You.
Real Estate is about
And the brokerage that meets your needs Use this workbook to think through your real estate business, your clients, suppliers, revenues, expenses, marketing and your operations.
W E L C O M E This is a mini-version of the workbooks we use at Intero during orientation. We hope it will empower you to do a quick assessment of your real estate business. The actual book is over 500 pages long and our orientation is very intensive and pratical. We hope it will help you launch your career into action! We are going to make the assumption that you want to run a Real Estate BUSINESS, therefore this workbook will help you think through the basics of your real estate business as it pertains to your executive summary, target clients, suppliers, marketing, operations, resources, revenues and expenses. Best of luck! Daniel, Katie, Amber and Randall
C L I E N T S To thrive in this business you need to make a conscious decision about which segments to serve and which segments to ignore. Once you make this decision, you can tailor your efforts around a strong understanding of that specific segment. Let’s begin by assembling your primary BUYER customer profile. Circle ONE CHOICE for each of the following answers:
What type of buyer is your ideal client?
Land (to build)
First-time home buyers Repeat buyers
What price range are those properties?
Either first-time or repeat buyers
$50k - $199k $200k - $500k
How old are your ideal clients?
$501k - $999k
Less than 30
$1MM - $1.5MM
30-40
$1.5MM and above
40-50 50-60
What geographical segmentation would you
60+
consider your primary marketing area? A specific neighborhood
What is their social status?
Several specific neighborhoods
Single
A city or township (Katy, Pearland, Cypress, etc).
Roommates
A Houston area (Inner Loop, north, south, etc).
Married (no kids) Married (with kids)
What is the name area you have chosen?
What is their education level?
_________________________________________
High school degree College degree Masters degree Any degree What type of properties do they want? Single family homes Town-homes Condos & high-rises
Let’s continue by assembling your primary SELLER customer profile. Circle ONE CHOICE for each of the following answers: How old are your ideal seller clients?
What price range are those properties?
Less than 30
$50k - $199k
30-40
$200k - $500k
40-50
$501k - $999k
50-60
$1MM - $1.5MM
60+
$1.5MM and above
What is their social status?
What geographical segmentation would
Single
you consider your primary marketing area?
Roommates
a specific neighborhood
Married (no kids)
Several specific neighborhoods
Married (with kids)
A city or township (Katy, Pearland, Cypress, etc).
What is their education level?
A Houston area (Inner Loop, north, south, etc).
High school degree College degree
What is the name of the geographical area
Masters degree
or areas you have chosen?
Any degree _________________________________________ What type of properties do they own? Single family homes Town-homes Condos & high-rises Land (to build)
Third, put your answers in the below paragraphs:
BUYERS: I prefer to work with _________________ who are _______ years old, who are
_________________, generally educated with ____________, looking for
_____________________, in a price range of ____________, in ______________.
SELLERS: I prefer to work with sellers who are _______ years old, who are
_________________, generally educated with ____________, own _____________________,
that sells in a price range of ____________, in _____________________.
M A R K E T I N G When it comes to drumming up new business, your biggest challenge will be to prospect with the right individuals to convert them into leads and then into clients. To do so, you need to simultaneously deploy an array of marketing techniques, which include the following:
SPHERE
OF
INFLUENCE
FARMING
OPEN
COLD
HOUSES
CALLING
DIGITAL
MARKETING
TRADITIONAL
MARKETING
PROSPECTING “B” LEADS (0-60 days out)
“C” LEADS (61-120 days out)
“A” LEADS (Appointment)
How likely are you going to use the following sphere of influence techniques?
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Build a contact database of at least 100 people
O
O
O
O
O
Establish a system to contact database
O
O
O
O
O
Delete contacts that are not working out
O
O
O
O
O
Connect in Facebook/Twitter/LinkedIn
O
O
O
O
O
Engage in random conversations with people I don’t know
O
O
O
O
O
Use a binder to manage database
O
O
O
O
O
Use a spreadsheet to manage database
O
O
O
O
O
Use a CRM system to manage database
O
O
O
O
O
Master the art of script talk (Intero has hundreds of scripts and role play sessions)
O
O
O
O
O
How likely are you going to use the following farming techniques?
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Pick and farm area with high sales turnover
O
O
O
O
O
Measure every campaign result
O
O
O
O
O
Participate in the community and become a trusted resource
O
O
O
O
O
Study the farm’s MLS activity for the last year
O
O
O
O
O
Setup email alerts from the MLS to get the scoop of everything that touches my farm
O
O
O
O
O
Drive around the farm area at least weekly
O
O
O
O
O
Drive around with magnetics in my car at 8:00 AM so people leaving for work/school see and relate to my brand
O
O
O
O
O
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Stop by homes as soon as I see signs of moving or remodeling and talk to owners
O
O
O
O
O
Talk to builders as soon as I see signs of new construction. Get their listings or at least know their inventory before it hits the market
O
O
O
O
O
Pull records of expired/withdrawn listings from a year ago and launch a targeted campaign to bring them back to the market
O
O
O
O
O
Work all expiring listings in my farm area
O
O
O
O
O
Work all FSBOs in my farm area
O
O
O
O
O
Tell 20 people in my farm about my new listings, and sold homes
O
O
O
O
O
Hold open houses consistently when I get a listing in my farm
O
O
O
O
O
Tell 20 people in my farm area about my open house
O
O
O
O
O
1 hour at Starbucks, 3 days a week, at the same time, let people see my Intero folder
O
O
O
O
O
Every time there is a new listing in my farm, preview it
O
O
O
O
O
Mail recipes, sports schedules, restaurant guides and seasonal/holiday related items
O
O
O
O
O
Mail market statistics postcards
O
O
O
O
O
Mail invitations to online market statistics (powered by paid services such as Top Producer’s Market Snapshot)
O
O
O
O
O
Send monthly market statistics newsletter
O
O
O
O
O
Mail just listed/just sold cards
O
O
O
O
O
Knock on doors, introduce myself and ask for referrals
O
O
O
O
O
Send monthly market statistics newsletter
O
O
O
O
O
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Host an annual, semi-annual or quarterly neighborhood cookout where I can introduce myself and my services to people in a relaxed atmosphere.
O
O
O
O
O
Sponsor a community event organized by community leaders
O
O
O
O
O
Find an event I can sponsor and gives me maximum visibility (trick-or-treating, food drive, grassroots marketing, etc).
O
O
O
O
O
Make myself available to community newspaper/gazette reporters or writers when they need a quote or an interview.
O
O
O
O
O
Setup up a community page on Facebook
O
O
O
O
O
Deploy a local website with local news, food, culture, sports, and a real estate section where I can promote myself
O
O
O
O
O
Setup Up Neighborhood Yard Sales
O
O
O
O
O
Mail invitations to an online survey about the neighborhood in exchange for a “chance to win a gift.” Intero can help me create an online survey that will “creatively” elevate awareness of my services, gauge the likelihood of neighbors buying or selling in the near future, or knowing people who may want to move into the neighborhood.
O
O
O
O
O
Talk to other businesses about a “swag bag” prior to a community event, where I can put a marketing piece or a postcard offering 1% rebate on purchase or sale of homes
O
O
O
O
O
How likely are you going to use the following Open House techniques?
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Ask concierge desk to match me with Open Houses so I can generate more leads (if your company offers that)
O
O
O
O
O
Advertise Open House in the MLS
O
O
O
O
O
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
O
Prospect with visitors using scripts
O
O
O
O
O
Follow Up on every lead after Open House
O
O
O
O
O
Advertise Open House in HAR.com, Realtor.com, Zillow.com and Trulia.com Advertise Open House in Facebook Business Page Advertise Open House in Brokerage’s Facebook group (if they have one that works) Advertise Open House to Neighbors Prepare Open House brochures, lead generation tools, etc. Use an iPad and the Open House Pro app to attract subscribers in a unique way
How likely are you going to use the following cold calling techniques?
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Cold-call expired listings and try to get them to switch to me when their listing expires
O
O
O
O
O
Cold-call FSBOs (For sale by owners) and try to convert them to use my services
O
O
O
O
O
Cold-call withdrawn listings and try to get them to back in the market using my services
O
O
O
O
O
Participate in lead time at the office
O
O
O
O
O
How likely are you going to use the following traditional marketing techniques?
Print great looking business cards
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
O
O
O
O
O
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Print “Mini-cards” with a different image of my house in every card and use them in open houses or events. I can get these cards through Intero discount vendors
O
O
O
O
O
Leave branded pens at restaurants for people to see when signing the check
O
O
O
O
O
Mail introductory postcard to my contacts and/or farm area
O
O
O
O
O
Write Thank You notes (My Intero membership includes unlimited card stock)
O
O
O
O
O
Write professional letters to households (use one of many Intero scripts or make my own)
O
O
O
O
O
Send direct mailing campaigns: Just Listed and Just Sold postcards, real estate market reports, community news
O
O
O
O
O
Put branding in my car: Window lettering, magnetic signs, or total wrapping
O
O
O
O
O
Put some decals in my car and signup for Uber (or have my son do it), so I get mobile branding that pays for itself
O
O
O
O
O
Become familiar with the EDDM service from the postal service and participate in Intero workshops where I will prepare my mailings while having fun with my colleagues
O
O
O
O
O
Invite past clients to an “appreciation event” with drinks and d’oeuvres at my Intero office, and/or co-sponsor the event with other colleagues
O
O
O
O
O
Invite members of my contact list to a Free seminar (based on my niche expertise) at my Intero office.
O
O
O
O
O
Mail interest rate updates and information (work with a local lender)
O
O
O
O
O
Create a neighborhood newsletter or “weekender” and mail or walk it
O
O
O
O
O
Create a weekly “open house” newsletter and mail or walk it
O
O
O
O
O
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Join a local association, group or cause to put my face in front of others
O
O
O
O
O
Offer my Intero office for meetings and events of such association, group or cause
O
O
O
O
O
Join a referral group
O
O
O
O
O
Invite past clients to leave a review in my HAR Client Experience Rating page (more about this in Digital Marketing section)
O
O
O
O
O
Tell twenty people about my new listing
O
O
O
O
O
Tell twenty people about my sold listing
O
O
O
O
O
How likely are you going to use the following digital marketing tools and techniques?
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Take my professional headshot (Intero organizes monthly photo shoots at the office)
O
O
O
O
O
Update my email signature everywhere
O
O
O
O
O
Write my bio so I can post it in my website, HAR profile, social media profile, etc.
O
O
O
O
O
Use my Intero personal website which contains lead capture forms, full MLSsearch, and back-end CRM system.
O
O
O
O
O
Purchase a personal website with lead capture forms, full MLS-search, and backend CRM system from a vendor. Intero recommends Top Producer, websitebox, instant, and agentevolution
O
O
O
O
O
Hire someone to build my website for me
O
O
O
O
O
Getting Started
Personal Website
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
O
O
O
O
O
Create a blog using Wordpress or Tumblr if my website does not already have one
O
O
O
O
O
Add Facebook Connect to my blog to give it more social juice
O
O
O
O
O
Add links to subscribe to my email marketing distribution list in my blog
O
O
O
O
O
Set up my free HAR member profile, add my photo, bio, video, and link to my website. Modify settings to display or hide my listings, solds, etc.
