Step by Step Guide to Building Your Profit Share Tree
Most successful agents have a business plan for how to grow their real estate business, but very few if any have developed a plan for growing their profit share tree. Much like real estate leads, profit share growth is a numbers game. If you rely solely on haphazardly referring agent leads to your leadership, your profit share growth will grow stagnant. It'll grow... but will do so painfully slow. A systematic approach to building your downline can work wonders, so where to start?
Remember, what you focus on expands. So if you add these prospecting ideas to your Profit Share Business plan, you'll see the results that you're looking for.
Hand out X number of recruiting business cards each day. What they look like or what they say might look something like these:
The next time you host an open house, collect business cards from the real estate agents that visit. This works particularly well during agent opens. And when is the last time you visited an open house not hosted by an agent in your office? Stop in, show you care, and ask how their business is going. Then, add them to your database and follow up.
Set Monthly and Annual Goals
Just like in your real estate business, it's hard to meet your goals if you never set them or have them in front of you at all times. Set an annual goal of agents to add to your downline, then divide that number by twelve to get your monthly goal. If you missed the goal, add those numbers to your next month and double down. Remember, you only have to focus on building it wide, then mentor and help those under you to build it deep.
Set a Weekly Goal
Set for yourself, a daily or weekly goal of how many agents you need to meet face to face or call. Invite an agent out for coffee once a week and talk about business. You would be amazed where those conversations lead. If you called one agent per business day, in a year you would have had 240 conversations. What kind of impact would that have on your profit share growth?
You're on one right now. The sole purpose of this website originally was to help our team build it's downline, and in doing so, provide a resource to agents in our downline to grow their own. Build a website, fill it full of helpful, informative information, and promote it far and wide just as you would with a new listing. Remember, your downline doesn't have to reside online in your area... through our website, we've added agents in Clemson, SC, San Antonio, TX, and Melbourne, FL. We're in Houston.
Social media makes reaching out to potential new agents and existing agents looking for a change a snap. Come from contribution, don't be pushy, be a resource, and offer to have a private conversation over coffee. No one ever changed brokerages because of a social media post. The conversation just started there. And now that Facebook has added the ability to add Job Postings, it's easier than ever to attract attention from those who have long just thought about getting into real estate.
Sponsor Lunch at Real Estate Schools
Real Estate Schools regularly encourage local brokerages to sponsor lunch for their students in exchange for some face time with their soon-to-be licensees. Hosting a lunch and learn at the local schools is an excellent opportunity to get in front of, and speak with a lot of agents at one time.
Visit Colleges that Teach Real Estate
If you've got contacts at universities that offer real estate instruction, make yourself available to instructors and students alike to offer 'real-world' experience. There's a big difference between classroom instruction and professional practice on the streets. And like real estate schools, you'll find yourself being exposed to a large number of student in one fell swoop.
Create Mastermind Groups
The best real estate agents associate themselves with the best agents, vendors, and coaches. That's why they're successful. The same is true for agents with large downlines. So when you're trying to build your profit share tree, who do you think is more likely to help you grow it? Create a mastermind group, contribute, share, and most of all listen. Listen specifically to those who are already recruiting at a high level.
Invites to Training Classes
The best way for agents at other brokerages to understand the depth of training at Keller Williams is for them to experience it first hand. When high value classes are being taught, or when you're then one teaching them, make a point to invite the recruits that you've been following up with. When they experience the training, the culture, and the camaraderie that Keller Williams agents enjoy, they'll naturally be more receptive to making the move.
Guest Pass Signature
Most Keller Williams offices host a 'career night' in their offices. At Premier, we host ours every first Tuesday of the month in our Fulshear Business Center, and everything third Tuesday at our Katy Market Center, and we call it Tuesday's Ticket to Success. Add a link to an invitation to your career night to your email signature; that way every time you send an email, you're potentially reaching someone who has thought about getting into real estate.
Build a Database
No matter where you meet potential recruits, you should always try to capture their contact information and add them to your database. Create a group for recruits, or tag them as 'recruit', then systematically follow up with them using some of the other steps we've outlined above. Just like real estate clients, most agents will need to be nurtured before they decide on their own to make a move.
Host Career Night
If your office allows it, offer to host the office's career night. By doing so, you master the materials needed to attract potential agents to the office. Often times recruits show up to these classes with their sponsor agents, but a lot of them don't. Those guests present your opportunity to build your downline.
Applicant and New Agent Lists
Many state associations make their new applicant and new agent lists available for download or purchase. You can use these lists to reach out to them and encourage them to come learn about Keller Williams. Keep in mind that these folks are NOT low hanging fruit - most of them have spoken with many brokers by the time they've gotten their license and a large majority of them have already hung their license somewhere.
Have you ever co-brokered a deal with an agent that you thought was fantastic to work with? Talk them up to THEIR clients at the closing table; explain how it was "such a pleasure" to work with consummate professionals like the one representing them. Then invite their agent out for coffee and a conversation. It works even better for agents where you felt like you had to do all the work because they weren't sure what to do. They NEED the training and coaching that your office can provide.
MREA Book Club
Create an MREA book club and invite agents who haven't been exposed to the book yet. They're a minimal investment to provide copies as a good will gesture. The book itself with create fans for you. Meet weekly to discuss a chapter or two at a time, then mastermind to share ideas. These types of discussions can open all sorts of doors.