UW Social Media in Business Small Business Case Study Veritus Realty Group Chuck Reiling 3/29/11

SITUATION Chuck Reiling – xGeologist, xTech Exec, xConsultant –details (too many) at Now Realtor and Owner/Broker – Veritus Realty Group Partnered with wife, Diane – “the family business” Referral business model – all over the Seattle/Eastside area Network of 850 contacts – 100 As, 250 Bs, 500 Cs Active ‘Contact, Care & Community’ programs Websites: – – Blogs: – – – Monthly e-letter: Reiling’s Real Estate Market Report

CHALLENGE 2003 – 2007 –Built up business to average 20 txns/yr –Lead eastside referral agent for Redfin – 2006 –Engaged with all new e-real estate ventures 2007/2008  –Mortgage market & Stock market crashes –Escalating issues – qualification, confidence, equity gridlock 2008 – 2010  –Business average 10 txns/yr, 25% lower price pt –No market recovery in sight –Need 2 nd source of leads Purchased leads don’t work Limited funds for marketing

ACTION Formed Veritus Realty Group to reduce brokerage expenses Consolidated branding to ‘Greater Seattle Homes’ theme Started Facebook business page Built ‘Greater Seattle Home Search’ site with listing indexing Tried Google Direct ad words – good click-thru/poor conversion Rebuilt GSHS site –Bigger buttons – Parker LePla advice –Better calls to action Trying some Craigs List ad techniques Consulting assignment to Windermere Solutions –Learning new stuff Need to re-direct blogging to Gen Y/Echo Boomers

RESULTS Business still slow; seasonally picking up Web traffic improving, conversion to leads still way too low TBD Problem Statement: Need to dramatically improve hit rate and engagement rate with minimum expense Expected Outcome: More web-sourced leads and expanded business volume Contact: Chuck Reiling, (206)