A Tool to Turn Your Real Estate Business Around

Oct 20, 2017 4:19:22 PM

When Ryan Davis told Donna Evins, employing broker at Keller Williams Real Estate, LLC. Park Meadows, that his production goal for 2017 would remain at $10 million, she smiled and politely said “no.” Instead, they set his stretch goal to $15 million.

“I agreed because she was my managing broker, but I had no idea how I was going to get there,” he recalls.

Together they formed a GPS to bring clarity to what Davis’s priorities would be, but he struggled to follow through on the action items. When Keller Williams’ largest educational conference, Family Reunion, came along in February, Davis remembers barely making enough to scrape by. He needed to act FAST. 

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After attending a breakout session on the Career Growth Initiative (CGI) and learning about the Pipeline Tool, a fire was lit. He had a plan and a renewed motivation to hit his big goal.

Reality Check

Upon returning home to Colorado, Davis downloaded the CGI Pipeline Tool right away, pulled the names of everyone who had the potential of being a buyer or seller from his database and placed them into the spreadsheet. He was shocked. The CGI calculator showed Davis that in order to reach his goal of $15 million, he would need seven appointments every month and 44 closed units in the year.

“I thought I was doing an OK job, but I was actually doing terribly. The report revealed that I only had three viable prospects in my pipeline.”

So he created three pipelines – one for buyers, one for sellers and one for his profit share downline. Next, he hired an administrative assistant and connected her with a KW MAPS Coach for training so he could spend all of his time developing relationships and pumping leads into his pipeline. 

“I was able to take the numbers from the CGI tools, look at my pipeline report, and see where I could be most effective immediately,” he shares.  

Two successful lead generation methods emerged: events and social farming.

Lead Generation Events

Davis had attended social events but admits he wasn’t intentional about using them as opportunities to gain leads for his business, so he restructured.

“I made quantifiable criteria for what a lead generation event entails,” he explains. In order to attend business happy hours, festivals or other community events, there had to be 20 people in attendance that he did NOT know and at least one “stakeholder” who knew him and could speak to his merits.

He had a goal of attending two events per month in order to place at least four names in his database. Since March, Davis has placed 35 viable names into his database and closed a transaction with 21 of those individuals.

Social Farming

At the same time, Davis began social farming.

“I didn’t know it at the time, but social farming began when my family and I moved into our neighborhood and built our house.”

Davis had always been an active participant in his neighborhood, but decided to ramp up his involvement after Family Reunion.

This year, Davis has been the point-person and sponsor for his neighborhood’s:

  • March Madness pool
  • Community softball league
  • Patrick’s Day decoration contest, or “green off”
  • Fourth of July Bike Ride

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Upcoming events include a chili cook-off, Halloween costume parade and “turkey trot” (Thanksgiving Day run). He was also asked to be the administrator for the neighborhood’s closed Facebook group, where he posts and comments regularly. The intention behind social farming is to “get in front of people in my neighborhood,” says Davis. “It’s a way to tie together community events to business without asking for it.”

Davis has closed 11 sales this year from this lead generation technique and has seven additional hot prospects. He has a keen awareness of where his leads come from through a detailed tracking system. He creates a tag for all of his events and makes sure to inquire during buyer and listing presentations where they first met. There are fifteen other agents in his neighborhood trying to gain market share, but Davis holds the top spot. “The next closest agent in volume in my neighborhood has only closed on four homes,” he says.

When asked why social farming works so well, Davis says, “it allows me to come from a place of abundance and give to my community. It also creates future leads down the line where people seek me out as their real estate agent. When you are authentically you, your business grows.”

A Bigger, Better Future

At $10.7 million in closed sales volume and $2.3 million under contract (ready to close in the next 20-30 days,) Davis is both ecstatic and hungry for more.  

“In 2018, I’m pushing myself to go even further,” he says.  “My goal is to hit $20 million and I have a plan to get there.”

He will look at his pipeline daily and check in with his team weekly to review progress, learn how to fill his talent bench through KW’s Leverage Series, and increase the functionality of his database, a place where he sees a wealth of potential business. 

With KW at his side, limitations have dissolved for Davis. The culture of sharing has enveloped him. 

“When anyone does something successful, they are open to sharing it. That has resonated deeply with me. There’s enough business for everyone. I’m a lifer here.”

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