FREQUENTLY ASKED QUESTIONS
What is Berkshire Hathaway HomeServices? Berkshire Hathaway HomeServices is a real estate brokerage franchise network built for a new era in real estate. The network is among only a few organizations entrusted to use the world-renowned Berkshire Hathaway name.
Who is Berkshire Hathaway? Berkshire Hathaway Inc. is a worldwide holding company based in Omaha, NE. Its chairman and CEO is Warren Buffett, often referred to as the “Oracle of Omaha." According to TIME magazine, Warren Buffett is among the world’s most influential people. Berkshire Hathaway is the No. 4 company in Barron’s 2017 ranking of the world’s 100 most respected companies. It also ranks at No. 4 in Fortune magazine’s 2018 survey of the world’s 50 Most Admired Companies and is No. 24 in the 2018 Harris Poll Reputation Quotient® Rankings of the 100 Most Valuable Companies. Berkshire Hathaway owns more than 55 companies, including GEICO, Fruit of the Loom, Dairy Queen, Helzberg Diamonds, Benjamin Moore Paints, NetJets, Business Wire, See’s Candies and Jordan’s Furniture.
How will this help my business? It starts with the brand. Berkshire Hathaway HomeServices is a universally recognized and respected name. The brand was awarded “Real Estate Agency Brand of The Year” and “Most Trusted Real Estate Brand” in the 2018 Harris Poll EquiTrend Study. These results and others show the Berkshire Hathaway HomeServices brand resonates incredibly well with real estate consumers. The brand is progressive, powerful and creates momentum. That’s great for business.
What will Berkshire Hathaway HomeServices offer in terms of real estate technology? Berkshire Hathaway HomeServices offers a robust suite of real estate tools and resources through the Global Network Platform (GNP). Tools within the GNP have been developed to help capture, incubate and convert on line leads. Just as important, the platform retains the most popular components, including national and franchisee websites, CRM, Lead REsource lead management, LearnCenter REsource for ongoing education, Social Media REsource for social marketing solutions, Commercial REsource portal and more. Among related highlights:
• The Berkshire Hathaway HomeServices mobile application includes property search and lead- management capabilities for network sales professionals. • Marketing REsource is a powerful marketing tool to create, personalize, share and print eye-catching collateral in just minutes. Created exclusively for the franchise network, Marketing REsource lets sales associates: o Store and access marketing content in a centralized location
o Track how recipients engage with marketing pieces through detailed metrics reporting
o Quickly populate a property template with photos and text through MLS integration
o Create and manage email distribution lists to efficiently send eCards to targeted audiences
o Print on demand for instant marketing collateral, including flyers, door hangers and more
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FREQUENTLY ASKED QUESTIONS
Is there a Berkshire Hathaway HomeServices national website? Yes. The website, berkshirehathawayhs.com, features vibrant imagery, clean and sensible navigation and a proprietary property-search system called "Inside Access," which provides users with a complete scouting report on any community right down to the ZIP code and trend directions. Inside Access is powered by actual MLS data from throughout the U.S. – the cleanest, most accurate data available. Through Inside Access, consumers also gain an accurate price estimate of the home they want to buy or sell, plus current information about surrounding neighborhoods, schools, the economy, the environment, quality of life, drive time and much more.
Part of the Berkshire Hathaway HomeServices' website is dedicated to the network's most amazing properties listed for sale. Through bhhsluxurycollection.com or through the luxury link under the navigation tabs, you will find a page dedicated to showcasing luxury properties from around the nation that have been submitted for consideration from their network members. This page also offers a search widget to assist consumers in connecting with a network agent who has earned the Berkshire Hathaway HomeServices Luxury Collection designation.
Is Berkshire Hathaway HomeServices a global brand? Yes. Early in 2016, the network launched plans to expand internationally with the website being its first gateway to key global markets. Thanks to sweeping upgrades, berkshirehathawayhs.com became the industry's first site showcasing to the world the complete property database in all markets served by Berkshire Hathaway HomeServices network members, including franchisees’ listings. The site translates listing information in 12 languages, 49 currencies and two units of measure. The brokerage network began naming global franchisees in 2018, starting with Berkshire Hathaway HomeServices Rubina Real Estate, an award-winning brokerage based in Berlin, Germany.
