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  • 1. K E L L E R W I L L I A M S R E A LT y R A N K S A S TO P P L AC E TO WO R K I N P H I L A D E L P H I A - P G . 2 2 A PUBLIC ATION OF KELLER WILLIAMS REALTY, INC . SECOND QUARTER 2011, VOL.8 NO.2 CROSSING A TULS R OVER TO KW GE MER ES T CREA NAL IO REG HOUSE ERP OW G . 6 -P
  • 2. 2 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 3. DEAR ASSOCIATES,What a thrill it is to serve as astakeholder with you as Keller WilliamsRealty claimed the rank of the second-largest real estate company in theUnited States, and powers toward itscertain destiny to become No. 1. This awesome achievement is most about the genuine excitement Williams Realty is now the second-entirely yours – entirely a result of for new beginnings was the one-on- largest real estate company in theyour talent, your tenacity, your belief one connections that powered the United States and the third-largest inin the Keller Williams distinct way of event. In Tulsa, as in your market, North America. If that fact is met withdoing business, your determination to the groundwork for growth is being surprise, explain that it comes as one topush limits, to do more, and to become paved every single day with your a lot of people, because Keller Williamsmore. professionalism and positive energy. Realty doesn’t believe in pouring There is nothing that can be written Considering this companys amazing millions of dollars into nationalor said about Keller Williams Realty advertising campaigns that only servethat has more power or more of an the company.impact within your sphere than you Instead, Keller Williams devotesdo. It’s your professionalism and your "clients do its resources to training agents andsuccess that your clients and colleagues business with equipping them with the knowledgesee. You are the face of KW. and skills to serve clients at a high level Talent follows talent and the agents, not – because Keller Williams believes thatnumbers prove that you are the best clients do business with agents, not themagnet for talent that the real estate the real estate real estate company.industry has ever known. And that’s company" Often, less is more, and this simplewhy it thrills us that 25,293 of you had script is sure to resonate with youra stake in a $34.6 million profit share clients, because they’ll recognize it aspool last year, and that we stand to growth trajectory, it sometimes seems true.continue breaking our own records for surprising when our clients and ourprofit share in 2011 and beyond. spheres of influence aren’t aware of Last month, a group of us had the our vast North American reach. It’sawesome privilege of participating in surprising, but it’s actually okay,a merger celebration as more than 50 because it’s not about us, it’s about you. Yours in the truth!agents with the renowned Patterson At the same time, you have an awesomeRealtors in Tulsa, Okla., joined forces opportunity to let your clients know awith our Tulsa Metro market center little about the company you keep.– catapulting Keller Williams Realty During client consultations, andto the No. 1 spot in the market. (See even social situations, we hope it serves Mark Willis, CEO,article on page 6.) What impressed us you well to let it be known that Keller Keller Williams Realty Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 3
  • 4. table of contents vol. 8, no. 2 - Second Quarter 2011MASTERMINDS 06 CULTURAL CONVERGENCE 08 BOLD MOMENTUM Rookie hops the BOLD MAY 16-18, 2011 Meeting of the like- minded in Tulsa creates train to the top. competitive powerhouse. There are someevents that are only for high rollers. MAPS Masterminds is 12 16 more than a networking MAKING A SHARPENING session or a seminar. It’s MARK THE SAW an opportunity for themost successful real estate Personal branding The word on eEdge: professionals in North proves key in the luxury “WOW!” America and those whowant to learn from them market. to share and brainstorm leading-edge strategies that produce results. COSMOPOLITAN OF LAS VEGAS 20 TOPS IN TORONTO Powering a career for 22 INSIDE SCOOP Attention Philadelphia LAS VEGAS, NEV. the long haul. agents: KW is THE MAY 16-18, 2011 place to be! www.events. mapscoaching.com Second Quarter 2011, vol. 8 no. 2 Executive Director of Marketing and Communications: Ellen Marks OutFront is published by Keller Williams Realty, Inc. OutFront is a publication of Editor: Lisa Wahlgren (outfront@kw.com) The entire document of OutFront is copyright© 2011 Keller Williams Realty, Inc. by Keller Williams Realty, Inc. No portion may be Marketing and Communications Specialist: Laura Price reproduced in whole or in part by any means, including Copy Editor: Jeff Ryder electronic retrieval systems, without the express written 1221 South Mopac Expressway, Associate Art Director: Michael Balistreri permission of the publisher. Editorial or advertising does Suite 400 Designer: Caitlin McIntosh not constitute advice but is considered informative. Austin, Texas 78746 (512) 327-3070 phone Contributors: Celesta Brown | Jennifer LeClaire | Carla Jo Schaefer Copyright© 2011 Keller Williams Realty, Inc. (512) 328-1433 fax Advertising: Tom Freireich (advertising@kw.com) All rights reserved. Job Inquiries: (jobs@kw.com) 4 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 5. SHORT SALE M A S T E R Y Build your business with short sale buyers and sellers! Photos by Steve RuarkMastering short sales: A long-term opportunity Sponsored by: By Roger Higle, Course Writer, Keller Williams UniversityConsidering the stake that our industry has panelists.in the recovery of the U.S. real estate market, Among the most useful aspects of thewe need to be more than simply committed curriculum for many is a recognition thatto promoting short sales as an alternative to taking on the entire, end-to-end short sale New opportunitiesforeclosures. For many top Keller Williams process can appear daunting – especially at for short sale businessshort sale agents, it has become a mission. the beginning. As such, we’ve identified severalAnd judging from the recent response to different directions that agents can take that As the sponsor for the ShortKeller Williams Realtys, 31-city Short Sale entail distinct expertise and skills. Within Sale Mastery tour, CitiMortgageMastery tour, many of you are interested in market centers and regions, new businessbecoming a part of it. partnership are now forming, as agents who representatives are providing tour Short sales represent the dominant excel at identifying and qualifying leads, for attendees with the invaluablesegment of the distressed properties market, instance, focus on that piece and then handas well as the most significant growth niche off the administration and negotiation to lenders perspective on how towithin most U.S. markets. While many agents partners who specialize in that part of the best navigate and negotiate shorthave already established a lucrative practice process.within the short sale arena, all experts Regardless of your current level of sales. Attendance at the Short Saleagree: there is more than enough room for involvement with short sales, this tour offers Mastery course will be one of thenewcomers who have the knowledge and a valuable insights and information. If you have ways that Keller Williams associatescommitment to making a difference. not already attended a tour event, be sure to To that end, the one-day Short Sale put one of the remaining tour dates on your can qualify for this opportunity.Mastery tour is having a phenomenal impact calendar. Short sales are a business that willdue to the instructors depth of in-the- be with us for years to come. ©2011 CitiMortgage, Inc. CitiMortgage, Inc.trenches expertise, combined with the does business as Citicorp Mortgage in NM. CitiMortgage, Inc. is an equal housing lender.invaluable insights offered by local market Citi, Arc Design, Citi and Arc Design are registered service marks of Citigroup Inc.For the complete list of tour stops and to register, visit:(www.millionairesystems.com/ShortSaleMastery) or call 512.306.6236. Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 5
