Nobody Sees What Realtors Actually Do | Glennda Baker x Bennett Richardson
Bennett Richardson: ...we became more self-centered. We were not asking ourselves, "What does the member need?" We were asking ourselves the wrong questions, which was, "What is NAR doing today?" Realtors show up every morning unemployed; they have to bring in that next transaction. We had a Realtor in the Masters-he was literally on the phone with his broker working on an open house from the driving range when he was warming up.
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Glennda Baker: Ladies and gentlemen, my name is Glennda Baker, I'm a real estate agent in Atlanta, Georgia, and today on Glennda's Guru, I have got the Chief Marketing and Communications Officer for the National Association of Realtors, Bennett Richardson. Bennett, that was a mouthful!
Bennett Richardson: It is!
Glennda Baker: My stars and stripes, where are you from originally?
Bennett Richardson: I'm from Portland, Maine originally.
Glennda Baker: Are you the tallest person in Portland, Maine? You're like 6'6".
Bennett Richardson: It's true, just about. Just about. Although I like to think of myself as a sort of adopted, uh, Georgia person. One of my best friends is from Georgia, really love Atlanta. Only SEC football games I've ever been to are the Bulldogs, so that's why I'm an adopted team. I didn't even know there were any other SEC teams, and they were... and they were following.
Glennda Baker: That's for sure. I love it, I love it. Well, I got to tell you guys, I am so excited to have Bennett here with me, because I think that Bennett arguably has the second-most difficult job for the National Association of Realtors, because, um, you've had some lumps and bumps lately, and marketing and communications is probably a critical point that needs to be gotten out there to your membership, number one. Um, and I think that it hasn't gone well in the past. How long have you been in this position?
Bennett Richardson: Uh, I've been in the position for about 11 months, so May 31st will be my one-year anniversary.
Glennda Baker: And what was most surprising to you walking in the door? Like, and I want you to be honest, don't give me the glitter and sparkle version. I want you to tell me, like... I mean, come on, you know bad news doesn't get better with time, I always say that. It's not like you were walking into, like, you know, a cakewalk job, like it's not like everything was roses and sunshine. So when you walked in the door, like, what was the most surprising thing to you?
Bennett Richardson: It was really, I think, about just how we thought about communicating in a lot of different ways. And I think... I think two things that jump out at me from those early days: one was how we communicated, uh, with the press and with the public, and one was how we communicated with members. And in both cases-and this happens to a lot of organizations, and certainly I think it happened to NAR over time-we became more self-centered. We were not asking ourselves, "What does the member need? What does the public need to know about our members, about Realtors?" We were asking ourselves the wrong questions, which was, "What is NAR doing today? What is that next thing that we need to kind of talk at our members about?"-not talk with our members about. And so that was really the first thing that I saw and that I did, was to really tell our team that our number one value is going to be to put members first. And when I say that, it's... it's not just a, you know, tagline, it's really about: let's dig into more data, let's research, let's listen, understand what members want and need, both in terms of things they should be more educated about, but also stop sending you so many emails, sending more interesting videos of the actual people inside the building doing good work. So that really started to build a more member-centric approach to just how we talk to those members, and... and really cultivate that community was... was really front and center for me.
Glennda Baker: You know, it would be really interesting to me to test the members of the National Association, because when you think about communication and marketing, like, you got a petri dish of people. And so, do you communicate with them because they're drivers-because most of them are self-employed, and you know, they're running their own businesses-or do you talk to them because a lot of them are creatives? And you know, or are they analyticals? I got to tell you, I think that some of the analytical stuff that you send out is quite boring. So, I think that you've got to figure out a way to get me that critical information in bite-sized pieces that I can actually then deliver to my consumer, where... that's where the value is for me, because you've got amazing data. I mean, I think that a lot of members, and even buyers, sellers, and investors, have no idea the data that you're... I mean, you have the most accomplished economists. My stars and stripes, the economists for NAR are absolutely insane, and they have such great information. Why don't you get that out to us in bite-sized pieces?
