Wednesday, December 6, 2017

HOW TO TAKE TERRITORY IN A TIGHT INVENTORY MARKET


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Dec 4, 2017 9:00:00 AM

Situated along the Pacific coast, San Diego, Calif., is one of the nation’s hottest housing markets – so hot that supply is having a hard time keeping up with demand. Home to beautiful beaches and high-end homes, the city is also home to Keller Williams Mega Agent Daniel Beer, owner and CEO of the Beer Home Team in the San Diego North Inland market center. Despite the shortage of inventory, Beer and his team are still taking territory. A lot of territory!

Beer and his team closed out 2016 with a total of $151 million in volume and 188 units. And they are on track to surpass that in 2017.

“There are many different components that come together to close the kind of volume our team does,” says Beer, noting that it’s not just one thing that works – it’s about being clear on what you want to accomplish, defying the status quo and telling a story that can capture a large audience.
Going Above and Beyond
Beer has always known he would never settle for average. Considering that it would take the average agent more than 56 years to sell what Beer sold in 2015 alone, it is clear that he is achieving his goal.
“Clients are easily frustrated by the status quo approach to real estate and deserve more,” says Beer. 

To better serve his clients, Beer identified where gaps in the industry were and closed them with exceptional customer service, which has garnered the attention of numerous publications including The Wall Street Journal and REAL Trends. Laura Branca, chief operating officer of the Beer Home Team, shares how they go above and beyond to provide exceptional customer service:
  • We promise: During our initial appointment with our clients, we promise that we will deliver the ultimate experience centered on communication and transparency from the minute we begin working together to after the closing. We reiterate our promise at the beginning of every transaction and encourage our clients to let us know at any time if we are not providing them with superior customer service. This was a concept Beer borrowed from Michael Hicks. 
  • We over-deliver: Through the use of a very detailed process, clearly identified communication expectations and a CRM with targeted automation, we try to overdeliver on our promise.
  • We listen and close the loop: After every closing, I send a one-question survey requesting a score of 1-10. Our team is diligent about follow-up to obtain the score. We circle back with the client to let them know their input is valued and how it has been used to implement new efficiencies, processes and standards.
Telling Your Story
“To take territory, you need to get your name out there – everywhere!” Beer says. Understanding the importance of capturing the widest audience possible, Beer uses several different methods to achieve this.

For starters, he doesn’t go light on open house signage. When the Beer Home Team has an open house, residents can expect to see upward of 60 signs in the area. With their eye-catching design and vibrant colors, it’s impossible to miss these strategically placed signs. Beer says he also relies heavily on direct marketing mailers and targeted radio advertisements to reach potential clients.

Embracing the vast reach available on social media, Beer recently crafted a Facebook Live show called “Real Estate Exposed”. This show is a way for him to connect with current and prospective clients through education.

“We wanted to do this show because we want to help buyers and sellers become more informed and feel more comfortable during their real estate transactions,” says Beer.
Succeeding in the Current Market
In the first half of 2017, the industry has seen inventory levels near record lows, particularly for entrylevel housing. OutFront asked Beer what advice he would give other agents looking to thrive in the current market when inventory is low. “The tips I would give are the same in any market,” he says. “You just have to do more of it right now because there are fewer listings available.”

“SHIFT (a book written by Gary Keller, co-founder of Keller Williams) talks about strategy in a shifting market that is turning into a recession – we have a recession of listings right now with very tight inventory, so you need to double down on the activities to get the same results.” He also suggests getting more creative with your approach to crafting your story and making sure you differentiate yourself enough to stand out. “When you have your own unique way to tell your story and compare it to the industry, the story catches eyes.”

Looking for more ways to stand out? Flip to page three of OutFront Magazine for a step-by-step guide on creating your unique selling proposition! 
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This story originally appeared in OutFront Magazine Issue 14.2. It was written by Allison Teegardin. 

KELLER WILLIAMS SURPASSES $1 BILLION IN PROFIT SHARE TO ASSOCIATES

Nov 21, 2017 10:09:47 AM

Profit share is one way in which Keller Williams Realty exemplifies the principle of success through others. Each month, market centers share roughly half of their profits with the agents who helped grow the market center and make it profitable. But in order for there to be profit share, there must first be success.

Since the inception of the profit share program, KW has distributed more than $1 billion to associates who have helped the company grow!

