MREA: Systematizing Lead Generation

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Presentation transcript:

MREA: Systematizing Lead Generation Instructor's Notes 11/14/2018 MREA: Systematizing Lead Generation A Course for the Millionaire Real Estate Agent Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Introduction to MREA: Systematizing Lead Generation Instructor's Notes 11/14/2018 Introduction to MREA: Systematizing Lead Generation Objectives: The ground rules for the MREA: Systematizing Lead Generation class The Why, What, and How for learning MREA: Systematizing Lead Generation 1 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Ground Rules 2 Arrive on Time Form Groups Quickly Instructor's Notes 11/14/2018 Introduction Ground Rules Arrive on Time Form Groups Quickly Limit Side Conversations Turn off Cell Phones and Pagers Be comfortable Respect time Respect each other Help Each Other Respect confidentiality Have Fun! 2 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What You Will Learn 3 About MREA Business Systems Introduction Instructor's Notes 11/14/2018 Introduction What You Will Learn About MREA Business Systems 3 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What You Will Learn (cont.) Instructor's Notes 11/14/2018 Introduction What You Will Learn (cont.) MREA: Systematizing Lead Generation Outline 4 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Instructor's Notes 11/14/2018 Introduction Why You Are Here The Goal of MREA: Systematizing Lead Generation: To show you how to take your business to the next level by instituting a scalable lead generation plan Question: What do you want to get out of this course? 5 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

How You Will Learn 6 Get ready for some action-oriented training! Instructor's Notes 11/14/2018 Introduction How You Will Learn Get ready for some action-oriented training! Participate in large group interactive lecturettes. Participate in small group discussions and exercises. Observe your instructor as he/she demonstrates the desired skills and behaviors. Develop an Action Plan based a self-assessment. 6 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 1: In the Business of Lead Generation Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation Objectives: The evolution of lead generation in real estate and an agent’s career The positioning battle and how to win it The real estate business is actually the lead generation business The difference between lead generating and lead receiving 7 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Evolution of Lead Generation Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation Evolution of Lead Generation How the Game Has Changed 8 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Evolution of Lead Generation (cont.) Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation Evolution of Lead Generation (cont.) How Your Career Will Evolve Planning for the Future with the Present in Mind Surviving Developing Thriving 9-10 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The Positioning Battle Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation The Positioning Battle Winning the Battle Exercise: How many brands can you think of? Real Estate Mind Share Positioning INSTRUCTOR: Ask them to volunteer their results. “How many brand names did you and your partner remember?” 11-12 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The Positioning Battle (cont.) Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation The Positioning Battle (cont.) Winning the Battle (cont.) The Point: You want to be first—or at least second—in people’s minds. Question: How do you win the first position? Answer: Through systematic lead generation. INSTRUCTOR: Have them repeat the following mantra aloud several times as a group: “My success in real estate will be in direct proportion to the number of people, who, when they think of real estate, think of me.” 13 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Lead Generating vs. Lead Receiving Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation Lead Generating vs. Lead Receiving Real Estate is Lead Generation No leads mean no business Difference between generating and receiving 14 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Lead Generating vs. Lead Receiving (cont.) Chapter 1: In the Business of Lead Generation Lead Generating vs. Lead Receiving (cont.) Real Estate is Lead Generation (continued) Truth: Until you have enough leads to exceed your goals, there is no other issue but lead generation. Your Biggest Challenge: Focus on lead generation no matter what. 15

Lead Generating vs. Lead Receiving (cont.) Chapter 1: In the Business of Lead Generation Lead Generating vs. Lead Receiving (cont.) Real Estate is Lead Generation (cont.) Fight Temptation Your program must always be active Shift your activities largely toward marketing Marketing should be database-driven Use the 8 by 8, 33 Touch, and 12 Direct Don’t ignore prospecting Your team must master scripts and dialogues Be proactive in hiring 16

In the Business of Lead Generation – Summary Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation In the Business of Lead Generation – Summary The evolution of lead generation Going from surviving to thriving The positioning battle The difference between lead generating and lead receiving Exercise: My Scorecard 17 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

