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A PUBLIC ATION OF K E LLE R W I LLI A M S R E A LTY, INC .                       FO U RTH QUARTER 2011, VOL .8 NO.4




         landscape for 2012
SHORT SALES        An inside look at agents riding the short sale wave and the new
                       opportunities coming soon from Keller Williams Realty. pg.6




Trent Chapman            Matt Fetick             Chris Farkas                           Jesse Herfel             Ryan Overmyer




         R E E D    M O O R E          O N   H O W   T O        R E C O G N I Z E    A N D       H I R E   T A L E N T .
2   outfront   Third Quar ter 2011 • vol. 8 no. 3   Keller Williams Realty
vol. 8, no. 4 - Fourth Quarter 2011


Feedback
         on Facebook
                                                                                              table of contents
Do your clients prefer phone
  calls or text messages?

Gaye Buller Ribble: I am texting
more and more. Phone calls are
                                                              06            POWER OF
                                                                            LEVERAGE                                           08            SHORT SALE
                                                                                                                                             MASTERY
                                                                                                                               Talent, tenacity
still more personal and I believe                             Why hiring talent
are necessary from time to time,                              puts money back in                                               and experience – tactics
but for quick details and time-
saving responses, texts are great!                            your business.                                                   to become an excellent
Eric Benjamin: I always ask them
                                                                                                                               short sale agent.
how they want to communicate
and I only communicate that
way. I have an client who doesn't
like texting and phone calls, only


                                                               14                                                              16
email. I have another client who
                                                                             DAVE SACHKO:                                                    FROM THE
only communicates via Facebook.
Respect their choices.                                                       THE PAY-PER-                                                    CHAIRMAN
                                                                             CLICK GUY                                         Convert Internet leads
Ted Evans: I communicate in the
manner my clients like to receive                             How he doubled his                                               to appointments now.
communication. However, when                                  business.
it’s an important message, I prefer
to convey it either in person or
over the phone, followed up with
a summary in an email/letter/text.

Robert Rogers: Don't look at


                                                               18                                                              26
what they prefer, look at what
gets the best response ... They                                             OSCAR                                                             CRASH
might prefer text, but when I                                               WORTHY                                                            COURSE
stopped texting and started
calling, I started getting referrals                          Eric Lavey’s real estate                                         Build a great Craigslist
like crazy.                                                   video goes Hollywood.                                            ad today.
Facebook: (www.facebook.com/
kellerwilliamsrealty)
Twitter: @kwri and @kwrinews
YouTube: (www.youtube.com/kellerwilliams)
Flickr: (www.flickr.com/kellerwilliamsrealty)




       Fourth Quarter 2011, vol. 8 no. 4        Executive Director of Marketing and Communications: Ellen Marks     OutFront is published by Keller Williams Realty, Inc.
       OutFront is a publication of             Editor: Laura Price                                                 The entire document of OutFront is copyright© 2011
       Keller Williams Realty, Inc.                                                                                 by Keller Williams Realty, Inc. No portion may be
                                                Copy Editor: Jeff Ryder
                                                                                                                    reproduced in whole or in part by any means, including
                                                Associate Art Director: Michael Balistreri                          electronic retrieval systems, without the express written
       1221 South Mopac Expressway,
                                                Designer: Caitlin McIntosh                                          permission of the publisher. Editorial or advertising does
       Suite 400
                                                Contributors: Celesta Brown | Jennifer LeClaire | Ashlea Miller |   not constitute advice but is considered informative.
       Austin, Texas 78746
       (512) 327-3070 phone                                     Shelley Seale
                                                                                                                    Copyright© 2011 Keller Williams Realty, Inc.
       (512) 328-1433 fax                       Advertising: Tom Freireich (advertising@kw.com)                     All rights reserved.
                                                Job Inquiries: (jobs@kw.com)
                     Keller Williams Realty                              Third Quar ter 2011 • vol. 8 no. 3                                            outfront          3
4   outfront   Four th Quar ter 2011 • vol. 8 no. 4   Keller Williams Realty
THE TIME TO BEL1EVE IS NOW!

Dear Associates,

Our company’s success is rooted in our ability to

believe. We believe that Keller Williams Realty is built by

you and for you and that your brand matters most.

We trust in our value proposition and       become the No. 1 real estate company         unleash your potential, getting you into
in our dedication to building careers       in North America. Make no mistake;           production now. (See page 22 to read
worth having, businesses worth owning       we understand this is a huge under –         how it’s already changing businesses.)
and lives worth living.                     taking. We also know that there is no           Profit sharing is the ultimate
   We believe in these pillars, simply      better time than now to seize every          manifestation of our philosophy of
because they are true!                      opportunity. It is that unstoppable          succeeding through others, and it is
   Last February at our Family              passion which brings us to our next          an absolute promise we’ve made to
Reunion, we celebrated becoming the         objective: to never have a single agent      you. As of this December, we’ve shared
second-largest real estate company          go backward. Simply put, your success        $36 million with you! We know that
in the United States – an incredible        is our goal.                                 number is entirely possible because
accomplishment that is entirely yours.                                                   of your ingenuity, ambition and your
Now, as we look forward to 2012, we’re                                                   talent in your local markets. As you
ready for the next step. To put it into                                                  read through the pages of this issue,
perspective, let’s look at where we stand
                                            "To use Gary Keller’s                        you’ll see what we mean.
in the competitive landscape.                                                               And by the way, let’s remember that
   It thrills us to say that while other    words, we know how                           our company’s entire belief system is
companies have gone down in size by                                                      centered on our extraordinary culture.
nearly half since 2005, Keller Williams     fortunate we are to be                       We’ve said it before: we’d rather build
Realty has grown from 57,600 to                                                          a company of good citizens first, and
77,672 associates during the same           standing on the shoulders                    then a company of top producers. We’re
time period – an increase of almost 35                                                   lucky that our culture fosters both.
percent! To use Gary Keller’s words,                                                        You hold the future of our company
we know how fortunate we are to be
                                            of giants. And those                         in your hands, and we are absolutely
standing on the shoulders of giants.                                                     thrilled to serve as stakeholders with
And those giants are you!                   giants are you!"                             you on our way to the top. We want
   Our biggest asset as a company is that                                                you to know that we’re going to
we are long-term thinkers. We set the                                                    continue believing in YOU. We trust
bar high, and while reaching the No. 1      Our focus has and always will be on          that you’ll keep on believing in yourself
spot in our industry is absolutely our      providing the very best education,           and in Keller Williams Realty.
destiny, it’s about becoming the real       training and coaching, so that you stay
estate company of choice for the long       on a forward trajectory in your career
haul.                                       and your life. This year, that includes
   What this means for us is that our       Ignite. Replacing CAMP 4:4:3, we
trajectory is clear and we are going        know the contents of this amazing class       Mark Willis, CEO,
to remain steadfast on our journey to       will spark your career and absolutely         Keller Williams Realty



        Keller Williams Realty                    Four th Quar ter 2011 • vol. 8 no. 4                                outfront       5
kw           teams          REED MOORE | ANCHORAGE, ALASKA                                                     By Shelley Seale




        Reed Moore: Mega Agent. Leader.
          HOW HE FOCUSED ON OPPORTUNITES INSTEAD OF OBSTACLES TO BREAKTHROUGH
          HIS PERSONAL CEILING OF ACHIEVEMENT.


       The story is an all too common one. Driven by a business           office manager. As his business has grown, he is resolute on
    plan, an agent secures success on their own by focusing on            securing a win-win for all parties, and the hiring process is
    lead generation, negotiating contracts and closing deals.             the moment to get it right.
    Then one day, they wake up and realize they’re also juggling             “The job I match them with has to be something they
    paperwork, inputting listings, creating marketing materials,          were created to do. They need to have a natural energy for
    and handling the administrative work, all while trying to             it or it will steal from their life and mine.” In other words, a
    show homes and list more properties.                                  bad hire will not only cost you money, it will also cost you
       Despite the success, there’s just too much to do and the           opportunity. And conversely, a good hire will actually save
    ceiling of achievement starts to descend.                             you money and will not only make you money, but will also
       Just a couple of years ago, the above scenario described           create opportunities for you and your business.
    Reed Moore, a once solo agent in Anchorage, Alaska. He                   Moore starts the hiring process by asking potential new
    was prosperous, but wearing too many hats to sustain it. A            team members about their dreams. If they compliment his,
    husband and father to four children, he was doing five or six         then there’s a probable match.
    different jobs every day and was making compromises in his
    life.                                                                 THE PATH FORWARD
       Something had to give.                                             Moore is now in a position to build his business to the 6th
                                                                          Level. He’s assembled a loyal team and is investing in those
    THE BIG DIFFERENCE                                                    who are investing themselves in the business. He takes pride
    Moore laughs when he reflects on his decision to join the             in their team’s office environment which is conveniently and
    Keller Williams Anchorage market center in 2009: “It was              purposefully missing offices. “This stimulates the free flow
    a huge ego-crusher, actually.” Moore was reaching a level of          of ideas that I think are critical to the group’s cohesion,” he
    success that others admired, but he admits that he was flying         says. Their weekly meetings are full of affirmations and each
    blind. “I was doing about $3 million each year, and yet I             team member participates in weekly coaching and feedback.
    didn’t know how much I could or should be making.” He                    Moore is teaching his team to lean on the tools and
    decided to take action by attending every training session he         resources that Keller Williams Realty makes available to help
    could and soon realized that he didn’t need to reinvent the           push them through slumps in the market. “Success is just on
    wheel. “Keller Williams gave me all the tools and models              the other side,” he believes. “Far more exists in our minds
    and processes I needed to build a like-minded team and                to slow us than truly exists in reality. Sometimes when we
    continue my growth trajectory.”                                       are on the verge of great opportunity, we contrive fictitious
      With the help of Recruit-Select, Action Training, and               situations that stall our success.” Indeed, difficult market
    Leadership and Motivation (RSTLM™), Moore learned                     conditions are an opportunity to build character. “When the
    how to effectively hire, train, develop and keep great talent.        market takes off, we will fly even higher.”
    Now he leads a high-performance team that consists of five               His goal now? To be the No. 1 real estate team by volume
    buyer agents, a listing partner, a virtual assistant and an           in his region. kw



    "... a good hire will actually save you money and create opportunity for your business."
    – REED MOORE




6       outfront                                    Four th Quar ter 2011 • vol. 8 no. 4                      Keller Williams Realty
JARED BJERKESTRAND     ANNIE BJERKESTRAND   MICHAEL KING      KRISTIN VAN WIE        SABRA GILLILAND   REED MOORE     CHRISTINA LIEN



                       REED MOORE’S TIPS FOR FORMING A GREAT TEAM:

                1                                2                                     3                          4
          Follow                         Ask people that you
                                         trust – past clients,
                                                                             Believe in yourself
                                                                             enough to get the
                                                                                                             Read The Five
                                                                                                             Dysfunctions of a
        the MREA                         agents, influential
                                         businesspeople – to
                                                                             very best. Go for
                                                                             someone who is
                                                                                                             Team by Patrick
                                                                                                             Lencioni.
         models.                         point you to potential              great; you never
                                         team members. Tell                  know their situation.
                                         them that you are
                                         looking for talent.




       AVOID
                                        Like everything else in this                             Get attached to the process,
     THESE TWO
       HIRING                       1   business, follow the models. If you
                                        are not in a win-win relationship,                 2     not the individual. Ask yourself
                                                                                                 if they help you get where you
      MISTAKES!                         did you veer from the models?                            want to go.




           Keller Williams Realty                   Four th Quar ter 2011 • vol. 8 no. 4                                 outfront      7
kw       cover story      By Ashlea Miller




            landscape
       for 2012
                        SHORT SALES
                       "GET READY, GET AWARE, TAKE ACTION!"

     RYAN OVERMYER         MATT FETICK                   CHRIS FARKAS                 JESSSE HERFEL               TRENT CHAPMAN
    ANN ARBOR, MICH.     PHILADELPHIA, PA.            BELLINGHAM, WASH.             MESA-GILBERT, ARIZ.           SAN DIEGO, CALIF.




8      outfront                              Four th Quar ter 2011 • vol. 8 no. 4                     Keller Williams Realty
When Matt Fetick, associate with the Brandywine market                   Anthony Azar, operating principal of two Arizona
center, saw short sale transactions erupting on the home              market centers and president of Keller Williams Realty
front 18 months ago, he ran right toward it.                          International’s Strategic Alliances division, sees firsthand
   At the time, while most agents in his market shied away            the weight a designation has in whether banks choose to
from the unfamiliar deals, he saw a new niche emerging                work with one agent over another. “What we’ve found in
for his business. Determined to capitalize on it, he enrolled         all of our discussions is that banks rely on designations like
in short sale-specific Keller Williams courses, pursued top           Five Star, CDPE and PartnerFirst as a method of measuring
agents in the field for advice and quickly became the leading         whether the agent is among the most professional,
short sale real estate agent in the greater Philadelphia area.        responsive and effective real estate professionals in the
   “My goal is to become the short sale king of                       industry. Keller Williams Realty supports those designations
Philadelphia,” says Fetick, a former police officer who               and is actively working to strengthen those relationships
entered the real estate business in 2005.                             and bring added value to associates.”
   Something seems to be working. In just a year, he’s helped            Herfel, who has been specializing in distressed properties
nearly 40 homeowners avoid foreclosure and sell their home            since his first short sale in 2000, says it doesn’t have to be as
through a short sale.                                                 difficult as people make it out to be.
   This scenario is playing out all across the United States.            Still, Fetick says, agents are hesitant to approach the niche
And the number of short sales will likely rise as more                because of their lack of training and fear of the process
and more homeowners turn to them as an alternative to                 itself. The truth is most real estate professionals already
a foreclosure. In fact, according to CoreLogic, a leading             have the necessary skills to secure a short sale listing. Most
provider of financial, property and consumer information,             agents simply need training on completing the short sale
short sales will have increased by 25 percent by the end of           transaction. Like any new endeavor, “you need to own it
2011.                                                                 and understand it,” Fetick emphasizes.
   And while the short sale process presents unique
challenges for everyone involved, the agents who specialize           GET ORGANIZED
in the practice say the transactions are equally rewarding.           Once primed on the short sale process, successful agents
    “In a short sale, sellers are so thankful for the help, and       recommend implementing systems to stay organized, save
they tend to listen to your expertise and take your advice,”          time and generate business, regardless of team size.
says Fetick. “They don’t second-guess you. They really                   Ann Arbor market center-based agent Ryan Overmyer,
respect your professional opinion.”                                   for instance, is on track to close up to 110 short sales this
     Banks, who incur a lot of additional expenses when they          year, and is doing it with a team of three.
foreclose, benefit too. So, a reasonable short sale is almost            “There are teams in my area that are six, seven people
always going to net them more money which gives agents                strong that do less short sale-specific transactions,” says
another opportunity to position themseleves as experts.               Overmyer, 32, who got into real estate five years ago and
   Here, five Keller Williams short sale specialists talk             has built his career by specializing in short sales.
about the opportunity to offer much-needed assistance,                   He attributes this volume to three key steps in his process:
gain much-needed income, and reveal a few lessons they’ve             1. Pre-qualifying homeowners with the utmost vigilance:
learned along the way.                                                   “Without the pre-qualification component, we’d face a lot
                                                                         more challenges in the process;”
HIT THE GROUND RUNNING                                                2. Conducting appointments in the office rather than in
As with any new venture, understanding the scope, what’s                 clients’ homes: “This is my biggest time-saver;” and
at stake, as well as the process is paramount: all of which           3. Aligning himself with an attorney rather than a third-
requires the right combination of education, training and                party negotiator: “There’s no possible way I could
specialty designations.                                                  negotiate hundreds of short sales on my own.”
  Jesse Herfel of Integrity First Realty in Mesa-Gilbert,                Another must: requiring all qualifying documents up
Ariz., strongly encourages agents to invest in specialty              front – no exceptions – before listing a home.
designations that teach agents the ins and outs of the short          Chris Farkas, who has worked in real estate investing,
sale process. “                                                       renovations, construction and development in the