Bennett Richardson: We're doing that a lot more, and so you're preaching to the choir. And that's one of the things that we noticed, is that we have this great data, but if you put it out there in a long, you know, seven-paragraph blog post or something like that, who's got time to read that? Who's got time to then read that and then go click on the report and then go look at, you know, 10 different charts? And so what we've started doing is a couple of things. Just in this first quarter, we published 80 new infographics of just single screen-put it on your Instagram, text it to your client-type of easy, usable... whether it's existing home sales, whether it's the profiles of home buyers and sellers. These kinds of big research assets that we have, we're trying to get it out there in a way that both Realtors can absorb it, but also that they can then quickly share it with their clients if it's affecting what they're doing. So, that was really important. So I totally agree with you. The other thing that we've started doing is actually making it more interactive for members themselves. So we actually launched at the end of last year a metro markets data dashboard-it's a mouthful itself-but really what it is, is just a customizable infographic where you can go into this page-it's available to all of our members, you know, for free as a part of their membership-and you can say, "I want to look at the demographic shifts in Atlanta, or, you know, in this county, or in this city, or in this state over the course of this amount of time," and it'll give you a custom infographic. You can, you know, print out or download and send to your clients, or add to that packet when you're going over, you know, listings or things like that. So again, just trying to take those really valuable things we have, like that body of research, and find ways to make it more easy to use and easy to access for our members. But we're just getting started, you know? We're just in our first quarter of this new strategic plan and doing more of this to communicate to members, but also to empower them and give them access to those tools in ways that helps them grow their business is really where we're headed.
Glennda Baker: I love that. And I would say probably if you sent out a graphic, and if the friction between you and your buyer, or if the friction for your seller is... then this is the graphic for you. And I would love to have like... because like I all the time want the data to back up what I know, and I can come up with that information because I've been selling real estate since Jesus was a baby, but you underwriting it-the National Association of Realtors underwriting the data-has such an amazing value. And I want to make sure that that not only members understand that, but also that the consumer understands that.
Bennett Richardson: Absolutely. And I think that that it's such an important way for Realtors to show that expertise, because like you said...
Glennda Baker: Realtors to show that expertise, I mean, that's... let's think through that. I think I could come up with a good marketing campaign for you on that, because when you talk about expertise, it is synonymous with the word "Realtor"-that the Realtor has the expertise that not a real estate agent, or a real estate professional, or a real estate whoever has. You are a Realtor, you have a specialized area of expertise, and you need to be able to use it and leverage it to the consumer for the consumer.
Bennett Richardson: Absolutely. And I'm glad to hear you say that, because expertise was one of the pillars of how we built our new consumer ad campaign this year.
Glennda Baker: Oh, customers, it was... you're preaching to the converted, dear.
Bennett Richardson: But it was the way that we thought about it, just like you said, is that we need to remind consumers... and for us, it was really specifically honing in on first-time home buyers, right? Those folks who are in that moment, and not even every first-time home buyer, right? Folks who are early enough in the process, they're getting serious, but not so far along in the process that they've already made a decision to work with a particular agent or a particular brokerage or go that route. And really communicate with them, tell them that story, create that aha moment around the professionalism that exists with working with a Realtor. So that's really where we went at: was showing the expertise, the preparation, the ethics, all of the elements of professionalism that come with working with a Realtor. And it was a really exciting opportunity for us. We tried to take folks behind the scenes in these ads, where you... we started... it's called "More Than Opening Doors," and we started with the beginning kind of a normal showing. But as I'm sure you've done many, many times, clients throw curveballs, right? That first-time home buyer says, "Hey, what about adding an addition?" or "Looks like there's something wrong with the plumbing." And in each of those little short films we made for the campaign, that Realtor then goes in, kind of super-Realtor mode, then goes, works with an inspector, works with another realtor, goes and sees a lender, brings in a plumber. And we really tried to show how that expertise, how that network, how that really hard work that so often happens behind the scenes that your clients don't get to see...
Glennda Baker: Right, right. And I think that's what's so challenging about communicating your value as a Realtor, is that so much of your hard work is not with or in front of clients.
Bennett Richardson: And so we tried to help fill that gap for our members in the new campaign, and really put that hard work and that expertise that's usually behind the scenes and bring it front and center.
Glennda Baker: Well, this is not your grandma's real estate. I mean, this is not a guided tour opening doors real estate anymore, like the real... because you and I both know, with search portals, they can find 123 Banana Street; they don't need me for that. There are some platforms that will give you a code; they don't even need me for access. Where the consumer needs a Realtor, where the Realtor's value is, is intrinsic and intimate knowledge of the market, their ability to negotiate the terms of a legal document, of the contract, and their ability to mitigate risk for the consumer. And really, those are the things that you are looking for for expertise in a Realtor: is, does this person... do they have intimate and intrinsic knowledge of the product and where I want to buy? And do they have the ability to negotiate the best terms for me? And do they have the ability to keep me out of problems? Because there's never a problem 'til there's a problem. And when there's a problem in real estate, it's a big damn problem.
