How One Lead Changed One Agent’s Career … and Life

Provided By Blog.KW.com

Not too long ago, $80,000 would have been about four years’ worth of income for Connie Austin. And in her first years in the real estate business, it would have been more like eight years’ income. But since joining Keller Williams, Austin landed that much in just one deal as both the listing and buying agent on a $1,380,000 home.

“I don’t think I felt anything at first; it took a while,” said Austin, who is part of the Keller Williams Realty Experience market center in Murray, Kentucky. “My operating principal and my team leader were initially more excited than I was. Some of them have been in this business way longer than myself, so now it’s really sunk in, and it’s been a huge blessing for us.”

That check, $80,136.35 to be exact, could not have come at a better time for Austin and her family. When her husband became sick and unable to work, the Austins faced dire financial troubles. In no time at all, their savings was drained, and they had to move out of their home. The Austins were living in less than desirable conditions, and the only way Connie could get to appointments was in an old black pick-up truck with tires in such bad shape that she had to carry an air tank to fill them up every time she had to go back into town.

“I struggled for two years, and then Keller Williams came along and things got a little easier,” she said. “Aside from this deal, Keller Williams has allowed me to come home to a home, have a reliable vehicle, pay my bills and put money back in my business. I feel like for the first time that I have a business and that I have control over it. If I get leads and don’t work them, it’s my own fault, so I do the best I can to follow up on everything.”

In the case of the million-dollar listing, Austin relied on Keller Williams Realty’s My ListingsMy Leads – KW.com’s lead-routing system designed to route Internet leads directly to the listing agent – to secure both ends of the transaction. The listing involved a partnership of two sellers, only one of whom Austin knew. Both of the sellers had relocated to California, which complicated the process. Four different buyers made offers on the property, but it was the one who came through Austin that was the right one.

“Oddly enough, the one buyer who was my lead, who had seen my marketing online and how it fed back to me, he had the right mentality. He was out for a win-win deal, which made it easy on my part.”

Ultimately, the deal took only two days, one of which included an eight-hour conference call to close; due in part to the ease and convenience of the Keller Williams myTransaction paperless program, which allowed the buyer and the sellers to reach across time zones and state lines to sign all the necessary documents quickly and painlessly.

“I love the paperless program,” she said. “It’s sped up my business. It’s like instant gratification. I’d say 85 percent of my clients are on the paperless program, and once I got them to try it they never went back.”

Another element of Austin’s success is her commitment to learning. She sets aside at least 30 minutes each week to take part in a class while also taking advantage of audio education while she’s driving or doing dishes.

“Keller Williams is amazing,” she said. “I’ll never go anywhere else. When I was in my past life, I had no idea this was out there. It’s a blessing and a half. Just believing that I got that kind of money all in one deal makes me want to go out and find another one.”

How to Launch a Successful Real Estate Brokerage in Today's Market

Provided By KW Blog

rofitability is a big deal for all real estate offices. But perhaps nowhere is it more critical than in the launch phase. Start-up costs are inevitably high, validity in the marketplace is still largely undetermined and people question whether the business is going to take off. These were all challenges The Fairfax Capital Properties market center faced when  launched in 2011.

From the beginning, the market center fit the bill of underdog. During the pre-launch phase, they underwent ownership changes, lost some of its original agents and saw two different team leaders come and go. Then came a ninth-inning rally in the form of Matthew Sutter, an unlikely savior since he had never been within a thousand miles of Fairfax, Va., prior to interviewing for the team leader job. Once he landed the gig, he left Austin, Texas, and arrived in Virginia just in time to turn things around for the market center.

“My first day in the role was the day we opened our front doors,” Sutter says. “Being the third team leader, our ALC (Associate Leadership Council) was concerned about whether they could trust me to stay. The pre-launch phase had also worn out some of our initial agents and they left, discouraged that we would never actually open.”

From those inauspicious beginnings, Sutter and his team emerged months later as the runner-up for the Keller Williams Realty Home Run Launch Market Center Award, thanks to the market center’s $115,865 in total profits for 2011. In addition to reaching profitability right out of the gate, Fairfax-Capital Properties also saw its team grow from an initial 27 agents to 120 in just 21 months. Sutter credits the success to the market center’s staff, Associate Leadership Council (ALC), original investor Tony Brodie and Operating Principal Bo Menkiti.

So what did it take to launch a real estate office on the heels of a massive real estate downturn? Here is Sutter’s advice:

3 Steps to Launch a Successful Real Estate Office

Step 1: Come From Curiosity

Sutter’s biggest challenges during the launch phase came mostly from being a Texan in Old Dominion’s court.

