Team Talk with Raejean (RJ) Myers

What I've Learned at KW Family Reunion so Far...

Wow - so much information; so little sleep! Good thing I know shorthand! 

On the first day, I attended Gary Keller's Vision Speech.  It wasn't all that I wanted to hear, but I know Gary - he's a researcher.  I trust what he tells me, and I trust his predictions. 

Here's some of what he said.  I believe you can download it all... KW agents should have gotten an email from KWRI with a link. 

Gary first asked us if we see our future and present as half empty or half full.  We started talking about the current recession and what everyone is calling an "economic crisis".  Gary pointed out that in Japan, the symbol for crisis is a combination of two other symbols... one for danger plus one for opportunity!  Isn't that interesting!  He said to look at the word crises as an acronym:

C = circumstances

R = requiring

I = immediate

S = shift

I - in

S = strategy

I love that!  A lot of things worked when things were going well.  But now, each of us us needs to create our own STIMULUS package.  Gary warned that the next 180 days will be the toughest economic days we've seen. 

Our economy is an equal opportunity; unequal reward economy!  This is why we must be opportunity warriors!  Our conversion must be better than ever. 

Sales declined 13% in 2008.  The number of first time home buyers increased to 41% of home purchasers!  So all the first time home buyers that got pushed out of the market in the boom are now able to get back in! 

In the 4th quarter of 2008, only 6 states saw an increase in sales:  Arizona, Nevada, California, Minnesota, Virginia and Florida.  Everyone else decreased.  (Yay Arizona!)

Mortgage rates of 2008 were about 6% and ended at 5.1% - an all time low since Freddie Mac started its mortgage survey in 1971!

Speaking of 1971, mortgage rates were 7.48%, gas was 40 cents per gallon, monthly rent was $150, postage was 8 cents, and the average sales price of a home was $25,250.  Today mortgage rates are around 5.25%!!! Wow!

1 in 54 housing units filed for foreclosure in 2008.  420,000 hybrid ARMS are to reset in 2009.  45% of homes on the market in the 4th quarter of 2008 are distressed sales.  In Arizona, 1 in 22 are in foreclosure! 

Realogy - who owns Coldwell Banker, C-21, ERA, Better Homes and Gardens and Sothebys had a $50 million dollar loss in the 3rd quarter of 2008.  Keller Williams is DEBT FREE and is outpacing the market and still growing!  How great is that! 

One more note on spending by age group.  45 - 54 year olds have the biggest spending power right now!  Second to them are the 35 - 44 year olds! 

What does all of this mean?  Gary says this is your best opportunity for the biggest professional moment in your life! 

More later!

Rj

The Etiquette of Effective Lead Capture

The Etiquette of Effective Lead Capture, an article from RISMedia.com, examines why most Web sites and blogs are not effective when it comes to generating business.  Here are some tips for making your Web site more effective:  1) Every page should have an email link that is easy to find; 2) Put your phone number on every page; 3) Offer special reports about your local market that you deliver via email; 4) Offer lots of statistics - buyers want to know what the market is doing and sellers want to compare their home to recent sales; 5)  Consider offering a weekly or monthly email newsletter that features in-depth stats.  Make sure consumers can find great information on your site for free - don't force users to sign up for stuff that they can get more easily elsewhere.   
http://rismedia.com/2009-02-17/the-etiquette-of-effective-lead-capture/

Four Truths for Team Leaders:

Whether you're a team leader for a market center like me, or you're a mega agent leading your own real estate team, these are great points!  Basically, it boils down to cutting your expenses, creating the right mind set & accepting the market we're in, focus on prospecting, and knowing your USP or Unique Selling Proposition (why people should do business with you)!   I thought I would share: 

FOUR TRUTHS FOR TEAM LEADERS:

1.  The Keller Williams model was built as a direct result of the recession in the late 1980's.  Don't forget that.  If you've violated our model in some way, you may have to get back to it quickly.  Watch your budget.  Get with your ALC and cut it to the bone, right now.  Lead by example. 

2.  Watch out for the "I'll wait til things return to normal syndrome."  A lot of people will try to follow this.  Those people usually end up having to get out of the business.  The facts are that things never turn back to the way they were.  They go through cycles.  Each cycle is a little different and each cycle takes time.  There are no quick fixes or easy answers.  

3.  Prospecting and basic prospecting training are now the keys.    They will help you maintain and grow your market center.  Also, moving your people quickly (and, quick is like NOW) to the market segments that have sales is the other big key.  You must look for them, know them and see them coming.  You cannot waste time getting your people to where the action is.  Getting there first is a massive competitive advantage. 

4.  Recruit harder than ever.  Don't forget new agents and small companies.  The recruiting issues you may encounter (the cost of being at their current office, our better economic deal, being in control of your own business, training, and consulting) will be in big demand.  Teaching them how to deal with the down-shift will be something they cannot get where they are.  Show your vision, strength and commitment to the industry - and, it's agents.  Talk market shift and strategies daily.  Explain our premise and our economics. 

