Editor’s note: Yesterday we announced in this blog post, that today, Oct. 25, 2013 would officially mark 66 days until the end of the year. In honor of this day, we are challenging readers to join The ONE Thing 66 Day Challenge! What is the challenge? We encourage you to read the first blog post (or pick up a copy of Gary Keller’s book The ONE Thing). Once you’re ready to take on the challenge, come back here and read how to create a lead generation habit that can net you 90 listings in less than three months.
Craig Reger of the Portland (Ore.) market center had a breakthrough this year. Through coaching calls with Tony DiCello, executive director of KW MAPS Coaching, he decided it was time to take his business to the next level. Then he read The ONE Thing by Gary Keller and decided that the ONE Thing he could do to get to the next level was increase his listings.
The word “increase” pointed Reger in the right direction, but it wasn’t powerful enough. To make it tangible he used the “big and specific” method Keller describes in the book:
“Setting a goal you intend to achieve is like asking a question. It’s a simple step from ‘I’d like to do that” to ‘How do I achieve that?” The best question – and by default, the best goal – is big and specific: big, because you’re after extraordinary results; specific, to give you something to aim at an to leave no wiggle room about whether you hit the mark.” – The ONE Thing, page127.
After some thought, Reger had it: Achieve 90 Listings (BIG) in 90 Days (Specific)
“We agreed that [the team] would increase their listings from an average of five per month to one listing a day for 90 straight days,” he says.
ONE listing a day for 90 straight days
The ONE Thing: Get Listings!
If prospecting for 90 days straight was the name of the game, then Reger and his 10-member team needed a constant pipeline of people to contact. They zeroed in on six areas:
- Sphere prospecting
- Circle prospecting
- Expired prospecting
- Sign calls
- Door knocking
- Social media
Now that their “who” in place, the team needed to figure out “how” they were going to effectively contact people. They came up with specific activities in each of the six areas to reach their goal.
- Call your database
- Face-to-face interaction
- Social media
A talented new member of their team got her license and used a brilliant Facebook post to great effect: “I’m practicing CMAs,” she posted, “who wants to know their home value?” The post led to four closed contracts.
As the weeks progressed, the team practiced scripts, tracked each other’s successes and time blocked to keep their focus. “The world can begin at 11:01 a.m.,” Reger says, referring to the prescribed three to four hours of lead generation they do every weekday morning.
Their circle consisted of just listed, just sold and title company contacts. Reger and his team used the following script:
“Hi ____, this is Craig Reger with Keller Williams Realty, and I’m calling because I’m working with some buyers who are looking to move to your neighborhood. As you probably know, virtually everything on the market is already sold! So I promised my buyers I’d call around to the neighborhood.
Do you have any friends or neighbors who have thought about moving?
Have you thought about moving in today’s hot market?
Thank you for thinking about that. Have you considered investing in real estate while we’re at historically low interest rates combined with home values that remain well below the peak?”
When it came time to dial for expired dollars, the team got creative, looking up everyone who expired between the years of 2007 and 2011. The list returned 100,000 homes, which begged the next question: how do you crank through that many phone calls in just 90 days? Ultimately, they decided to leverage Red X and MOJO Powerdialer, purchased BOOM headphones, and added more phone lines and the ability to screen incoming calls.
Once again, the team systematized the conversation with a script.
“Hello, is this _____? Hi ____, this is Craig Reger with Keller Williams Realty, and I’m calling about the house you were selling on Main St. way back in 2008. Did you ever sell that home?
Most people didn’t. That was a pretty bad market and as you probably know, it’s substantially better now. In fact, I’ve helped many sellers sell for more money than they were trying to get in 2008. Have you thought about selling this summer now that the market has improved? + Give your over the phone price opinion”
They secured five listings in the first five days and never looked back. Of course, there were challenges, but they were good problems to have, like seven listing appointments a day for two weeks straight. They were operating with a sense of urgency. “We knew we had a number to hit,” Reger says.
Internally, the 90-day challenge was having a dramatic affect on the business and the overall focus of the team. Yet, they needed to communicate that success in a way that would resonate with more sellers. While consistent sign calls, door knocking, open houses and aggressive lead follow-up were effective, the biggest impact came from their “SOLD” stickers.
“We found the biggest ‘SOLD’ signs we could and made it a policy to have them up within an hour of closing,” says Reger. In fact, it was not uncommon for neighbors to leave in the morning and see the “FOR SALE” sign and arrive home to find it had “SOLD.”
A High-Production Culture
For the first time in his career, Reger’s business was predictable … and fun. “While working on the business, we were not creating more business. We created a new team culture.”
The team kept score as well as visual reminders around the office to emphasize and celebrate their progress. For example, they know that out of 400 calls, they’ll get 100 pickups, which will generate two to three listing appointments, he explains.
400 calls = 100 pickups = 3 listing appointments
They developed an environment that supported their goals with time blocking and technology. “We increased our signed listings by over 400 percent and closed $13.1 million in production within 60 days,” he says. If that wasn’t enough, the buyer team is now thriving and focused 100 percent on buyer consults, and the systems, Reger says, can be replicated in any city or any market.
“We created a culture and habit that will forever be part of this business.”