I have written this document to help all of our agents, new and existing, to understand all the opportunities to make money when partnered with Keller Williams Scotland.
I would hope that all of our agents will have taken the time to read MREA (Millionaire Real Estate Agent) and I would encourage anyone in self employment or as a business owner to have read Rich Dad/Poor Dad.
Both of these books emphasise the importance of having numerous sources of income, and in particularly MREA shows how to behave like a business and to think like an exceptional estate agent.
Please take the time to understand each of these opportunities and please reach out for a direct one to one with any areas you would like clarification on.
1. Accountability
The first port of call to make £100k is to have a GPS (Goals, Priorities, Strategies).
You need to look at what you want to achieve, then build a plan to make that happen. This model here is specifically number driven, simple and easy to track.
Speak to your lead agent, mentor or to the Market Centre to establish who is your accountability partner.
Everything we detail here has been carried out and proven by agents earning £100k or above.
It’s very simple, it’s all about consistency
2. Leaflet Marketing
Leaflet Marketing is one of the oldest and most used methods of building an estate agency business. However many agents are now being persuaded to use social media platforms and database content.
These all have value but they can be the definition of passive advertising and its also more difficult to make sure that your message is received by the people you want to receive the message.
There are three main cards I suggest that you use
• Thinking Of Selling : - Response rate 0.02%
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• Just Listed :- Response rate 4%
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• Just Sold :- Response rate 8%
These work as a process and you should not skip a step. Deliver 2000 ToS cards monthly on your target market. Using a map, define your area. Pick an area that has a good level of activity and then focus on it. It can take up to 4 months of consistent carding to see measurable responses but there’s always a response. One of our agents, Melissa Kennedy delivers 5k card per month and carries out 2 valuations per week. She says this is the return for her consistent carding in her target market.
After winning a listing, the next step is delivering “Just Listed” cards these have a significantly higher response rate, and they also represent a really strong step in our marketing value proposition. These cards represent an easy way to show someone how we market differently. Not every individual is on the portals as regularly as we are, or as regularly as Rightmove would like! And so, a card through the door represents a little extra push for those not skimming the Internet!
After an offer is agreed we use “Just Sold” this is the highest performing card, and it represents the opportunity to let the world know we’ve helped our client, and we can help them.
Delivering just 2,000 ToS cards per year, 50 Just Listed and 50 Just Sold should generate around 10 valuations a month when your business is consistent. Even if you only converted 25% of those valuations then you would list 30 properties per year and that’s a commission value of around £60k!! And we haven’t even taken account of marketing fees in this situation which could be another few hundred pounds per property as well.
A great carding plan should be worth more than £30k a year to you, even after spending a hundred a month if you’re delivering them yourself or two hundred if you pay someone else to.
Would you really not spend £200 a month for £3000 back?
£36,000 for £2400 cost?
3. Database Marketing
The next phase of this plan is the Database Marketing plan, for those of you who have read MREA (Millionaire Real Estate Agent) this is our Lead Generation Model!
As you start you can upload, or your admin can upload your current contacts into our Rex CRM system. Rex have created a 36-touch campaign for us and that will create a network of timed communications to your potential clients via messaging, email, card and phone calls. All designed to make you the relationshipbased agent of choice!
The process is a simple one. Can you speak to 3 people per day for 5 days per week?
If you can, and if you add them to a consistent campaign then you will have 750 names in a year.
If you apply a consistent campaign, such as our 36 Touch Campaign, then you will win opportunities from your database contacts. It’s as simple as that!
As your business grows this becomes easier and easier, and something as simple as an open house can generate up to 72 leads from a single property listing. Most properties create 24 home report leads alone so getting your 750 per year becomes easier when you have listings!
As an example :
Our 36 touch campaign generates about a 6.37% response.
750 names in a database will create 48 appraisals in a year on that basis.
A database lead that is well communicated to and nurtured will yield around 75% conversion from market appraisal to listing.
90% of listings are currently selling in 6 weeks.
So 48 appraisals, 75% convert to listings and 90% sell…. That’s 32 sales and a total commission of around £65k! and probably another £10k in marketing fees!
So can you speak to 3 people per day for around £40k net commission?
4. Additional Services
This is the simplest area of earnings, because it’s literally the money you can earn from simply using the opportunities you’re already selling!
How do you get this extra income?.... you just ask.
You just ask the people you’re already in discussions with. Your vendors, your buyers, your unsuccessful buyers and your uninterested buyers. There’s an opportunity from every single lead you have
The listings from the marketing cards and database listed above alone would be another £4000 pounds if you charged a £60 uplift on a home report.
Solicitor referrals vary from £100-£200 per sale and purchase. So a lead can be worth up to £400 to you if you control both sides of the transaction. If you sold 60 homes in a year, only won 50% of your solicitor opportunities in a year that would still be worth about £10k
A mortgage referral will easily be worth £200 for a successful mortgage application and probably more. Even only using £200 and only passing on 10 leads that’s another £2000
These simple referrals listed in the short paragraphs above are another £16,000….. £16,000 for simple saying “this person is great, I’ll ask them to give you a call”
5.
Collecting it all together
If you consider the options shown above after commission splits, after costs of photography and boards we are looking at about £34,000 from marketing cards, £40,000 from database management and calls and £26,000 from marketing fees, solicitors referrals, home report and financial services…. That’s your £100k
The question isn’t how I start?…. Or can I start? The question should be when can I start?
The climb to the top of Everest starts with a single step. The first step to earning £100k is committing to consistency.
Reach out if you have any questions. We are here to help.
