The August edition was delayed so that I could report on the RE Connect Conference in San Francisco. The mission was to bring you news about hot topics as well as new products and services in the real estate and loan industry. This particular conference, that prides itself on being on the cutting edge, was rather dull. The news is that there is no big news. Many innovative companies that racked up accolades and awards 5 years ago have vanished. Following is a synopsis of 3 days of listening to panels of experts.

IT’S A LEADING QUESTION

How does one capture leads (a borrower, buyer or seller) in today's market? Lead generation technology venues was the major topic discussed at RE Connect. Some venues generate leads as a business. Some generate leads to lock in an ancillary service. Some offer software accessories to the web site so that the agent or loan officer can generate their own leads. What's best for you?

THE LEAD GENERATORS THAT ARE BUSINESSES

Increasingly, independent-minded buyers and sellers locate and research real estate and loans directly on the Internet. Thus, there is a proliferation of private companies that compete with Realtor.com by creating and promoting web sites that attract John Q. Public interested in real estate and loans. These leads are sold to the real estate agents and loan officers. The payment of service can be a subscription fee or a percentage of the commission. The lead generators offer the lead a substantial rebate from the agent’s or loan officer’s commission to ensure that the lead reports the close of escrow.

LEAD GENERATORS THAT SELL ANCILLARY SERVICES

Bank of America is looking for partners! Because of intensive and successful lobbying by N.A.R., you will not see a Bank of America Realty office anywhere. But, beginning August 2004, you will see a Bank of America loan officer drinking a double mocha latte at his desk at your local real estate office. You will see Bank of America promoting real estate offices and their listings inside their branch offices and on their ATM screens. Bank of America promotes and generates leads FREE … to their real estate partners!

Even though Wells Fargo was not a participant of the conference, I espied a WF Business Development guy listening intently and taking notes. I would bet that CitiBank, Washington Mutual and other big bankers had their ears open to this portion of the conference. Bank/Real Estate Office partnerships is the trend to watch.

Big banks will seek to partner with big corporate real estate offices. Remember that there are many small and medium sized real estate offices and mortgage brokers hat would enjoy such a relationship too. Is this an opportunity for you?

LEAD GENERATING SOFTWARE

There are numerous software programs that can be added to your web site to capture leads and entice them to enter information. These leads interface with a contact management program that organizes names, phone numbers, addresses and e-mails to automatically scheduled follow up and marketing campaigns. Check with your favorite title company for the most advanced software programs.

FOLLOW-UP

Automated technology can attract, organize, categorize and refer leads instantly. Technology, however, cannot make a sale. The Internet lead expects contact within an hour of entering information on line. If the Internet lead doesn't get a return call or e-mail, he moves on to another lead generating web site. Panels of various lead generation companies agreed that over 70% of captured leads receive no follow-up from the agent to whom the lead was referred. Many lead generator companies will probate an agent or loan officer who does not respond to a lead within a 24 hour period and drop him if this happens a second time.

BOTTOM LINE

Technology is a tool that enables the agent and loan officer to work more efficiently, but does not increase business in and of its self. In fact, technology has far exceeded the practical aspects of selling real estate and loans. Successful business at all levels is all about building relationships and providing good service to clients.

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Top Producers are always honing their sales skills to a sharp edge! Here is your opportunity to hone your skills so you can be a contender! Learn how to be "Unstoppable" with Cynthia Kersey, how to play "The Game" with Sarano Kelly and how to use effective sales strategies and techniques with Master Sales Trainer and Success Coach, Ray Taylor.

Target Your Calendar for this Excellent Sales Training Program!
Place: Double Tree Hotel, 222 N. Vineyard, Ontario, CA
Date: September 14, 2004.
Time: 9:00 a.m. - 5:30 p.m.

REMERGE TC TIPS!

Even though your REMERGE TC Coordinator is not sitting in your office, she is a very committed and loyal member of your staff. Your REMERGE TC Coordinator can meet all contractual time lines and REMERGE TC can guarantee your files when you do your part. Your part is:

• Fax contract(s) to your REMERGE TC Coordinator, immediately.

Register your listings and sales transactions at www.remerge.com as soon as they occur.

Register your sales transactions with accurate and complete information on your clients, the co-op agent and the affiliate services and vendors.

Alert your client and the co-op Agent that your REMERGE TC Coordinators will be managing the paperwork for the transaction through COE. Ask your REMERGE TC Coordinator to send you cards.

Need help? Contact Shelly Gorenstein, Director. She can help you organize a simple routine that will create a smooth workflow.

COMMENTS? SUGGESTIONS? Don't be shy! We welcome your feedback.
Shelly Gorenstein, REMERGE TC Gazette Editor, shelly@remerge.com