O
O
O
O
O
Connect HAR’s “chat platform” in case someone wants to chat with me via
O
O
O
O
O
Schedule an appointment with the HAR Studio to create and add my own video to my HAR.com profile
O
O
O
O
O
Add a language I speak so people can find me by language preferences when they visit HAR.com
O
O
O
O
O
Produce my own content, Intero has a list of content formats, apps and 100+ topic ideas
O
O
O
O
O
Curate content (by doing it myself or through services such as Podio or HearsaySocial)
O
O
O
O
O
Hire a “ghost writer” to produce my content
O
O
O
O
O
Blog daily
O
O
O
O
O
Blog weekly
O
O
O
O
O
Blog monthly
O
O
O
O
O
Create my own website from scratch Blog
HAR.com Profile
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
O
O
O
O
O
Opt-In for HAR.com’s client experience rating, which appears all over HAR profiles
O
O
O
O
O
Participate in HAR’s Q&A to build reputation and boost my participation ratings,which appear all over my HAR profile
O
O
O
O
O
Setup my Realtor.com, Zillow.com and Trulia.com profiles with my photo, bio, etc.
O
O
O
O
O
Subscribe to Zillow Premier Agent
O
O
O
O
O
Subscribe to a CAN-SPAM compliant email marketing system, Intero recommends Mailchimp for simplicity and cost
O
O
O
O
O
Create a distribution list and an “RSS Campaign” that connects my blog, so my posts get pushed to my distribution list
O
O
O
O
O
Get technical: Segment the distribution list into buyers, sellers, farm area, niche, etc... Setup auto-responders so that delayed emails with tips go out to new subscribers... Embed subscription forms in my Facebook Page, website, etc... Create targeted email campaigns and blast them to list segments
O
O
O
O
O
Subscribe to services that automate email campaigns (check out Happy Grasshopper)
O
O
O
O
O
Signup for HAR’s “Agent Newsletter”
O
O
O
O
O
Participate in Intero’s shared blog and attend content generation parties. In addition to having fun and producing content for my own blog, Intero blogs/ emails/posts my content through its own channels so I reach thousands of people. Reviews
Real Estate Search Engine Profiles
Email Marketing
Social
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Create a profile if you don’t already have one
O
O
O
O
O
Delete pictures that show you doing nonprofessional things
O
O
O
O
O
Enable Facebook feature to untag or approve tagging of yourself
O
O
O
O
O
Send daily birthday wishes
O
O
O
O
O
Comment or Like 3-5 posts from the Newsfeed daily
O
O
O
O
O
Update my status with fun and value once a day
O
O
O
O
O
Create a Facebook Page for your business
O
O
O
O
O
Connect HAR’s “Social Media Plug-in for MLS” to either my Facebook, Twitter and/ or Linkedin accounts, so that my new listings are automatically posted or tweeted
O
O
O
O
O
Connect HAR’s “Show my Listings” App, which will generate a menu item with all my listings for people to see
O
O
O
O
O
Post helpful and relevant resources from my Facebook Page
O
O
O
O
O
Leave comments on local business pages or groups (NO SPAM, or self interest linkbacks)
O
O
O
O
O
Comment on others’ status updates
O
O
O
O
O
Create a past client photo album with testimonials (tag clients that are on Facebook & post on my business page)
O
O
O
O
O
Create Animoto slideshows or a photo album for listings (post on my business page)
O
O
O
O
O
Create a Twitter profile, use Twitterlocal.net to connect with locals
O
O
O
O
O
Connect HAR’s “Social Media Plug-in for MLS” to my Twitter account, so that my new listings are automatically posted.
O
O
O
O
O
Very Likely
Somewhat Likely
Neutral
Somewhat Unlikely
Not Likely
Manually tweet my blog posts with a message that shows authenticity
O
O
O
O
O
Auto-tweet my blog posts by connecting my Twitter account to my email campaigns.
O
O
O
O
O
Tweet relevant professional and inspiring content (Intero has a list of ideas)
O
O
O
O
O
Create a local special interest landing page (i.e. wineries, schools, non-profit, etc.). Intero can help me launch a website with local interests that updates automatically and contains a real estate section with my branding.
O
O
O
O
O
S U P P L I E R S As a real estate professional you are expected to coordinate with a number of companies to deliver your services. Their bad service translates into your bad service, and vice-versa. Your relationship with these suppliers is motivated by regulations (independent lenders, mortgage brokers, insurance companies and title insurance companies) and by your need to have support services (inspectors, Intero vendors, professional photographers, and more).
Direct Lenders
Insurance
Banks and credit unions with in-house loan
They provide home and other insurance
programs.
products. They derive business from agents, expect them to prospect for your business.
Mortgage Brokers Licensed pros who know about loan programs
Home Warranty Providers
from various banks and credit unions, or
Home warranties are like a “protection plan” for
originate loans themselves through “warehouse
homes (i.e. appliances, electrical, plumbing, etc.)
lines of credit.” Mortgage brokers derive
Buyers may want to protect their home, sellers
business from agents, expect them to prospect
may want to make it more “sellable.” Home
for your business.
warranty providers derive business from agents, so expect them to prospect for your business.
Title Companies They handle all the legal aspects, deed
SpeedyPost
research, and closing of the transaction. They
This company offers next day yard sign
derive business from agents, expect them to
installation. Intero has a stock of yard signs at
prospect for your business.
SpeedyPost ready to go in case you need them to install a yard sign for you.
Inspectors (General, roof, termite, foundation, structural, a n d m o r e ) . B u y e r ’s a g e n t s s c h e d u l e appointments, buyers pay for the service. Usually busy and informal, inspectors don’t really prospect for business.
O P E R A T I O N S When it comes to handling your operations, ask yourself these questions: Does the brokerage have a paper-based workflow? or a cloud environment? Or a transaction management system? And if it uses a transaction management system, does the brokerage have the remote processes that allow me to work from everywhere and get paid without stepping a foot into the office? We at Intero feel that our remote processes empower people to run efficient operations, here are some examples of how we do things at Intero:
Working with Buyers: Step by Step Deliverable
What to do
How we do it at Intero
Perform needs
Sit down with prospective buyers,
Use scripts and templates to answer
analysis
learn more about their real estate
questions and objections. Tip: Check out
needs, and show them how you
hundreds of scripts and attend role play
can help them meet those needs.
sessions at Intero.
Sign buyer’s
Try to get the buyer to sign a
Expect push-back because not everyone
representation
buyer’s representation agreement
in our industry signs them, so you need to
agreement
signed.
establish enough trust and credibility to get them to sign. Tip: Use an Intero buyer package and scripts.
Help buyers
Advise buyers about the
Have a package with recommended
get pre-
mortgage process and the
mortgage brokers and lenders (3 names
approved
benefits of getting pre-approved.
to reduce liability). Tip: Watch out for
Recommend lenders and
buyers who must sell in order to buy, they
mortgage brokers.
may not meet debt to income ratio requirements, many mortgage brokers pre-approve without thinking. You don’t want a problem later.
Deliverable
What to do
How we do it at Intero
Show homes
Show homes that are likely to
Use Intero qualification checklists, scripts
match the buyers’ needs, analyze
and materials. Setup MLS email alerts
price and amenities, make
early in the morning and do whatever it
recommendations.
takes to stay ahead of them (they feel empowered by the Internet and think they’re ahead of you).
Review Seller’s Always review the seller’s
Get the seller’s disclosure from the seller’s
Disclosure
disclosure and give your buyers
agent. Tip: Good agents put the seller’s
more information about the
disclosure in the MLS, so you can get it
properties they are considering.
from there without having to contact the seller’s agent. Go there first.
Prepare offers
Prepare contracts/addenda timely
Retrieve and populate the right set of
and accurately. Set expectations,
documents using ZipForms and use
explain the contracts, talk about
DocuSign, HelloSign or DigitalLink to sign
common scenarios.
whenever possible. Tip: Take Intero contract training and use NuOffer: An iPad app that brings ZipForms and electronic signatures and a super cool, interviewstyle workflow guaranteed to make you look smart as you quickly write accurate offers from anywhere (Included with Intero membership).
Negotiate
Establish firm communication with
Acquire skills in the art of negotiations.
offers
the seller’s agent and keep your
Use canned checklists, negotiating scripts
buyers appraised of how the
and written templates for the other agent
negotiation is going, make them
and for your buyers. Tip: Buyers love to
feel comfortable knowing that you
think that you possess an evil side aimed
are taking the hassle out of their
at the seller’s agent, so give that
hands.
perception!
Deliverable
What to do
How we do it at Intero
Open Escrow
Help your buyers open escrow,
Call the title company immediately to
establish contact with the title
position yourself as the point of contact.
company, and expedite the
Make sure the checks get to where they’re
escrow check, the option check,
supposed to get to in time. Obtain the
and the escrow receipt.
escrow receipt. Confirm to your buyer that all is set and tell them what the next actions will be (we have scripts and templates).
Make changes
Prepare amended contracts/
Retrieve and populate the right set of
to offers
addenda timely and accurately as
documents using ZipForms and sign with
offer or closing dates, terms, price DocuSign, HelloSign or DigitalLink and/or conditions change.
whenever possible, or use NuOffer. Stay on top of changes. Watch the dates! Be proactive. Never fall into a situation where clients have to remind you, it’s a deadly blow to your chances of getting referral business after the transaction.
Clear contract
Coordinate inspections on behalf
Recommend inspectors (3 to reduce
covenants
of buyers, go through inspection
liability), schedule appointments, retrieve
reports with your buyers,
and go through inspection reports, explain
negotiate changes with seller’s
what is critical and what is not. Tip: If your
agent, make sure repairs are
buyer wants to be present during the
done by the sellers.
inspection, go too! This is a great business moment that they will greatly appreciate it and will certainly tell their friends about it.
Closing
Retrieve and review the settlement Learn the ins and outs of the settlement statement from the title company
statement, tax calculations, etc. Be able to
prior to closing and point out
explain everything in plain English.
discrepancies if necessary. Do a
Educate your buyers about what to expect
final walk-through of the property
at closing. Tip: Take the HUD-1 class and
with your buyer, reassure them
stay tuned for changes coming in August
about their good choice, attend
2015 (we will have another class for that).
closing.
Deliverable
What to do
How we do it at Intero
Get reviews
Get reviews from your buyers on
HAR will automatically send your buyers a
HAR’s client experience rating
request to provide feedback shortly after
after closing.
the seller’s agent marks the property as “sold” in the MLS. Tip: Tell them about it and remind them if they don’t do it.
Initiate post-
Check on them immediately after
Always congratulate with something:
closing follow-
closing and become the resource
Email, closing present, paid re-keying.
up
that’s “always there” to help.