  • 6. THE MOMENTUM CONTINUES! CROSSING OVER TO KW Tulsa Metro welcomes 52 agents from Patterson Realtors into the KW fold By Lisa Wahlgren In the Tulsa, Okla., real estate community, Chuck Patterson level, but I realize that to thrive in the future, knowledge of is more than an icon. He’s an institution – and a beloved the local market is not going to be enough. From a technology institution at that. and educational standpoint, it was getting more and more Recently, after 34 years at the helm of Patterson Realtors, challenging for a small independent to compete. The scope the renowned thought leader realized that it was time to “re- has increased from local to national to international. We don’t engage, retool and reinvent” his company in order to keep his have a Keller Williams University, or the kind of technology agents on the cutting edge of an evolving real estate market. that Keller Williams offers. I figured there’s a reason why What followed was a lot of discussions and due diligence and Keller Williams has grown over the past five years and other a final decision to join forces with Susan Beach, team leader, companies haven’t.” and Sherry Lewis, operating principal, at the Keller Williams Clearly, however, it was culture that proved to be the most Tulsa Metro Market Center. important factor. “Our companies’ basic beliefs are so similar,” Among his company’s 52 agents, Patterson recalls that the Patterson says. Finding the clearly stated values of “God, family decision was met with nothing short of shock and uncertainty. and then business” to be a significant draw, Patterson says Ultimately, open minds and open hearts prevailed as the he loves the fact that “agents were encouraged to direct their official welcoming ceremony on March 31, 2011, was beliefs toward the support of the community and the people attended by representatives from all of Keller Williams market they worked with. Once I learned what Keller Williams was all centers in Tulsa and surrounding communities, proved to about, I said, ‘My God, you’re like one big us.” be a genuine exchange of warmth and excitement for new friendships and new beginnings. GOOD VIBES Recalling the thought processes that led him to Keller Having hoped to connect with the leadership team of Williams, Patterson says, “I’ve survived a lot of ups and downs Patterson Realtors for a few years, Beach says that once she in the market, and I knew we were in for more changes. Our and Chuck started to get to know each other, their “similar, agents are very experienced and very productive at the local like-minded value systems” propelled the conversations6 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 7. "Now that I see all of the training and technology that Keller Williams offers, I realize that I have just scratched the surface." — Royce Ellingtonforward. “Both of us have an amazing group of people, and we that Keller Williams Realty encourages agents to keep theirhave a high regard for each other. Chuck’s respect and concern autonomy and manage their own teams.for his agents is just awe inspiring.” In return, agents have As Royce Ellington, top-producing agent from thebeen intensely loyal to him, Beach says, adding that for a few former Patterson Realtors, notes, any apprehension amongweeks prior to the merger date, she made a point to meet one- incoming agents gave way to excitement following the mergeron-one with incoming agents as the first step toward getting celebration and official welcoming ceremony. “Walking acrossto know each other personally and forming new bonds. the stage during the ceremony and being welcomed by the Just as one of many indications of the depth of feeling leadership team, including Mark Willis, and then being high-among both companies, Lewis, who is also director of the fived by a big group of Keller Williams agents as we exitedOklahoma Region, notes that on the day prior to the official the stage really helped to make us feel welcome. Another neatmerger, agents and the leadership team from Patterson touch was the willingness on the part of the Keller WilliamsRealtors had their final team meeting and then walked out of agents to replace yard signs on our behalf. All it took was onetheir offices holding yellow balloons, which is their company week for everyone to feel extremely comfortable here. Thatcolor. As they released them into the air, Keller Williams Tulsa really speaks volumes for Susan and Sherry. The KW culture isMetro associates in the office across the street, applauded and really shining through," Ellington says.cheered. “I’ve been the top producer for Patterson Realtors for the past five years, and I thought I had a handle on my real estateSTRONG FOUNDATION business,” he adds. “Now that I see all of the training andUnderlying the culture and the human connections, the Keller technology that Keller Williams offers, I realize that I haveWilliams business models played a major role in making just scratched the surface. I was hoping to just move mythe merger possible. Beach explains that the concerns that business over, and now I realize that I’m going to improve myPatterson and former president Mike Haley may have had business by leaps and bounds.” kwabout losing their autonomy were largely allayed by the fact Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 7
  • 8. BOLD AND BOLDER Rookie gets recipe for success trajectory By Jennifer LeClaire “I didn’t think I could afford to invest in myself. It was a big risk. But I knew I was When Terronald Logan signed on with the Austin Southwest market center as a brand-new agent in November 2009, right after getting his real estate license, he didn’t have a lot of confidence and was reluctant to pick up the phone. So early into 2010, he made a bold investment in himself that not only turned his career around – it changed his life. Logan credits the MAPS BOLD program with catapulting his fledgling career to a level that he could not have imagined. During his first stint in the program, he acquired, among other things, a new mindset, and a $1 million buyer. “That was one of my very first transactions.” Convinced that he still had a lot to master, Logan signed up for BOLD again in the fall, along with “The Language of Sales” Fast Track group coaching course. Logan describes the experience of taking both classes at the same time as “living in a real estate boot camp.” And it paid off quickly. “I had a client whose house I listed, but it didn’t sell. Because of The Language of Sales, I knew exactly what to say to convince him to relist the property with me at a price where it would sell,” Logan says. “That led to a $700,000 sale.”8 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 9. Photo by Brian Fitzsimmonsworth it. I had to trust in myself" - Terronald Logan In 2010, Logan capped in four months, and decided to keep investing in himself. He joined Luxury Homes by Keller Williams in order to benefit from market-specific resources to cultivate high-end clients. He also signed on for “Find the Motivated for Immediate Sales” – another MAPS Fast Track course that that he credits with helping him target his prospecting strategies. What’s next? Logan says he’s excited about taking BOLD for a third time this fall and then enrolling in Mastery Coaching. He expects to end 2011 with $8 million in production, and then to kick off 2012 by capping in one week. “I didn’t think I could afford to invest in myself. It was a big risk. But I knew I was worth it. I had to trust in myself,” Logan says. “The coaching and education I am getting through BOLD, the Fast Track courses, Family Reunion and the Keller Williams culture has been life-changing for me. This is exactly what I needed to flourish, and I feel like I am making a difference.” kw Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 9
  • 10. VIRAL MARKETING AFFICIONADO shares strategies at Masterminds By Jennifer LeClaire Viral marketing. It’s a buzzword that gets thrown around a discovered that a series of videos can accomplish the same goal lot – and a concept that was addressed at Masterminds in Las as face-to-face presentations, while allowing him to be more Vegas. productive. At its core, viral marketing is using social networks to drive “If a seller’s listing is about to expire, we have eight videos brand awareness. More and more agents are using YouTube to that go out over 18 days to get them to re-list with us. I charm new and prospective real estate clients and expand their position myself as the expert in Ocean City, and people come sphere of influence via online sources. Among the industry to me for expertise.” members who are adept at the use of social media to establish The videos are sent to different segments of his database their expertise: Prudential agent Jeff Quintin, who recently eight to 10 times a month. Analytics software tracks addressed Masterminds attendees. viewership, and YouTube metrics even indicate the point “I launched an educational series called ‘20 Things You at which people stop viewing. He credits his educational Jeff Quintin Absolutely Must Know to Avoid Foreclosure,’ and created 20 emphasis (as opposed to a sales pitch) to a consistently high videos and an introduction,” Quintin says. “People have to level of viewership and a lot of “shares.” opt in with their email address to get links to all 20 videos A clear indicator of the strategy’s effectiveness: Quintin sells emailed to them. This builds my database.” a lot of homes. In 2010, his team closed a total of 164 homes. Every time Quintin starts a new video