Ignite. skills to spark a great career. Power Session 18: Accountability Check in on Your Numbers and What s Next. Mona Covey and Brenda Marshall

Transcription

1 Ignite skills to spark a great career Power Session 18: Accountability Check in on Your Numbers and What s Next Mona Covey and Brenda Marshall

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3 Table of Contents Power Session 18: Accountability Check in on Your Numbers and What s Next Get Your Head in the Game Today s Plan of Action Gear Up Affirmation of the Day Weekly Checkpoint Recap What You Have Done Report on Your Results Evaluate Wins and Opportunities Time Block for Unfinished Business Know Your Numbers Revisit Your Goal Calculate Your Conversion Rates Other Conversion Rates Aim High Get Focused! It s Simpler Than You Think Reward Yourself Choose a New Accountability and Script Partner Get to Work What s Next Life After Ignite Your Daily 10/4 Assignment Aha s

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5 Power Session 18: Accountability Check in on Your Numbers and What s Next You are here! Ignite Power Session Training Calendar Monday Tuesday Wednesday Thursday Friday 1. Rev Up 2. Your Database 3. Open Houses 4. Prospecting 5. Accountability Check in on Your Goals and Big Why 6. Prepare to Work with Buyers 7. The Buyer Consultation 8. Find and Show Homes 9. Make and Receive Offers 10. Accountability Check in on Time Blocking Market Center Topics Market Center Topics 11. Negotiate Win-Win Agreements 12. Find Seller Leads 13. Accountability Check in on the Your Prelisting Packet and Listing Consultation 15. Price Right and Present Your CMA 16. Market and Service Your Listings 17. Contract-to- Close and Postclose Systems 18. Accountability Check in on Your Numbers and What s Next Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc. 18-1

6 Get Your Head in the Game I don t know my limits so I don t set them. If I can do 6 million, I can do 100 million! Gary Keller Cofounder and COB, Keller Williams Realty, Inc. Congratulations, you ve arrived at the final Power Session! Throughout Ignite, you ve been performing the Daily 10/4 activities and tracking your numbers in mytracker. You ve time blocked your daily activities and, since last week, are using the to guide you through the weeks, months, and year toward your annual goals. Gary Keller, cofounder and chairman of the board of Keller Williams Realty, understands the power of knowing your numbers. In The Millionaire Real Estate Agent, he points out that knowing your numbers builds confidence and stability in your business. He continues, Each time you assess your actual numbers, you ll get a pretty clear picture of how you are doing in regard to your annual goal numbers. Gary tells the story of a mega agent he coached by phone. At the beginning of the call, Gary asked the agent how he was doing toward his goals for the week and month as written on his The agent replied that he had several bad weeks. In fact, he hadn t been making his lead generation calls. Gary told the agent, Get to work and don t call me until you re done and hung up the phone! How s that for accountability? With a cumulative four weeks of tracking your activity and results, you have an accurate trail of your critical business numbers and can calculate important conversion rates. In this session, you ll learn the value of paying attention to your numbers Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

7 Today s Plan of Action This Power Session gets you on track in five steps: 1. Check in on what you ve accomplished this week. 2. Evaluate wins and opportunities of the week and make adjustments. 3. Time block for any unfinished business. 4. Develop a habit of tracking your numbers and taking action to continually improve your conversion rates. 5. Commit to a plan for maintaining the powerful habits you ve developed in Ignite to reach and exceed your business goals. Gear Up For today, you will need the following items: Your previous Ignite Power Session workbooks Your from Power Session 13: Accountability Check in on the Your vision board from Power Session 5: Accountability Check in on Your Goals and Big Why Your Daily 10/4 tracking and results Affirmation of the Day I believe in myself and in my business, and I enjoy the progress I m making every day! Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc. 18-3