18 Exercise: Give an Aha!, Take an Aha! Instructor's Notes 11/14/2018 Chapter 1: In the Business of Lead Generation Exercise: Give an Aha!, Take an Aha! Think about what concepts you are still struggling with. And think about any Aha!’s. If you have an Aha! about instructor’s topic, share. Name the next Aha! topic for someone else to share. Put your Aha! into action using the worksheet 18 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

19 Chapter 2: Building Your Database Objectives: Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Objectives: Understand that your business is your database Build a database using contact management software Set up systems to incrementally grow your contact database 19 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Your Business is Your Database Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Your Business is Your Database Building Your Business Truth: The size of your real estate business will be in direct proportion to the size and quality of your database. 20 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Your Business is Your Database (cont.) Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Your Business is Your Database (cont.) The Four Laws of Lead Generation Build a database. Feed it every day. Communicate with it in a systematic way. Service all the leads that come your way. 21 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Build a Database Contacts Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Build a Database Contacts Contact Information For all contacts For your inner circles Updating your database Customizable fields 22-24 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Build a Database (cont.) Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Build a Database (cont.) Contact Management Software Using Contact Management Software Quick access to your contacts Easier direct mailing Centralized location Process/campaign/plan generation PDA synchronizing and Web-based versions 25 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Build a Database (cont.) Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Build a Database (cont.) Contact Management Software (cont.) Deciding Which CMS to Use Should Expect Contact information management Address book importing and exporting Transaction management Calendaring and appointment scheduling Email integration and automation 26-27 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Build a Database (cont.) Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Build a Database (cont.) Contact Management Software (cont.) Want Reports Marketing material Web-based software 27 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Build a Database (cont.) Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Build a Database (cont.) Contact Management Software (cont.) What the Best Use Top Producer 33% Online Agent 22% ACT! Other (Outlook, Agent 2000, etc.) 36% INSTRUCTOR: In addition to surveying all KW Associates about what CMS they used, KWRI also surveyed the agents who were interviewed for The Millionaire Real Estate Agent to find out what they used. 28 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Build a Database (cont.) Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Build a Database (cont.) General Public Haven’t Met Group Target Group Haven’t Met Group Network Met Group Allied Resources Advocates Core Advocates 5 50 100 1,765 16,000 At large 1 on 1 8 by 8 33 Touch HAVEN’T MET 12 Direct MET MET (Inner Circles) 29-31 Truth: A millionaire real estate agent’s overall strategy is always designed to generate leads and move people into their inner circle. Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Feed It Every Day Growing Your Database Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Feed It Every Day Growing Your Database Adding Contacts When to enter contacts Growing your inner circles Exercise: Who inhabits your inner circles? 32-34 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Building Your Database – Summary Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Building Your Database – Summary Building a database Feeding it every day Exercise: My Scorecard 35 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Instructor's Notes 11/14/2018 Chapter 2: Building Your Database Exercise: KW Team Feud Divide into two groups. Choose a representative to join the instructor for the question. First representative to provide a correct answer wins the opportunity for their team to guess. Give all possible answers without answering incorrectly. After an incorrect answer, the question goes to the opposing team. If they provide the remaining correct answers, they win. However, if they give an incorrect answer, the first team wins. This is a closed book exercise. 36 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 3: Working Your Database Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Objectives: Systematically market to your database using the 12 Direct, 8 by 8, and 33 Touch programs. Use your contact management software to develop systems to service all of your leads. 37 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way Plans Truth: Real estate sales is a frequent and systematic close contact sport. 