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Millionaire Real Estate Agent MREA Admin: Lead Tracking and Follow-Up Bryon Ellington A Course for the Millionaire Real Estate Agent Team

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Page 1: MREA Admin: Lead Tracking and Follow-Updocshare01.docshare.tips/files/23517/235170289.pdf · Implement lead follow-up systems to make sure leads are properly handled. c. Track referrals

M i l l i o n a i r e R e a l E s t a t e A g e n t

MREA Admin: Lead Tracking and Follow-Up

Bryon Ellington

A Course for the Millionaire Real Estate Agent Team

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Preface

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 – © 2004 KELLER WILLIAMS REALTY, INC. i

Notes…

Realtor® is a trademark designation of a member of the National Association of Realtors®. No person who is not a member of NAR may use the designation Realtor® to refer to themselves.

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Preface

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. ii

Acknowledgments

Keller Williams University would like to thank all of the contributors to MREA Admin: Lead Tracking and Follow-Up. We would like to give special thanks to the following contributors:

Gary Keller, Dave Jenks, Jay Papasan and

The Gary & Nikki Team The Gentry Group The Goodlife Team The Hardie Group

The McKissack Group The Scheffe Group

NOTICES While Keller Williams Realty International (KWRI) has taken due care in the preparation of all course materials, we cannot guarantee their accuracy. KWRI makes no warranties either expressed or implied with regard to the information and programs presented in the course or in this manual.

This manual and any course it’s used as a part of may contain hypothetical exercises that are designed to help you understand how Keller Williams calculates profit sharing contributions and distributions under the M.O.R.E. System, how Keller Williams determines agents compensation under the Keller Williams Compensation System, and how other aspects of a Keller Williams Market Center’s financial results are determined and evaluated. Any exercises are entirely hypothetical. They are not intended to enable you to determine how much money you are likely to make as a Keller Williams Licensee or to predict the amount or range of sales or profits your Market Center is likely to achieve. Keller Williams therefore cautions you not to assume that the results of the exercises bear any relation to the financial performance you can expect as a Keller Williams Licensee and not to consider or rely on the results of the exercises in deciding whether to invest in a Keller Williams Market Center. If any part of this notice is unclear, please contact Keller Williams’ legal department.

Material excerpted from The Millionaire Real Estate Agent appears courtesy of The McGraw-Hill Companies. The Millionaire Real Estate Agent is copyright © 2003 Rellek Publishing Partners LTD. All rights reserved.

All other materials © 2004 Keller Williams Realty Inc. All rights reserved.

Printed September 2007.

No part of this publication and its associated materials may be reproduced or transmitted in any form or by any means without the prior written permission of Keller Williams Realty Inc.

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Preface

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. iii

TABLE OF CONTENTS

INTRODUCTION TO MREA ADMIN: LEAD TRACKING AND FOLLOW-UP.......1

1. Ground Rules 2

2. Why You Are Here 3

3. What You Will Learn 4

4. How You Will Learn 6

CHAPTER 1: THE ROLE OF THE LEAD COORDINATOR................................. 7

1. Job Description 8

2. Goal Categories 9

CHAPTER 2: MARKETING THE TEAM – METHODS ...................................... 11

1. Marketing the Team Concept 12

2. Advertisement 13

3. Direct Mail 25

4. Gifts and Promotional Items 29

5. Sponsorship 33

6. Elements of Marketing 36

CHAPTER 3: MARKETING THE TEAM – STRATEGIES ...................................53

1. Contact Management 54

2. Set up Your Database 56

3. Feed Your Database 61

4. Systematically Market to Your Database 64

5. Maintain Your Database 77

CHAPTER 4: LEAD MANAGEMENT – FUNNEL ..............................................82

1. F.A.S.T. Leads 83

2. Funnel Leads 84

3. Phones 87

4. Internet 93

CHAPTER 5: LEAD MANAGEMENT – ASSIGN ................................................97

1. Assign Leads 98

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Preface

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. iv

2. Buyer Leads 99

3. Seller Leads 103

4. Lead Assignment 105

CHAPTER 6: LEAD MANAGEMENT – SOURCE............................................. 108

1. Source Leads 109

2. Referrals 112

3. Analysis of Lead Sources 114

CHAPTER 7: LEAD MANAGEMENT – TRACK ............................................... 118

1. Track Leads 119

2. Lead Follow-up 120

3. Referral Rewarding Tracking 122

CHAPTER 8: PUTTING IT ALL TOGETHER.................................................. 128

1. What Have You Learned? 129

APPENDIX .................................................................................................. 131

1. Path to the 7th Level 132

2. Job Task List 133

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Introduction

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. 1

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Introduction to MREA Admin: Lead Tracking and Follow-Up

In this chapter, you will…

[1] Describe the Ground Rules for this class [2] Identify why you are here [3] Identify what you will learn [4] Identify how you will learn

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Introduction

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. 2

Ground Rules 1. Arrive to class on time and return promptly from breaks.

2. Move quickly when you are instructed to form small groups or partner with someone to role play.

3. Limit your side conversations.

4. Turn your cell phones and pages to vibrate or OFF.

5. Feel free to stand and walk around if you find yourself getting tired.

6. Accept the reality of time and participation.

7. Respect the different learning styles and opinions of others.

8. Help each other learn because none of us is as smart as all of us working together to improve our skills and knowledge.

9. Consider everything we discuss confidential. What is discussed and role-played behind closed doors stays behind closed doors.

10. Have Fun!

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Introduction

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. 3

Why You Are Here

Goal for the class: To give team members the knowledge necessary to create marketing and lead management systems that support millionaire-level production

What do you want to learn from this class?

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Introduction

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. 4

What You Will Learn

About MREA Business Systems

The Millionaire Real Estate Agent courses were created to help you and your team design and implement business systems that will increase your productivity. From lead generation to lead conversion, post-closing to managing the office, the systems you put into place will dictate the efficiency of your team.

The courses in the MREA curriculum present a comprehensive set of systems to improve and maintain key elements of your business. Used in conjunction with the MREA: Operations Manual and the MREA: Scripts Catalogs, the MREA courses will train each member of your team on how to design and implement the systems that affect their particular duties. Once they are trained on these systems, you can easily incorporate the distinctive elements of your team and local market, such as marketing messages and customer services.

Many of the ideas and systems presented in these courses will be a complete paradigm shift for you and your team. The goal is to train your team to go from an entrepreneurial mindset to a purposeful one (E to P). This shift is meant to change you and your team’s way of thinking from that of a sales career to that of a real estate business. If you are in the process of building your team, these courses will show you how to leverage others to get the job done better than you ever could have alone.

Integrating any one of these systems may necessitate changes in current procedures. However, exercise caution in implementing excessive amounts of change in your business too quickly. Trying to completely rearrange many facets of your business all at once can have disastrous effects on your productivity. These changes should come about incrementally over time. For best results, use the 4-1-1 to plan out a progressive incorporation of these systems into your business. And after implementing any changes to your business, you should always play Red Light, Green Light to hold those changes accountable and determine their effect on your team’s productivity.

(continued on the next page)

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Introduction

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. 5

What You Will Learn

MREA Admin: Lead Tracking and Follow-Up Outline

Chapter Topics 1. The Role of

the Lead Coordinator

a. Job Description b. Goal Categories

2. Marketing the Team –Methods

a. Understand your role in getting the team’s marketing message out. b. Advertise the team through various publications, the Internet, and signage. c. Market the team through direct mail to your various target audiences. d. Market the team through gifts for referrals and promotional items. e. Sponsor local charities and organizations to build relationships in your farm. f. Set up systems to maintain the elements of your marketing.

3. Marketing the Team –Strategies

a. Learn about contact management b. Discover how to set up your database c. Learn how to feed your database. d. Learn how to systematically market to your database. e. Discover how to properly maintain your database.

4. Lead Management – Funnel

a. Understand the elements of a F.A.S.T. lead management system. b. Enumerate the benefits of funneling leads through a single point of entry. c. Understand how to handle phone calls leads. d. Understand how to handle Internet leads.

5. Lead Management – Assign

a. Understand how buyer leads are assigned. b. Understand how seller leads are assigned.

6. Lead Management – Source

a. Document your team’s various lead sources. b. Document referring contacts and agents, so they can be properly compensated. c. Analyze your cost per lead for each of your lead generation sources.

7. Lead Management – Track

a. Understand how lead tracking reveals the effectiveness of your team’s lead management systems.

b. Implement lead follow-up systems to make sure leads are properly handled. c. Track referrals through the various steps of the real estate transaction to properly

reward referring contacts and agents. 8. Putting It All

Together a. Summarize what you have learned in this course. b. Create an Action Plan.

You are here.

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Introduction

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. 6

How You Will Learn Get ready for some action-oriented training!

In Order to Learn and Succeed, You Will:

1. Participate in large group interactive lecturettes.

2. Participate in small group discussions and exercises.

3. Observe your instructor as he/she demonstrates the desired skills and behaviors.

4. Rate yourself on a report card at the end of each chapter.

5. Problem solve using case studies and applying what you learn to your own situation.

6. Create an action plan at the end of the class.

Are you ready to learn how to implement systems?

Are you ready to design and implement your systems for marketing and lead management?

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The Role of the Lead Coordinator Chapter 1

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.21– © 2004 KELLER WILLIAMS REALTY, INC. 7

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 1: The Role of the Lead

Coordinator

In this chapter, you will…

[1] Review the job description of the Lead Coordinator

[2] Identify the key goal categories

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The Role of the Lead Coordinator Chapter 1

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.21– © 2004 KELLER WILLIAMS REALTY, INC. 8

Job Description The Lead Coordinator handles the entry and routing of leads for the team. The job responsibilities of the Lead Coordinator are:

1. Maintains contact database by receiving leads from the team, sourcing the leads, assigning them for follow up, and then entering them for ongoing tracking.

2. Responsible for tracking and rewarding referrals.

3. Maintains the file of testimonials.

4. Provides lead follow-up tracking, appointments, and conversions reports to the Lead Specialists and Team Leader.

For more detail on these functions, see the job task listing in the appendix.

Some of the

activities covered

in this course may

not be listed as

part of your job

description;

however, you will

be helping to

support the

responsible team

members to make

sure these

activities get done.

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The Role of the Lead Coordinator Chapter 1

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.21– © 2004 KELLER WILLIAMS REALTY, INC. 9

Goal Categories The 80/20 Rule

The Principle of Least Effort

Truth There is a pattern of predictable imbalance in life. It is called the

80/20 Principle.

Discovery

Vilfredo Pareto (1848-1923) an Italian economist discovered the pattern underlying the 80/20 principle in 1906. While studying patterns of wealth and income in 19th Century England, Pareto found that most wealth went to a minority of the people.

-The 80/20 Principle by Richard Koch

(continued on the next page)

Doing a lot of

things is never a

substitute for doing

the right things.

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The Role of the Lead Coordinator Chapter 1

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.21– © 2004 KELLER WILLIAMS REALTY, INC. 10

Goal Categories

The job description of the Lead Coordinator is both the single point of entry for team leads and assistant to the Marketing and Administrative Manager. The key goals of the Lead Coordinator are:

1. Create, Document, Implement, and Manage the Following Systems:

a. Lead Funneling System

b. Lead Assignment System

c. Lead Sourcing System

d. Lead Tracking System

e. Referral Tracking and Rewarding System

f. Marketing Tracking System

2. Ensure the provision of exceptional Customer Service

3. Learning

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 11

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 2: Marketing the

Team – Methods

In this chapter, you will…

[1] Understand your role in getting the team’s marketing message out.

[2] Advertise the team through various publications, the Internet, and signage.

[3] Market the team through direct mail to your various target audiences.

[4] Market the team through gifts for referrals and promotional items.

[5] Sponsor local charities and organizations to build relationships in your farm.

[6] Set up systems to maintain the elements of your marketing.

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 12

Marketing the Team Concept Getting the Team Word Out

Buyers buy homes; sellers buy image. Therefore, your marketing will focus on two general areas: 1) marketing the listings and 2) marketing the team.

Your Mega Agent will be in charge of crafting marketing messages for both areas. Once those messages have been created, the Listing Manager on the team will be in charge of getting the marketing materials for your listings out to the public. As the Lead Coordinator for you team, one of your responsibilities will be supporting getting the team marketing messages out.

Marketing the team will help you to attract sellers and move you to the number one position in the minds of consumers, so when they think of real estate, they think of your team. This is done through a variety of methods. You will focus primarily on the following four:

1. Advertisement

2. Direct Mail

3. Gifts and Promotional Items

4. Sponsorships

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 13

Advertisement Print Ads

Ad Publications

You will market the team in several print publications. These publications include:

1. Homes magazines

2. Realtor®/professional magazines

3. Newspapers

4. Newsletters for organizations and allied resources

5. __________________________________________

6. __________________________________________

7. __________________________________________

(continued on the next page)

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 14

Advertisement Print Ads (continued)

Placing the Ads

When your Mega Agent has crafted a new team ad, they will hand it over to you for publication.

Before you send it

Before you send a marketing piece off to a publication for publishing, make sure that you check the following:

Spelling

Punctuation

Consistency

o font

o logo

o colors (if applicable)

Contact information

o phone number

o address

o email

o website

o fax

Call to action

Photo is attached

Information (team stats, etc.) is correct/updated

(continued on the next page)

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 15

Advertisement Print Ads (continued)

Before they publish it

When your Mega gives you the ad, mail it to the ad department of the publication. Make sure that you request that the publication send you a copy of their publication when it is printed. Proof the ad for any errors, and follow up as necessary.

Also, you will need to check with the publication to make sure that the ad is placed in the agreed upon location.

After they publish it

You will need to have the publisher send you a copy of their publication after it is published to make certain that the ad is correct. If there are any errors, you must bring them to the attention of both the publisher and your Mega.

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 16

Advertisement

The Internet

According to the National Association of Realtors®, since 2001, the Internet has surpassed newspapers as an information source used in the home search process. Your team may take advantage of Internet consumers by advertising the team website(s) on the Internet itself. The goal of your Internet advertising is to drive traffic to your site and to get that traffic to register on your website for some service or information. That information is then sent back to your team for lead follow-up.

The Team Website

More and more people are going online to find the information they need about buying and selling a home. Internet consumers spend more money and tend to take less time and effort from an agent in getting their home purchased. This is why it is so important to get in front of these consumers.

