When they formed their partnership in February 2017, Joseph Singsheim and Jeff Nevin of the Milwaukee Southwest market center hit the ground running and have never looked back. Prior to joining Keller Williams, the pair had worked side by side at another real estate firm where they had similar sales volume. They were hungry to succeed, like-minded, and respected one another’s work ethic. Since forming their high-functioning team of two – Reliance Real Estate Team – just 10 months ago, they have experienced explosive growth to the tune of $10 million in production.
Leveraging CGI Tools to Fast-Track Growth
One of the keys to their traction has been their intentional focus on for sale by owners (FSBOs) and expired listings (expireds). In fact, 60 percent of their total business is exclusively in this category. Singsheim and Nevin regularly rely on the CGI Calculator and Pipeline tool to focus their time and guide their efforts. “Recently, the report revealed a list of the prospects who were not motivated enough to sell right now because of the holiday market,” Singsheim offers. “We moved them to our file of springtime sellers.” Nevin continues, “We have about 28 in that pipeline, and this essentially becomes our follow-up program that consists of door-knocking, emails, phone calls and mailings.”
Keep On Dialing
While many agents avoid FSBOs and expireds, Singsheim and Nevin saw it working with some high-performance teams and decided to model their business the same way. They realized that reinventing the wheel would only slow them down, and they grew a passion for the oft-avoided niche market. Since the FSBO and expired demographic requires a lot of work, Singsheim and Nevin say their success rests on relentless adherence to lead generation. Having determined their personal lead conversion metric, the pair work to find the quality leads within the quantity. In order to secure six listings per month, they must make over 650 calls (each) per week.
- 5 dials = 1 contact
- 60 contacts = 1 listing appointment
- 18 listing appointments = 6 listings
As their team moves full throttle into the marketplace, they are seeing firsthand that determination and unwavering consistency gets results. “We hold that time hostage no matter what,” says Singsheim. “[Following this lead generation model], that’s what will bring us the profit in our business.” They found that it works best to divide and conquer. Singsheim is the designated FSBO expert, while Nevin excels at expireds. Delineating between the two prospect types allows each agent to internalize their scripts front to back and have a ready answer for objections. Using the CGI Calculator, they know their numbers and conversion rates and how these relate to the activities they are doing. “At all times, we know precisely how many appointments we have to go on, how many listings we have to take, and how many dials it will take to hit our numbers,” Nevin emphasizes.
A Reliance Team’s client, Mike Rosman, was impressed by their preparedness at the listing appointment. He had tried selling his home on his own, but was not having any luck. None of his agent friends had even contacted him when Singsheim and Nevin found his listing on Craigslist and showed up at his door. “They fought for the listing, so I knew they would fight to sell it, too,” Rosman asserts. In the less than 30 days it took to close on the house, Rosman appreciated that they updated him every Thursday on how the house was being marketed. As a salesman himself, Rosman did not want to pay the commission and pushed back, but happily relinquished when the Reliance Team shared their experience and some statistics about homeowners who had attempted to sell on their own. Singsheim and Nevin use a compelling script to get their foot in the door. They ask the seller what they plan to do if the house doesn’t sell, and they mention that in their state commission is negotiable. By putting the power into the hands of the homeowner, it helps to soften objections and allows for a quick meeting.
For sellers who think it is better to list on their own, Rosman shares what he learned. “Just listing on the MLS won’t cut it. Real estate agents have a networking system to target the right buyers and the means to work with other agents that can bring those unique buyers. I am very happy with the outcome; the process was so smooth, and Jeff and Joe were fun to work with. I’ve already referred them to a few other people.”
Are you ready to achieve all-new levels of production? No matter what your lead generation strategy is, the Reliance Real Estate Team has some advice for you.
- It’s a numbers game. Real estate agents hear no a lot. Stay focused on the goals you have set with the CGI Calculator. Keep making phone calls to get to the one that is going to say yes.
- Establish an accountability partner and system. The Reliance Real Estate Team has a Monday morning accountability meeting and a mid-month checkup to see how they are tracking against their numbers and if adjustments need to be made.
- Make lead generation nonnegotiable. 20 percent of the day is 80 percent of your business.
- Practice BOLD and Ignite scripts for 15 minutes every day before you generate leads. Build this into your schedule and make it a habit.
Focus your time and fuel your growth with the CGI tools – available on KWConnect.