Bennett Richardson: Absolutely. One is a big problem within the largest transaction of a lot of people's lifetime. And and that's what we found, we did a bunch of consumer focus groups that... you I'm sure you would have loved to listen into, and it was fascinating to hear where are those blind spots in the process. It was creating, as you said, mitigating risk, navigating these negotiations. We were able to shine some light on those like key moments where Realtors really show up for their clients, yeah, that's when the light bulb went off with a lot of these consumers, and they said that... that shows me how valuable that these trusted advisers can be and my partner. And so that's really why we tried to focus the campaign on those key moments behind the scenes.
Glennda Baker: You know, we had a buyer that was buying new construction, and within the body of the contract it states that they cannot sell for two years without giving the builder the right of first refusal, and they agree to sell it back to the builder at the same price that they paid. That is a wild clause! I mean, I nearly fell straight damn out of my chair. And I read it, and then I read it, and then I read it again, and I was like, "Oh, this is a problem." And and we sat our buyer down, and and they were like, "Oh, wait a minute, we didn't realize that." And that's the thing, is like people do not understand... the worst real estate agents are highly overpaid and the best ones are highly undervalued. And I think that what most people don't understand is there's a difference between being a Realtor and being a real estate agent, and that there are a code of ethics, there is a level of expertise that we have. And I want every buyer, seller, and investor to know my value not only as a real estate professional, but as a Realtor. And that's what I want... I want your messaging to advocate for me, that you should always work with a real estate agent. I was on the plane yesterday with this man, Alex-no lie, cross my heart-and he said to me... it was a long conversation leading up to this, and he goes, "I've got to ask you, you know, what do you do?" I said, "Oh, I'm in real estate, I'm a real estate agent." And he goes, "Why are you going to Austin?" I said, 'Well, I'm going to talk to real estate agents about how to implement video of their business and brand strategy.' And he goes, "Oh, I'm signing a contract tomorrow." I said, "Oh, it's your real estate agent." He goes, "I have a real estate agent, I'm buying new construction." I said, "Oh, my stars and stripes, please make sure that you read the contract front to back, that you understand every clause, because if you don't, you do not know." And I told him that story, and he was like, "Oh, my goodness!" And so he's like, "Can you send me your contact information?" I connected him... sent him my contact information, connected him with my lender. I mean, that is the thing, is like the consumer doesn't have any idea the pitfalls of real estate.
Bennett Richardson: Absolutely. And I think the the opportunity that we have, that I think we've tried to start to create with this campaign was-and no pun intended-but to sort of open the door to these exact kind of conversations, right? To encourage our members to tell those stories, right? To not be afraid to show what goes on behind the scenes, or tell that story of their first really complicated sale, or that biggest problem, or that biggest moment of anxiety that they solved for their clients. I think that those are the conversations-like the one you had on the plane-that really create that aha moment for consumers to say, "I need somebody by my side," even if it is a new construction. We bought a new construction condo, my wife and I did, with our Realtor more than a decade ago, and had huge issues with it. And he, you know, connected us with an amazing lawyer, connected us with an amazing inspector, like we would have not been able to navigate any of that had it not been for the expertise of our Realtor. And I think that those are those risks that lurk around the corner that a lot of consumers don't always appreciate. So I think telling that story is super important.
Glennda Baker: Well, and you know, it's funny, because there was, uh, some man who, uh, you know, had an Instagram about, you know, uh how he sold his house on his own and that realtors were, you know, so overpaid, and you know, he makes it sound like he's an average Joe, like he could do it with AI. And what... what these people don't disclose is that they're an attorney. Yeah. What they don't disclose is that they are an entrepreneur who has started seven businesses. What they don't disclose is that they have a team of attorneys that work for their company that they started 10 years ago that are leading them through this. They want to make it seem like that anybody can do this. And I think that that's what's most insulting to me as a realtor, is that you actually have the audacity to think that you could do this without me, because I'm the... I mean, I'm the Michael Jordan of real estate. I am, I believe that. I... I say that in all honesty. When someone doesn't list their house with me or somebody doesn't buy a house with me, I don't feel bad for me, I feel bad for them, absolutely, because I am here to save you from a three-star real estate experience. And I want to see the messaging from NAR to the consumer that you could do it alone, but why in the world would you try?