        Keller Williams Realty                     Four th Quar ter 2011 • vol. 8 no. 4                                   outfront        9
kw        cover story



     Bellingham, Wash., area for 19 years does the same. "That             helped open new doors to potential clients.
     way, I’m not chasing them down for information that                     Chapman, for instance, appears on an a.m. radio
     might be time-sensitive.” She also emphasizes the benefits            program each Saturday morning in San Diego County
     of conducting the face-to-face meeting in the office.                 to discuss real estate. “I’ve been doing it for so long now
        “It takes the emotion out of the equation and helps                that when people hear me on the radio, they see me as a
     people think more clearly than they might if they’re sitting          trusted voice,” he says.
     in their living room,” she says.
        Once the listing is secured, Herfel, Overmyer and Farkas           CLEAR THE HURDLES
     all encourage active use of a short sale-specific software            Knowing where the biggest challenges lie – and how
     system such as Equator or Short Sale Commander to keep                to overcome them – will help agents and clients breeze
     track of the status of the transaction, communicate with all          through the process.
     parties and organize the documents needed by lenders to                  “I used to have more hurdles than I do now,” says Farkas.
     close the deal.                                                       “If I thoroughly educate my clients from day one, I have a
                                                                           lot less challenges than I used to.”
     LEAD THE WAY                                                             Client education includes guiding them through sticky
     Every agent knows the power of a referral, and for                    situations with lenders, so the group suggests becoming an
     many short sale specialists, referrals from agents who                expert on bank negotiations.
     are unfamiliar with the short sale process are a primary                 “The trust between banks and the homeowner improves
     means of securing ongoing business. Trent Chapman,                    when the agent has experience,” adds Chapman. Which
     began tapping into the short sale market in California’s              makes the relationship between the bank and the agent all
     Escondido/North County market center in 2007. At least                the more important. Indeed, working with the bank often
     five other agents currently hand off their short sales to him,        requires agents to escalate approvals on behalf of their
     Chapman says.                                                         clients. To do this, Chapman advises agents to “find out
        And he’s not alone.                                                who has the authority and power to say ‘yes’ within the
        Agent referrals comprise 50 percent of Farkas’ business            bank. The key is knowing how to get to the right person
     too. “That’s what starts to happen when you specialize in             instead of dealing with the negotiator only.”
     short sales,” she says. “You get business from other agents              Farkas counteracts the bank problem entirely with what
     who know their clients need professional assistance.”                 she considers to be her biggest setback: the valuation
        Fetick taps into other referral pools as well, such as             process.
           bankruptcy and divorce attorneys. He recently started              “Disputing the value is very difficult, especially if you’re
                             educating attorneys about the short           not working with a good value and you can’t convince the
                                     sale process during lunch-            bank otherwise.”
                                     and-learn seminars, with the             Her advice? Entrench yourself in the valuation process.
                                     hope that they’ll refer their         Meet with appraisers at the home to offer information they
                                     legal clients back to him.            might not otherwise have had.
                                          An Internet strategy                Herfel adds this tip: To get the bank to accept the value,
                                     that includes pay-per-click           start by listing your price based on current comps in the
                                     advertising and regular               area. Then, reduce the listing price by 5 percent every two
                                     blogging also drives traffic          weeks until you have enough proof that the price isn’t
                                     to many of their websites,            taking hold. “This should give you enough leverage to go
                                    while actively positioning             to the bank and say, ‘Look, the market rejected us at this
                                    them as experts who can help           price, and then this price….’” he explains.
                                    homeowners out of a possible              Overall, Fetick offers a more subtle, strategic approach to
                                    foreclosure. In fact, sharing          any pitfall you encounter: “Decide when to fight a battle,”
                                    what they know through                 he says. “It’s all about the finesse of the deal.” kw
                                    different media channels has



10       outfront                                     Four th Quar ter 2011 • vol. 8 no. 4                      Keller Williams Realty
we asked
RYAN OVERMYER!
                      What does a listing                          "The listing presentation is a two-step
            presentation with a distressed                         process. First we do an initial over-the-
                  homeowner sound like?                            phone qualification. If the projected terms are
                                                                   acceptable to the borrower(s) we then schedule
                                                                  an in-office appointment with borrower(s) for a
                                                               final review and to sign documents. I have them sign
                                                          anything and everything we could ever need. We also
           schedule a convenient time for the photographer to visit their home.
         By the end of the initial call sellers feel so comfortable, even after such a short conversation, because
       I’m usually able to tell them what the exact terms and/or outcomes of their short sale will likely be. I’m
       able to do this because I speak with so many banks so often. Also be prepared to field questions about
       credit, a timeline and their individual financial circumstances.



      Script: Initial Over-the-Phone Pre-qualification
 Seller: I’m interested in receiving more information on how a short sale might be a good option for me.
 Agent: Cer tainly. Would it be OK if I asked you a few quick questions that will help me answer your questions a little more accurately?
          What do you think your home is currently worth? Deal Breaker for Overmyer: An anticipated sales price of under $100K.
          How would you rate your home’s current physical condition? Deal Breaker for Overmyer: Poor condition.

            Who is/are your              What are the estimated               How many borrowers                Are you currently up-to-date or
            lien holder(s)?              mortgage balances?                   are on the loan(s)?               behind on mortgage payments?

          (Note: Give them the most probable outcome of the sale based on their answers to these questions. For this
          script, we’ll assume there is one borrower with one Major Bank mortgage loan.)

 Agent: OK, thank you! Now, let me give you the “cliff notes version” of how the short sale process would most likely go for you.
 Please keep in mind that the results of your short sale are incredibly bank specific! If you had a lien holder other than Major Bank
 Mortgage – we’d project a very different outcome.


        1        First, we’ll place your home on the market –                                   4        After we’ve finished assembling your shor t
                                                                                                         sale package – we’ll submit it to your bank and
                 listed at market value.
                                                                                                         begin the negotiation process.

        2        Then, we’ll obtain a purchaser and a market                                    5        Since your loan is with Major Bank, here are
                 value offer for your home.                                                              the terms we’d expect to receive.*

        3        Then, we’ll lock that purchaser in place and assemble your
                                                                                                 6       Do these anticipated terms sound
                 shor t sale package. Your lien holder will require various                              acceptable to you?
                 financial documents – and we’ll email you a checklist of these
                 required documents prior to getting off the phone today.

 *Bank terms trend quickly. So it’s important that you are giving clients accurate information. If you’re unsure about the probable outcome of the short
 sale – consult with another short sale expert or wait to offer the expected outcomes until you have reliable information to back up your predictions.



        Keller Williams Realty                                Four th Quar ter 2011 • vol. 8 no. 4                                               outfront   11
kw          Strategic Alliances Division




                                              "Get ready, get aware,
                                              take action!"
                                                  PERSPECTIVE: HALF OF ALL HOME OWNERS COULD BE UNDER WATER

                                                     By Anthony Azar, President, Strategic Alliances, Keller Williams Realty, International

     When I think about the numbers below, I reflect on the                              improve on current processes is strengthening. We’re also
     commentary Mark Willis, CEO, made in a recent meeting                               positive about the improvements through several new short
     between Keller Williams regional directors and senior                               sale lead-routing scenarios, which are helping to alleviate
     leadership: “The number of short sales coming into the                              the number of homeowners having to be foreclosed upon by
     market in 2012 is going to be huge. Agents and leadership                           putting them in touch with skilled, trained and experienced
     need to get ready, get aware and take action!” I couldn’t                           short sale agents.
     agree more, Mark.                                                                      In the first scenario, the servicer contacts the pre-screened
       One of the few positive developments that came out of                             borrower by letter, informing them of the benefits of a short
     the flood of homeowners underwater on their mortgage                                sale and listing out the contact information of agents –
     in 2011 is the emergence of a targeted, proactive model                             chosen based on designations, training and past experience.
     between national real estate franchise companies and several                        It is up to the homeowner to take action by doing
     major national servicers. Though some anecdotal evidence                            nothing or contacting an agent on the list. As part of our
     shows that the relationship between servicers and short                             relationship with CitiMortgage, qualified Keller Williams
     sale agents is stressed at times, the collaborative effort to                       associates already have this unique opportunity to help tens




                                                           2nd Quarter 2011:

                                                                 5%                                  5 percent price drop = 16 million underwater




                                                                 10%                                      10 percent price drop = 20 million
                                                                                                          underwater (out of 44 million)



                                                               10.9 mil.                                     10.9 million homes underwater
                                                                                                             (Source: CoreLogic Q© 2011)



                                         Half of all homeowners could be underwater before recovery is complete. (Source: Fitch Ratings)


     * Anthony Azar is an operating principal of two market centers in Southern Arizona, area director in Southern Arizona and president of the Strategic Alliances
     Division for Keller Williams Realty International. Anthony has developed and operated successful full-service real estate organizations, including complimentary
     services in the areas of mortgage, home warranty, property/casualty insurance and title insurance. Anthony brings a wealth of experience and knowledge to this
     new role, and will be supporting our regional and market center leadership to maximize strategic alliances for associates’ clients, associates and market centers.


12        outfront                                                Four th Quar ter 2011 • vol. 8 no. 4                                Keller Williams Realty
of thousands of homeowners on the verge of foreclosure. Qualified
Keller Williams associates can log on to MyKW and update their
information so that the Keller Williams Realty International Support
Center, and by extension our national banking/servicer relationships
are aware that our associates are ready, willing, and most importantly,
able to assist borrowers in need of their unique capabilities. To learn
more about how to become qualified for this program, visit (http://bit.
ly/vK5pS8)
   The second scenario puts action in the hands of the agent. Again, the
servicer communicates with pre-screened borrowers to inform them of
the short sale option and provides the name and contact information
of an agent in their area who can help them. The servicer will then
directly, or through a platform, advise agents of that borrowers’
willingness to engage in dialogue and are given the borrower’s contact
information. Agents participating in the program are responsible for
reaching out to the customer in a timely manner. The banks will then
determine their level of interest in proceeding with the short sale based
on the performance and, if all goes well, the right parties are in contact
to achieve one similar goal: close on the short sale.
   Keller Williams Realty fully supports both models and is currently
working with large servicers to open the opportunities up to our
qualified short sale agents including at lead-routing model built into
the Keller Williams eEdge system. Short sales are here to stay for the
next several years. As a company, we must be prepared to serve our
clients while mending our economy – it’s time to take action. kw


                YOUR NEXT STEPS
1. If you have not already, obtain reputable and recognized short sale
   certifications such as Five Star or PartnerFirst.
2. Download short sale specific Keller Williams University courses at
   (http://kwu.kw.com/kwu/distressedproperties).
3. Watch short sale-specific videos on KWConnect
   (http://bit.ly/kwconnectshortsale).
4. Attend all local and national training opportunities
5. Update your KW.com profile to include your designations.
6. Apply to be a part of the Keller Williams Distressed Property
   Community.
7. Apply to be a part of the CitiMortgage Help for Homeowners
   Direct Mail Program. (apps.kw.com/shortsale)


   MCAs: Create a Short Sale Referral Engine
Make sure your market center
is sending short sale referral
transactions to the right agents!
Step 1: Educate agents on taking the time to indicate the type of
        transaction as a short sale on their Greensheets.
Step 2: Mark the transaction as a short sale on the Disbursement
        Authorization (DA) in your market center’s WinMORE System.


         Keller Williams Realty                    Four th Quar ter 2011 • vol. 8 no. 4   outfront   13
kw            technology         D A V E S A C H K O | O N TA R I O, C A N A D A                                           By Jennifer LeClaire




              Southeast Ontario’s
              "Pay-Per-Click Guy"
              Doubles Business
          The pay-per-click guy. That’s how Dave Sachko describes himself.
          An agent at the Whitby, Ontario market center, Sachko is generating
          massive Internet leads. In fact, over the past two years he has more than
          doubled his business by mastering pay-per-click online advertising.
             Consider the metrics: Sachko is getting 350 legitimate registrations
          on his website every month. That means 350 people are sharing their
          phone number or email address with his team in hopes of finding their
          dream home. And it’s translating into closings. All registrants indicate in
          the online form the location and price range of their desired home,
          a well as how far along they are in the home buying process.                                             Dave Sachko
             Of the 165 transactions Sachko closed in 2010, 90 came
          from pay-per-click advertising on search engines. Another
          60 closings came from referrals and past clients, and the
          remaining 14 are credited to open houses.
             “I pay a company to run Google AdWords campaigns for my
          trade area,” says Sachko, as he prepares to head out to his 100th
          listing appointment on day 247 of 2011. “When a prospect
          registers for more information, an automatic email immediately
          goes out to thank them for contacting us. Then we pick up
          the phone and call them.”
             Of course, that phone call doesn’t always turn into an
          immediate listing. Sachko understands that many people
          begin searching for a home a year before they are actually
          ready to buy. In fact, some research shows they begin
          searching up to 18 months before deciding to buy.
          But he also knows that getting home shoppers in the
          pipeline is the first step toward closing a sale. And a
          good percentage of his Internet-generated leads are
          ready to buy now.
             “Our goal is to retain the lead over time through
          follow-up phone calls, so when they are ready to
          buy we are right there waiting for them,” Sachko
          says. “But it’s critical that we respond to each lead
          as quickly as possible because some visitors have


              Start your own pay-per-click ad campaign


           Create an Ad. At the bottom of each search engine                                      Pick Your Keywords. Next you’ll be cued to bid on
           homepage, you’ll find links to its ad programs. If you already                         the keywords you’d like your ad to appear in.You
Step 1:




                                                                                        Step 2:




           have a Yahoo, MSN, or Google account, you’ll just log in and                           might start by selecting the same long-tail search
           get started. Otherwise, you’ll need to sign up. The first thing                        terms from your blog or website. Once you’ve
           you’ll do is set up the ad itself which involves choosing a few                        selected your keywords, you’ll be asked to set your
           keywords to state your value proposition.                                              maximum cost per click and daily budget.


