RealOffice360™ CEO Discusses Real Estate CRMs on Modern Real Estate Radio
RealOffice360™ CEO, Mike McAra, sits down with Modern Real Estate Radio to discuss all things real estate CRM.
Full transcript is below.
Introduction
Hello, and welcome to Modern Real Estate Radio. Modern Real Estate Radio is the podcast made exclusively for the forward thinking real estate agent. Pro tips, industry news, and the latest innovation, all wrapped up in one show. Now, to your host, Michael Montgomery.
Modern Real Estate Radio Host (Michael Montgomery)
Hello, and welcome back to Modern Real Estate Radio. Today I am chatting with a good friend, Mike McAra. Mike McAra is the COO of RealOffice360™. If you haven't heard of this, it is a new real estate CRM platform. It's built on his previous CRM platform. Super visual, easy to use, and perfect for real estate agents. Mike, how are you doing today, buddy?
RealOffice360™ CEO Mike McAra
I'm doing awesome, Mike. How are you?
Modern Real Estate Radio Host (Michael Montgomery)
Great. Ready to chat about some CRMs?
RealOffice360™ CEO Mike McAra
You know it, man. Thanks for having me.
Modern Real Estate Radio Host (Michael Montgomery)
You bet. So tell us a little bit about ... Just give us the backstory on what is RealOffice360™?
RealOffice360™ CEO Mike McAra
Yeah, absolutely. So RealOffice360 is exactly what you were saying. It's a CRM for real estate agents. What we pride ourselves on being is extremely simple for agents to pick up and start running with, keeping it visual, and keeping it just sort of that one place that isn't daunting to go to when you want to actually work in your client database, which if you're like most agents and most agents I talk to, it's one of those things that we kind of bang our heads against the wall and don't really want to do. So that's kind of where it came from, what we strive to do daily.
Modern Real Estate Radio Host (Michael Montgomery)
Totally.
RealOffice360™ CEO Mike McAra
Yeah.
Modern Real Estate Radio Host (Michael Montgomery)
And as real estate agents, we've heard a million times, we need to have these client databases. And I've talked to agents that are doing 100 plus deals, and they may have ... They have their database in an Excel spreadsheet and that sort of thing. So what sort of pain points are these databases solving for people. Why don't we just use Excel spreadsheets?
RealOffice360™ CEO Mike McAra
Well to be honest, that's a great start. If you are using an Excel spreadsheet, to be completely honest, that's a great start. A lot of people don't even have that! The cool part is that we all have databases with Facebook, LinkedIn, Twitter. So we're already ahead of the curve, where we weren't before, maybe 10 years ago. So that's a great start. But the thing about a database in the true sense, with actually running it from a business point of view is that, if you have a proper database, it allows you to sort of take all those balls that you're juggling around in your head daily, and put them in a place where you don't have to worry about those things. You have enough to worry about on the go.
You've got to worry about which listing you've got to put that sign up at. You've got to worry about those conditions you've got to remove. So you've got all these different things that are really, really important, and what you're going to end up forgetting is, what is that important date that isn't really, really timely? So for example, did you want to send flowers to that closing that you had two weeks ago, three weeks ago? Did you want to make a note about the fact that a family that you've worked with closely just got a pet, and you wanted to reach out with them and see how the pet was doing in the yard. Because you know that you sold them a place with a yard that, at the time, might be a little small for an animal. So these, sort of these nuances that aren't pressing, that allow you to sort of keep it in that concise place that allows you to operate at just a little bit more of an efficient level.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah. Absolutely. And we call all attest to this business being, not that you can't get online leads and that sort of thing, but we can attest to this business being the majority of where we get our business from is our database, is our sphere. So you say the visual element of it. There are a number of different options for CRMs out there, some of which maybe aren't the most visually appealing, especially some of the more common ones that have been used for years and years. So, how does that help the agent? Having it visual?
RealOffice360™ CEO Mike McAra
So, the way that we looked at this was that, if you were stripped right back to working as an agent, what do most agents have, or what have agents had in the past? And it's typically a whiteboard. Right, you've got a place where when you come in you can see all of your deals in one place, or all your people coming down your pipeline, all in that one place. So it's what's going on and what's top of mind. So we started from that place of context.
