Fall In Love With Real Estate KWFR19

FALL IN LOVE WITH REAL ESTATE AGAIN The Best Career Opportunity The Best Business Opportunity

© 2019 Keller Williams Realty, Inc.

The Best Career Opportunity

1 Low Cost of Entry for Self-Employed Opportunity Real Estate Agent Insurance Agent Certified Public Accountant Attorney

Š 2019 Keller Williams Realty, Inc.

$2,563 $5,243 $17,840 $122,594

Real Estate Sales Annual Income Opportunity

The Best Career Opportunity

2 No Financial Ceiling

Salary

Time Š 2019 Keller Williams Realty, Inc.

The Best Career Opportunity

3 Freedom to Choose Your Work

?

Options

Focused Choice

Options

© 2019 Keller Williams Realty, Inc.

The Best Career Opportunity

4 Flexibility of Schedule S

M

T

W

Flexibility to choose your hours does not include 'no hours' Š 2019 Keller Williams Realty, Inc.

T

F

When you choose fewer hours you, have to prioritize

S

The Best Career Opportunity

5 High Financial Return for Effort Given

Income

Income

Time

Effort

"I worked 8 hours" Focus on time worked

"I did 8 hours of work" Focus on work accomplished © 2019 Keller Williams Realty, Inc.

The Best Career Opportunity

6 Inside Opportunity to Invest Agent “I’m listing this property!”

Agent / Investor “Should I buy this property or should I list it?”

© 2019 Keller Williams Realty, Inc.

The Best Career Opportunity

7 Get to Help People with Their Greatest Asset Purchase The average net worth of a renter is $5,200

The average net worth of a homeowner is $238,400

That’s 45X! 2017 Survey of Consumer Finances

Š 2019 Keller Williams Realty, Inc.

2019, Terrible Real Estate Agent Photographs

The Best Career Opportunity

8 Best Voyeur Job

Š 2019 Keller Williams Realty, Inc.

2018, Terrible Real Estate Agent Photographs

The Best Career Opportunity

8 Best Voyeur Job

Š 2019 Keller Williams Realty, Inc.

2018, Terrible Real Estate Agent Photographs

The Best Career Opportunity

8 Best Voyeur Job

Š 2019 Keller Williams Realty, Inc.

Admin Sales

Sales do u yo

u

W

a eg

ha t

l de

Lead Gen

Listings

yo

Listings

t ha

W te

The Best Business Opportunity

1 A Simple Process of Delegation

Š 2019 Keller Williams Realty, Inc.

Lead Gen

The Best Business Opportunity

2 Low Capital Investment – High Cash Flow Business 1 2 3 4

Initial Investment

Average Pre-Tax Income

Kona Ice

$124,750

$90,388

MaidPro

$74,560

$80,756

Fastsigns

$193,548

$89,784

Christian Brothers Automotive

$458,950

$106,500

Average of Top 20

$208,978

$80,512

Source: Franchise Business Review Top 200 Š 2019 Keller Williams Realty, Inc.

WHY DO WE FALL OUT OF LOVE WITH REAL ESTATE?

© 2019 Keller Williams Realty, Inc.

e

ag

Li

st

er

v Le

in gs

1 Don’t know WHAT to do

Leads “Doing Things That Suck Energy and Working with People That Suck Energy.” © 2019 Keller Williams Realty, Inc.

2 Don’t know HOW to do it

1

Learn lead generation from at least three sources

2

Learn the rest as you go

“Doing Things That Suck Energy and Working with People That Suck Energy.” © 2019 Keller Williams Realty, Inc.

3 Too much to do – too little time This is a simple business when you focus.

There is lead generation and everything else.

Time block accordingly.

S

M

T

W

T

F

S

“Doing Things That Suck Energy and Working with People That Suck Energy.” © 2019 Keller Williams Realty, Inc.

4 Failure to follow the plan

1

Plans fail when they get complicated

3

2 Focus on growing the business and then on running it

So keep things simple

4

Let complexity show up naturally as your success requires attention to detail

“Doing Things That Suck Energy and Working with People That Suck Energy.” © 2019 Keller Williams Realty, Inc.

5 Overcommitted

1

Don’t prioritize

3

2 Don’t delegate

Don’t say NO

4

Don’t manage expenses

“Doing Things That Suck Energy and Working with People That Suck Energy.” © 2019 Keller Williams Realty, Inc.

