March 1st 2008
Bug! Real Estate Has Shown Up In The East Bay Marketplace!
Who could ever imagine a real estate company that is operated out of a VW Bug - Bug! Real Estate is doing it right now?
Wallene Nelsen, the owner of Sycamore Creek Mortgage in Danville is the newest franchise owner for Bug! Real Estate. Her office is located in the Livery in Danville, but her real estate business is actually run out of a VW Bug that has been branded in an unforgettable manner! Bug! Real Estate is the brainchild of Kevin Seney out of Coronado, California - right next to San Diego.
Ms. Nelsen embraced the vision of Kevin Seney, the CEO of Bug! Real Estate. Mr. Seney started Bug! Real Estate with a mission to deliver a new real estate experience. If he could pull it off the company would be the first real estate company to break the mold of the current real estate business models. Mr. Seney says, “Today’s real estate companies don’t vary in the way they’re branded, how they advertise or how they service the customer. When you see something like that in the marketplace, that spells opportunity!” Ms. Nelsen has latched onto that opportunity.
Mr. Seney has witnessed how much money agents waste on marketing. “They run their $2,000 to $3,000 ad, and they don’t get any calls from it,” he says. Seney’s intuitions were confirmed when he read the Purple Cow by Seth Gordin, which emphasizes that advertising doesn’t work anymore, and it hasn’t for years.
Seney says the only three relevant factors in home selling are putting a sign in front of the home, putting the home on the MLS and pricing it right. “If you price the home at market price, it will sell,” he says. Without a need for marketing, Bug! has eliminated the expense from its budget and is a more efficient company because of it. We will see if his theory holds true in the current market of homes taking two to three months to sell.
The other major costs for real estate companies is overhead. “I’ve surveyed hundreds of buyers, and very few ever meet agents at their office,” he says. “Buyers either meet at the property or sign the papers at the mortgage or title company.” In a laptop-friendly, work-from-home business model, the majority of agents use the office only for meetings. That’s why Bug! agents work virtually. Using the latest wireless technology, agents have full access to the MLS and the company’s intranet via their wireless laptops and cell phones.
Mr. Seney’s last hurdel in getting his company out to the marketplace was creating a brand. While Seney isn’t a big supporter of traditional advertising, he is a firm believer of creating a unique brand. “In business today, you have to stand out in an amazing way, and if you don’t, you won’t get any business,” he emphasizes.
So Bug! is the “purple cow” in a herd of herfers! In fact, Bug! bills itself as the no-frills, no-hype real estate company, making it a fun, friendly real estate brand like nothing else that exists today. To live up to that image, all Bug! agents drive the VW Bug, a car that not only represents a casual and fun experience, but it’s also an worldwide brand already. “And by using the VW Beetle as our delivery vehicle for this brand, we get to borrow that history,” says Seney.
Bug! agents drive around with the company’s logo on their vehicles, so the cars actually double as billboards. “You see them everywhere because they’re so recognizable,” says Seney, “and that’s the essence of what we’re doing from a marketing standpoint-we’re famous without much advertising.”
Having launched in February 2007, Bug! is going strong. It has opened four new franchises, as well as one regional office, and receives 100 inquiries per month from eager real estate brokers who love the Bug! model and want to open a franchise. It looks like Seney’s plans to turn the traditional real estate models upside down wasn’t such a bad idea after all. I will keep you posted on their progress, and how Ms. Nelsen’s Danville rolling Bug! Real Estate business turns out. We wish them well, as the face of real estate continues to change. Until next time…Any comments???
10 Comments »
Kevin Seney on 01 Mar 2008 at 4:48 pm #
We are very excited about our recent progress in the Bay Area. Wallene Nelsen has been with us since the beginning as a key advisor on this project. I was only natural to award Wallene the Danville Franchise. Last week I met with with Wallene and Chis Siow, in San Francisco, as they have determined that working together across the bay will be of mutual benefit for promotional reasons, and for opening up referral opportunities. Chris Siow is our San Francisco Regional Director. Each office we open, creates a marketing synergy, as we expand our network across the USA. I am especially proud of our Bay Area Team, and expect some amazing results in 2008. Thank you Jim! KS
Patti Barrett on 02 Mar 2008 at 3:44 am #
I had the pleasure of talking to a friend that lives in San Francisco. She is a retired Real Estate Broker. We were talking about cars and the business…so, I told her I purchased a Bug! Real Estate Franchise.