Initiate a drip campaign that will last for the next 7 years (Use Intero canned templates).
Activities When Working with Sellers Deliverable
What to do
How we do it at Intero
Perform needs
Sit down with prospective sellers,
Use canned scripts and templates for just
analysis
learn more about their real estate
about every question or objection they may
needs, and show them how you
have, and learn the art of “script talking.”
can help them meet those needs.
Tip: Attend Intero role play sessions.
Evaluate the
Prepare a professional evaluation
Generate a Comparable Sales Analysis
price of their
of the price of their home, explain
(CMA) using HAR’s Instant CMA tool or
home
pricing strategies and the risks of
NAR’s Realtor Property Resource (a.k.a.
overpricing.
RPR). Use canned templates and scripts to explain pricing strategies and the risks of overpricing.
Deliverable
What to do
How we do it at Intero
Present a
Sit down with prospective sellers
Confirm appointment by email, bring a
marketing plan and show them what you can do
listing presentation (“marketing plan”), put
to sell their home fast, at the
your script-talking skills to work, send a
highest possible price, and with
hand-written thank you note after the
the least amount of hassle to
appointment. Tip: Use Intero marketing
them.
plans (Print, web, mobile, or professional packages at low cost). Want to give the perception of a team working for you? Have the concierge confirm the appointment.
Enter into a
Get the seller to sign a listing
Retrieve and populate the listing
listing
agreement.
agreement using ZipForms. Sign
agreement
preferably in person during the marketing plan appointment, or use DocuSign, HelloSign or DigitalLink to sign from anywhere afterwards.
Order
Order professional photos to
Do it on listings over $200k, ask the
professional
enhance the way the house
concierge desk for details. Tip: Pros don’t
photography
shows everywhere.
stage, tell your sellers.
Seller’s
Get the seller to fill in the seller’s
Retrieve the seller’s disclosure using
Disclosure
disclosure and give it to every
ZipForms and pre-populate the seller’s
buyer’s agent who is interested in
name and address. Have the seller fill out
the property.
the details. Note: By law the seller must populate the seller’s disclosure on his/her own, you can only give recommendations such as roof type, furnace, etc. Tip: Put the seller’s disclosure in the MLS, it will save you lots of headaches.
Deliverable
What to do
How we do it at Intero
Advertise
(1) Upload the listing in the MLS,
Enter the listing in the MLS and voilà! the
listing all over
(2) advertise the home in all
following happens:
the Internet
relevant real estate search
• HAR syndicates to Trulia, Zillow, Realtor,
and mobile
engines and websites that cover
Homes, Chron, Galveston News, all
apps
over 95% of all home search
Houston brokerage sites with IDX,
traffic, (3) “enhance” the listing in
Interohouston, your personal website,
Realtor.com - the #1 real estate
and Intero’s corporate website dot-com.
search engine, (4) create a property website with mobile capabilities, (5) use the property
• Realtor.com enhances your listing on arrival per Intero’s agreement. • Intero syndicates to major worldwide
website as an eFlyer and send
sites, and, for listings over $1MM, to
the link to your seller, and (6)
luxuryrealestate.com (#1 luxury site).
promote the property website
• HAR automatically generates a mobile-
through social media.
responsive property website that rocks!
Install yard
Install an Intero yard sign to give
Borrow a free Intero yard sign and put it in
sign
the property the exposure it
the front yard. Choices: (1) Order
deserves to passing buyers.
SpeedyPost installation (great for remote home locations), or (2) Purchase a vanity yard sign panel to prominently display your name and contact information.
Install a
Install a wireless lockbox and tell
Buy a supra lockbox ($100 new, less in
secure
your sellers it brings added
eBay). Once you install it you’re done!
wireless
security: Your wireless lockbox is
Realtors sync to open, and it’s tied to their
lockbox
only available to realtors and
MLS ID. You can get notifications or
allows you to see who entered the
access a website to see names/times
home and when.
when your supra lockbox was triggered.
Enable
Enable 24/7 call center with a
You don’t need to do anything: Once you
showing
direct link directly embedded in
put the listing in the MLS, Centralized
scheduling
the MLS, exclusively for realtors.
Showing Services retrieves your listing and
services
All calls are answered, no
begins working per Intero’s agreement.
appointment is ever missed!
Deliverable
What to do
How we do it at Intero
Enable
Deploy a call center that
Intero’s agreement with Centralized
showing
systematically requests feedback
Showing Services includes feedback
feedback
from realtors after each showing
services, and it is automatically put into
services
and puts it into a report that
work when you put the listing in the MLS.
allows you to give your seller
All you have to do is access the real-time
objective feedback as to how
web-based dashboard for your listing and
many showings the house is
produce reports.
getting and how the market is reacting to the listing NOW instead of tomorrow.
Organize a
Host a broker open house
A broker open house includes d’oeuvres
broker open
exclusively for realtors during the
and refreshments. Tip: You can call Intero
house
first week.
colleagues or other agents to do “progressive open houses” (i.e. starters in house 1, entree in house 2, dessert in house 3).
Organize open Organize open houses according houses
Advertise the open house in the MLS and it
to your seller’s schedule. Let them will syndicate to multiple websites. BTW know that you can have open
Intero has an open house sharing policy
houses every Saturday and
(think of it as the match.com of open
Sunday until the house goes
houses). It allows Intero colleagues host
under contract. This is something
your open house when you cannot, and for
that most agents cannot do
you to host others open houses too. Tip:
(because their brokerages are
You can also check out Intero’s Facebook
non-collaborative and people
group, people post open house hosting
work in a vacuum).
requests all the time.
Send just
Initiate a direct mail campaign to
Use EDDM (Everyday Door to Door
listed
let people know about the new
Mailing) from the USPS - the cheapest way
postcards
listing.
to send mass mailings. Tip: EDDM requires a certain size of postcards and for you to sort them prior to taking them to the post office. Ask us how or join an EDDM workshop and do it with other Intero colleagues.
Deliverable
What to do
How we do it at Intero
Do frequent
Meet with your sellers weekly or
Use showing feedback reports from
follow up
twice a month to tell them how
Centralized Showing Services and open
meetings
things are going using objective
house reports (at least number of visitors)
feedback. Always ask if they feel
and give objective feedback. Sellers will
comfortable with the process, and surely welcome it and tell their friends take the time to educate them in
about it. Tip: If in the near future you must
the various scenarios and the
lower the price of the house, having these
home selling process.
meetings will really help because it will be clear to your sellers that you’re doing everything possible. Not hearing from agents and then getting the “lower the price” call is one of the biggest complaints sellers have from agents.
Present offers
Analyze each offer beforehand,
You will likely get a call from the other
present it to the seller and give
agent before the offer. Tell your sellers an
recommendations.
offer may be on its way, that way you generate positive expectations. Always ask if they are comfortable with the process and take the time to educate them in what is likely to be the next step in the process. Tip: If you have multiple offers over asking price, we have a great thing for you: The “Waiver of financial contingency” strategy. Ask the broker about it!
Negotiate
Establish firm communication with
Acquire skills in the art of negotiations. Use
offers
the buyer’s agent and keep your
canned checklists, negotiating scripts and
sellers appraised on how the
written templates for the other agent and
negotiation is going, make them
for your sellers. Tip: When the other agent
feel comfortable knowing that you
calls, don’t sound excited, use a canned
are taking the hassle out of their
checklist to ask the right qualifying
hands.
questions. Doing so will throw a wrench into the other agent’s motive to lower your price. Remember: Just like buyers, sellers love to think that you possess an evil side aimed at the buyer’s agent, so give that perception!
Deliverable
What to do
How we do it at Intero
Open title
Open title with a title company.
Make sure that the title company receives the escrow check and the title is effectively opened. Tip: If you feel comfortable using a specific title company (and title rep) that has helped you in the past, know that it is perfectly normal for you - the seller’s agent - to challenge whatever title company the buyer’s agent puts in the offer. You can ask them to change the title company to the one you like.
Stay on top of
Coordinate inspection
The buyer’s agent organizes inspections.
inspections
appointments with the buyer’s
Ask the buyer’s for the inspection date/
and repairs
agent in accordance to your
time so you can check with your sellers.
seller’s schedule. Review reports
Once the inspection report comes in,
and provide recommendations.
review it beforehand and talk to your
Help seller do the repairs in a
sellers about it (what to fix, what to push
timely and cost effective manner.
back on). Then negotiate with the buyer’s agent. Once you reach an agreement on repairs, help your sellers get the appropriate people to make repairs.
Stay on top of
Regularly check with the title
Call and check (or email/text)... is that
the closing
company and the buyer’s agent
simple. Tip: Don’t wait for your seller to call
process
to find out how the mortgage and
you, be the one who calls first. If you have
title process is doing. Give sellers
no answers, call them anyways. It’s better
feedback.
to tell them you are waiting on calls than waiting on them to call you. It goes a long way.
Managing Transactions Deliverable
What to do
How we do it at Intero
Create
Create a folder file or its
Intero’s transaction management system
transaction file
electronic equivalent in a cloud-
is connected to the MLS, just enter the
based folder.
MLS number and voilà! the entire transaction goes active, you can even see the pictures.
Deliverable
What to do
How we do it at Intero
Determine
Make a checklist of all the
Intero’s transaction management system
what
documents you need (usually
interviews you and creates the checklist
documents are there is a canned checklist but
for you. Think of it as the “Turbo Tax” of
needed
every transaction is different).
real estate.
Share
Send or email documents or
Use the transaction management
information
share your cloud-based folder.
system to invite clients to the
with clients
transaction, so they see everything in real time and collaborate with you.
Track dates
Very important not to miss
The system does it for you: It updates a
deadlines! Make calendar entries
transaction calendar that syncs with
or reminders.
your mobile device, so you can see all dates for all your transactions.
Track notes
Add notes to folder or scan or
Fire up a note right in the system and
save emails in your cloud-based
say what you want to say. It will remain
folder so you can retrieve them
alongside all documentation forever.
later. Get
Give or email documents to your
Do nothing. The broker visits your
documents
broker or share your cloud-based
transaction and approves or rejects your
approved
drive, and then pray for the broker documents. There is an easy to be able to navigate throught
mechanism to resubmit documents with
the files.
little hassle from you.
Get approved
The broker usually approves the
When the broker hits “approve” your
for payment
file and then issues instructions
payment is automatically generated.
for you to get paid. Get paid
Get a check at the title company,
When the broker hits “approve” we send
bring it to the office, wait for the
payment instructions to the title
accoutning team to prepare your
company, so you get paid at closing. No
check, and then get your check.
need to come to the office.
Return Yard
Most brokerages require you to
You do not need to bring the yard sign.
Sign
bring back the yard sign as a
We have a check-out process that is
condition to get paid.
independent from the transaction. It come in handy if you have another listing and need to keep the yard sign.