series, he sends the This year, he expects to close 200. Although he can’t connect introductory video to his database. He also posts videos on his all the sales to viral marketing, his gut tells him it’s paying blog and his YouTube Channel. The real magic happens when dividends. people forward the email to their friends, post the video on “The biggest challenge is taking the time to create the their Facebook page, or send a link through Twitter. Quintin videos,” says Quintin, “Sometimes it’s frustrating because you has watched videos go from a couple hundred views to a few make mistakes and have to do retakes. You have to get skillful. thousand. That takes time. But being the one who gives people the Quintin works in the resort market of Ocean City, N.J., education they are looking for makes me the market expert where there are a lot of absentee owners, but he says the and the one who clients are going to buy from and tell their strategy works in any market. He uses the videos as a way friends about.” to save time making listing presentations in person, and has kw Ever wished you were on of those confident people who also had just the right thing to say? Learn how! BOLD Scripts Workshop Power Prospecting Workshop Learn how to set one appointment per Live coaching with a MAPS Coach as day, and close 75 percent or more of you are prospecting for new leads. your appointments and walk away with a • Use scripts more effectively signed contract – all in a supportive, fun • Increase your closing ratio and exciting environment. • Reduce your fear of rejection • Set more appointments • Generate more leads and sales To arrange for a MAPS coach to lead a workshop in your market center, contact MAPS@kw.com or call 800-822-9360 and ask for BOLD.10 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 11. give where you live! RED Day (Renew, Energize, and Donate) is a service initiative dedicated to celebrating Keller Williams Realtys year-round commitment to improving our local communities.Last year, RED Day participants gave more than 150,000 collective service hours in just one day! This year, on May 12, 2011, the giving promised to be even greater, as more associates embraced the Keller Williams culture of giving and touching the lives of community members. Here are just a few ways that Keller Williams associates celebrated RED Day. The Easton (Mass.) market center met with the The Anchorage market center stepped up as recipients of their "Day of Service" and made plans to the sole sponsor for a Habitat for Humanity include 100 percent of their market center in RED Day. house raising $100,000 and contributing more "We chose a Family Life Center which houses 13 to than 2,500 hours in volunteer time. “Our bro- 14 families on an interim basis, while helping them with ker, Butch Jacques was inspired to spearhead child care, mental health issues, support and just being this effort and went so far as to say that if we there for them," says Mary Nardone, RED Day repre- fall short, he and his wife would personally sentative. "They have at least five locations in the city of guarantee the rest,” says Jennifer Toomer, team Brockton where they care for families in need. leader. “Our people step up to the plate every On RED Day they painted a childrens reading room, time. I am blessed to have that kind of leader- repaired water damage, and cleared an area for a garden ship in our market center and on our staff! and a basketball court. Butch has truly been a leader in this years RED Day undertaking!” “We want to thank Mo Anderson for true leadership that pushes us to strive harder, reach farther and push ourselves in changing The Nashville-Murfreesboro market center the lives of our agents and our communities,” spent RED Day at Greenhouse Ministries, paint- adds Toomer. ing, building a fence, sorting donated clothes, remodeling a break room and building a loft above their storage area. “We were so excited to share our culture and to give back to our community,” says associate, Dee Lewis. http://www.kw.com/kw/redday.html Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 11
  • 12. PIECING TOGETHER Winning strategies in a complex market By Jennifer LeClaire As a child, Brandy Coffey loved to work puzzles. She’d spend Having gotten her start in real estate back in 2004, right as the hours sorting and matching the pieces until the picture market started to shift, Coffey’s career took a definite upswing emerged. Then she’d do it again. last year when she stepped away from her own boutique So it was very fitting when years later she earned a B.A. brokerage and joined forces with the Greater Manatee market degree in psychology at the University of South Florida. center and Luxury Homes by Keller Williams. “I’ve already She has a passion for helping people to put all of the pieces received seven referrals from the Luxury Homes division and together. my revenues have been increasing steadily over these few After college, Coffey wanted to move back to Sarasota, a months,” she offers. “I can’t imagine where I would be now city named by several top publications as a “best place to live if I had joined Keller Williams Realty when I started in this and work.” Being close to family also mattered a lot, especially business seven years ago.” since her mother was facing radiation treatments and surgery. With designations that include Resort and Second Home While working a part-time job, Coffey studied for the real Specialist and Certified Luxury Home Marketing Specialist, estate exam, and it wasn’t long before she realized that the Coffey notes that the superior marketing collateral and fundamentals of real estate mirrored the fundamentals of support she receives as a member of Luxury Homes by Keller psychology. Williams is proving to be the clincher in helping her get a foot “I just relish the opportunity to put someone in the right in the door and seal the deal with high-end homeowners. home,” Coffey says. “It’s like working a puzzle – matching a She’s found out that, the more she digs in to all that Keller client to a lifestyle, which is what a home purchase is.” Williams Realty has to offer, the more her career moves forward. Lately, the homes she has been matching clients to are on As a recent devotee of The Millionaire Real Estate Agent, she’s the higher end. now managing to pull all of the pieces together, implementing12 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 13. PRICEL ESS PUBL IC I TY For an agent of Coffey’s caliber, a brief stint in the limelight can catapult a career to an entirely new level. Recently, her solid reputation brought her to the attention of the producers of HGTV’s hit show, “Bang for Your Buck.” The show features three homeowners in the same city who renovate the same room in each of their homes using the same amount of money. Two experts, a designer and a real estate agent discuss and compare each homeowner’s renovations in detail to determine who got the biggest “bang for their buck.” The designer focuses on trends and styles, while the local agent talks about how the remodel increased the value of the home. Ultimately, the experts determine if the homeowners will be able to recoup their money when they sell the home. Coffey was selected as the agent for an episode of kitchen renovations filmed in Sarasota, and once the producers realized what a natural she was in front of the camera, she was invited back to do a second show. Both Jeff Peldon air on HGTV this summer. shows willthe principles and step-by-step techniquesadvocated with in the text. A newly hiredassistant is providing much-needed leverage Brandy Coffey (right) during the filming of HGTVs "Bang for Your Buck."– freeing her from administrative tasks andallowing her to spend more time serving herclients. And then there’s the technology Next issue: Highlights fromcomponent. “Keller Williams is just sofar ahead of the game,” she says, addingthat eEdge offers a newfound potential to The 4th Annualefficiently manage leads and contacts. A new force to be reckoned with in Keller Williams Luxurycentral Florida’s Gulf Coast, Coffey offersa distinctive blend of confidence, creativity Homes Retreatand hard work that resonates with high-endclients. “You have to be creative in matchinga client to a lifestyle and in how you will The Cosmopolitanmarket and sell their property. I love what I of Las Vegasdo so much. I work hard, but it never feelslike work.” kw May 14 - 16, 2011 Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 13
