Welcome to my journey of implementing Gary Keller’s systems into my real estate sales business.
Who is Gary Keller?
He’s the co-founder of Keller Williams Realty International and best selling author of, “The Millionaire Real Estate Agent”. You can find more information about Gary Keller on his Wikipedia page.
What would Gary Keller expect?
From my understanding, a lot.
What would he change about my business?
Everything. Bringing a systematic approach to real estate has been Gary’s biggest contribution to the real estate industry. Keller Williams is one of the first real estate company to move their training in-house versus using coaching services from various real estate coaching companies.
How would I perform over the next 12 months with this idea as my guiding principle?
We shall see.
At company event several years ago, Gary Keller was sharing his philosophy about health. He stated that everyone in the audience would benefit from finding a health philosophy or guru that they could bet their life on. He was trying to get the audience to see that 2nd guessing the given philosophy you’ve chosen keeps you from making a commitment to any philosophy.
This page is dedicated to me committing myself to implement Keller Williams philosophies inside Ask A Walker.
Every Monday I’ll post a video updating you on my journey incorporating Gary Keller’s teachings, practices, and systems into my real estate business.
Think of this journey as a video journal. Using only Gary’s books, training materials, and videos as inspiration for implementing his system. It is possible to hire a MAPS coach to walk me through the process. MAPS coaching is dedicated to helping agents implement the KW systems into their business. What fun would that be?
Hopefully, I answer the question, “How do I get mentored by someone without having access to that individual?”
The journey starts August 1, 2018, and runs a full year.
What’s my Goal?
Update September 13, 2018:
After completing the Millionaire Real Estate Agent and the Keller Williams University Ignite course, I know what my minimum weekly activities will consist of for the rest of this challenge.
Here’s my weekly activity goal:
100 – conversations with new individuals
50 – contacts added to my database
50 – thank you cards written and sent
10 – properties previewed
Using a 48 week year (4 weeks off for vacation and sick time) should accumulate to the following totals for the year:
4,800 – conversations with new individuals
2,400 – added to the database
2,400 – thank you cards written and sent
480 – properties previewed
Click here to see the Frequently Asked Questions about this journey.
Day 1: August 1, 2018
Day 6, Week 0
Day 13, Week 1
Day 20, Week 2
Notes from this week.
54 – contacts
50 – added to database
50 – thank you notes written
10 – homes previewed
1 – Seller Listing Appointments
0 – Seller Listings Signed
0 – Buyer Listing Appointments
0 – Buyer Listings Signed
1. Started the week off stronger with activities to ensure goal was reached our exceeded with activities that lead to results. Increased contacts at beginning of the week.
2. Figured out a way to track database additions through this series. By using a two contact types known as database keys to act as placeholders for the week and year. The weekly placeholder will be the primary key and the yearly tag will be #MYCoachGK. These two placeholders will be used in the contact type section of the CRM.
3. Figured out a budget for 8×8 and 33 touch program. If you add 50 people to your database every week, you’ll have a database of 2,000+ people in one calendar year. This exceeds the number required in the MREA for a million dollar database and should be sufficient considering that people will be moving in and out of the database throughout the year.
Opportunities for Growth
1. Turn around touches quicker. When making initial contact with a prospect that will turn into an addition into the database, I noticed that there was a lag between the initial touch (usually phone call) and the start of the touch campaign.
2. Increase overall contacts. Notice how my appointments are low. In order to increase my chances of securing appointments, I need to increase my touches. At least, that’s the way I believe it would work at the beginning of this process. We’ll test this idea as we go through the program.
3. Start working at the same time every day. Working on building this predictable business means working a structured scheduled every day. While I was hitting my contacts goals every week, I was not hitting my time to start those activities every day. Here’s a sample schedule I’m using for most days:
9 am-noon – Phone Call Prospecting
noon – 12:30 pm Follow up Calls
12:30 pm – 1 pm Lunch
1 – 1:30 pm – Office Stuff
1:30 – 3:30 pm – Appointments or Additional Lead Generation
3:30 – 4 pm – Follow up Phone Calls
4 – 5 pm – Database Maintenance
CEO Rating: 3.5
What will you do differently next week?
