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K W R I 2010 July August

  2. 2. table of contents vol. 7, no. 4 - July/Aug. 2010 BROADEN Y O U R PERSPECTIVE KW Market 04 MARKET OF THE MOMENT A look at 06 HEAVY HITTERS Proof positive Navigator: Vision and some of the new leaders of KW Commercial’s Opportunities 2010: of the distressed property value proposition. New from KW Research! realm. • Gary Keller’s vision for the real estate market • First-time buyers • What’s selling and why 08 10 • Distressed properties THE TRUMP BRING IT ON! • PLUS a DVD of Gary Keller's 2010 Family CARD Reunion Vision Speech Lessons on winning Gary Keller on turning Cover price: $49 one step backward into KW Leadership and with the top luxury Associate price: $5 players. 10 steps forward. To place your order, go to: (http://kwu.kw.com/ kwu/marketnavigator) 22 ENTERPRISING GEN Y-ERS 30 SOUL MATES Mo Anderson Meet KW’s six new 30 and Ebby Halliday Under 30 stars. exchange wit, wisdom and winning attitudes. July/Aug. 2010 vol. 7 no. 4 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© 2010 Keller Williams Realty, Inc. Marketing and Communications Coordinator: Laura Price by Keller Williams Realty, Inc. No portion may be reproduced in whole or in part by any means, including Copy Editor: Jeff Ryder electronic retrieval systems, without the express written 807 Las Cimas Parkway, Suite 200 Design: Travis Drake permission of the publisher. Editorial or advertising does Austin, Texas 78746 Contributors: Celesta Brown | Jill Dwyer | Jennifer LeClaire | Elizabeth not constitute advice but is considered informative. (512) 327-3070 phone Millard (512) 328-1433 fax Advertising: Tom Freireich (advertising@kw.com) Copyright© 2010 Keller Williams Realty, Inc. Job Inquiries: (jobs@kw.com) All rights reserved. 2 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  3. 3. DEAR ASSOCIATES, Have you extended an invitation to someone this week to explore all that Keller Williams Realty has to offer? If not, here’s what you need to do. Start a list and make a plan NOW. Then, make another list of all the ways that a bigger stream of passive income can 5 change your life. And here’s the third thing: dream big ... Because you can. That’s what being a part of Simple Keller Williams Realty is all about. Questions In fact, nothing thrills us more than within your community, you are the TO GROW YOUR knowing that, this summer, thousands face of Keller Williams Realty. It is your PROFIT SHARE TREE and thousands of you are getting on an success, your spirit and your growth exciting new wealth-building path! that will attract your colleagues at other Our “Just Ask” theme cuts right companies to Keller Williams Realty. In 1. THE SIMPLE COFFEE QUESTION to the heart of what this year’s profit other words, your underlying strategy “Would you like to meet for coffee? I’d share campaign is all about. You are for building your profit share tree love to get to know you and talk shop.” a respected and connected real estate should be to tap into everything that 2. THE SIMPLE EVENT QUESTION professional and opportunities are all this company has to offer – enhancing around you every day to reach out to your knowledge, income and validity “Do you have a minute? Look, I called you because you were great to work your sphere of influence. Just ask one every step of the way. with. There are going to be 7,000 agents of the “5 Simple Questions,” spark So make sure that you attend every in Austin, Texas, for an event called interest and start the conversation. Your class offered in your market center – Mega Camp. I knew you would be an agent who would enjoy networking, as team leader has the training to take it especially the Grow Your Profit Share well as hearing the latest compelling from there. Tree and Wealth Building Workshop research on real estate. Top agents will share their marketing ideas, scripts, To date, 15 Keller Williams associates courses! Read and share with your dialogues and more.” have earned more than $1 million in colleagues The Millionaire Real Estate 3. THE SIMPLE BUSINESS profit share, and 23,769 associates Agent and SHIFT, become accountable CONSULTATION QUESTION have become participants in our profit to achieving your biggest goals by “My team leader is somebody you need share program. We fully expect that enrolling in MAPS Coaching and BOLD to know! You owe it to yourself to talk both of those numbers will double and and, of course, register NOW for Mega with them. Would you mind if I had quadruple in the coming years. We want Camp 2010. (http://events.mapscoaching. them call you?” you on the list, embracing profit share com). Better yet, invite a colleague from 4. THE SIMPLE TRAINING QUESTION as your No. 1 vehicle for passive income another company to join you at Mega “Our training is fantastic – you actually growth! Camp! grow your business while you’re in class! Our training, technology, culture Great things are in store for you and Would you like to attend Buyer Mastery with me?” and wealth-building opportunities far for Keller Williams Realty. exceed that of any other real estate This is our time! 5. THE SIMPLE GIFT QUESTION company in North America. We have “My team leader has one of the greatest what real estate professionals need right business-building books available, The now to grow their careers and fund the Millionaire Real Estate Agent, and I think you would love it. It made a tremendous lives they’ve always dreamed of living. impact on my business. Would you like And, most importantly, we have you Mark Willis, CEO her to call and set up a time with you to come by and get one?” on our team. Among your clients and Keller Williams Realty Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 3