R E S O U R C E S To be successful in your business, you need resources. Most of the things you need to run your business should be available through our association and through a resource package put together by your brokerage. Some brokerages charge $150 per month for a website and an email. Other brokerages promise “advanced systems” that are already provided by our association. Finally, some brokerages try to outsmart you by promising “no monthly fees” but take you to the cleaners with commissions or hidden fees. What we have done at Intero is build a resource package that costs no more than $100 per agent per month, and not make it a profit center. Beside,s it is not like we will become billionaires by nickeling and diming our people. This is what we believe a good resource structure should be like:
Item
Intero $100/mo
HAR $1,500/yr
COMMUNICATIONS Personal email, calendar and cloud-based drive with apps.
Included
Personal office extension.
Included
Optional virtual office with your own phone number).
Included
24/7 answering service with call transfers to your cell phone.
Included
Personal eFax with unlimited fax capabilities.
Included
Office eFax with unlimited faxes forwarded to your email.
Included
Mail management for your Intero business.
Included
Mail management for any side business you may have.
Included
Access to the Multiple Listing Service (MLS)
Included
Access to Commercial Gateway
Included
TECHNOLOGY
Other (Varies)
Intero $100/mo
Item
HAR $1,500/yr
Other (Varies)
Back Agent: Intero’s core system with the following features: Back Agent App. Customer Relationship Manager (CRM). Listing management: All your listings connected to MLS, MLS-To-Flyer Maker (PDF or professional prints) and more. Transaction management: All your transactions connected to MLS, Interview-style workflow (think of it as the “TurboTax” of real estate), automated transaction calendar with mobile sync, ability to send, receive and “break” faxes and drag pages into transaction workflow, real-time manager reviews, faster approvals and payments.
Included
Document center: Scripts, checklists, letter/email templates and presentations. Training center: Intero and 3rd party content, ondemand training videos, training calendar with mobile sync, class signup, class notes and materials. Vendor center: Hundreds of items for all your branding and marketing efforts. Integrations with ZipLogix and DocuSign (coming soon).
ZipForms: The system that has all TREC forms you need for your business. Included with HAR membership. It’s a must!
Included
Electronic signatures: HAR offers DigitalInk, Intero offers HelloSign, or you can subscribe to DocuSign for $30+/mo. In our honest opinion the best one is DocuSign.
Included
NuOffer: This is your all-in-one offer writing toolbox. It combines ZipForms documents, electronic signatures, and a super-cool interview-style workflow that allows you to quickly write accurate offers from your iPad, right in front of clients.
Included
BoomTown CRM: A great costumer relationship manager alternative that is also included with your Intero membership.
Included
Instant CMA: Generate sleek PDFs with side-by-side comparisons & photos.
Included
Included
$30/mo
Item
Intero $100/mo
HAR $1,500/yr
RPR (Provided by NAR): Realtor Property Resource provides powerful data, analytics and reports that will help you research properties, create dynamic CMAs and more.
Other (Varies)
Free
BRANDING & LEAD GENERATION Personal website with Full MLS search and pre-filled content. You can bring your own domain. (Example: vsellshouston.com).
Included
Personal “BoomTown” website that rocks! (Example: adam.interosellshouston.com).
Included
Optional: Build your own website. We recommend using the Wordpress platform and AgentEvolution’s “Equity” theme. Note: HAR charges $500+/year for MLS feeds.
$500+
Personal app. Intero is discontinuing its branded agent app in exchange for the new HAR agent app coming in 2015.
Included
Personal blog: HAR has one but we recommend Wordpress or Tumblr for maximum SEO “juice.”
Included
Participate in Intero’s Blog: Want to generate content in a fun way and reach thousands of people? Join us for “content events” where you blog with colleagues in a fun way. And if you don’t mind we will upload your post to our blog and push it to thousands of readers, friends and followers.
Included
Business cards (first batch free, low pricing after. Extra-thick luxury card options available at discount prices).
Included
Ready-to-print door knockers, flyers, brochures, and more.
Included
Professional just listed/just sold postcards, introductory postcards, seasonal and market update postcards, stationery, folders, name badges, business cards, magnetics, holders, gear, gifts and more from Intero preferred discount vendors.
Varies, Low cost
Hundreds of scripts and ideas for your sales conversations.
Included
Email/Letter templates for prospecting and follow up.
Included
Unlimited greeting cards/thank you notes.
Included
Professional photo (we bring pros monthly, $50/ session).
$50
Free
Item
Intero $100/mo
Professional video (green screen, choose background)
HAR $1,500/yr
Other (Varies)
$99
HAR.com profile.
Included
Realtor.com, Zillow.com Trulia.com profiles.
Free
Facebook Business Page.
Free
Twitter, Yelp and LinkedIn profiles.
Free
Zillow Premier Agent subscription (Optional, cost varies).
Varies, Low Cost
HAR.com Client Experience Rating.
Included
Email marketing system (we recommend MailChimp).
Free
Buy leads from BoomTown, the premier online lead supplier. Participate in Intero’s BoomTown lead generation program: Intero has a company-wide agreement to purchase leads from BoomTown for participating agents. (Limited availability, must reach certain goals to stay in the program, online lead generation training is given).
Varies, Expensive
Included
LISTING SUPPORT Listing presentations (Print, web, mobile).
Included
Low-priced professional listing presentation packages.
Included
Unlimited yard signs and open house signs.
Included
Option to buy an Intero vanity yard sign.
Varies, Low cost
24/7 scheduling service by Centralized Showing Service, Houston’s leading appointment schedule service provider.
Included
Showing feedback request service with reporting for you and your clients. Give them objective feedback!
Included
Listing syndication to HAR.com, Realtor.com, Zillow.com, Trulia.com, Chronicle.com, Homes.com, the Galveston News, and competing brokerage websites in Houston. Listing syndication to InteroRealEstate.com, InteroHouston.com, your personal website and your BoomTown website.
Included
Included
Item
Intero $100/mo
Listing syndication to relevant overseas real estate engines.
Included
Listing syndication to luxuryrealestate.com, the world’s biggest luxury real estate search engine.
Included
Realtor.com enhanced listings: Prominently display your listings above and beyond your competitors and get direct leads from the #1 real estate search engine.
Included
Intero Open House “Match Maker”: Host (or have someone host) more and more frequent open houses.
Included
713-REALTOR Property Hotline: A service that allows you to add a sign rider clip to your yard signs which reads “To Hear Listing Info, Call: 713-REALTOR…” with a blank to write in the MLS number for that listing.
Varies, Low Cost
LUXURY LISTING SUPPORT
Elegant, personalized Intero Prestigio Luxury Marketing Plans. Assistance through our Marketing department. Dedicated property phone number going to you or the office.
Other (Varies)
Included
Professional photography and video for your listings (Intero has access to several vendors)
Eligibility: Properties $1.5MM and above in River Oaks, Southampton and West University. Funding available.
HAR $1,500/yr
Included
$5/ea Included $50/mo
Dedicated property website and URL.
Included
Exclusive Intero Prestigio yard sign with your name and dedicated property phone and URL.
Low Cost
Submission to Intero’s referral networks in Mexico, where 80% of wealthy overseas buyers are coming from.
Included
Special connections to lenders specializing in jumbo loans, special financing, and cross-border loan originations.
Included
Museum-style audio tours for historical/modern/ design homes.
Included
Exclusive Prestigio Marketing Collateral: Professional brochures, professional photos and video.
Low Cost
Item
Intero $100/mo
Online Exposure: HAR.com, InteroRealEstate.com, InteroHouston.com, InteroPrestigio.com, LeadingRE.com, RELOHomeSearch.com, LuxuryPortfolio.com, LuxuryRealEstate.com, PropGoLuxury.com, Eleganthomes.com, DuPontregistry.com, WSJ.com, Asia.WSJ.com, Zillow.com, Trulia.com, Realtor.com, Frontdoor.com, YahooRealEstate.com, PropGo.com, ListingBook.com.
Included
Virtual Intero Prestigio Magazine listing.
Included
Social Media placement: YouTube/Facebook/Twitter dedicated channels to Intero Prestigio homes and Intero Houston. Likes, shares and retweets by Intero managers and agents to 5,000+ Houston agents and acquaintances.
Included
Direct mailings: Quarterly 250 geo-targeted direct mail campaigns (3 quarters).
Low Cost
National and international exposure: Submission to Luxury Portfolio for potential homepage placement and submission Luxury Portfolio blog entry.
Included
3-month advertising in Houston Luxury magazine ($2.5MM+)
Varies
3-month advertising in Houston Luxury magazine and Houstonian magazine ($3.5MM+)
Varies
COACHING & TRAINING Creative, collaborative environment.
Included
Direct access to your broker.
Included
Team building parties and events.
Included
Club M, out million dollar club. Do you have what it takes?
Included
Catalog of over 60 courses and workshops covering prospecting, lead generation, working with buyers/ sellers, contracts, systems, cool apps, productivity and work-life balance. Guaranteed to make you succeed!
Included
On-demand training videos.
Included
Checklists, presentations, scrips, templates, and more.
Included
Office Facebook groups that work!
Included
HAR $1,500/yr
Other (Varies)
Item
Intero $100/mo
Daily motivational belongs from Intero and industry leaders
Included
HAR $1,500/yr
Brian Buffini’s “Peak Producer” coaching program. We strongly recommend it (special Intero pricing)
Varies, Low Cost Varies, Low Cost
MCE Classes, keep your license current (costs vary) SALES PROGRAMS & EVENTS Intero accountability groups: Put your lead generation efforts in high gear alongside colleagues and moderators!
Included
MAD (Massive Action Days): Think of it as the “Insanity Workout” of sales. It’s MAD!
Included
Intero Annual Food Drive: An amazing idea to grow your farm.
Included
Intero Holiday Home Marketing Program
Included
EDDM Workshops: The cheapest way to send direct mail. We get together to sort our campaigns with pizza and drinks.
Included
Role Play Sessions: FSBOs, Expireds, Listings, Taking Buyer’s calls, and more!
Included
Field Trips: Flip projects, mortgage companies, title companies, inspections, new construction, and more.
Included
Real Estate Investment Course: Get the insights and learn how to use a really cool app to impress investors.
Included
AWARDS & RECOGNITION Club M: Intero’s million dollar club. Do you have what it takes?
Included
Mach Madness and Accountability Group Winners: Trip to Real Estate summits in Vegas, San Diego, etc.
Included
Frequent achievement awards such as companysponsored mailing campaigns.
Included
HAR’s Leadership program
Included
HAR's Rising Stars of Real Estate 20 under 40 award
Included
OFFICE AMENITIES Great locations/destinations.
Other (Varies)
Included
Item
Intero $100/mo
24/7 Multi-office access.
Included
Free office use for your networking meetings and events (it’s like booking an apartment complex lounge area, but for business and eligible personal events).
Included
Concierge desk, staffed during business hours, iPad concierge system.
Included
Business lounges.
Included
Agent Pods (private work/call spaces).
Included
Plug & Play offices (first come, first served, priority access for client meetings).
Included
Collaboration bars, “benching” tables and cubicles.
