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Family Reunion Annual Conference
Feb 21st-25th, 2008
Orlando, FL

Brad's Notes from Session

Shift: Do More with Less

 Facilitator: Brad Korn

Panel: Mary Christie, Brandon Green, Steve Cohen

Training tip: take a class multiple times. The 4^th time through is when you will start to “get it”

Mary – tampa fl. 18 yrs. Working 20 hrs week. Just shy 5 mill. Works with husband. Outso

Brandon – Wash DC, 3 buyer agent. 1 reo 1 admin been selling since 01. 70+ trans

Steve – 7 team members incl his mother. Boston area, selling since 80’s, 80 transactions, 2 buyer spec. trans coordinator, daughter helps.

How has your ROLE changed:

Mary – just needed to lead generate. She tied leg to chair so she wouldn’t get up. She quit pretending to lead generate and actually picks up the phone and call actual people.

Brandon – He became a budget Nazi…and major negotiator on every big budget item. Everything from asking vendors for better rates, etc. For example: his tour company had competitor come in area. His hotel  room for the conference. One adjusted price, and asked his to match.

Really track results. Cut something out, and track for several months and if income drops put it back. If not he just saved.

Steve – He has started doing more prospect based activities. You should never be spending money where not seeing results. When you are tracking it and you are seeing business you will see it is coming from referral, prospecting we do, past clients. He was spending a pile of money on ads…but now it is on prospecting. By cutting ads and prospect more, he cut his expenditures by 70%.

He works with a coach and has an acctblty partner with another mega. In a call she said…I don’t prospect, I just call friends.

Steve is doing more of the lead conversion himself, vs just toss off to team member.

Brad – Top agents around the country are going back to lead gen.

Lead gen is just about making 5 new friends a day. Do you have more than 100 people in your database? Are there past clients you have not talked to in years? 20 per hundred are moving this year (average person moves every 5 years. Out of 100 people and the avg person move every 5 yrs…that is 20 clients)

How have team Job Descriptions Changed:

Mary – doesn’t have team, but office provided help such as transaction coordinator, etc.. their job description really didn’t change…however, she has no salaries to be extra expenses to worry about.

Brandon – Lost “runner” and didn’t hire another. Admin staff picked that up. They had discussions, and even though everyone loved it..wasn’t going to have another. Also talked to admin about working 6 days a  week. Unemployment has gone up and the enjoyment of having a job went up. So willing to work more

Had one staff had flexible salary and shift some of salary to spring. Another clear thing that shifted… when you get in morning, you have to lead gen and also follow up on calls to stay up with lenders, clients, etc to handle issues. What is easier? Call the lender and clients. However the harder call is the lead gen calls, he does those first. The easier calls are now done in the afternoon.

Steve – adjust in staff. Wanting to please people is something he always has done..even when it may be costing him money, but at some point it has to stop. When watching numbers you cant deny it His book-keeper is gone- and she understood that. Now transaction coord does it and better.

Another position cut in ½ was then went virtual and found certain jobs his daughter could do.

Think about non-paid support (and paid but on variable basis). If you don’t have a team, and you are looking at your most valuable resource of time and $$...there are people in your life that you can get at a low cost (his mother has offered to help)

Brad – you have loan officer, warranties, inspectors, etc…will also help you. that is business to them as well.

Brandon – Cut out closing gifts, and business went up.  Brad added – if you did such a good job, who should be giving the gift?

Brad – Take an inventory of what is on your book shelf. What little $25 or $35 items are being charged to your card every month that are not brining in money and income? Cut them out. Don’t spend $1 to get $1 or less….only spend $1 to get $5.

Two biggest expenses are rent and salaries. Talk with employees about bringing in enough income to more than justify their income.

Having people (especially salaried) should be doing some 20% stuff (the 3 L’s) or at least freeing you up to do more of the 3 L’s. If they are just asst and they and you are not doing more of the 3 L’s then they are a true expense.

SYSTEMS leveraging you.

Steve – notices that referrals are coming more when working with his buyers. When they are thinking of purchasing, they are sending you referrals. The interaction with his buyers and sellers on a regular basis that gets in front of them and exhaust them with contact. Never let him get the call. Those two truths were combined and put a campaign together to keep in front of them.

He shared the “turbulence” letter to prepare clients for everything that can go wrong, and he is the pilot. Stay out of the cockpit and I will get us through the turbulence.

It is having dual effect of getting referrals and setting up any problems that may arise.

The confusion preceeds the learning. His coach was telling Steve he always needs to be topgrading. Steve said there are soooo many things to do. His coach said that is the most important thing to do. Went into scenario of explaining everything that needs to be done to drive a car.

Anything we conceive as complicated…but if you continue to expose yourself to it, it gets wired in.

Brandon – system giving more time to do more 20%. For years used TP as a phone book…as things shifted, he started using the Action plans. Running more of the transaction part of the process. Now his time is freed up. Then after looking at what he was doing with his time, he realized there are things we do just because it has always been done that way. He wondered why he was going to settlement. Why was his client even going with email signatures, etc.

Action Plans, action plans, action plans!!!!!!

5 a day…EVERY day!! Never stop!!!!

Mary – leveraged herself by having newer agent help clean up database. She refers out all the buyers to the agents in the office on another team.

Uses ARCH.  She get 2-3 leads every day, and just forwards that one on.

800# vs flyers. How much time have you spent to go fill a flyer box? Can you leverage that time? Look in your market to see if anyone offers free or is there an affiliate that might do it? Set up system to be able to return all lead calls less than 5 minutes. Steve did elimate his 800# but didn’t know if it was because of how he used it and his market. However, when he gets any leads…internet, ads, and signs, they are returning those extremely quick.

Steve says to be sure to focus more on the ones that are more qualified. He just give his buyer agents and appt. Not just a name. Steve pre-qual and turns into appt.

What is your BEST ADVICE you can give attendees to do one more thing to shift.

Mary – taped her conversations. Listen to herself on phone and prospecting. That was a huge turning point for her. She also went to top agent that actually did lead gen and shadowed him 10 times.

I have an Olympus W-100. Should only be about $70 or so.

Brandon – sharpen skills. Find out what you need to get better at and take more education to get better. 10% of his income is spent on education now.

Steve – Gary says to farm out what you are not good at. Also, be sure you are making time to work “ON” your business. All the things that go to systems, drips, tech, TP, comarketing…all have potential to grow business geometrically. But you do have to run your business like a business person. Steve really wants to be a sales person, but reality is he does have to be a good business person. The activities working “ON” your business pay huge dividends. Be sure to schedule time to NOT lead generate and work on your business.

Talked about what is 20% or not. Is stuffin’ envelopes 20%? YES!!!! Contacting and dripping on my database

1 hour cleaning desk, getting organized vs spending 1 hour calling past clients that bought 5 years ago.

Brandon – made comment that the most important thing you can do is being part of the lead conversion.

Steve talked about wether or not you convert the lead then brining $$ to bottom line. The agent/Rain maker NEEDS to step back in and get those leads converted.

Brandon not hiring any more buyer agents. Mary refers all buyers out. The referral fee is all profit.

When is it a good time to get a coach? Steve said they are not cutting back coaching. That is learning with accountability. You really need to get into an accountability scheduled call.

Top agents are not downsizing their coaching. The MAPs coaching program is really helping you get a “return on your investment”. In a good program it is not just someone teaching you a system…you are getting a return on your investment.