  4. 4. Cover Story Mastering T H E D I S T R E S S E D P RO P E RT Y M A Z E MARKET OF THE MOMENT DEMANDS D E C I S I V E S T R AT E G I E S A N D C L E A R V I S I O N By Lisa Wahlgren For every home that’s on the market in Portland, there are another two that are owned by a bank. In Phoenix, REOs and short sales account for 67.7 percent of the housing inventory. In the first quarter of 2010, one in every 28 homes in Las Vegas received a foreclosure notice. Distressed property statistics vary dramatically from one market to another, but throughout North America, short sales and REOs have clearly entered the mainstream of real estate transactions. Here are four profiles of Keller Williams associates who are facing the market of the moment head on. In the process, they’re solidifying relationships, reinforcing their value proposition and accelerating the market’s recovery. 4 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  5. 5. Brian Gubernick, Scottsdale-Southwest market center Marketing edge: Hosts a weekend morning radio show, “Treu Real Estate 911.” Business snapshot: Sole focus on short sales. Completed 200 transactions in 2009 and is Success strategies: Come from contribution at every stage of the on track for 275 to 300 in 2010. Business process, based on empathy for all parties: buyers, sellers and is split into two entities: One takes short bank negotiators. Master negotiation skills, earn the respect of sale listings and sees them through to close, key players, don’t accept a “no” when the answer should be “yes.” the other negotiates with banks on behalf of Banks know when they are working with an experienced agent. other agents’ short sale listings. Market perspective: Transaction time frames are shortening. Market perspective: Increasing trend toward “strategic Recently closed a short sale in seven days and three others defaulters” – homeowners who are financially able to make their in 30 days. Smaller banks, which are not as inundated with payments, but are underwater on their mortgage and choose to requests, are able to move faster than larger ones. Knowledge and walk away from their mortgage due to a perception that they’ll negotiation skills speed the process. never recoup the value that was lost during the shift. In the Phoenix market, short sales and even foreclosures have become Mandi Ross, associate, Phoenix/Goodyear market center far more socially acceptable than a few years ago. Business snapshot: 102 transactions closed Key success factor: Built a team based on the experience that in 2009, 99 percent of which were REOs lead generation and taking listings is a separate skill set from and short sales. 67.7 percent of market negotiating with banks. Focuses on negotiation, leveraging in- inventory is distressed properties. Close rate depth knowledge of the various players, policies and systems at for short sales is 89 percent. Moving toward various financial institutions. a sharpened focus on short sales. Adrienne Gillis, associate, Bothell (Wash.) market center Why short sales?: The opportunity to build relationships for life by serving as a consultant and adding Business snapshot: Focused on REOs for the enormous value. past 15 years. 99 percent of business is REOs. Completed 101 transactions in 2009. Market perspective: Bank-owned inventory is down to a three- month supply from 13 months a year ago. Investor demand for Market perspective: 2010 has seen a bank-owned properties has increased, due to dwindling supply. slowdown in new assignments, partly due The market’s average short-sale close rate has increased from 13 to greater cooperation from banks on loan percent two years ago to 46 percent today, due to improvements modifications and short sales, but another in bank systems and infrastructures. wave of foreclosures is anticipated. Key success factors: Constant education, systems that ensure Advice to prospective REO specialists: The playing field, which optimal leverage of team resources, selective acceptance of was once limited to a select few, has opened up. Banks are much listings, consultative approach with clients concerning what’s in more willing to work with newcomers. their best interest. kw The best strategy for breaking into the business: Get your name out there. Do massive numbers of BPOs. Looking to learn more? Key success factor: ALWAYS be a part of the solution, Short-sale aficionado Knolly Williams, associate with determined to tackle anything that comes up with the attitude the Austin Southwest market center, kicked off Keller that it’s never a problem. Williams Agent to Agent Market this year with his 7 Days to Success with Short Sales Toolkit. Lisa Treu, associate, Boynton Beach (Fla.) market center (http://agenttoagentmarket.com). Business snapshot: On track for 100 Bring buyers up to speed on the facts. Opportunity is transactions in 2010. Along with husband, Knocking: Your Guide to the Ins and Outs of Finding a Good Steve, runs a team whose business is 70 Deal in Today’s Market is available from the Marketing tab on (http://mykw.kw.com). percent short sales. Close rate stands at 98 percent, allowing for the fact that when The KW Market Navigator 2010: Vision and Opportunities buyers fall out of a short sales transaction, presents a research-based resource for navigating the the sales cycle starts over and the deal is current market – and includes an entire section on submitted a second time. distressed properties. (http://kwu.kw.com/kwu/marketnavigator). Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 5
  6. 6. KW Commercial THE PROOF IS IN THE PEOPLE INDUSTRy HEAVY HITTERS SEE UNIqUE OPPORTUNITY IN KW COMMERCIAL Photos By: Sara Kerver Larry Locke Butch and Rhonda West By Celesta Brown and Lisa Wahlgren The Austin-Southwest market center’s recent infusion of top give back, and be part of a team that feels like family. Rhonda commercial talent is sending a big message out to the market: and I can make a difference here.” KW Commercial has arrived. Joining Rhonda and Butch is Larry Locke, another heavy Drawing on her 31 years of experience in commercial real hitter who brings more than three decades of insightful estate management, leasing, sales and acquisitions, Rhonda industry knowledge to his new role as KW Commercial West, associate, is spearheading training and education. “We director. At his previous company, he developed a land see a paradigm shift in the commercial real estate industry. brokerage division throughout central Texas and had amassed The KW Commercial business model is appealing to people more than 40 listings – 5,000 acres’ worth – in the four years who have been on their own and are now in need of more he was with them. As a testament to the strength of the support and training.” relationships that Locke forged with his clients, all his current Rhonda’s husband, Butch, is equally excited about joining listings have come over to KW Commercial with him. KW Commercial. Having flown solo and affiliated with some Locke’s particular strength is forecasting and trend spotting. of the top commercial brokerages in the business, Butch and It’s second nature to him to look for undeveloped areas where Rhonda were looking for new opportunities and outlets to use expansion and growth are forthcoming. Over the years, he’s what they have learned to benefit others. Lately, they’ve been worked for companies, been on his own, spent time working volunteering almost half of their time, working for the CCIM on brokerage financing overseas, and worked in all parts of (Certified Commercial Investment Member) Institute and real estate sales from shopping malls to office parks, but he other organizations. “We have a lot to give,” Butch says. “KW always gravitates back to land brokerage. Commercial provides us a platform to share our expertise, He was attracted to Keller Williams Realty because of the 6 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  7. 7. competitive compensation structure and the myriad of opportunities to enhance his career that he’s not been able to find elsewhere. As a new division, KW Commercial is Phone KW Commercial seeking people who are steeped in the business and have experience growing a company from the ground up. Locke emphasizes that it’s important to draw clear- cut lines between commercial and residential. “They are POWER wholly different,” he says. Because the shifted market hasn’t fully impacted the commercial side of the business, The growth of the Austin- yet, he says residential agents are curious about moving Southwest market center’s into commercial, thinking there are huge commissions. commercial division has But he warns that it often takes years to get to closing. For this reason, Locke is interested in guiding and mentoring relied on the oldest promising commercial agents. technique in the book: “Commercial brokerage is a slow business; the attrition is cold calling. substantial. You have to have a support system, and I want to develop and lead training endeavors that will assist new First there was brokers on their journey to success.” He acknowledges that the call last year from the Keller Williams team culture will give commercial agents Assistant Team Leader a considerable competitive advantage. “Everyone at Keller Williams is so willing to lend a hand, which is refreshing Eric Copper, to Eden because that’s not usually the way it is in the land brokerage Box, urging the Austin- business.” Photos By: Sara Kerver area real estate icon out Nowhere was that more apparent to Larry, Rhonda and Butch than during their trip to Family Reunion this year, of retirement to ser ve as prior to signing on with KW Commercial. “I talked to the commercial division’s so many people and I never got one negative comment. director of development. Everyone was happy,” Rhonda says. kw Eden Box “Once I signed on, I star ted doing some research about the people I thought would be wonderful additions to our commercial division, and Rhonda West’s name kept coming up, so I called her and we agreed to have lunch.” It was around that same time that Gary Gentry, associate at the Austin Southwest market center, contacted Larry Locke whom Gentr y had known for years. That set the wheels in motion for him to join forces with the company. Rhonda and Butch’s credentials and their CCIM leadership speak for themselves, Box notes. “What isn’t as well known throughout the industr y is how much fun they are. They were both ver y successful in their businesses, and it took a while to persuade them that this would be even more fun.” Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 7
  8. 8. Photo By: Ron Murray Sandra Callen and Linda D'Ambrosi CACHET AND CONFIDENCE: W H AT I T TA K E S TO L A N D F O U R T R U M P L I S T I N G S BY JENNIFER LECLAIRE Linda D’Ambrosi ventured into real estate seven years ago This newly-minted luxury home agent got plenty of advice with a big goal: to work with Donald Trump. But it wasn’t from her team leader and from the leadership at Luxury Homes until she signed on as a member of Luxury Homes by Keller by Keller Williams before meeting with Trump. The advice she Williams at the L.A. Harbor market center that she finally received gave her the confidence to go into the meeting boldly. landed that Trump deal. D’Ambrosi knew she had an entire team behind her, even D’Ambrosi and her partner Sandra Callen represent The though she had yet to meet them. Estates at Trump National Golf Club in Palos Verdes, four “If you take the free classes the division offers and combine grand estates on the Palos Verdes Peninsula. Prices of the it with all the tools that are available, the impact is amazing,” exclusive properties range from $3.4 million to $12 million and she says. “The Platinum Sales Systems Website, one of the offer private, coastal living just outside of Los Angeles. preferred partners of the division, is very effective. The The homes range from 6,000 to more than 15,000 square mastermind luxury group, where you can speak with other feet and include access to the luxury golf club with its 45,000 luxury agents throughout North America, is incredible. There’s square-foot clubhouse. no other real estate company where agents are so willing to After spending most of her professional career as a paralegal, share advice.” D’Ambrosi has become a rainmaker in the luxury real estate D’Ambrosi considers the Luxury Homes by Keller Williams' market. Her philosophy: “Get it done now!” Her mission: arsenal of training and tools to be key to the success of her “Help all parties in a challenging real estate transaction business, and she notes that the division is constantly building accomplish their goals.” Her mantra: “It’s not one person who new resources for members. creates success; it’s everyone around you.” Currently, she says that 80 percent of her time is “When I went to talk to Mr. Trump, I was very secure in concentrated on Trump properties. Callen, works in the my mind knowing that I would get the deal even though I had $1-million to $4-million range that D’Ambrosi calls the “bread never sold $4-million or $10-million or $12-million homes and butter.” The duo both target foreign buyers looking for before,” D’Ambrosi says. “Because I had just joined Luxury oceanfront homes. Homes by Keller Williams to position myself in the luxury “Many of our clients come from Asia, and it’s a whole market, I was able to tell Mr. Trump that I was a luxury home different sphere of influence,” D’Ambrosi says. “People with agent.” money will always purchase if it’s the right spot.” kw 8 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  9. 9. NeW MeMBeR BeNefit! Exclusive access to Keller Williams Realty's new luxury listing magazine RETREAT & REC HARGE! 3rd Annual Luxury H Members of Luxury Homes by Keller Williams are now able omes by Keller William to provide clients with a marketing advantage that firmly Don’t miss this po s Retreat wer-packed comb demonstrates the benefit of the company one keeps! Developed of networking, sup ination in conjunction with Unique Homes, members’ listings will be erstar panels, exp economic overvie er t exclusively featured in the publication and added to the Unique ws and fun! Sept. 16 – 18, 201 Homes Website, which is syndicated to 30 partner sites and 0 Experience brand placed on the digital magazines for both Luxury Homes by new flagship Westin at Keller Williams and Unique Homes. Options include quarter- the Domain! page, half-page and full-page ads. For more information visit Register at: http://kwluxuryh (http://kwluxur yhomes.com). omes.com CO MMER CIA L FOCUS PA L M S P R I N G S V E N T U R E M A R K S N E W C H A P T E R F O R L U x U Ry H O M E S B y K E L L E R W I L L I A M S A N D K W C O M M E R C I A L Visitors to the La Quinta market center’s new business center that when markets shift you need to anticipate the change and near Palm Springs, Calif., are in for a treat. With a sharp focus switch strategies. We saw a shift coming to more luxury home on luxury and commercial properties, “The environment is a sales, and we wanted to be positioned to fully leverage that blend of elegant hotel lobby and spa, kind of like a resort,” says opportunity.” KW Commercial has also been folded into the mix, Michael Hilgenberg, a founding director of Luxury Homes and Hilgenberg anticipates that commercial activity will account by Keller Williams and the operating principal of the La Quinta for approximately 10 percent of sales. “It’s an important selling market center. point,” he explains. Plans for the center kicked off in December 2009 during a ALC member Linda Baughman adds, "We’re anticipating joint Associate Leadership Council (ALC) planning session in an upward spike as the business cycle advances. The Coachella which associates noted the need to raise Keller Williams Realty’s Valley is a well-known haven for the rich and famous, and this is stature among luxury and commercial clients in the Coachella the perfect time to position Keller Williams as the luxury home Valley. "We wanted to follow what Gary Keller teaches, which is leader." kw Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 9
  10. 10. Bring It On … TB ACKS, SHIF TS, OBSTACLES SE at it. All a matter of how you look iams Realty an, Keller Will r, co-found er and chairm By Gary Kelle 05, and quarter of 20 h time aro und the final red into a toug cession business ente n. Then the re te that there w as no recessio The real esta ssion is over. , we were told that the rece two years that followed soon to hear for ears that we are d. The tic turnaroun ial, and it app ect a drama became offic ny of us to exp e next five or six years, ry naïve for a it would be ve ars, possibly th The fact is, couple of ye at mean to us ? e for the next what does th ironment for you and m right now. So env ugh as it is tty much as to is g oing to be pre confine us. Nothing. ent define or of this g to let the environm , “If you think e aren’t goin ns, once said Because w and theologia intolerable. O n the vorite authors u'll find it quite one of my fa yo C.S. Lewis, ur happiness, s not so bad.” d simply for o correction, it’ orld as a p lace intende f training and w this as a plac eo doing what if you think of sy, commit to other hand, ct it to be ea is to not expe me. The trick In fact, it c an be aweso thing you tantly learn. you do every hard and cons to be hard and it takes, work ething is goin g are also you think som but then there e how when be the case, Ever notic That tends to e don’t get to choose being easy? are, it ends up bad breaks. W can to prep od breaks and "breaks" – go spond. these thing s in life called re going to re ct is, every t to cho ose how we a breaks. The fa our breaks, but we do ge te d by the bad r even defea emoralized o It’s so tem pting to be d ither go up o r down. portunity to e rrific. The an op and it was ho break is an opportunity – market litera lly collapsed company the real estate bankrupt. Our In 1986 in Austin, Texas, r in Austin went home builde nd my recep tionist, ny and No. 1 No. 1 real e state compa le walked out, a was down my top peop d no staff and ciates. Six of ited away. I ha 72 to 40 asso went from tor were recru t we call a tion coordina n. That’s wha bookkeep er and reloca had ever see e toughest m arkets Austin d go against s in one of th that or I coul to 33 agent ke: I could e ither go with t this time ecision to ma iness. It was a bad break, and I had a d was doing bus ue the way I or just contin s Realty was created. it. I could re invent myself Keller William as on’t feel like we now know ks, they just d ompany that as good brea that the c an opportunity s, but to poin t out that e as much of deny hardship Bad bre aks tend to b minimize or t saying this to it at the m oment. I’m no Marnie Bennett 10 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  11. 