  • 14. Pricing Perspectives Your job: make sure your clients get it! By Gary Keller, co-founder and chairman, Keller Williams Realty Much of what drives our success as real estate agents comes The chart below is an updated version of a slide that we down to perspective. showed during the Vision Speech three months ago, and it The all-important task of lead generation (three hours a illustrates the impact of interest rates on affordability. U.S. day, every day) is fueled by our ability to add value to the agents: if you have not already done so, make sure you get a conversation and the relationship. Refrigerator magnets, copy of this chart in front of your clients.* pens, calendars and any other ways you can think of to As you can see, the cost of a loaf of bread and a gallon of keep your name in front of your clients are all fine, but if gas has more than tripled since 1989, and car prices have you are looking to genuinely distinguish yourself and drive nearly doubled. While the median price of a new home has your business, you need to focus on sharing expertise and increased by 70 percent, that’s not the most relevant statistic. perspective. That’s what our clients need and want from us. Mortgage interest rates, which stood at 10 percent back in During the Vision Speech at Family Reunion in February, 1989, averaged 4.84 percent during the second week of April I focused a lot on affordability, which in the United States 2011. The impact of rock-bottom interest rates is that the right now is nothing short of amazing. Among those sharing monthly mortgage payment on a median-priced home has the stage with me was John Furber, our regional director for hardly changed in more than a decade. Canada, who discussed factors affecting the Canadian housing Unless a buyer is paying cash, the monthly payment tends market. to be far more relevant than the home’s actual purchase price. While current price trends for the United States and So for buyers who are waiting for home prices to hit the floor, Canada are considerably different, the same principle applies it’s important to point out that the possibility of a slight drop in both cases: clients need perspective and they need to look in the price of a home will have very little impact on the beneath surface statistics before making informed decisions. monthly payment, while even a slight rise in interest rates (a Clients in both countries would be well-served if we helped far more likely scenario) will have a significant impact. them to shift their focus away from the actual purchase price Timing the market to a T is never possible, and in the of the home and toward the big-picture impact of interest rates. HOME PRICE VS. PAYMENT - UNITED STATES U.S. BUYER BONANZA 1989 2010 2011 YTD Let’s start with the United States, where homes are more Bread $0.67 $2.49 $2.49 affordable, relative to the median income, than they’ve Gas/gal. $0.97 $2.73 $3.87 been in a generation. For any number of reasons, buyers are $15,350 $28,400 $28,400 New Car not snatching up properties to the extent that we’d expect Median Existing Home Price $94,000 $173,000 $156,100 them to, but chances are, if they had a better grasp on just how remarkable the current price picture is, their sense of Mortgage Rate 10% 4.69% 4.91% urgency would move up several notches. Monthly Payment $825 $896 $829 Source: KW Research14 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 15. current market, staying on the sidelines is more likely to looking at local price trends within their specific price result in a missed opportunity than a small savings. range. Those are the facts, but buyer reluctance in the current At the same time, remind your clients that the monthly market can outweigh compelling facts. U.S. buyers are mortgage payment, not the actual purchase price, tends to skittish about the housing market, and our job is to explain be the relevant number. Whereas the average home price to them that market skittishness is actually a good reason to has increased by 160 percent since 1990, mortgage interest buy now – because it is. rates have decreased by 60 percent. General uncertainty about the housing market and a As a result, over the past decade, the average mortgage reluctance to take action only contributes to the number payment has increased by less than 25 percent – a statistic of deals and negotiating power available to astute buyers. that is likely to shift the perspectives of many Canadians on U.S. buyers who are waiting for the real estate market to the feasibility of buying a home in the current market. “recover” are in fact waiting for a reduction in inventory, fewer foreclosed properties on banks’ books, rising home ONWARD … prices and sellers who don’t need to be as motivated. That scenario will be welcome news for sellers, banks and the U.S. economy as a whole, but not for buyers. Now is the time for U.S. buyers to act and for you to offer the perspective that helps them to understand why. CANADIAN CONSIDERATIONS As I mentioned earlier, average home prices in Canada are trending upwards but as is always the case, those of us who are willing to dig beneath surface statistics are far better positioned to help our clients to understand the big picture *For copies of the PowerPoint and to take action. Before we look at housing affordability presentation from this years in Canada, though, I’d urge all Canadian associates to make Vision Speech, go to (www. sure that your clients also understand the opportunities agentmountain.com). that rock-bottom U.S. interest rates and real estate prices – particularly in the sunshine states – represent to them as well. In doing so, you stand to power a new stream of referral income. As the chart below indicates, the average home price in Canada has increased by 160 percent since 1990, while shooting up 9.5 percent since last year. For some buyers, this trend might contribute to a sense of urgency to buy before housing prices shoot up any further. Others could take one look at current prices and be convinced that they have been priced out of the market. This is where your perspective proves critical. First, remind your buyers that all real estate is local. The recent run-up in average real estate prices reflects above-normal sales activity in the priciest markets, so make sure that your clients are HOME PRICE VS. PAYMENT - CANADA 1989 2010 2011 YTD Bread $0.67 $2.22 $2.66 Milk $0.59 $2.25 $2.32 Gas/liter $0.49 $1.01 $1.33 Avg. Home Price $141,985 $339,030 $371,286 Mortgage Rate 13.35% 5.61% 5.34% Monthly Payment $1,554 $1,831 $1,941Source: KW Research Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 15
  • 16. POWERING NEW POSSIBILITIES Associates weigh in on eEdge SAVING TIME AND SELLING MORE terminology lacks the high-tech edge that characterizes As Darne Ridgley, associate with the Chattanooga what the system is all about, it very Downtown market center, sees it, what he learned in much describes the comprehensive, BOLD applies directly to eEdge: “Success is simple, just contract-to-close advantage of eEdge. not easy. “Every agent within Keller Williams “I’m responsible for eEdge training in my market now has some place to start,” center and we are one of the most positive market centers Armstrong emphasizes, adding that in the region about the potential for the system can be “as simple or as this new capability.” sophisticated as you need it to be.” As far as the myTransactions As far as the cost: “$15 is nothing portion: “Oh my gosh! I worked for putting a forms and electronic- three deals this week and I have not signature capability in place. On top had to leave my office once to get of that, we have access to an optimized Website that’s a signature. Earlier this week, I sat bringing in leads, as well as a framework for managing down with probably the least tech- and marketing to our contacts. eEdge is going to savvy agent in our market center, continue growing with the input of agents,” Armstrong and we worked through how to send says. an attachment via myTransactions. “Technology is changing at the speed of light, so this She got it, and it saved her a 45-minute trip. We’re very thing is never going to be static.” happy with the whole DotLoop portion and clients love it because it makes us appear to be on the leading edge." SIMPLIFYING AND STREAMLINING "myTransactions is the income-maintaining part of For Shari Gross, associate with the Destin (Fla.) market eEdge. What’s really going to make a difference to our center, the most powerful aspect of eEdge is the ability to business is the income-generating portion. I’m loving get clients and her sphere set up on marketing campaigns the lead capture capabilities. My buyer’s rep has put two that run automatically. “The first deals under contract since we got on eEdge." thing I did was get my past clients set Ridgley has figured out how to funnel buyer leads up on a 33-Touch campaign, and then into his eEdge account via Craigslist – a strategy that’s I edited the content to send another resulting in two to four leads every day. version out to affiliates and other members of my sphere. I love that FUSING FUNCTIONS INTO ONE SYSTEM people can search the MLS from my As a member of the Keller Williams Associate Technology site, and that all my leads are being Council (ATC), Ron Armstrong, associate with the funneled into one place. It’s also great Asheville (N.C.) market center, participated in the ATC that my assistant likes it, because that masterminds event that gave birth to eEdge. means she’s going to use it!” “We originally conceived of eEdge as ‘Your Business in a Box,’” Armstrong points out. And even though that16 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 17. Dear Team,There are many ways every year that wegauge the success of Family Reunion.In 2011, we added two new ones:• The realization that the combined that has certainly been the case during for technology that no one else in the attendance at the national this transition phase. To those of you industry has. When completely rolled conventions of our major who have dug in, downloaded eEdge out, the technology will likely save you as competitors was less than the 101, attended classes, taught classes or much money in gas as you spend on this attendance at our one event even stepped up as your market center’s product.