8 1. Weekly Checkpoint Recap What You Have Done This week you learned many new concepts and skills related to working with buyers and sellers, and you continued with your Daily 10/4. Most importantly, with this session, you will complete Ignite and propel yourself forward to self-sufficiency! You have: ;; 1. Discovered the value and process of a prelisting packet in securing a listing. ;; 2. Learned and practiced a listing consultation that moves the seller to list with you. ;; 3. Studied pricing strategies and learned to generate and deliver a precise Comparative Market Analysis. ;; 4. Learned to maximize your marketing and servicing of listings to ensure great customer service. ;; 5. Studied the entire contract-to-close process and the importance of overseeing all aspects so that all parties are satisfied at the end. By the end of today, these numbers should be 50. { And, of course, you completed your Daily 10/4 for Monday through Thursday. ;; 6. Added 40 full contact records to your database. ;; 7. Connected with 40 people. ;; 8. Wrote 40 notes to the people you contacted. ;; 9. Previewed 10 homes. ;; 10. Entered the above results into the online mytracker Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

9 Report on Your Results What did you achieve this week? Who is in the lead for the week? So far, who has the highest cumulative numbers for each of the Daily 10/4 activities? Enter Your Daily 10/4 STOP and DO Daily 10/4 Leaderboard Four Habits Daily Goal Results/Ratings Leader Name Build and Manage Your Database Prospect Add 10 people to your database. Connect with 10 people. Follow Up Write 10 notes. Know Your Market Preview 10 homes/week. Rating: ( ) Met the goals of 10 ( ) Exceeded the goals of 10 ( ) Didn t quite meet the goals of 10 Time: 1 minute Did you achieve any milestones? How many? Who achieved the most? Enter Your Milestones STOP and DO Milestones Results Leader Name Appointments Agreements Signed Contracts Written Contracts Closed Time: 1 minute Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc. 18-5

10 2. Evaluate Wins and Opportunities STOP and DO Self-Reflect on Your Actions This Week Write your answers to the following questions and then share with the class. Time: 5 minutes What wins did you experience this week? What opportunities for improvement did you encounter? What kind of leads are you getting? Seller? Buyer? What about the quality of leads you ve been getting? How quickly are you able to convert them to an appointment? As CEO of you, rate your performance for the first week using a scale of 1 5. (1 = improvement needed, 5 = excellent no improvement needed) What will you do differently next week? Share and celebrate success! Share with the class how you ve been rewarding yourself these past several weeks while succeeding in Ignite Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

11 3. Time Block for Unfinished Business Didn t get it all done this week? Lead generation is your first priority: Time block for it, then schedule the other tasks you did not complete. Time Block for Any Unfinished Business STOP and DO 1. List any tasks you did not complete for this week or must complete by week s end. 2. Put them in your calendar now. Time: 2 minutes It is important that I complete the following: By when: Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc. 18-7

12 4. Know Your Numbers Revisit Your Goal STOP and DO In Power Session 1: Rev Up, you set a goal for your annual number of closed contracts based on the annual income you desire. And in Power Session 13: Accountability Check in on the 4-1-1, you learned how your annual goals can be broken down to monthly, weekly, and even daily goals to keep you on track. At this time, you may be ready to increase your goal. Revisit Your Goals Refer back to Power Session 5: Accountability Check in on Your Goals and Big Why for your GCI goal and the number of appointments needed each week to reach it. All in the chart below and answer the questions below. My Annual GCI Goal Is: To Meet My Goal Required Appointments Actual Appointments Appointments Each Week Time: 2 minutes You must know how many appointments you ll need to net a certain number of buyer and listing agreements. The Millionaire Real Estate Agent Why is it important to meet or exceed the number of appointments? Are you on track to meet your goal? Rate your performance so far in Ignite using a scale of 1 5. (1=improvement needed, 5=excellent no improvement needed) What will you do differently or more of next week to ensure you are meeting your goal? 18-8 Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

13 Calculate Your Conversion Rates By now, you understand that the Countdown to Payday is moving leads to appointments, then agreements, then contracts, then closings, which yield commissions. And the focus on leads is becoming more and more of a habit because of your Daily 10/4. Now it becomes important to also track your conversion rate. Knowing your conversion rate and improving your conversion rate over time will increase the speed at which you progress through the Countdown to Payday. While there are several conversion points you can track, in this session you will put your attention on the first one leads to appointments. Countdown to payday You must know how many leads you must generate to meet your other goals (appointments, agreements signed, contracts signed, etc.). The Millionaire Real Estate Agent Leads Appointments Conversion Points Agreements Contracts Closings $ Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc. 18-9

14 STOP and DO Calculate Your Lead-to-Appointment Conversion Rate 1. From mytracker or other record-keeping on the Daily 10/4, enter the total connections (C) you made each week in Ignite into the table below called Your Numbers. 2. Enter the number of appointments (A) you set each week. 3. Calculate your conversion rate by dividing the total appointments by the total connections each week (A/C). This ratio of connections to appointments indicates how many connections you need to make, on average, to get an appointment. 4. Answer the questions below the table. Example Connections (C) Appointments (A) Conversion Rate (A/C) Percentage Week /44 Week /29 Week /36 2.7% Week /25 4% Your Numbers: Connections (C) Appointments (A) Conversion Rate (A/C) Percentage Week 1 Week 2 Week 3 Week 4 Time: 10 minutes Was there improvement from any week to the next? What actions will you take after knowing your conversion rate? Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

15 What s a good conversion rate? At this point you may be asking yourself, What is a good conversion rate? The answer is complicated and varied. The truth is while your conversion rates are very important, the number of leads you must generate is even more critical. High conversion rates allow you to generate the same income from fewer leads than if you had lower conversion rates. But, lower conversion rates can be just as effective if you can amass a great number of leads. Lead conversion depends on your skill and time spent lead generating, practicing scripts, and responding quickly to leads. For Chris Heller, it varies. He says, It improves as we do, it is a skills/scripts/ responsiveness issue. He has tracked his numbers throughout his career, and today he achieves the following conversion rates: Internet leads, 3 7 percent Sign calls, percent Expired listings and FSBOs, 70 percent Improve Your Leads-to-Appointments Conversion Rate STOP and DO Commit to improving your lead-to-appointment conversion rate. Set a goal for a new rate and the date by which you will achieve it. My current conversion rate (average) My goal conversion rate Date to achieve goal conversion rate Time: 1 minute Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc

16 Other Conversion Rates Once you ve gained an understanding of your lead-to-appointment conversion rate, you may want to improve on other conversion points. What other conversion rates do you intend to track? STOP and DO Choose Additional Conversion Rates Select one additional conversion point that you will track for the next thirty days. Time: 1 minute Leads Appointments Appointments to Signed Agreements Agreements Signed Agreements to Contracts Contracts Contracts to Closings Closings $ Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

17 Aim High Get Focused! It s Simpler Than You Think In previous accountability sessions, you learned about focus and accountability. You were introduced to the first four of Gary Keller s five simple steps to getting focused: 1. Create a personal plan and make process your focus. 2. Time block to get your focus. 3. Get accountability to keep your focus. 4. Make sure your environment supports your focus. The final step that will lead you to focus is: 5. Keep your energy to maintain your focus. Maintaining a long-term focus depends on you staying energized and enthusiastic. Everything you do either adds energy or depletes it from your life. Two powerful habits that will increase energy and help you maintain your focus are as follows: 1. Be learning based Continuously seek ways to gain new knowledge and skills. Find opportunities to learn by (1) studying, for wisdom and foresight, and (2) doing, for skill and competency. You can t reach Big Goals without a big, sustained effort. And a big, sustained effort requires big, sustained energy. The Millionaire Real Estate Agent 2. Implement the Millionaire Real Estate Agent Energy Plan Block time before 11:00 a.m. each day to pull in energy from these five key areas; this creates momentum that will carry you through your entire day. To gain this type of energy Do these activities 1. Spiritual Meditate and pray 2. Physical Exercise and eat 3. Emotional Hug, kiss, and laugh 4. Mental Plan and calendar 5. Business Lead generate Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc

18 Reward Yourself STOP and DO How will you reward yourself this week? Remember that it can be a small reward for completing your Daily 10/4 or a big reward for achieving a big milestone. Choose something meaningful that will motivate you! Choose Your Reward Jot down a reward for reaching a certain milestone. Time: 1 minute When I complete... I will reward myself with... BOLD Plus it with Remember your options to keep you on the path of success. Besides your Productivity Coach, KW MAPS Coaching provides several programs to keep you accountable to your goals. One followup program you ll want to schedule as soon as it shows up in your area is BOLD Experience. It s an intensive eight-week program that will truly take your business to new heights Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

19 Choose a New Accountability and Script Partner Without the accountability of fellow agents in your Ignite class, your instructor(s), and the sheer focus of attention on learning and doing, you will need the support of an accountability and script partner even more. Choose carefully you want someone who knows your dreams and goals and wants you to succeed. Select Accountability and Script Partners STOP and DO 1. Write the name of the person with whom you will meet weekly and to whom you give permission to hold you accountable to your goals. 2. Write the name of a partner who will practice scripts with you on an ongoing basis. My Accountability Partner My Script Partner We will meet on what day and at what time? We will meet on what day and at what time? Time: 10 minutes Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc

20 Get to Work What s Next Life After Ignite STOP and DO You are at the end of Ignite and it s time to reflect on all that you ve learned, as well as commit to actions you ll take afterward. Commit to Your Dreams and Goals 1. Get out your vision board and reflect on your dreams and goals. 2. Indicate below the items to which you will remain committed after Ignite. 3. Share with a partner. Commitments I commit to continuing the Daily 10/4. I commit to practicing my scripts daily. I commit to saying affirmations every day. I commit to holding open houses every week. I commit to putting all the people in my database into touch campaigns and following up with a phone call every quarter. I commit to going on appointments every week. I commit to prequalifying buyers and getting a signed buyer representation agreement before showing homes. I commit to prequalifying sellers with a prelisting packet. I commit to pricing the listing to ensure a sale for my customers. I commit to managing all transactions to a successful close for both parties. I commit to customer service and a win-win for all parties involved. I commit to my and having myself held accountable to it. I commit to coaching or some form of regular accountability. Time: 3 minutes Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

21 Commit to Growth Through Continual Learning and Improvement STOP and DO 1. Indicate below which actions you will be committed to after Ignite. Add additional actions you plan to take. 2. Timeblock for the actions you selected. 3. Share with a partner. 4. Make a copy and share this with your Team Leader, Productivity Coach, or other coach. Commitments By When I will read/reread The Millionaire Real Estate Agent. I will read/reread The Millionaire Real Estate Investor. I will read/reread SHIFT: How Top Real Estate Agents Tackle Tough Times. I will attend Family Reunion. I will attend Mega Camp. I will attend Ignite again. I will attend BOLD when it comes to my area. I will take MAPS Fast Track coaching program:. I will take the technology training offered in my Market Center. Time: 3 minutes Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc

22 Your Daily 10/4 Assignment Time block as usual for this activity. Four Habits Daily Goal Done Build and Manage Your Database Prospect Follow Up Know Your Market Add 10 people to your database. Connect with 10 people. Write 10 notes. Preview 10 homes this week. Congratulations by Dianna Kokoszka Watch and listen as Dianna Kokoszka, president of KW MAPS Coaching offers congratulations upon completing Ignite. Time: 3 minutes Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc.

23 Aha s My Aha s STOP and DO 1. Write down your three most powerful aha s from this Power Session Share one aha with the class. Time: 5 minutes Keep the spark alive! Ignite Power Session 18: Accountability Your Numbers and What s Next v Keller Williams Realty, Inc

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25 Ignite Correction and Suggestion Log Instructor Name: Date: Market Center: Power Session #: Content Type (instructor manual, student manual, job aid) Page Number Type of Correction (misspelling, wrong reference to resource, etc.) Description of Correction or Suggestion Suggestions for this Power Session: Please send this completed form to KWU attn: KWU Ignite fax: mail: 1221 South Mopac Expressway, Suite 400 Austin, TX 78746

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