Lessons Learned from June's Mastermind - Through the eyes of an Intern by Oliver Harrison
Recently at the Keller Williams Prime Market Centre in London, I took part in the ‘ALC Meeting’ for the top 20% of agents and a ‘Mastermind Session’, which was run by KW agent Alex Harvey, and KW Operations Director, Gaven Swan. The key takeaways that I got from these sessions are as follows:
Importance of FB Groups
Facebook groups have been a good source of connecting with clients and initially adding value.
After joining relevant Facebook Groups, to make the experience more valuable for members of said group, it is useful to:
1. Share useful links, which are not linked back to your website, so as not to seem biased with your views
2. Start insightful discussions and conversations, which helps other people to engage with your content and to share your opinions.
3. Answer questions and give useful tips to show your competency.
It is really important to have referral partners in different areas. Two ways of building your referral network are:
1. Stay in contact with your previous clients, as they will regularly be a large source of new business. A useful way to keep a track of who you have made new contact with and what they do or how you met them, is to add a short description under the ‘Company’ section of a new contact on an iPhone.
2. Ask for referrals. Lot of estate agents find this difficult to do, but it is a really good way to get new introductions, which could lead to new clients. Once you have built up a good level of trust with a client, simply asking ‘Do you know of anyone else who may be looking to move or sell their home in the near future?’ is an effective way to get the ball rolling. It will make the client think about specific people that they can put you in touch with.
Connect with local businesses
Connecting with local businesses is a superb way of getting your name and brand into the local area. Partnering with local small businesses is an effective way to begin this process.
It can be as simple as asking a local restaurant or business to place a poster or business cards in a prime section of their building. This could be exchanged for holding a small event at the restaurant to highlight the pros of eating there, or you could mention them in a blog post about the ‘Top 10 restaurants’ in your target area.
On your preferred social media (Facebook, LinkedIn, Instagram), offer readers the chance to win a prize if they share your post on enough platforms. This could be done on a ‘ticket’ basis – meaning that for each time that they share your post, they get a ‘ticket’. Therefore, the more times that they share the post, the higher chance they have of winning a prize.
Lifestyle photography, which is where the photographer captures real-life events and portrays the house as how it might be lived in, is a really useful tool to gain more viewings. For example, rather than taking a photograph of an entire room, you could show off the fireplace. This method has resulted in lots of click-throughs for a Keller Williams agent and has even resulted in various clients only wanting that particular property.
Checklist are a large part of the home selling and home buying process. Asana, which is software that helps you create checklists, is a good tool to use as you can coordinate all of the work that your team, including solicitors, etc, need to do. It then keeps track of who is falling behind, so that you know exactly who to call up if need be.
Sometimes when a vendor is not entirely sure about selling their property, a good question to ask them is ‘What are the consequences of not moving?’ This will often open up a whole host of reasons and emotions of why they need to sell their home in the next 6 – 12 months, which may make them realise the urgency at which they need to sell.
The importance of lead generation through using the Keller Williams model explained from page 133 of The Millionaire Real Estate Agent book by Gary Keller.
Leads are the beginning of all sales and if you have no leads, it means no sales. A good way of getting into the mindset of gaining more leads, is to think of yourself as being not only in the real estate business, but also in the lead-generating business.
If you don’t have a huge amount of leads, getting more leads should be your main focus.
Clients’ picking up the phone
A simple but effective way of ensuring that your clients or a potential client picks up the phone when you call them, is to text them before calling, or to arrange a set time to call. Do not necessarily rely on them picking up a call from a phone number they do not recognise.
Give selfless advice
One way to get to the forefront of a client’s mind is to give selfless advice and expecting nothing in return. This can be through blog posts, responding to comments on social media, newsletter and many more different avenues.
Keller Williams recommends 36 touch points/ points of contact per year. However, a Keller Williams agent who explains how she makes 64 touches per client per year has increased her net worth to $100,000,000 over the course of the past few years.
It is useful to ask your database who they know who might be moving, rather than simply asking them ‘if they know of anyone who might be thinking of moving’. This simple change in words makes your database think of particular people.
Holding events for past clients is a superb way of keeping in touch and keeping them involved in your business even after you have directly finished working with them. An example of this might be a wine tasting event, which is a good social and exciting event to be a part of.
When sending out birthday cards or a general card as one of the 33 (or more!) touch points, you could team up with a local artist and use their cards when sending a note.
Creating a monthly market report, whether it be in written form or video form is a good way of showing your clients the knowledge that you have of your target area. Alongside this, a more detailed quarterly review is another way of showing off your knowledge.
In order to keep up to date with all of the sales in your target area, you can easily keep a Google Sheets document on your target area. If you update this regularly, it will not take much time to fill in and will be an incredibly impressive document to send out to your clients. Some agents send this out on a weekly basis, some on a monthly basis and some agents just use it for their own benefit.
People, Not Brands
A superb point that was brought up, was the fact that ‘People instruct people, not brands’, meaning that you need to make genuine connections with your clients.
Target Exchange Date
On the Memorandum of Sale, you can set a ‘Target Exchange Date’. This is so that everyone involved knows what date both parties are aiming to exchange by. As previously discussed, a piece of software such as Asana could be used for this.
To help clients understand how you gotten to a particular conclusion when it comes to price, you could send a video screen recording of yourself discussing data on Rightmove/ Zoopla and send it to them.
When setting an ‘asking price’ you should not use the phrase ‘asking price’, because if you have to reduce the asking price, it feels like a negative to the seller. If you use the phrase ‘Initial Marketing Price’ it tells the seller that you are doing this to test the market and see how the market responds.
Alongside this, when reducing the price, use the phrase ‘adjusting the price’ instead of ‘reducing the price. When adjusting the price, the phrase ‘the market’s not always kind, but it’s never wrong’ is an incredibly effective way of showing the customer how adjusting the asking price is nothing personal, it is simply the market talking.
A really insightful day! I hope today’s blog post has been useful!