Included
Conference rooms.
Included
Production rooms with the usual assortment of tools and equipment.
Included
Full-size business copiers with unlimited copying/ printing.
Included
Sonos digital music jukebox (because we like to jam our tunes around here).
Included
Internet TVs, Apple TVs, DVD players, iPad/iPhone HDMI adapters.
Included
Charging stations/cables.
Included
Desktop and laptop loaners (In-office use only).
Included
Keurig and/or european-style coffee, bottled water, occasional fruit basket, alcoholic and non-alcoholic drinks.
Included
Business-grade wireless internet.
Included
Optional office rentals in select locations (pricing starts at $300, conditions apply). Optional virtual office featuring your own business phone number, answering during business hours, auto attendant after-hours (for sales press 1…), unlimited extensions, dial-by-name directory, voicemail-to-email, eFax, fax-to-email, iPhone/Android app for WiFi/Cellular data calls. No setup fees, monthly contract ($100). HOME OFFICE
$300+/mo
$100/mo
HAR $1,500/yr
Other (Varies)
Item
Intero $100/mo
HAR $1,500/yr
Desk and chair.
Other (Varies) $250
Laptop.
$400+
iPhone or Android.
$299+
Good camera with wide lens, or check out HDHat.com, they sell wide lenses that fit your iPhone/ Android.
$150+
Wireless color printer
$120+
Scanner with multi-sheet feeder.
$199+
Basic shredder.
$40+
Supplies (You really don’t need that much).
$100+
Small filing cabinet.
$65+
TOP 5 APPS & SUBSCRIPTIONS HAR App: Your Realtor login gives you access to additional information that comes in handy when showing properties.
Free
Google Drive: Your Intero email, calendar and cloudbased drive is powered by Google For Business.
Free
DocuSign: If you get DocuSign as your electronic signature service provider, the app is great!
Free
NuOffer: This iPad app combines the documents from ZipForms and the benefits of electronic signatures with a super-cool interview-style workflow that allows you to accurately write offers anywhere.
Included
Back Agent: The mobile app for Intero’s core system, featuring your listings and transactions connected to the MLS.
Included
R E V E N U E S Your primary source of income is the commissions you make from selling real estate. In this section you will learn how to calculate your commission, get a tangible idea of how much you would make in a year depending on the amount of volume you close, and Intero’s payment methods and requirements. Commission Example: $500,000 Transaction You close on a $500,000 transaction. The seller pays 6% commission to the seller’s agent (That’s $30,000). From the $30,000, the seller’s agent brokerage firm gets 3% ($15,000) and the buyer’s agent’s brokerage firm gets the other 3% ($15,000). Let’s assume that you are on a 70% commission split with Intero and so is the other agent with his/her firm. Here’s what happens:
O T H E R F R A N C H I S E S
Takes the commission: !
$15,000
Subtracts 5% Royalties !
($750)
Takes the commission: !
$15,000
Subtracts 8.2% Royalties
($1,230)
Then breaks the remaining
Then breaks the remaining
commission as follows:
commission as follows: $14,250
Remaining Commission!
$13,770
Intero’s Share (30%)!
$4,275
Company’s Share (30%)
$4,131
Your Share (70%)
$9,975
Agent’s Share (70%)
$9,639
Remaining Commission
Minus E&O Insurance You receive
($35) $9,940
Minus Transaction Fee
($150)
Agent receives
$9,489
Calculate Your Commission Here:
1 Enter the Sales Price
2
3
$
Enter the percentage commission (Tip: Usually 6%, sometimes 5%)
Multiply lines 1 and 2. This is the total commission for the transaction for both the buyer’s agent and the seller’s agent.
$
Enter the percentage commission for your side of the transaction. 4
(Tip: In most cases, the seller pays 6% and each side gets half of that (e.g. 3%). However, there are many cases where the seller pays 5%, the buyer’s side gets the full 3%, and the seller’s side gets 2%. Multiply lines 1 and 2.
5
Tip: This is the money that belongs to your brokerage firm before they cut your check for your share. The Title
$
Company pays that amount at closing. Enter the royalty percentage. 6 (Tip: Intero charges 5% for royalties, other franchises charge 8.2%) 7
Multiply lines 5 and 6. This is the “Gross Commission Income”
$
8 Enter your percentage split (e.g. 70%)
9
Multiply lines 8 and 9. This is your share of the Gross Commission Income.
CALCULATE COMMISSION ON YOUR MOBILE DEVICE SCAN QR CODE FOR MORE
$
From $100k to $10MM: What your Revenue will look like at Intero: The following table illustrates what your annual revenue would be if you were on a 70/30 split and closed different amounts of transactions totaling volumes between $100,000 and $10,000,000 at Intero. The calculations are based on the above example without taking into account the $35 E&O fee:
Volume
Revenue
Volume
Revenue
Volume
Revenue
Volume
Revenue
Volume
Revenue
$100,000
$1,995
$2,100,000
$41,895
$4,100,000
$88,065
$6,100,000
$139,365
$8,100,000
$190,665
$200,000
$3,990
$2,200,000
$43,890
$4,200,000
$90,630
$6,200,000
$141,930
$8,200,000
$193,230
$300,000
$5,985
$2,300,000
$45,885
$4,300,000
$93,195
$6,300,000
$144,495
$8,300,000
$195,795
$400,000
$7,980
$2,400,000
$47,880
$4,400,000
$95,760
$6,400,000
$147,060
$8,400,000
$198,360
$500,000
$9,975
$2,500,000
$49,875
$4,500,000
$98,325
$6,500,000
$149,625
$8,500,000
$200,925
$600,000
$11,970
$2,600,000
$51,870
$4,600,000
$100,890
$6,600,000
$152,190
$8,600,000
$203,490
$700,000
$13,965
$2,700,000
$53,865
$4,700,000
$103,455
$6,700,000
$154,755
$8,700,000
$206,055
$800,000
$15,960
$2,800,000
$55,860
$4,800,000
$106,020
$6,800,000
$157,320
$8,800,000
$208,620
$900,000
$17,955
$2,900,000
$57,855
$4,900,000
$108,585
$6,900,000
$159,885
$8,900,000
$211,185
$1,000,000
$19,950
$3,000,000
$59,850
$5,000,000
$111,150
$7,000,000
$162,450
$9,000,000
$213,750
$1,100,000
$21,945
$3,100,000
$62,415
$5,100,000
$113,715
$7,100,000
$165,015
$9,100,000
$216,315
$1,200,000
$23,940
$3,200,000
$64,980
$5,200,000
$116,280
$7,200,000
$167,580
$9,200,000
$218,880
$1,300,000
$25,935
$3,300,000
$67,545
$5,300,000
$118,845
$7,300,000
$170,145
$9,300,000
$221,445
$1,400,000
$27,930
$3,400,000
$70,110
$5,400,000
$121,410
$7,400,000
$172,710
$9,400,000
$224,010
$1,500,000
$29,925
$3,500,000
$72,675
$5,500,000
$123,975
$7,500,000
$175,275
$9,500,000
$226,575
$1,600,000
$31,920
$3,600,000
$75,240
$5,600,000
$126,540
$7,600,000
$177,840
$9,600,000
$229,140
$1,700,000
$33,915
$3,700,000
$77,805
$5,700,000
$129,105
$7,700,000
$180,405
$9,700,000
$231,705
$1,800,000
$35,910
$3,800,000
$80,370
$5,800,000
$131,670
$7,800,000
$182,970
$9,800,000
$234,270
$1,900,000
$37,905
$3,900,000
$82,935
$5,900,000
$134,235
$7,900,000
$185,535
$9,900,000
$236,835
$2,000,000
$39,900
$4,000,000
$85,500
$6,000,000
$136,800
$8,000,000
$188,100
$10,000,000 $239,400
See the $9,975? This is the amount indicated in the above $500,000 example. See the $59,850? This is when an agent with a 70/30 split reaches the “cap” and Intero collects $25,000 of its share of all transactions closed thus far. At that time and thereafter, the commission split jumps from 70% to 90%, so your revenue starts to to grow and accelerate. At Intero we don’t nickel-and-dime our people, so the more you sell, the more you make!
What your Revenue would look like at Another Franchise The following table illustrates what your annual revenue would be if you were on a 70/30 split and closed different amounts of transactions totaling volumes between $100,000 and $10,000,000 at a brokerage that charged 8.2% franchise fees (as compared to Intero’s 5%), and no cap (no 90% upgrade). The calculations are based on the above example without taking into account the $150 transaction fee:
Volume
Revenue
Volume
Revenue
Volume
Revenue
Volume
Revenue
Volume
Revenue
$100,000
$1,928
$2,100,000
$40,484
$4,100,000
$79,040
$6,100,000
$117,596
$8,100,000
$156,152
$200,000
$3,856
$2,200,000
$42,412
$4,200,000
$80,968
$6,200,000
$119,524
$8,200,000
$158,080
$300,000
$5,783
$2,300,000
$44,339
$4,300,000
$82,895
$6,300,000
$121,451
$8,300,000
$160,007
$400,000
$7,711
$2,400,000
$46,267
$4,400,000
$84,823
$6,400,000
$123,379
$8,400,000
$161,935
$500,000
$9,639
$2,500,000
$48,195
$4,500,000
$86,751
$6,500,000
$125,307
$8,500,000
$163,863
$600,000
$11,567
$2,600,000
$50,123
$4,600,000
$88,679
$6,600,000
$127,235
$8,600,000
$165,791
$700,000
$13,495
$2,700,000
$52,051
$4,700,000
$90,607
$6,700,000
$129,163
$8,700,000
$167,719
$800,000
$15,422
$2,800,000
$53,978
$4,800,000
$92,534
$6,800,000
$131,090
$8,800,000
$169,646
$900,000
$17,350
$2,900,000
$55,906
$4,900,000
$94,462
$6,900,000
$133,018
$8,900,000
$171,574
$1,000,000
$19,278
$3,000,000
$57,834
$5,000,000
$96,390
$7,000,000
$134,946
$9,000,000
$173,502
$1,100,000
$21,206
$3,100,000
$59,762
$5,100,000
$98,318
$7,100,000
$136,874
$9,100,000
$175,430
$1,200,000
$23,134
$3,200,000
$61,690
$5,200,000
$100,246
$7,200,000
$138,802
$9,200,000
$177,358
$1,300,000
$25,061
$3,300,000
$63,617
$5,300,000
$102,173
$7,300,000
$140,729
$9,300,000
$179,285
$1,400,000
$26,989
$3,400,000
$65,545
$5,400,000
$104,101
$7,400,000
$142,657
$9,400,000
$181,213
$1,500,000
$28,917
$3,500,000
$67,473
$5,500,000
$106,029
$7,500,000
$144,585
$9,500,000
$183,141
$1,600,000
$30,845
$3,600,000
$69,401
$5,600,000
$107,957
$7,600,000
$146,513
$9,600,000
$185,069
$1,700,000
$32,773
$3,700,000
$71,329
$5,700,000
$109,885
$7,700,000
$148,441
$9,700,000
$186,997
$1,800,000
$34,700
$3,800,000
$73,256
$5,800,000
$111,812
$7,800,000
$150,368
$9,800,000
$188,924
$1,900,000
$36,628
$3,900,000
$75,184
$5,900,000
$113,740
$7,900,000
$152,296
$9,900,000
$190,852
$2,000,000
$38,556
$4,000,000
$77,112
$6,000,000
$115,668
$8,000,000
$154,224
$10,000,000 $192,780
See the $9,639? This is the amount indicated in the above example.
