Chris Masiello, President & CEO of BHG The Masiello Group, Featured in RISMedia’s Power Broker Report
Posted by Better Homes & Gardens Real Estate - The Masiello Group — May 19, 2015
KEENE, NH - Chris Masiello, President and CEO of Better Homes & Gardens Real Estate - The Masiello Group, was recently featured in RISMedia’s Power Broker Report in an interview on “Power Broker Strategies: Proactive about Success.” Chris Masiello answered questions about the success of his business and the strategies he uses in hiring and retaining real estate agents.
Suzanne De Vita: What steps are you taking to operate your business more efficiently this year? What areas will you invest in? Will you cut back in others?
Chris Masiello: We’re already in a pretty good rhythm around our expense cycle, but we are looking to improve our back-office systems so that we can run the engine more efficiently. We’re also in the middle of re-launching our website as a joint project with our brand to become a stronger consumer portal. We expect the hard launch sometime this summer. SD: What are your secrets for recruiting and retaining agents?
CM: There’s no one master stroke, but I know for us, we have a highly connected culture. We are connected to our offices and agents. It helps build a foundation of family. At the leadership level, everyone at the senior level is available. From a personal perspective, we do well in recruitment and retention because we have the resources of a larger company with all the benefits of a small company. SD: How are you positioning your firm for the future?
CM: Our company is very forward-thinking, our brand is very forward-thinking, and that results in a force multiplier effect. We’re looking at customer satisfaction surveys, getting customer ratings, getting customers to log on to third party sites. The industry is moving in that direction. Last year, we had a fall-through rate of 19 percent, so every two out of 10 contracts we wrote failed. The industry average is one third, so we’re well below that, but this year, we’re putting emphasis on better contract structure, contract training, and revising some of our marketing materials to better explain the home buying process. Sixty percent of the fall-throughs were because of the home inspection, which is educationally related to the buyer. We’re going to be watching a series of eBooks on the buying process, and we’re looking at producing a video to coach buyers on what the home inspection is and what they can expect from it. We say to our agents, “You guys already work hard, so having two out of 10 contracts fall through means you have to work harder. Let’s truncate that, starting with education on the agent side and then education for the consumer.”
For more information on Chris Masiello or The Masiello Group, please visit www.masiello.com.