The following items are features of your website that you will be responsible for updating as needed:

Property search

Ninety-three percent of Internet real estate consumers go online to search for homes. Therefore, your team website should have an IDX/VOW property search feature, so your consumers can go to your site to find their next homes.

The property search function of your website is fed and updated by your local MLS (multiple listing service). Although you won’t actually have to update this information, you will be responsible for making sure that the link is always active. This means checking it regularly to make sure it is operational, and it means making sure that the MLS service is paid if the link is not free. Be sure to calendar necessary payments and link-checking in your contact management software (CMS), which we will discuss later.

(continued on the next page)

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 17

Advertisement The Internet (continued)

Team information

Make sure that your team is featured on your website using a “Meet the Team” page. Give a brief description of each team member, including what their role is in servicing the needs of the customer. Be sure to include a photo of each team member. Keep this team information current with respect to awards, training, and accreditations. This should be checked for accuracy on a monthly basis and should be calendared in your CMS.

Neighborhood/community information

If your team features information about neighborhoods in your geographic farms, you will need to update this on a consistent basis. The easiest way to do this is to ask the neighborhood’s homeowners’ association to allow you to reprint their newsletter on your site or to link to their site if they have one.

Additionally, you may consider obtaining a newspaper that lists upcoming events and posting those events on your site. Most major cities have periodicals that list community events for the entire city. If they have a site, your Mega may consider linking to it, as long as no other Realtors® are linked there. If you cannot link to their site or they do not have one, you can take the major events and list them on your site.

You should set a weekly calendar reminder to update the information on your site.

Buyer and seller information

If you feature buyer and seller reports on your site, make sure that these reports are updated with accurate information. Realtytimes.com and Inman.com are both real estate news sites from which you can obtain all sorts of information about the real estate industry that you may wish to relay to your clients via your website. Set a monthly calendar reminder to update your reports.

Allied vendor information

Your allied vendor information will need to be updated on a regular basis. Make sure that you have their correct contact information and update your site with any specials that your clients are entitled to through your vendors. This can be done on either a monthly or quarterly basis.

(continued on the next page)

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 18

Advertisement The Internet (continued)

Buying Effective Domain Names

One of the hallmarks of any popular Internet site is its URL, or domain name. And since different domain names appeal to different audiences, having more than one domain name that all point to the same site is a good way to generate traffic to your website.

To choose domain names that consumers will remember, generate a list of 20 or more potential domain names that leverage the three key elements of great domain names:

Simplicity

Since 41% of consumers try to guess the URL, keep your domain name simple. The most memorable domain names are composed of 1-4 words, 2-22 characters long.

Credibility

Data from the eMarketing industry has shown that different consumers respond to different domain names. It is a good idea to buy the team name as one of the domain names (i.e., TheGreatHomeTeam.com) that point to your site, especially for those consumers who can only remember your team name. However, this should not be the only domain name for your site. Domain names have come down drastically in price (as low as $5.00 per name per year), and you can point as many domain names as you want all at one site.

Consider site names that address specific questions and issues that buyers and sellers often have (e.g., WhatsMyHomeWorth.com, BostonHomeServices.com, etc.). Individuals who find your site as part of the results of a search engine query may not find your team name as credible as something like CharlestonPremiereHomes.com.

(continued on the next page)

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 19

Advertisement The Internet (continued)

Keyword in URL

The more your domain name reflects the nature of your site, the easier it is for consumers to remember it. The name of your site should answer the consumer’s question, “What am I going to this website for?” Include the city or neighborhood name combined with real estate-related terms (i.e., DenverHomes.com, MileHighHomes.com, etc.).

Once you have a list of domain names, go to GoDaddy.com, and see which are available. Don’t be afraid to register multiple domain names and redirect them to the same website. Instructions for purchasing and redirecting domain names are available on the KW Support Site at http://support.kw.com.

Marketing Your Site

The most effective method of getting your domain name in consumers’ minds is to put it everywhere. Every piece of marketing that you create—including your email signature, email auto-response, newsletters, voicemail message, yard signs, business cards, and letterhead— should have your website address on it.

And don’t underestimate the power of referral—even to your website. The third most popular method for finding a website is word of mouth. Ask everyone you know to visit your website and give you feedback. Offer incentives for people to visit your site, such as vendor coupons or a prize drawing for those who offer you feedback.

(continued on the next page)

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Marketing the Team – Methods Chapter 2

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2– © 2004 KELLER WILLIAMS REALTY, INC. 20

Advertisement The Internet (continued)

Search Engines

Page title

Open any website and you will see a page title in the very top left-hand corner. Search Engines look at these page titles to see if they match the key words their users have entered as a search. If your page title is “The Great Home Team” and consumers are looking up “Colorado homes,” all things being equal, you’re not going to do well in the search placement.

Meta tags

Meta tags are used by search engines to determine whether or not your website matches particular searches. When someone goes to Google and enters “Austin homes,” all things being equal, those websites with “Austin homes” as a meta tag will be given higher placement than those with only “homes” or “Austin, TX.” If you have a KW Agent Website, enter all relevant phrases in the Meta Tag Keywords field under Edit Site Info (on the KW Intranet, under My Information, My Web Site). If you are using a third-party hosted site, make sure that they allow you to create Meta tags.

Also, be sure to enter a good description of your site in the Meta Tag Description field. This description will show up under your Web site link in a search result on a search engine. It will help consumers distinguish viable search matches from the rest.

continued on the next page)

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Marketing the Team – Methods Chapter 2

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Advertisement The Internet (continued)

Keywords in text

In addition to searching for keywords in your Meta tags, search engines also look to see how many times those key words are repeated in the text of your site. For instance, if a consumer typed in a search for New Jersey homes, and you had several articles on your site with those keywords—such as “Homes in New Jersey,” “Steps to Buying a Home in New Jersey,” “New Jersey Home Builders,” etc.—then, all things being equal, you would do well in the search placement.

To find those keywords that are used most often in searches relating to your website, check out Overture’s Search Term Suggestion Tool at http://inventory.overture.com/d/searchinventory/suggestion/. This tool allows you to input keyword phrases that you think might be popular. The tool then tells you how many times people entered that and related search phrases into search engines in the previous month. This is extremely useful in determining which keywords you want to bid on for pay-per-click and paid-for sponsorship solutions.

Site popularity (Cross-linking)

PageRank is one of the factors calculated by search engines like Google to determine a website’s ranking in search results. A webpage is assigned a numerical PageRank value based on how many inbound and outbound links it has.

One of the easiest ways to increase your website’s ranking in search results is to cross-link your site to affiliated vendors’ websites. It will build your referral business and offer all of your vendors additional exposure to Internet consumers and to search engines.

NOTE: If you are going to link to a vendor’s site from your website, you should be the only real estate agent that your vendors link to on their sites. If they feature other agents’ sites on their site, do not put their link on yours.

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Advertisement The Internet (continued)

Paid Placement

There are two categories of paid placement:

1. Pay-per-click

This allows you to select keywords that you think consumers would use to get to your site (for instance, “Atlanta homes”). You then bid how much per click you will pay for that keyword. The higher you bid, the higher you get in the search listings for that particular keyword. You only have to pay when consumers click through the search engine to go to your site. This is a very effective way of being listed high in the results, but it can be very expensive for certain keywords.

2. Paid-for sponsorship

This is based on keywords, as well. However, paying for sponsorship allows you to purchase advertising space that is listed above (Yahoo!) or to the right of the search results (Google). When you pay for sponsorship, you are guaranteed to show up for those keywords you paid for. Where you show up in the order of sponsored ads depends upon how much you paid and how often people are clicking through the search engine to your site.

Search Engine Optimization

If you don’t feel comfortable with the more technical aspects of search engine placement there are several companies that can help you optimize your site. Should you choose to go with a third-party vendor for your website solution, make sure that they offer basic optimization tools that will help you with things like changing Meta Tags, summaries, keywords, page and site titles, and other aspects of your site for higher placement in relevant searches.

If you are considering paying for search engine placement, you should read “Search Engines: What You Need to Know and Nothing More” on the KW Intranet (login is at the bottom of www.kw.com) under Research Projects on the Resources page.

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Advertisement The Internet (continued)

Community/Index Sites

Another effective way of promoting your team, your listings, and your site is to offer your expertise to community sites (a.k.a., index sites). Community sites are websites that feature a wide variety of community information—movie times, local restaurants, community events, etc. Some of these sites may allow you to cross-link to and even advertise on their site to provide their customers with real estate content (free reports, property searching, etc.).

While national index sites (e.g., Citysearch.com) and large local sites (e.g., newspaper classified sites) allow several Realtors® to advertise on them, smaller local index sites may be willing to feature you as their exclusive Realtor®, as long as you explain your value proposition to them clearly.

Your Value Proposition to an index site is simply this: you are a professional real estate team that attracts a steady stream of new customers by marketing and prospecting to a wide audience. In addition to providing real estate content to their site by cross-linking yours to theirs, your marketing efforts will help to generate traffic to their site and thereby increase their sponsorship revenues.

Also, advertising a local index site on your marketing material gives you more credibility in the eyes of the consumer. It also gives the consumers additional content areas that help to ensure repeat exposure to your team’s marketing message.

There are many sites to advertise on:

1. Citysearch.com (www.yourcity.citysearch.com)

2. Evite.com

3. Local job sites (sometimes hosted by local newspaper; e.g., www.austinclassifieds.com)

4. Company websites (locally based companies who use your team’s relocation services)

5. Community organization sites

6. Homeowner Association/Neighborhood sites

7. ________________________________________________

8. ________________________________________________

9. ________________________________________________

10. ________________________________________________

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Advertisement

Tracking Advertising

Team Advertising Publications

Use the Team Advertising Publications spreadsheet to keep track of all the costs associated with your team’s advertising—this includes Internet advertising. If your team places an ad in a particular publication on a regular basis, calendar the ad in your CMS for the next occurrence. Make sure that you set the reminder far enough in advance that you have sufficient time for preparation.

Tracking Internet advertising

1. Under “Team Advertisement Title” list the keyword (e.g., “Austin Homes”) you are using for pay-per-click or paid-for sponsorship or the website URL that is being optimized (in the example below, “PPC” is used to denote pay-per-click).

2. Under “Team Publication Title” list the name of the search engine (e.g., Google, etc.) you are using for pay-per-clicks/paid-for sponsorship or the name of the search engine optimization company your team is using.

3. For pay-per-click, make sure to include your pay-per-click rate under “Cost.”

A sample Team Advertising Publications spreadsheet is provided on pg.1 of the Sample Forms Packet.

(continued on next page)

You should set a

maximum dollar

amount with the

search engine host

for your pay-per-

click ads. This will

prevent you from

exceeding your

lead generation

budget. Document

this on the Team

Advertising

Publications

spreadsheet under

“Cost.”

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Direct Mail Farming

Direct Mail Pieces

Your Mega Agent and Buyer and Listing Specialists market and prospect a given geographic area and demographic populations that are referred to respectively as your geographic and demographic (sometimes called “people”) farms. You will help to market your team to your farms by sending several pieces of marketing to them, such as:

1. Just Sold postcards

2. Seasonal/Holiday cards

3. Special event (community events) cards

4. Newsletters

5. Quarterly market updates

6. ____________________________

7. ____________________________

8. ____________________________

Sending Direct Mail

Your Mega will create your team’s direct mail marketing material or contract a third-party vendor to do so. When you are given a piece of direct mail:

Be sure it includes:

o Team name

o Team contact information (address, phone number, and email address)

o Team website URL

o A quick reminder and instructions on how to give you referral business

o The team’s USP (Unique Selling Proposition)

o A call to action (e.g., “Call today for your free report on …”)

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Direct Mail Farming (continued)

Send it to the printer.

Make sure that the printer sends you a proof before printing the entire order. If there are any errors in the proof, bring them to the attention of both your Mega and the printer. Repeat proofing process as needed.

If your printer also handles mailing, they need to be told where to mail the pieces and the date of mailing.

Bulk mail companies and some printers have their own list of addresses for given areas. If you are purchasing a mailing list, check with your local vendors to see who is offering the best rate. If you use a bulk mail company, make sure that the printer sends the pieces to the bulk mail vendor. Whoever sends out the piece should send a copy to your team for quality assurance. If there are any errors in the final mailing, bring them to the attention of both your Mega and the printer.

The pieces should be tracked using the Mailers Spreadsheet. In addition, it’s a good idea to keep a copy of every mailer that goes out to use when coming up with future marketing ideas.

Just Sold Postcards

Just Sold cards are postcards sent out to your contacts announcing homes that have sold and how much they sold for. Because nothing succeeds like success, your team will take every opportunity to capitalize on every success you can—not just on yours, but others’ successes, as well.

Your team doesn’t even have to have sold any homes to send out a Just Sold card. You just have to know how many homes have sold in a given area each month and what the homes sold for. Another great thing about Just Sold cards is the fact that they demonstrate your knowledge of real estate in the neighborhood.

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Direct Mail Farming (continued)

Your team’s Listing Specialists will send out Just Sold cards for the homes they sell, but you should also be sending out Just Sold cards once a month detailing the number of homes that sold, the average selling price, etc. When creating a Just Listed/Just Sold card:

1. Your Mega Agent will tell you the types of information to include on your cards.

2. Check your MLS to find out how many homes have sold in your geographic farming area, what those homes sold for, square footage, etc.

3. Enter the data into your Just Sold card template and attach any photos before you mail the template to the printers that make your card.

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Direct Mail

Tracking Direct Mail

Mailer Spreadsheet

The Mailer Spreadsheet is for tracking the cost of your direct mail marketing. Keeping track of the cost associated with your direct mail will allow you to later determine the cost of leads from those sources of lead generation. If your team sends a particular marketing piece out on a regular basis, calendar the piece in your CMS for the next occurrence. Make sure that you set the reminder far enough in advance that you have sufficient time for preparation.

A sample Mailer Spreadsheet is provided on pg. 2 of the Sample Forms Packet.

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Gifts and Promotional Items Gifts

The intent of your marketing is to consistently touch your target audience to create, not only repeat business, but referrals, as well. And once one of your contacts begins to advocate your team, you want to encourage this by rewarding their behavior.

You must be systematic in your approach to rewarding a referral. There are three things to keep in mind when it comes to doing this:

1. Treat the referral source even better than the referral.

2. Show your appreciation at every stage of the transaction: interview, consultation, contract, and closing. The important thing is that you reward them right away, so that they repeat the behavior soon.