12 Direct, 8 x 8, and 33 Touch: Overkill Overtime. 38 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 39 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 12 Direct Includes your mailing lists for farm areas Highly leveraged form of lead generation to the masses Plan and set up each twelve-month campaign The Research: 50:1 40 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 12 Direct (cont.) Design your 12 Direct program to suit you All at once or on a monthly basis Time-block Outsourcing Allied Resources co-sponsorship Mailing list Exercise: What might you send? INSTRUCTOR: Direct Mail firms US Postal Service Member directories of organizations (PTA, churches, etc.) Title or escrow companies 41-42 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 8 by 8 Basic steps Set aside a specific time Schedule mailings before your calls Assign date and team member in CMS Modify the 8 by 8 Ongoing 33 Touch program INSTRUCTOR: “Always start your 8x8 with a personal note that references how you met and what you talked about.” 43-44 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 8 by 8 (cont.) Customized 8 by 8 Plans FSBO’s Expired/Withdrawn Listings Follow-up for Prospective Buyers Follow-up for Prospective Sellers Sample 8 by 8: FSBO 45-46 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 8 by 8 (cont.) Sample 8 by 8: Expired/Withdrawn Listings Days, not weeks Complete the entire plan within 2 weeks Expired Packet Sample 8 x 8: Follow-up for Prospective Buyers For a buyer who does not sign a Buyer Representation Agreement 47-49 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 8 by 8 (cont.) Sample 8 x 8: Follow-up for Prospective Sellers For a seller who does not sign a Listing Agreement Exercise: Customizing targeted 8 by 8 plans. INSTRUCTOR: “Now customize an 8 by 8 plan for some other group, such as Prospective Buyers or Prospective Sellers. Use the MREA: Scripts Catalog for the appropriate scripts.” 50-52 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 33 Touch Basic steps Set aside a specific time Schedule mailings before your calls Assign date and team member in CMS Modify the 33 Touch The Research: 12:2 INSTRUCTOR: “Always start your 8x8 with a personal note that references how you met and what you talked about.” 53-55 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 33 Touch (cont.) Customized 33 Touch Plans Client for Life Advocate Appreciation Program INSTRUCTOR: Include more drop-bys Use an automated email program to take care of your emails 56 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) 33 Touch (cont.) Sample 33 Touch: Client for Life Sample 33 Touch: Advocate Appreciation Exercise: Customizing targeted 33 Touch plans 57-60 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Communicate with It in a Systematic Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Communicate with It in a Systematic Way (cont.) Bringing Value to the Relationship Exercise: Items of value 61 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Service all the Leads that Come Your Way Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Service all the Leads that Come Your Way Lead Management Get on the F.A.S.T. Track Funnel Assign Source Track Truth: Lead management is the number one visibility issue in your office. 62-63 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Service all the Leads that Come Your Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Service all the Leads that Come Your Way (cont.) Lead Management (cont.) Lead management processes Step What system do you use for this? How can you improve the system? Who is responsible for this step now?* Questions that must be answered and documented Lead is Captured Who is the lead? How do we contact him/her? What is their interest (buyer, seller, etc.)? Lead is Sourced Where did the lead come from? What will we do with this specific source? Lead is Assigned Who will follow up on the lead? When will they follow up on the lead? Lead is Stored and Tracked Where can we find the lead in the database? Do we know what has happened with follow-up What is the next step and who is responsible? 64 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Service all the Leads that Come Your Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Service all the Leads that Come Your Way (cont.) Lead Management (cont.) Truth: The engine that drives these processes is your contact management software. Benefits: Train and consult with your staff; set performance standards; know what’s happening in your business 65 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Service all the Leads that Come Your Way (cont.) Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Service all the Leads that Come Your Way (cont.) Lead Management (cont.) Exercise: Lead management systems 66 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Working Your Database – Summary Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Working Your Database – Summary Communicating to it in a systematic way Servicing all the leads that come your way Exercise: My Scorecard 67 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