How can we take those people that are in your database, and display them to you in a way that's relevant. So that you're not just doing ... Actually, one of the agents we were chatting with, they quoted the term “data dump”. You're not just dumping it in there for no reason, right, it's relevant information to you. So, when I say visual, what I mean by that is, who are you dealing with today? Who are you dealing with in the next six to 12 months, and who do you think you should be dealing with in the next six to 12 months? Because you might know, if you work the database correctly, people that are going to transact in real estate before they even know it, when you're looking for those sort of life changes. So you might be pursuing Facebook and you might see that somebody got married. You might see that somebody got divorced. You might see that somebody had a kid, they had a pet, a promotion. You can start to look for these keys. Doesn't have to be on Facebook, it can be when you're having coffee or having lunch with people.
When you're dealing with the people that you already have relationships with, what do you do with that knowledge? Where do you store it? And so we wanted to provide agents a place to say "Hey, that's someone I want to keep an eye on." And instead of setting it as a reminder or as a task to do, let's just visually display that for you. Just like you would a whiteboard.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah. I think the visual side is perfect. There's the user experience of some of the tech out there. It's so important for us real estate agents, because oftentimes we're bogged down. We don't want to learn a brand new piece of software. We want to open it up, start plugging and playing and going with it. And you brought up working the database properly. You said a few things around, say, a new pet, or something like that. What are some other tips for real estate agents to work their database?
RealOffice360™ CEO Mike McAra
Step one, have one.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah.
RealOffice360™ CEO Mike McAra
Right. So, just have one, and have it so that it's all in one place. So, we've all got our iPhones or our Samsung's or whatever. That's a great database to start. You've got your social media, that's another database out there. A lot of people have their spreadsheets. So the first thing is, is just get everything in one place. And once it's in that one place, put together a plan, and I'm a massive advocate of simple. So what is your plan? And you'll see out there that there's all these different things you can do to your database. Be in it 30 minutes, be in it 40 minutes, be in it 20 minutes. But what are you doing in that database? How are you providing value to people in your database that it's going to generate business for you? And that's where we've sort of taken a different approach.
So for example, when you're properly working your database, what does that mean? Well, first and foremost, have it filled out completely. So when you're dealing with a client, let's say you just got off a call. While it's on the top of your mind, throw their phone number in there, throw a comment in that you've just dealt with that person. If you have a follow-up, put it in there. The next thing that you want to do in your database is make sure that you're going through it annually at minimum. Because these things deprecate on average at 15%. And so when I use the word deprecate, they fall off, right? People leave the city or they move away, or they change their life circumstances. So you want to make sure that your database, if it's got 100 clients in there, you need to be adding at least 15 people every year to replace those that are leaving. And if you don't know who are leaving, you need to figure that out. And that's what working your database daily can do for you. So it's one of these things that people talk about working on your business as opposed to in your business, and again, I like to keep things simple.
Sometimes you've just got to do a little bit of prospecting, and for our point of view, that's working with the people you know. And one of the things we just talked through is transaction rates, and I'm not sure if you're super familiar with it, but if you look at the number of transactions in a metro area versus the number of owner occupied dwellings in an area, you can figure out what percent of people will sell in a given year. In Calgary, that's 11%.
Modern Real Estate Radio Host (Michael Montgomery)
Interesting.
RealOffice360™ CEO Mike McAra
So, for every 100 people you know, 10 people will do a transaction. So how many hundred people do you know, that are already friends with you, already have a relationship, already have trust with you. Now, you still have to become the realtor of choice. How do you do that? You work your database. You be that friend, and you create value for them without the deal at the table.
Modern Real Estate Radio Host (Michael Montgomery)
That's genius, to look at the number of sales in the metro area. I think that helps us get a grasp on the fact that people are buying and selling. If you're in a slower market, we're currently in a slower market. If you're down in the US, you could be ... Places could be flying off the shelves. But either way, there are transactions.