3. Reward the right behavior. Your contacts aren’t in the business of screening clients before they refer them to you—the act of referral is what should be meaningfully rewarded. That is what you want them to do again and again.

See “Lead

Management:

Track” for

instructions as to

when to send

referral gifts.

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Gifts and Promotional Items

Promotional Items

Promotional items are a good way to keep the team’s marketing message in front of your clients on a consistent basis. Depending on the item, your clients may see the team’s marketing message every time they go to the refrigerator (magnets), have a cup of coffee (mugs), or perform other daily activities.

When and to whom you give promotional gifts will vary. Generally speaking, you will give these gifts during holidays and at major events (sponsorships). Also, your Buyer and Listing Specialists will give promotional items away as they prospect their farms and databases. Using this type of marketing to add value and help massage the act of asking for business is a great way of prospecting.

When a big promotional event—such as a team-sponsored charity race—is coming up, check with your Mega Agent to find out about the promotional item they want to give out to participants. You will need to determine:

1. What item?

2. How many?

3. What marketing message?

4. What is your budget?

(continued on next page)

Always price the

items with at least

two different

vendors to get the

best price. Check

the KW Intranet

Marketing Page

under “Vendors”

for a list of pre-

approved

marketing vendors.

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Gifts and Promotional Items Promotional Items (continued)

Gadgets, Goods, and Gear

What items you use for promotions will vary. The following are all examples of items agents have sent to their contacts:

1. Pens (think quality)

2. Mugs (think big and different)

3. Note cubes (with your name and number)

4. Measuring tape

5. Sewing kits, first aid kits, or tool kits

6. Fire extinguishers or smoke detectors

7. Calculators

8. Magnets

9. Refrigerator calendars

10. Clocks

11. Recipe books (create with a team of agents, vendors, and allied resources)

12. Gift certificates (consider gift certificates from companies such as Amazon.com as they are quick and easy to order, and you can send them via e-mail to save postage)

13. Flowers or plants

14. Wine or champagne

15. Gourmet coffee or tea

16. Pumpkins

17. Christmas cookies or candies

18. Independence Day flags

19. _______________________________________________

20. _______________________________________________

21. _______________________________________________

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Gifts and Promotional Items

Tracking Gifts and Promotional Items

Promotional Items Spreadsheet

You will use the Promotional Item spreadsheet to keep track of all promotional expenditures for the month. If a promotional item is ordered on a regular basis, calendar the item in your CMS, making sure that the reminder is set far enough in advance that you have sufficient time for preparation.

A sample Promotional Item spreadsheet is provided on pg. 3 of the Sample Forms Packet.

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Sponsorship Seeking Sponsorship Opportunities

When marketing the team, make sure that the team’s marketing dollars are spent on activities that will reach your target audiences. One easy way of targeting your geographic farm is to sponsor events held in and around your farm area. Most communities have several annual events that require sponsor donations.

Finding local events

To find local events for your team to sponsor:

1. Each Monday, check the local paper for upcoming events in and around your geographic farm.

2. Call schools in and around your geographic farm. Offer to sponsor school publications, events, and sports.

3. Speak with heads of any organizations or groups in and around your geographic farm.

4. Speak with heads of any organizations or groups that your team members are part of.

Methods of sponsorship

When you find an event, speak with your Mega Agent to find out if your team will offer to sponsor it. If your Mega agrees to help with the event, call the organizing body to offer sponsorship. Depending on the event, your Mega may want to offer:

1. Sponsorship money (in exchange for the positioning in the events marketing materials, such as posters, t-shirts, etc.)

2. Promotional items

3. Marketing

4. Labor (event setup, etc.)

5. Hosting a booth

6. Seminar/Guest speaking (real estate investing, how to buy your first home, etc.)

7. _____________________________________

8. _____________________________________

(continued on next page)

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Sponsorship Seeking Sponsorship Opportunities (continued)

Sponsoring Organizations

Community involvement is one of the best ways to stand out in your market. Taking an active role in sponsoring, organizing, or even having booths at local events helps to build relationships, because you are getting involved with the things that members of the community care about.

Think about the types of organizations that hold regular events that you can help to sponsor:

1. Homeowners’ Associations

2. Neighborhood Watch Groups

3. PTO/PTA/School and Districts

4. Builders’ Associations

5. Toastmasters

6. Jaycees or Jaycettes

7. Churches or Synagogues

8. Veteran’s Association

9. Boy/Girl Scouts

10. Knights of Columbus

11. Chambers of Commerce

12. Rotary Club

13. Home shows

14. Building Industry Associations

15. _____________________________________

16. _____________________________________

17. _____________________________________

18. _____________________________________

19. _____________________________________

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Sponsorship

Tracking Sponsorship Opportunities

Sponsorship Opportunities Spreadsheet

Use the Sponsorship Opportunities spreadsheet to track all of the events and organizations that the team is sponsoring. If an event your team sponsors occurs on a regular basis and your Mega wishes to continue the sponsorship, calendar the event in your CMS for the next occurrence. Make sure that you set the event reminder far enough in advance that you have sufficient time for preparation.

A sample Sponsorship Opportunities spreadsheet is provided on pg. 4 of the Sample Forms Packet.

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Elements of Marketing The Team Message

As mentioned earlier, your Mega Agent will be the one to design your team’s marketing messages. Within these messages, your Mega Agent may use certain elements for which you will be responsible:

1. Testimonials

2. Statistics

3. Introduction to the Team

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Elements of Marketing

Testimonials

While telling potential buyers and sellers how successful your team is at finding and selling homes can be effective, when other people brag for you, it lends the statements more credibility in the eyes of potential clients. That is why you should include testimonials in several of your team’s marketing pieces and in your Buyer and Seller books, as well.

One of the goals for your team is to exceed the expectations of your customers. The fact that your sellers and buyers will be given more attention from your team’s dedicated specialists means that you will likely have a good percentage of your clientele that is so satisfied with their experience that they are willing to write testimonials about your team for the edification of other potential clients.

To prompt clients to write testimonials—and to improve your team’s service—the team’s Satisfaction Survey (see MREA: Operations Manual) should be sent out to team buyers and sellers no more than one week after closing. In addition to asking for feedback in specific areas, the survey contains a place for satisfied customers to write a brief testimonial for the team.

When you receive a testimonial, Thank You card, or letter praising the team’s service, give it to the Mega for review. All testimonials that are approved for use in team marketing by your Mega should be maintained in a “Testimonials” file.

Question What should a good testimonial contain?

(continued on next page)

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Elements of Marketing Testimonials (continued)

Seller-oriented testimonials

Testimonials to be placed in marketing aimed at sellers should include statements that indicate:

1. The client’s home sold quickly.

2. They got all of their asking price.

3. They were impressed by the service.

4. ______________________

5. ______________________

6. ______________________

Buyer-oriented testimonials

Testimonials to be placed in marketing aimed at buyers should include statements that indicate:

1. The team helped the client find the perfect home quickly.

2. The team negotiated a great price.

3. The transaction went smoothly.

4. They were impressed by the service.

5. ______________________

6. ______________________

7. ______________________

NOTE: It is a good idea to keep a digital photo of the homeowners (either at their sold home or the home they just purchased, or one of each) on file in the team’s database. Make sure that you get a release from the homeowner to use their picture in your marketing.

(continued on the next page)

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Elements of Marketing Testimonials (continued)

Exercise

Design the perfect testimonial

Directions:

1. On the next page is an excerpt from the Satisfaction Survey in the MREA: Operations Manual. Write a sample testimonial for your team that features all of the necessary elements of a good testimonial.

2. You may use this as an example when instructing willing clients on how to write a testimonial for your team.

Time: 15 minutes

(continued on the next page)

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Elements of Marketing Testimonials (continued)

If your purchasing or selling experience exceeded your expectations, would you be so kind as to give us a brief testimonial. We would also like your permission to use this in our advertising and marketing: ______ (please initial).

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Elements of Marketing

Statistics

Teams bring resources to the table that solitary agents are unable to bring. One of those things is specialization. Because the team has dedicated Listing Specialists and Buyer Specialists, you are able to offer sellers better marketing leverage, more buyers to look at their home, and better negotiators. This all translates to two things that resonate with sellers:

1. Fewer days on market

2. Higher percentage of asking price.

It will be your responsibility to calculate these numbers for the team and to keep abreast of these stats for your local market. Ask your Mega how often you’ll be updating theses numbers and calendar a recurring reminder in your CMS to remind you to get them done.

Days on Market

Days on Market (DOM) is the number of total days a given listing has been for sale. By averaging together all of your team’s listings’ days on market, you will get your team’s average DOM, which can be part of a powerful message to seller leads. If your team’s average DOM is lower than the market’s average, it tells potential sellers that your team will sell their home quicker than most.

Check your MLS or your local Board of Realtors® to find out what the average days on market is for your area. For the average days on market for each of your Listing Specialists you can check the “Listing Detail – All” report for each specialist on the Reports page of the KW Intranet (login is at the bottom of www.kw.com). To calculate the average days on market for your team, check the Listing Detail report for the current year. For each of your Listing Specialists, take the “Average Days On Market” for that agent and multiply that number by the “Number of Listings” that agent has taken (closed and active). When you have done this for all of the Listing Specialists on your team (including the Mega), add these numbers together, and then, divide by the total number of listings taken for the team (closed and active) for the current year.

(continued on the next page)

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Elements of Marketing Statistics (continued)

Formula

( Average Days on Market for your Mega Agent x Number of Listings for your Mega Agent)

+ (Average Days on Market for Listing Specialist “A” x Number of Listings for Listing Specialist “A”)

+ (etc...for each Listing Specialist on the team)

Total Number of Listings of the Team

= Average Days on Market for Team

NOTE: To obtain the necessary data for this method, you will need the login and password to the KW Intranet for each of your Listing Specialists and Mega. Alternatively, your Transaction Coordinator can record the Days on Market into a “DOM” field in your database for every listing for the team. This would enable you to sort your database for DOM, add up all the days on market for all of your listings, and divide by the total number of listings.

(continued on the next page)

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Elements of Marketing Statistics (continued)

Percentage of Asking Price

The Percentage of Asking Price represents the amount of money a seller was able to get for their home at closing as a percentage of how much they originally listed the house at. The higher this percentage is, the more powerful this statistic will be as part of your marketing message to potential sellers. If this number is higher than the market average, then seller leads can see that you will get them more money for their home.

Check your MLS or your local Board of Realtors® to find out what the average Percentage of Asking Price is for your market. For the average Percentage of Asking Price for each of your Listing Specialists and your Mega, you can check the “Listing Detail – All” report for the Mega and each specialist on the Reports page of the KW Intranet. For each of your Listing Specialists, take the “Average Sale Price” for that agent and divide that number by that agent’s “Average Original Listing Price.” Multiply that number by 100 to yield that agent’s percentage of listing price. Multiply the percentage times the total number of listings for that agent. Add this number with the same number for each of your Listing Specialists. Divide by the total number of listings taken for your team, and this is your team’s average Percentage of Asking Price.

Formula

(((Avg. sale price for your Mega Agent / avg. original listing price for your Mega Agent) x 100) x total number of listings taken by your Mega Agent)

+ (((Avg. sale price for Listing Specialist “A” / avg. original listing price for Listing Specialist “A”) x 100) x total number of listings taken by Listing Specialist “A”)

+ (etc...for each Listing Specialist on the team)

Total Number of Listings of the Team

= Average Percentage of Asking Price for Team

(continued on the next page)

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Elements of Marketing Statistics (continued)

NOTE: To obtain the necessary data for this method, you will need the login and password to the KW Intranet for each of your Listing Specialists. Alternatively, your Transaction Coordinator should be recording the original list price, the current list price, and the sales price in your database for every listing for the team. This would enable you to sort your database for sale price and original list price, add up the two figures and divide the total sale price by the total original list price, and multiply by 100 to determine your team’s Percentage of Asking Price.

Exercise

What are the stats for this team?

Directions:

Below are some numbers for Listing Specialists on a team. Using the given numbers, calculate the Average DOM and Percentage of Asking Price for the team.

Time: 15 minutes

Mega Agent: Cynthia Stout

Listing Specialist: Christopher Robbins

(continued on the next page)

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Elements of Marketing Statistics (continued)

Listing Specialist: Cindy Who

Listing Specialist: Harold Potter

Average DOM: _______

Average Percentage of Asking Price: _______

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Elements of Marketing

Introduction to the Team

Your team will have several publications, including your team website, that feature information about your team members. Several of these publications, including your Buyer Book and Seller Book, will feature a section entitled “Introduction to the Team.” This document will contain two pages of information: 1) Team Resume and 2) Meet the Team.

Team Resume

Your Team Resume will be made up of four elements:

Professional Qualifications

1. Membership in real estate organizations (city, state, and National Association of Realtors®; etc.)

2. Rankings among local, regional, state, and national Realtors® (e.g., “Number one Baltimore Realtor® in homes sold 2001, 2002, 2003”)

3. Business experience

4. Professional development organization membership (Buffini, Brinton, etc.)

5. _________________________________________

Professional Designations

1. CRS

2. CRP

3. eAgent (Eagentc’s free technology certification)

4. ePRO

5. ____________________

6. ____________________

7. ____________________

(continued on the next page)

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Elements of Marketing Introduction to the Team (continued)

Business Achievements

1. Yearly closed transaction list (you may include production dollars; ex: “2003 – 200 Closed transaction ($32 million)”)

2. Awards

3. ____________________________

Education

1. Training organization membership (KWU, Floyd Wickman, Dale Carnegie, etc.)

2. Training designations (Blackbelt from KWU, etc)

3. Collegiate degrees

4. ____________________________

5. ____________________________

(continued on the next page)

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Elements of Marketing Introduction to the Team (continued)

Meet the Team

The Meet the Team page of your “Introduction to the Team” is where you will actually introduce each of your team members. Personalizing the team with potential clients is a good way to proactively deal with objections from potential clients who may think a large team can’t provide them personal service. For each of your team members, you should include:

Photo

Each of your team members should have a digital head shot on file. You will need to resize all of the photos to the same size using photography software.

NOTE: If possible, you should get all of the team’s photos done by a professional. But at the very least, all of your Buyer and Listing Specialists should have their head shots done professionally.

