What is YOUR Zero to CAP Strategy?

By
Real Estate Broker/Owner with Pareto Realty TN #251071

My primary goal as a Career Development Coach for REALTORS (and Organizational Development Consultant) is to help each client DECLARE his/her definition of "CAP" . . . and to build a strategy to reach that CAP as quickly as possible. What I know is essential is an integrated strategy which INTENTIONALLY considers the Spiritual, Mental, Social, Emotional, Physical, and Business Well being of the "performer" . . . We  simply cannot reach our goals unless they are well defined AND we are "FIT" for the challenge . . .

In the Keller Williams Realty world, the word "Cap" signifies the total amount of money that each associate must "split" to the company each year (Including royalties to the International office). This number varies slightly for each market center because all  of them are independently owned and operated.  In our Market Center, the number is $20,000 for a newly licensed agent . . . Why is this pertinent?  In terms of annual production, we know that for a newly licensed agent to reach the cap (after which he she begins receiving 100% of every commission for the balance of the year) the volume of sales for the year will need to exceed $2,500,000.

Here are some thoughts to build strategy.

- The goal must be "Time Bound" - "I want to Cap in my first year" means that you've gotta sell ONE $200,000 every month . . . Wanna cap in 6 months? Sell TWO houses each month - or six $400,000 houses . . . Then enjoy the 100% commissions for the balance of the year :-)

I know - This is easier said than done . . . BUT . . . increase your odds of success by following the  below.

- TIME BLOCK your days!

- Practice the MREA energy plan EVERY day (see my post a few days ago for details) - Wake up early, begin with Spiritual energy with meditation/prayer or simple silent thought . . . then FOCUS plan and calendar the day . . . Then EXERCISE even if it is just a 20-30 minute walk about the neighborhood . . .  Then Hug Laugh and kiss your family and eat a healthy breakfast . . . Then LEAD GENERATE for 3 hours. Do ALL of this EVERY day.

- Develop your "Elevator Speech" . . . I've been on this band-wagon for a long time in my office and stumbled upon this article this morning (From the www.lowesrealtorbenefits.com daily email) http://rismedia.com/wp/2008-07-16/get-to-the-point-how-to-capture-prospects-in-under-a-minute/

- You've GOTTA be able to articulate in LESS THAN A MINUTE - WHO you are - WHAT you bring to the table - and the UNIQUE BENEFIT each of your clients reaps by choosing YOU to serve them.

- PLUG in to your office . . . Hang  out there and talk to the active agents.

- On your way to the office each day, think of ONE QUESTION you will ask EVERYONE you see. Stay with that question all day and take good notes of responses . . . and then TAKE ACTION - Implement whatever wisdom you glean from this - IMMEDIATELY!

- Seek out 3 "Peer Partners" and get them to commit to meet with you (as a group) EVERY week for accountability - These are great people to work through your elevator speech with.

- DON'T FORGET WHO YOU WERE BEFORE YOU DECIDED TO BE A REALTOR! Honor your past and know that it is the foundation for your future. Gather knowledge and contacts from WAY BACK. You will find more leverage than you can possibly imagine to build a healthy business.

- NO WHINING! Every Time you catch yourself whining, you've gotta do "5 push-ups" (In my world that means you've gotta make contact with 5 more people before the end of the day - Our goal is 15 contacts EVERY day . . . Whine once, and you're up to 20 - Twice/25 etc)

- AFFIRM to yourself EVERY minute of EVERY day that you CAN do this. Doesn't matter to me that you just flew into town last week with only the clothes on your back not knowing a SINGLE person in town . . . Just get out there and be yourself and make contact with lots of people, and you'll be OK :-)

- Don't let yourself get mired in the details. BUILD YOUR DATABASE . . . We'll get to the details later :-)

- Don't be afraid of success. If you slip up and catch a client on your first day, set an appointment in your office and invite a seasoned agent (or your coach or Broker) to the meeting. There's no learning more valuable than "hands-on, real-life" training.

- LISTEN TO YOUR COACH . . . Don't even think about tweaking the guidance he/she gives you . . . JUST DO IT!

- BE HONEST! Don't fool yourself into thinking that you are working hard/smart if you are not . . . TRACK WHAT YOU ARE DOING and report honest numbers to your coach and accountability partners. You will only stretch yourself when you come from authenticity.

- Have a clear vision of WHY you want to succeed. Who will you "let-down" (disappoint) if you do not reach your goals? Create a "Vision Board" or scrap book with pictures of your success (Family, images of your "dream life", Things you desire) . . . Place this visual reminder PROMINENTLY in your office where you see it often.

ZERO TO CAP is NOT difficult. As with any effort worth doing, it requires a measure of discipline and personal accountability and commitment. Self integrity is the key. Don't let yourself off the hook because there is no-one out there who is going to do this for you.

I could write all day, but the clock says it's time to Hug, Kiss, Laugh and Play for a while . . . Time to wake up the kids and have some family time.

Are YOU gonna CAP this year?

Best,

b

Barry Owen

Career and Organizational Development coach/consultant

Principal Broker

Keller Williams Realty - Nashville, TN - Green Hills

Our "Flagship" Market Center is ALWAYS seeking great talent . . .

www.theowengroup.net - The Owen Group is a highly specialized team of residential REALTORS poised and ready to SERVE clients in Middle TN.

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Posted by

Barry Owen

Founder
Principal Broker
Pareto Realty
Nashville, TN

615.502.2080
www.paretorealty.co  
Call me: 615-568-2123
email me: barryo@comcast.net

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Rainmaker
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Mike Saunders
Lanier Partners - Athens, GA

Barry - very good points, I only disagree with one. Listen to your coach. Often the coaching comes from their own background and style of doing business which may not fit with your profile. Make sure that your coach understands your profile and what strategies were successful for him/her may not be successful for you. It might require a change in coaches.

I will implement some of your suggestions that are not already in my plan. Thanks for posting.

Jul 17, 2008 01:01 AM #1
Rainmaker
231,071
Richard Byron Smith, NMLS #184479
Mortgage Loan Officer, Fairway Independent Mortgage Corporation NMLS #2289 - Chattanooga, TN
Mortgage Loan Officer

Barry,

I always enjoy reading your posts. Always something new to consider. Thanks BTW for the referal to the KW training site. I really like it.

Richard

Jul 17, 2008 05:03 AM #2
Rainmaker
918,178
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Barry - good job. I think all of these work very well.

Jul 17, 2008 08:21 AM #3
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