We are generating a very substantial number of leads for the Las Vegas, NV market. We are looking for potential Franchisees interested in opening real estate offices in Las Vegas or Henderson, Nevada. We have developed a functional and working IDX system for the Las Vegas market, which demonstrates the power of our offering.
There are currently 31 States which do not require registration by a Franchisor before a Franchise is sold. This makes the process of selling a Franchise a bit less complicated from a legal perspective. It doesn’t remove the requirements you have to your Franchisees, or the contractual obligations into which you enter with us or others, but it offers consistency in our network across these 31 states.
Alabama
Alaska
Arizona
Arkansas
Colorado
Connecticut
Delaware
Florida
Georgia
Idaho
Iowa
Kansas
Kentucky
Louisiana
Maine
Massachusetts
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
North Carolina
Ohio
Oklahoma
Oregon
Pennsylvania
South Carolina
Tennessee
Texas
The trend in the last couple of years is giving bigger and bigger split to agents. I see the trend nationwide, and very closely here in Las Vegas. There are more and more 100% companies and the fees are getting lower every day. A year ago I thought that $100 per month in office fees and $300 transaction fee was pretty low. Today I see many companies offering $25 per month (also $10 per month, or even $1 per month) and $100 per transaction (including E&O).
Assuming low E&O insurance policy it can add $15-$40 in transaction cost. Then as a broker you have to check each transaction file. You have to assume min. 15 -40 minutes per file of your and support people time (discussing closing with agent, checking file, returning file to agent for missing paperwork, cashing check from title company and issuing check to agent plus all related accounting entries, etc.). There is not much left for broker/owner!
Think about the scenario little bit more:
- Each office has operating expenses (copies, paper, printers, computers, telephones, secretary, front desk, cleaning service, power, etc.). There is not much left to pay those.
- There is a big liability with each transaction. How many transaction a company has to do to cover just one lawsuit or paying deductible to insurance company. For example I worked for the company in the past which had $5,000 deductible for E&O. Later it was increased to $10,000. If a company charges $100 per transaction it will need 50 - 100 transactions just to cover that!
If you look at it you will realize that is not a business you want to be in. What if you are able to generate leads for your own agents? And take reasonable 25% referral fee or maybe 50% for new agents? In one transaction you can make possibly more money than tens of agents will bring to your competition. And that’s the strategy how MillionSaver real estate system works.
People ask me a lot this question. I would say it really depends how you do business. I know a lot of brokers who are in the business 10-25 years and don’t really make a lot of money. They work hard, but they don’t work smart.
On the other hand I am in real estate just couple of years. Got my real estate license in December 2001 and broker license in 2004 (I think in March). But all my years were very profitable.
Why? I followed few simple rules:
1. Keep expenses low. I choose not to get beautiful and expensive office. I have started in small office with $400 per month rent. Once company grew I got more space and year ago bought my own 3,200 sq. feet office building. It is already paid off from the cash flow I have received. So starting small got me advantage and now I have free and clear office!
2. Do smart marketing. There are tons of products for agents and brokers. Most of them are too expensive and provide little value. I didn’t spend any money without seeing that REAL return will be high enough to justify the expense. So we are back to number one here:-)
3. INTERNET! INTERNET! INTERNET! It all goes to Internet. More and more users will use internet to search for homes. Using internet is very efficient way how to advertise or manage business. Therefore I developed Internet based Contact Management system for capturing leads, managing leads and managing agents. Therefore I have developed IDX system for showing and searching homes. I had a vision how to market real estate and manage agents better using tools and software. And therefore such tools are available as part of MillionSaver Real Estate Franchise.
We have developed our own unique IDX search homes software. It regular search functions you would expect from IDX and we also add unique functions like the one for FEATURED HOMES. This is one of the nice features we developed in our own (in-house) IDX solution. We didn’t want to give users only option to search for homes. We wanted them to be able to look at our web pages about different communities and see immediately homes for sale.
For example we can create page about certain community in Las Vegas. We go to our IDX, get the HTML code for the community and paste it to any HTML page. We can specify many criteria, like size of the featured homes ad, areas, zip codes, communities, view, pool, golf amenities, etc. And it will show homes like that:
You can check live examples on HomesParadise.com:
- Spanish Trail is one of the master planned golf communities in Las Vegas. We wanted just show homes for sale in Spanish Trail.
- Peccole Ranch - another master planned community. Check the homes for sale there!
Believe me, clients love it! They can go and find information about places they are interested and see the homes for sale at the same time! They can save the homes they like to property organizer and click on homes they want to see with agent. Agent will get notification and can just go, show and close!
More about our IDX system:
- Example of regular IDX home search
- Description and screenshots
- IDX functions for clients
IDX Software license is provided at not cost if you purchase MillionSaver Franchise.
Screenshots:
Main admin screen. Shows hot leads (showing requests, call me request and more info requests). Customers can save the homes they like in their Property Organizer. Once they want to see the homes they like they click on (Show me, Call me.. buttons). Leads appear in admin center and agents can get access to them. There is more simple admin center for regular agents. The one shown is for broker only.
Detail of Showing request leads.
See what homes the customer wants to see. Possibility to send more info through admin.
Stats show many aspects. This one Number of new clients registered on IDX each month.
Data mining function. Find clients interested in certain projects.
Data mining - find clients who saved homes with certain features size, price, etc. Great prospecting tool!
Data mining. Areas, city, size…
Total Stats Overview.
List of clients. Can be shown by saved homes, saved searches, projects, etc.
Stats based on the Most Popular Searches
Stats: Saved properties by clients in Property Organizers.
You can set up unique search forms. This feature allows reselling IDX software to agents.
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