. And although some are not very happy that they were not told earlier, most understand the reasons for “keeping the secret” until game time.

Although the play book is keep secret leading up to announcement day. Once that day arrives and we take the court it’s an open book. Why the owner made the decision to partner with BHGRE is openly discussed, what’s in it for the agent is revealed and what happens next is clearly spelled out.

Being part of the BHGRE family from literally day one has given me a unique perspective. As we welcome each new company to our network it is almost like welcoming a new sibling to the family. Each has their own personality and expectations. No two are alike. But just like our parents told us “we love you all the same”. The key to success is understanding the culture of the company and integrating the BHGRE brand, tools, services and technology into that culture.

We’ve spent the last couple of weeks catching up on some much need sleep and preparing for continued growth of the brand. There are more announcements being planned as I type this.

All of us at BHGRE would like to thank the dozens of vendors who worked to make our March Madness voyage a success. Both our national vendor network and local vendors in the markets of our new affiliates have been amazing. Another big thanks to our internal  team and the local market transition teams who worked basically around the clock for the last week of March and first two weeks of April.

Lastly, thank you to all the new agents we’ve welcomed recently. Your trust in your broker/owner and management teams and you’re willingness to share the vision of the BHGRE brand with us is appreciated. We are truly “igniting the future” together.

Here is a recap of the companies who joined BHGRE during our March Madness run:

Better Homes and Gardens Real Estate Florida 1st

Better Homes and Gardens Real Estate Anderson Properties

Better Homes and Gardens Real Estate III

Better Homes and Gardens Real Estate Desert Properties

Perhaps it is because Twitter has become a part of my life. It runs in the background on my computer screen each day for hours, Tweetdeck pop ups interrupt my concentration every minute or so, Twextme text messages notify me whenever someone mentions me in a Tweet. and my email inbox contains emails notifying me of new followers seemingly every time I look at it. The reality is Twitter has managed to intertwine himself into my day to day routine when just four years ago he didn’t even exist.  Amazing.

And I’m not alone. Twitter is averaging over 50 million Tweets per day and last summer the word “Twitter” was entered into the Collins English Dictionary. Not bad for a toddler.

Do you remember your first Tweet? Remember that mixture of excitement and fear. Will I look silly? Who cares? What am I doing?

What about the first time someone retweeted you or mentioned you in a Tweet? Did you let out a little squeal of joy?

For me, Twitter has become a communication vehicle. I engage, build and maintain relationships every day in 140 characters. I would rather get a DM (direct message) on Twitter from you then an email. I would rather send you a DM then type you an email. I’d be quite happy if 140 characters became the new email limit actually.

I can engage in conversations with multiple people and follow along with multiple conversations easily and quickly on Twitter. This is much easier then arranging a conference call or sending out a mass communication. A simple Twitter search can bring me up to speed on what a person is doing or what the community is thinking on a particular topic. This type of real time knowledge is powerful and extremely important.

I also absorb the majority of my current events and pop culture on Twitter. My entire life I’ve heard people reflect on remembering where they were when they heard JFK had died. I’ll tell the story of reading about Michael Jackson’s death in a Tweet for decades to come, as well as Britney Murphy or most recently John Forsythe (who was no relation, but a great actor).

So Twitter, now that you are 4 years old, what do you have planned for us next? You’ve got millions of us hooked, we can’t seem to go an hour without you, every new kid on the block wants to play with you, and you’ve developed a powerful personaility. The question is, how will you manage to further entrance yourself in our lives?

1) Talent Attraction

Broker/Owners: The back bone of every successfully real estate company is its agents. Attracting and retaining professional, committed  and talented agents must be a focus every working day. A look at any successful brokerage will uncover a successful talent attraction program.

Agents: Agents need to attract talent as well. The perspective is a little different but the dependency on success is consistent to that of the brokerage. Agents need to focus on building their support team- mortgage brokers, title people, home warranty relationships, contractors, inspectors, etc. All the professionals related to the execution of a successful real estate transaction. As the agent, you have the starring role in your client’s real estate transaction, but just like every good movie you need a talented cast of supporting actors in order to make it all work.