• Repeated citations by the fire marshal eEdge ambassadors, thank you for I’m really proud of this company for exceeding the capacity of a room your leadership, your energy and your for having the courage to tackle this during a breakout session! example. initiative. And I’m really proud of all A technological undertaking of this of you who have looked for, found andFlaunting fire safety was hardly our magnitude requires patience – as well embraced the benefits of somethingintention, and when we realized as perspective. As he’s done so many incredible and new for your business.”that interest in the eEdge breakouts times before, Shaun Rawls has risenexceeded our expectations, we quickly to the occasion with his characteristic Thank you, Shaun! We couldn’t agree scheduled duplicate sessions. Our clarity and perspective. Here’s an more! Yours in embracing the benefitsexperience following the launch of excerpt of what Shaun wrote a few of something incredible and new foreEdge made one point clear: we have weeks ago to members of the Rawls your business!entered into an exciting new chapter Group in Atlanta, Ga.:for Keller Williams Realty and for theentire real estate industry. “The launch of eEdge and the promise of What an enormous leap forward into what eEdge is certain to become is a giftthe future you have challenged us with, of pioneering proportions. For $.50 aand what an extraordinary opportunity day, you and I will have a complete set Mary Tennantit’s been for all of us. With any new of technology tools never before seen in President and COOchallenge, new leaders emerge, and the real estate industry – $15 per month Keller Williams Realty FROM CARy SyLvESTER, ExECUTIVE DIRECTOR OF TECHNOLOGY Did you know that within eEdge, you can easily set up distinct You’ll be directed to the “Contacts” page where you’ll need to click marketing campaigns for select groups within your data base? on the “Import/Export” link in the far right corner. From there, you’ll be Suppose you want to specifically target your high school alumni – or guided through an easy, three-step import process, and can manually add members of the Chamber of Commerce, or the Junior League, or your additional contacts to this group moving forward. LinkedIn contacts – here’s all you need to do: To stay on top of all great ideas for optimizing eEdge in your business, From the eEdge dashboard, click on “myContacts/Add a New go to http://mykw.kw.com/eedge and click on “Live Training” to sign up Contact.” Click on “Manage Group” in the top right, enter the name of for upcoming Webinars and to access archived training – on topics such the group and click SAVE. as how to set up groups! Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 17
  • 18. COMMERCIAL KINGPIN S T R I K E S REFERRAL GOLD Synergistic alliances boost sales David By Jennifer LeClaire A year ago, David Neault was skeptical about KW and industrial projects, Neault saw the potential in KW Commercial. A successful commercial broker at Coldwell Commercial, and is now actively involved in growing the Banker Commercial, Neault wasn’t interested in switching division. allegiances – but he didn’t mind receiving referrals that In Neault’s experience, the larger, entrenched firms tend agents at the Rancho Cucamonga market center in to shower recruits with the promise of lots of referrals California’s Inland Empire Region sent his way. that don’t pan out. “The truth is,” he says, “only a small “I thought I might get one or two referrals from the percentage of top agents at large firms are getting significant residential agents,” says Neault, who launched his career in referrals." With the KW Commercial model’s cap and the 1986. “But the referrals started coming in steadily, and I team-oriented culture, he explains, referrals from residential was surprised at the enthusiasm of Keller Williams agents. I agents tend to flow naturally. started to think more and more about taking Dave Skolnick, “Commercial agents are trained in a hypercompetitive, associate with the Rancho Cucamonga (Calif.) market dog-eat-dog scenario that wears you down over time,” center, up on his suggestion to launch a division of KW Neault says. “KW Commercial has a different culture – one Commercial in the Rancho Cucamonga office.” that’s focused on helping less experienced agents to grow Further discussions led to an offer to launch a regional in their careers, while boosting the referral base of more KW Commercial office that would serve a wider base of experienced agents." residential market centers. In July 2010, Neault officially Neault is a prime example. He recently received a referral signed on as the KW Commercial director at the Norco- from a Keller Williams residential agent at the Rancho Ontario market center. Cucamonga market center. The client wanted to purchase “I was at a crossroads in my career,” Neault explains. “I a motel in the region. The $3.85 million deal that Neault took a look at where my leads were coming from, and KW closed resulted in a $17,000 referral fee. Commercial’s business model was a good fit for me.” With “That deal was larger than any referred to me during a career that spans sales and acquisitions of commercial real my nine years with Coldwell Banker Commercial,” Neault estate and land, as well as leasing and development of office says, and he credits regional and market center leadership18 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 19. The truth is only a small percentage of top agents at large firms are getting significant referrals. But with the KW Commercial model’s cap and the team-oriented culture, referrals from Photos by Ron Murray residential agents tend to flow naturally.Neault -David neault for encouraging commercial agents to attend sales meetings and work closely with residential agents to create a level of cooperation and synergy that is unmatched in the market. A member of the Commercial Leadership Council, Neault is on the front lines of helping to shape the future of KW Commercial in the Inland Empire Region. He’s involved in developing Regional Commercial Masterminds events, as well as local training, property exchange forums, small group masterminding and networking. “We’ve also embarked on developing national and international practice groups,” Neault says. “These groups will bring expertise from a national perspective to help on larger transactions, while serving to elevate KW Commercial’s profile in the market.” Neault is excited about the future of KW Commercial. From a personal standpoint, he’s committed to helping advance it in the region and build a committee that can establish standards of practice that are considered the best in the industry. “I want to be part of the growth,” Neault says. “I want to build an office in the Inland Empire that is well-respected and can compete on every level. I look forward to KW Commercial being the commercial real estate company of choice.” kw Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 19
  • 20. Photo by Mark Blinch 4 FRASER’S 20 top Success strategies from one of Toronto’s finest outfront 1 BE IN THE MOMENT. Don’t think ahead to your next interaction. Truly listen to what your client is saying or you may miss something very important. Second Quar ter 2011 • vol. 8 no. 2 2 Always remember that buying a home is the most IMPORTANT PURCHASE OF YOUR CLIENTS’ LIVES and can be very emotional. Keller Williams Realty