“Agents from other companies weren’t exactly jumping up and down to sit one-on-one with me. Which was a challenge, because validity in the marketplace is built on relationships with really influential icons.”

A former mega agent with a team, Sutter had a genuine interest in helping other agents reach their potential. So he began sharing the education and training that is characteristic of all Keller Williams market centers. From social events, to core Keller Williams courses and regular meetings to discuss business strategy with top producers, Sutter’s curiosity in other agents’ success drew people to him …. and the market center.

Step 2: Lead with Revenue

Adhering to the Keller Williams launch phase model was the second pillar under Sutter’s launch plan. “Profitability in the beginning stages is about never deviating from the model,” Sutter says. “It’s about leading with revenue and keeping expenses as lean as possible. If there wasn’t a direct indication that an expense was going to lead to immediate revenue, chances are it was getting cut. We also stayed away from trying to be creative. I’ve always loved the idea that you have to ‘earn the right’ to add creativity to the model. No one that is in the launch phase has earned that right.”

Step 3: Make it about others

There’s a quote from John Maxwell, best-selling author on leadership that sums up another key element to the Fairfax, Va. market center’s success: “people don’t care how much you know until they know how much you care.”

“I was very fortunate to have a highly-engaged ALC who, along with Bo and Tony, committed to the vision of becoming the Home Run Launch market center,” Sutter says. “Their enthusiasm and determination carried over to our staff, our agents and even our core service partners. It became contagious, and everyone embraced a whatever-it-takes attitude.”

Committed to either making the launch a success or burning out in every capacity, Sutter  let go of old habits in favor of new ones. “Being so new, I needed to ensure I was supporting my ALC and staff, because they were the ones that could add the real value to our growth. The idea of ‘success through others’ was far different than how I ran my previous sales team, but it was a concept I loved. The less I made it about me, the better we did, and I quickly learned that leadership isn’t about knowing all the answers or being able to do everything yourself. It’s more about knowing who can provide what resources and then making sure that those individuals are nurtured and provided for. To me, that’s the ultimate win-win.”

Maintaining Visibility On The Web

Provided By Realty Times

In the real estate industry, a firm's online presence - its ability to have superior technology solutions, complemented by a team of experts - is critical. Without that support, and without the resources to maintain a firm's regional or national visibility on the web, success can quickly become its own worst enemy. Meaning: real estate firms with aggressive marketing campaigns must maintain the connectivity and bandwidth necessary for substantial increases in traffic. This assistance is the direct result of working with a colocation provider with the infrastructure to handle these issues, which include running multiple servers and having the expertise of talented professionals available at a moment's notice.  

These principles of access, intelligence and mobility (AIM) are the critical difference - for companies in general and real estate firms in particular - between one colocation provider versus another. In the absence of AIM, real estate firms risk selecting the wrong colocation provider, which can cause a negative impact on brand reputation, new business opportunities and existing relationships with clients.

I write these words not to condemn the competition, nor to sound unnecessarily alarmist, but realtors need to know the facts: that access, a network of offices throughout the United States, which can support a firm's online growth, backed by technical experts who will remedy any unforeseen developments and guarantee 100% uptime -- all of these things are essential for real estate firms that seek to appeal to current and prospective clients nationwide.  

Remember: a firm's website is often the first point of introduction for people interested in working with a broker, or listing a home with a specific branch. If that firm has unreliable connectivity - if it loses valuable, confidential data, or falls victim to poor hosting services - it will damage its respect in the marketplace. Indeed, the sheer force of social media - the disparate number of blogs, Twitter feeds and Facebook pages - will all say the same thing: that this real estate firm has a shoddy web presence, a site easily overrun by even the slightest increase in traffic and thus not worth visiting or retaining.

All of which brings us back to working with the right colocation provider. In fact, the concept of AIM - strengths that apply to any business - is something realtors should replicate in their dealings with clients. Start with the notion of access, that, as a professional, you will be available to accommodate the needs of your clients; that you have the offices to be a credible force within your industry. Secondly, emphasize the technical expertise that defines your commitment to excellence; assemble a team of distinguished leaders, who share your vision for solving complex problems and customizing solutions for each client. And thirdly, have the mobility to go anywhere, at any hour, to maintain the quality of service your clients deserve.  

These rules are our unofficial motto; but they have added importance concerning the union between real estate and technology, because - in the absence of a reputable colocation provider, one with a suite of integrated services and on-call experts - everything is liable to collapse. In that situation, everyone is the victim of false promises and unrealistic expectations. Put another way, behind most successful online companies there is a successful colocation provider. Our advice to real estate firms is, therefore, simple: choose the right colocation company. Period.