1. Move from 50 contacts to 100 contacts
2. If no appointments set in the afternoon, add additional prospecting to the time slot.
3. Finalize 8×8 system in CRM for two types of contacts:
A. Owner Occupied
B. Absentee Owners
4. Move all task to one notebook to minimize incomplete projects at the end of the week.
Day 27, Week 3
Day 41, Week 5
94 – Contacts
49 – Added to Database
49 – Thank You Notes
10 – Homes Previewed
1 – Seller Listing Appointment
0 – Seller Listings Taken
0 – Buyer Listing Appointment
0 – Buyer Listings Taken
50 – Pages read in Millionaire Real Estate Agent
Day 48, Week 6
Day 55, Week 7
Day 62, Week 8
How many people were you in your database at the beginning of this challenge?
My CRM stated that I had 1106 records in my database. None of these records were receiving regular touches on a systematic basis. Week B-W06-Y2018 is when I started moving these contacts into the 8×8 program.
What is your primary form of prospecting?
Some people call it “circle prospecting”. I call it “zip code prospecting”. I call through entire zip codes using my market analysis script.
What’s wrong with circle prospecting?
Nothing. It would take too much time to track what areas I’ve called versus using entire zip codes. When I call through a zip code, it takes up to 8 days to make it through 1200 – 1800 phone numbers.
What’s the difference between cold calls and warm calls?
First, let’s define cold call and warm call. A cold call is to a phone call to an individual that hasn’t expressed an interest in your service. Warm calls are to existing members of your database or individuals who have expressed interest in selling real estate in the past. Expired listings, withdrawn listings, or for sale by owners are all good examples of warm calls.
Wouldn’t making warm calls produce more now business compared to cold calls?
That’s correct. It also produces more business from individuals who are being pursued by other agents that are searching for “now business”. By building a database from cold calls into geographic zip codes close to my home office, I’m laying the foundation to grab market share in my local market versus taking listings all over the area.
Looking at the above photo, you’ll see that the Economic Model is to know your numbers. Once you know your numbers, you build a database to hit those numbers through the Lead Generation Model.
Competition drives down price. Cold calls remove the competition aspect of the prospecting business. It also allows me to develop a database filled with prospects that understand my value proposition because they’ve received my marketing materials over an extended period of time.
Cold calls = Long game
Long Game = Less competition
What criteria are you using to add to a contact your database? With
1. Listen to my pitch
2. Name of person on the phone (sometimes the wife answers the phone when I have the husband’s name on file and I don’t have the ability to capture the information. I set up a system for my virtual partner to look up the information in the tax records. If we are not able to procure the name, we delete the record from the database.)
3. Accurate Mailing Address
4. Accurate Phone Number
Do you leave a voicemail message?
Are you dialing home phone numbers, cell phone numbers or work phone numbers?
Only home phone numbers.
What systems do you use?
Phone Numbers – Cole Realty Resource
Phone Dialer – Mojo
CRM – Top Producer
Are these systems the best?
Cole and Mojo, yes. Top Producer will get me by until Keller Williams releases Keller Cloud CRM.
Can you share your Thank You Card Script?
Front of Custom Thank You Card
Back of Custom Thank You Card
Can you share the specifics of your Custom Thank You Cards for Real Estate Agents order you placed with www.GotPrint.com?
COLOR: Full Color Both Sides (Outside and Inside)
SIZE: 5.5″ x 8″ Pre-Scored to Fold to 4″ x 5.5″ Horizontal
PRE-SCORED for FOLDING: Half Fold
PAPER: 16 pt. Dull Cover with Matte Finish
PRODUCTION TIME: Regular
OPTIONS: High Gloss UV Coating Front
Could you share your weekly accountably document you created for this challenge?
Here’s the pdf version of the document created on September 24, 2018: