Frequently quoted as a real estate expert by media outlets including USA Today, The Wall Street Journal, The New York Times and CNBC Nightly News, Ken Baris is an accomplished broker and recruiter, innovator and technology guru. The son of the company’s founder, Ken worked his way to the top of the firm, proving himself every step of the way. The two-office northern New Jersey firm currently has close to 200 agents and employees.
Baris is a frequent featured speaker at conferences for Inman News, Leading Real Estate Companies of the World and RIS Media (Leadership Conference). He is a founding member of the Zillow Advisory Board.
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In these days when brokers are cutting costs to stay alive – at the same time trying to get more business – what are some innovative things your firm is doing on both fronts?
One thing we’re doing is pouring on direct mail. We’re contrarian thinkers, so as we see others getting rid of it, we’re increasing our use. We are more intelligently allocating our resources; we don’t have a “slash” mentality. Instead, we’ve made a very big effort to adjust where we are spending. For example, we recently renegotiated with our telecommunications carrier, saving thousands of dollars and doubling our bandwidth at the same time with an additional T1 line.
The most important thing for brokers who are struggling is to provide value to your marketplace beyond what someone typically expects from a real estate broker. Differentiate yourself in a certain area. For instance, I know I’m not going to get every single listing; what I want is for every potential seller in our market areas to at least think, “I need to speak with Jordan Baris, REALTORS®.”
Here are three specific tools we use to make sure sellers think about us:
1) We’re hosting “tax appeal” parties right now. Last year, just one of the parties helped with 68 appeals, saving over $350,000 per year for those homeowners. (With this program) we have creating raving fans! We had one letter saying, “We would not have even known (about appealing) without your tax appeal party.” Our associates do the parties in their own neighborhoods. We not only have an amazing mind share, we also have saved taxes as well as raising property values in those neighborhoods.
2) We are the first broker in the country to have an official car: Lexus. Because we want our buyers and seller to have the most extraordinary experience – and a similar phenomenal experience working with us – we are using the power of Jordan Baris to offer a discount on purchasing a Lexus. Where most REALTORS® look for what leads to immediate business, we are novel in the industry where we want people to look to us when they want to buy or sell, whenever that may be.
3) We contact our farm areas telling them about the best rates for refinancing. We tell them we know people buy and sell homes but lots of people “stick around”; this creates value.
What about your online presence?
We want to “be there” in our market area, and are launching our new Mobile Website, which will be phenomenal! Because lots of real estate searching will be via mobile devices, our new site will be a WAP mobile phone-optimized site – with the same URL as our company site, www.jordanbaris.com! That’s better than having three different types of apps for iPhones, BlackBerrys and Droids. Instead, the site will know if you are on a computer or a phone and will optimize the search based on what phone you’re on. It knows the phone! In addition, our mobile site will have full IDX capabilities and video as well. The key is to make it as easy as possible for the consumer.
We look at technology with an eye for three things: does it make you more money than what it costs; does it save you time; is it really easy to use. If it meets those criteria, then we’ll find a way to make it happen. In general, we look for great software. For example,
Issuu (a digital publishing platform) is not specifically for real estate, but we have adapted it for our use. We have used event planning software that saves time for our admins.
(Editor: with a partner, Baris developed Top Presenter™, an interactive multimedia listing presentation software product. It was licensed to Top Producer® Systems and awarded “new software product of the year” by NAR when it was launched.)
Your Website includes agent testimonials, and your Facebook Fan page includes company news as well as agent news.
We don’t want the Fan page to just be the “Ken and Jordan Show.” We have an incredible team and company, and with our new Website we’ll actually have video testimonials from our agents on the front page.
We place a big focus on recruiting. Instead of a “traditional” model, the 100 percent model or super-high splits, we look to create a true partnership with our associates where they net more with us than with other models. In addition, we give three interviews to agents before they come on board so we know they are a great fit. (Editor: the
Website even includes questions an agent should ask a broker.)
You were featured in a panel discussion, “Rethinking the Broker Value Proposition,” at the January Inman Real Estate Connect in New York City. And your Website’s “In the Press” section is an impressive posting of articles about you, the company and your innovations.
We’re honored in being recognized by the industry. I enjoy speaking; I always find opportunities for business and come back with more than I share. Last year at Inman, I was part of the wrap-up panel; I’m on the broker advisory board of Zillow. These are all opportunities to meet with the great minds of the industry.
I have the greatest job in the world – I get to work with my father and I have a heck of a lot of fun. What I’m not doing is waiting for the market! I’m doing what it takes to do well right now.