14            outfront                                       Four th Quar ter 2011 • vol. 8 no. 4                           Keller Williams Realty
already talked to four or five agents.”
                                                                Sachko’s biggest challenge is finding agents
                                                             that are willing to follow up on the high
                                                                                                                 “When a prospect registers
                                                             volume of leads he generates. That’s why
                                                             he just developed a new system to drive             for more information,
                                                             his conversion rate up from the industry
                                                             standard three percent to a high-performing         an automatic e-mail
                                                             four percent.
                                                                “Agents are too busy doing open houses           immediately goes out to
                                                             and home inspections and closing deals to
                                                             consistently follow up the leads,” Sachko           thank them for contacting
                                                             explains. “So I took all the online visitor
                                                                                                                 us. Then we pick up the
                      © 2011 Yvonne Berg/Luminosity Images




                                                             registrations away from the agents and put
                                                             together an inside sales staff whose sole job
                                                             is to follow up on leads, convert them to
                                                             appointments, and hand them out to buyer
                                                                                                                 phone and call them.”
                                                             agents.”
                                                                                                                    – DAVE SACHKO
                                                                Although Sachko made the sweeping
                                                             change on gut instinct alone, he is seeing
                                                             early return on his decision. Just 14 days
                                                             after launching the new system, his inside
                                                             sales staff booked eight appointments from 88 legitimate leads — and the effort led to one
                                                             closed home sale. That is a whopping 11 percent conversion rate. The new system puts
                                                             Sachko is on track to surpass his 2010 numbers this year.
                                                                Despite his success, Sachko isn’t resting on his online advertising laurels. After five
                                                             years of working to generate Internet leads through paid search engine marketing efforts,
                                                             Sachko is launching his Search Engine Optimization, or SEO, strategy. SEO is a set of
                                                             algorithmic techniques that aim to help websites rank higher in natural search results.
                                                                 Sachko hopes to add 150 to 200 leads once the system is complete.
                                                                        Sachko is the first to admit that business hasn’t stopped booming in Whitby,
                                                                      a market in Southern Ontario just east of Toronto on the north shore of Lake
                                                                       Ontario. But he’s also the first to admit that traditional leads started drying up
                                                                       about five years ago. In other words, Sachko became the pay-per-click guy out of
                                                                       sheer necessity.
                                                                                   Sachko, who came to Keller Williams from RE/MAX to tap into the
                                                                         systems and resources, admits his moniker was an experience full of trial and
                                                                           error. He made a significant investment in the early years, taking one step
                                                                            forward and two steps back, to find the success he has today.
                                                                                   Despite his success with Internet marketing—and the possibilities
                                                                              that lie before him with his SEO and social media ventures—Sachko isn’t
                                                                                abandoning his real estate lead generation roots. He is quick to point out
                                                                                 that he was a referral-based agent before he became the pay-per-click guy.
                                                                                  And he’s still a big believer in open houses and community events.
                                                                                   “Gary Keller talks about having pillars to your business,” Sachko says.
                                                                                  “My new business has shifted from print to Internet, but I still have
                                                                                  the pillar of referrals. And generating leads on the Internet is more
                                                                                  challenging because we have a more educated public. Even though the
                                                                                   Internet can be a very effective lead generation tool, you can’t live off
                                                                                    the Internet alone.” kw


                                                                                         Buyers and sellers search, click on your ad and find you. This
               When bidding on keywords, check back                                      is where your pay-per-click advertising needs you to jump in.
                                                                               Step 3:




                                                                                         The measure of your website’s success isn’t traffic or unique
TIP!           daily to see how well your ad is working.
               If it is doing well, you’ll have the                                      visitors – it is in appointments set. Make sure your ad is
               opportunity to further lower your bid.                                    delivering on its promise, and that you have a lead capture and
                                                                                         convert strategy in place to set the appointment!


       Keller Williams Realty                                           Four th Quar ter 2011 • vol. 8 no. 4                                     outfront      15
kw         lead generation Q&A




                                       What Happens to
                                       Internet Leads?
                                       YOU CAN’T EXPECT TO MEET TODAY’S CHALLENGES WITH YESTERDAY’S
                                       TOOLS AND EXPECT TO BE IN BUSINESS TOMORROW.

                                             By Gary Keller, Chairman of the Board, Keller Williams Realty International,
                                             with Kristian Peter & Carissa Acker



      Research shows that consumers start looking at homes online up to 18 months before they decide to buy. Contrary
      to popular belief, “Internet consumers” don’t really exist. Actually, all of our customers are Internet consumers and
      having a web strategy has become as much a part of our daily work as calling or getting into a car to meet a client.
         The good news is a lot of agents have figured out how to get consumers to their website. Where most struggle
      is in failing to successfully follow up with these leads and convert them to an appointment. A recent study by MIT
      and LeadResponseManagement.org found that calling a lead within the first five minutes is imperative. In fact, they
      discovered that the odds of qualifying a lead is four times higher if you call within the first five minutes. If that’s
      not enough to get you calling quickly, waiting to call within 10 to 30 minutes decreases your chance of converting
      the lead by 21 times!
         Recently, I had the pleasure of talking with Kristian Peter, a top-producing agent with the Escondido/North
      County (Calif.) market center, and Carissa Acker, another top-producing agent in our Denton (Texas) market
      center, about their lead capture and follow-up strategies.

      We dove into their strategies to answer the question … what happens to Internet leads? Here’s an excerpt from
      the conversation.


     GK     Gary Keller: Give me a snapshot of your business                         Kristian: On a monthly basis, we get about 2,000.
            and tell me what you do with Internet leads.                    KP       All the buyer leads come in from the web through
                                                                                     email, so we have a full-time buyer coordinator who
              Kristian Peter: Right now we’ve got about 110                     intercepts them, tracks them based on the source and
     KP       listings, so we generate an awful lot of buyer calls             then puts them into the database. Once the leads are in
              and web leads that come directly from our website                the database, one of our 11 buyer agents is assigned a lead
        and third-party sites. I have a little bit different opinion           based on geography. They will then follow up with the
      on the way that we generate leads off of our websites.                   lead.
      I let the buyers come in and search until their heart’s
      content. They don’t need to register for anything. As soon           GK         Gary: So 2,000 leads is about 500 per week.
      as they’ve found a property that they want to take a look                       Between 11 people that’s 50 web leads. How do
      at, or they want more information on, they’ll request                           your buyer agents get in touch with them?
      it. They can at any time create a registration and log-in
      information on their saved searches, but we don’t require             KP      Kristian: Typically by phone or email. About 90
      them to do that. I’ve found that if you let them take care                    percent of our leads don’t put in a phone number,
      of everything the way they want, then they kind of pre-                       so our buyer agents are usually emailing them
      qualify themselves.                                                      consistently for six months or until they respond through
                                                                               our follow-up action plans in our CRM. We convert
            Gary: I got ya. Let me ask you a basic question:                   around 2 percent of our web leads and 10 percent if they
     GK     How many Internet leads do you actually generate                       call us directly.
            on a, let’s say, monthly basis?
                                                                           GK         Gary: Got it! Carissa – tell me how your



16        outfront                                       Four th Quar ter 2011 • vol. 8 no. 4                          Keller Williams Realty
organization is set up to handle Internet leads that
come in.

         Carissa Acker: Right now we have about 75
CA       listings. Our main source of web-generated                                        Consumer Searches
         leads comes from our BoomTown website,                                            For your site to be successful you must
    which is our real estate marketing platform and                                        have a strong lead generation plan that
branded website. When a consumer starts to search                                          pulls, pushes and leads people to it.
for properties, the site lets them see the first property                                  This is based on your offline marketing,
listing detail. The second property is where the lead                                      online search engine marketing or
capture form appears requesting their information.                                         online related sites marketing.
And we’re getting pretty good phone numbers
– between 30 and 40 percent. Then the system
automatically assigns the leads out.
                                                                                           Lead Capture!
GK      Gary: What do you mean, assigns them?                                              Use one of the four lead capture
                                                                                           strategies. Up-Front, Pre-Results,
         Carissa: We have our three buyer agents on                                        Limited Results, Open Search with
CA       a two-to-one rotation. So, it automatically                                       Drip. Read Tactic No.6, Catch People
         sends out approximately 100 leads a month                                         in Your Web in SHIFT: How Top Real
        to each buyer agent. Once we have those                                            Estate Agents Tackle Tough Times.
  leads in our system, we initiate a modified version
of Ben Kinney’s “Ten Days of Pain” for our different
categories which include “New to Qualify,” “Hot,”
and “Nurture and Watch.” But we’re finding that                                            Call them!
we’re getting so many leads that we’re going to have                                       Studies show that the odds of
to hire someone who can do a drip system all day                                           qualifying a lead is four times
long so that our buyer agents can focus on calling                                         higher if you call within the first five
people.                                                                                    minutes. Don’t worry if they are still
                                                                                           on your site – evidence shows that
        Gary: So what’s the conversion rate you’re
GK      experiencing?
                                                                                           can increase your odds as well.


         Carissa: We’re probably at about 3 to 4
CA       percent. It could be more, though right now                                       Drip Campaign
         we’re trying to figure out how to structure                                       Whether you convert the lead or not,
     our team to manage all the leads coming in. This                                      put them on a drip campaign. This can
is the start of our sixth month using the BoomTown                                         be passive such as search-saver with
web platform, and you’re right when you said that                                          email, active such as an 8 x 8 or 33
people get so many leads that they’re just inundated –                                     Touch program through the KW eEdge
and that’s basically what happened.                                                        system or Interactive which would involve
                                                                                           specific ongoing follow-up through calls
        Gary: There is a way to combat that and                                            and emails.
GK      it’s based entirely on the Organizational
        Model outlined in The Millionaire Real
       Estate Agent. And that is to take the very best                                     MREA Team Model
and say, “You’re the buyer specialist. And all leads                                       When you become overwhelmed
are coming to you.” And “Oh, by the way, you’re                                            with Internet Leads and conversion
going to call them, and you’re going to talk to them.                                      rate dips below 2 percent, it’s time
And you’re going to set appointments, meet with                                            to hire staff.
them and qualify them. And then you’re going to
send them out with showing assistants.” And that
buyer specialist is going to have at least one personal
assistant if not two who may also be transaction                                           Agent Mountain
coordinators. Now you’re able to work the Internet                                         To hear the entire conversation
leads and convert them to consistently do 15 to 20                                         on Internet Lead Conversion and
transactions in a month.                                                                   employing the MREA Organizational
                                                                                           Model to support it, visit (http://bit.
Hear the full conversation on Agent Mountain                                               ly/InternetLeads).
(http://bit.ly/InternetLeads).


        Keller Williams Realty                      Four th Quar ter 2011 • vol. 8 no. 4                                        outfront   17
kw           video           E R I C L A V E Y | H O L LY W O O D, C A L I F O R N I A                             By Shelley Seale




           The making of real estate’s most
           talked about listing video
           A BEHIND-THE-SCENES LOOK AT THE OSCAR-WORTHY SHORT FILM PRODUCED BY
           KELLER WILLIAMS AGENT, ERIC LAVEY


     A well-dressed, attractive man pulls his Lexus up to a hip              more excited to make that commitment and pull the
     mid-century house in the Hollywood Hills. After freshening              trigger.”
     up, mixing a martini in his high-tech kitchen and making a                 Lavey’s lifestyle films for the homes he represents
     few phone calls, he heads back out to some hip Hollywood                demonstrate the first rule of sales: don’t sell the features, sell
     nightspots. When his car rolls back into the driveway later             the benefits. It’s not about the design, the high-tech gadgets
     that night, the passenger door opens and … fades to black.              or the gourmet kitchen – it’s all about what sort of lifestyle
     Is it an MTV music video? No, it’s the marketing film for               the buyer will have in that house, and his or her ability to
     Eric Lavey’s recent listing at 6816 Pacific View Drive. And it          envision a life there.
     garnered a buyer within 30 days.                                           “There are tons of homes for sale, and there are even a
        The clip is a smooth, professional production befitting of           few other videos out there,” Lavey says. “But those videos
     the Hollywood location, and it doesn’t look anything like a             are usually an agent with a portable digital video camera
     typical real estate listing video. Lavey, who is with the Keller        droning on about the stainless steel appliances.” And while
     Williams Beverly Hills market center, calls it a “lifestyle             it's a quick-and-easy way to get videos online, a better
     film.”                                                                  strategy is to actually focus on how the family will gather
        “The same person who purchases a Mercedes, BMW or                    around the kitchen island and cook together. “That’s an
     Audi, plans a two-week cruise aboard a 6-star yacht, or even            experiential sell.”
     buys an iPad is already accustomed – even expecting – this                 Lavey believes that clients should expect this type
     type of showcase,” he says. “And it has always surprised                of service and creativity, not just view it as an add-on.
     me that the most important purchase they will ever make                 Particularly in his marketplace, where sellers usually pay 6
     – their home – just has a generic MLS sheet and maybe a                 percent in commissions, they deserve the very best chance
     boring brochure. There seemed to be a massive void there.”              to accomplish the goal of the highest price in the shortest
        As a consumer himself, Lavey loves to see the product                amount of time.
     in action, especially when it comes to higher involvement                  That’s exactly what the Pacific View Drive video did. The
     purchases. “I get a clear and easy sense of how the product             clip quickly went viral, thanks to the power of social media,
     will live and operate in my lifestyle. It just gets me even             appearing on AOL and eventually racking up nearly 10,000


