MREA: What We’ve Learned, Anyone Can Apply

This a re-post from Keller Williams Family Reunion blog on 2/8/15.

Access original post here: http://blog.kw.com/2015/02/08/mrea-what-weve-learned-anyone-can-apply/

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Gary Keller and Jay Papasan kicked off Keller Williams Family Reunion with a look back at what Keller Williams and its associates have learned from The Millionaire Real Estate Agent (MREA) over the past 10 years.

While the systems and models have proven timeless, Keller, Papasan and their research team have continued their ongoing conversations and research with top agents who are putting the models and systems to work in every kind of market.

During the presentation, Keller emphasized what these agents have proven – “The Three L’s will never change!” exclaimed Keller. He also emphasized the importance of placing your value proposition in the center of the “Three L’s” triangle. Keller urged agents to be very clear about their value proposition in everything they do. Start with your value proposition and then build your business around it.

Leads: Your first priority is lead generation.

  1. Be prospecting based, marketing enhanced.
  2. Protect daily lead-generation time blocks.
  3. Use scripts and make offers for immediate response.
  4. Track sources and conversion rates.
  5. Hold actions accountable to results.

Listings: Setting serious goals for listings appointments and be accountable to the goal.  Setting 2-2.5 appointments per day 5 days a week with a 75% conversion rate puts an agent on the path to earn a million.

  1. Know the minimum number of listings and appointments you need.
  2. Be accountable to hit your minimums.
  3. Raise your average sales price.
  4. Implement a systematic listings marketing program.
  5. Consistently market seller listings for more leads.
  6. Get sellers to accept the specialists concept.

Leverage: Hire the right people the first time.

  1. Work from an organizational chart with job descriptions.
  2. Follow a lead generation plan and a recruiting process.
  3. Use compensation and opportunity as a competitive weapon.
  4. Hire unproven or emerging capacity talent.
  5. Implement a 90-day action and results training program.
  6. Use 1-3-5 and 4-1-1 for accountability.
  7. Topgrade and build a bench.

The session concluded with two powerhouse agent panels, including Brandon Green of Washington D.C., Brett Tanner of Tempe-Scottsdale, Christopher Suarez of Portland West, Matt Fetick of Wilmington, Michael Perna of Northville, Sue Adler of Summit and the top three producers at Keller Williams; Russell Rhodes of Dallas Preston Road, Mark Spain of Atlanta-North Fulton and Bob Lucido of Ellicott City.

Keller urged every attendee, “When you get home from Family Reunion, figure out how you will get 11 appointments each week and everything else will happen.”

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