2) Revenue

The dollars coming in the door. The need to substantiate our commission rate will never subside. In fact, our ability to communicate and demonstrate the value we bring to the client and the transaction continues to separate the successful from the not successful.

Broker/Owners: As company leaders,  your agent’s rely on you to provide them with leadership and an environment that will help them market their services and expertise to potential buyers and sellers. Your ability to do this is critical. Tools, services and expertise are all key factors in supporting your agents ability to generate revenue. If agents do not feel like you can help them make sales they are going to go elsewhere, and they should.

Agents: You are the front line. The direct contact with the buyer, seller or whomever is the gatekeeper to the transaction in the case of foreclosures and short sales. Your ability to bring value to that relationship will ultimately determines the outcome.

3) Expense Control

There’s a saying that you can’t save your way into profit. That may be true,  however you can spend your way into losing money. We’ve all been through an extremely challenging time and have had to make many difficult decisions in the name of expense control. That must continue. Whether a broker/owner or agent, we have to remain diligent about every dollar we spend. What is the return on investment? How does this expenditure support my revenue generation abilities and strategies? These are questions that we need to ask before we make any financial commitments.

I often hear from industry vendors stories about agents and broker/owners signing up for their services and then never using them. This just doesn’t make sense. We need to be smarter than this.

We are staring down the end of the first quarter of 2010. This is an ideal time to review these three areas of your business and evaluate where there are opportunities for improvement. These three elements are like a three legged stool. Together they provide firm support and steadiness. But any weakness will make your business shaky. And if you’ve ever sat on a shaky three legged stool, you know that’s not a comfortable place to be.

Photo Courtesy of Dexigner.com

Let’s get back to keeping it simple in the real estate business. I have several people in my life who remind me almost daily that what we do is not rocket science, it’s just real estate. So then, why do we make it so darn complicated?

I was having a conversation with one of our franchisees the other day. It started with the normal exchange of pleasantries. I then complimented him on the growth he has been experiencing in his office recently. He attracted 6 experienced agents in January and another 7 in February. A great start to the year. I should also disclose his office is located in Florida- not exactly the envy of North American real estate right now. I asked him what he attributed this strong start to the year to.

He said, this year “I’m focusing on two things everyday: agents and listings.”

I work with brokers everyday analyzing financials, looking at performance indicators, developing talent attraction strategies and numerous other things. By the end of the day, it is easy to pile up the to do’s and the tasks. In fact, usually the pile is so high that we have to spend a good portion of our time reducing the pile to manageable and actionable items. We have to eliminate the “shiny” as I like to say. These are the things that don’t directly contribute to your goals. That’s what struck me as brilliant about the simplicity of focus demonstrated by Vince Laviano, Broker/Owner of Better Homes and Gardens Real Estate Laviano & Associates, when he said ”agents and listings.”

Agents:

• Experienced agents are looking for leadership and an environment that will support their success. Many have been disappointed and disillusioned by the lack of both of these things from their current brokerage. If you can demonstrate that your company can provide these elements, you’ll become the destination brokerage for many great agents.
• There are still people getting their real estate license in every state, every day across the country. Don’t discount the new agent to the industry right now. Those who are getting into the business now are probably the highest quality and most talented new entrants we’ve seen in years. These are business people who you should be proud to partner with in your company.
• Your existing agents need you. They need you to lead. They need you to expand your skill set and help continually expand their value proposition to today’s buyer and seller. Don’t forget about them.

Listings:

• Having saleable listings has always been and will always be the back bone of every successful real estate professionals and brokerage’s business.
• Moving up, changing neighborhoods, financial distress, death, divorce, downsizing. People move for all sorts of reasons. Good markets and bad markets aside, as real estate professionals we have to be good listing agents. If agents focused on prospecting for listings everyday and their brokerage supported this effort through various lead generation programs, we would have a win-win situation.

We are staring down the end of the first quarter of 2010.

• What are you focusing on this year to reach your goals?
• How’s that working out for you so far?
• Has it all gotten complicated or have you kept it simple?