18       outfront                                      Four th Quar ter 2011 • vol. 8 no. 4                        Keller Williams Realty
Watch the vide
                                                                                                o: http://bit.l   y/ericlavey

hits – including the eventual buyer, who went into escrow
within 30 days. Lavey says that is about one-third the
average days on market for the neighborhood.
   “The important thing to remember is that the video is
only a component that complements the entire marketing
plan,” Lavey advises. “That includes proper staging, true
magazine-quality photography, spectacular and simple
property-specific websites – and the video. And all of that
is before a flawless launch of the property. The video is for
potential buyers to either watch at home (anywhere in the
world) before they see the house, or to get them excited
about it all over again after they’ve toured the home.
It’s another exciting ‘take-away’ for the buyer, a virtual
brochure.”
   Lavey estimates that such videos cost between $3,000
and $5,000 to produce, but he leveraged creative methods.
He borrowed the car and found young, ambitious up-and-                                LIGHTS, CAMERA –
coming talent who needed their own demo reels. He chose                               TRANSACTION!
this particular listing because he felt it was the perfect                            A video play-by-play
house, a sexy and modern place that would show very well                              with Eric Lavey
on film. He plans to do similar videos for other listings, and
is currently working on one for a stunning, multi-million-                            •	 A	young,	well-dressed	
dollar property in the Los Feliz area.                                                businessman pulls into his
   “Each listing is different and each has a carefully crafted                        private, gated home. You never
plan that fits the property just right. It's not just about                           get a great glimpse of his face,
spending the most amount of money; it’s about the quality                             yet you know that this must         ERIC LAVEY

and effectiveness. Every one of my clients receives the                               be his home.
highest level of creativity in their marketing plan.”                                 •	 	The	film	cuts	to	a	completely	remodeled	
   And what tips does he have for agents who are thinking                             Hollywood Hills living room and kitchen
about creating similar lifestyle films for their listings? “The                       where the viewer imagines coming home
key is concept and quality. The high quality will get them                            to every day or entertaining friends on the
for the first few seconds. The clear, simple and attractive                           weekend.
concept will hold them there till the end.”                                           •	 The	actor	pours	himself	a	martini	and	
   He reiterates that agents should test with the experiential                        then walks out onto his back patio to enjoy
video-marketing approach. “Take yourself out of the                                   a relaxing cocktail after a day of work.
video, take time to stage the home properly first and most                            Later, after a few strategically placed shots
importantly, create the whole video to represent a lifestyle                          of the three bedrooms, the businessman
that the buyer can see himself or herself in.” kw                                     heads back out on the town.




“Each listing is different and each has a carefully crafted plan that fits the
property just right. It's not just about spending the most amount of money; it’s
about the quality and effectiveness."
– ERIC LAVEY




        Keller Williams Realty                     Four th Quar ter 2011 • vol. 8 no. 4                                         outfront   19
kw     on fire!




                   SPARK
                   YOUR
                   BUSINESS
                   WITH
                   IGNITE
                      More than 400 Keller
                     Williams market centers
                     participate in the launch!
                       It’s practical. It’s realistic. It’s easy to apply.
                       Ignite, Keller Williams University’s newest
                     course, launched on Oct. 24, 2011, and as the
                      excitement ensued, agents across the United
                     States and Canada also got busy getting leads,
                      working their business, tracking results and
                   servicing buyers and sellers from the appointment
                                  all the way to the close.


20    outfront                          Four th Quar ter 2011 • vol. 8 no. 4   Keller Williams Realty
“Following the outlined steps is easy."
“Ignite gets me to the foundation of my business: prospecting and lead generating."

                           “The exercises forced me into action."
   “I got a lead the day after applying eEdge touch campaigns to my database!"

                “I like the format – actually DOING the work in class."
 "I came out of this class realizing that lead generation is my No. 1 focus, and that
                            shift was worth every minute.”
    Ignite hits market centers across North America again in January 2012.
      Talk to your team leader or visit (http://kwu.kw.com/kwu/ignite).




       Keller Williams Realty           Four th Quar ter 2011 • vol. 8 no. 4    outfront   21
kw          leverage        C AT H Y M A N C H E S T E R | P O R T L A N D, M A I N E                        By Jennifer LeClaire




         How do you know when
         to hire someone?
         CATHY MANCHESTER ON THE RISKS OF EMPLOYING THE WRONG STAFF, FINDING THE RIGHT
         TALENT AND PUTTING SYSTEMS INTO PLACE TO MAKE IT ALL WORK.



     You may have heard the saying, “teamwork makes the dream              for themselves. Through those experiences, I learned that
     work.” Cathy Manchester is living proof that real estate              you have to hire the right person for the right reason or
     dreams come true when you build the right team.                       you will just become a training ground for other agents.”
       Manchester runs a mega agent team in the Greater                    A concept taught in Mega Recruit-Select, Action Training,
     Portland, Maine market center, where she is a top-producing           Leadership and Motivation for Agents (RSTLM™).
     agent and part owner. The residential real estate veteran                Manchester also learned the hard way that she has to
     consistently sells 80 to 100 homes a year. And she’s one of           inspect what she expects. In other words, you can’t hire
     the top four teams in all of the New England Region.                  someone, give them a desk, hand them an assignment and
                                                                           expect them to do the job the way you’d do it. You have to
     A LESSON IN LEVERAGE                                                  train newcomers to meet your expectations and then inspect
     Manchester’s dream is working because her team of three               the finished work to see if it’s being done the way you want
     buyer agents and three administrative staffers. Though                it done.
     they've been together for eight years, her first attempt at              “Early on, I made the mistake of hiring people just like
     leverage came in the early days of her career at Coldwell             me. That’s not what you want to do,” Manchester says. “You
     Banker.
        “I hired a part-time administrator when I was selling
     about 100 units a year. I just couldn’t get it all done –
     and that was when real estate was much simpler,” recalls
     Manchester, who was the first female police chief in Maine
     before building her real estate career. “When you sell 85 to
     100 units a year, there’s not enough hours in the day to do it
     all yourself and have a quality life.”
        When Manchester joined Keller Williams in 2003, she
     learned how to get leverage in her growing real estate
     business through systems and people. Since she had more
     leads than she could handle, she hired an administrator
     before bringing a buyer agent on board. That strategy freed
     her up to follow up on more leads and close more deals. Yet
     there was still a learning curve.
        “My first hire was the wrong profile. I had no idea how to
     recruit and hire people. I’ve made some mistakes – I grew
     too quickly at first and didn’t build the business the right
     way. I didn’t implement the correct systems,” Manchester
     recalls. “I also lost plenty of agents who went out to work                                                 CATHY MANCHESTER



22       outfront                                    Four th Quar ter 2011 • vol. 8 no. 4                    Keller Williams Realty
want to hire people who have the strongest skills for                 GROWING THROUGH PEOPLE
the job you need to get done. You have to hire the right              A humble Manchester is the first to admit that she’s still
profile. And that’s not always going to be your profile.”             learning – she continues attending Family Reunion, Mega
                                                                      Camp, and other Keller Williams events – and she’s actively
EFFECTIVE DELEGATING                                                  adding team members to seize what she views as new
Ultimately, she says it’s all about systems. She credits              strategic opportunities in the Maine real estate market.
The Millionaire Real Estate Agent and the Mega Agent                  After selling 86 homes in 2010 and aiming for 100 in 2011,
mastermind groups with helping her discover and                       Manchester plans to sell 200 units in 2012. That’s double
implement the systems it takes to build and maintain a                her current production.
strong team. Now, she’s teaching those systems to others                 “I am making big changes in the way I am marketing
so that she can keep her well-oiled machine hitting on                my team. My 20 percent will become lead generation,”
all cylinders.                                                        Manchester says. Working with two business coaches and
   Manchester has developed master lists that outline her             utilizing the Internet Marketing Specialist Designation
systems. She has a list for how to list a home, how to                (IMSD) models are the means that will propel her team
run an open house, how to put a house under contract,                 to the 200 units. “The educational opportunities and role
how to deal with a price reduction – in other words,                  models we have available to us at Keller Williams make it
every piece of the transaction puzzle is documented and               easy to succeed!” she says. kw
outlined in detail. The goal is to make it possible for
anyone sitting behind the desk to handle the task – true
                                                                                           Watch the video on the Keller Williams
teamwork.                                                                                  YouTube channel: http://bit.ly/OrgModel
   When a client calls to sell a property, for example,
they make contact with Manchester as the listing agent.
But she soon exits the picture. The seller moves on
to work with an assistant who helps stage the home
and administrative staff to launch an open house.
Manchester’s mantra: clients don’t expect you to do all
the work. They expect you to have systems in place to
get the work done with excellence.
   “When you go to the dentist, a receptionist greets you
and a hygienist cleans your teeth. The dentist comes in
later to take a look,” Manchester says. “Real estate is a
specialty business. I can’t take the best photographs and
I couldn’t enter a property on the Internet if my life
depended on it. That’s why I have a team.”




 "Clients don’t expect you to do

 all the work. They expect you to

 have systems in place to get the

 work done with excellence."
 – C AT H Y M A N C H E S T E R




          Keller Williams Realty                    Four th Quar ter 2011 • vol. 8 no. 4                                       outfront   23
kw      social media




       4                  tools to maximize
                          your social influence
      Maximizing your social influence doesn’t have to take a lot of time or money. In fact, spending 20
      minutes a day tweeting, facebooking and monitoring your friend feed is all you need to keep the
      conversation going. Here’s a quick rundown of a few popular social media management tools that can
      help you build more buzz in minimal time and for less buck.



           SPROUTSOCIAL                                                                    HOOTSUITE
         What it does: Integrates with major social networks                            Claim to fame: Schedule future posts and display
         where consumers are engaging with businesses and                               statistics for your status updates. Manage multiple
         brands.                                                                        contributors and share data access without sharing
         Price: Pricing starts at $9/month for up to 10 social                          passwords.
         profiles. $39/month for 20 profiles, and goes up from                          Price: Free
         there.                                                                         Best for: Getting your status updates out at peak
         Best for: Individual agents looking for a slick interface,                     times of the day and monitoring analytics to tweak
         scheduling, reporting and tracking engagement to                               overall social media strategy. Great for teams with
         grow influence.                                                                multiple members posting.


            ACTIONLY                                                                        TWEETDECK
         What it does: Monitors what people are saying about                            What it does: Allows users to monitor and
         your brand or industry terms on various social media                           manage what’s happening across multiple social
         channels based on keywords over a period of time.                              networking sites such as Twitter, Facebook, LinkedIn
         Price: Free plan for one search. Then it jumps to $50/                         and foursquare all in one powerful and flexible
         month for the premium plan and up from there.                                  custom-based dashboard.
         Best for: Agents with well-established brand presence                          Price: Free
         who want to view what people are saying about them                             Best for: Viewing and managing multiple Twitter
         and grow their influence across social media channels.                         feeds, searches and mentions.




                                                                                                     For more on maximizing your
                                                                                                     social influence, check out MAPS
                                                                                                     Tech Coaching at:
                                                                                                     (http://bit.ly/MAPSTechCoaching)




24     outfront                                           Four th Quar ter 2011 • vol. 8 no. 4                         Keller Williams Realty
Keller Williams Realty   Four th Quar ter 2011 • vol. 8 no. 4   outfront   25
kw         craigslist        L O R I B A L L E N | L A S V E G A S , N E V.                                             By Shelley Seale




               9 basic but powerful Craigslist
               tips to drive traffic to your
               eEdge website                                                                                                                                        /



               AS THE POPULARITY OF CRAIGSLIST GROWS, SO DOES THE NUMBER OF AGENTS ADDING
               THE FREE ONLINE CLASSIFIED SITE TO THEIR MARKETING MIX.



                                          Lori Ballen, associate with the Las Vegas
                                          market center, uses Craigslist and her
                                          eEdge website as part of her Internet
                                          lead generation strategy. Through Keller
                                          Williams training and good testing,
                                          Ballen, who recently appeared onstage at
                                          Mega Technology Camp, has acquired a
                                          number of tools under her belt and a few
                                          secrets up her sleeves. Here she shares
                                          her nine basic but powerful Craigslist
                                          tips.




                          1                                                     2                                                    3
////////////////////////////////////////////////////// ////////////////////////////////////////////////////// ////////////////////////////////////////////////////// /


    ADD YOUR PHONE NUMBER                                    USE THE RIGHT PICTURE                                 TIME YOUR POSTING RIGHT
         Although links are great for lead                  Craigslist buyers see garage doors all                  The only way you’re going to know
         capture, a phone call is always                    day. Show them something different,                     the best time to post in your local
         better. The more serious buyers                    like the kitchen, a very impressive                     market is to test.
         tend to call right away.                           bathroom, the Master bedroom or
                                                            the pool. Your click-throughs will                                              Post throughout
                                                                                                                       How to do it:
                               If you aren't                increase just by doing this one thing.                                          the day at
            How to do it:
                               using a                                                                              different times. For example, if you
         template design that includes                          How to do it:      When creating                    have 12 ads to post in one day, you
         your logo and phone; instead use                                          your ad, click on                might post three ads at 9 a.m., three
         an image. A very clear and legible                 the "Add/Edit Images" and insert your                   at lunch, three at 3 p.m. and the final
         photo of your yard sign is a good                  best pictures into the post. If you’re                  three at 7 p.m. Log the times of the
         solution. When setting up your ad,                 using a service that pulls from the MLS,                day when you get the most click to
         browse for the image and add it in.                make the first image you upload into it,                your Website and repeat!
                                                            the one you want to use in your ad.




    26         outfront                                         Four th Quar ter 2011 • vol. 8 no. 4                         Keller Williams Realty
"I've never seen a website capture leads like the eEdge system does."