Bennett Richardson: Yeah, especially being such... such an anxiety-ridden process for so many... for so many home buyers and sellers, and being that massive size of a transaction, yeah. Like, we're not talking about going to the car lot by yourself and... and buying a car; we're talking about the largest transaction certainly of that... that moment in time, but also usually of your life. And I think that that idea of a professional, that expertise, really going into this harrowing experience for many people with so many blind spots, right? Whether it's about what you know... what is my realm of negotiation on contingencies, on inspections, on terms? Uh, there are so many variables. And I think that really bringing that peace of mind, bringing that... that kind of resolution moment was something we tried to do throughout the campaign to really show that, hey, if you have this trusted professional by your side, then you can really navigate even the hardest, most complex moments in that... in that process.
Glennda Baker: So Bennett, I got to ask you: what is your biggest challenge right now?
Bennett Richardson: The biggest challenge is, I think it's really about connecting with our members wherever they are and really showing up for them everywhere. I think this is the biggest challenge, is that we want the progress that we're making across the association to be felt by as many of those 1.4, 1.5 million members as possible. We're not going to get them all to open the same email, right? We're not going to get them all to follow the same Facebook or follow the same Instagram-nor should we. There's a really diverse member group there, right? You've got folks who are all over the country, some who are... you know, lifelong professionals, some who are just joining the industry, uh, some who care a lot about the advocacy work that we do, some who are really focused on being on the cutting edge of technology. And so one of my areas of focus has just been, again, putting the member first: has been to say, we need to start slicing and dicing this in a really precise way and start to figure out, if you care most about how we're promoting and furthering kind of technological advancements in real estate, and you're a social media person, how do we have that conversation? How do we reach you and influence you and educate you on the... the tools and opportunities you have access to? If you're an advocacy person, uh, and you really enjoy and appreciate and value the... the lobbying progress and the policies that we're able to champion to protect Realtors, and you're more of an email newsletter person than you are, you know, a social media person, we need to make sure that we show up for you that way. And so I think it's really about better understanding our members, showing up for them in all these different ways, and just getting better at communicating across all those different channels. I mean, I think... and that's... that's what's... there's such a human side to what we're doing, because it's really about: is this... like, we should want to come to our own events. We should want to read our own emails, right? And... and it's such a basic thing, but really thinking about it that way and saying, "If I didn't work here, would I want to watch that video?" And if the answer is no, then we got to do something different. And so that's really what, um, what I've been focusing on, is just how do we show up for as many of our members as possible on all the topics they care about and all the places where they want to hear from us.
Glennda Baker: So when I do my videos, I am looking to do one of three things, and that is: inspire, impact, and inform, okay? So that's what I want to do, that's the verb of what I want to do with my videos. And I want to do it by being real, relatable, reliable, and relevant. And I think that for the National Association of Realtors, that is a good blueprint, because I think that not only do your members, but also the consumer wants to see that reality of real estate, they want to see that human side of real estate. And I think that you have a treasure chest of stories... now, I'm not telling you how to do your job or run your business.
Bennett Richardson: Hey, I'll take it.
Glennda Baker: You know what, this is the way I look at it: people bite into stories, they bite in. I'm... I'm not Selling Sunset. I'm not walking in some septic field in stilettos. I mean, I'm not getting the rat out of the attic in my $5,000 dress, like... but I'm prepared to go get the rat out of the attic if that's what I need to do to close the deal. And I think that you have a treasure chest of stories from Realtors all over the country that you could implement into a video series that: "This is a Realtor, this is the story of a Realtor." And I just... the reality of a Realtor, I just would love to see that, because someone in your audience-whether it's a member or a consumer-is going to see themselves in that story, absolutely, in that video. And I think that that is... and I... and you, unlike any brokerage or any company, you literally have 1.5 million people doing stories every day of... of their career. And you have years and years and years of it, and I just think that it's such an opportunity for... for the organization, for... and for people to see us and see our value.
