EBL Weekly Real Estate Mastermind Call 1/6/19 (Playback)




To Listen to the Pre-Recorded Call  CLICK HERE









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
Register At: CLICK HERE


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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?
    1. 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.


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