                          4                                                      5                                                   6
////////////////////////////////////////////////////// ////////////////////////////////////////////////////// //////////////////////////////////////////////////////



     GET FOUND ON GOOGLE                                        CREATE SEO-FRIENDLY                                    STAND OUT FROM
                                                                 “AD COMPLETION”                                         THE CROWD
       Search engines like Google scan the
       title of your ad. If your title is keyword                 COPY WITH LINKS                                   Craigslist buyers are disqualifying
       friendly, it's likely to get indexed and                                                                     homes, so when you post “$125,000
       found by buyers.                                      Simply translated, create at least a dozen             one-bedroom shack” and they are
                                                             variations of text and a link back to a                really looking for a “$325,000 three-
                              Use niche or long-tail         specific page on your eEdge Website                    bedroom beauty,” you lose the click
          How to do it:                                      to make each ad different and to offer
                              keywords:                                                                             and the opportunity to show them
         •	 Use	the	type	of	community:	“Las	                 another incentive to buyers.                           that you have other properties to
            Vegas Golf Course Homes for Sale”                                                                       meet their needs.
         •	 Use	specific	neighborhood	names:	                                        To make your SEO-
                                                                How to do it:
            “Home for Sale in Desert Shores”                                         friendly text show up                                  Type titles in word
                                                             hyperlinked, copy and paste HTML code                    How to do it:
         •	 Use	features:	“Single	Story	Homes	for	                                                                                          and add symbols,
            Sale in Las Vegas with Pools”                    when you go to create your ad. A simple                then copy and paste them directly into
         •	 Allude	to	financing:	“Approved	Las	              HTML editor such as Blogger will generate              your Craigslist title. Here are a few
            Vegas Short Sale for Sale”                       HTML code for you. Type in your text and               examples:
         •	 Name	nearby	schools:	“Homes	for	                 link it to your website, or specific webpage.
            Sale Near Palo Verde High School”                Next, click on the “HTML” or “Source”                                HEADLINE
                                                             button to copy and paste the HTML code.
                                                                                                                                  HEADLINE


                           7                                                    8                                                    9
////////////////////////////////////////////////////// ////////////////////////////////////////////////////// //////////////////////////////////////////////////////


       USE THE “LOCATION”                                             USE ZIP CODES                                  AVOID POSTING
     PORTION OF THE AD AS AN                                 Many Craigslist buyers learn ZIP
                                                                                                                   THE EXACT SAME AD
       ATTENTION-GRABBER                                     code maps on other sites so they can                 MULTIPLE TIMES IN A DAY
                                                             determine where they want to buy.                     To avoid being “ghosted,” the term
       Stand out over the other posters
       by using this section to add catchy                                                                         used when Craigslist doesn’t post your
                                                                How to do it:     Use the ZIP code                 ad on the front page, make sure each
       one-liners.                                                                in the title and/or              ad is unique in some way.
                                                             in the body when you go to create your
                                  “The owner                 ad. You might say something like:
          How to do it:                                                                                                                 Seven seperate
                                  wants this                                                                          TIP!
       gone!” “It’s ugly, but it’s yours,” “FHA/                                                                                        ad concepts is a
       VA financing welcome,” or “Short Sale                                                                       simple and systematized way of doing it.
                                                          “Located on Lake Mead @ Rampart 89135”
       approved with BofA”




                                                       The key to pulling it all together, Ballen says: “Just use your eEdge website. I’ve been
                                                       doing Internet lead generation a long time, and I’ve never seen a website capture leads
                                                       like the eEdge system does. And with the most recent update, there are even more
                                                       registration triggers at key points in the home search process – it’s awesome!”

                   Keller Williams Realty                          Four th Quar ter 2011 • vol. 8 no. 4                                        outfront           27
kw       business - Q&A       T H E R E S A B A R N A B E I | M E S A - G I L B E R T, A R I Z .       By Shelley Seale




      Out with the negative.
      In with the “I wanna!” attitude
      THERESA BARNABEI ON INFUSING A POSITIVE AND
      PURPOSEFUL SPIRIT IN YOUR BUSINESS.


             In August 2011, after a stint as marketing manager at the United Parcel
             Service and 14 years in leadership with Long Realty Company, Theresa
             Barnabei moved her license to the Keller Williams Mesa-Gilbert, Ariz.
             market center. It was a logical transition for Barnabei considering
             her entire professional foundation is based on training, education and
             coaching. “My attraction to the company can be summed up in one word:
             alignment,” she says.

             As a successful trainer, coach and real estate agent with her
             own personal development company, Barnabei knows
             what it takes to thrive. Her she shares some of that
             hard-earned wisdom.



      Q       WHAT’S THE GREATEST CHALLENGE IN THE
              CURRENT MARKET?
              This market is only a challenge because we don’t embrace
      A       it as the current market! We can’t miss the opportunities
              of today because we are waiting for the market ‘to get
              back to normal.’ Stop waiting. This is the market!

             SOME AGENTS MAY BE ASKING: “HOW DO I
      Q      GET SOME OF THAT?” WHAT IS YOUR AN-
             SWER?                                                                                  THERESA BARNEIBEI
      A      First, keep real estate in perspective. Right now the
             consumer needs a leader to help them make good,
             informed decisions. As the saying goes, "Help enough
             people get what they want, and you can’t help but get
             what you want." Second, determine what you want, know
             why you want it and decide what you will do to get it!
             Then go for it!




           “Persistence with confidence is critical.”
           – THERESA BARNABEI




28    outfront                                        Four th Quar ter 2011 • vol. 8 no. 4             Keller Williams Realty
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KW Outfront Magazine Online Edition