And, thanks to the company’s recent growth and agent production gains, it has distributed more profit share in the past four years than in the preceding 21 years combined.

“As a company, we’re motivated by helping people fund their lives and create opportunities,” CEO John Davis says. “Giving back is part of our culture. Profit share allows our people to earn passive income for life so they can pay for their kids’ education, take care of their parents, and invest for the future.”

The historic achievement comes as Keller Williams is closing in on its most successful profit share year yet. Through the first 10 months of the year, KW has shared $151.9 million with associates in the United States and Canada, an increase of 14.1 percent compared with the same period in 2016. (Keller Williams associates outside of the United States and Canada participate in a similar program called “growth share.”)

Individual Keller Williams market center owners share roughly 50 percent of their office's monthly profits with associates who have helped the business grow. As of Oct. 31, 98 percent of Keller Williams market centers were profitable for the year. Moreover, a record four market centers had already distributed $1 million or more this year. There are also individual agents who have received seven-figure distributions.

In the six years since Keller Williams launched its companywide Growth Initiative, profit share payouts have grown substantially:
  • $154.4 million in 2016
  • $129.8 million in 2015
  • $98.1 million in 2014
  • $78.2 million in 2013
  • $55.3 million in 2012
  • $38.3 million in 2011
Keller Williams Co-Founder and Chairman Gary Keller and early company leaders created the profit share program to ensure the goals of KW owners and agents remain permanently aligned. Innumerable lives have been changed as a result.
“Profit share saved my life.”
Dawn Braithwaite, a top-producing agent out of Ridgewood, N.J., credits the profit share program for saving her life. After a bad fall, Braithwaite sustained severe injuries to her wrist and within 24 hours learned she needed surgery. Her heart sank as her insurance company told her the surgery would not be covered.

“I just got divorced and was trying to pay all my bills,” Braithwaite says. “There was no way I could afford it. I didn’t know what to do.” After meeting with her doctor early in the week, she learned her only options would be to negotiate the price of the surgery down or have it performed by medical students at another clinic on the other side of town. But even at a discounted rate, the surgery was out of her price range.

She canceled her surgery and resigned herself to being stuck until she received an unexpected message in her inbox.

“On Thursday, I opened my email and saw that my profit share check had been deposited,” she says. 

“I couldn’t believe it!” Stunned and relieved, Braithwaite contacted her doctor right away and was in surgery the following day. It ended up being the surgery that saved her life.

“What should have taken an hour ended up taking two and a half,” Braithwaite explains. “It was a complicated operation because the doctors found that I had severed an artery and nerves. I could have bled to death. If profit share hadn’t come in, I don’t know what I would have done.”
“With profit share, our opportunities to give are so much greater.”
Linda McKissack.pngLinda McKissack, Keller Williams’ number one profit share earner, calls the program “the greatest gift we’ve been given.” Since becoming purposeful about profit share in 2007, McKissack has built a significant business and teaches agents how they can fund their lives long after their last deal is finished.

While McKissack has enjoyed the money, “the real gift is significance,” she comments. “It changes people’s lives.”

She has seen the impact firsthand with her family.

“My son-in-law was sick for 10 and a half months with terminal cancer,” McKissack shares. “My husband and I only worked three weeks during that time because money was coming in passively. 

Helping him fulfill his life wishes and being with my daughter, granddaughter and family – it was priceless. If you have profit share covering your expenses, you have freedom. You never know what’s on your horizon.”
“It allows me to be free. I will pass it along to my children.”
Since profit share is willable, agents are able to leave a lasting legacy for years to come. When Charles Bowles – a Keller Williams agent from Tulsa, Okla., and a significant profit share earner – died, Steve Whitaker was astonished to learn he had been included in his will.

“We were good friends and I helped take care of him during the last few years of his life,” Whitaker explains. “When he passed, he left everything to me, including profit share. I was able to take the proceeds and build my own house with it.”

Today, Whitaker is thriving in Oklahoma and owns a waste-removal company called Git-Er-Gone along with numerous properties. He partners with many Keller Williams agents in the area to remove unwanted items from homes. The monthly income from profit share “allows me to be free,” he says. “I don’t have to work as hard as I would.”

Just as Bowles paid his profit share forward, Whitaker plans on willing his profit share to his children so they can benefit from him. “I will put it in a trust so they can continue to take care of the properties we own.”


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