  • 21. Mid-course correctionCONVERGING FACTORS REVEALKW AS THE BEST CHOICE By Carla Jo SchaeferAt the top of his game in Toronto, Kester Fraser came to a was the culture that proved most appealing. “Keller Williamslife-changing realization last year: his future was with Keller has a great tradition of presenting proven business practicesWilliams Realty. and providing an environment where agents openly discuss So he left RE/MAX to join forces with the Toronto-Beach/ and share strategies. It is a transparent operation with anRiverdale market center – after 21 years in the business. agent-centric business model that focuses on cutting-edge,Joining him were his wife, Kimberly Doyle-Fraser, and sister, systems-based training,” Fraser observes. He adds, “TheLynn Fraser-Polifemi, who were both new to real estate. company offers an organized array of superior business Why Keller Williams and why now? “It was just the right systems that are easily accessible to all of their agents. Astime.” Fraser says. “It wasn’t a spur-of-the-moment decision. a result, anyone from a rookie agent to a seasoned veteranI had been thinking about it for quite awhile, and had been can plug in and use established business systems that candiscussing the possibility with Canadian Directors Diane substantially shrink the timelines in which their dreams areMitchell and John Furber since 2007.” realized.” Mitchell and Furber had worked with Fraser at his former While Keller Williams Realty has much to offer Frasercompany and “they believed that Keller Williams Realty and his team, he clearly brings a lot to the table too. “I havewould be an excellent match for me, and would open up new seen ups and downs in the market, and have been able toopportunities,” Fraser explains. adapt to changing times. I know the Toronto market and His decision was also influenced by the fact that his wife have built a solid client base, having worked with builders,and sister had recently left the corporate world to become real mortgage companies and individuals.” Over the years, heestate agents. Both of them came from the financial services explains that he has been able to sharpen his focus on long-industry and a structured corporate environment. They were term relationships, rather than a mindset of moving fromlooking for a company that would allow them the flexibility one transaction to the next. “The real estate business is trulyto realize their own vision and function as a team, but at the a relationship business. When interacting with clients, Isame time, provide tools and resources to foster growth. “It don’t see it as a single transaction, but more as long-lastingwas perfect timing for us to step back and evaluate which relationship.”company would better help us achieve our long-term goals,” Now that he and his team have hitched their star to KellerFraser says. Williams Realty, the Toronto-Beach/Riverdale market center In choosing Keller Williams, Fraser notes that, ultimately, it is looking forward to a long-lasting relationship as well. kw3 4 GO ABOVE AND BEYOND STAY IN TOUCH WITH YOUR PAST TO SERVE clients. Most good CLIENTS. Having your past clients work with agents seem capable of delivering you time and time again is great! What’s even 90 percent, but it is the final 10 better is when they endorse, promote and percent that sets you apart and refer you to their sphere of influence. develops long-term relationships. Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 21
  • 22. THE CITy OF KELLER(Ly) LOVE Keller Williams Realty ranks as top place to work in Philadelphia A great workplace is one that inspires its employees and provides them with a great work environment, according to Workplace Dynamics, a company that partners with leading publishers across the country to produce regional “Top Workplaces” lists. Their research shows that workers want to do work that matters, to give back, and “to be a part of something meaningful.” By Celesta Brown Late last year, Workplace Dynamics set out to survey 76,000 six categories of workplace strengths. “This confirms what we employees of 163 companies in the Greater Philadelphia area. already knew: Keller Williams is an awesome company that Included in the survey footprint were 22 Keller Williams deserves recognition throughout the real estate industry and market centers and 2,122 agents and staff. Workplace the entire business world,” McCarthy enthusiastically reports. Dynamics sent an email questionnaire to all the agents in “We have great leadership in this company and they mean those market centers with a kw.com email address and a what they say: Keller Williams is a company that puts its paper questionnaire was mailed to those without one. The agents first.” The survey results show that the agents and survey, which had 25 detailed questions, covered categories employees believe the company is doing just that. such as satisfaction, direction, career, work conditions, Ed Fordyce, team leader of the Exton (Pa.) market center leadership and compensation. Respondents rated the – the market center that was featured in an Inquirer story company by responding to statements about key workplace about the award – adds, “Its all about the agents. We are here issues. to develop individuals to be the best that they can be with In March of this year, the Philadelphia Inquirer published no ceiling. Both an agent brand-new to the business and a the results: Keller Williams Realty emerged as the highest- seasoned agent has the opportunity to grow into a leadership ranked large company in Philadelphia, trouncing other big position if they choose to or grow their real estate team to names such as Campbell’s Soup, Pricewaterhouse Coopers great heights.” and The Vanguard Group. McCarthy chimes in. “Locally, we offer affordable training “We don’t know the exact score in all the categories, but and we encourage agents to bring a recruit to training for we are told that we blew other companies out of the water!” free.” He says that there’s no for-profit training. All the says Mike McCarthy, regional director for the Greater money goes back into the market center and into special Pennsylvania Region. events for the agents. “We are constantly working to make Keller Williams Realty scored unusually high marks in all sure their costs are kept to the bare minimum.”22 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 23. All the positive energy is attracting top talent in thearea. People can’t help but be drawn to what Fordycecalls a nonstop “environment and culture of support,education and vision that is not found in othercompanies or industries.” Philadelphia’s agents and market centers are busyputting the Top Workplace recognition and logo towork. They will be using the logo on email signatures, business cards, Web pages and in marketing materialsand collateral. Reprints of the list showing KellerWilliams in the coveted No. 1 spot will be included inlisting packages and recruiting material, and a full-pagead thanking the agents for making the award happen isrunning in the Top Workplace section of the Inquirer,which has a readership of more than 2 million. “Receiving this award also validates to potentialhome buyers and sellers that our agents are happyand confident and are great to do business with,” saysMcCarthy. “Helping them leverage the Top Workplacerecognition is another way we can help them grow theirbusinesses, which is everything we are about. We just loveour agents and want to see them succeed.” kw Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 23
  • 24. PERSPECTIVE ON THE BIG PICTURE! KW Market Navigator: Vision and Opportunities 2011 encompasses Gary Keller’s vision for the real estate market, including a DVD of his Vision Speech from Family Reunion 2011 and KW Research’s market-leading studies. A powerful resource to: • Sharpen your expertise • Enhance your presentations • Build your profit share tree Put the Market Navigator 2011 to work for you right now! Special pricing for KW associates! To place your order, go to http://www.millionairesystems.com and click on KW Market Navigator24 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 25. Alliance BuildingTapping the kind of connections thatstrengthen your value propositionBy Anthony Azar, President, Strategic Business Alliances, Keller Williams Realty, Inc.Variations on the same question are we’ve established. While many real Keller Williams Strategicfrequently asked of home buyers and estate brokerages have jumped on joint Business Alliances Divisionsellers, and the answer is consistently, venture opportunities and marketing iN ACTiON!