Mega Open House System

Transcription

1 Mega Open House System Bonus: Teams & Megas

2 Who is this bonus session for? Team Leaders Agents who want to become team leaders This session is from the team leader s perspective

3 Why a team based on Mega Opens? Reduce overall costs lower marketing budget Higher quality leads Phase 2 of the buying cycle Higher agent satisfaction Control of destiny and self-sufficient Stronger loyalty More training and more fun Buyer AND seller leads

4 Who s done well with Mega Open Houses and Teams?

5 listing 16 sellers per month Joshua Smith Veteran team leader Runs team of 19 agents holding multiple mega open houses every weekend Cut $30,000 off his marketing budget adopting concept 2,000 guests per month 30-40% of guest are sellers Listing 16 sellers per month In 2013, closed 320 homes worth $51 million

6 took home $1 million in net profit Chris Suarez Veteran team leader Built his business based on daily open houses. 2 buyer agents and 2 showing assistants Buyer agents MUST hold 50 open houses per year any day of week In 2013, he closed 220 homes worth $73 million, earned $1.8 million in GCI, and took home $1 million in net profit.

7 team agents generate their own leads Brent Gove Veteran team leader Built team of 47 agents all doing mega open houses In 2005, he closed 429 homes worth $168 million and earned $3.9 million GCI Team agents generate their own leads Brent does not hand leads out.

8 Why base your team on Megas? No more lead dependence Reduce costs Keep great agents longer Recruiting is easier Higher agent production Training is easier Hiring is simpler Financial clarity Leverage your admin staff Success stories are already happening

9 No more lead dependence Train agents how to lead generate Give an agent a lead, you feed him for a day teach an agent to lead gen, you feed him for a lifetime!!! Reduce stress of team leader who s constantly under pressure to bring in (purchase) new leads

10 No more lead dependence Eliminate cherry picking and lead decay Most agents go broke lead generating for their agents and then watch the agents sit on the leads or worst, never follow up at all. Why? They have no skin in the game. (Brent Gove) When they generate their own leads, they will follow up. Why? It was their effort to get the lead.

11 No more lead dependence Provide coaching & training instead of leads Old trade: I ll give you leads, you work them New trade: I ll teach you how to be a highly successful agent generating your own lead, you work here for X years Be a trainer. NOT a lead provider.

12 Reduce costs No outside lead generation, less cost Joshua Smith reduced budget by $30,000 He cut his direct mail, radio, TV ads He s getting MORE leads and better clients

13 Keep great agents longer Loyalty pledge I ll teach you HOW, you stick around Brent Gove: I ll teach you for a year-and-a-half, then you stick around for a year-and-a-half. Meet me half way. Let me get my investment back. It s not worth it for me to have you leave after a yearand-a-half. I need a 3 year commitment. Can you commit? Sign contract (may not be enforceable in your state) In 10 years, only 2 of 80 agents have broken the commitment. Most agents stayed 4-5 years. A few have stayed 10 years.

14 Keep great agents longer Compensation plan promotes longevity (Gove) 50% - 1 st year 60% - 2 nd year 70% - 3 rd year 80% - 4 th year and beyond Can work if TL is not paying for outside lead generation Transaction costs are split at the same level as commissions are split $1,000 new furnace repair for 60/40 agent, then agent pays $600 and TL pays $400 (error agent has to pay for) $300 transaction coordinator fee for 60/40 agent, then agent pays $180 and TL pays $120 (cost of sale)

15 Keep great agents longer Make working on your team FUN (Gove) Monthly, quarterly, annual contest & rewards BIG prizes for BIG success (hitting goals) Meet minimum annual production goal (36 closed): Go to Maui with team OR Go on Caribbean Cruise with team

16 Recruiting is easier Success attracts success Word gets out See everyone earning money and having fun Top people want to join Always work on team building Create a success culture Winners like to be with other winners

17 Recruiting is easier Why should agents join? Brent Gove: I ll teach you HOW to be a highly successful, self-sufficient real estate agent. I ll teach how to make 50k, 100k, even 200k per year. I know how because I ve already done it.

18 Higher agent production Team agents specialize and become great lead generators more volume & higher quality Minimum activity requirement 50 opens per year any day (Chris Suarez) 3 opens per month weekends (Joshua Smith) No minimum - produce or perish (Brent Gove)

19 Higher agent production Average production stats (Joshua Smith) 100 leads (guests) per month (from 3 Megas) 5% conversion of leads to clients 75% close ratio of clients to closings Result = 4 closings per month There for goal is: 4 closings per month 50 closings per year Per EACH team agent

20 Training is easier Do it yourself first close 30 homes per year minimum first Then hire others and train Now you have knowledge and legitimacy You can answer all training questions

21 Training is easier Meet weekly for 1 hour to train BA (Brent Gove) Tuesday 10 am to 11 am Scripts and role play Contract negotiation strategies Available for questions by phone or maybe 15 minutes per day (2 or 3 five-minute call) NO managing Give keys to kingdom. Then let them do it. Teach them HOW and get out of the way. I m not responsible for their success, they are. The right person knows how to do this.

22 Hiring is simpler Look for a TYPE of person, not skill level Skills can be taught Hire a high I personality type (DISC) Out-going, love people, talkative, friendly, love crowds and parties (great host for a mega open house) Secondary trait D so they can close the deal (ask for contact info, set appointments, get decisions, ) Do NOT hire a high D personality type Director, head-strong, opinionate, decisive Do NOT hire a high C or S (indirect, anti-social) High D wants to take over OR leave & start their own business. High I wants to be part of a team.

23 Hiring is simpler 3 key hiring questions (Brent Gove) Do I like them? Do I trust them? Do they have what it takes? (outgoing, people skills, likeable)

24 Financial clarity Know who pays for what Make a policy Joshua Smith invests in signs and pays for flyers deliver. Chris Suarez provides 10 open signs per agent. Brent Gove s lead gen budget = zero. Team agents buy their own signs and do opens on Saturday and Sunday for 6-7 hours per day 10am-5/6pm (and take off Monday or Friday).

25 What can be delegated to your administrative staff? All paperwork and preparation I recommend you (or a team agent), retain direct prospecting and hosting. Let s look at the Daily Promotion Schedule We ll indicate what can be delegated to admin staff with a RED BOX OUTLINE

26 Daily Promotion Schedule

27 Daily Promotion Schedule

28 Daily Promotion Schedule Hire a teenager to put up signs

29 Success stories are already happening Brent Gove s agent Andrea Parker mom with 2 young kids (ages 2 & 4) sold 59 homes her first year in real estate doing mega open houses every Saturday and Sunday and earned 188k net on 50/50 split. Joshua Smith s agent Nate Brill did 5 mega open houses his first 90 days full time and already has 7 clients and over $2 million in sales volume on the books.

30 Who hosts the mega open? Team leader solo TL keeps all leads Team leader with a buyer agent TL gets seller leads, BA gets buyer leads Buyer agent solo (most common for team) BA gets buyer leads and refers seller leads to TL free or small referral fee 20% If Team Agent (work with both buyers and seller), BA gets all leads Buyer agent group (2 or more agents together) Round Robin (rotate every other guest) Both work door (or one door and one kitchen rotate every 30 minutes) Paid professional hostess (Terry Hunter) Hire good looking, friendly, out-going person to host & collect leads Pay an hourly rate to hostess and keep all commissions Leverage into 2,3,4 mega opens simultaneously (monitor)

31 How do you train your team agents? Easy Train them with the Mega Open House System videos & recordings Have them review each session, then you quiz Note: as a MOHS member, this training is available for you and your direct team (not company contact me for company pricing)