Now, more than ever, the Keller Williams models and strategies make sense.  Tell everyone to remember this: 

"If you are an opportunist...this is one of the real opportunities of your career."

How to Add Over Six Figures to Your Income Prospecting FSBO's

How to Add Over Six Figures to Your Income Prospecting FSBO's

by Dirk Zeller

For Sale by Owner's can be uncomfortable for real estate Agents to work with. They can often be extremely rude and inconsiderate. They also can be a great source of income if handled in the appropriate manner. The reality is you do not have to look for them; they are out there. They are advertising in the newspaper saying, "Come list me." 

Read the entire article here:  http://realtytimes.com/rtpages/20090130_sixfigures.htm

Simplify and Focus...

Simplify and Focus, an article from Realty Times, examines how to simplify your business planning process and stay focused in 2009.  Choose one word that will be the star you are aiming for this year (e.g., focus, consistency).  Then ask yourself: 1) What is one thing that would make the most difference in my business if I did it consistently? 2) What is the one thing that would make the most difference in your personal quality of life in you did it consistently?  Post your answers where you can see them every day and incorporate them into your daily planning.
http://realtytimes.com/rtpages/20090128_simplify.htm

Eating the "Elephant" with Time Blocking

Eating the "Elephant" with Time Blocking

by Walter Sanford

Without making time for the most profitable activities, I can tell you exactly what will happen -- you are going to be spending time on the most urgent items which are almost never your most profitable activities. The reason why my lead generation book is so popular with top agents is because it points to the direction of the most profitable activities in real estate. One needs now to decipher how to implement these activities on a consistent basis.

Read the entire article at:  http://realtytimes.com/rtpages/20090115_eatelephant.htm

Need something to get buyers off the fence?

Wow!  Check out this article.  I would recommend forwarding it to all of your SOI, buyer prospects - everyone! 

Check it out!

Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.

Click the link below to read the article.

www.nytimes.com/2008/12/06/business/yourmoney/06money.html?_r=2

Holding a Team Advance to Maximize 2009

It's not too late to hold a Team Advance - no matter what size your team is.  Next week, I'm facilitating one for a team of two!   Last week it was a team of 12. 

An annual Team Advance (TA) is so helpful in getting everyone on the same page as well as establishing your annual goals and the strategies you'll use to achieve them.   It is an investment in time and money for the Rainmaker, but I've never seen a better tool to build team cohesiveness and buy-in!

You'll need a full day, some food, and a couple of team building exercises to keep it fun and the blood flowing.   A third part to facilitate is very helpful as well

Typical agenda items includes: 

• The Leader casts the wision for the Team - where they're going, why, and who's going along.

• How will the Team work and play together in the coming year?

• Where did the business come from last year?

What tracking tools were used and were they effective?

Where did the biggest percentage of the business come from?

Review of the marketing plan for the past year - what will be done differently? 

A SWOT analysis of the coming year (S=strengths W=weakness O=opportunities T=Threats).

Where will the business come from next year (broken down by sellers, buyers, referrals).

What new strategies need to be in place to hit those goals?

Determine the individual goals of all sales people and any referrals from admin to determine the total sales unit goal of the Team

The Team write outs their group USP (unique selling proposition).

and of course, a recap of the major action items, who will spear head them, and the deadlines for completion. 

Those are just some of the items that may be covered in a Team Advance.  If you'd like more information, don't hesitate to contact me!

Here's to a prosperous 2009!

Cheers,

Rj

A Little Creativity Doesn't Hurt...

Of course, it's back to the basics in a market like this.  We all know that.  We've got to prospect everyday, sit open houses, consistently work our farms... I know.  But the following article was really interesting to me!  I especially liked the last idea about having local artists display some of their work in the vacant open houses.  Of course, I'd take them out of there as soon as the open house was finished - but what a great idea.  I hope you enjoy the article:

Smart Ways to Reach Potential Buyers
By giving office tours to grade school classes, you can share wisdom about how homes are bought and sold, while introducing yourself to parents and teachers.
Read more >

The Greatest Leverage in Real Estate

The Greatest Leverage in Real Estate, an article from Realty Times, examines how you can gain leverage without building a large team.  According to the article, the "greatest, easiest, and most profitable leverage in real estate sales is becoming a listing agent."  The idea is that you are leveraging other agents to sell your inventory.  Next, consider how you can create multiple streams of income.  Each listing allows you to generate leads from signs, advertisements and the Internet.  These leads can be converted into both buyers and sellers.  Focusing on being a listing agent helps you gain control over you life - less nights and weekends.  And finally, it should be your goal to spend less time per transaction.  Sellers require less time than buyers.  So, rather than a 50/50 mix, you'll want to have more sellers, unless you have buyer's agents working for you.
http://realtytimes.com/rtpages/20081031_leverage.htm