68 Exercise: Aha! Accountability Instructor's Notes 11/14/2018 Chapter 3: Working Your Database Exercise: Aha! Accountability Think about what you have just learned. Use the questions to consult your partner about their Aha!. Document your own responses 68 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 4: Marketing-based, Prospecting-enhanced Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Objectives: Understand the MREA Lead Generation Strategy Present clear, cohesive and consistent image and a powerful message Focus on seller listings Diversifying your marketing and prospecting to ensure stability 69 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

MREA Lead Generation Strategy Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced MREA Lead Generation Strategy Your Lead Generation Program Exercise: Marketing and prospecting activities 70-71 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

MREA Lead Generation Strategy (cont.) Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced MREA Lead Generation Strategy (cont.) The Same Things Done Differently Question: Difference between the marketing and prospecting categories? Answer: Nothing. 72 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Clarity of Message Branding Your Business Promoting your brand Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Clarity of Message Branding Your Business Importance of branding Elements of a brand Promoting your brand 73-75 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Clarity of Message (cont.) Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Clarity of Message (cont.) Crafting the Message Two Big Words Fundamental questions 76 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Clarity of Message (cont.) Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Clarity of Message (cont.) Crafting the Message (cont.) The Four-H Club Head Heart Humor Hard Exercise: What are the H’s of these messages? 77 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Focus 78 Focus on Seller Listings Truth: Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus Focus on Seller Listings Advantages of Focusing on Seller Listings Economic advantage Lead generation advantage Truth: Millionaire agents build their lead generation model around generating seller listings. 78 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Focus 79 Truth: If you focus on seller listings, the buyers will come! Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus Focus on Seller Listings (cont.) The Natural Balance of Seller and Buyer Listings Truth: If you focus on seller listings, the buyers will come! 79 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Focus (cont.) Communicating a Powerful, “Seller-centric” USP Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Focus on Seller Listings (cont.) Communicating a Powerful, “Seller-centric” USP Higher selling price Faster selling time More value 80-81 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

82 Focus (cont.) Focus on Seller Listings (cont.) Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Focus on Seller Listings (cont.) The Top Ten Service Areas of the Seller Value Proposition Needs Analysis Pricing Strategy Property Preparation Marketing Strategy Receive an Offer Negotiating to Sell Sell Pre-close Preparation Closing Post-closing 82 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Focus (cont.) Truth: The concept of teams, instead of a single agent, Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Focus on Seller Listings (cont.) The Value Proposition of a team Truth: The concept of teams, instead of a single agent, has been in and out of fashion. The goal is to focus on regularly “wowing” clients. 83-84 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Consistently Marketing Your Seller Listings for More Leads Truth: Many agents market a listing to have it sell for the best price in the right time frame. Greater Truth: The marketing of listings should be seen as a lead generation tool for more listings. 85 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

86 Focus (cont.) Basic 14-Step Marketing Plan for Listings Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Consistently Marketing Your Seller Listings for More Leads (cont.) Basic 14-Step Marketing Plan for Listings Staging and Pricing Strategies Signs Flyer Distribution Flyers in House/Home Book MLS Web Listings with Virtual Tour House Featured in “Marketing Vehicle” 86 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Consistently Marketing Your Seller Listings for More Leads (cont.) Open House Program E-mail/Fax/Voice Broadcast Track Showings/Collect Feedback Target Marketing Weekly Seller Updates Property Caravans Creative Marketing Ideas 86 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Focus (cont.) Interactive Voice Response Systems Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Consistently Marketing Your Seller Listings for More Leads (cont.) Interactive Voice Response Systems Why you want this Advertising listings with IVR ads Recording the talking ads Tracking the calls Call-backs 87-89 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

How well do you market your listings? Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Consistently Marketing Your Seller Listings for More Leads (cont.) Exercise: How well do you market your listings? 90-91 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

92 Focus (cont.) Prospecting for Seller Listings Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Focus (cont.) Prospecting for Seller Listings Four Prospecting Musts FSBO’s Expireds Just Listeds Just Solds 92 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Diversity 93 Marketing-based, Prospecting-enhanced Hedging Your Bets Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Diversity Marketing-based, Prospecting-enhanced Hedging Your Bets Marketing-based Prospecting-enhanced 93 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Your Lead Generation Program Exercise: Expanding your marketing and Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Diversity (cont.) Your Lead Generation Program Exercise: Expanding your marketing and prospecting activities 94-95 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