RealOffice360™ CEO Mike McAra
So to give you a context on that slower market, so the 10 year average in our area is 20,000 sales in our city. Last year was about 15,600. So yes, it is slower. I mean, multiply that by two, that's 30,000 transactions in the city alone. The 10 year average is 40,000. So, yeah, it's down roughly 20, 25%, but there's still 30,000 transactions annually out there waiting for you.
Modern Real Estate Radio Host (Michael Montgomery)
Right. Totally.
RealOffice360™ CEO Mike McAra
You've just got to figure them out.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah. That's how you have to look at it. And then in order to get our hands on some of these transactions, you brought up something really important that we hear a lot of times in real estate. It's that word, the value word. The v-word, where it says we need to be bringing value to the people within our database. And I totally agree with that. Even some databases that I'm in, I appreciate it so much when people actually send me valuable content. What do you recommend a real estate agent does in order to be valuable to their database?
RealOffice360™ CEO Mike McAra:
I think the most important thing for people to think through; before you do anything, ask yourself the question, what would you want? So take your agent hat off for a moment, and ask yourself the question. When you get, for example, something in the mail or an email, do you push delete, and do you throw it in the recycling bin? And if you do, why did you do it? And then have that mindset when you're thinking about what you might do for your potential clients, or people in your database. So things that don't get thrown out, personal notes, right? Those usually go on the fridge. So that's a great one. People love birthday cards. I like birthday cards, those are great. But those are sort of more appealing to the heart, on the personal side of things. Which, if you have a good relationship, great. But there's then the more tangible, let's call it science-y side of things, where you're a real estate professional. You know the market better than anyone else, and that's the mindset you have to have.
So what value can you provide to me? Well, my home is my single largest asset, as a consumer. And who's helping me, on an annual basis, manage that? I might have financial advisors talking about my stocks, my bonds. But statistically speaking, my single largest, most valuable asset is my real estate. So wouldn't it be really, really nice if I could have somebody to sit down with annually, and talk about the value of my home, renovations I'm contemplating, maintenance that I'm doing or not doing? Now, that's a really awesome value add service that my agent could provide for me annually. We could do it over beers, over wine, over lunch. But most people don't take the time to do that. Why? Because the transaction's not necessarily on the table. But what we need to realize as an industry is, if you do that for your clients, for your database, you're building up that trust, you're building up that relationship. And yeah, they might not be selling this year, but they might know five people that are. And if you become that realtor of choice for them, what do people always talk about at parties, at dinner tables? Real estate, right? And so when they're saying "Hey, guess what Mike did for me? Yeah, we sit down annually, we have beer at lunch, and we talk about my updated market assessed value, we talk about potential renovations. And yeah, no, it's just sort of he does it because this is the value that he offers to me." So that's an example of something. There's a whole plethora, and if you do a quick Google, you'll find 70, 80, 90, 100 things you can do for people in your database. I would say, do something, and do it with the mindset of what would you want to receive.
Modern Real Estate Radio Host (Michael Montgomery)
I think that's genius, and oftentimes we have these discussions with real estate agents where, how do I interact with them? How do I provide them with value? And that's such a ... That's one that's right in front of our faces but we never actually grasp onto. Even if you didn't sell them the home, even if you're a brand new agent and you know five people that you can do CMAs for, you have the data, you have the ability to do that.
RealOffice360™ CEO Mike McAra
Well, and most people, when you do this, they're kind of shocked why you would be doing it, but if you sit down, and they're people you know already, like your friends, your family. You're like yeah, this is what I do. Number one, you're probably going to be having that lunch, that beer, that wine, that coffee, that person anyway, because you're reconnecting with a friend. But number two, but if you're coming to the table with this really cool piece of information that's about my single largest financial asset, like talk about blowing me out of the water. And the cool part is, you've now separated yourself from anyone else. When they think real estate, they think about the assessment that you've given them, as opposed to anything that's else is top of mind. So it's a really sort of interesting slant on things, and it definitely takes work, but if you're committed to working your database and you truly believe in transaction rates and working your sphere of influence, then it's definitely a strong approach.
Modern Real Estate Radio Host (Michael Montgomery)
How would you approach that conversation if your home value has dropped?