What your Revenue would look like a Luxury Brokerage The following table illustrates what your annual revenue would be if you closed different amounts of transactions totaling volumes between $100,000 and $10,000,000 at one of Houston’s luxury brokerages that charges no franchise fee but charges a split of 50/50 with no cap:
Volume
Revenue
Volume
Revenue
Volume
Revenue
Volume
Revenue
Volume
Revenue
$100,000
$1,500
$2,100,000
$31,500
$4,100,000
$61,500
$6,100,000
$91,500
$8,100,000
$121,500
$200,000
$3,000
$2,200,000
$33,000
$4,200,000
$63,000
$6,200,000
$93,000
$8,200,000
$123,000
$300,000
$4,500
$2,300,000
$34,500
$4,300,000
$64,500
$6,300,000
$94,500
$8,300,000
$124,500
$400,000
$6,000
$2,400,000
$36,000
$4,400,000
$66,000
$6,400,000
$96,000
$8,400,000
$126,000
$500,000
$7,500
$2,500,000
$37,500
$4,500,000
$67,500
$6,500,000
$97,500
$8,500,000
$127,500
$600,000
$9,000
$2,600,000
$39,000
$4,600,000
$69,000
$6,600,000
$99,000
$8,600,000
$129,000
$700,000
$10,500
$2,700,000
$40,500
$4,700,000
$70,500
$6,700,000
$100,500
$8,700,000
$130,500
$800,000
$12,000
$2,800,000
$42,000
$4,800,000
$72,000
$6,800,000
$102,000
$8,800,000
$132,000
$900,000
$13,500
$2,900,000
$43,500
$4,900,000
$73,500
$6,900,000
$103,500
$8,900,000
$133,500
$1,000,000
$15,000
$3,000,000
$45,000
$5,000,000
$75,000
$7,000,000
$105,000
$9,000,000
$135,000
$1,100,000
$16,500
$3,100,000
$46,500
$5,100,000
$76,500
$7,100,000
$106,500
$9,100,000
$136,500
$1,200,000
$18,000
$3,200,000
$48,000
$5,200,000
$78,000
$7,200,000
$108,000
$9,200,000
$138,000
$1,300,000
$19,500
$3,300,000
$49,500
$5,300,000
$79,500
$7,300,000
$109,500
$9,300,000
$139,500
$1,400,000
$21,000
$3,400,000
$51,000
$5,400,000
$81,000
$7,400,000
$111,000
$9,400,000
$141,000
$1,500,000
$22,500
$3,500,000
$52,500
$5,500,000
$82,500
$7,500,000
$112,500
$9,500,000
$142,500
$1,600,000
$24,000
$3,600,000
$54,000
$5,600,000
$84,000
$7,600,000
$114,000
$9,600,000
$144,000
$1,700,000
$25,500
$3,700,000
$55,500
$5,700,000
$85,500
$7,700,000
$115,500
$9,700,000
$145,500
$1,800,000
$27,000
$3,800,000
$57,000
$5,800,000
$87,000
$7,800,000
$117,000
$9,800,000
$147,000
$1,900,000
$28,500
$3,900,000
$58,500
$5,900,000
$88,500
$7,900,000
$118,500
$9,900,000
$148,500
$2,000,000
$30,000
$4,000,000
$60,000
$6,000,000
$90,000
$8,000,000
$120,000
$10,000,000 $150,000
E X P E N S E S Real estate it’s not about NOT spending, its about spending WISELY and PROPORTIONATELY to the amount of sales your business achieves. If you think you can make money without spending money, then you should rethink your strategy. No business thrives without a good amount of expenses. Expense Statistics According to the 2014 Member Profile study by the National Association of REALTORSŽ, the median of real estate business expenses for Texas realtors is $6,070 per year. The breakdown is as follows:
Total Real Estate Business Expenses
Percentage of Texas Realtors
None per year
6%
Less than $500 per year
3%
$500 to $999 per year
6%
$1,000 to $2,499 per year
13%
$2,500 to $4,999 per year
19%
$5,000 to $9,999
15%
$10,000 to $19,999
11%
$20,000 to $29,999
7%
$30,000 to $49,999
8%
$50,000 to $99,999
2%
$100,000 or more
3%
Median
$6,070
Intero’s Conclusions Our geeks at Intero came up with a crazy idea: What if we cross-referenced your Intero revenues against the $6,070 Texas median and calculate your profit? Here are the results:
Annual Volume
Annual Revenues
Annual Costs
Annual Profits
$100,000
$1,995
$6,070
-$4,075
$200,000
$3,990
$6,070
-$2,080
$300,000
$5,985
$6,070
-$85
$400,000
$7,980
$6,070
$1,910
$500,000
$9,975
$6,070
$3,905
$600,000
$11,970
$6,070
$5,900
$700,000
$13,965
$6,070
$7,895
$800,000
$15,960
$6,070
$9,890
$900,000
$17,955
$6,070
$11,885
$1,000,000
$19,950
$6,070
$13,880
$2,000,000
$39,900
$6,070
$33,830
$3,000,000
$59,850
$6,070
$53,780
$4,000,000
$85,500
$6,070
$79,430
$5,000,000
$111,150
$6,070
$105,080
$6,000,000
$136,800
$6,070
$130,730
$7,000,000
$162,450
$6,070
$156,380
$8,000,000
$188,100
$6,070
$182,030
$9,000,000
$213,750
$6,070
$207,680
$10,000,000
$239,400
$6,070
$233,330
$15,000,000
$367,650
$6,070
$361,580
$20,000,000
$495,900
$6,070
$489,830
$30,000,000
$752,400
$6,070
$746,330
$40,000,000
$1,008,900
$6,070
$1,002,830
$50,000,000
$1,265,400
$6,070
$1,259,330
Here are two things to consider from our analysis: 1) According to the 2014 Member Profile study by the National Association of REALTORS®, the median of real estate business income for Texas realtors is a little under $50,000 per year. That means that you should be closing no less than $3,000,000 per year to make $50,000. 2) There is no way in the world that someone who is closing $50,000,000 in volume will spend only $6,070. At some point you have to spend more than $6,070. By the time you are closing 20, 30, 40 or 50 million, you will likely have administrative personnel and a decent support infrastructure. That costs money. You should be happy spending lots of money to support such a profitable business!
Intero’s Expense Proposal Telling you how much to spend is almost impossible because it is a very personal thing. What we can do, however, is to propose certain spending criteria we feel works best in this business: • When your business is running at $3,000,000 or less in closed sales, spend the Texas median of $505/month or $6,070 per year. • When your business is closing between $3,000,000 and $10,000,000, spend 15% of your revenues. This is not the time to be cheap - it is the time to grow the business so your volume does not dwindle. • When your business is closing between $10,000,000 and $20,000,000, spend 20% of your revenues to ensure sustainable growth. • When your business is closing over $20,000,000, spend 25% of your revenues. By the way, imagine a business with expenses totaling just 25% of sales. That’s great! Very few businesses can pull that off, but you can in real estate! Now, let’s take a look at the table again, this time with our proposed expenses. This is a more realistic picture in our industry:
Annual Volume
Annual Revenues
Annual Costs
Annual Profits
$100,000
$1,995
$6,070
-$4,075
$200,000
$3,990
$6,070
-$2,080
$300,000
$5,985
$6,070
-$85
Startup Phase: At $6,070/year you’re loosing money until reaching about $400k in volume. You may have some “one hit wonders” and things may be okay, but make
$400,000
$7,980
$6,070
$1,910
$500,000
$9,975
$6,070
$3,905
million in sales volume is probably the
$600,000
$11,970
$6,070
$5,900
hardest thing about this business. Stay
$700,000
$13,965
$6,070
$7,895
$800,000
$15,960
$6,070
$9,890
$900,000
$17,955
$6,070
$11,885
$1,000,000
$19,950
$6,070
$13,880
no mistake: Surpassing and maintaining a
positive and focused!
Growth Phase: This is where keeping $2,000,000
$39,900
$6,070
$33,830
costs at $6,070/year becomes difficult in light of growth because you have to spend
$3,000,000
$59,850
$6,070
$53,780
$4,000,000
$85,500
$12,825
$72,675
$5,000,000
$111,150
$16,673
$94,478
$6,000,000
$136,800
$20,520
$116,280
$7,000,000
$162,450
$24,368
$138,083
$8,000,000
$188,100
$28,215
$159,885
$9,000,000
$213,750
$32,063
$181,688
$10,000,000
$239,400
$47,880
$191,520
$15,000,000
$367,650
$73,530
$294,120
$20,000,000
$495,900
$123,975
$371,925
$30,000,000
$752,400
$188,100
$564,300
$40,000,000
$1,008,900
$252,225
$756,675
$50,000,000
$1,265,400
$316,350
$949,050
money to make money. This is not the time to be cheap, you should be thinking “grow it and sustain it.” Your first $100,000 in net revenues comes around $5,000,000.
Consolidation Phase: You gradually begin increasing costs to 15%, 20% and 25% commensurate with sales. You are starting to deploy a million-dollar business!
Awesome Phase: Get ready for some big decisions. You are now among Houston’s top 1% producers!
Exercise Write down your estimated expenses for the next 12 months below:
Item BUSINESS EXPENSES HAR, TREC, TAR, NAR, MLS Dues, MCE Classes Intero membership (includes most business expenses) Business Entertainment (Meals, Coffee, Events) Additional Coaching Communications (cell phone) Education (Seminars, books, CD’s, etc.) Equipment & Supplies (Laptop, office supplies, etc.) Accounting/CPA (Taxes) MARKETING EXPENSES Print Advertising Digital Marketing Direct Mail (Print and mail) Flyers, Brochures, Presentation Materials Promotional (Gifts, Event Tickets, Sponsorships, etc.) Marketing Consulting Outside Services (Consulting, Bookkeeping, etc.) Transaction Coordination Travel Expenses to real estate summits IRA Contribution Wages (Assistant, Employees) PERSONAL EXPENSES Auto Gas Auto Insurance Auto Maintenance Auto Payments (Lease/Loan) Auto Purchase
Monthly
Annually
Item Auto Registration CATV/Satellite TV Charitable Contribution Childcare Clothing Club Membership Entertainment Food & Groceries General Household Items Household Utilities Life Insurance Medical/Dental Expense Mortgages/Rent Personal Savings Property Taxes School Tuition K-12 Vacation Retirement Savings College Funds TOTAL EXPENSES
Monthly
Annually
C H O O S I N G B R O K E R A G E S You success will be dramatically influenced by the brokerage you align with. As independent as you are, you need a brokerage with a strong leadership team that makes promises they keep. One that is aggressively driven by values rather defensively driven by circumstances. One that is intuitive enough to provide the things you need before you have to ask for them. Here’s what we recommend: Leadership
Accountability
Don’t join an easy crowd … where the
Can’t see it? Then you can’t measure it. Can’t
expectations are low … or where they don’t
measure it? Then you can’t improve it. Can’t
care … the problem with that is you won’t grow
improve it? Might as well close up shop.