11. Bring it On great live s are truly overcom defined, e. Withou if not cre t Goliath ated, by , there is the chall History’s no David enges th most nota . at they discoura ble winne ged by th rs won be eir defea cause th – they fa ts. They d ey refuse iled their idn’t suc d to bec way to su ceed the ome In other w ccess, an ir way to ords, if yo d that’s e success that it ca u don’t h xactly ho n be. ave any w it work difficultie s for us. s, your life Everybod will not b y fails be e all after the fore they y fail. Na succeed poleon H , but not he’s exac ill said, “Y everybod tly right. N our attitu y succee o one an de is the ds somethin d no circ most imp g that yo umstanc ortant th u control. e can fo ing in you Sir Winsto rce you to r life,” an n Church change d no loss o ill once sa your attit f enthusia id, “Succ ude. It’s sm.” ess is the Isn’t it am ability to azing ho go from o w the mo ne failure failure? st accom to anoth plished p er with So what eople in is it that se history te nd to be I think it c parates th so familia omes do e losers fr r with wn to vis om the lo easier to ion. Those sers who accept fa whose liv keep on ilure as a es are dri trying? I am in n tempora ven by a o way ad ry, short-t higher vis offended vocating erm setb ion tend and put a Polly A ack. to find it off by pe nna app fake. I ad ople who roach to vocate a life beca have a “ use I pers determin positive a positive a onally am ation to n ttitude, b ttitude” th ot be de ut only if at is clea feated b it’s reinfo rly very Every we y immed rced by e ek, I get iate setb ffort that to say th to talk to acks. is real an at Keller agents w da Williams R ho have compan ealty see stared do y of peop ms to att wn huge le who h ract these obstacle similar th ave face kinds of in s, and I’m read tha d all kind dividuals proud t runs thro s of setba . We’re in and ofte ugh the st cks, and the n wealth ories of th there ten ier – peo ose who ds to be “Big Why ple. They have triu a very ”; they d decide to mphed a on’t ente conquer s better, can con rtain failu their fears stronger trol are th re as an ; they ge – eir attitud option; th t in touch power th es and th ey realize with their ey actua eir action that the lly have. s and, in only thing Life at its doing so s that the best is a , they tap y moved fo learning into how rward. opportun much ity – an a dventure to be live d, learne Onward d from a … nd Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 11
  12. 12. The Next Step Big Names BIGGER P OT E N T I A L KELLER WILLIAMS REALTY PROVES TO BE THE PLACE FOR TOP AGENTS WHO ARE LOOKING FOR MORE Keller Williams Realty is on the radar screens of the industry’s best and brightest like never before ... and for good reasons: time- tested business models, industry leading technology, the industry’s best training, coaching and wealth-building opportunities, and a culture that’s focused on improving communities – and the people within them. Recently, three real estate luminaries joined Keller Williams Realty. They were inspired by the company’s innovation and success and see Keller Williams Realty as the best next step in their careers. Here’s why they made the switch: closing table – 65 percent higher than the national average. As Ed Goldfarb, a distressed property expert, he regularly shares his knowledge associate, with local and national media outlets, including USA Today, the Pembroke Pines/Miramar (Fla.) The Miami Herald, The Sun Sentinel and National Public Radio. market center Rita Polit, team leader of the Pembroke Pines/Miramar For nearly 20 years, ed market center views his media presence as a by-product of the Goldfarb has been a real estate degree to which his clients respect him, as well as his “tenacity icon in Florida, racking up top and passion for helping others. He’s an example to our entire achievements year after year with industry. " RE/MAX. He has reached a On May 1, 2010, his entire team – two buyer’s agents, an staggering number of career sales: administrative assistant and a mediator for short sales – joined 1,540, with 43 of those in the first the Pembroke Pines/Miramar market center. half of 2010. Goldfarb was never one to seek designations, Goldfarb estimates the switch will translate into an but several years ago he had the vision to seek the Certified additional $25,000 to $30,000 in his pocket every year. He Distressed Property Expert (CDPE) designation which proved anticipates that he’ll double or even triple his sales and is to be critical. Since then, he has become a leading voice on confident that he has sided with a company that can support short sale reform and a master of the market of the moment. him and help make it happen. On average, 95 percent of his short sales make it to the the opportunity to hear Gary Keller Jim Kaemingk, associate, speak and realized “they knew what Bellingham (Wash.) market center they were doing.” He joined the As a top-producing Windermere Real Estate agent in the Bellingham market center shortly Northwest, Jim Kaemingk was often solicited to join other thereafter. firms. He was happy where he was and wasn’t looking to make a Chad Hyams, team leader, says, move. “Jim has brought a powerful energy That all changed when Ben Kinney, operating principal of the to our office.” Bellingham market center, gave him a copy of SHIFT: How Top Kaemingk says he is impressed Real Estate Agents Tackle Tough Times. He says that the powerful with the team emphasis at Keller messages in the book really resonated with him. He’d had at Williams Realty. He didn’t have that least five years of unbridled success before the market began to before and finds the positive energy change. When he read the book, “the light came on.” He realized translates easily to clients. With he had to shift his mindset and his business. more than 40 listings, the transition from Windermere seemed Soon after, Kinney and Kaemingk went to MAPS Coaching's insurmountable. That wasn’t the case; Kaemingk has doubled his Masterminds together in Austin, Texas, where Kaemingk had listings in about six weeks. 