“yes.” service agreements as a means to boost A new opportunity from CitiMortgage. Clients want us to be connected and their bottom lines, we believe thatto make the home-buying process as mindset is the most important piececonvenient as possible for them through of successful vendor relationships. Thetrusted relationships with mortgage, most productive alliances result fromtitle, home warranty, insurance and an integrated, holistic view of the realclosing/escrow companies (Strategic estate transaction and the entire client As part of our relationship withAlliances). In fact, from the consumers’ relationship. CitiMortgage, Keller Williamspoint of view, the concept of “one- To that end, our focus is twofold: associates have a unique opportunitystop shopping” became increasingly • ield Keller Williams Realty’s W to help thousands of homeowners onattractive as obtaining financing and influence and leverage as the second-closing on a home became increasingly largest real estate company in the the verge of foreclosure.challenging. United States to identify best-in-class CitiMortgage has launched a providers and negotiate tailored, and marketing campaign to delinquent in some cases exclusive, benefits forThe most productive our associates’ clients, our associates mortgage holders who do not qualify to stay in their houses, encouraging alliances result themselves, and our market centers. them to consider a short sale as a • evelop the systems and models that Dfrom an integrated, market centers can use in order to solution to their mortgage hardship. optimize their individual strategic Select Keller Williams associates holistic view of alliance relationships. will now have the opportunity to be the real estate Solid strategic alliances promise positioned with these homeowners as a wide range of benefits for Keller a resource for listing and completing transaction and Williams associates, market center their short sale. leadership and the clients we serve. the entire client Our overriding caveat moving forward: consult with a RESPA attorney. RESPA To learn more, go to relationship. is a vague and complicated statute, (http://apps.kw.com/shortsale), and the alliances that are formed at and be sure to update your Keller That was the impetus behind the the market center level are subject tocreation of Keller Williams Realty’s different regulatory interpretations at Williams White Pages profile to reflectStrategic Business Alliances division the federal, state and local level. your correct designations and contactlast year, and it’s the focus that has information.driven every new relationship that Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 25
  • 26. TOP50 PRODUCING TEAMS* * BASED ON TRANSMITTALS RECEIVED FOR THE FIRST QUARTER (JAN. THROUGH MARCH) 2011. CLOSED TRANSACTIONS IDENTIFIED WITH THE SPECIFIC TEAM. Name City, State GCI Units 1 Seybert Team Henderson, Nev. $598,753.08 221 2 The Kendra Todd Group Seattle, Wash. $597,410.90 77 3 Joe Rothchild Realty Katy, Texas $539,065.71 114 4 Ben KinneyHome 4 Investment Team Bellingham, Wash. $538,775.95 126 5 Harper Sells Houses Puyallup, Wash. $447,683.94 95 6 Rushforth Team Ottawa, Ontario $443,275.17 56 7 McCarty Team Marco Island, Fla. $441,351.67 27 8 Marnie Bennett Ottawa, Ontario $415,116.35 42 9 Charlotte Thomas Team Riverton, Utah $409,819.09 89 10 Tricia Fox Group Chicago, Ill. $401,018.63 36 11 The Heller Real Estate Group San Diego, Calif. $400,569.38 32 12 The Tello Team Pembroke Pines, Fla. $397,963.43 130 13 Jennifer Young Team Chantilly, Va. $386,532.07 59 14 Mercury Alliance Colorado Broomfield, Colo. $378,511.80 65 15 The Jesse Herfel Group Mesa, Ariz. $377,318.81 155 16 D & S Team Miami Beach, Fla. $374,865.50 13 17 The Brett Tanner Team Phoenix, Ariz. $369,917.25 126 18 Rhodes Team Dallas, Texas $367,479.77 60 19 The Marshall Group Salt Lake City, Utah $364,538.09 79 20 The Hardy Team Prescott, Ariz. $364,034.44 108 21 The Sue Adler Team Summit, N.J. $363,213.25 20 22 Carol Royse Lifestyle Team Tempe, Ariz. $356,487.72 113 23 WestOne Properties LLC Portland, Ore. $355,251.13 46 24 The Capalbo Group Manassas, Va. $344,586.88 38 25 Kevin Blain Team Visalia, Calif. $340,895.81 98 26 Kenny Klaus Team Mesa, Ariz. $332,646.43 95 27 Bizzy Blondes Marina del Rey, Calif. $330,591.86 20 28 Legacy Asset Management San Antonio, Texas $321,751.54 94 29 Philbeck and Associates Orlando, Fla. $317,866.29 131 30 Brenkus Team Henderson, Nev. $315,782.35 91 31 The Kink Team The Woodlands, Texas $311,172.54 18 32 Big City Properties Katy, Texas $310,705.59 99 33 Christine & Walter Delgado Tampa, Fla. $293,693.44 122 34 Cesi Pagano Team Mission Viejo, Calif. $290,841.51 30 35 Team Michael Rancho Mirage, Calif. $287,989.37 54 36 Home Resource Group Cedar Park, Calif. $286,129.62 59 37 The Norberg Group La Mesa, Calif. $284,144.84 19 38 Eng-Garcia Washington, D.C. $281,386.23 25 39 Kirby Properties, Inc. Reno, Nev. $278,086.33 92 40 The Got Real Estate Team Fort Collins, Colo. $269,166.86 62 41 Core Group LA Los Angeles, Calif. $267,349.08 13 42 The Monaghan Group Glendale, Ariz. $265,260.75 134 43 The Stephen Cooley Team Fort Mill, S.C. $263,355.55 51 44 The Ida Terbet Team Raleigh, N.C. $262,898.87 28 45 The Jan Richey Team Frisco, Texas $261,389.50 17 46 Bocage Team Fremont, Calif. $257,698.25 38 47 The Elias Team Temecula, Calif. $256,838.50 18 48 McCormick Team Palo Alto, Calif. $254,277.19 6 49 The Rugolo Team Scottsdale, Ariz. $252,373.43 80 50 Team Dettman La Quinta, Calif. $247,080.00 1926 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 27. TOP15 TOP10 STAKEHOLDERS** **AGENTS WITH THE MOST GROWTH AT THE FIRST LEVEL OF THEIR PROFIT SHARE TREE. FIRST QUARTER (JAN. THROUGH MARCH) 2011 Agents Name Region Market Center Sponsored 1 Jose Fleming Florida-North Southwest Orlando 32 2 Dulce Harris Texas-South Signature 19 3 Linda Avery Southeast Atlanta - Perimeter East 17 4 Shawn Kelsey Greater - Heartland St. Charles, Mo. 14 5 Franci Morrione Greater - Pennsylvania Blue Bell 11 6 Tracy Jennerjohn North Central Elm Grove 10 7 Barbara Tattersall New England Bedford-Manchester 8 8 Sondra Parker Ohio Valley Cincinnati-Hyde Park/Mariemont 8 9 Randy Cooney Southwest Scottsdale - Southwest 7 10 Kathleen Rita Kelly Greater - Pennsylvania Media 6 ***CALCULATED BASED ON ANCILLARY AND TAX-ADJUSTED PROFIT. FIRST QUARTER (JAN. THROUGH MARCH) 2011 MONEYMAKERS*** Ancillary and Market Center OP TL MCA Tax-Adjusted Profit 1 Roseville Wayne Hall p Patrick W. Woods Chris Apsley $145,640.20 2 Bonita Springs Jim Murphy p Joe Harris Niki Zenczak $115,035.61 3 Austin Southwest Mary Tennant p Diane Johnson Sherie Pfister $105,900.23 p Melanie Kennemann 4 The Woodlands Judith Hopkins p Diane Flicker Christopher Webster $89,273.16 5 Hollywood Hills Rick Dergan p Gary Reavis Carmen Guevara $84,449.24 6 Greater Portland Dottie Bowe p Katie Manchester Sharon Kimball $79,830.33 7 Grand Rapids East p Karol Cooley Jon Jackson Lynne Heinz $79,364.97 8 Austin Northwest Mary Tennant Gene Frederick Linda Timmerman $77,995.88 9 Heritage Mark Willis Craig Owen Anna Reiswig $75,398.07 10 Toronto-Beach/Riverdale p Diane Mitchell p Dan Corcoran Jeannette Seguin $72,704.76 11 Houston Katy Gayle Huffman Fred Wright Echo Guo $70,227.12 12 Bedford-Manchester Alan Rice p Mark Mulcahy Debi Levine $67,256.94 13 Charlotte - South Park Ed Arrington p Amy Hawke Star Waddell $64,272.51 14 Bucks County South p Paul Allen Debra Breen Dawn Myers $59,874.39 15 Bayside, Queens Louis Cardenas Allison Gambone George Herrera $58,737.03 ****CALCULATED BASED ON KW OWNER PROFIT. FIRST QUARTER (JAN. THROUGH MARCH) 2011 MONEYMAKERS**** Market Center OP TL MCA KW Owner ProfitTOP15 1 Roseville Wayne Hall p Patrick W. Woods Chris Apsley $105,026.30 2 Atlanta - Sandy Springs Shaun Rawls p Steve Kout Kenneth Gardner $84,355.56 3 Bonita Springs Jim Murphy p Joe Harris Niki Zenczak $82,779.34 4 Greater Portland Dottie Bowe p Katie Manchester Sharon Kimball $81,130.94 5 Austin Southwest Mary Tennant p Diane Johnson Sherie Pfister $74,363.80 p Melanie Kennemann 6 Hollywood Hills Rick Dergan p Gary Reavis Carmen Guevara $70,087.34 7 Summit Cara Moxley p Debbie Meckbach Joanne Morgenroth $68,412.42 8 Arlington Beverly Wells Smokey Garrett Holly Serben $68,308.04 9 Heritage Mark Willis Craig Owen Anna Reiswig $63,668.07 10 Ballantyne Area Brenda Benson p Ann Yountz Lynn Davis $63,636.71 11 Grand Rapids East p Karol Cooley Jon Jackson Lynne Heinz $63,428.91 12 Charlotte - South Park Ed Arrington Amy Hawke Star Waddell $61,872.51 13 San Antonio IH-10 Mark Willis Wendi Harrelson Bruce Mays $60,058.64 14 Toronto-Beach/Riverdale p Diane Mitchell p Dan Corcoran Jeannette Seguin $59,506.84 15 Bedford-Manchester p Alan Rice p Mark Mulcahy Debi Levine $58,783.86 p Enrolled in MAPS Mastery Coaching Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 27
