Announcements
IGNITE Training: Part 2 tomorrow (NE Market
Center 9am-12pm)
Available
on EBL website under Fast Start To Success Training
Live Real Estate Exam Prep 6:30pm-8:30pm
Super Saturday (webinar): 9am-12pm 1/12/19
Add yourself to the following Facebook Groups
Other Links:
ENTREPRENEUR TRAINING
Your Magic Number Through Listings
We will be talking about understanding
the framework of your real estate business WHICH IS HOW TO MAKE MONEY...Buyers vs. Sellers
Gary
Keller talks about the 3L’s Leads, Listings, Leverage. We also talk about that
on our 10 CORE Commitments
Working
with buyers is physical labor. Think about how draining it would be to
work with 7 buyers all at one time that are all pulling you to show homes.
Tough
right?
Now
think about having 7 listings whereas buyer agents are showing your listings
while you are doing other things to grow your business, like getting more
listings
So,
working with listings is mental labor. The more listings you have, the more
predictable and duplicatable your income is. So, you have to be focused on
getting more listings.
Today
we’re going to drill down on your MAGIC NUMBER… that’s the number of active
listings you must have at all times in order to meet or exceed the income
required by your goals.
So many
agents fall back on working only with buyers because it’s fast. But, once the
buyer is gone, the opportunity is gone.
The
MATH:
Let’s
talk about your MAGIC NUMBER… that’s the number of active listings you
must have at all times in order to meet or exceed the income required by your
goals.
1.
Let’s say you need $5000/month to pay your bills but $15,000 per
month to live the life of your dreams.
2.
Let’s say your average net commission is $5000. It takes 1
closing / month to keep the lights on and 3 / month to have a rockin’
lifestyle. (Adjust accordingly).
3.
How do you achieve this income regularly, not
sporadically? THROUGH LISTINGS.
4.
How many listings does it take to hit those 3 deals per month?
- Depends
on the Days on Market
- 3
at all times if your inventory sells very quickly
- 5
at all times if your inventory takes 90 days +/-to sell
- up
to 10 at all times if you have longer days on the market and more
inventory.
5.
Why aren’t we talking about BUYERS???
· Because buyers never,
EVER ‘have to’ buy.
· Qualified, motivated
sellers DO ‘have to’ sell.
6.
Where do qualified, motivated, have-to-sell sellers come
from? Focusing on Your Niche Market
· Centers of Influence / Past Clients /
Referrals
· FSBOs (unrepresented sellers)
· EXPireds
· Divorce Leads
· Probate
· Door Knocking around your current listings
Be very intentional about your
business. Run it like a hobby, it will pay you like a hobby. Run it like a
business and it will pay you like a business!
Brand your business with your own 800
number through Hotline America.
This is your IVR that you can set for your business
and each listing you have. You can have 25 different extensions. You will look
like a Rockstar to your clients
· Buyers
· Sellers
· Agents
· Once for each property you have listed
And when people call the number you get
an automatic text and they will get an automatic text for up to 48 hours to
keep reminding them they called
Let’s talk about PROFIT SHARE
Everyone should be participating in
Profit Share. Remember, this is your Exit Strategy from real estate. This is
your opportunity to build a retirement for yourself. 48% of the profits of
Keller Williams in each market center goes back to the agents that participate
in profit Share. This FREE money is set aside for agents that helped to build
the market center. Our center had our best year at $150K shared back with the
agents
· Ballantyne #350 in Charlotte, NC $1,473,754
· Fort Mill #687 in Fort Mill, SC $783,021
· Southpark # 290 in Charlotte, SC $685,110
Whatever the Cap # is, if you earn
that in Profit Share, then KW paid you to be at the franchise. You can’t get
that anywhere else.