RealOffice360™ CEO Mike McAra
Well, it's the same way you do with the stock market, right?
Modern Real Estate Radio Host (Michael Montgomery)
It is what it is.
RealOffice360™ CEO Mike McAra
At the end of the day, you don't control the market. And I think we've all been in these situations where you go to list a home, and perhaps their neighbor sold two years ago, and it was in a bull market. And now you're going down and you're sitting in the listing presentation and worse off, now you're competing for that listing with three, four other agents. So I would prefer to have that conversation when there is no competition. And have that conversation about the fact that their property value has dropped when they're not contemplating listing, because it might not be on the table from that point in time, but it's allowing me to do that at a time when there's no other competition, if that makes sense. So, the fact is, we're all in the same market, so at least we're all playing from the same field. So that's the one cool part of it. But at the same time, if you do this but not at the listing presentation, because you're going to have to do it either way, you don't have competition. So it's almost better.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah. That's awesome. And Real Office 360 has a program built into it to help you with this element.
RealOffice360™ CEO Mike McAra:
So right now, what we've got live is sort of just the visual CRM. We do have in beta through brokerage offerings only this type of product. The reason we haven't gone to the general real estate public, or I should say agent public with this, is that we've recognized it takes a high level of training to be able to utilize this correctly with the database, and we didn't want it to get out there and be used to the detriment of agents and their clients. So we want to make sure we get it right. So right now, we're just doing select beta on that, if you're in the Calgary market. But our core basic visual CRM, that's continent wide.
Modern Real Estate Radio Host (Michael Montgomery)
That's continent wide. Yeah, absolutely. And I encourage everybody to go to your site and have a look at some of the features. The visual element and then the focus on taking care of that database, it's huge. It's huge. That's what it's all about in real estate for us. So we've heard about certain numbers about how often we're supposed to touch base with people. What do you recommend? I got a name in my database, how often should I be reaching out to them?
RealOffice360™ CEO Mike McAra
So, again, I think it really depends on you and your business. And I sit down with different agents daily. That's just what I do. It's part of being in this role. And again, it comes down to just keeping it simple, and starting with doing something, and doing it consistent. So what do you personally believe you can do consistently, and what do you think you can do that you're not going to start to dread? So, for example, if you really like ... And I'm a big foodie. I like coffee, I like beer, I like wine. So if you really like those things, can you annually, just to start, can you annually meet with everyone in your database for that coffee, wine, beer lunch? Start there. So that's one touch.
Can you send a follow up, personal note after those meetings. Okay, so that's two. The third thing, we all have these automated email marketing reports that do neighborhood sold and stuff like that. Only do those to people that they want them. So don't just blast it out to everyone in your database. What I would do, you're sitting down to these lunches, "Hey, this is something that I've got. Would you be interested if I set you up on this, where it shows you all the solds in your neighborhood?" Yes, no, awesome. Three touches. Okay, so now you're at three. Is that enough? It's up to you. We haven't touched on birthdays, we haven't touched on home purchase anniversaries, we haven't touched on wedding anniversaries yet, we haven't touched on ... What are the other annual events?
You know, tax assessment season, that's a great one going into the fall. What schools, etc. People like to do things around the holidays. I find that as you go and try to do a huge number of touches with each client, you have to take that step back and ask yourself again, what do you want as a consumer from, for example, your insurance broker, if you have one. And just try to think from that point of view. Or a mortgage broker, or a move ... Get out of real estate completely. What would you want from, I don't know, like, pick your industry. And those professionals. What would you want? What would you want from your doctor?
Modern Real Estate Radio Host (Michael Montgomery)
Yeah, absolutely.