Title and Function

You may choose to list the various team members’ titles. However, it is a must that you list their function on the team in terms of how each team member supports the client. Titles such as “Transaction Coordinator” don’t necessarily convey to buyers and sellers the value of having such a team member working for them.

Biography

Biographies should be a one sentence-long answer to the question, “What’s this person’s background?” You should mention where they are from and any higher education or professional designations they may hold (ex: “A native of Charleston, Cindy settled in Austin after attending UT for a degree in Marketing.”).

(continued on the next page)

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Elements of Marketing Introduction to the Team (continued)

Hobbies

Again this should be one sentence long. List sports, games, recreational activities, etc. (ex: “She enjoys coaching a little league softball team and running.”).

Contact information

Listing the contact information for each team member allows sellers and buyers who are working with the team to get in touch with the appropriate team member without having to go through several different people and without having to tie up the main line for the team. Be sure to include team members’ direct lines or extensions and email addresses.

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Elements of Marketing

Marketing Files

In order to document and hone your marketing program, you will need to save and catalog all of the various elements and pieces of your marketing. You should have a separate storage drawer or file cabinet to house all of this material. In it, you will keep:

1. An example of each direct mail piece sent out (Just Listed cards, newsletters, etc.)

2. Your team’s testimonials folder

3. Cut outs of magazine and newspaper ads

4. Copies of bills and invoices from publications and other marketing-related vendors

In addition to the hardcopy material, you will need to organize a digital “Marketing” folder on the team’s computer network that houses all of the various marketing spreadsheets and related materials. In the main folder, you will have the following sub-folders:

1. Advertising

2. Direct Mail

3. Gifts and Promotional Items

4. Sponsorship

NOTE: You should also create email sub-folders for all of your various marketing activities in your CMS or email client.

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My Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.

2. Review the topics for this chapter.

3. Grade yourself on your mastery level of each topic (A - F). Be honest with yourself. At the end of this course, you will use this scorecard to evaluate your weak areas and develop an action plan for complete mastery of the subject matter.

Time: 5 minutes

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Give an Aha!, Take an Aha!

Exercise

Directions:

1. Look at numbers 1 and 2 below. Think about what concepts you are still struggling with. And think about any Aha!’s you may have had about being in the business of lead generation.

2. Your instructor will throw out an Aha! topic. If you have an Aha! about that topic, raise your hand and share.

3. When you have given your Aha!, you will name the next Aha! topic for someone else to share. If you are struggling with a particular concept or would like to hear someone else’s take on it, solicit an Aha! on the topic.

4. Put your Aha! or the Aha! of someone else into action using the worksheet below

Time: 10 minutes

1. The concept I’m still struggling with:

2. The single most important “Aha!” for me:

3. How I will use this “Aha!”:

4. How I will benefit:

5. What I need to do to make this happen:

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MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 3: Marketing the

Team – Strategies

In this chapter, you will…

[1] Learn about contact management. [2] Discover how to set up your database. [3] Learn how to feed your database. [4] Learn how to systematically market to your

database. [5] Discover how to properly maintain your

database.

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Contact Management Your Business is Your Database

Truth The success of your team will be in direct proportion to the

size and quality of your contact database.

Your team’s ability to generate leads—and therefore, grow your business—is tied to your ability to amass and systematically market to a large database of contacts. The more contacts you add to your database and the more efficiently you manage those contacts, the more leads your team’s marketing and prospecting will generate. This is why we say your business is your database.

Your team’s marketing strategy will revolve around your database and how it is implemented. One of your chief responsibilities will be to oversee the database. If you are not already familiar with the software that your team uses to run the contact database, you will need to learn it inside-out, since you will be responsible for the administrative activities of maintaining it. These duties include:

Setting up your database

1. Creating necessary contact information fields

2. Creating automated plans

3. Creating database groups for targeted marketing and prospecting

Feeding your database

1. Overseeing the entry of buyers, sellers, prospects, and business contacts

2. Checking that contacts are placed in the correct group

3. Checking that contacts are launched on the proper plan

(continued on the next page)

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Contact Management Your Business is Your Database (continued)

Systematically marketing to your database

1. Making sure that team members follow through on their assigned tasks for plans

2. Executing appropriate touches

Maintain your database

1. Update their contact information.

Completing a real estate transaction with the team usually involves moving. So for all of your clients completing a transaction, you will need to update their contact information with their new address and phone number.

2. Keep them on the right plan.

3. Keep them in the correct group.

4. Keep current notes on correspondences.

Multiple team members will be accessing your team’s database and interacting with clients. To avoid overlap and missed opportunities, it is important that each team member record their interactions with contacts in the database.

Some database software will automatically record when you send emails to contacts in the notes field. However, team members will still need to record when they speak with contacts over the phone or in person and when they send letters, Thank You notes, and other personal correspondence to contacts. Contact notes should be dated, and the dates in the notes should coincide to some degree with the plan dates.

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Set up Your Database Contact Information

If your Mega Agent has not already set up a database, you will need to do so. Use Contact Management Software (CMS) to set up and use your database effectively. CMS is more that just an email client (e.g., Netscape, Hotmail, etc.), because it allows you to maintain, sort, and automate certain parts of your contact database.

A good CMS will allow you to customize many aspects of your database. You will need to customize the contact information portion of the CMS with the following fields:

For all contacts

The following information is a must have for all of your contacts:

1. Name 2. Phone number (home, mobile, office, and fax) 3. Email address 4. Home address 5. Notes on past correspondence 6. Source 7. Database group 8. Active (Are they actively searching or selling or are they prospective

buyers or sellers?) 9. Status level (A, B, or C) 10. Contact type

a. FSBO b. Expired c. PTA

d. Women’s Symphony League

e. _____________________________

f. _____________________________

g. _____________________________

(continued on the next page)

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Set up Your Database Contact Information (continued)

For your inner circles

The following information is nice to have for all of your contacts, but is a must have for your inner circles:

1. Birthday 2. Spouse’s/children’s birthdays 3. Children’s names 4. Anniversary 5. Hobbies 6. Job position 7. Company

NOTE: You should calendar all important dates (birthdays, anniversaries, etc.) and set calendar reminders, so the team remembers to call these contacts on those dates. Usually the Mega will be in charge of the inner circles of the database. Any birthday or special occasion reminders for these types of contacts should be assigned to the Mega in your CMS.

Customizable fields

The top contact management software will allow you to create customizable fields for information you would like to keep on your customers. These fields allow you to perform quick searches of your database to find contacts of a particular nature to send out specific marketing messages. Such fields might include:

1. Name of team’s Buyer/Listing Specialist working with contact 2. Year closed 3. Co-op agent 4. Referring agent 5. Investor 6. Adopted buyer (non-team buyer who bought a team listing) 7. Sales price 8. Description of house 9. Interest rates 10. Type of loan

11. _____________________________________________

12. _____________________________________________

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Set up Your Database

Grouping Your Contacts

Mets and Haven’t Mets

As part of building your database, you will classify each of your contacts into categories and groups:

You are generating leads from two categories

1. People you have Met, and

2. A targeted group of people who you Haven’t Met.

These categories yield three types of business

1. New (from Haven’t Met)

2. Repeat (from Met)

3. Referral (most likely from Met)

Subdivide your categories into groups

Your Met and Haven’t Met databases should be further divided into groups of relevance. Generally speaking, you will divide your Haven’t Met database into the public en masse and a targeted portion of the public. Your Met database will be divided according to their relevance to your business.

Use the chart on the next page to guide you in sorting your database into groups.

(continued on the next page)

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Set up Your Database Grouping Your Contacts (continued)

Category Group Definition Lead Generation Strategies

General Public

People you haven’t met and who don’t know you.

Implement appropriate Marketing and Prospecting activities from the two broad prospecting categories and the eleven broad marketing categories.

Haven’t Met

Target Group

People you haven’t met and don’t know. It differs from the General Public in that you have targeted them as people with whom you’d specifically like to do business.

Implement a very specific marketing campaign to this group. Utilize the 12 Direct strategy.

Network Group

Individuals who know you because you have met them either in person or by phone. Might do business with you.

Launch a tighter; more directed marketing campaign in hopes of building a strong relationship and generating more business per person than from the Target Group. Utilize the 8 by 8 and 33 Touch strategies.

Allied Resources

A very select subset of your Met Group. Individuals in related fields that you expect either to do business with or to receive business leads from every year—usually, multiple times. Can and/or have done business with you.

Market to them in the same manner as your Network Group. In addition, meet with them one-on-one for a meal, a visit, or a party several times a year.

Advocates

People who not only have done business with you in the past and will continue to do so in the future, but will actively bring other people to you to do business, as well.

Market to them in the same manner as your Allied Resources. Some (the most influential) you would see as often as once a month.

Met

Core Advocates

Not only can and will do business with you, but they are well placed—owner of a sports team, executive at a large corporation, a builder, etc.—and will send you a steady stream of clients.

Market to them in the same manner as your Advocates. In addition, you should be providing some sort of service to them that improves their business as they are referring people to you to increase your business.

(continued on the next page)

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Set up Your Database Contact Information (continued)

The Path to the Inner Circle

Once you have established your categories, your team will systematically target each of your groups with marketing messages specifically designed for them. Your team’s goal in marketing to your database is to constantly be moving people from the General Public, whom you have never met, to the inner circles of your Met database— your Allied Resources, Advocates, and Core Advocates. The following diagram illustrates how this would work:

Your Strategy: Generate Leads and Move People into Your Inner Circles

General Public Haven’t Met Group

Target Group Haven’t Met Group

Network Met Group

Allied Resources

Advocates

Core Advocates

5 50 100 1,765 16,000 At large

8 by 8 33 Touch

12 Direct

1 on 1

HAVEN’T MET

MET

MET

(Inner Circles)

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Feed Your Database Entering Contacts

Your team will rely on prospecting and marketing to find and bring in new contacts for your database. As keeper of the database, you will need to oversee all new database additions. This means that your team will need to notify you when:

A new buyer or seller is entered

After an initial Buyer/Seller Interview, the Buyer Specialist or Listing Manager will enter the contact into the database. Buyer Specialists or the Listing Manager should make a copy of a completed Buyer/Seller Interview form and submit it to you. You’ll need to compare the forms to the database entry to make sure that the information is correct.

After the consultation appointment, you will need to get a copy of the VIP Questionnaire from the Buyer/Listing Specialist to ensure that their personal information has been entered and their birthday calendared.

A prospect is entered

Your Telemarketer and Buyer and Listing Specialists will frequently meet good leads that require special plans (FSBO’s, Expired/Withdrawn Listings, etc.). These leads should be entered into the database and launched on the appropriate plan.

A non-buyer or –seller is entered

Frequently, your team members will meet individuals who, though they are not presently looking to buy or sell a home, would make good additions to your database. Such an individual might include an Allied Resource, an agent who referred business to the team, or any number of business contacts.

When team members meet such an individual, they must send you an email with the name of the individual and a brief description of why they were entered into the database.

(continued on the next page)

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Feed Your Database Entering Contacts (continued)

Contact Follow-up

In addition to verifying their contact information (name, phone, email, etc.), you will need to scrutinize the notes section for each contact to make sure of the following:

Groups

Check the group that the contact has been placed in for accuracy. If the team member has placed them in the inner circles of your database, make sure that there is sufficient documentation to support this. For example, if they are listed as an Advocate, make sure that there is something in the notes that indicates that they referred someone or have at least pledged to refer someone.

Source

Your team will track the source of all of your leads. If the source of a lead is an individual who referred the lead to the team, make sure that the referring individual has been added to the database, as well. For the referring contact, check the notes to see that the proper action has been taken in regards to rewarding them for the referral. If they have not been entered, the team member will need to get the source’s contact information from the lead.

Activity

You will want to know if the contact is an active buyer and/or seller or a prospective buyer and/or seller. If they are an active buyer and/or seller, make sure that a consultation has been scheduled. If the assigned specialist has not scheduled a consultation, or the contact is designated as a Prospective Buyer and/or Seller, the contact should be placed on the appropriate 8 by 8 plan for prospective buyers or sellers.

Status or Level of Urgency

Your Mega will determine how you will classify the urgency of your prospective clients. For example, an “A” seller would be someone who is ready to do business immediately or within 1 month, whereas a “B” seller may be someone who will not be ready until 1-3 months from now.

(continued on the next page)

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Feed Your Database Entering Contacts (continued)

Plan

In addition to the previously mentioned instances, you will need to check the plan that the contact has been launched on. Make sure that the plan is appropriate to the contact.

Truth The easiest way to prevent contact follow-up from

overwhelming your schedule every week is to train your team members on how to properly enter contacts.

Everyone must use the same procedure in entering clients. Your Mega will set the policy for how your CMS will be used. They will define your categories, sources, and status codes, and then you will

make sure that these are used consistently. Your database procedures will undoubtedly change over time as your team hones their skills. This is why you should be training

your team at least once or twice a year and as changes necessitate.

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Systematically Market to Your Database Automated Plans

Five Challenges

There are five challenges when it comes to organizing your marketing approach to your database:

1. You should have a large number of contacts in your database.

2. You should be communicating with each contact frequently.

3. Different team members will communicate with contacts at different times.

4. Your marketing messages to contacts will be different depending on the group, activity, etc.

5. Your contacts’ relationships with the team will change over time and so too will how and why you communicate with them.

Plans

Using a CMS that provides you with customizable automated plans allows you and your team to overcome these challenges in a systematic way that maximizes the team’s productivity. Plans are preset to-do lists that you can launch for a given contact in your CMS. For any given task on the to-do list, the CMS plan will remind the responsible team member of the task when it is time to complete it.

Customizable plans are a must have for having a systematic approach to your database. You will use different plans not only for different groups (i.e., sphere, allied resource, etc.), but for different points in the team’s relationship with a given contact (i.e., prospect, client, past client, etc.). Three general types of plans that will help you market to your database are:

(continued on the next page)

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Systematically Market to Your Database Automated Plans (continued)

12 Direct

For your Haven’t Met database (i.e., purchased address lists), use the 12 Direct program to market to them and try to move them into your Met database.

8 x 8

When you or a team member meets someone and gets their contact information, you or the team member will enter them in your database as part of one of the groups in your Met database (Network Group, Allied Resource, etc.). You will then either begin an 8 x 8: General or feed them through a specialized 8 x 8 specific to their needs, for example an 8 x 8: FSBO plan for sellers who are trying to sell their own home (For Sale by Owner).