  • 1. A PUBLIC ATION OF K E LLE R W I LLI A M S R E A LTY, INC . FO U RTH QUARTER 2011, VOL .8 NO.4 landscape for 2012 SHORT SALES An inside look at agents riding the short sale wave and the new opportunities coming soon from Keller Williams Realty. pg.6 Trent Chapman Matt Fetick Chris Farkas Jesse Herfel Ryan Overmyer R E E D M O O R E O N H O W T O R E C O G N I Z E A N D H I R E T A L E N T .
  • 2. 2 outfront Third Quar ter 2011 • vol. 8 no. 3 Keller Williams Realty
  • 3. vol. 8, no. 4 - Fourth Quarter 2011 Feedback on Facebook table of contents Do your clients prefer phone calls or text messages? Gaye Buller Ribble: I am texting more and more. Phone calls are 06 POWER OF LEVERAGE 08 SHORT SALE MASTERY Talent, tenacity still more personal and I believe Why hiring talent are necessary from time to time, puts money back in and experience – tactics but for quick details and time- saving responses, texts are great! your business. to become an excellent Eric Benjamin: I always ask them short sale agent. how they want to communicate and I only communicate that way. I have an client who doesn't like texting and phone calls, only 14 16 email. I have another client who DAVE SACHKO: FROM THE only communicates via Facebook. Respect their choices. THE PAY-PER- CHAIRMAN CLICK GUY Convert Internet leads Ted Evans: I communicate in the manner my clients like to receive How he doubled his to appointments now. communication. However, when business. it’s an important message, I prefer to convey it either in person or over the phone, followed up with a summary in an email/letter/text. Robert Rogers: Don't look at 18 26 what they prefer, look at what gets the best response ... They OSCAR CRASH might prefer text, but when I WORTHY COURSE stopped texting and started calling, I started getting referrals Eric Lavey’s real estate Build a great Craigslist like crazy. video goes Hollywood. ad today. Facebook: (www.facebook.com/ kellerwilliamsrealty) Twitter: @kwri and @kwrinews YouTube: (www.youtube.com/kellerwilliams) Flickr: (www.flickr.com/kellerwilliamsrealty) Fourth Quarter 2011, vol. 8 no. 4 Executive Director of Marketing and Communications: Ellen Marks OutFront is published by Keller Williams Realty, Inc. OutFront is a publication of Editor: Laura Price The entire document of OutFront is copyright© 2011 Keller Williams Realty, Inc. by Keller Williams Realty, Inc. No portion may be Copy Editor: Jeff Ryder reproduced in whole or in part by any means, including Associate Art Director: Michael Balistreri electronic retrieval systems, without the express written 1221 South Mopac Expressway, Designer: Caitlin McIntosh permission of the publisher. Editorial or advertising does Suite 400 Contributors: Celesta Brown | Jennifer LeClaire | Ashlea Miller | not constitute advice but is considered informative. Austin, Texas 78746 (512) 327-3070 phone Shelley Seale Copyright© 2011 Keller Williams Realty, Inc. (512) 328-1433 fax Advertising: Tom Freireich (advertising@kw.com) All rights reserved. Job Inquiries: (jobs@kw.com) Keller Williams Realty Third Quar ter 2011 • vol. 8 no. 3 outfront 3
  • 4. 4 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 5. THE TIME TO BEL1EVE IS NOW! Dear Associates, Our company’s success is rooted in our ability to believe. We believe that Keller Williams Realty is built by you and for you and that your brand matters most. We trust in our value proposition and become the No. 1 real estate company unleash your potential, getting you into in our dedication to building careers in North America. Make no mistake; production now. (See page 22 to read worth having, businesses worth owning we understand this is a huge under – how it’s already changing businesses.) and lives worth living. taking. We also know that there is no Profit sharing is the ultimate We believe in these pillars, simply better time than now to seize every manifestation of our philosophy of because they are true! opportunity. It is that unstoppable succeeding through others, and it is Last February at our Family passion which brings us to our next an absolute promise we’ve made to Reunion, we celebrated becoming the objective: to never have a single agent you. As of this December, we’ve shared second-largest real estate company go backward. Simply put, your success $36 million with you! We know that in the United States – an incredible is our goal. number is entirely possible because accomplishment that is entirely yours. of your ingenuity, ambition and your Now, as we look forward to 2012, we’re talent in your local markets. As you ready for the next step. To put it into read through the pages of this issue, perspective, let’s look at where we stand "To use Gary Keller’s you’ll see what we mean. in the competitive landscape. And by the way, let’s remember that It thrills us to say that while other words, we know how our company’s entire belief system is companies have gone down in size by centered on our extraordinary culture. nearly half since 2005, Keller Williams fortunate we are to be We’ve said it before: we’d rather build Realty has grown from 57,600 to a company of good citizens first, and 77,672 associates during the same standing on the shoulders then a company of top producers. We’re time period – an increase of almost 35 lucky that our culture fosters both. percent! To use Gary Keller’s words, You hold the future of our company we know how fortunate we are to be of giants. And those in your hands, and we are absolutely standing on the shoulders of giants. thrilled to serve as stakeholders with And those giants are you! giants are you!" you on our way to the top. We want Our biggest asset as a company is that you to know that we’re going to we are long-term thinkers. We set the continue believing in YOU. We trust bar high, and while reaching the No. 1 Our focus has and always will be on that you’ll keep on believing in yourself spot in our industry is absolutely our providing the very best education, and in Keller Williams Realty. destiny, it’s about becoming the real training and coaching, so that you stay estate company of choice for the long on a forward trajectory in your career haul. and your life. This year, that includes What this means for us is that our Ignite. Replacing CAMP 4:4:3, we trajectory is clear and we are going know the contents of this amazing class Mark Willis, CEO, to remain steadfast on our journey to will spark your career and absolutely Keller Williams Realty Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 5
  • 6. kw teams REED MOORE | ANCHORAGE, ALASKA By Shelley Seale Reed Moore: Mega Agent. Leader. HOW HE FOCUSED ON OPPORTUNITES INSTEAD OF OBSTACLES TO BREAKTHROUGH HIS PERSONAL CEILING OF ACHIEVEMENT. The story is an all too common one. Driven by a business office manager. As his business has grown, he is resolute on plan, an agent secures success on their own by focusing on securing a win-win for all parties, and the hiring process is lead generation, negotiating contracts and closing deals. the moment to get it right. Then one day, they wake up and realize they’re also juggling “The job I match them with has to be something they paperwork, inputting listings, creating marketing materials, were created to do. They need to have a natural energy for and handling the administrative work, all while trying to it or it will steal from their life and mine.” In other words, a show homes and list more properties. bad hire will not only cost you money, it will also cost you Despite the success, there’s just too much to do and the opportunity. And conversely, a good hire will actually save ceiling of achievement starts to descend. you money and will not only make you money, but will also Just a couple of years ago, the above scenario described create opportunities for you and your business. Reed Moore, a once solo agent in Anchorage, Alaska. He Moore starts the hiring process by asking potential new was prosperous, but wearing too many hats to sustain it. A team members about their dreams. If they compliment his, husband and father to four children, he was doing five or six then there’s a probable match. different jobs every day and was making compromises in his life. THE PATH FORWARD Something had to give. Moore is now in a position to build his business to the 6th Level. He’s assembled a loyal team and is investing in those THE BIG DIFFERENCE who are investing themselves in the business. He takes pride Moore laughs when he reflects on his decision to join the in their team’s office environment which is conveniently and Keller Williams Anchorage market center in 2009: “It was purposefully missing offices. “This stimulates the free flow a huge ego-crusher, actually.” Moore was reaching a level of of ideas that I think are critical to the group’s cohesion,” he success that others admired, but he admits that he was flying says. Their weekly meetings are full of affirmations and each blind. “I was doing about $3 million each year, and yet I team member participates in weekly coaching and feedback. didn’t know how much I could or should be making.” He Moore is teaching his team to lean on the tools and decided to take action by attending every training session he resources that Keller Williams Realty makes available to help could and soon realized that he didn’t need to reinvent the push them through slumps in the market. “Success is just on wheel. “Keller Williams gave me all the tools and models the other side,” he believes. “Far more exists in our minds and processes I needed to build a like-minded team and to slow us than truly exists in reality. Sometimes when we continue my growth trajectory.” are on the verge of great opportunity, we contrive fictitious With the help of Recruit-Select, Action Training, and situations that stall our success.” Indeed, difficult market Leadership and Motivation (RSTLM™), Moore learned conditions are an opportunity to build character. “When the how to effectively hire, train, develop and keep great talent. market takes off, we will fly even higher.” Now he leads a high-performance team that consists of five His goal now? To be the No. 1 real estate team by volume buyer agents, a listing partner, a virtual assistant and an in his region. kw "... a good hire will actually save you money and create opportunity for your business." – REED MOORE 6 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 7. JARED BJERKESTRAND ANNIE BJERKESTRAND MICHAEL KING KRISTIN VAN WIE SABRA GILLILAND REED MOORE CHRISTINA LIEN REED MOORE’S TIPS FOR FORMING A GREAT TEAM: 1 2 3 4 Follow Ask people that you trust – past clients, Believe in yourself enough to get the Read The Five Dysfunctions of a the MREA agents, influential businesspeople – to very best. Go for someone who is Team by Patrick Lencioni. models. point you to potential great; you never team members. Tell know their situation. them that you are looking for talent. AVOID Like everything else in this Get attached to the process, THESE TWO HIRING 1 business, follow the models. If you are not in a win-win relationship, 2 not the individual. Ask yourself if they help you get where you MISTAKES! did you veer from the models? want to go. Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 7
  • 8. kw cover story By Ashlea Miller landscape for 2012 SHORT SALES "GET READY, GET AWARE, TAKE ACTION!" RYAN OVERMYER MATT FETICK CHRIS FARKAS JESSSE HERFEL TRENT CHAPMAN ANN ARBOR, MICH. PHILADELPHIA, PA. BELLINGHAM, WASH. MESA-GILBERT, ARIZ. SAN DIEGO, CALIF. 8 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 9. When Matt Fetick, associate with the Brandywine market Anthony Azar, operating principal of two Arizona center, saw short sale transactions erupting on the home market centers and president of Keller Williams Realty front 18 months ago, he ran right toward it. International’s Strategic Alliances division, sees firsthand At the time, while most agents in his market shied away the weight a designation has in whether banks choose to from the unfamiliar deals, he saw a new niche emerging work with one agent over another. “What we’ve found in for his business. Determined to capitalize on it, he enrolled all of our discussions is that banks rely on designations like in short sale-specific Keller Williams courses, pursued top Five Star, CDPE and PartnerFirst as a method of measuring agents in the field for advice and quickly became the leading whether the agent is among the most professional, short sale real estate agent in the greater Philadelphia area. responsive and effective real estate professionals in the “My goal is to become the short sale king of industry. Keller Williams Realty supports those designations Philadelphia,” says Fetick, a former police officer who and is actively working to strengthen those relationships entered the real estate business in 2005. and bring added value to associates.” Something seems to be working. In just a year, he’s helped Herfel, who has been specializing in distressed properties nearly 40 homeowners avoid foreclosure and sell their home since his first short sale in 2000, says it doesn’t have to be as through a short sale. difficult as people make it out to be. This scenario is playing out all across the United States. Still, Fetick says, agents are hesitant to approach the niche And the number of short sales will likely rise as more because of their lack of training and fear of the process and more homeowners turn to them as an alternative to itself. The truth is most real estate professionals already a foreclosure. In fact, according to CoreLogic, a leading have the necessary skills to secure a short sale listing. Most provider of financial, property and consumer information, agents simply need training on completing the short sale short sales will have increased by 25 percent by the end of transaction. Like any new endeavor, “you need to own it 2011. and understand it,” Fetick emphasizes. And while the short sale process presents unique challenges for everyone involved, the agents who specialize GET ORGANIZED in the practice say the transactions are equally rewarding. Once primed on the short sale process, successful agents “In a short sale, sellers are so thankful for the help, and recommend implementing systems to stay organized, save they tend to listen to your expertise and take your advice,” time and generate business, regardless of team size. says Fetick. “They don’t second-guess you. They really Ann Arbor market center-based agent Ryan Overmyer, respect your professional opinion.” for instance, is on track to close up to 110 short sales this Banks, who incur a lot of additional expenses when they year, and is doing it with a team of three. foreclose, benefit too. So, a reasonable short sale is almost “There are teams in my area that are six, seven people always going to net them more money which gives agents strong that do less short sale-specific transactions,” says another opportunity to position themseleves as experts. Overmyer, 32, who got into real estate five years ago and Here, five Keller Williams short sale specialists talk has built his career by specializing in short sales. about the opportunity to offer much-needed assistance, He attributes this volume to three key steps in his process: gain much-needed income, and reveal a few lessons they’ve 1. Pre-qualifying homeowners with the utmost vigilance: learned along the way. “Without the pre-qualification component, we’d face a lot more challenges in the process;” HIT THE GROUND RUNNING 2. Conducting appointments in the office rather than in As with any new venture, understanding the scope, what’s clients’ homes: “This is my biggest time-saver;” and at stake, as well as the process is paramount: all of which 3. Aligning himself with an attorney rather than a third- requires the right combination of education, training and party negotiator: “There’s no possible way I could specialty designations. negotiate hundreds of short sales on my own.” Jesse Herfel of Integrity First Realty in Mesa-Gilbert, Another must: requiring all qualifying documents up Ariz., strongly encourages agents to invest in specialty front – no exceptions – before listing a home. designations that teach agents the ins and outs of the short Chris Farkas, who has worked in real estate investing, sale process. “ renovations, construction and development in the Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 9
  • 10. kw cover story Bellingham, Wash., area for 19 years does the same. "That helped open new doors to potential clients. way, I’m not chasing them down for information that Chapman, for instance, appears on an a.m. radio might be time-sensitive.” She also emphasizes the benefits program each Saturday morning in San Diego County of conducting the face-to-face meeting in the office. to discuss real estate. “I’ve been doing it for so long now “It takes the emotion out of the equation and helps that when people hear me on the radio, they see me as a people think more clearly than they might if they’re sitting trusted voice,” he says. in their living room,” she says. Once the listing is secured, Herfel, Overmyer and Farkas CLEAR THE HURDLES all encourage active use of a short sale-specific software Knowing where the biggest challenges lie – and how system such as Equator or Short Sale Commander to keep to overcome them – will help agents and clients breeze track of the status of the transaction, communicate with all through the process. parties and organize the documents needed by lenders to “I used to have more hurdles than I do now,” says Farkas. close the deal. “If I thoroughly educate my clients from day one, I have a lot less challenges than I used to.” LEAD THE WAY Client education includes guiding them through sticky Every agent knows the power of a referral, and for situations with lenders, so the group suggests becoming an many short sale specialists, referrals from agents who expert on bank negotiations. are unfamiliar with the short sale process are a primary “The trust between banks and the homeowner improves means of securing ongoing business. Trent Chapman, when the agent has experience,” adds Chapman. Which began tapping into the short sale market in California’s makes the relationship between the bank and the agent all Escondido/North County market center in 2007. At least the more important. Indeed, working with the bank often five other agents currently hand off their short sales to him, requires agents to escalate approvals on behalf of their Chapman says. clients. To do this, Chapman advises agents to “find out And he’s not alone. who has the authority and power to say ‘yes’ within the Agent referrals comprise 50 percent of Farkas’ business bank. The key is knowing how to get to the right person too. “That’s what starts to happen when you specialize in instead of dealing with the negotiator only.” short sales,” she says. “You get business from other agents Farkas counteracts the bank problem entirely with what who know their clients need professional assistance.” she considers to be her biggest setback: the valuation Fetick taps into other referral pools as well, such as process. bankruptcy and divorce attorneys. He recently started “Disputing the value is very difficult, especially if you’re educating attorneys about the short not working with a good value and you can’t convince the sale process during lunch- bank otherwise.” and-learn seminars, with the Her advice? Entrench yourself in the valuation process. hope that they’ll refer their Meet with appraisers at the home to offer information they legal clients back to him. might not otherwise have had. An Internet strategy Herfel adds this tip: To get the bank to accept the value, that includes pay-per-click start by listing your price based on current comps in the advertising and regular area. Then, reduce the listing price by 5 percent every two blogging also drives traffic weeks until you have enough proof that the price isn’t to many of their websites, taking hold. “This should give you enough leverage to go while actively positioning to the bank and say, ‘Look, the market rejected us at this them as experts who can help price, and then this price….’” he explains. homeowners out of a possible Overall, Fetick offers a more subtle, strategic approach to foreclosure. In fact, sharing any pitfall you encounter: “Decide when to fight a battle,” what they know through he says. “It’s all about the finesse of the deal.” kw different media channels has 10 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 11. we asked RYAN OVERMYER! What does a listing "The listing presentation is a two-step presentation with a distressed process. First we do an initial over-the- homeowner sound like? phone qualification. If the projected terms are acceptable to the borrower(s) we then schedule an in-office appointment with borrower(s) for a final review and to sign documents. I have them sign anything and everything we could ever need. We also schedule a convenient time for the photographer to visit their home. By the end of the initial call sellers feel so comfortable, even after such a short conversation, because I’m usually able to tell them what the exact terms and/or outcomes of their short sale will likely be. I’m able to do this because I speak with so many banks so often. Also be prepared to field questions about credit, a timeline and their individual financial circumstances. Script: Initial Over-the-Phone Pre-qualification Seller: I’m interested in receiving more information on how a short sale might be a good option for me. Agent: Cer tainly. Would it be OK if I asked you a few quick questions that will help me answer your questions a little more accurately? What do you think your home is currently worth? Deal Breaker for Overmyer: An anticipated sales price of under $100K. How would you rate your home’s current physical condition? Deal Breaker for Overmyer: Poor condition. Who is/are your What are the estimated How many borrowers Are you currently up-to-date or lien holder(s)? mortgage balances? are on the loan(s)? behind on mortgage payments? (Note: Give them the most probable outcome of the sale based on their answers to these questions. For this script, we’ll assume there is one borrower with one Major Bank mortgage loan.) Agent: OK, thank you! Now, let me give you the “cliff notes version” of how the short sale process would most likely go for you. Please keep in mind that the results of your short sale are incredibly bank specific! If you had a lien holder other than Major Bank Mortgage – we’d project a very different outcome. 1 First, we’ll place your home on the market – 4 After we’ve finished assembling your shor t sale package – we’ll submit it to your bank and listed at market value. begin the negotiation process. 2 Then, we’ll obtain a purchaser and a market 5 Since your loan is with Major Bank, here are value offer for your home. the terms we’d expect to receive.* 3 Then, we’ll lock that purchaser in place and assemble your 6 Do these anticipated terms sound shor t sale package. Your lien holder will require various acceptable to you? financial documents – and we’ll email you a checklist of these required documents prior to getting off the phone today. *Bank terms trend quickly. So it’s important that you are giving clients accurate information. If you’re unsure about the probable outcome of the short sale – consult with another short sale expert or wait to offer the expected outcomes until you have reliable information to back up your predictions. Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 11
