'E-team' boosts broker's bottom line

To Be a Broker: Q-and-A with Mike Reidmann

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Q: What is the biggest change you have made to the brokerage in the past year, and what prompted this change? How has this change impacted the bottom line, if at all? What has changed about your service offering in the past year?

A: (We) reduced our print marketing budget and increased our online efforts. We now distribute our listings to 57 different online amalgamators; we increased our purchase of keywords from search engines and began monitoring e-mail inquiries in real time through our business development department. We added live chat to our home page and launched a mobile solution for smartphones. Our overall expenditure on marketing decreased and our conversion rates have increased. Leads are incubated, then referred to our "e-team" sales associates. Our bottom line has been positively impacted and our customer service has improved.