12 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  13. 13. Big New Recruits Mike Mazyck, 4) He was already using The Millionaire Real Estate Agent models. Amber Boyd, team leader of the Rockwall market associate, center, says she was thrilled to discover that Mazyck had already Rockwall (Texas) market center put the MREA models to work for him. “In 2009, our office For several years running, Mike had a Business Planning Clinic and a Mega Agent Panel. Mike Mazyck has been the No. 1 agent agreed to sit on the panel, and I was amazed when I listened to in the Rockwall, Texas, market. his answers to learn that he ran his business by following The He has spent all of his seven Millionaire Real Estate Agent models! I thought, ‘WOW, why isn’t successful years in the business this guy with KW?’ After months of talking and networking at Coldwell Banker, but recently together, Mike and his team of six joined the Rockwall market joined the Rockwall market center, located outside of Dallas. center." He’s very clear on his reasons for doing so: “When I am talking with new talent, I am looking for 1) He wanted to have control of his business. someone who can produce, and more importantly, someone with “At Keller Williams, all of my business is mine. As I grow it, I great leadership skills who is a fit with our culture. Mike met all need to know I’m doing it for me.” of those qualifications and then some." Boyd says. 2) He wanted to have his own phone number on his "for Dee Dee trosclair, the regional director of the Texas-North Sale" signs. Mazyck explains that, previously, his "For Sale" and New Mexico Region, couldn’t agree more. “Having Mike in signs had the broker’s office number on them. Now that his own our Keller Williams family in North Texas has helped solidify contact information is on his signs, he’s in a better position to the strong market presence we have developed in the last few manage the leads. years. He is an example of the validity in our agent-focused 3) Keller Williams Realty is open to out-of-the-box model. Mike built his team using the MREA while he was at his thinking. Mazyck says he feels more at home with the former company, again reinforcing that our systems and models motivated, ambitious agents at the Rockwall office and he’s eager work. We’re glad he came to the source to build the rest of his to put some nontraditional ideas into action. bright future!” ® Only $10/mo* for Agents Only $20/mo* for MCs Increase Repeat & Referral Traffic Generate More Leads Close More Business Gain a Competitive Advantage Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 13
  14. 14. W I L L YO U B E A M O N G T H E BEST OFTHE BEST! Gary Keller is taking the networking up a notch this year with a look at the very best strategies and systems in the business. Ever wonder what ranks as the real estate industry’s: • BEST Internet site • BEST Seminar Approach • BEST Craigslist Approach • BEST Pre-list Package • BEST Social Media Approach • BEST Leverage • BEST Farming • BEST Organization Approach • BEST Open Houses • BEST Approach for Working with Buyers • BEST FSBO/Expireds Approach • BEST Short Sales Approach • BEST Referral Approach • BEST Wealth Building Through Profit Share S: my award-winning Christopher ChroGa, rwyillKpeellrfeorrm live, PLUGram ss . The rview wit onstage inte followed by an LE LOT MOative, RE! O THIS AND AhwHises to be the most inform for w at prom ! amp EVER Register NOW irational Mega C insp idea-packed, and oaching.com http://events.mapsc Mega Camp 2010 Austin,Texas Mega Agent Camp Sept. 15-16 Mega Leadership Camp Sept. 13.14 Mega Tech Camp Sept. 14 MEGA CAMP 2010 | SEPTEMBER 13-16 AUSTIN CONVENTION CENTER |AUSTIN,TEXAS REGISTERTODAY! HTTP://EVENTS.MAPSCOACHING.COM 14 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  15. 15. BOLD and Beyond MAPS Coaching The LOgicaL nexT sTep fOr many high achievers: Maps MasTeRy COaChing! Tim Heyl A full year after graduating from the intensive The nuMBeRs coaching experience, BOLD alumni report that they are still going strong with the mindset and the success habits that BOLD TeLL The STORy! set in motion. Among them: Tim heyl, associate with the Austin-Southwest market center. During the first 12 A rookie and recent college graduate at months of BoLD: June the time he enrolled in BOLD, heyl laughs openly when asked what his career and GCI 2009 through may 2010 would have looked like had it not been for BOLD. … “When I got into real estate, my goal was to make • 10,342 participants $100,000 a year, but I had no idea how I was going to do that,” heyl says. That’s where BOLD came in. "Because of BOLD, i have a enrolled in BOLD during structure to my day and i know what it is that i need to do to achieve my goals." 100 separate sessions. heyl managed to sell 16 homes during his first 12 months in the business, resulting in a GCI of $111,000. “in BOLD, i learned that my no. 1 job was to get the business, and i know that if i • Number of contracts haven’t made a set number of calls in a day, that i haven’t actually worked. it’s all about the constant inflow of business taken during the program: – not hoping to get lucky or land one huge listing.” excited about enrolling in BOLD again next time it’s offered in Austin, 72,863! heyl says he finds it sad to see how some people in the real estate business struggle. “They don’t realize how easy it is to make money.” W h AT ' S N e x T f O R B O L D ? BOLD Revolution! Starting July 18, 2010, follow four BOLD participants’ breakdowns and breakthroughs, reality TV BOL D fOR L e aDe Rshi p! style, during their eight-week Launching Sept. 14, 2010 at Mega Leadership in Austin, Texas. BOLD Journey. (http://apps. “I want every leader in our company to take this course!” Mary Tennant, President and COO, Keller Williams Realty. kw.com/bold-revolution). Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 15