  • 12. kw Strategic Alliances Division "Get ready, get aware, take action!" PERSPECTIVE: HALF OF ALL HOME OWNERS COULD BE UNDER WATER By Anthony Azar, President, Strategic Alliances, Keller Williams Realty, International When I think about the numbers below, I reflect on the improve on current processes is strengthening. We’re also commentary Mark Willis, CEO, made in a recent meeting positive about the improvements through several new short between Keller Williams regional directors and senior sale lead-routing scenarios, which are helping to alleviate leadership: “The number of short sales coming into the the number of homeowners having to be foreclosed upon by market in 2012 is going to be huge. Agents and leadership putting them in touch with skilled, trained and experienced need to get ready, get aware and take action!” I couldn’t short sale agents. agree more, Mark. In the first scenario, the servicer contacts the pre-screened One of the few positive developments that came out of borrower by letter, informing them of the benefits of a short the flood of homeowners underwater on their mortgage sale and listing out the contact information of agents – in 2011 is the emergence of a targeted, proactive model chosen based on designations, training and past experience. between national real estate franchise companies and several It is up to the homeowner to take action by doing major national servicers. Though some anecdotal evidence nothing or contacting an agent on the list. As part of our shows that the relationship between servicers and short relationship with CitiMortgage, qualified Keller Williams sale agents is stressed at times, the collaborative effort to associates already have this unique opportunity to help tens 2nd Quarter 2011: 5% 5 percent price drop = 16 million underwater 10% 10 percent price drop = 20 million underwater (out of 44 million) 10.9 mil. 10.9 million homes underwater (Source: CoreLogic Q© 2011) Half of all homeowners could be underwater before recovery is complete. (Source: Fitch Ratings) * Anthony Azar is an operating principal of two market centers in Southern Arizona, area director in Southern Arizona and president of the Strategic Alliances Division for Keller Williams Realty International. Anthony has developed and operated successful full-service real estate organizations, including complimentary services in the areas of mortgage, home warranty, property/casualty insurance and title insurance. Anthony brings a wealth of experience and knowledge to this new role, and will be supporting our regional and market center leadership to maximize strategic alliances for associates’ clients, associates and market centers. 12 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 13. of thousands of homeowners on the verge of foreclosure. Qualified Keller Williams associates can log on to MyKW and update their information so that the Keller Williams Realty International Support Center, and by extension our national banking/servicer relationships are aware that our associates are ready, willing, and most importantly, able to assist borrowers in need of their unique capabilities. To learn more about how to become qualified for this program, visit (http://bit. ly/vK5pS8) The second scenario puts action in the hands of the agent. Again, the servicer communicates with pre-screened borrowers to inform them of the short sale option and provides the name and contact information of an agent in their area who can help them. The servicer will then directly, or through a platform, advise agents of that borrowers’ willingness to engage in dialogue and are given the borrower’s contact information. Agents participating in the program are responsible for reaching out to the customer in a timely manner. The banks will then determine their level of interest in proceeding with the short sale based on the performance and, if all goes well, the right parties are in contact to achieve one similar goal: close on the short sale. Keller Williams Realty fully supports both models and is currently working with large servicers to open the opportunities up to our qualified short sale agents including at lead-routing model built into the Keller Williams eEdge system. Short sales are here to stay for the next several years. As a company, we must be prepared to serve our clients while mending our economy – it’s time to take action. kw YOUR NEXT STEPS 1. If you have not already, obtain reputable and recognized short sale certifications such as Five Star or PartnerFirst. 2. Download short sale specific Keller Williams University courses at (http://kwu.kw.com/kwu/distressedproperties). 3. Watch short sale-specific videos on KWConnect (http://bit.ly/kwconnectshortsale). 4. Attend all local and national training opportunities 5. Update your KW.com profile to include your designations. 6. Apply to be a part of the Keller Williams Distressed Property Community. 7. Apply to be a part of the CitiMortgage Help for Homeowners Direct Mail Program. (apps.kw.com/shortsale) MCAs: Create a Short Sale Referral Engine Make sure your market center is sending short sale referral transactions to the right agents! Step 1: Educate agents on taking the time to indicate the type of transaction as a short sale on their Greensheets. Step 2: Mark the transaction as a short sale on the Disbursement Authorization (DA) in your market center’s WinMORE System. Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 13
  • 14. kw technology D A V E S A C H K O | O N TA R I O, C A N A D A By Jennifer LeClaire Southeast Ontario’s "Pay-Per-Click Guy" Doubles Business The pay-per-click guy. That’s how Dave Sachko describes himself. An agent at the Whitby, Ontario market center, Sachko is generating massive Internet leads. In fact, over the past two years he has more than doubled his business by mastering pay-per-click online advertising. Consider the metrics: Sachko is getting 350 legitimate registrations on his website every month. That means 350 people are sharing their phone number or email address with his team in hopes of finding their dream home. And it’s translating into closings. All registrants indicate in the online form the location and price range of their desired home, a well as how far along they are in the home buying process. Dave Sachko Of the 165 transactions Sachko closed in 2010, 90 came from pay-per-click advertising on search engines. Another 60 closings came from referrals and past clients, and the remaining 14 are credited to open houses. “I pay a company to run Google AdWords campaigns for my trade area,” says Sachko, as he prepares to head out to his 100th listing appointment on day 247 of 2011. “When a prospect registers for more information, an automatic email immediately goes out to thank them for contacting us. Then we pick up the phone and call them.” Of course, that phone call doesn’t always turn into an immediate listing. Sachko understands that many people begin searching for a home a year before they are actually ready to buy. In fact, some research shows they begin searching up to 18 months before deciding to buy. But he also knows that getting home shoppers in the pipeline is the first step toward closing a sale. And a good percentage of his Internet-generated leads are ready to buy now. “Our goal is to retain the lead over time through follow-up phone calls, so when they are ready to buy we are right there waiting for them,” Sachko says. “But it’s critical that we respond to each lead as quickly as possible because some visitors have Start your own pay-per-click ad campaign Create an Ad. At the bottom of each search engine Pick Your Keywords. Next you’ll be cued to bid on homepage, you’ll find links to its ad programs. If you already the keywords you’d like your ad to appear in.You Step 1: Step 2: have a Yahoo, MSN, or Google account, you’ll just log in and might start by selecting the same long-tail search get started. Otherwise, you’ll need to sign up. The first thing terms from your blog or website. Once you’ve you’ll do is set up the ad itself which involves choosing a few selected your keywords, you’ll be asked to set your keywords to state your value proposition. maximum cost per click and daily budget. 14 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 15. already talked to four or five agents.” Sachko’s biggest challenge is finding agents that are willing to follow up on the high “When a prospect registers volume of leads he generates. That’s why he just developed a new system to drive for more information, his conversion rate up from the industry standard three percent to a high-performing an automatic e-mail four percent. “Agents are too busy doing open houses immediately goes out to and home inspections and closing deals to consistently follow up the leads,” Sachko thank them for contacting explains. “So I took all the online visitor us. Then we pick up the © 2011 Yvonne Berg/Luminosity Images registrations away from the agents and put together an inside sales staff whose sole job is to follow up on leads, convert them to appointments, and hand them out to buyer phone and call them.” agents.” – DAVE SACHKO Although Sachko made the sweeping change on gut instinct alone, he is seeing early return on his decision. Just 14 days after launching the new system, his inside sales staff booked eight appointments from 88 legitimate leads — and the effort led to one closed home sale. That is a whopping 11 percent conversion rate. The new system puts Sachko is on track to surpass his 2010 numbers this year. Despite his success, Sachko isn’t resting on his online advertising laurels. After five years of working to generate Internet leads through paid search engine marketing efforts, Sachko is launching his Search Engine Optimization, or SEO, strategy. SEO is a set of algorithmic techniques that aim to help websites rank higher in natural search results. Sachko hopes to add 150 to 200 leads once the system is complete. Sachko is the first to admit that business hasn’t stopped booming in Whitby, a market in Southern Ontario just east of Toronto on the north shore of Lake Ontario. But he’s also the first to admit that traditional leads started drying up about five years ago. In other words, Sachko became the pay-per-click guy out of sheer necessity. Sachko, who came to Keller Williams from RE/MAX to tap into the systems and resources, admits his moniker was an experience full of trial and error. He made a significant investment in the early years, taking one step forward and two steps back, to find the success he has today. Despite his success with Internet marketing—and the possibilities that lie before him with his SEO and social media ventures—Sachko isn’t abandoning his real estate lead generation roots. He is quick to point out that he was a referral-based agent before he became the pay-per-click guy. And he’s still a big believer in open houses and community events. “Gary Keller talks about having pillars to your business,” Sachko says. “My new business has shifted from print to Internet, but I still have the pillar of referrals. And generating leads on the Internet is more challenging because we have a more educated public. Even though the Internet can be a very effective lead generation tool, you can’t live off the Internet alone.” kw Buyers and sellers search, click on your ad and find you. This When bidding on keywords, check back is where your pay-per-click advertising needs you to jump in. Step 3: The measure of your website’s success isn’t traffic or unique TIP! daily to see how well your ad is working. If it is doing well, you’ll have the visitors – it is in appointments set. Make sure your ad is opportunity to further lower your bid. delivering on its promise, and that you have a lead capture and convert strategy in place to set the appointment! Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 15
  • 16. kw lead generation Q&A What Happens to Internet Leads? YOU CAN’T EXPECT TO MEET TODAY’S CHALLENGES WITH YESTERDAY’S TOOLS AND EXPECT TO BE IN BUSINESS TOMORROW. By Gary Keller, Chairman of the Board, Keller Williams Realty International, with Kristian Peter & Carissa Acker Research shows that consumers start looking at homes online up to 18 months before they decide to buy. Contrary to popular belief, “Internet consumers” don’t really exist. Actually, all of our customers are Internet consumers and having a web strategy has become as much a part of our daily work as calling or getting into a car to meet a client. The good news is a lot of agents have figured out how to get consumers to their website. Where most struggle is in failing to successfully follow up with these leads and convert them to an appointment. A recent study by MIT and LeadResponseManagement.org found that calling a lead within the first five minutes is imperative. In fact, they discovered that the odds of qualifying a lead is four times higher if you call within the first five minutes. If that’s not enough to get you calling quickly, waiting to call within 10 to 30 minutes decreases your chance of converting the lead by 21 times! Recently, I had the pleasure of talking with Kristian Peter, a top-producing agent with the Escondido/North County (Calif.) market center, and Carissa Acker, another top-producing agent in our Denton (Texas) market center, about their lead capture and follow-up strategies. We dove into their strategies to answer the question … what happens to Internet leads? Here’s an excerpt from the conversation. GK Gary Keller: Give me a snapshot of your business Kristian: On a monthly basis, we get about 2,000. and tell me what you do with Internet leads. KP All the buyer leads come in from the web through email, so we have a full-time buyer coordinator who Kristian Peter: Right now we’ve got about 110 intercepts them, tracks them based on the source and KP listings, so we generate an awful lot of buyer calls then puts them into the database. Once the leads are in and web leads that come directly from our website the database, one of our 11 buyer agents is assigned a lead and third-party sites. I have a little bit different opinion based on geography. They will then follow up with the on the way that we generate leads off of our websites. lead. I let the buyers come in and search until their heart’s content. They don’t need to register for anything. As soon GK Gary: So 2,000 leads is about 500 per week. as they’ve found a property that they want to take a look Between 11 people that’s 50 web leads. How do at, or they want more information on, they’ll request your buyer agents get in touch with them? it. They can at any time create a registration and log-in information on their saved searches, but we don’t require KP Kristian: Typically by phone or email. About 90 them to do that. I’ve found that if you let them take care percent of our leads don’t put in a phone number, of everything the way they want, then they kind of pre- so our buyer agents are usually emailing them qualify themselves. consistently for six months or until they respond through our follow-up action plans in our CRM. We convert Gary: I got ya. Let me ask you a basic question: around 2 percent of our web leads and 10 percent if they GK How many Internet leads do you actually generate call us directly. on a, let’s say, monthly basis? GK Gary: Got it! Carissa – tell me how your 16 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 17. organization is set up to handle Internet leads that come in. Carissa Acker: Right now we have about 75 CA listings. Our main source of web-generated Consumer Searches leads comes from our BoomTown website, For your site to be successful you must which is our real estate marketing platform and have a strong lead generation plan that branded website. When a consumer starts to search pulls, pushes and leads people to it. for properties, the site lets them see the first property This is based on your offline marketing, listing detail. The second property is where the lead online search engine marketing or capture form appears requesting their information. online related sites marketing. And we’re getting pretty good phone numbers – between 30 and 40 percent. Then the system automatically assigns the leads out. Lead Capture! GK Gary: What do you mean, assigns them? Use one of the four lead capture strategies. Up-Front, Pre-Results, Carissa: We have our three buyer agents on Limited Results, Open Search with CA a two-to-one rotation. So, it automatically Drip. Read Tactic No.6, Catch People sends out approximately 100 leads a month in Your Web in SHIFT: How Top Real to each buyer agent. Once we have those Estate Agents Tackle Tough Times. leads in our system, we initiate a modified version of Ben Kinney’s “Ten Days of Pain” for our different categories which include “New to Qualify,” “Hot,” and “Nurture and Watch.” But we’re finding that Call them! we’re getting so many leads that we’re going to have Studies show that the odds of to hire someone who can do a drip system all day qualifying a lead is four times long so that our buyer agents can focus on calling higher if you call within the first five people. minutes. Don’t worry if they are still on your site – evidence shows that Gary: So what’s the conversion rate you’re GK experiencing? can increase your odds as well. Carissa: We’re probably at about 3 to 4 CA percent. It could be more, though right now Drip Campaign we’re trying to figure out how to structure Whether you convert the lead or not, our team to manage all the leads coming in. This put them on a drip campaign. This can is the start of our sixth month using the BoomTown be passive such as search-saver with web platform, and you’re right when you said that email, active such as an 8 x 8 or 33 people get so many leads that they’re just inundated – Touch program through the KW eEdge and that’s basically what happened. system or Interactive which would involve specific ongoing follow-up through calls Gary: There is a way to combat that and and emails. GK it’s based entirely on the Organizational Model outlined in The Millionaire Real Estate Agent. And that is to take the very best MREA Team Model and say, “You’re the buyer specialist. And all leads When you become overwhelmed are coming to you.” And “Oh, by the way, you’re with Internet Leads and conversion going to call them, and you’re going to talk to them. rate dips below 2 percent, it’s time And you’re going to set appointments, meet with to hire staff. them and qualify them. And then you’re going to send them out with showing assistants.” And that buyer specialist is going to have at least one personal assistant if not two who may also be transaction Agent Mountain coordinators. Now you’re able to work the Internet To hear the entire conversation leads and convert them to consistently do 15 to 20 on Internet Lead Conversion and transactions in a month. employing the MREA Organizational Model to support it, visit (http://bit. Hear the full conversation on Agent Mountain ly/InternetLeads). (http://bit.ly/InternetLeads). Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 17