  • 28. Risk Management MARS IS CIRCLING yOU If you perform short sale services, make sure you are briefed on the recent ruling’s disclosure requirements By Avis Wukasch On Jan. 31, 2011, the Mortgage Assistance Relief Services lender, no upfront fees can be charged, the consumer does not (MARS) final rule went into effect. The rule is primarily have to use your services, we have to be honest in our dealings focused on companies that offer loan modifications to with the consumer, and consumers should not stop paying consumers; however, the rule also impacts real estate licensees their mortgage. who represent clients involved in a short sale transaction. If you are referring business to a "short sale expert," ensure This rule was designed to protect consumers from that they are fully aware of the MARS ruling and the specific unscrupulous people who have set out to take advantage of new disclosure requirements. Referral arrangements may consumers in distressed sale situations and requires three cause liability for non disclosure to pass also to the referring disclosures at various stages of the short sale process. A licensee. disclosure is required if a real estate licensee is advertising as Last but certainly not least in the rule, there are record- a short sale specialist or expert. This disclosure is required for keeping and other compliance requirements. advertising in any media, including print, social, video, audio, The National Association of REALTORS® (NAR) continues signage, billboard – any media. to work with the Federal Trade Commission to have our Another disclosure is required to the consumer before industry exempt from the disclosure requirement; however, at mortgage assistance services begin – as soon as an agent this writing, these rules still apply to our industry. becomes aware of the need for a short sale transaction and If you are offering short sale services, download the rule before a listing agent begins to assist a seller working with the and read it. You can find the rule on the Federal Trade sellers lender for a short sale. Commissions Website (http://www.ftc.gov): 16 CFR Part 322 A third disclosure is required at the time the licensee Mortgage Assistance Relief Services; Final Rule. You might presents the client with the lenders short sale approval letter. also want to check with your state trade association. Some All disclosures have specific language required; font size is also states have created forms for their members use, and certainly dictated in the rule. NAR has tools available. Among the points that must be disclosed to consumers: real As always, consult your attorney for advice in this matter. kw estate licensees are not associated with the government or the Avis Wukasch is team leader of the Round Rock (Texas) market center. Having recently been ranked among the 100 Most Influential Women in Real Estate, Avis currently serves as a commissioner for the Texas Real Estate Commission and is the immediate past chairman of the board for the Texas Association of REALTORS®. On the forefront of regulatory issues affecting real estate professionals in Texas, Wukasch is certified to teach continuing education and pre- licensure classes on agency, marketing, law and contracts.28 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 29. Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 29
  • 30. KW CARES GETS AMPUTEE BACK ON HIS FEET Market center rallies behind family in need By Jennifer LeClaire An avid rock climber, Marius Wells was forced to stop scaling been able to pay for the needed home renovations without the mountains when his foot became sorely infected. Having support of KW Cares. battled diabetes since age 7, the disease finally led to ulcers on “You never think it’s going to happen to you. Marius didn’t his left foot that ultimately led to the amputation of his leg seem like he had any problems, so the amputation was a below the knee. shock,” Prescott says. “It was a real blessing from a cultural “Marius was unemployed for a while,” says Melissa Wells, stand point to see all of the agents pull together and provide Marius’ wife and the MCA of the Brevard (N.C.) market meals for the family, help with childcare, and do anything center. On top of mounting medical bills, the couple faced they could to help the family out. It’s pulled us together as costly renovations to make the home livable for an amputee. a company even more. Now everybody is giving more than The Brevard market center banded together to help, says they’ve ever given before because KW Cares helped one of our John Prescott, operating principal. In addition to pitching in own.” with daily errands and hospital visits, they raised more than $1,000. Knowing that a lot more would be needed in the way ROCK ON! of financial help, Prescott suggested that Wells seek additional Marius has fully recovered. So much so that he returned to help from KW Cares. rock climbing at a church event last fall. It was his first time “We’re all well aware of KW Cares because our market getting back on a mountain, and the first time trying to hike center has a goal of raising at least $3,000 a year for the the mountain with his prosthesis. Melissa wasn’t sure how fund,” says Prescott, who serves on the KW Cares board. her husband would fare, and certainly had no idea he would “This is exactly why KW Cares exists, so I encouraged Melissa become a hero that day. to apply for a grant.” “We had two ropes going side by side and a 6-year-old boy Soon after submitting her application, the KW Cares grant went straight to the top and panicked,” Melissa says. “When arrived. he looked down, he was scared to death. Marius climbed up and brought the boy down the rocks safely. It was awesome to FINANCIAL LIFELINE watch.” kw Wells was overwhelmed with gratitude. In addition to helping to cover the prostheses and medical supplies, Wells says she isn’t sure how the family could have30 outfront Second Quar ter 2011 • vol. 8 no. 2 Keller Williams Realty
  • 31. My dear Keller Williams family,Family Reunion is a beautiful reflection ofwho we are as a company, and that’s why Ilove it so much. Never was that more truethan this year in Anaheim, Calif.From the high-energy introduction Family Reunion is a celebration of the says that the exposure to the cultureof eEdge, to our record-breaking culture of our company, and what a joy continued to increase her enthusiasm,cha-cha slide at the Red Bash, to the it was during the Cultural Summit to and when she heard that the 2010 KWinsightful general session speakers, sharpen our focus on the people who Cares Road Show with Rhett Butlerto the business-building breakouts, most notably demonstrated the many and Billy McLaughlin was coming toto the networking and forging of ways that the culture of Keller Williams the Southern California Region, shenew friendships, to the moments is being brought to life. decided to get involved – and did sheof profound inspiration – the This year, our army of Cultural ever!opportunities to know more and to Ambassadors grew by 58, signaling That one event raised more thanbecome more were all around us. $36,000 for KW Cares! In Nancy’s words: “When Billy McLaughlinSince I believe with all my heartthat getting to serve on your market "... every moment walked out on the stage, looked out atcenter’s Associate Leadership of Family Reunion the theater and said, ‘God bless NancyCouncil (ALC) is the greatest honor Dennison,’ I thought, ‘He alreadyin this company, it was a great thrill is a celebration of did when He brought me to Kellerto gather together our ALC members Williams Realty.’”from all over North America for the culture of our My dear Keller Williams family, wethe ALC Town Hall meeting. As are a company that has been blessed sowe responded to so many great company ..." richly and has accomplished so muchquestions from ALC members, we on so many levels. As we were remindedfelt ourselves privileged to be in the an increasingly powerful current of during the Inspirational Brunch on thecompany of such a strong commitment positive energy and a commitment to final day of this year’s Family Reunion,to leadership and growth. all that is good. the Keller Williams culture is simply So many of you are living up to Nancy Dennison was among the who we are. It’s the small, everyday actsthe dream that Gary Keller had many who presented a very moving of kindness and courage that define usfor the ALC, back in the very early example of the impact that the ALC and reveal even greater possibilities.days of Keller Williams Realty. He and the culture of the La Mesa/Eastenvisioned a passionate group of County market center had on her life. Yours in bringing the Keller Williamsleaders who understood that their When she joined two and a half years culture into your hearts, your marketNo.1 responsibility was to model the ago, she says that she felt so welcomed, centers and the world.achievement of their own goals – people appreciated and surrounded by positivebrimming with life, energy, a strong energy that she wanted to be a part ofdesire to lift others up, and a fire in it and contribute. She started teachingtheir belly to get their fair share of the CAMP 4:4:3 and Lead Generation Mo Anderson, Vice Chairman,gift of profit share. 36:12:3, and she attended every Mega Keller Williams Realty On some level, every moment of Camp and Family Reunion. She Keller Williams Realty Second Quar ter 2011 • vol. 8 no. 2 outfront 31