… go where the expectations are high … go
Because your fiercest competitor is most
where you’re challenged to study, to read, to
certainly measuring, improving and using what
change, to develop, to learn the next skill and to
they learn to grab your share of the pie. Do you
stay ahead of your competition.
want a brokerage that trains you or a broker that pushes you to achieve great success? Many
The Office
agents don’t join Intero because we deploy
The real estate office is no longer the workplace,
accountability programs, but those that do join
it is a workspace for mobile sales professionals.
us see great results.
Go with a brokerage that understands this. The one that has had the courage to shift the focus
Work-Life Balance
to the people that enjoy the spaces and not just
A career in real estate should be fun,
the spaces themselves. The one that stopped
uncluttered, balanced and financially rewarding.
building offices with 200+ agents. The one who
You want to love where you work, love your
is building smaller environments that foster
collegaues, love your clients, and love to see
innovation and collaboration. The place where
that you are building a better life through real
people to work and connect with each other, as
estate.
compared of working in a vaccum. Culture Technology
Culture is an almost indescribable thing. Yet it’s
Don’t fall for the technology “sales pitch”. Many
as real as rain. Its existence isn’t just a happy
brokers toss that word around as a catch-all for
accident, though it does evolve organically. It’s
everything new and exciting. But you know very
what happens when a company is made up of
well that in this digital world of ours what really
people who are not there just to grab a
matters are the remote processes that a
paycheck and run. It’s what happens when a
brokerage implements, and its ability to
group of like-minded people who share values
constantly find the latest tools and the coolest
and sensibilities pull together and toil toward a
ways to get the job done.
common goal. A goal of excellence.
Get The Right Training
Size doesn’t fit all when it comes to real estate training. That’s why we have a catalog with over 60 classes, workshops, field trips and videos guaranteed to accelerate your career to the next level.
BUILDING YOUR SPHERE. This is the foundation of your business. We start from the ground up and work with you to create the database you need to keep your business consistent. Workshop, 1hr
BROKER ONE-ON-ONE. New members of our team are placed on the schedule right away for their “Broker One-On-One” meeting. Let us help you build the foundation and business plan you need to reach the goals you’ve created for yourself. 1on1, 1hr “PROVIZIO” ORIENTATION COURSE. Intero has powerful systems and high standards for our agents. New members need to be aware of everything from the newest real estate technology to the correct way to answer a potential client when asked about home values. This one week intensive class with set you on the path to success. Class, 1week AGENT FUNDAMENTALS. Buyers, sellers, contracts, agreements, addenda... The list is endless. Join us every Friday for our Agent Fundamentals class where we will review the basics of our business so you never miss a beat when you’re out in the field.This class is suitable for all experience levels. Class, 1hr, every Friday
PROSPECTING
O R I E N TAT I O N
INTERNET MARKETING. Need leads or looking to market your listing in more than one place? This is the class for you. Learn unconventional ways to get more business sooner than later. Class, 1hr MOBILE MARKETING. Did you know more people search for home through their mobile device than on their home computer? Mobile technology is every changing. Learn how to correctly utilize this important piece of the real estate marking puzzle. Class, 30min
CONTENT EVENTS. Neglecting your blog? Don’t even have one yet? We know the daily tasks of real estate can be overwhelming and finding the time to write articles on your community may be the last thing on your list. Join the team while we block out the time to write together in a fun, casual atmosphere. Workshop, 1.5hrs DIRECT MARKETING. Traditional mail? Yes, and believe us it works. Learn the ins and out of using direct mail in your efforts to farm your chosen neighborhood. Explore options on designing your own material or ordering from one of the Intero preferred vendors. Farming is the most important piece of real estate marketing. Learn how to do it the right way. Class, 1hr
EMAIL MARKETING. From consistent contact with your sphere of influence to blasting our your new listing to the agents that surround it, learn how to generate business through the power of email. Workshop, 1.5hrs FACEBOOK, TWITTER & LINKEDIN MAKEOVER. We know you have a handle on social media, by now everyone does. But are you using it to it’s full potential when it comes to your business? Learn the fine line between overkill and lead generation in this powerful hands on class. Workshop, 1.5hrs REALTOR, ZILLOW, TRULIA & HAR PROFILE MAKEOVER. If you don’t think a vibrant presence on these websites are important you are dead wrong. Follow us as we teach you how to create the best profiles to build both your reputation and your pocketbook. Workshop, 1.5hrs YELP MAKEOVER. Online reviews are no longer something you can hide from. We will show you how to create a business account on Yelp so consumers can find you and past clients can rave about you. Workshop, 1hr POWER FARMING. Direct mail, door knocking, community events... The list is endless. Come with an open mind and explore the different ways you can generate business by working within your specific neighborhood. Class, 30 min
GREETING CARD WORKSHOP. We always have great intentions when it comes to writing greetings cards, right? Help us help you by joining in on the fun of this workshop. Bring your database with home addresses and prepare for hand cramps. Workshop, 1hr
L E A D G E N E R AT I O N
TAKING A BUYER’S CALL. This sounds a lot easier than it actually is. Do you feel c o n fi d e n t t h a t y o u c a n c o n v e r t a prospective buyer into a real client? Do you know the right questions to ask? It’s time to learn. Role Play, 1hr LEAD GENERATION ROADMAP. The list is endless when it comes to lead generation but there are definitely a few basics you need under your belt to succeed. Learn how to build a foundation that will help generate leads over the entire span of your career. Class, 1hr INTERNET LEADS. You can buy them or you can try to do it for free. Learn the best practices and places to go for the most effective online real estate internet lead generation. Class, 1hr INTERO APP LEADS. Create your own Intero mobile app and then reap the benefits of the leads you will find rolling in. Learn how to promote your app so consumers see you as their go to real estate professional from the convenience of their phone or tablet. Class, 1hr OPEN HOUSE LEADS. Believe it or not there is a right way and a wrong way to hold an open house. Learn the best way to secure leads and hold a successful open house in this must take session. Class, 1hr INTERO FLOOR TIME. This class is mandatory before a new member can sign up for floor time. Learn scripts, sales techniques and more to assist in making the most of your next floor time shift. Role Play, 1hr INTERO RELOCATION. Have a client in NYC and you have no idea who to pair them with for their next real estate transaction? Fear not! Take this class to learn how the Intero Relocation program works. Send your leads to trusted professionals across the globe and relax knowing your referral fee is guaranteed. Class, 45min
TALKING TO FSBOs. Does the thought of knocking on a FSBO door make you sick to your stomach? Confidence is key! Learn what they want to hear and the truth behind what you can provide to take their home from available to sold! Role Play, 1hr
WORKING WITH BUYERS
INTERO STORE LEADS. Welcome to the Intero Store! A new idea for a fast moving real estate market! Enjoy the benefit of unlimited foot traffic as you sit in this open concept space. Learn the right way to engage the consumer as they look for your expertise in everything real estate related. Class, 1hr
THE HOME BUYING PROCESS. We will start with the initial conversation between a potential buyer and agent and continue though the entire process to the closing table. All of the details in between will be covered so you can feel confident in your ability to represent a buyer the way they deserve. Class, 1hr PROFILE OF TODAY’S BUYERS. Depending on the area you wish to concentrate on, the profile of buyers in the area is something you need to keep an eye on. Understanding the demographics of the consumers in your target market will assist you in your lead generation endeavors. Class, 1hr
TALKING TO EXPIRED LISTINGS. They obviously want to sell their home but it never happened. This is why expired listings are a terrific place to start for new agents. Learn the right way to approach this specific type of seller and how to close the deal. Role Play, 1hr DOOR KNOCKING. You’re not selling vacuums, you’re selling homes so it’s fairly logical to think knocking on the doors of your farm area is a good idea. Learn what you need to make this a effective form of lead generation. Role Play, 1hr
P R O F I L E O F I N T E R N AT I O N A L BUYERS. Understanding the profile of international buyers is incredibly important if you plan on working with them. Learn the details on what they expect from you as an agent and how you can prospect effectively to this specific market. Class, 1hr
B U Y E R R E P R E S E N TAT I O N AGREEMENT. If you value your time this may be a class you would enjoy. The benefits of a Buyer’s Representation Agreement is incredibly important when working with buyers regardless of your relationship with them. You would never work on selling a home without a listing agreement so why would you work with a buyer without a signed buyers rep? Learn more about the legality of this form and its importance as a buyer’s agent. Class, 1hr
SHOWING HOMES. If you’ve never done it you don’t know how until you try it! Travel with us as we visit three local home for sale and give pointers on how to effectively show a home to an interested buyer. Learn the appropriate terminology and a few tricks of the trade. Field Trip, 1.5hrs DO’S AND DONT’S: CONFIDENTIALITY AND THE FAIR HOUSING ACT. How you react in certain real estate related conversations can greatly impact your career and even more so your real estate license. Be smar t and understand the consequences of your actions all the while continuing to represent your client to the best of your ability. Class, 45min MAKING OFFERS. They’ve finally found the perfect house. Great! Now what’s next? You need to prepare an offer and submit it to the listing agent all in a timely manner. Learn more about this process and the systems Intero agents use to create a seamless transaction absent of any rookie mistakes. Class, 1hr MORTGAGE. Mortgage is a big word. There are always new programs and specifics that even the most experienced of agent would have a hard time remembering. Learn the basics of what a mortgage is so you can better educate your clients. Class, 1hr HOME WARRANTY. What is a home warranty anyway? Is it the same thing as home owners insurance? No, no it is not. This is a commonly asked question so we are here to provide some clarification. We will explain why buyers need them and why sellers should expect to pay for them. Class, 45min INSPECTIONS. Your contract has been expected and now it’s time for inspections. Who do you call? What do they do? What happens when you get the report? Learn all about home inspections and how they protect your buyer from any unexpected surprises after closing. Class, 45min
WORKING WITH SELLERS
HOW TO QUALIFY BUYERS. How do you go about pre-qualifying a buyer before they even speak to a lender?Simple steps to learn the best practices for prequalification. Class, 1hr