  16. 16. RED Day Dear Team, RED Day is now an entrenched part of our culture, and it’s one of my favorite days of the year. Here at our International Support As we got in our cars and drove back Center, where the concept of RED to our homes on May 13 – along many Day was born, bred and embraced, newfound blisters and sore muscles – nearly every one of us – 150 in total we were reminded how powerful we – participated this year. Along with are as a team. And the best part of all: associates from other Austin market the realization that tens of thousands centers, our RED Day initiatives ran of you at nearly 700 market centers the gamut. We picked up trash on a throughout North America had also hike-and-bike trail; painted murals; gotten together as a team to have a landscaped and put on a party at a significant impact on various corners children’s home; of your communities. spruced up an That’s what being Witnessing the animal shelter; a part of the Keller rehabbed a local many ways that Williams family is all theatre; put up a about. As Mark Ozman, cedar log fence; we responded to associate with the planted and Indianapolis/Carmel cleared trails at community needs market center, wrote in a biodiversity an article that appears site; and got a was a wonderful on page 29 of this issue, children’s hospital “RED Day isn’t about set up with privilege. cleaning up a park. It donated formal is a one-day expression dresses, shoes and accessories in of what happens 24/7 in the Keller preparation for the Cancer Ward’s high Williams culture. It is seeing a need, school prom. discovering who can meet that need Spouses, children, guests and and then getting it done.” prospective associates joined the fun. Well said, Mark. I couldn’t agree with It could not have been a better day. you more. To witness the many ways that we responded to community needs Yours in living the Keller Williams and to be able to take part in so culture, many different service projects was a wonderful privilege. The community took note: local newspapers and TV stations covered us, and prospective Mary Tennant agents got to experience the Keller President and COO Williams culture firsthand. Keller Williams Realty 16 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
  17. 17. Tech Tips PUT YOUR BEST FACE FORWARD N E W “ F I N D A N AG E N T ” S E A R C H TO O L O N Cary Sylvester K W. C O M G I V E S yO U T H E O N L I N E E D G E – J U S T B E S U R E yO U ’ R E N OT C A M E R A S H y AGENT SEARCH By Cary Sylvester, Executive Director of Technology, Keller Williams GO! Realty International Support Center Online personalities can have a lot of clout these days, and to your local online outlets. whether online or off, you are the brand that matters. You are your own brand and, as such, you are in control Last year, when we began laying out the blueprint for the of your KW.com agent profile. Make yours as simple or as new KW.com, the most important goal behind the site was robust as you’d like. It’s up to you. Just remember, the more delivering more leads to our associates. While resources on keyword-rich content you add to your profile, the more buying and selling homes are readily available on KW.com, likely you are to be found by a consumer or agent searching it is you, the agent, who acts as the interpreter. Real estate for someone with your expertise. kw is a local business and you are the face of that business – which leads to me to one of the more exciting features on the new KW.com: the “Find an Agent” search tool. H O W TO B U I L D YO U R This capability has been refined to the point that K W. C O M A G E N T P RO F I L E consumers can search for an agent based on any number of criteria: location, industry designations, certifications, 1. Start by logging into MyKW through languages spoken, or specific areas of expertise such as green homes, investment properties, short sales or first-time www.kw.com. home buyers. Once the consumer lands on an agent profile 2. Once logged in, click on the link for the White page, they see that agent’s contact information, current Pages under your photo on the left-hand side. listings, any additional information added by the agent and, 3. When the White Pages open, click on My Profile, ideally, the agent’s current photo. then go back and click on My Referral. So how do you ensure that consumers find you when 4. There are six items of information needed: they are searching for someone whose expertise and market A. My Profile: Upload Agent Photo, Biography, matches yours? Update your agent profile! Email, Cell Phone, Text Messaging The best place to start is with an updated photo. So many B. My Referral: Languages Spoken, Specialties, times I see agents upload outdated photos, or worse, no Designations photo at all. In an age when your online profile has power, 5. Be sure to save your updates! a picture that reflects you are on top of necessary details is 6. Now when consumers search for you on the critical. new KW.com, they will see a more complete and Once you’ve uploaded your photo, be sure to include informative representation of you! relevant biographical information along with your specialties, designations, certifications, languages and any For detailed video instructions, log on to the niche markets you serve. Are you on Facebook, Twitter? Do intranet (http://mykw.kw.com) and click on you have a Website? Add that to your profile to drive traffic KWConnect under the Education tab. Keller Williams Realty July/Aug. 2010 • vol. 7 no. 4 outfront 17