33 Touch

When a contact finishes their 8 x 8 plan, put them on the 33 Touch: General plan or a 33 Touch plan specialized to their needs—for example, a 33 Touch: Client for Life plan specifically for your past clients.

NOTE: If a contact begins a real estate transaction with the team, stop whatever lead generation plan they are on during the transaction. The Listing or Buyer Specialist or Transaction Coordinator will launch them on the appropriate transaction plan. When they are finished with the transaction, start them on the appropriate 33 Touch plan.

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Systematically Market to Your Database

12 Direct

12 Direct is a systematized method of working the Haven’t Met portion of your database. It stands for twelve direct mail marketing pieces mailed out annually (one every month). Your Haven’t Met database includes your mailing lists for farm areas and/or any other demographic groups. Typically such lists can be obtained through either the US Postal Service or a direct mail firm.

You will work with your Mega Agent to create marketing pieces that are focused on promoting the benefits of working with you and your team and sent to mailing lists obtained from your local printer or direct mail company.

To save time and money, plan and set up a twelve-month campaign at the beginning of the year. You can then calendar key events for your 12 Direct in your CMS, so it can go on automatic pilot for the year. For each month, you will have several events in a sequence to get your mailers sent out. An example month might look like this:

Day 1 Create marketing piece. Mega and MAM

Day 2 Send marketing piece to printer MAM

Day 3 Obtain proof from printer. MAM

Day 4 Give printer feedback and coordinate mailing area with printer Mega and MAM

Day 5 Check with printer to make sure they sent out piece. MAM

Day 6 Check “forwarding address requested” against database. MAM

Every single touch should have a quick

reminder and

instructions on how to give you referral

business.

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Systematically Market to Your Database

8 by 8

New contacts, who are not in the process of completing a real estate transaction with the team, should be placed on an appropriate 8 x 8 plan. The 8 by 8 is a high-impact, high-saturation technique that is designed to put you in the Number One position in the minds of everyone in your contact database within an eight-week period. Use the 8 by 8 to jump-start your 33 Touch and establish a relationship that can be sustained and grown.

Modified 8 by 8

Your Mega will customize your 8 by 8 to fit their style. They may also create several different 8 by 8 plans to focus on different target audiences:

8 x 8: General

This plan is a non-specific 8 by 8 that is aimed at new additions to your sphere of influence. The plan is designed to introduce you to the individual and help you begin a relationship.

8 x 8: FSBO

This plan will be launched when your Listing Specialists or Telemarketer find a FSBO either in their geographic farm or in the local paper. The plan is designed to convince the seller that the team could do a better job of selling their home.

8 x 8: Expired/Withdrawn

This plan will be launched when your Listing Specialists find an Expired/Withdrawn listing in the MLS. This is an example of a highly modified plan since it is designed to be completed within two weeks—not eight—due to the small window of opportunity from expiration to re-listing with these sellers.

(continued on the next page)

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Systematically Market to Your Database 8 by 8 (continued)

8 x 8: Follow-up for Prospective Sellers

Any seller who does not sign with the team after a Listing Consultation—or is a prospective seller (other than a FSBO or Expired listing) that is hesitant about even having a Listing Consultation—is placed on this plan. The plan reminds those sellers who wish to shop around why the team is ultimately going to be their best choice for selling their home.

8 x 8: Follow-up for Prospective Buyers

Launched after unsuccessful Buyer Consultations—or for a prospective buyers that are hesitant about even having a Buyer Consultation—this plan reminds those buyers who wish to shop around why the team is ultimately going to be their best choice in finding and purchasing their new home.

Setting up Your 8 by 8 Plans

When your Mega modifies an 8 by 8 plan for the team, it will be your job to create the new plan in the database. To create a plan:

Set reminders

You will need to set reminders for each activity, such that when an activity from the 8 by 8 for a particular contact comes due, your CMS tells you that it is time to perform that task. Depending on the CMS you choose, you can do this in a variety of ways. The most common is, for each task, to set the number of days from the date of the plan launch that the task should be performed. For an 8 by 8, the first activity would take place on the day the plan is launched. Subsequent tasks would be performed at seven-day intervals.

NOTE: One exception to this is the 8 by 8: Expired/Withdrawn, which has eight activities that are completed within two weeks.

(continued on the next page)

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Systematically Market to Your Database 8 by 8 (continued)

Designate the team member

Multiple team members will share in the responsibility for executing an 8 by 8 plan. When you set up your plans in your CMS, you must designate which team member should be notified to perform each task. The CMS will notify the designated team member when a task they are assigned comes due. Make sure that team members are making dated notes about the completion and any related outcome of each task.

Set nine tasks, not eight

When setting up your plans, make sure that you set up nine tasks for each 8 by 8 plan. The first eight will be the eight tasks of the plan. The ninth activity will be a reminder to you to re-launch the contact on an appropriate 33 Touch plan.

Your 8 by 8 Tasks

You will be responsible for many of the marketing mailer pieces that are tasks generated by the 8 by 8. On a daily basis, your CMS will generate a list of task reminders that you must take care of for that day. Many of these will be marketing pieces that you must send out. When a contact is due for a mailer piece, you must gather the mailer, print the label for the contact and affix the proper postage. The mailer pieces should be sent out the same day that the task comes due in the CMS, unless your Mega specifies otherwise.

(continued on the next page)

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Systematically Market to Your Database 8 x 8 (continued)

8 x 8: General

On the following page is an example 8 by 8. While the tasks will be modified by your Mega Agent to fit the style of your team, the basic structure will remain. Every week, some task will be assigned to the appropriate team member. Not only should they complete the task, but they should also make a note in the notes section for the contact in your CMS that the task was completed and on what day. Some CMS’s will automatically note the completion of certain tasks (e.g., emails sent through the CMS to the contact). When you are completing your tasks, look back at the notes section to be sure that all of the previous tasks were completed and noted.

(continued on the next page)

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Systematically Market to Your Database 8 x 8 (continued)

Sample 8 x 8: General

Launch day

Drop off a letter of introduction, your personal brochure, a market report, and your business card.

Buyer or Listing

Specialist

7 days after launch

Send an inspirational card, community calendar, or market statistics. MAM

14 days after launch

Send an inspirational card, community calendar, or market statistics. MAM

21 days after launch

Make a telephone call:

“Hello, this is __________ from Keller Williams Realty. Did I catch you at a good time? How are you? Did you happen to receive the __________? Have you had a chance to look at it? The reason I’m calling is to find out who you know who might be buying or selling their home...”

Tele-marketer

28 days after launch

Send one of your free reports. MAM

35 days after launch

Send a real estate investment or house maintenance tip. MAM

42 days after launch

Send a refrigerator magnet, notepad, or other usable giveaway (not throwaway!) with your name, logo, and contact information on it.

MAM

49 days after launch

Make another telephone call:

“Hello, this is __________ from Keller Williams Realty. Did I catch you at a good time? How are you? Did you happen to receive the __________ that I sent you? That’s great. Did you have any questions? As you can tell, I really hope you will allow the __________ team to be your Realtors® for life. And also, let me just give you a quick reminder that if you happen know of anyone who might be buying or selling their home, could you please share their name with me or my name with them…”

Tele-marketer

56 days after launch

Re-launch contact on appropriate 33 Touch plan. MAM

Every single touch should have a quick

reminder and

instructions on how to give you referral

business.

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Systematically Market to Your Database

33 Touch

When a contact completes their real estate transactions with the team or finishes their 8 by 8 plan, you will place them on an appropriate 33 Touch plan. The 33 Touch plan is a systematic marketing and prospecting technique, which ensures year-round contact with all of the prospects, business contacts, and past clients in your contact database. It cements your relationship with the contacts in your database and sustains an ongoing communication.

Modified 33 Touch

Your Mega will customize your 33 Touch to fit their style. They may also create several different 33 Touch plans to focus on different target audiences:

33 Touch: General

This is a non-specific 33 Touch plan that is aimed at your sphere of influence and other contacts who have not yet done business with the team nor given any referrals. The plan is designed to help you maintain communication with the individual and sustain the relationship.

33 Touch: Client for Life

Launched when a client completes a transaction with the team, this plan is designed to remind the client of the high level of customer service that your clients receive when they work with you. You will offer them vendor discounts, send them newsletters, and add value to the relationship in other ways. The goal is to get them to not only do all of their future business with the team, but to get them to refer others, as well.

NOTE: If they are already on the 33 Touch: Advocate Appreciation plan, re-launch them on that plan after they complete the transaction.

(continued on the next page)

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Systematically Market to Your Database 33 Touch (continued)

33 Touch: Advocate Appreciation

Anyone who refers or is willing to refer business to your team will be placed on the Advocate Appreciation plan. The plan focuses on rewarding the act of referring by sending those individuals items of value (promotional items, etc.) in an effort to get them to repeat that act. The tasks in this plan are all executed in a more personalized manner (e.g., hand-written notes, calls from the Mega Agent instead of the Telemarketer, etc.).

NOTE: Those contacts who actually do send you referrals should be rewarded for their efforts separately from their 33 Touch plan. And they should be rewarded at every step of the referral’s real estate transaction (see “Lead Management: Track”).

Setting up Your 33 Touch Plans

When your Mega modifies a 33 Touch plan for the team, it will be your job to create the new plan in the database. To create the plan:

Set reminders

Your 33 Touch plans consist of 33 different contacts over the course of a year. You will need to set reminders for each activity, such that when an activity from the 33 Touch for a particular contact comes due, your CMS tells you that it is time to perform that task. Depending on the CMS you choose, you can do this in a variety of ways. The most common is, for each task, to set the number of days from the date of the plan launch that the task should be performed. The first activity would take place on the day the plan is launched. Subsequent tasks would be performed at set intervals.

The 33 Touch differs from the 8 by 8 in set up not just in the number of activities and length of time, but also in how you set up reminders for the activities in your database. Some of the 33 Touch tasks are birthdays and holidays, which are not dates you can easily set from the launch date. So you will need to first determine how many of the 33 touches your Mega wants to set aside for personal observances (birthdays and anniversaries) and holidays.

(continued on the next page)

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Systematically Market to Your Database 33 Touch (continued)

Use the contact’s information to set reminders about personal observances in your CMS. And on holidays, you will do scheduled mailings to your database based on groups (e.g., for Christmas, your sphere may get cards, while your Advocates get fruitcakes). Once those are set aside, you will create a database plan for the remaining touches and set reminders for them.

Designate the team member

Multiple team members will share in the responsibility for executing a 33 Touch plan. When you set up your plans in your CMS, you must designate which team member should be notified to perform each task. The CMS will notify the designated team member when a task they are assigned comes due. Make sure that team members are making dated notes about the completion and any related outcome of each task.

Set thirty-four tasks, not thirty-three

When setting up your plans, make sure that you set up thirty-four tasks for each 33 Touch plan. The first thirty-three will be the tasks of the plan. The thirty-fourth activity will be a reminder to you to re-launch the contact on an appropriate 33 Touch plan.

NOTE: Before re-launching a contact on a 33 Touch, make sure that the contact belongs in your database. Read the notes section for the contact. If they have not done business, referred business, or at least promised to refer or do business, bring the contact to the attention of your Mega Agent. The Mega may decide that the contact should be removed from the database.

Your 33 Touch Tasks

You will be responsible for many of the marketing mailer pieces that are tasks generated by the 33 Touch. On a daily basis, your CMS will generate a list of task reminders that you must take care of for that day. Many of these will be marketing pieces that you must send out. When a contact is due for a mailer piece, you must gather the mailer, print the label for the contact and affix the proper postage. The mailer pieces should be sent out the same day that the task comes due in the CMS, unless your Mega specifies otherwise.

(continued on the next page)

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Systematically Market to Your Database 33 Touch (continued)

33 Touch: General

Your Mega Agent will determine how many of your touches will be calendared as holidays and personal observances and how many and what types of tasks should be part of the actual automated plan. They will also set the interval at which you will be executing these touches. Below is a sample 33 Touch: General program.

14 A combination of fourteen mailings, letters, cards, e-mails, or drop-offs (which might include your business card) and may be one of the following: letter of introduction, your personal brochure, market reports, Just Sold/Just Listed cards, your personal newsletter, recipe cards, property alerts, real estate news or articles, community calendars, invitations, service directories, promotional items, etc.

8 Thank You or Thinking of You cards

3 Telephone calls

4 Personal Observance Cards (birthdays, anniversaries, mother’s day, father’s day, graduation, anniversary of their home purchase, etc.)

4 Holidays (Thanksgiving, Fourth of July, etc.)

33 Touches Total

Every single touch should have a quick reminder and instructions on how to give you referral business and identify the benefits of working with your team.

NOTE: In this example, there are 4 personal observance cards and 4 holiday cards. This leaves a total of 25 touches left to be calendared in your CMS. You would then schedule these 25 touches into a plan similar to the 8 by 8 plan.

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Systematically Market to Your Database 33 Touch (continued)

Below is what might be entered into your database for the example plan on the previous page.

Launch day Drop off a letter of introduction, your personal brochure, a market report, and your business card.

Buyer or Listing

Specialist

14 days after launch

Send newsletter. MAM

28 days after launch

Make a telephone call. Buyer or Listing

Specialist

42 days after launch

Send Just Sold card. MAM

Etc. Etc. Etc.

Etc. Etc. Etc.

320 days after launch

Send newsletter. MAM

334 days after launch

Make a telephone call. Buyer or Listing

Specialist

348 days after launch

Thinking of You card. Buyer or Listing

Specialist

362 days after launch

Send newsletter. MAM

365 days after launch

Re-launch contact on appropriate 33 Touch plan. MAM

Every single touch should have a quick

reminder and

instructions on how to give you referral

business.

(continued on the next page)

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Maintain Your Database Updating Your Database

You will be in charge of updating your database. This is an easy process if it is done as a continuous process rather than putting it off to “someday.” Every time a contact completes a transaction or finishes a plan, make sure:

Their contact information is updated

Every time a contact completes a transaction, their contact information should be updated in the CMS

Additionally, use your direct mail pieces each month to help keep your contact information up-to-date. By paying additional postage for return service, the post office will notify you of undeliverable mail and provide a forwarding address when available.

They are in the correct database group

If they have given any referrals, make sure that they are in the Allied Resource, Advocate, or Core Advocate groups, depending upon how many referrals they’ve given.