Is Berkshire Hathaway HomeServices active in social media? Berkshire Hathaway HomeServices has a robust presence across several of the most popular social media platforms. Its objective with each account is to promote the brand and new franchisees, to drive thought leadership and to inform friends and followers about real estate trends and opportunities. Friend and follow the network here: • facebook.com/BHHSRealEstate
• twitter.com/BHHSRealEstate
• instagram.com/BHHSRealEstate
• snapchat.com/add/BHHSRealEstate
• pinterest.com/bhhsluxury
• linkedin.com/company/Berkshire-Hathaway-HomeServices
In addition to the above accounts, the network also has a brand blog, REthink Report, which is an online publication written by innovators, thinkers and leaders from the network. For more information, visit rethinkreport.com. 2
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FREQUENTLY ASKED QUESTIONS
Does the network have advertising support?
Yes. The advertising agency of record is Gary Vaynerchuk’s VaynerMedia. The firm is known throughout the world for its ground-breaking advertising strategies leveraging social media and over-the-top media services, and for helping consumer-centric companies to exponentially increase their range, reach and influence. VaynerMedia and Berkshire Hathaway HomeServices have developed an unparalleled advertising experience that is capturing the attention of millions of consumers. Lifestyle videos and other creative assets are highly personalized – delivering messages that consumers are most interested in – and also highly advanced, with the most innovative SEO, SEM and retargeting strategies available. Of course, Berkshire Hathaway HomeServices provides franchisees with an array of creative assets for use locally.
Is there a luxury homes program? Yes. Separate marketing programs for luxury homes and resorts, the Luxury Collection and Resort Properties International, are available for high-end and resort properties. Additionally, sales associates will have the opportunity to qualify for the network’s Luxury Sales associate designation.
What type of network service will be available through Berkshire Hathaway HomeServices? Berkshire Hathaway HomeServices’ Network Services group helps franchisees use network tools and services to drive financial success, sales associate recruitment and long-term growth. A business consultant is assigned to transitioning franchisees as part of the conversion process. Business consultants work with franchisees in areas including business planning and monthly trending, GNP engagement, LEAD Recruiting Program engagement, business development/lead management, leadership and management training, prospecting and more. The Global Network Training Department, part of Network Services, provides a rich training curriculum through LearnCenter.
Is there an upcoming Berkshire Hathaway HomeServices sales conference? Yes. The 2019 Berkshire Hathaway HomeServices Sales Convention, with its “ALL IN” conference theme, will be held at Caesars Palace in Las Vegas March 10-12. It will feature multiple keynote speakers and a private concert by Gwen Stefani. We encourage everyone to attend the conference and take part in the Berkshire Hathaway HomeServices experience.
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FREQUENTLY ASKED QUESTIONS
Why did we switch brands? The Berkshire Hathaway name is revered worldwide and has stood for strength, integrity and trust for more than a century. Its financial strength is unquestioned. Over the past year, we have had the opportunity to evaluate our business and our relationship with our brand. We spent a great deal of time and consideration evaluating which brand affiliation would be the best fit for our company and sales associates. It became very clear that if we wanted to offer our sales associates the most exciting opportunity for growth, we needed the right brand relationship; we have found it with Berkshire Hathaway HomeServices.
Did you sell the company? We have not sold our business, and we have no plans to sell it. We have not changed our ownership, and we have no plans to change it. We are the same company with the same dedicated staff. We intend to increase our staff to take on new initiatives as a result of our franchise relationship with Berkshire Hathaway HomeServices. Our culture and commitment to you will not change, and we expect to expand and improve the tools, systems and environment in which we all work.
Will we keep the Commonwealth name? Yes. We will become Berkshire Hathaway HomeServices Commonwealth Real Estate starting November 1, 2018.
Is this change going to cost me money? For the transition, you will be provided company-paid business cards (250), name badge (1), name riders (5) and open house signs (3). For any customized sales associate marketing, please see your sales manager (i.e., custom sales associate yard signs).
Why are you waiting until November? We will fully honor our commitment to our current brand through October 31, 2018. We will work with Berkshire Hathaway HomeServices daily to make the transition a smooth and successful one starting November 1.
What about relocation and referral business? Berkshire Hathaway HomeServices’ Referral Channel Development Department focuses on driving referrals from more than 25 relocation-management companies to network franchisees. The department also oversees the placement of broker-to-broker referrals across the global network. Additionally, Berkshire Hathaway HomeServices maintains relationships with strategic affinity-referral clients, which drives more business to network members. These alliances include companies of the Berkshire Hathaway enterprise such as Geico, Benjamin Moore, Fruit of the Loom and NetJets, plus organizations such as Salesforce, Prudential Financial, Paragon Home Resources and HomeStory. Finally, through its relationship with HomeServices Relocation – a sister company – it provides full-service relocation management for domestic and international transferees creating opportunities for relocation sales professionals.
