it's broken. let's rework it. - wendy forsythe

It’s Broken. Let’s REWORK It. Lessons from the founders of 37Signals

Wendy Forsythe @brandwendyCarrington Real Estate Services

Current State The industry is broken The business model doesn’t work The consumer is disappointed What value to agents bring? The 80/20 rule is really 90/10 External competitors

How do we stay relevant?

Failure is Not a Rite of Passage

Page 15

“Other people’s failures are just that: other people’s failures.”

“If other people can’t market their product, it has nothing to do with you. If other people can’t build a team, it has nothing to do with you. If other people can’t price their services properly, it has nothing to do with you. If other people can’t earn more money then they spend… well, you get it.”

Other people have tried and failed to build great and profitable real

estate companies.

We will be successful!

Scratch Your Own Itch

Page 33

“The easiest, most straightforward way to create a great product of service is to make something you want to use.”

Would you work for you?

Would you join your office?

Less is a Good Thing

Page 66

“Embrace constraints”

“I don’t have enough time/money/people/experience. Stop whining. Less is a good thing. Constraints are advantages in disguise. Limited resources for you to make do with what you’ve got. There’s no room for waste. And that forces you to be creative.”

“So before you sing the “not enough” blues, see how far you can get with what you have.”

We have everything we need!

Pour Yourself IntoYour Product

Page 137

“Decommoditize your product”

“If you’re successful, people will try to copy what you do. It’s just a fact of life. But there’s a great way to protect yourself from copycats: Make you part of your product or service. Inject what’s unique about the way you think into what you sell. Decommoditize your product. Make it something no one else can offer.”

You do you!

Let Your CustomersOutgrow You

Page 155

“ When you stick with your current customers come hell or high water, you wind up cutting yourself off from new ones. Your product or service becomes to tailored to your current customers that it stops appealing to fresh blood.”

Customers = Agents

Don’t Out-SpendOut-Teach

Page 172

“Instead of trying to outspend, outsell, or out sponsor competitors, try to out-teach them. Teaching probably isn’t something your competitors are even thinking about. Most businesses focus on selling or servicing, but teaching never occurs to them.

Teach and you’ll form a bond you just don’t get from traditional marketing tactics.”

Share you, your knowledge and your passion with abundance!

Key Takeaways Failure is not a rite of passage Scratch your own itch Less is a good thing Put yourself into your product Let your customers outgrow you Don’t outspend, out-teach

Who’s Ready to REwork the

Real Estate Industry with me?