96 Diversity (cont.) Truth: You probably still have a large number Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Diversity (cont.) Your Lead Generation Program (cont.) Truth: You probably still have a large number of lead generation opportunities to explore. 96 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Marketing-based, Prospecting-enhanced - Summary Instructor's Notes 11/14/2018 Chapter 4: Marketing-based, Prospecting-enhanced Marketing-based, Prospecting-enhanced - Summary Understanding the MREA Lead Generation Strategy Presenting a clear, cohesive and consistent image and a powerful message Focusing on seller listings Diversifying your lead generation by making it marketing-based, prospecting- enhanced Exercise: My Scorecard. 97 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 5: Millionaire Referral Systems Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Objectives: Understand your referral strategy to become the Realtor of choice. Focus on cultivating your inner circles to generate a steady stream of referrals. 98 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Referral Strategy 99 Realtor of Choice Success through others Truths: Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Referral Strategy Realtor of Choice Success through others Truths: Your chief concern has to be filling your database with Advocates. The intent of your marketing is to create business and advocacy. 99 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Referral Strategy (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Referral Strategy (cont.) Educate Education is key Question: Do you really know what your friends do for a living? Question: How many friends do you have who could communicate the benefits of using you as their Realtor? 100-101 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Referral Strategy (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Referral Strategy (cont.) Ask You Won’t Get What You Don’t Ask For Realtor for Life Exercise: 102-103 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Referral Strategy (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Referral Strategy (cont.) Reward Referred Gratification Treat the referral source even better than the referral Show your appreciation at every step Reward the right behavior You don’t have to buy the referral relationship Reciprocate when possible 104 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Referral Strategy (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Referral Strategy (cont.) Reward (cont.) Exercise: How will you reward your contacts for referrals? 105-106 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Cultivating Your Inner Circles Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Cultivating Your Inner Circles The Five Referral Systems Establish a database Make systematic personal contact Systematically follow up with special communication Provide exceptional customer service 107-108 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Cultivating Your Inner Circles (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Cultivating Your Inner Circles (cont.) The Five Referral Systems (cont.) Implement a client-appreciation program 33 Touch: Advocate Appreciation Train team members Track referrals for rewards 109 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Cultivating Your Inner Circles (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Cultivating Your Inner Circles (cont.) Your Inner Circles Allied Resources Visit one-on-one several times per year Refer business to them Recommendation of real estate related products and services are used 110-111 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Cultivating Your Inner Circles (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Cultivating Your Inner Circles (cont.) Your Inner Circles (cont.) Advocates Meet advocates at least once a month Exercise: What are things you can do to “Wow!” your clients? 112 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Cultivating Your Inner Circles (cont.) Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Cultivating Your Inner Circles (cont.) Your Inner Circles (cont.) Core Advocates Provide their referrals the highest level of service Provide the Core Advocate some sort of service in return Exercise: What sort of services can you provide Core Advocates? 113-114 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Millionaire Referral Systems - Summary Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Millionaire Referral Systems - Summary Educating, asking, and rewarding for referrals Cultivating your Met database inner circles Exercise: My Scorecard 115 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Instructor's Notes 11/14/2018 Chapter 5: Millionaire Referral Systems Exercise: KW A&Q Contestant will choose a question from category of their choice. The first contestant to raise their hand will be given the opportunity to give the correct response. If the contestant answers correctly, they may pick the next question. If a contestant answers incorrectly, the next contestant to raise their hand has the opportunity to answer. Answers must be phrased in the form of a question. 116 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 6: Knowing Your Numbers Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Objectives: Weigh your lead generation options The goal of lead generation is numbers Determine the effect of your economic model on your lead generation Lead generation ratios and the number of contacts you must amass. Understand the variables of your local market and your team Determine the cost of your lead generation program 117 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Knowing Your Numbers Weighing Your Options Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Knowing Your Numbers Weighing Your Options The Lead Generation Scientific Method Focus Modeling Systems Accountability Conclusion Truth: Successful lead generators pay attention to what works in their market. 118-119 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Playing the Numbers Game Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Playing the Numbers Game Safety in Numbers Truth #1: The number of leads you must generate is critical. Truth #2: Lead generation is not only a numbers game, it’s a massive numbers game. 120 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Playing the Numbers Game (cont.) Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Playing the Numbers Game (cont.) Safety in Numbers (cont.) Truth #3: Systematic marketing is more important than creative marketing. Truth #4: Your lead generation plan must always be more ambitious than your income goals. 121 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The Influence of Your Economic Model Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers The Influence of Your Economic Model Your Economic Engine Leads 122 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Lead Generation Ratios Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Lead Generation Ratios Database Numbers 123 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Lead Generation Ratios (cont.) Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Lead Generation Ratios (cont.) Database Numbers (cont.) Getting the Names Truth: Go after Met and Haven’t Met in some combination of “overkill overtime.” Exercise: Determine your methods for obtaining contacts. 124-125 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Hitting Your Numbers Adapt and Overcome Adjusting with the Variables Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Hitting Your Numbers Adapt and Overcome Adjusting with the Variables Internal Influences Lead conversion rate Appointment conversion rate Listings conversion rate Truth: The real estate business is cyclical and markets always shift. 126-127 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Hitting Your Numbers (cont.) Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Hitting Your Numbers (cont.) Adapt and Overcome (cont.) External Influences Seller’s market Buyer’s market Transitioning market 127-128 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Hitting Your Numbers (cont.) Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Hitting Your Numbers (cont.) Adapt and Overcome (cont.) Being Tenacious about Listings It starts with an attitude Keep your team focused Truth: Millionaire agents are insistent on hitting their goals. 129-130 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The Cost of Success 131 Met and Haven’t Met Costs Met Haven’t Met Chapter 6: Knowing Your Numbers The Cost of Success Met and Haven’t Met Costs Met 1,920 People 320 Sales $31,680/yr. ($99/sale) Haven’t Met 16,000 people 320 sales $96,000/yr. ($300/sale ) 131