Your “Do-Not-Do” List

Provided By KW Blog

“Oh look, shiny thing!” I often hear real estate agents joke about this phenomenon. You know … the one where you are completely focused on one strategy until something new comes along and grabs your attention. Then you focus on that strategy for a while until another shiny thing comes along and grabs your attention.

And on, and on, and on and…

OH! Shiny Thing!

In all seriousness, the number of strategies you can use to build your real estate business is exponential. And they aren’t all bad. In fact, most can be learned, implemented and executed to meet your annual goals.

The problem is that we tend to think if we keep ourselves busy with seemingly important task throughout the day, that we’re on the right track to accomplish our goals. But for all the new, notable and totally worth-your-time tactics, there’s a point at which you reach maximum capacity. When you attempt to learn and do everything you essentially master nothing.

Consider this hypothetical: your Facebook isn’t feeding you leads, your Tweets aren’t getting retweeted, and the people calling you aren’t hearing your voice because you’re too busy Pinning on Pinterest to return their phone calls.

It’s a crazy thought, right? Surely that’s not happening … Right?

Several months ago I attended a real estate event where consumers took the stage as panelists to answer real estate agents’ biggest questions. During the buyer panel, I heard a consumer say that she called two agents after viewing their listings online. After two days, she hadn’t heard back from either agent. So, she moved onto another website and another agent.

What were those agents doing? Where were they when the client called them?

During the seller panel, the moderator asked if the sellers would want to friend their agent on Facebook or follow them on Twitter. Guess what? All four panelists shook their heads in a resounding “No” – they were literally confused!

To be fair, social media gets a bad rap for being a huge deterrent to productivity. In fact, there are agents tapping into these tactics and they are seeing success. But I’d argue that it’s because they’re having conversations on channels where their clients are already talking. I’d also argue that they have mastered prospecting of the fundamental kind: calling and keeping in touch with their database in a consistent and systematic way.

So here are some questions for you to answer: Are you frustrated that your social media isn’t getting you more leads? Do you wonder where the day went and why you haven’t gotten that next listing? Do you end the week with all the BEST real estate tools in your toolbox but no buyers or sellers to use them on? If so, perhaps you are you wasting your time on the next new shiny thing.

So how do you combat it? How do you get back to (or start) doing the things that are going to get you results?

Start a “Do-Not-Do” List

Becoming truly productive is a matter of generating productivity habits – habits that you routinely do every day. And it begins as a deliberate decision. You shape the routines that create your habits – the habits that will lead you to your goals. You make the choice.

Begin by listing out those tasks that would only serve to consume your time. Then don’t do them! Determine what can be handled more effectively with technology and what you can delegate.

Here are some “Do-Not-Do” suggestions.

Don’t worry if you don’t have EVERY single new gadget or real estate app.

Do know which technology tools work best for your business and help make your customer service extraordinary so that you get generate endless referrals.

Don’t get ready to get ready.

DO be prepared, but remember how important it is to just start! For instance, you may feel like you haven’t practiced your scripts enough. Yet, three hours of lead generation with actual clients would give you tons of experience!

Don’t allow others to interrupt your three hour lead generation time block.

DO set expectations with colleagues and clients about when you will be in touch and what might be an appropriate interruption.

Don’t always feel the need to respond immediately.

Do let people know how much care about providing excellent service and that you will get to them at a prescribed time that is appropriate given the need they have. Prioritize!

Don’t put out fires!

Do have the know-how to separate the emergencies that require your attention and the ones that can be handled at a later date or by another team member.

Don’t over-engage in training and education to the point where your production suffers.

Do set annual goals and attend market center training that will help you achieve them.

Don’t invest a lot of money in your marketing before you master prospecting.

Do focus on crafting your marketing look and message and make sure you are doing the activities that result in dollars: converting leads to appointments and converting appointments to listings.

Don’t try to do everything.

Do choose one or two strategies for generating leads (outside of traditional cold calling) and become a master of it for a set period of time. Farming is an excellent example of this “Do” in action. Many top agents have said that it takes 18 months before farming became a solid lead generation strategy – but they had to stick with it.

Mega Camp 2012 – Here We Go!

Provided By KW Blog

Preparation is well underway as Event Staff and Employees from the KW International Support Center set up what is already looking to be the BIGGEST Mega Camp ever! Starting Tuesday, close to 11,000 Keller Williams associates and top agents from around the world will gather to network with the best and hear the latest insights, trends and skills they need to succeed. From interviews with industry experts and speakers, to panels featuring top agents from across North America, to live role plays, this high-energy event is going to be an event like no other!

And keeping tabs on the hottest panels, biggest breakthroughs and stellar success stories, will be the KW Blog Live Event Coverage Team. Come back each day for highlights, videos and hopefully (if we can catch them!) some behind-the-scenes glimpses of our wonderful speakers and panelists.