RealOffice360™ CEO Mike McAra
Or your lawyer. Like how many touches should your lawyer touch you, if you have a lawyer? Or your doctor. Or do you seek out your doctor when you need value, or you do your annual checkups? What are the annual checkup equivalents for a real estate agent? Well, it could be updating me on the value of my home. So I don't like to get caught up in the number of touches, but I do like to say you have to figure out what works for you in your database, because if it's a relational database, which is what we focus on, then you know what your friends and family want. But start easy, start with those face to face interactions. Because ultimately, if you're not getting face to face with your database, then that is, that's a bigger issue that you need to address first.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah. And I mean, that's a tough one. Getting face to face with people can be difficult for agents, because oftentimes they have a mindset around the fact of they don't really want to see me, or I sold them their home, but do I go knock on their door? Is that weird? That sort of thing. I think you did say something that's really important, and it's consistency. So if you're doing an annual real estate CMA for your client, your clients begin to expect it. And okay, it's getting into March, it's getting into April, May, whatever that month is that they're expecting it, then for the next year, they're expecting it again and again, and it's an excuse for you to get in front of them.
RealOffice360™ CEO Mike McAra
It is, but you'll notice when you start to do this, so we've seen agents do this since 2010, and a lot of their clients, some years, say "You know what? I don't need it this year. Like I really don't care. I don't care what the market's done, I'm not looking to move at all. I just do not care." Awesome. That's one less person you have to do it for. I would still encourage you to do it, send it to them in an email, or even better, send it to them in the post with a written note. People will open that, they'll open that up. That's way better.
There's also great software out there if you want to do like video view emails, like BombBomb, that's a great one. So you could tape, just did up this updated CMA for you. Happy 2018, see you in 2019. Whatever. But that is definitely something, one of our mantras as a corporation and something that we attest to is, doing what you'll say you'll do, because that builds that trust. And if you think about it in any relationship, so you think about your partner, for example. They tell you they're going to pick up the milk. And they don't pick up the milk. How do you feel? It's the same thing if you're told that you're going to get this annual update, and then you don't get the annual update, how do you feel?
Modern Real Estate Radio Host (Michael Montgomery)
You shouldn't have even said anything from the start, right?
RealOffice360™ CEO Mike McAra
That's right. That's right. You've definitely not picked up the milk before, right Mike?
Modern Real Estate Radio Host (Michael Montgomery)
You know, I was on lunch duty today, and I walked in and my wife was like "Where's lunch?" I totally forgot, and just the look on her face was just total despair.
RealOffice360™ CEO Mike McAra
You broke the circle of trust.
Modern Real Estate Radio Host (Michael Montgomery)
I did. Now I owe her two lunches. Absolutely. So, Mike, and we should say this as well. You are ... You're also married to a real estate agent.
RealOffice360™ CEO Mike McAra
I am.
Modern Real Estate Radio Host (Michael Montgomery)
A real estate agent here in Calgary, so you know the business, you know what it takes to build a solid business from that platform as well. How have you been able to continue building this business while maintaining, of course a solid marriage, and then also you're raising a one and a half year old. How do you do all this? How do you keep it all together?
RealOffice360™ CEO Mike McAra
A lot of medication.
Modern Real Estate Radio Host (Michael Montgomery)
A lot of medication? Well, and you said drinking, too.
RealOffice360™ CEO Mike McAra
No, I'm just ... Yeah, yeah, exactly. No, it's a great question, and everyone talks about work/life balance. I don't believe in work/life balance, I believe in work/life mix. And you have to be comfortable with what your work/life mix is. So for us, we're very A types. That's just who we are. But we time block. We time block everything. So I know what days of the week that I am home parenting. I know what days of the week I am able to work. I know what days of the week that we're parenting together, I know what days I'm dropping her off at daycare, I know what days she's staying home.
And we had to create this plan, because when we didn't have it, we were at each other's throats. It was ... You know, my work is more important than your work, even though none of us ever said that, it's just, it's implied that if you're taking time away from my listing appointments or my buyer consultations, that your life is more important than mine. When in fact, you're a team working together.
So we had to find a system that worked, and for us the system that worked was okay, here are the days that you can work anytime you want, for both of us. And if it goes outside of that, we just need to touch base with each other and consult. So what it really did, it reduced the chatter between "Hey, I need to do this, I need to do that." Because the expectation was that's available for me to work.
So, that was there. But again, it comes down to that work/life mix, and we've made it a conscious decision that right now, work's important. And life is important, too, but we're really fortunate, we have a supporting family around here as well, so we have a lot of grandmas, grandpas, uncles, aunts, that our little one gets to spend time with as well, so they get to build those relationships, which is really cool.