They are on the correct database plan

Check the notes to determine what a contact’s relevance to the team is. Based on whether they give a referral, do a transaction with the team, are a FSBO, etc., make sure that they are on the appropriate plan.

Their notes are current

Because so many different team members are communicating with a contact, keeping track of personal details is impossible if their notes are not kept current. The database should reflect notes for every time the team contacted them. If the notes for a contact are missing or not current, get with the team member who was responsible for the last touch on the plan to find out why the notes have not been updated.

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Maintain Your Database

Cleaning Your Database

Although team members should be held accountable to updating the database, inevitably, it will be necessary to do an annual “clean-up.” This is best done before a major mailing event (such as a calendar mail-out) to help cut down on unnecessary expenses.

1. Assign team members letters of the alphabet and coach them on what to look for.

“What do I do if…?” The contact… Label them

…has sparse notes that indicate a lack of response to the team’s marketing.

Follow-up

…has asked not to be emailed or phoned

Do not contact

…has asked to be taken off of the mailing list

Do not contact

…only has a few fields entered (e.g., name and phone number, but no address nor email)

Follow-up

2. Team members should bring a list of “Do not contacts” to the Mega Agent. Those contacts on the Follow Up List with phone numbers should be given to the Telemarketer, so they can call all of those individuals. You will email those who have listed only their email address.

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Maintain Your Database

Opting Out

From time to time, contacts will ask to be removed from your database. It is important that you and your team understand that such requests are to be taken very seriously. Not only is it a waste of your time, money, and effort to continue to contact those who do not wish to be contacted, but because of the new anti-SPAM and Do Not Call legislature, it is illegal to do so in many instances. Penalties can range from being kicked off of the Internet by your ISP (Internet Service Provider) to fines in excess of $11,000.

At anytime during a plan, if the contact asks to be removed from your database:

1. Any team member who receives such feedback from a contact should immediately notify you.

2. You should stop their plan immediately.

3. You should then bring the contact to the attention of your Mega Agent.

NOTE: While it might seem intuitive that such contacts should be deleted from the database, this is not always the best course of action. By keeping contacts who do not wish to be contacted labeled as such in your database, you can prevent someone on your team from accidentally adding the same individual after deletion and contacting them again, against their wishes.

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My Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.

2. Review the topics for this chapter.

3. Grade yourself on your mastery level of each topic (A - F). Be honest with yourself. At the end of this course, you will use this scorecard to evaluate your weak areas and develop an action plan for complete mastery of the subject matter.

Time: 5 minutes

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Aha! Scratch Out

Exercise

Directions:

1. Think about what you just learned that will help you to set up your marketing systems.

2. Get into groups of about four-five. Each group will share Aha!’s about the material just covered within the group and choose five of their best. The group will write their five Aha!’s on a piece of paper from the flipchart.

3. When all teams are finished, compare the papers. Duplicate Aha!’s are scratched out and the team with the most number of Aha!’s left wins.

4. If you hear or think of a great Aha!, use the worksheet below to put it into action.

Time: 15 minutes

1. The single most important “Aha!” for me:

2. How I will use this “Aha!”:

3. How I will benefit:

4. What I need to do to make this happen:

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Lead Management – Funnel Chapter 4

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MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 4: Lead Management –

Funnel

In this chapter, you will…

[1] Understand the elements of a F.A.S.T. lead management system.

[2] Enumerate the benefits of funneling leads through a single point of entry.

[3] Understand how to handle phone leads. [4] Understand how to handle Internet leads.

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F.A.S.T. Leads Funnel, Assign, Source, and Track Leads

sign calls

Funnel

Leads are funneled into a single point of entry for the team

Assign

Leads are assigned to the appropriate team members

Source

Leads are sourced in order to calculate the return on investment for various marketing and prospecting activities.

Track

Leads are tracked in order to ensure that customers are properly serviced and converted into clients.

emailsreferrals

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Funnel Leads Single Point of Entry

Funneling leads means channeling leads from all of your various lead generation sources through a single point of entry into the systems of your team—the Lead Coordinator. This not only avoids confusion and mishandling of leads, but it is the most effective way to then assign, source, and track your leads, as well. It is also the most effective method of lead management in terms of holding your team accountable for lead follow-up and conversion.

Benefits of funneling

Funneling leads through the Lead Coordinator allows the team to:

1. Determine which lead generation sources are bringing in the leads

2. Determine which lead generation sources are more likely to yield leads that convert to business

3. Track whether or not leads are being followed up on

4. Track conversion rates of Buyer and Listing Specialist

5. Reward referral sources

Unity in Marketing

One of the implications of funneling is that all of the team’s marketing must feature one email address, one website, and one phone number. The Lead Coordinator is in charge of all three of these and will act as the team’s funnel for all of the leads that come in. Some of the marketing items that will need to feature the same contact information are:

1. Signs

2. Sign riders

3. Flyers

(continued on the next page)

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Funnel Leads Single Point of Entry (continued)

4. Ads

5. Direct mail pieces

6. Promotional items

7. Business cards (for all team members)

8. Email signatures (for all team members)

9. Website(s)

10. _______________________________

11. _______________________________

12. _______________________________

Buyer and Listing

Specialists should

not market or

prospect to your

database using

their private email

addresses and

telephone

numbers.

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Funnel Leads

Logging Leads

The Daily Lead Log is your way of documenting new leads that come into the team, where they came from, and to whom they are assigned. Every new lead that calls into the team will be recorded on the Daily Lead Log. At the end of the day, the Lead Coordinator and Lead Buyer Specialist will turn in their Daily Lead Logs to the Marketing and Administrative Manager.

A sample Daily Lead Log is provided on pg. 5 of the Sample Forms Packet.

(continued on the next page)

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Phones Answering the Phones

Truth The phone in your office should never ring more than twice.

Customers don’t like to wait. That is why you must have systems in place that ensure the phone is always covered. Answering the

phone is the responsibility of everyone on the team.

Phone calls are the most important thing to the life of the team’s business and should be accorded that respect. Before they leave their desk for any reason—even if it’s just for a moment—you (or anyone else in charge of the phones at the time) must make sure that they have explicitly asked someone to cover the phones. And whoever they ask to cover the phones must make sure that they ask someone else to cover the phones should they need to step away from their desk—even if it’s just for a moment.

If any team member is the only person in the office, it is their responsibility to answer the phone. And no one should assume that someone else is going to answer it. Make sure everyone on the team knows that, if the phone is not answered by the second ring, they must pick it up.

Establish a chain of command

The simplest way to deal with the “Who answers the phone if...?” question is to establish a chain of command for answering the phone:

If ________________________ has to step away from their desk/are not in,

then ________________________ will answer; if they have to step away from their desk/are not in,

then ________________________ will answer; if they have to step away from their desk/are not in,

then ________________________ will answer; if they have to step away from their desk/are not in,

then ________________________ will answer; if they have to step away from their desk/are not in

(continued on the next page)

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Phones Answering the Phones (continued)

Who’s in, who’s out

The team should have a Sign In/Out sheet at the front of the office. When any team member enters or leaves the office, they should sign in or out, so the Lead Coordinator (or any other team member on phone duty) knows they’re not available to answer the phones.

First Impressions

The Lead Coordinator is usually the first person on the team to speak with a customer. However, everyone on the team should receive training on how to answer the phones. As the saying goes, “You only get one chance to make a first impression.” That’s why everyone on the team must be trained to go out of their way to make the customer feel welcome the moment they answer their call.

Before you even pick up the phone

Smile before you pick up the phone. It is almost impossible not to sound happy when you are speaking through a smile. And happiness is infectious. As an exercise sometime, try smiling and nodding your head while saying something to someone. After a while, they will begin smiling and nodding as they listen.

First words

The first words you speak are the customers first indication as to how they will be treated as a customer of the team. Greet the client with:

“It’s a great day at Keller Williams. Thank you for choosing the __________ team. This is _____________. How may I help you?”

(continued on the next page)

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Phones Answering the Phones (continued)

If the call is a personal call, transfer the individual to the appropriate team member.

If the call is a past or existing client, transfer them to the Listing Manager if they are sellers, to the appropriate Buyer Specialist if they are buyers, or to the Transaction Coordinator if their file is in the contract to close phase. The name of the assigned specialist will be in your CMS if the client does not remember.

If the call is a lead, you will ask them a series of questions to get their contact information and reason for calling:

“So that I know who to transfer you to, I need to get a little information from you…”

Name

To get the callers’ name, ask, “May I ask who’s calling?” or “May I let them know who’s calling?”

Property & Buyer/Seller

To determine if the call is a lead and what type of lead they are, ask, “Is this in regards to a particular property?”

You will be able to determine whether they are a buyer or seller simply by asking them if they are calling because they are interested in a team property. If the lead is a seller, make sure that you get the address and zip code of the property in question.

Lead Source

To determine the source of the lead, ask, “And how did you hear about the _________________ team?”

(continued on the next page)

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Phones Answering the Phones (continued)

Number & Email

To get their phone number and email address, ask, “OK, I’m going to transfer you. ___________ (their name), what is your number? Just in case we get disconnected, can I have ____________ (specialist) call you back? And your email address?”

Once you have obtained the necessary information, transfer customer calls to the responsible parties (see “Lead Management: Assign”) and record the name of the agent assigned to the lead on the Daily Lead Log.

Exercise

Completing the Daily Lead Log

Directions:

Watch as your instructor and a volunteer demonstrate the script above. Then find a partner and role-play—take turns, so you both have the opportunity to play the Lead Coordinator. Use the Daily Lead Log in the Sample Forms Packet as a guide to ask for the caller’s pertinent information.

Time: 10 minutes

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Phones

Voicemail

Voicemail System

Calls will come into the office after work hours and on the weekend. It is essential that someone gets back to these customers in a timely manner before they take their business elsewhere. If your team has a voicemail pager system, the Lead Coordinator must keep the voicemail pager with them at all times after work hours. Voicemails from buyers/sellers will activate the voicemail pager. These after hour voicemails should be checked and dealt with as soon as they are received.

Personal voicemails

Transfer personal voicemails to the appropriate parties.

Lead voicemails

If the voicemail is from a customer, get as much client information as you can and fill in the Daily Lead Log.

Transfer the customer voicemails to the responsible parties and record the agent assigned to lead (see “Lead Management: Assign”) on the Daily Lead Log. Follow up with the assigned agent to gather any necessary information for the Daily Lead Log not given in the original phone message.

(continued on the next page)

Past a certain time

of night, Lead

Coordinators will

not be expected to

answer voicemail

pages. Talk to

your Mega Agent

to determine an

appropriate cut-off

time.

The Lead

Coordinator should

have extra copies

of the Daily Lead

Log with them

after hours.

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Phones Voicemail (continued)

Setting Voicemail

The team’s voicemail should give the team’s days and hours of operation, website, email address, and emergency contact number. In cases of holidays, make sure that you also specify what days the office will be closed and reopened.

The team’s voicemail message should also ask the caller to leave all of the information needed to complete a Daily Lead Log entry.

Team members should change their voicemails every day. Their voicemail messages should inform clients of when they will be returning calls. For example:

“Hello, this is __________ with the ___________ team. Today is Thursday, September 12. I am away from my desk at the moment. I will be returning calls between 11:00-1:00 and 2:00-3:00 today, so please leave me a message at the beep.”

By specifying a

time when they

will return calls,

your specialists

have set customer

expectations.

Phone calls should

be returned during

the time they

specify on their

voicemail.

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Internet Email Leads

Buyers often go online to search for houses, mortgage rates, and information about buying homes. And sellers often want to find information about selling their homes, relocation, and what their home is worth. Provided your team website gives consumers what they want, it will generate many leads.

If your team website has lead capturing technology, buyers and sellers can submit their information via an online form to get the information they are searching for. A typical lead capture form will ask for name, contact information, and questions specific to the type of information they are looking for (e.g., buyers would be asked questions about what type of home they are looking for). It will also allow the lead to type in any specific questions or comments. When the lead completes a form, an email with all of the lead’s information is sent to the team’s email address.

Team Email

Many customers choose to make inquiries through email, because it allows them some measure of anonymity. However, they still expect a quick response from the team. And you should treat these as you would any other lead. Check the team’s email account as soon as you get to the office and at least once an hour for the balance of the day.

Handling email leads

When you get a lead by email, fill out the Daily Lead Log just as you would any other lead. If the lead lists their phone number, be sure to record them. If they do not give a number, record their email address.

Pass the lead on to the responsible party (see “Lead Management: Assign”) and record the name of the agent assigned to the lead on the Daily Lead Log. Follow up with the assigned agent after they have spoken with the lead to gather any necessary information for the Daily Lead Log not given in the original email.

(continued on the next page)

Personal and past

client emails sent

to the team email

should be

forwarded to the

appropriate team

member.

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Internet Email Leads (continued)

Auto-responders

Team members should set auto-responders for their email and the Lead Coordinator should set the auto-responder for the main team email address. Auto-responses should inform the client of when team members will be responding to emails. For example:

“Thank you for writing the ________ team. The appropriate team member has been notified of your email and will respond within one hour. If you need immediate assistance, please call (555) 555-5555.”

By specifying a

time when you will

respond to emails,

you have set

customer

expectations.

Emails should be

responded to

during the time

you specify in your

auto-responder.

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My Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.

2. Review the topics for this chapter.

3. Grade yourself on your mastery level of each topic (A - F). Be honest with yourself. At the end of this course, you will use this scorecard to evaluate your weak areas and develop an action plan for complete mastery of the subject matter.

Time: 5 minutes

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KW Team Feud

Exercise

Directions:

1. The class will be divided into two equal groups. Each side will choose a representative for the initial question of a new category. The representative from each side will then join the instructor at the front of the room for the question.

2. The first representative to provide a correct answer to the question wins the opportunity for their team to guess the other possible answers to the question. The team must give all possible answers without answering incorrectly. After an incorrect answer, the question goes to the opposing team. If they provide the remaining correct answers, they win. However, if they give an incorrect answer, the first team wins.

3. This is a closed book exercise.

Time: 20 minutes

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MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 5: Lead Management –

Assign

In this chapter, you will…

[1] Understand how buyer leads are assigned. [2] Understand how seller leads are assigned.

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Assign Leads Overview

After leads have been entered in the Daily Lead Log, they must be assigned properly. The process of assigning leads differs depending on whether the lead is a buyer or seller:

Buyer Leads Seller Leads

Buyer leads go to the Buyer Specialist on floor-time. The assigned Buyer Specialist will conduct the Buyer Interview and set

up a buyer consultation appointment.

