Today’s RealTrending features an interview with Steve Brown, president of residential sales for Crye-Leike Real Estate and chairman of the board for The Realty Alliance, a network of North American real estate firms. Brown talks about boosting core service capture rates, industry trends and the new changes the National Association of Realtors is making to the MLS.
Tracey Velt: Tell me specifically what you’re doing to boost core service capture rates. I mean, in addition to sales meetings, bringing in some of the loan officers to talk about products or trends, are there other things that you found successful in building those relationships?
Steve Brown: It’s still a challenge. I mean, we’ve been at it for over 30 years, and it’s a work in progress, even now. So good luck to those folks who are trying to achieve 50% to 70% capture outside of title.
I don’t think that there’s any magic bullet that is going to make a huge difference in capture rate. I think timing has a lot to do with it and this gets into something I was going to mention a little bit later but we can go ahead and hit it now. I think artificial intelligence is driving a lot of the timing. It’s improving capture rates, particularly in some of the services that are necessarily related to title, mortgage, insurance and whatnot.
I know that there are tests going on with some major brokerages around the country right now using artificial intelligence to determine the best time to approach customers in their cycle of home ownership.
RealTrending features the brightest minds in real estate. Twice a month, brokerage leaders, top agents, team leaders, and industry experts share their success secrets, trends, and lessons learned navigating this ever-changing industry. Hosted by Tracey Velt and produced by Elissa Branch.