So obviously, you have to find what works for you, but for us it's ... You know, I never thought I'd say it, but definitely the time blocking and figuring out which days work, is awesome. That, and I try to get up early. Because she doesn't get up early, so that's my time. So if I want to do anything, like go to the gym or whatever, that's my time. Usually the emails don't start until like eight.
Modern Real Estate Radio Host (Michael Montgomery)
Right, and you know, real estate agent time, even for our meetings that we have for our brokerage, real estate agent time is a little bit later.
RealOffice360™ CEO Mike McAra
Didn't want to say anything, but emails don't ... When I said eight am, I meant more like 11 am.
Modern Real Estate Radio Host (Michael Montgomery)
And so looking at the industry from the outside, but also having your connections in the industry, as you clearly, clearly do, your wife being someone who's in the industry, what are you looking for in a real estate professional? When a real estate professional comes to you, and you have that discussion, and we're ... There's so many real estate agents in every community. What do you think differentiates them?
RealOffice360™ CEO Mike McAra
For me, you know, that's a really interesting question. I wasn't expecting you to answer, but it actually, it allows a really interesting introspection. So when I look at any professional, whether it's my doctor, my lawyer, my insurance broker, what I'm looking for is somebody to be my guide. I want you to be my Yoda.
So if you can be my Yoda, then I'm happy. So what does that mean? What does Yoda bring to the table? Well, Yoda brings knowledge, and a bit of credibility. So how do you display that knowledge and credibility? Is it that you have a 700 page listing consultation packet, or is it you came in wearing a really sharp three piece suit and you're driving a Lambo. I don't know. But you need to come in with that sort of level of, for lack of a better word, preparation. So that's what I'm looking for first and foremost.
And secondly, what I'm looking for is somebody that I feel has my best intentions at heart. And so that's why we are such believers of working the relationships you already know. And so, if you were to take a quick survey, and I don't know the numbers, but how many Facebook friends do you think, on average, we all have? I would hazard a guess it's in the 200, 300s, and that's probably a gross underestimation for a lot of people. Especially the millennials coming up. I myself am a millennial, so I can speak about us here.
And then you say, okay, who are those people in your city? Okay, maybe it's a couple hundred. If you can work with those people that already have that relationship, you've got that trust, which is what I'm looking for. I'm also looking for people that have proven themselves over time. So if we haven't done deals, how else have you proved yourself over time? Are you the person that shows up at hockey on time? Are you the person that shows up at Lacrosse on time? Whatever. Are you the person that, if they're going to run a barbecue for the group, that they are prepared, or are they scattered? So who are you as a person? Because it all counts.
Especially when you're going to be handling my single largest financial asset. And that's the way that I view it. But again, I come from a science background, I'm told that I'm a linear person, I'm told I've got that engineering, accounting mindset, so maybe I'm a little more at the end of the spectrum. But at the end of the day, if you peel it all back, I want somebody that I trust, and that I know can do the job. Because it's one thing that I trust you, but I don't think you can execute? Well, I'm sorry, like I really, really like you, but I don't think you can do it. That's not going to work, right? So you obviously have to be very proficient at your job.
But yeah, again, it's a challenge to actually nail that down because it's such a personal thing.
Modern Real Estate Radio Host (Michael Montgomery)
It is.
RealOffice360™ CEO Mike McAra
And every client's different. And that's again why I'm such an advocate of working with the people you know. Because you know that already.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah, you do. And you said it, like the know, like and trust. We've heard that before in the industry, and it keeps coming back to these ... We tend to make our careers more difficult than they need to be. Sometimes we go chasing ... And I'm more guilty of this than anybody, but chasing the next big thing, when it just comes down to, again, relationships. Over and over and over again.
RealOffice360™ CEO Mike McAra
Well, and I kind of view it like chasing the next big thing is sort of like the bonus. It's like found money. But working with your sphere of influence, your network, that's that sustainable business that you can just churn over, while having that nice work/life mix, and if you want to go and chase, you know, lead gen, or you want to do Facebook ads or whatever, or sit open houses, or you want to farm a community, door knock, whatever. That's all great stuff, but it's really, really hard to predict.