Bennett Richardson: Absolutely. And and I... I love the... the series idea. We've been trying to do more of the storytelling, uh, every day. And and the thing that's exciting is there's so many ways to approach it and so many kinds of stories to tell. Just, you know, just on the, um, the sports side of things, just as an example, we had a Realtor in the Masters, which... which is an amazing story. This young man won one of the mid-amateur tournaments, uh, which is... which means he got an automatic bid to play in the Masters and play in the US Open. He was literally on the phone with his broker working on an open house from the driving range when he was warming up. Uh, so we... we profiled him. Our, you know, content channel, Realtor News, actually got cited in ESPN, uh, which was... is an amazing thing to see. We had a Realtor win a silver medal in the Olympics for the... the first mixed doubles curling team, uh, for the US. We had a Realtor finish in the... I think the top 50 or so in the Boston Marathon. But there are these... and that's... and that's just sports, right? And that's just the past six months. I mean, there is the amazing stories in so many places that were... Real stories, real...
Glennda Baker: Churches. I love it, love it. That's why she's the best, y'all. Look, I'm just telling you, if you do that, I definitely want some credit on this.
Bennett Richardson: Hey, you're episode one.
Glennda Baker: No, I mean, I... do, I'm... I'm so invested in... in our industry and leveling up our industry. I want people to... I love real estate, I do. It is absolutely my passion. It is, a girl that barely graduated from high school, the last kid picked on the playground, it has given me a life that I could not have dreamed of. And so for me to... to... I want everybody to seek a love and passion over a love of that... that many Realtors that I know, we're not doing it for any other reason than to help people build generational wealth, find the home of their dreams, their next home, and their first home. And I just want... I... I don't want anything to happen to you, I'm so invested in our association being such a foundation of our industry. So I'm here to help you, Bennett. I cannot believe I probably talked more than you. I'm going to have to zip my mouth, because...
Bennett Richardson: No, I... It is my podcast, my name is on the door.
Glennda Baker: It's true. And you are the guru.
Bennett Richardson: That's true, it's true.
Glennda Baker: But I mean, if there was one thing that maybe I didn't hit on, which I can't imagine what that would be, but if there was one thing I didn't hit on that you want people to know about the... the marketing, the communications of the National Association of Realtors, what is that? I mean, what do you want my audience to know?
Bennett Richardson: Well, I mean, I think it's a couple things. I mean, I think first and foremost, um, we have an amazing group of people as a part of this transformation of the association. And I mean, we have, I think about 30% of our staff at the association is new, over the course of the... this past year and change, um, we have an amazing group of people showing up every day, working really hard to show up for this amazing membership. A... and you know, what you were describing a moment ago-you didn't ask me this question, but you described the easiest part of my job, which is: it is... it is such a joy to show up every day and work hard for this community of entrepreneurs, of pillars of their community, who help their clients achieve the American dream every single day and have to rebuild their business every single day. I had Realtors show up every morning unemployed, and they have to bring in that next transaction. And so I think that's, you know, if there's one thing I think that... that your community can feel good about, it's that NAR is... is thinking about you every moment of every day, and we have a group of really smart, hardworking people, um, trying to move this industry and move this association in the right direction.
Glennda Baker: Well, I am so excited to have had the opportunity to sit down with you, Bennett. Thank you for your time and your talent and your expertise. I am honored that you were here. I got to tell you, we're here in Austin together, and it was so funny, this morning's sessions, I was sitting in that room and I was... because I'm going to speak later today, I was sitting in that room and thinking to myself, "These people will not know what hit them when I sit down up there," um, because it... it's a little stuffy in there. But I'm so glad that I kind of got to take the, uh, stiffness out and have, like, a real conversation with you. So thank you so much for being so transparent, thank you for the transformation that you are leading at our National Association. I am so proud of what is to come, and I am so excited. So thank you very much.
Bennett Richardson: Well, thank you. And thank you for everything you do for Realtors. I mean, like you said, you're informing, impacting, inspiring our members every day, and we... we appreciate it. You're... you're a great gold standard in the industry, so thank you.
Glennda Baker: I think that's what got my gold stars on today. You got the gold! Ladies and gentlemen, my name is Glennda Baker, I'm a real estate agent in Atlanta, Georgia, and on this episode of Glennda's Guru, I had the opportunity to speak with Chief Marketing and Communications Officer for the National Association of Realtors, Bennett Richardson. And y'all, we had a lot of great ideas-not only his, but mine too. I can't wait for you to watch this episode. See ya!