THE HOME SELLING PROCESS. This class provides a guide to selling homes f r o m s t a r t t o fi n i s h . L e a r n y o u r responsibilities as a listing agent from the initial meeting with your seller to effective communication with the title company. You will leave this class with the confidence you need to begin working with sellers. Class, 1hr INTERO MARKETING RESOURCES. Intero has several resources for your marketing needs. From in-house design options to online ordering, learn more about the companies we have paired with to assist you in your marketing endeavors. Class, 45min PREPARING A CMA. This may be the single most important workshop Intero offers. Without the ability to create a comparative market analysis you are incapable of providing the one thing a seller truly needs to know... The value of their home. Learn ways to create a standard CMA along with a dynamic CMA meant to wow your clients during listing presentations. Creating an accurate CMA and understanding how to communicate the information to the seller is one of the most important skills you need in this business. Workshop, 1hr INTERO LISTING PRESENTATIONS. The art of the presenting your materials to a potential seller is one not to be taken lightly. What you say can make or break a deal within seconds. Learn what you need to take with you and the right way to handle the conversation to ensure the meeting concludes with the seller confident in your abilities to sell their home. Class, 1hr
40 SELLER OBJECTIONS HANDLED. Know within seconds how to respond to over 40 seller objections. We cover everything from “My friend is a Realtor”, to “I am going to try to sell it myself for the first month”. Don’t lose your next listing from being inexperienced when it comes to sales skills. You must practice scripts like these just like a performer rehearses their act before going on stage in front of a live audience. It’s more important than you may think. Workshop, 1.5hrs NEGOTIATING YOUR COMMISSION. The questions always comes up. The seller wants you to list their home for a reduced commission. How do you respond? Keep in mind you are about to lose out on thousands of dollars. Learn the skills you need to handle this conversation without skipping a beat. Walk out of your listing appointment with the commission you deserve and your head held high because you know the services you provide are worth every penny. Class, 45min LISTING AGREEMENT. Learn how to prepare a listing agreement along with the other required addenda the correct way. Class, 45min PIMP MY HOUSE: STAGING TIPS. You walk into a potential new listing and stare in awe at the clutter that’s packed into every corner of the home like an old dusty storage unit. What do you say? Better yet, what do you to make the home appealing to a buyer? Learn the right way to bring up the subject with your seller along with tips on how to stage the home with things the sellers already has. A simple and effective way to make your listing standout from the competition. Class, 1hr
HOUSTON INVESTMENT MARKET OVERVIEW. Jump in as we explore available inventory and discuss possible scenarios that could work for each type of investor. Field Trip, 1.5hrs INTRODUCTION TO HARD MONEY LOANS. There’s more to hard money loans than what you learn from late night infomercials. Believe it or not this is a very lucrative form of real estate investing. Learn the fundamentals of this tricky type of loan program. Class, 1hr
GIVING OBJECTIVE FEEDBACK. Sellers want feedback when their home is shown or an open house is held. How do you provide feedback that will help them sell their home faster? Learn the right methods for collecting objective feedback. Class, 45min HOW TO TELL THEM: REDUCING THE LIST PRICE. The house isn’t selling. You know you priced it too high and now it’s time to take action. Learn the right way to bring the conversation up with your seller in order to get the price reduction you need to get the home sold sooner than later. Class, 45min
I N R E A L E S TAT E
OPEN HOUSES FOR SELLERS. Impromptu open houses don’t work. Open houses need to be scheduled and promoted the right way for maximum results. Learn the steps needed for a successful open house. Class, 45min
COURT STEPS FIELD TRIP. Every first Tuesday of the month thousands of homes are auctioned off on the courthouse steps from all over the country. The reality is, that most times it could have been avoided. Most banks as well as Fannie Mae and Freddie Mac have implemented many programs to assist distressed homeowners, yet for some reason statistically 75% of all homeowners that are facing foreclosure do nothing. Learn more about how this process works firsthand as we visit the auction in person. Field Trip, 2hrs C A L C U L AT I N G C A S H F L O W O F RENTAL PROPERTIES
INVESTING
If you can’t assist your clients with calculating cash flow on potential purchases you shouldn’t be working with them in the first place. Don’t look like a deer in the headlights, educate yourself now so you can have the right answers. Class, 1hr
R E A L E S TAT E I N V E S T M E N T FUNDAMENTALS. You need to have a clear understanding of real estate investments before you dive in. Explore the basics so you can start working with investors right away. Class, 1hr FLIP THIS HOUSE! Interested in flipping? Not pancakes... Houses. Learn the basics of home flipping from industry experts. Find out how to judge a fabulous deal from a potential money pit disaster. Field Trip, 1.5hrs
PROPERTY MANAGEMENT. Learn the basics of property management from our in house property manager. Next time your investor asks you a question on how to deal with their non-paying tenants smile, you know the answer! Class, 1hr
RENTAL PROPERTY APP. Did you know there was even an app for that?! Look like an investor genius with the help of this handy app equipped with the knowledge you need to impress your clients and close the deal. Class, 1hr
TRANSACTION MANAGEMENT
PUTTING LISTINGS IN THE MLS. Sounds simple enough but if you’ve never done it before it may be more complicated than you think. When you get your first listing you will have a one on one class session to explain the process. 1on1
B A C K A G E N T. L e a r n h o w t o u s e BackAgent for your real estate transactions... you have to anyway - it’s our system of record... trust us, it will make your life a lot easier. Class, 1hr ELECTRONIC SIGNATURES. A quick exercise where you pull a contract using ZipForms and have someone sign it using DocuSign. Stop driving around town with a pen! Workshop, 30min
CENTRALIZED SHOWING SERVICE. You got a listing! YAY! Now it’s time to get it ready for showings. Learn more about the Centralized Showing Service website and how you input your listings for easy and convenient showings. Class, 45min ZIPFORMS. You’re a member of TAR which means you have access to Zipforms. Thank goodness since this is the system you will be using everyday for the rest of your career. Learn the basics now so you don’t have issues later! Workshop, 1hr TEMPO/FUSION Tempo and Fusion are the two systems available through HAR for members. Once you become a member of HAR you will have access. The better you are at using these websites the better Realtor you will become. Class, 1.5hrs RPR. Realtor Property Resource provides powerful data, analytics and reports for all members of NAR. Created by NAR for the sole purpose of providing REALTORS® with the data they need to meet the demands of their clients. This robust new system will help yoru research properties, create dynamic CMA’s and so much more! Class, 2 hr (MCE Credit)
CONTRACT WORKSHOPS. Fill in a sample of the following contracts and documents and get some street-smart insights on how to dominate your next deal. • Unimproved Property Contract • 1 TO 4 Family Residential Contract • New Home Contract • Commercial Contract • Contract Addenda Workshops, 1hr each HUD STATEMENT. Learn how to read the document everyone loves to sign at the closing table. We show the lines, the numbers, and how to spot mistakes. Class, 1hr NET SHEETS. Learn how to read the document everyone loves to sign at the closing table. We show the lines, the numbers, and how to spot mistakes. Workshop, 1hr TITLE PROCESS. A tour with the owner/ manager of a title company who will tell you all there is to know about title and how they can help you and your clients. Field Trip, 1hr DEAL NEGOTIATIONS. Think negotiating skills are something that come naturally? Think again. The fine art of negotiation is something people work on their entire lives. Strive to be the best and represent your clients to the best of your ability. Class, 1hr
WORK-LIFE BALANCE
TREC CONTRACTS OVERVIEW. An overview of the most commonly used contracts/addenda and how to apply them to your every day life. Class, 1hr
B U I L D A N E L E VAT O R S P E E C H . Assemble your very own quick speech with the help of creative collaborators and some pre-made scripts. Workshop, 30min NETWORKING EFFECTIVELY. Learn about what to do at events, identifying verbal and non-verbal behavior, engaging people, listening, following up, and knowing how to go for the kill. A totally energetic, motivating experience. Class, 1hr
PHOTO SHOOT. Need to have your picture taken? Do it Intero style! We bring a professional photographer and put some some cool music. All you have to do is show up and look amazing! Mornings, monthly MAD - MASSIVE ACTION DAY!. Put your business into high gear! Begin the day with some exercise, juice, motivational speeches, and some heavy-duty lead generation efforts. Think of it as the “insanity workout” of real estate sales, it’s MAD! Workshop, 8hrs HE REAL ESTATE BUSINESS MODEL CANVAS. Visualize your real estate business in a unique, holistic way: See your customer segments, marketing channels, key activities, key resources, revenues and expenses. We help you set the stage to align your efforts with sales strategies that work for you. If it’s time you get organized this is the class for you. Class, 1hr
HOUSTON FIELD TRIPS. Join us as we head out for an exciting adventure at one of Houston’s most popular spots. Learn more about the city you know and love! 1.5hrs COOL APPS! Discover new tech tools and tips for how to put it to work in your business. This is an ever-changing class you can take over and over again, we encourage you to ask for updates. Class, 1hr NEIGHBORHOOD TOURS. Let’s go for a drive! Jump in as we head out to tour the areas you want to sell. Learn the history of the neighborhoods you know and love. The more you know the better Realtor you become! Field Trip, 1.5hrs
PERSONAL FINANCE 101. Personal finance is the cornerstone to living a happy, healthy and successful life. The first step in your personal finance education should be knowing what options are there, and this is exactly what this class is meant to do. Class, 1hr
REALTOR ETIQUETTE. Intero has standard which you need to abide by. Be the best in the business by knowing what to do and when to do it. Your reputation is all you’ve got. Make sure you build a strong one. Class, 1hr
LIFE & HEALTH INSURANCE. Check out your options with an expert in the field. Class, 1hr
DYNAMIC MARKETING. Love the idea of creating amazing marketing pieces to send out to your farm area but have absolutely no idea where to start? Join us as we engage your creative sprit and hopefully get you some business while doing so. Class, 1hr
INTERO’S CODE
I
of A W E S O M E N E S S
DARE TO DREAM BIG.
I evolve
through learning. I am positive & passionate. I practice transparency & candor. I help others rock their greatest lives. i turn customers
into raving fans. i am grateful & I celebrate life.
ass.
i kick serious
I AM A MONEY MAGNET. I HONOR
MY WORDS WITH ACTION.
CONCLUSION We hope that this workbook helped you visualize the activities you need to perform to grow sales and run an efficient operation. Intero is a collaborative real estate brokerage where like-minded people help each other build businesses and other cool things together. If you are looking for a fresh approach and would like to consider a career at Intero, please do not hesitate to contact us. Sincerely, Your friends at Intero
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InteroHouston.com
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InteroHouston
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InteroHouston
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Intero Real Estate
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InteroMojo
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InteroHouston
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Intero is a collaborative real estate brokerage where like-minded people help each other build businesses and other cool things together.
West Ave
The Woodlands
Pearland
Fairfield
Headquarters
2800 Kirby Drive
9595 Six Pines 8201
Hwy288 & FM 518
28550 Highway 290
10275 N De Anza
Houston TX 77098
Woodlands TX 77380
Pearland TX 77584
Cypress TX 77433
Cupertino CA 95014
(713) 568-2389
(281) 916-1227
(713) 533-8133
(281) 916-1227
(408) 852-3500
i n t e r o h o u s t o n . c o m
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