Seller leads go to the Listing Manager. The Listing Manager will conduct the Seller Interview and set up a listing

appointment. The Listing Manager will then assign leads to the Listing Specialists based on the geographic location of the

lead.

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Buyer Leads Floor-time

After you have completed the Daily Lead Log you will transfer the lead to the Buyer Specialist who has floor-time at the time of the call or email. Each day phone duty is divided into several shifts of floor-time. The Lead Buyer Specialist will determine the floor-time schedule, create a floor-time calendar for the month, and bring it to the Marketing and Administrative Manager for approval.

Creating the Calendar

The calendar for the upcoming month should be created and distributed to the Buyer Specialists at least one week before the month begins. Your team will need to divide days into shifts according to the number of Buyer Specialists you have on your team. Weekdays can be divided up into three equal shifts. Saturdays and Sundays should be divided into two shifts each day.

Add up the total number of hours of floor-time for each Buyer Specialist for the month to make sure that each Buyer Specialist gets their fair share of floor-time. Also, make sure that each Buyer Specialist is getting shifts at various times of the day. Any changes in the shifts must be signed off on by the Lead Buyer Specialist and changed on the calendar.

NOTE: If a new Buyer Specialist joins the team, the Floor-time Calendar should be changed to add the new Buyer Specialist. However, allow sufficient time for the new Buyer Specialist to train floor-time with the Lead Buyer Specialist before they are given any floor-time of their own.

(continued on the next page)

You may decide to

divide up the day

into more shifts

than this, but this

will limit the

number of leads

that come in per

shift.

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Buyer Leads Floor-time (continued)

Referencing the Calendar

Look at the sample Floor-time Calendar provided on pg.6 of the Sample Forms Packet.

When a buyer calls in, check the Floor-time Calendar to see which Buyer Specialist has floor-time at the time of the call. Voicemails and Internet buyer leads go to the Buyer Specialist on floor-time at the time the lead left or sent the message.

If the agent on floor-time does not answer their phone or is busy, the lead should be routed to another available Buyer Specialist based on who’s next on the floor-time schedule. If the next Buyer Specialist on the floor-time Calendar is not available, then the lead goes to the next Buyer Specialist on the Floor-time Calendar.

(continued on the next page)

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Buyer Leads Floor-time (continued)

After-Hours Leads

As mentioned earlier, the Lead Coordinator will be expected to listen to and assign voicemail leads up to a certain cut-off time. This time will be established by your Mega Agent.

Before the voicemail pager cut-off time, the Lead Coordinator should be assigning the lead and forwarding the voicemail message immediately. These leads should be forwarded to the Buyer Specialist with the first floor-time shift the next morning. This specialist gets the lead, because if they are not able to reach the lead that evening, they will need to follow up the next day. Since they are on floor-time first, they will most likely be the first in the office the next day, so they will not keep the lead waiting.

Leads that come in past the cut-off time will most likely not be checked by the Lead Coordinator until the next morning. In this case, the lead should again be forwarded to the Buyer Specialist with the first floor-time shift that morning.

(continued on the next page)

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Buyer Leads Floor-time (continued)

IVR Leads

Interactive Voice Response (IVR) systems are telephone systems that allow you to record detailed voice descriptions about all of your listings that potential customers can listen to at any time.

The system assigns each listing a unique identifying phone number that you then place on all of your marketing materials for the listings (sign riders, flyers, websites, etc.). When customers call to listen to the information about the property, their phone number is captured by the system and sent to the team via a pager. The system not only identifies the phone number of the lead, but it also tells you what property they originally called about and what source they obtained the IVR phone number from (e.g., newspaper, yard sign, etc.).

Your Buyer Specialists can then call the lead immediately after their inquiry and use the IVR Calls scripts (see the MREA: Scripts Catalog – Lead Generation) to convert the lead into a buyer consultation. Buyer Specialists will fill out a Daily Lead Log for all IVR calls they take during their floor-time. They will use the Talking Ad List to determine the property that the lead was calling the system for information on. At the end of their shifts, Buyer Specialists will turn their Daily Lead Log sheets in to the Lead Buyer Specialist, who turns them in to the Lead Coordinator.

With some IVR systems, the lead is prompted to press a phone button at anytime during the recording to speak with a live person. These calls should be routed to the Lead Coordinator. In such cases, the Lead Coordinator should treat it as any other lead, fill out the Daily Lead Log themselves, and assign the lead to a Buyer Specialist.

Floor-time on the go

The beauty of the IVR system from a lead management perspective is that the system automatically assigns the lead to the Buyer Specialist with floor-time. This is because the Buyer Specialist with floor-time will take possession of the IVR pager when they begin their floor-time shift. Some systems allow the team to purchase multiple pagers, so Buyer Specialists don’t even have to physically hand off a pager. With this type of system, a Buyer Specialist coming onto floor-time simply calls the system and activates their pager, which also deactivates any other Buyer Specialist’s pager. This technology, in tandem with a phone system that allows the Lead Coordinator to transfer buyer calls directly to a Buyer Specialist’s mobile phone, gives your Buyer Specialist the freedom to conduct their floor-time duties while out in the field, if necessary.

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Seller Leads Geographic Area

Seller leads are assigned to a Listing Specialist by the Listing Manager, not the Lead Coordinator. When the Listing Manager receives the lead, he or she will go through the Seller Interview (see MREA: Operations Manual) with the lead. Once they have all of the necessary information from the seller, the Listing Manager will schedule a listing consultation for a Listing Specialist.

Typically, the Listing Manager will assign the lead to a Listing Specialist based on the geographic location of the listing. In this style of assignment, Listing Specialists specialize in certain neighborhoods, zip codes, or parts of town (e.g., northwest, southeast, etc.). This allows Listing Specialists to become thoroughly familiar with their local markets.

(continued on the next page)

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Seller Leads Geographic Area (continued)

Anomalies

There may be instances in which a seller wants to meet at a time when the appropriate Listing Specialist is already booked on their calendar. In such cases, if the seller cannot reschedule, then the lead should go to the Listing Specialist whose territory is geographically nearest to the listing.

Also, leads may come in from zip codes that are not currently assigned to team Listing Specialists. If this occurs, the lead should be given to the Listing Specialist whose territory is closest to the lead.

Listing Territories

The Listing Manager will be in charge of maintaining the Listing Territories list that assigns zip codes to Listing Specialists. Territories should be assigned such that an even distribution of seller leads is achieved. If any Listing Specialists begin to get a disproportionate amount of leads or a new Listing Specialist is hired on, the Listing Manager may need to reassign territories. Territory assignments must be approved by the Mega Agent for your team.

A sample Listing Territories list is provided on pg. 7 of the Sample Forms Packet.

Make sure that

you follow up with

the Listing

Manager before

you finalize the

Daily Lead Log to

make certain who

has been assigned

the lead.

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Lead Assignment Other Methods

Exercise

What are other ways of assigning leads to Buyer and Listing Specialists?

Directions:

Use the space below to document everyone’s responses as your instructor leads this brainstorm.

Time: 15 minutes

Floor-time for Listing Specialists

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Lead Assignment

Who Gets the Lead?

Exercise

Assigning the lead to the correct specialist

Directions:

1. Look at the sample Daily Lead Log, Floor-time Calendar, and Listing Territories list in your Sample Forms Packet.

2. Use the Floor-time Calendar and the Listing Territories list to fill in the blanks on the Daily Lead Log and assign each of the leads to a team specialist.

Time: 15 minutes

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My Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.

2. Review the topics for this chapter.

3. Grade yourself on your mastery level of each topic (A - F). Be honest with yourself. At the end of this course, you will use this scorecard to evaluate your weak areas and develop an action plan for complete mastery of the subject matter.

Time: 5 minutes

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MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 6: Lead Management –

Source

In this chapter, you will…

[1] Document your team’s various lead sources. [2] Document referring contacts and agents, so

they can be properly compensated. [3] Analyze your cost per lead for each of your

lead generation sources.

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Source Leads Where Leads Come From

At the millionaire-level, your team will be lead generating through a variety of methods. Without the ability to determine which of those methods are bringing in leads—and how many leads each method is yielding—your lead generation activities would be the equivalent of playing darts blindfolded. Not only will you not know your score, but you won’t even know if you have hit the board at all.

Sources

Determining which sources are worth the team’s resources and which sources are not bringing in the necessary leads to justify their cost begins with knowing what your lead generation sources are.

You will deal with leads from a variety of sources:

1. Past client referral

2. Agent referral

3. Advocate, Core Advocate, or Allied Resource referral

4. Sign calls

5. IVR calls

6. Website

7. Magazine ad calls

8. Newspaper ad calls

9. ________________________________________

10. ________________________________________

11. ________________________________________

(continued on the next page)

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Source Leads Where Leads Come From (continued)

Determining a Lead’s Source

Knowing the source of a lead is so important that you should have a system of checks to make sure that the source is recorded accurately. When a lead comes in the Lead Coordinator and Buyer and Listing Specialists will each determine the source of the lead and record it in the Daily Lead Log and the CMS, respectively.

Check

The Lead Buyer Specialist and Listing Manager will turn in copies of all Buyer/Seller Interviews conducted that day. On the Interview forms, under “Referral Source” check to make sure that the referral source recorded is the same as recorded on the Daily Lead Log under “Lead Source.”

Double-check

At the end of everyday you will check to make sure that all leads have been inputted properly into the CMS by the assigned specialist. You will cross-check the Daily Lead Log sheet to the CMS to ensure that the source is correct before they give you the Daily Lead Logs for the team for the day. If the lead source listed in the CMS is different from that of the Daily Lead Log, you will need to follow up with the Buyer Specialist or Listing Manager to determine the cause of the discrepancy. Make sure to correct the Daily Lead Log source if it is incorrect, as you will use this to input data into the Lead Source Spreadsheet.

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Source Leads

Sourcing Your Team’s Leads

Lead Source Spreadsheet

It is also necessary to compile the list of lead sources for each month in a Lead Source Spreadsheet for marketing accountability. When the sources for all leads are known, it is easier to calculate the cost effectiveness of any particular marketing method’s ability to generate leads. Because your team’s lead generation activities are aimed chiefly at bringing in seller listing leads, you will track buyer leads and listing leads separately to determine which lead generation activities tend to bring in more seller leads.

At the beginning of every week, you will take all of the Daily Lead Logs for the previous week and tabulate the leads on the Lead Source Spreadsheet. When you are finished, file away the Daily Lead Logs.

Your Lead Source Spreadsheet should contain:

1. The total number of leads for each source for a given month

2. The total number of leads for each source for the year

3. The percentage of total leads for a each source for the year

4. Lead source categories (with a legend of ease of reading)

Two sample Lead Source Spreadsheets for buyers and sellers are provided on pgs. 8 and 9 of the Sample Forms Packet.

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Referrals Rewarding Referrals

Referral Reward Form

In addition to placing those contacts who refer business to the team on the 33 Touch: Advocate Appreciation plan, you will reward them during the transaction process with their referrals. When the Buyer Specialist or Listing Manager completes the Buyer/Seller Interview, they will complete a Referral Reward Form if the lead source is an individual (as opposed to a sign call). If the referring individual is not a contact in the team’s database, the Buyer Specialist or Listing Manager must ask the lead for the individual’s contact information, so the team can properly reward them. When you receive a Referral Reward Form, make sure that you enter the information into the Referral Reward Tracking Spreadsheet.

NOTE: Those referring business who are not part of the team’s database should also be entered into the CMS and launched on the 33 Touch: Advocate Appreciation plan.

A sample Referral Reward Form is provided on pg. 10 of the Sample Forms Packet.

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Referrals

Referring Agents

Referral Information

In addition to rewarding them as you would any referring contact, referring agents are also entitled to a referral fee should their referral complete a transaction with the team.

NOTE: As part of your team’s referring agents’ rewards program, you’ll want to send the referring agent a hand-written Thank you note. And be sure that every agent who sends you a referral is properly marked as an Advocate in your CMS to ensure that some form of regular contact (e.g., email, phone call, etc.) is made specifically to those individuals in your database. You may even want to further designate them as “Referring Agent” to be even more specific in your marketing messages to that group. They should then be launched on the appropriate plan.

In order to ensure that these agents are compensated at closing, the Buyer Specialist or Listing Manager who completes the Buyer Interview or Seller Interview for an agent referral will circle “Yes” next to “Referral” and record the referring agent’s name next to “Referral source.”

Additionally, the Buyer Specialist or Listing Manager will complete a Referral Information form and turn it in to you. When you receive Buyer/Seller Interview forms with “Yes” circled next to “Referral,” check to make sure that you also have a Referral Information form for that agent.

The referring agent may send the team a Referral Information form before you actually speak with their referral. In such instances, make sure that their information has been properly filled out—if not, you will need to complete your team’s information on the form and fax it back to them to get their information.

When they have faxed the form back to you with all of their information, you will place it in the Buyer Folder or Seller Folder.

A sample Referral Information form is provided on pg. 11 of the Sample Forms Packet.

When completing

the Disbursement

Authorization, be

sure the Transaction

Coordinator includes

the referral fee and

referring agent’s

information.

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Analysis of Lead Sources Red Light, Green Light

Cost per Lead

Every quarter, you will calculate the cost effectiveness of your team’s lead generation efforts and submit a report to you Mega. You should calendar this quarterly event in your CMS.

In “Marketing the Team: Methods,” you saw how to track your marketing costs for Advertisements, Direct Mail, Gifts and Promotional Items, and Sponsorships using various spreadsheets. These spreadsheets are vital to being able to track your team’s cost per lead. Once you have determined the cost of any given lead generation method, you can then determine the cost per lead generated from that source by tracking where your leads are coming from.

(continued on the next page)

It may be difficult

to determine the

effectiveness of

your marketing

efforts in just a

few months.

Some forms of

marketing can

take six months to

a year to show

results.

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Analysis of Lead Sources Red Light, Green Light (continued)

Exercise

What is the cost effectives of this team’s lead generation methods?

Directions:

Take a look at the Team Advertising Publications spreadsheets and the Lead Source Spreadsheet for both buyers and sellers in your Sample Forms Packet. Using the given data, calculate the cost per lead for various sources to answer the questions on the following page.

Time: 15 minutes

Example: What was the cost per lead for advertising the team in Homefinder in the month of July? (The information has been circled in the spreadsheets below)?