The Cost of Success (cont.) Chapter 6: Knowing Your Numbers The Cost of Success (cont.) Met and Haven’t Met Costs (cont.) Assumptions 10% of income 50% per touch Exercise: Your lead generation costs. 132-133

Knowing Your Numbers - Summary Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Knowing Your Numbers - Summary Discovering what works and doesn’t work for you Playing the lead generation numbers game The influence of your Economic Model Lead generation ratios Hitting your numbers Cost of your lead generation program Exercise: My Scorecard 134 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

135 Exercise: Aha! Scratch Out Think about what you just learned. Instructor's Notes 11/14/2018 Chapter 6: Knowing Your Numbers Exercise: Aha! Scratch Out Think about what you just learned. Get into groups of about four-five. Each group will choose five of their best Aha!’s and write them on paper from the flipchart. When all teams are finished, compare the papers. Duplicate Aha!’s are scratched out and the team with the most number of Aha!’s left wins. If you hear or think of a great Aha!, use the worksheet to put it into action. 135 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 7: Putting It All Together Objectives: Anticipate obstacles and determine how to overcome them Protect your lead generation time Keep focused on generating leads 136

Overcoming Obstacles 137 Don’t Let Anything Get in Your Way Exercise: Chapter 7: Putting It All Together Overcoming Obstacles Don’t Let Anything Get in Your Way Exercise: What are the obstacles to success? What will you do to eliminate them? 137

Protecting Your Lead Generation Time Chapter 7: Putting It All Together Protecting Your Lead Generation Time Time on Your 20% Truth: Lead Generation is your most dollar-productive activity. 138

Protecting Your Lead Generation Time (cont.) Chapter 7: Putting It All Together Protecting Your Lead Generation Time (cont.) Time on Your 20% (cont.) Exercise: Are you ready to time-block your lead generation activities? 139-140

Keeping Focused 141 Your Job Truth: Chapter 7: Putting It All Together Keeping Focused Your Job Truth: Your job is to generate leads for your business. Maintaining Focus Systematize Plan Schedule 141

Keeping Focused(cont.) Chapter 7: Putting It All Together Keeping Focused(cont.) MREA: Systematizing Lead Generation Aha!’s: Pursue a double-barrel approach. Take both approaches to the highest level. Haven’t Met business becomes Met business. Lead Generation controls business costs. 142

Putting It All Together - Summary Instructor's Notes 11/14/2018 Chapter 7: Putting It All Together Putting It All Together - Summary Overcoming obstacles Protecting your lead generation focus time Exercise: My Scorecard 143 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What Have You Learned? MREA: Systematizing Lead Generation Outline Chapter 7: Putting It All Together What Have You Learned? MREA: Systematizing Lead Generation Outline Exercise: My Action Plan 144-145