  18. 18. Risk Management IS SELLER FINANCING GOING THE WAY OF T H E D I N O S A U R ? UNINTENDED CONSEqUENCES OF THE SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT OF 2008 ARE SHEDDING NEW LIGHT ON SELLER FINANCING By Avis Wukasch The Secure and Fair Enforcement the money to purchase. Some attorneys for Mortgage Licensing Act of 2008 interpreting this law also believe the (S.A.F.E.) was signed into law in July buyer broker/agent who assists a buyer in of that year by then President Bush. negotiating the terms of a seller-financed The intent was to create oversight of transaction would also be subject to mortgage loan originators and have some licensure, although the rules are not clear regulation over who could assist a buyer on this for everyone. in obtaining what is, for most, the largest Another unintended consequence of this loan they will ever have. The Act requires Act is its effect on Habitat for Humanity registration, education, background checks – an organization which Keller Williams (fingerprinting) and testing in order to Realty supports all over the country. All become or to continue as a loan originator. Habitat for Humanity loans are “seller The stated purpose: “increase uniformity, financed.” Currently, Congress is working reduce regulatory burdens, enhance on this financing situation – with bills that consumer protection and reduce fraud." are before both the House and the Senate. By now, each state should have passed Although this legislation is currently stuck enabling legislation in order for this Act to in committee, there could be an outcome be enforceable in the states. by the time this article is published. Now why wouldn’t all this be great? So what do you need to do? Find out For the most part it is, but be aware of what your state has done or is doing to the unintended consequences of the Act. implement the S.A.F.E. Act, and contact It covers anyone who takes a residential your state’s REALTOR® association and mortgage loan application and offers or find out where you stand if you have a Avis Wukasch is team leader of the Round negotiates terms of a residential mortgage proposed owner-financed sale. If you Rock (Texas) market center. Having for compensation or gain. Perhaps in some are in Texas, there is a moratorium until recently been ranked among the 100 Most states no one offers or involves themselves August 31 on enforcement of the license Influential Women in Real Estate, Avis in owner financing, but in Texas, seller requirement for seller financing. currently serves as a commissioner for the financing is sometimes an alternate way to It is hoped that by August 31 a rule will Texas Real Estate Commission and is the finance something that someone otherwise be passed reinstituting a previous Texas immediate past chairman of the board for the Texas Association of REALTORS®. On could not purchase. My son was able to exemption allowing sellers to finance up to the forefront of regulatory issues affecting purchase a home a few years ago because five transactions in a 12-month period (the real estate professionals in Texas, Wukasch a family member loaned him the money "de minimus" exemption). Stay tuned. Pay is certified to teach continuing education to become a homeowner. If that sale were attention. Who knows what may happen and prelicensure classes on agency, occurring today, the family member would next. kw marketing, law and contracts. most likely need a loan originator’s license in 49 of 50 states in order to loan him 18 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty
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  20. 20. TOP 50 PRODUCING TEAMS* * BASED ON TRANSMITTALS RECEIVED FOR THE FIRST HALF OF 2010 (JANUARy THROUGH JUNE). CLOSED TRANSACTIONS IDENTIFIED WITH THE SPECIFIC TEAM. Name City, State GCI Units 1 Express Realty Services Reston, Va. $1,478,743.46 284.25 2 Marnie Bennett Ottawa, Ontario $1,447,210.15 103 3 The Paul Rushforth Team Ottawa, Ontario $1,216,602.94 156 4 The Rhodes Team Dallas, Texas $984,472.79 140 5 Brandon Green Companies Washington, D.C. $848,105.43 135.75 6 The Heller Real Estate Group San Diego, Calif. $846,730.75 67 7 Philbeck and Associates Orlando, Fla. $822,388.74 319 8 Sue Adler Team Summit, N.J. $780,237.50 46 9 The Belt Team McLean, Va. $777,909.80 49 10 The Fabulous Properties Team Pleasanton, Calif. $769,412.94 34 11 Tricia Fox Group Chicago, Ill. $746,815.02 72.15 12 The Bocage Team Fremont, Calif. $745,611.55 95.45 13 The Monaghan Group Glendale, Ariz. $740,878.53 244 14 The Ida Terbet Team Raleigh, N.C. $738,396.58 101 15 The Buehlers & Associates, Inc. Flower Mound, Texas $727,319.26 109 16 Mike Clarke Real Estate Team Toronto, Ontario $721,399.59 78.55 17 The Noel Team Santa Monica, Calif. $699,110.42 30.90 18 Home Resource Group Cedar Park, Texas $697,890.95 112 19 Guldi Real Estate Group Waldorf, Md. $695,428.68 161 20 The Bouma Group Ann Arbor, Mich. $693,432.94 118 21 Jennifer young Team Chantilly, Va. $678,920.09 107 22 The Kink Team The Woodlands, Texas $677,486.29 76 23 The Seybert Team Henderson, Nev. $676,752.49 198.75 24 Bizzy Blondes Marina del Rey, Calif. $657,787.49 40.65 25 The Kenny Klaus Team Mesa, Ariz. $640,982.46 123.90 26 Carol Royse Lifestyle Team Tempe, Ariz. $639,679.36 131 27 The Builders Wife Team Plano, Texas $636,711.98 49.34 28 Szakos & Associates Camarillo, Calif. $630,860.70 85.70 29 The Jordan Team Bonita Springs, Fla. $630,764.27 35.50 30 The Kristan Cole Team Anchorage, Alaska $621,443.06 91 31 The Levanson Team Phoenix, Ariz. $620,442.02 158.50 32 The Millman Team Torrance, Calif. $613,455.45 60.50 33 Smith Premier Properties Folsom, Calif. $609,812.50 113.50 34 Mulholland and Ross North york, Ontario $600,174.21 43 35 Eng - Garcia Group Washington, D.C. $589,860.29 42.50 36 Brenkus Team Henderson, Nev. $583,072.17 177.50 37 The DeBerry Team Plano, Texas $573,949.00 94 38 The Jonville Team Carlsbad, Calif. $566,923.42 42.53 39 The Marshall Group Salt Lake City, Utah $566,150.34 132 40 Ben Kinney/Home 4 Investment Team Bellingham, Wash. $562,944.78 98.18 41 Stephen Cooley Team Fort Mill, S.C. $559,629.16 104 42 The Graham Group St. Clair Shores, Mich. $556,842.48 219.25 43 Jansen Coastal Largo, Fla. $550,622.30 41 44 The Michael Reese Group Frisco, Texas $548,022.17 93.55 45 The Sunset Team Los Angeles, Calif. $547,167.00 23.50 46 McCormick Team Palo Alto, Calif. $546,537.50 8 47 The Jeff Silva Team Blue Bell, Pa. $544,126.54 68 48 Olsen Real Estate Group Woodbury, Minn. $539,229.02 159 49 Legacy Group Spokane, Wash. $538,087.99 120 50 The Karen Parker Group Vienna, Va. $534,375.74 139 20 outfront July/Aug. 2010 • vol. 7 no. 4 Keller Williams Realty