In the latest edition of the Elite Real Estate Systems Hangout, we go deep into the first of Gary Keller’s two keys to expansion - a leveraged, transferrable lead generation machine.
Your 3 key takeaways:
Expansion can include expanding within your own brokerage or city
Becoming a ‘rockstar agent’ actually traps you in production, and you must shift your marketing away from hyper-local, personality-driven lead generation in order to expand
Track every lead source and split your lead gen investment among 10 sources so you’re always ahead of the curve
Resources & Links:
Expansion- Learn how you can partner with Elite Real Estate Systems - build your career, start your own satellite team and remove yourself from actively working with clients - all without leaving your current broker.
Team Building Workshop – Spend the day observing these systems in person, including board meetings, Monday Team Meeting, agent one-on-one meetings. Also includes hours of private consulting to create your own custom roadmap to build and exit your real estate team.
Tools & Services – See all the tools, professional services and companies Jeff uses and recommends to help build your real estate team.
We started by sharing our own shift away from the hyper-local, personality-driven marketing of “The Cohn Team” to Omaha’s Elite Real Estate Group and generating leads online. We also outlined the initial steps to zero-basing your lead gen costs, and explained why we didn’t follow the traditional route of being a ‘rockstar agent.’
Next we covered lessons learned from a recent trip to Keller Williams ESO (Expansion) class, where Gary Keller spoke for over 2 hours on the future of real estate expansion. We contrasted the approach of KW - with its emphasis on recruiting high-level talent - with the ERS approach of building amazing systems and plugging in agents who can sell 20-30 homes a year in the system. We also debated the merits of KW’s restriction on expanding with their own agents, which puts KW expansion agents in the position of trying to relocate current team members or have to recruit outside KW in order to expand.
We finished up by talking about the ROI Tracker and Master Database, which are at the heart of our flagship hub, Omaha’s Elite Real Estate Group, and broke down how we split our lead gen investment among 10 different lead sources, including experimental lead sources to stay ahead of the curve.
Here are the show notes with timestamps so you can jump to the sections that interest you most:
[1:50] Expansion can be expanding within your own brokerage or within your city
[3:05] Gary Keller’s two keys to expansion - 1. Leveraged lead gen system and 2. Admin/management system
[4:25] Why you don’t want to be a rockstar agent - How to move your lead generation away from hyper-local and personality-driven marketing
[6:00] How to make sphere prospecting a leveraged part of your expansion strategy
[7:00] The progression of expanding online lead gen and zero-basing the cost with MSA’s
[10:40] Why you should be tracking ROI on lead sources across every agent, including expansion agents, to make sure you’re generating the correct number of leads
[12:30] The disadvantage of KW’s restriction on recruiting expansion agents from within KW
[14:20] The ERS approach to expansion vs Keller Williams approach to expansion that focuses on rockstar sales talent
[18:45] How to use broker workshop/lunch-and-learn events to build your reputation in nearby cities and start building a pipeline of potential expansion partners
[21:40] The role of the ROI Tracker and Master Database - how to build the system that informs your decision-making on lead generation, coaching and holding your marketing partner’s funds accountable
[24:00] How to get infinite return on your lead generation, and why put 70% of your lead gen budget toward the top 3 sources and the rest toward 7 other experimental or smaller lead sources