Because it's one thing, you can predict ... Okay, if I door knock 100 I might get a yes to 10, and of those 10, one person might be selling. But you're still competing for that listing, you're still competing for that business. And that's where the uncertainty is. It's still statistical on who's buying and selling, but the uncertainty surrounds whether they'll choose you or not.
Now, you go over to the relationship side, if you were prospecting your database in a way that's consistent, in a way that number one, your people know that you're actually in the business. Like let's start simple here. Do people know you're an agent? Are you scared to tell your friends you're in real estate? Because a lot of people are. But the mindset we keep trying to tell people is, listen, who has their best intentions at heart? Is it their friend, or is it someone else that they've just met for a couple months?
Now, they both could, but from a friend point of view or family point of view, of course you have their inherent trust, or their inherent benefit at heart. You just do. That's why you're friends. And you've got to look at it that way. Why not work with your friends, and work with people you like, as opposed to spending all your time trying to chase that next big fish. If you've got time, do both. Absolutely, but the hard part is, is connecting the fact that what you do in your database actually will generate that business. Because they're hard to see. They're hard to see deals. And that's the challenge, I think.
Modern Real Estate Radio Host (Michael Montgomery)
It's true. Yeah, you can see an online lead that is putting up their hand, but that's still not a relationship. We usually say online leads, or door knocking, or open houses, all these things are ways that you can start building relationships, so instead of treating it like the open house is going to lead to an instant buyer, instead, the open house might lead to two relationships. And think in more relationships, versus this is going to lead to a transaction. And even that mindset shift for our own business and our agents' business really helps. It really helps.
RealOffice360™ CEO Mike McAra
I think it gives you a level of control back.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah, yeah. Absolutely.
RealOffice360™ CEO Mike McAra
Because that's something that ... I like to look at leading indicators, as opposed to trailing indicators. To me, a trailing indicator would be a closed deal. So you've done a series of actions that has resulted in something. So I like to look at what are those key actions that you can measure and do daily, that result in those deal flows. So are those key actions spending that 30 minutes in your database? Is it writing that personal note? Is it taking the time to go for that coffee? How many coffees have gone for this week?
Those are leading indicators that you can start to put together, literally, a mathematical model of 10 coffees equals one deal. And now you're literally, you're Starbucks' best client, or second cup or whatever, but you've got a formula. And we've all got to find the formula for ourself, but you can find it.
Modern Real Estate Radio Host (Michael Montgomery)
Yeah. I love that. I absolutely love that. How can people reach out to you, Mike, and to learn more about your product?
RealOffice360™ CEO Mike McAra
Absolutely. So, the easiest way for people to find us is www.realoffice360.com. That is where they can find everything about us. We've got ... The best way is to just go there. If you want to reach out personally through email, support@realoffice360.com. We've got a small team, so it's one a few of us answering these emails, so if you want to reach out personally, I'm sure we could follow up there. But that's definitely the best way.
Modern Real Estate Radio Host (Michael Montgomery)
Awesome. And we'll link all of that up in the show notes. And Mike, final question. You're on the Ted stage, you're giving a Ted Talk. What would you be discussing?
RealOffice360™ CEO Mike McAra
Great question. I think what I would be discussing is that in 2018, we've got all these shiny bells and whistles, and at the end of the day, human beings are social creatures, and we strive for that social interaction. So take a step back, strip it all away, and remember that we like being social. And you're in a social business. So go be social.
Modern Real Estate Radio Host (Michael Montgomery)
Love it. Love it. Great way to leave it. Mike, thanks so much for coming on.
RealOffice360™ CEO Mike McAra:
Thanks for having me, Mike. Appreciate it.
Outro: Thanks for tuning in to Modern Real Estate Radio. Remember, you can reach out to your host anytime by emailing Michael@ModernRealEstateRadio.com. Thanks again for listening. Now, get out there and sell a house.
*Edited for clarity and context.
Michael Montgomery is a real estate agent and broker at Renzo Real Estate in Calgary, Canada.