6 The wrong people doing the wrong things No Accountability

Poor Hire

You get the job back or you get drama!

No Standards

“Doing Things That Suck Energy and Working with People That Suck Energy.” © 2019 Keller Williams Realty, Inc.

Poor Training

7 Don’t manage health Spiritual

Financial

Physical

Emotional

“Doing Things That Suck Energy and Working with People That Suck Energy.” © 2019 Keller Williams Realty, Inc.

WHY DO WE LOSE THE FUN?

© 2019 Keller Williams Realty, Inc.

1 We don't keep the fun in lead generation

1

2 Learn It

3

Get Ahead of it

© 2019 Keller Williams Realty, Inc.

Say, "Whee!"

2 We don't connect what we do to helping people

What You Do

Helping People

© 2019 Keller Williams Realty, Inc.

3

We become attached to the job money, which doesn’t allow us to delegate jobs we don’t like or do well

© 2019 Keller Williams Realty, Inc.

4 We invest in lifestyle instead of people or lead generation

$ Š 2019 Keller Williams Realty, Inc.

5 We don't see real estate as a database-based business Gross Commission

Size of Database

Average Annual

Total Annual Touches

$50K -$100K

630

19

12,236

$100K - $200K

1,013

34

34,241

$200K - $2M

1,860

26

49,248

$2M+ (Top 100)

13,790

35

484,050

Š 2019 Keller Williams Realty, Inc.

6 We allow what we do to never be enough

1

Can't drop it and go home – no off switch

3

2 Fear is in the driver's seat

© 2019 Keller Williams Realty, Inc.

Do too much and push too hard

4

Lose our why

SHIFT HOW TOP REAL ESTATE AGENTS TACKLE TOUGH TIMES

© 2019 Keller Williams Realty, Inc.

"When we are no longer able to change a situation, we are challenged to change ourselves."

VIKTOR FRANKL

Š 2019 Keller Williams Realty, Inc.

THE MARKET SHIFTS

© 2019 Keller Williams Realty, Inc.

The Anatomy of a Shift Shifts occur whenever supply and demand move out of balance Buyer's Market = Seller supply exceeds buyer demand Sellers's Market = Buyer demand exceeds seller supply A shift occurs when the market moves from one to the other Š 2019 Keller Williams Realty, Inc.

Local market transitions don't last long Transitional SELLER

BUYER

SLOW

FASTER

FAST

© 2019 Keller Williams Realty, Inc.

The Law of Equilibrium The available income in a market determines the number of agents in that market

Š 2019 Keller Williams Realty, Inc.

As the number of transactions rises, so does the number of agents When the number of available transactions falls, so does the number of agents

The Law of Equilibrium People are attracted to the industry by the perceived income opportunity and driven out by the reality of the competition for it.

Š 2019 Keller Williams Realty, Inc.

YOU SHIFT

© 2019 Keller Williams Realty, Inc.

1 Set your mind

© 2019 Keller Williams Realty, Inc.

1 The Mental Shift To survive a shift, you must first make the mental shift to ...

GET REAL Š 2019 Keller Williams Realty, Inc.

2 The Action Shift Once you've gotten real, you've got to get right Taking the right action now is just as necessary as knowing what to do It's not about more knowing –

it's about doing. Š 2019 Keller Williams Realty, Inc.

Two Critical Actions The two actions you must take ownership of are ...

1

Lead generation

© 2019 Keller Williams Realty, Inc.

2

Lead conversion

Two Critical Actions In a shift nothing becomes more critical than finding motivated buyers and sellers and closing them to an appointment

Š 2019 Keller Williams Realty, Inc.

Actions, Habits, and People $100M $10M $5M $1M © 2019 Keller Williams Realty, Inc.

2

Re-Margin Your Business

Š 2019 Keller Williams Realty, Inc.

Lower Your Expenses You must lower your costs now. "Revenuing" your way out of a shift is iffy at best The profit you seek will always be made in the way you manage your money When the market shifts, you must create a budget that matches your revenue Š 2019 Keller Williams Realty, Inc.

"Name a business that has been ruined by downsizing. I can't name one. Name a company that has been ruined by bloat.

I can name dozens."

CHARLIE MUNGER Š 2019 Keller Williams Realty, Inc.

Invest in Your Business

1

Drop your expenses until your inflow exceeds your outflow at an acceptable level

2

Play Red Light, Green Light

3

Grow your budget incrementally in line with your acceptable profit margin

© 2019 Keller Williams Realty, Inc.