My friend was stunned, like those little cars that look like lady bugs that I see driving around here? Yup, Barb, those are just like my cars!
So, Wallene, you and Chris are making a visual impact and becoming well known….one more step to famous!
the PS….I live in Colorado and Love my BUGS!
Kevin Seney on 03 Mar 2008 at 4:15 pm #
We are always amazed at how quickly we become known in a new market. I was in the Denver airport several weeks ago, wearing my “Bug!” sweatshirt, when a young lady came up to me and said, “We see your cars everywhere in San Diego.” This is amazing, as we only have 1 or 2 cars, in San Diego, as most of our agents and cars are in Coronado. So, only 2 cars in a population of over 2 Million are noticed. Also, Chris only has 3 cars in San Francisco, in a population of nearly 1 Million, and in just a few short months, he is already creating a buzzz.
Congratulations to all on our amazing success… KS
Wallene Nelsen on 03 Mar 2008 at 11:49 pm #
I found this as an opportunity to expand my business and hire agents without the added expense of expanding my office space. The Bug Real Estate is such a unique way to market our business and it is actually fun to have the kind of exposure with such a cleaver marketing tool. The lady bug! This is an great addition to my already establish mortgage business and it is a prefect fit. Since I have been driving the Bug I get some wonderful responses to the
concept and I am very excited to be on the ground floor of such an opportunity as “Bug Real Estate”.
Chris Siow on 04 Mar 2008 at 12:29 am #
Real Estate business is a people business. Any agent who wants to be successful needs to have a big people network. By driving the lady bug VW, it has automatically turn you into a subject that you can talk about with just anyone you meet. Isn’t it nice that an agent suddenly has become a human magnet that people will feel comfortable talking to.
I am the owner and regional director of Bug Realty San Francisco. I am looking forward to work closely with Wallene Nelson, Bug Realty Danville franchise owner, to build a strong Bay Area team.
Thanks Patti for your comment.
Jim Walberg on 04 Mar 2008 at 5:41 am #
WOW! It appears that Bug! has created a significant branding even though it has just been launched. Maybe it is the sweatshirts that you are passing out. I even saw a Bug! drive me today in Danville. I could not believe it since you just introduced me to this branding! Congratulations on the launching of a real estate company “purple cow”. I can’t wait to see how it gains momentum and sweeps the country. Keep me updated.
Jim Walberg
Kevin Seney on 04 Mar 2008 at 6:24 pm #
I am blessed to have created a “people magnet” that attracts only the best people! There are many quotes on doing what you love, and loving what you do. That is what Bug! is all about…
Thanks to my awesome team of Bug! Agents.
Kevin Seney, Founder & CEO
Bug! Realty USA, Inc.
Jim Walberg on 07 Mar 2008 at 3:09 am #
Hi Kevin, keep me posted on your progress. I would be willing to contribute as to what is working for the success of our company in the Caribbean. Jim@JimWalberg.com
Kevin Seney on 09 Mar 2008 at 3:34 pm #
March 7 to 9 we hosted our First Annual Franchise Owner’s meeting in Napa, CA. All franchisees attended. Our workshop on Saturday concluded with several modifications to our operations manual, and a great new tag line: “Changing Real Estate Forever… One Family at a Time!” which will appear on the back cover of our franchise sales brochure. Wallene Nelsen of Danville, CA is looking forward to introducing several new ideas into the local market. KS
Jim Walberg on 09 Mar 2008 at 7:16 pm #
What an exciting time it appears is happening at Bug! Your new tag line developed at your Owner’s meeting is very appropriate for the branding of your company. Again, I look forward to how things unfold for you.