  • 18. kw video E R I C L A V E Y | H O L LY W O O D, C A L I F O R N I A By Shelley Seale The making of real estate’s most talked about listing video A BEHIND-THE-SCENES LOOK AT THE OSCAR-WORTHY SHORT FILM PRODUCED BY KELLER WILLIAMS AGENT, ERIC LAVEY A well-dressed, attractive man pulls his Lexus up to a hip more excited to make that commitment and pull the mid-century house in the Hollywood Hills. After freshening trigger.” up, mixing a martini in his high-tech kitchen and making a Lavey’s lifestyle films for the homes he represents few phone calls, he heads back out to some hip Hollywood demonstrate the first rule of sales: don’t sell the features, sell nightspots. When his car rolls back into the driveway later the benefits. It’s not about the design, the high-tech gadgets that night, the passenger door opens and … fades to black. or the gourmet kitchen – it’s all about what sort of lifestyle Is it an MTV music video? No, it’s the marketing film for the buyer will have in that house, and his or her ability to Eric Lavey’s recent listing at 6816 Pacific View Drive. And it envision a life there. garnered a buyer within 30 days. “There are tons of homes for sale, and there are even a The clip is a smooth, professional production befitting of few other videos out there,” Lavey says. “But those videos the Hollywood location, and it doesn’t look anything like a are usually an agent with a portable digital video camera typical real estate listing video. Lavey, who is with the Keller droning on about the stainless steel appliances.” And while Williams Beverly Hills market center, calls it a “lifestyle it's a quick-and-easy way to get videos online, a better film.” strategy is to actually focus on how the family will gather “The same person who purchases a Mercedes, BMW or around the kitchen island and cook together. “That’s an Audi, plans a two-week cruise aboard a 6-star yacht, or even experiential sell.” buys an iPad is already accustomed – even expecting – this Lavey believes that clients should expect this type type of showcase,” he says. “And it has always surprised of service and creativity, not just view it as an add-on. me that the most important purchase they will ever make Particularly in his marketplace, where sellers usually pay 6 – their home – just has a generic MLS sheet and maybe a percent in commissions, they deserve the very best chance boring brochure. There seemed to be a massive void there.” to accomplish the goal of the highest price in the shortest As a consumer himself, Lavey loves to see the product amount of time. in action, especially when it comes to higher involvement That’s exactly what the Pacific View Drive video did. The purchases. “I get a clear and easy sense of how the product clip quickly went viral, thanks to the power of social media, will live and operate in my lifestyle. It just gets me even appearing on AOL and eventually racking up nearly 10,000 18 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 19. Watch the vide o: http://bit.l y/ericlavey hits – including the eventual buyer, who went into escrow within 30 days. Lavey says that is about one-third the average days on market for the neighborhood. “The important thing to remember is that the video is only a component that complements the entire marketing plan,” Lavey advises. “That includes proper staging, true magazine-quality photography, spectacular and simple property-specific websites – and the video. And all of that is before a flawless launch of the property. The video is for potential buyers to either watch at home (anywhere in the world) before they see the house, or to get them excited about it all over again after they’ve toured the home. It’s another exciting ‘take-away’ for the buyer, a virtual brochure.” Lavey estimates that such videos cost between $3,000 and $5,000 to produce, but he leveraged creative methods. He borrowed the car and found young, ambitious up-and- LIGHTS, CAMERA – coming talent who needed their own demo reels. He chose TRANSACTION! this particular listing because he felt it was the perfect A video play-by-play house, a sexy and modern place that would show very well with Eric Lavey on film. He plans to do similar videos for other listings, and is currently working on one for a stunning, multi-million- • A young, well-dressed dollar property in the Los Feliz area. businessman pulls into his “Each listing is different and each has a carefully crafted private, gated home. You never plan that fits the property just right. It's not just about get a great glimpse of his face, spending the most amount of money; it’s about the quality yet you know that this must ERIC LAVEY and effectiveness. Every one of my clients receives the be his home. highest level of creativity in their marketing plan.” • The film cuts to a completely remodeled And what tips does he have for agents who are thinking Hollywood Hills living room and kitchen about creating similar lifestyle films for their listings? “The where the viewer imagines coming home key is concept and quality. The high quality will get them to every day or entertaining friends on the for the first few seconds. The clear, simple and attractive weekend. concept will hold them there till the end.” • The actor pours himself a martini and He reiterates that agents should test with the experiential then walks out onto his back patio to enjoy video-marketing approach. “Take yourself out of the a relaxing cocktail after a day of work. video, take time to stage the home properly first and most Later, after a few strategically placed shots importantly, create the whole video to represent a lifestyle of the three bedrooms, the businessman that the buyer can see himself or herself in.” kw heads back out on the town. “Each listing is different and each has a carefully crafted plan that fits the property just right. It's not just about spending the most amount of money; it’s about the quality and effectiveness." – ERIC LAVEY Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 19
  • 20. kw on fire! SPARK YOUR BUSINESS WITH IGNITE More than 400 Keller Williams market centers participate in the launch! It’s practical. It’s realistic. It’s easy to apply. Ignite, Keller Williams University’s newest course, launched on Oct. 24, 2011, and as the excitement ensued, agents across the United States and Canada also got busy getting leads, working their business, tracking results and servicing buyers and sellers from the appointment all the way to the close. 20 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 21. “Following the outlined steps is easy." “Ignite gets me to the foundation of my business: prospecting and lead generating." “The exercises forced me into action." “I got a lead the day after applying eEdge touch campaigns to my database!" “I like the format – actually DOING the work in class." "I came out of this class realizing that lead generation is my No. 1 focus, and that shift was worth every minute.” Ignite hits market centers across North America again in January 2012. Talk to your team leader or visit (http://kwu.kw.com/kwu/ignite). Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 21
  • 22. kw leverage C AT H Y M A N C H E S T E R | P O R T L A N D, M A I N E By Jennifer LeClaire How do you know when to hire someone? CATHY MANCHESTER ON THE RISKS OF EMPLOYING THE WRONG STAFF, FINDING THE RIGHT TALENT AND PUTTING SYSTEMS INTO PLACE TO MAKE IT ALL WORK. You may have heard the saying, “teamwork makes the dream for themselves. Through those experiences, I learned that work.” Cathy Manchester is living proof that real estate you have to hire the right person for the right reason or dreams come true when you build the right team. you will just become a training ground for other agents.” Manchester runs a mega agent team in the Greater A concept taught in Mega Recruit-Select, Action Training, Portland, Maine market center, where she is a top-producing Leadership and Motivation for Agents (RSTLM™). agent and part owner. The residential real estate veteran Manchester also learned the hard way that she has to consistently sells 80 to 100 homes a year. And she’s one of inspect what she expects. In other words, you can’t hire the top four teams in all of the New England Region. someone, give them a desk, hand them an assignment and expect them to do the job the way you’d do it. You have to A LESSON IN LEVERAGE train newcomers to meet your expectations and then inspect Manchester’s dream is working because her team of three the finished work to see if it’s being done the way you want buyer agents and three administrative staffers. Though it done. they've been together for eight years, her first attempt at “Early on, I made the mistake of hiring people just like leverage came in the early days of her career at Coldwell me. That’s not what you want to do,” Manchester says. “You Banker. “I hired a part-time administrator when I was selling about 100 units a year. I just couldn’t get it all done – and that was when real estate was much simpler,” recalls Manchester, who was the first female police chief in Maine before building her real estate career. “When you sell 85 to 100 units a year, there’s not enough hours in the day to do it all yourself and have a quality life.” When Manchester joined Keller Williams in 2003, she learned how to get leverage in her growing real estate business through systems and people. Since she had more leads than she could handle, she hired an administrator before bringing a buyer agent on board. That strategy freed her up to follow up on more leads and close more deals. Yet there was still a learning curve. “My first hire was the wrong profile. I had no idea how to recruit and hire people. I’ve made some mistakes – I grew too quickly at first and didn’t build the business the right way. I didn’t implement the correct systems,” Manchester recalls. “I also lost plenty of agents who went out to work CATHY MANCHESTER 22 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 23. want to hire people who have the strongest skills for GROWING THROUGH PEOPLE the job you need to get done. You have to hire the right A humble Manchester is the first to admit that she’s still profile. And that’s not always going to be your profile.” learning – she continues attending Family Reunion, Mega Camp, and other Keller Williams events – and she’s actively EFFECTIVE DELEGATING adding team members to seize what she views as new Ultimately, she says it’s all about systems. She credits strategic opportunities in the Maine real estate market. The Millionaire Real Estate Agent and the Mega Agent After selling 86 homes in 2010 and aiming for 100 in 2011, mastermind groups with helping her discover and Manchester plans to sell 200 units in 2012. That’s double implement the systems it takes to build and maintain a her current production. strong team. Now, she’s teaching those systems to others “I am making big changes in the way I am marketing so that she can keep her well-oiled machine hitting on my team. My 20 percent will become lead generation,” all cylinders. Manchester says. Working with two business coaches and Manchester has developed master lists that outline her utilizing the Internet Marketing Specialist Designation systems. She has a list for how to list a home, how to (IMSD) models are the means that will propel her team run an open house, how to put a house under contract, to the 200 units. “The educational opportunities and role how to deal with a price reduction – in other words, models we have available to us at Keller Williams make it every piece of the transaction puzzle is documented and easy to succeed!” she says. kw outlined in detail. The goal is to make it possible for anyone sitting behind the desk to handle the task – true Watch the video on the Keller Williams teamwork. YouTube channel: http://bit.ly/OrgModel When a client calls to sell a property, for example, they make contact with Manchester as the listing agent. But she soon exits the picture. The seller moves on to work with an assistant who helps stage the home and administrative staff to launch an open house. Manchester’s mantra: clients don’t expect you to do all the work. They expect you to have systems in place to get the work done with excellence. “When you go to the dentist, a receptionist greets you and a hygienist cleans your teeth. The dentist comes in later to take a look,” Manchester says. “Real estate is a specialty business. I can’t take the best photographs and I couldn’t enter a property on the Internet if my life depended on it. That’s why I have a team.” "Clients don’t expect you to do all the work. They expect you to have systems in place to get the work done with excellence." – C AT H Y M A N C H E S T E R Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 23
  • 24. kw social media 4 tools to maximize your social influence Maximizing your social influence doesn’t have to take a lot of time or money. In fact, spending 20 minutes a day tweeting, facebooking and monitoring your friend feed is all you need to keep the conversation going. Here’s a quick rundown of a few popular social media management tools that can help you build more buzz in minimal time and for less buck. SPROUTSOCIAL HOOTSUITE What it does: Integrates with major social networks Claim to fame: Schedule future posts and display where consumers are engaging with businesses and statistics for your status updates. Manage multiple brands. contributors and share data access without sharing Price: Pricing starts at $9/month for up to 10 social passwords. profiles. $39/month for 20 profiles, and goes up from Price: Free there. Best for: Getting your status updates out at peak Best for: Individual agents looking for a slick interface, times of the day and monitoring analytics to tweak scheduling, reporting and tracking engagement to overall social media strategy. Great for teams with grow influence. multiple members posting. ACTIONLY TWEETDECK What it does: Monitors what people are saying about What it does: Allows users to monitor and your brand or industry terms on various social media manage what’s happening across multiple social channels based on keywords over a period of time. networking sites such as Twitter, Facebook, LinkedIn Price: Free plan for one search. Then it jumps to $50/ and foursquare all in one powerful and flexible month for the premium plan and up from there. custom-based dashboard. Best for: Agents with well-established brand presence Price: Free who want to view what people are saying about them Best for: Viewing and managing multiple Twitter and grow their influence across social media channels. feeds, searches and mentions. For more on maximizing your social influence, check out MAPS Tech Coaching at: (http://bit.ly/MAPSTechCoaching) 24 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 25. Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 25
  • 26. kw craigslist L O R I B A L L E N | L A S V E G A S , N E V. By Shelley Seale 9 basic but powerful Craigslist tips to drive traffic to your eEdge website / AS THE POPULARITY OF CRAIGSLIST GROWS, SO DOES THE NUMBER OF AGENTS ADDING THE FREE ONLINE CLASSIFIED SITE TO THEIR MARKETING MIX. Lori Ballen, associate with the Las Vegas market center, uses Craigslist and her eEdge website as part of her Internet lead generation strategy. Through Keller Williams training and good testing, Ballen, who recently appeared onstage at Mega Technology Camp, has acquired a number of tools under her belt and a few secrets up her sleeves. Here she shares her nine basic but powerful Craigslist tips. 1 2 3 ////////////////////////////////////////////////////// ////////////////////////////////////////////////////// ////////////////////////////////////////////////////// / ADD YOUR PHONE NUMBER USE THE RIGHT PICTURE TIME YOUR POSTING RIGHT Although links are great for lead Craigslist buyers see garage doors all The only way you’re going to know capture, a phone call is always day. Show them something different, the best time to post in your local better. The more serious buyers like the kitchen, a very impressive market is to test. tend to call right away. bathroom, the Master bedroom or the pool. Your click-throughs will Post throughout How to do it: If you aren't increase just by doing this one thing. the day at How to do it: using a different times. For example, if you template design that includes How to do it: When creating have 12 ads to post in one day, you your logo and phone; instead use your ad, click on might post three ads at 9 a.m., three an image. A very clear and legible the "Add/Edit Images" and insert your at lunch, three at 3 p.m. and the final photo of your yard sign is a good best pictures into the post. If you’re three at 7 p.m. Log the times of the solution. When setting up your ad, using a service that pulls from the MLS, day when you get the most click to browse for the image and add it in. make the first image you upload into it, your Website and repeat! the one you want to use in your ad. 26 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty
  • 27. "I've never seen a website capture leads like the eEdge system does." 4 5 6 ////////////////////////////////////////////////////// ////////////////////////////////////////////////////// ////////////////////////////////////////////////////// GET FOUND ON GOOGLE CREATE SEO-FRIENDLY STAND OUT FROM “AD COMPLETION” THE CROWD Search engines like Google scan the title of your ad. If your title is keyword COPY WITH LINKS Craigslist buyers are disqualifying friendly, it's likely to get indexed and homes, so when you post “$125,000 found by buyers. Simply translated, create at least a dozen one-bedroom shack” and they are variations of text and a link back to a really looking for a “$325,000 three- Use niche or long-tail specific page on your eEdge Website bedroom beauty,” you lose the click How to do it: to make each ad different and to offer keywords: and the opportunity to show them • Use the type of community: “Las another incentive to buyers. that you have other properties to Vegas Golf Course Homes for Sale” meet their needs. • Use specific neighborhood names: To make your SEO- How to do it: “Home for Sale in Desert Shores” friendly text show up Type titles in word hyperlinked, copy and paste HTML code How to do it: • Use features: “Single Story Homes for and add symbols, Sale in Las Vegas with Pools” when you go to create your ad. A simple then copy and paste them directly into • Allude to financing: “Approved Las HTML editor such as Blogger will generate your Craigslist title. Here are a few Vegas Short Sale for Sale” HTML code for you. Type in your text and examples: • Name nearby schools: “Homes for link it to your website, or specific webpage. Sale Near Palo Verde High School” Next, click on the “HTML” or “Source” HEADLINE button to copy and paste the HTML code. HEADLINE 7 8 9 ////////////////////////////////////////////////////// ////////////////////////////////////////////////////// ////////////////////////////////////////////////////// USE THE “LOCATION” USE ZIP CODES AVOID POSTING PORTION OF THE AD AS AN Many Craigslist buyers learn ZIP THE EXACT SAME AD ATTENTION-GRABBER code maps on other sites so they can MULTIPLE TIMES IN A DAY determine where they want to buy. To avoid being “ghosted,” the term Stand out over the other posters by using this section to add catchy used when Craigslist doesn’t post your How to do it: Use the ZIP code ad on the front page, make sure each one-liners. in the title and/or ad is unique in some way. in the body when you go to create your “The owner ad. You might say something like: How to do it: Seven seperate wants this TIP! gone!” “It’s ugly, but it’s yours,” “FHA/ ad concepts is a VA financing welcome,” or “Short Sale simple and systematized way of doing it. “Located on Lake Mead @ Rampart 89135” approved with BofA” The key to pulling it all together, Ballen says: “Just use your eEdge website. I’ve been doing Internet lead generation a long time, and I’ve never seen a website capture leads like the eEdge system does. And with the most recent update, there are even more registration triggers at key points in the home search process – it’s awesome!” Keller Williams Realty Four th Quar ter 2011 • vol. 8 no. 4 outfront 27
  • 28. kw business - Q&A T H E R E S A B A R N A B E I | M E S A - G I L B E R T, A R I Z . By Shelley Seale Out with the negative. In with the “I wanna!” attitude THERESA BARNABEI ON INFUSING A POSITIVE AND PURPOSEFUL SPIRIT IN YOUR BUSINESS. In August 2011, after a stint as marketing manager at the United Parcel Service and 14 years in leadership with Long Realty Company, Theresa Barnabei moved her license to the Keller Williams Mesa-Gilbert, Ariz. market center. It was a logical transition for Barnabei considering her entire professional foundation is based on training, education and coaching. “My attraction to the company can be summed up in one word: alignment,” she says. As a successful trainer, coach and real estate agent with her own personal development company, Barnabei knows what it takes to thrive. Her she shares some of that hard-earned wisdom. Q WHAT’S THE GREATEST CHALLENGE IN THE CURRENT MARKET? This market is only a challenge because we don’t embrace A it as the current market! We can’t miss the opportunities of today because we are waiting for the market ‘to get back to normal.’ Stop waiting. This is the market! SOME AGENTS MAY BE ASKING: “HOW DO I Q GET SOME OF THAT?” WHAT IS YOUR AN- SWER? THERESA BARNEIBEI A First, keep real estate in perspective. Right now the consumer needs a leader to help them make good, informed decisions. As the saying goes, "Help enough people get what they want, and you can’t help but get what you want." Second, determine what you want, know why you want it and decide what you will do to get it! Then go for it! “Persistence with confidence is critical.” – THERESA BARNABEI 28 outfront Four th Quar ter 2011 • vol. 8 no. 4 Keller Williams Realty