3

Get Back to the Basics

© 2019 Keller Williams Realty, Inc.

The Six Core Competencies

1

Lead generate, capture and convert to appointments

3

2

Present to buyers and sellers and get agreements

Show buyers and market sellers

5

4

Coordinate the sale to closing

Š 2019 Keller Williams Realty, Inc.

Write and negotiate contracts

6

Manage the money

4

Get Your Leverage Right

© 2019 Keller Williams Realty, Inc.

When the Market Shifts It's time to roll up your sleeves and for everyone around you to do the same

It's time to consider effectiveness and efficiency as tools of necessity

It's time to evaluate which resources and services must stay or go

It's time to see what bang you can get for the bucks you got

© 2019 Keller Williams Realty, Inc.

When the Market Shifts Your organization must shift too A market shift can be an opportunity to evaluate, upgrade, and top-grade your business, an unsolicited gift of the shift

1

It may be time to reassess and top grade your people

2 Š 2019 Keller Williams Realty, Inc.

Instead of just managing the flow, it may be time to retool and upgrade your systems

5 Find the Motivated

Š 2019 Keller Williams Realty, Inc.

Lead Generate!

This is when the true competitive nature of our business reveals itself It's time to stop trying to get your fair share of the market and do all you can to get your unfair share There is no longer enough to go around! Š 2019 Keller Williams Realty, Inc.

Time Block!

Think of it as making appointments with yourself Once done, you must protect that time against any and all distractions "Until my #1 priority is done – everything else is a distraction" Š 2019 Keller Williams Realty, Inc.

The ONE Thing – Time Blocking

1. Time block your time off

2. Time block your ONE Thing

3. Time block your planning time © 2019 Keller Williams Realty, Inc.

Lead Source Zone 1 - List Door Knocking (10) Calls to Sphere (7) Agent Referrals (2) "12 Direct" Newsletter (7) FSBOs (2) Open Houses (5) Expired Listings (14) Sign Calls (4) Website Registrations (4) Client Parties (4)

2 - Prioritize 1.

2.

3.

4.

Expired Listings (14) Door Knocking (10) Calls to Sphere (7) "12 Direct" Newsletter (7) 5. Open Houses (5) 6. Sign Calls (4) 7. Client Parties (4) 8. Website Registrations (4) 9. FSBOs (2) 10.Agent Referrals (2)

Š 2019 Keller Williams Realty, Inc.

3 - Focus 1.

2.

3.

4.

Expired Listings (14) Door Knocking (10) Calls to Sphere (7) "12 Direct" Newsletter (7) 5. Open Houses (5) 6. Sign Calls (4) 7. Client Parties (4) 8. Website Registrations (4) 9. FSBOs (2) 10.Agent Referrals (2)

The Rule of 5 40

80% got 90% of their business from 5 sources

38%

30

20%

20

14%

10%

10

0

#1

#2

#3

#4

8%

#5

5% #6

Š 2019 Keller Williams Realty, Inc.

4%

2%

2%

2%

#7

#8

#9

#10

Find the Motivated

Open House 3.0

Š 2019 Keller Williams Realty, Inc.

Givens: Stage every home

Professionally photograph every home

Pick location and price point based on who you want to attract

© 2019 Keller Williams Realty, Inc.

Hold strategy and preparation meetings beforehand

Prepare a week in advance. Post to MLS on Thursday.

Hold open house on Sunday

Leveraged Getting People There: Sign in yard, balloons, riders, and six to ten directional signs at all key corners

Invite 100 neighbors (door knock, circle prospect, direct mail)

Invite database (call identified conversion opportunities and email the rest)

Maintain consistent open house schedule

Target demographics on social media and print advertising

Scale with leverage: Hold four open houses in same area at various price points

Š 2019 Keller Williams Realty, Inc.

Send reminders to everyone you've invited

Leveraged During the open house: Capture information at the door

Qualify attendees

Provide market information

Keep metrics on open house traffic to adjust accordingly

Send them on a "tour"

Š 2019 Keller Williams Realty, Inc.

Provide "before and after" fliers

Leveraged At the end of every open house: Add contacts to 'open house' database

Follow up the same day with attendees

Make notes on successes and failures

Š 2019 Keller Williams Realty, Inc.

Prepare to do it again next week