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FREQUENTLY ASKED QUESTIONS
Why can’t we just stay the way we are? We think a quote from Warren Buffett sums it up: “I think you want to join a company that’s going to be around forever. Berkshire Hathaway is built to be forever, it’s true of all our businesses that we own. You want to be part of an organization that’s not looking to sell out next week or next month or next year or where the place will crumble when the founders leave. In terms of permanence, we can't be beat. Not only can we not be topped by anyone, we can't be matched by anyone.”
How does this legally impact our existing seller/buyer contracts? All customer agreements executed before midnight on October 31, 2018 will be done so under our trade name “CENTURY 21 Commonwealth.” Because we have no ownership change, all agreements will remain effective after October 31, 2018 and require no changes or additional wording. As of November 1, 2018, all customer agreements will be executed under our new trade name “Berkshire Hathaway HomeServices Commonwealth Real Estate.”
When will we begin using the new Berkshire Hathaway HomeServices Commonwealth Realty yard signs? Beginning November 1, 2018, we will transition all yard signs to the new Berkshire Hathaway HomeServices Commonwealth Realty yard signs.
What happens to all my data in Zap or Business Builder? You will be provided with instructions and training on backing up your data to facilitate the transition to the new Berkshire Hathaway HomeServices technology platform.
How will I inform my clients and sphere of our brand change? There is a sample letter in your packet today and we will provide you with additional electronic communication tools suitable for sharing with your clients and sphere.
Will I have to sign another independent contractor agreement? No. All independent contract agreements are affiliated with our existing corporation Commonwealth Realty Group, LLC.
Will our current technology platform tools still be available? There are no plans to eliminate any of the technology currently being provided by third-party companies. All CENTURY 21 branded tools will be upgraded and expanded to the premium Berkshire Hathaway HomeServices systems. Berkshire Hathaway HomeServices has made an ongoing commitment and is currently engaged with some of the most innovative technology companies to find the best tools, systems and marketing programs to help network brokers and their sales associates succeed now and in the future.
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FREQUENTLY ASKED QUESTIONS
I have been on track for Centurion this year, does BHHS have a
Does Berkshire Hathaway HomeServices allow us to personalize our sign panels and riders?
Yes. Sales associates can purchase and customize their own sign panels with their picture and number.
We have a Berkshire Hathaway HomeServices office in our town. Will we be merging? Most Berkshire Hathaway HomeServices brokerages are independently owned and operated. We look forward to working closely with these companies to grow the brand in the marketplace.
Will this affect the current office operations, processes and procedures? There are no plans to make any changes in this area; however, we are always looking for ways to improve and provide the best services to our sales associates and employees.
Does Berkshire Hathaway HomeServices have a national affiliation with a charitable organization?
Yes. Berkshire Hathaway HomeServices has a national affiliation with the Sunshine Kids, and locally supports the Dana Farber Cancer Institute in Boston. The Sunshine Kids is an organization that adds quality of life to children with cancer by providing them with exciting, positive group activities so they may once again do what kids are meant to do…have fun and celebrate life. Our brokerage will continue to raise money for Easter Seals through the end of 2018 and will focus our fundraising efforts for the Sunshine Kids in 2019.
I qualified for the CENTURY 21 International Convention or Top Agent retreat. Will I get credit for this? Yes, if you qualify for Berkshire Hathaway HomeServices’ invite-only event for award winners, you will receive credit.
I have been on track for Centurion this year. Does Berkshire Hathaway HomeServices have awards for performance and will they honor our production this year? Berkshire Hathaway HomeServices has multiple awards for performance and Commonwealth sales associates will be eligible for many based on their 2018 production. Since Commonwealth sales associates are using previous production, they will not receive awards on stage at the Sales Convention but will receive the award, be able to publicize the award level and receive recognition on stage at the 2019 Commonwealth Awards Event.
What are my next steps? • Reference the training schedule in your packet for upcoming conversion training • Make sure to fill out your order form to receive company-sponsored badges, business cards, yard signs and panels. All forms must be submitted by October 1, 2018. • Check your company email frequently. We will share a lot of exciting news and information in the coming weeks that you won’t want to miss. • See your office administrator/manager for any additional questions or concerns
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