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Berkshire Hathaway HomeServices Launches Industry-First Program Designed to Eliminate the Real Estate Loyalty Gap
The sophisticated program lays out a clear path for real estate professionals throughout the industry to create a highly successful business
Irvine, Calif., March 22, 2021 – Berkshire Hathaway HomeServices, one of the world’s fastest-growing residential real estate brokerage franchise networks, held its annual convention, virtually welcoming thousands of Berkshire Hathaway HomeServices network members from around the globe. The convention celebrated a successful 2020 year with over 360,000 transactions and nearly $140 Billion in sales volume. The global company’s CEO, Chris Stuart unveiled a transformational new real estate platform, designed to exponentially increase the performance and productivity of the network's brokerages and their agents.
The National Association of Realtors stated in a recent report on Buyer and Seller trends, that 91 percent of buyers surveyed said they’d utilize the same real estate agent again on their next transaction, yet only 13 percent of those that had previously transacted actually used the agent from their previous transaction. The 78 percent difference is what Chris Stuart, CEO of Berkshire Hathaway HomeServices has defined as the Real Estate Loyalty Gap. This gap in consumer loyalty represents the single greatest economic threat, and therefore opportunity, to the individual agent and must command more of the industry’s focus moving forward. Further, Stuart explains that the Loyalty Gap hasn’t been created by a lack of awareness given that most consumers receive countless solicitations and personal promotional material from agents regularly. Nor is The Loyalty Gap a function of a lack of representation by agents given that 90 percent of all buyers and sellers are represented by an agent on transactions.
The elusive quality that might be missing from the industry’s value proposition, Influence. Stuart collaborated with a very diverse team of colleagues and top-producing agents, teams and leaders from across the global network to carefully design and created the exclusive platform, The Real Estate I.Q. System. The System combines the Berkshire Hathaway HomeServices brand, marketing resources and technology with progressive education, training, coaching and consulting. The System and its related Influencer Network, have been purposefully created to elevate its network agents’ range, reach and influence (the “I” in I.Q. stands for Influence) by providing them with the essential tools and guidance to build stronger, and more valuable, long-term relationships with clients and prospects.
“It is incredibly fulfilling to finally see this vision come to fruition. I’ve been envisioning and planning for the execution of this platform for nearly a year,” said Chris Stuart, CEO of Berkshire Hathaway HomeServices.
“The strategic content that Berkshire Hathaway HomeServices’ network agents will have access to through the Real Estate I.Q. System, along with professional development, is unprecedented,” says Allan Dalton, SVP, Industry Research and Development for Berkshire Hathaway HomeServices. The former CEO of Realtor.com enthused, “After all my years in the industry I have never come across such a concept that will set real estate’s agents up for success and when utilized properly, will contribute to closing the Real Estate Loyalty Gap and help agents achieve forever success, as a Forever Agent.”
The convention also featured a performance by eleven-time Grammy-award-winning artist, John Legend which benefited The Sunshine Kids Foundation, raising over $100,000. Berkshire Hathaway HomeServices network agents who were in attendance had the opportunity to participate in unforgettable general sessions, world-class entertainment, 30+ live and on-demand university sessions, an incredible virtual exhibitor showcase, keynote presentations, digital networking events and live Q&As.
For more information visit: www.bhhs.com
About Berkshire Hathaway HomeServices
Berkshire Hathaway HomeServices is one of the world’s fastest-growing residential real estate brokerage franchise networks, with more than 50,000 real estate professionals, nearly 1,500 offices throughout the U.S., Canada, Mexico, Europe and the Middle East, and more than $138 billion in real estate sales volume. The network, among the few organizations entrusted to use the world-renowned Berkshire Hathaway name, brings to the real estate market a definitive mark of trust, integrity, stability and longevity. Visit: www.bhhs.com