(continued on the next page)

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Analysis of Lead Sources Red Light, Green Light (continued)

Example answer:

$125 for ad / 2 leads (1 buyer & 1 seller) = $62.50 per lead

1. What was the cost per lead for advertising the team on the Internet for the month of June? Be sure to add in all pay-per-clicks and SEO. (Assume 25 clicks per search phrase.)

2. What was the cost per lead for advertising the team in Prestige Properties for July?

3. What was the cost per lead for advertising the team on benches for July?

Take a look at the sample Mailer Spreadsheet in your Sample Forms Packet.

4. What was the cost per lead for sending direct mail pieces to Sphere for June and July? Be sure to add in personal referrals which come from your marketing efforts to your sphere.

5. What was the cost per lead for sending direct mail pieces to Past Customers for June and July? Be sure to add in past customer referrals which come from your marketing efforts to your past customers.

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My Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.

2. Review the topics for this chapter.

3. Grade yourself on your mastery level of each topic (A - F). Be honest with yourself. At the end of this course, you will use this scorecard to evaluate your weak areas and develop an action plan for complete mastery of the subject matter.

Time: 5 minutes

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Lead Management – Track Chapter 7

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MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 7: Lead Management –

Track

In this chapter, you will…

[1] Understand how lead tracking reveals the effectiveness of your teams lead management systems.

[2] Implement lead follow-up systems to make sure leads are properly handled.

[3] Track referrals through the various steps of the real estate transaction to properly reward referring contacts and agents.

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Track Leads How Effective Are Your Systems?

Tracking a lead begins the moment the lead hits your system. You will track leads as they enter the team, are sourced, and are assigned to various team members. Tracking your leads will allow you to:

1. Determine the effectiveness of your team at converting the leads into appointments*

2. Determine the effectiveness of your team at converting appointments into signed clients*

3. Determine the effectiveness of your team at converting signed clients into sales*

4. Determine which lead sources are more likely to yield solid leads that will generate sales**

5. Reward referring contacts and agents at every step of the transaction process**

*These are key training and consulting points for the Buyer Specialists, Listing Manager, and Listing Specialists. If the ball is being dropped, you must know where and by whom so that they can be trained and consulted properly. **These will help you and your Mega Agent determine where your lead generation efforts and money are best spent. You will be following up with the Listing Manager and Buyer and Listing Specialists to ensure that leads are properly followed up on and converted.

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Lead Follow-up Listing Leads

Once a seller listing lead has been handed to the Listing Manager, you will need to track its progress to make sure that everything is done to convert the lead properly.

Seller Interview follow-up

When the Listing Manager gives you a copy of the Seller Interview that they performed for a lead, check to see that they have scheduled a listing consultation. The time of the appointment will be in the “Date” and “Time” blanks at the bottom of the page. If there is no appointment scheduled, check the CMS notes field to see why the Listing Manager was unable to schedule the consultation.

Once a listing consultation has been arranged, the Listing Manager will record the appointment on the Listing Appointment Spreadsheet. The appointment should also be scheduled in the CMS for the assigned Listing Specialist. You should double-check both of these to ensure that the assigned Listing Specialist does not overlook the appointment.

Listing Consultation follow-up

After the listing consultation, the Listing Specialist should give a copy of the Listing Agreement to the Listing Manager. The Listing Manager should then place the listing on the Current Listings Whiteboard in the office.

If the Listing Specialist fails to get a signed Listing Agreement, check the CMS notes to determine the problem, and make sure that Listing Specialist has launched the seller on the 8 by 8: Follow-up for Prospective Sellers plan.

If you do not use a

Current Listings

Whiteboard, you

should be using a

spreadsheet to

track the listing

information.

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Lead Follow-up Buyer Leads

Once a buyer lead has been assigned to a Buyer Specialist, the Buyer Specialist will perform a Buyer Interview and give the completed form to the Lead Buyer Specialist.

Buyer Interview follow-up

When you receive a completed Buyer Interview from the Lead Buyer Specialist, check to see that the Buyer Specialist assigned to the lead has scheduled a buyer consultation. The time of the appointment will be in the “Date” and “Time” fields at the bottom of the page. If there is no appointment scheduled, check the CMS notes field to see why the Buyer Specialist was unable to schedule the consultation.

Once a buyer consultation has been arranged, the Buyer Specialist will record the appointment in the Buyers Log. The appointment should also be scheduled in the CMS for the assigned Buyer Specialist. Double-check both of these to ensure that the Buyer Specialist does not overlook the appointment.

If a Buyer Specialist fails to follow up on a buyer lead within 24 hours or fails to get the appointment, the lead will be placed in the Buyers Pool. Any Buyer Specialist with the floor-time can retrieve the previous day’s Buyers Log sheet and call all Buyers in the pool.

Buyer Consultation follow-up

After the buyer consultation, the Buyer Specialist should give a copy of the Buyer Agreement to the Lead Buyer Specialist. The Lead Buyer Specialist will then place the buyer on the Current Buyers Spreadsheet.

If the Buyer Specialist fails to get a signed Buyer Representation Agreement, check the CMS notes to determine the problem, and make sure that the Buyer Specialist has launched the seller on the 8 by 8: Follow-up for Prospective Buyers plan.

If space in your

office will permit,

you may choose to

use a Current

Buyers

Whiteboard

instead of a

spreadsheet to

track the signed

buyer information.

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Referral Rewarding Tracking Rewarding for Referrals

The Message

Rewarding for a referral sends a message to your client. And depending on how and when you reward for referrals that message could be good or bad.

The wrong message

Many agents reward for referrals, but they wait until after the transaction is complete to do so. By this time, months may have passed and the referring contact may have had plenty more opportunities to refer business to the team. Also, rewarding in this fashion sends the wrong message to the referring contact. It says, “We appreciate the fact that you sent us a referral, because we actually made money off of it.”

The right message

However, the act of referral is the behavior you want them to repeat—regardless of the outcome of the referral. And rewarding for referrals as soon as you receive them helps ensure that the referring contact will continue to refer business to your team at every opportunity. The message you want to communicate is, “Thank you for trusting us enough to refer your friends and family; we hope you will continue to do so. Here is something to remind you just how well we treat our clients.”

(continued on the next page)

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Referral Rewarding Tracking Rewarding for Referrals (continued)

Every Step of the Way

The best way to make sure that your contacts are receiving this message loud and clear is to repeat it often. That is why you will repeat the message by rewarding them at every step of the real estate transaction:

1. The Interview

2. The Appointment

3. The Contract

4. The Closing

Because different team members will be responsible for these various stages of the transaction process, you must have systems in place to properly track the referral throughout the transaction.

The Interview

At the end of every week, check the Referral Reward Tracking Spreadsheet against the Daily Lead Log. For every referral on the Daily Lead Log, you should have received a Referral Reward Form. Make sure that all referrals listed in the Daily Lead Log are also in the Referral Reward Tracking Spreadsheet. For any new referrals, send them a referral gift. Record the gift under “Referral Gift” on the Referral Reward Tracking Spreadsheet.

A sample Referral Reward Tracking Spreadsheet is provided on pg. 12 of the Sample Forms Packet.

The Appointment

Check older referrals on the Referral Reward Tracking Spreadsheet against the Current Buyers Spreadsheet and Current Listings Spreadsheet. When referrals sign a Buyer Representation Agreement or a Listing Agreement, send the referring contact an appointment gift. Record the gift under “Appointment Gift” on the Referral Reward Tracking Spreadsheet.

A sample Current Listings Spreadsheet and Current Buyers Spreadsheet are provided on pgs. 13 and 14 of the Sample Forms Packet.

(continued on the next page)

It is not necessary

for the referral to

have agreed to a

consultation. You

will reward the

referring contact

simply for the act

of referring

business.

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Referral Rewarding Tracking Rewarding for Referrals (continued)

The Contract

Check older referrals on the Referral Reward Tracking Spreadsheet against Contracts Pending Spreadsheet to see if any referrals have gone under contract. When referrals go under contract, send the referring contact a contract gift. Record the gift under “Contract Gift” on the Referral Reward Tracking Spreadsheet.

A sample Contracts Pending Spreadsheet is provided on pg. 15 of the Sample Forms Packet.

The Closing

You will also check older referrals on the Referral Reward Tracking Spreadsheet against the Contracts Pending Spreadsheet to see if any referrals have closed. When referrals close, they will be in bold at the top of the spreadsheet. For any closing that was a referral, send the referring contact a closing gift. Record the gift under “Closing Gift” on the Referral Reward Tracking Spreadsheet.

Exercise

Who needs to be rewarded?

Directions:

In your Sample Forms Packet, reference the Referral Reward Tracking Spreadsheet against the Daily Lead Log, Current Listing Spreadsheet and the Current Buyers Spreadsheet, and the Contracts Pending Spreadsheet to answer the questions on the following page.

Time: 15 minutes

(continued on the next page)

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Referral Rewarding Tracking Rewarding for Referrals (continued)

The Interview

1. Who has recently referred business to the team that should be added to the Referral Reward Tracking Spreadsheet? (HINT: Look at the Daily Lead Log to see which new client was referred by someone.)

2. What will their gift be? (HINT: Look at the Referral Reward Tracking Spreadsheet to see what others who received as an initial Referral Gift.)

The Appointment

3. Who referred a lead that recently completed a consultation and signed with the team? (HINT: Check the Current Listings and Current Buyers Spreadsheets to see who has been added. Cross-reference that person on the Referral Reward Tracking Spreadsheet to find who referred them that has not yet received an Appointment Gift)

4. What will their gift be?

The Contract

5. Who referred a lead that has recently gone under contract? (HINT: Check the Contracts Pending Spreadsheet to determine who has been added to it. Cross-reference that person on the Referral Reward Tracking Spreadsheet to find who referred them that has not yet received a Contract Gift.)

6. What will their gift be?

The Closing

7. Who referred a lead that closed on June 15?

8. What will their gift be?

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My Scorecard

Exercise

Directions:

We have reached the end of this chapter! Before we move on, take five minutes to assess your mastery of this chapter's objectives.

1. Refer to the My Scorecard sheet located at the back of this manual.

2. Review the topics for this chapter.

3. Grade yourself on your mastery level of each topic (A - F). Be honest with yourself. At the end of this course, you will use this scorecard to evaluate your weak areas and develop an action plan for complete mastery of the subject matter.

Time: 5 minutes

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Aha! Accountability

Exercise

Directions:

Think about what you just learned that will help you to manage the leads for your team. Get with a partner. Each of you will take turns acting as an Aha! consultant. Use the following questions to consult your partner about their Aha!.

Document your own responses.

Time: 10 minutes

1. What was your Aha!?

2. What is the need in your business that makes this such a revelation?

3. How will this change your business?

4. What do you need to do?

5. Do you know how to do it?

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Putting It All Together Chapter 8

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP V3.2 © 2004 KELLER WILLIAMS REALTY, INC. 128

MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Chapter 8: Putting It All

Together

In this chapter, you will…

[1] Summarize what you have learned. [2] Create an Action Plan.

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What Have You Learned? MREA Admin: Lead Tracking and Follow-Up Outline

Chapter Topics 1. The Role of

the Lead Coordinator

a. Job Description b. Goal Categories

2. Marketing the Team –Methods

a. Understand your role in getting the team’s marketing message out. b. Advertise the team through various publications, the Internet, and signage. c. Market the team through direct mail to your various target audiences. d. Market the team through gifts for referrals and promotional items. e. Sponsor local charities and organizations to build relationships in your farm. f. Set up systems to maintain the elements of your marketing.

3. Marketing the Team – Strategies

a. Learn about contact management b. Discover how to set up your database c. Learn how to feed your database. d. Learn how to systematically market to your database. e. Discover how to properly.

4. Lead Management – Funnel

a. Understand the elements of a F.A.S.T. lead management system. b. Enumerate the benefits of funneling leads through a single point of entry. c. Understand how to handle phone calls leads. d. Understand how to handle Internet leads.

5. Lead Management – Assign

a. Understand how buyer leads are assigned. b. Understand how seller leads are assigned.

6. Lead Management – Source

a. Document your team’s various lead sources. b. Document referring contacts and agents, so they can be properly compensated. c. Analyze your cost per lead for each of your lead generation sources.

7. Lead Management – Track

a. Understand how lead tracking reveals the effectiveness of your team’s lead management systems.

b. Implement lead follow-up systems to make sure leads are properly handled. c. Track referrals through the various steps of the real estate transaction to properly

reward referring contacts and agents. 8. Putting It All

Together a. Summarize what you have learned in this course. b. Create an Action Plan

You are here.

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Putting It All Together Chapter 8

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My Action Plan

Exercise

Directions:

We have now reached the end of this course! Before we conclude, take 15 minutes to develop your action plan for complete mastery of this subject matter.

1. Refer to the My Action Plan sheet located at the back of this manual.

2. Choose a peer partner and exchange contact information.

3. Use your My Scorecard sheet to review your weak topic areas.

4. In the “Big Rocks” column of My Action Plan, list the major areas in which you need improvement.

5. In the “Action Plan” column, list three to four specific tasks that you will complete to bring yourself up to a mastery level.

6. Under the “Accountability Date,” record the date your partner will call to check on your status.

Time: 15 minutes

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MREA ADMIN: LEAD TRACKING AND FOLLOW-UP

Appendix

Topics…

[1] Path to the 7th Level [2] Job Task List for the Lead Coordinator

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Path to the 7 th Level

Appears on page 201 of The Millionaire Real Estate Agent

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Job Task List Lead Coordinator (level 7)

FNCTNS TASKS

P = Priority Tasks X = Extra Tasks

Goal Setting, Planning & Leadership Review Annual/Monthly/Weekly Goals (4-1-1) P

Maintain Planned Use of Time P

Lead Generation, Advertising, & Promotion Contact Management (client database) P

Lead Tracking and Coordination P

Maintain a File of Testimonials P

Seller Prospecting & Servicing Lead Follow-up P

Transaction & Closing Coordination Obtain Testimonials & Referrals P

Administration & Accounting Schedule Events & Meetings X

Maintain All Databases X

Research & Communications Check Voice Mail P

Return Calls P

Send and Receive Faxes P

Send and Receive E-Mail P

Provide 800# P

Maintain Real Estate License P

Schedule and Attend Training P

Answer Phones X

Take and Deliver Messages X