We’ll also be posting on the Keller Williams Realty Facebook Page and MAPS Coaching Facebook Page, tweeting with the official Mega Camp hashtag –#KWMC – from @kwri and @mapscoaching and pinning to our new Pinterestboards! So follow along, tag us in your Facebook pictures, tweet and retweet your favorite moments and share your MEGA experiences.

We can’t wait to see you!

The KW Blog Live Event Coverage Team

p.s. You can visit the Mega Camp website for more information on the event and to register.

MEGA CAMP!

Are you in the driver's seat of your success???

Call me to learn how you can ACCELERATE your GROWTH!

September 19th – 20th Mega AGENT Camp ($199)

Wednesday, September 19th 8:00am - 12:00pm
Wednesday, September 19th 1:30pm - 5:00pm
Thursday, September 20th 8:00am - 12:00pm

How to Prospect Expired Listings

Provided By Realty Times

Prospecting expired listings can be the core of anyone's business in the real estate field. You can create a system that will give you repeatable results for your effort. Let's look at these three very positive characteristics in prospecting expired listings.

They are easy to find: Expired listings come up everyday, so you will always have a handful that you can work with on a daily basis. They provide a steady stream of new leads to contact for listing appointments. There are also usually a few very heavy days each month. You will need to set your schedule to take advantage of these heavy days. The end of the month is one of the heaviest times for expired listings; up to 25 percent of the expired listings for the month may occur in just one or two days.

They want to sell: Expired listings were on the market at one time, unlike many other types of clients you will contact. The owners had a plan laid out to sell and move. Unfortunately, their plan did not work out, but, in most cases, they wish it had. There will be some expireds that were listed by clients who are now tired of the process, but the majority of them still want to sell.

The bulk of them are looking for an Agent: If the prospect still has the desire to sell, as most do, then they are searching for a new Agent. They are looking for someone who can solve their previous problem. Most do not know why their home did not sell, but they are frustrated with their previous Agent and sometimes all Agents. They will rarely return to their previous Agent.

The successful way to work expired listings is the CAP system: Consistency Attitude Persistence

The first part is consistency: You must consistently work expired listings. For you to achieve a large return on your time invested, you must work diligently for a minimum of four weeks straight. Expired listings cannot be started and stopped without losing momentum. There is a rhythm and a flow to them. They must be a daily discipline that you work on. If you prospect them for two weeks, then take a week off, you are back to zero. I did not prospect weekends, but I did diligently call Monday through Friday.

Your leads must build, and your follow-up must grow. When you get down the road 30 plus days, you will begin to receive calls for listing appointments from your work earlier in the month as well as your appointments from new expireds. You must work to create a pipeline of expired listing clients.

The second part is attitude: Your attitude plays a crucial role in your success working with expired listings. You need to convey to the seller an attitude of compassion and problem solving. They are not just looking for someone to pound a sign in the ground; they are looking for someone to get their home sold; they are looking for someone to solve their problem. They can get even more resentful due to the high volume of Agents that may call them.

Many expireds feel that everyone else is the problem, when it is actually them and their price. When it comes to expired listings, price is the problem 90% of the time. You have to read the people you are meeting with regarding their home. Too many Agents who work with expired listings hit their prospective clients with a ball peen hammer between the eyes when it comes to the price. That will work with some and will fail miserably with others. You must be able to adjust your delivery.

You need to read the prospective clients, and, most importantly, you need to exude an attitude of caring and compassion for their situation, while conveying confidence in your ability to get the job done. Sometimes, the only way to get the price down is to convince them you care, and it pains you that they have to sell for less, but there is no other way. It is like the doctor who tells his patient she has cancer. He does not like it, but he has to do it, so he can cure her.

The last, and at times most critical, is persistence: Your persistence or ability to stick with it can have the most positive results of all. Many expired listings do not set appointments right away with Agents. Sellers will wait a week or two, maybe even a month. The number of calls they receive about their home drops dramatically as the weeks tick by. Do not be one of the Agents who drop off unless the sellers have low motivation or are unreasonable. Be one of the ones left standing at the end of a week or two.

Be persistent in your calling. Call them a few times a week. All you are doing is trying to set an appointment. You are not doing a listing appointment over the phone; just close for an appointment. That is what the call is for. You just want to be one of the three or four they interview. If you keep that as your goal, you will get plenty of salable listings.

Focus on the CAP system daily. Work both today's expired listings, and the ones you gathered in the past. Effectively follow-up with your hot leads daily. Remember consistency, attitude, and persistence are the keys to prospecting expired listings.