During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer interviews a billion-dollar agent and million-dollar agent maker, Keri Shull. Keri’s team is on pace to do over 800 units worth over $500M in volume, and next year is projected to do over $1.2B!
Episode Highlights:
- Keri’s team is projected to do over $1.2B in volume in 2021.
- Entering the workforce out of Penn State in 2003, Keri chose real estate over being the Oscar-Meyer Weiner girl.
- Marketing was not a strong suit of Keri’s back in the beginning and she had to learn fast when she moved from Oregon to Arlington, a place where she knew no one.
- While Keri was able to close 19 contracts her first year, her husband Dan was able to do over $21M in his first year.
- Keri is aiming for 100% growth every year, even at the massive volume level that they move right now.
- Being a team leader allowed Keri to hold herself accountable for the environment that she created and the people that she surrounded herself with.
- Keri focused on who, not how, when building her team which led to massive growth.
- Realtors have trouble building teams and letting go of the day-to-day because they do not trust others enough to delegate those tasks.
- If you have trouble delegating tasks, put yourself in a room with people that have already done it successfully.
- Offering minimum wage to your team will bring in minimum wage talent.
- There is no one-size-fits-all method to grow a real estate business, so don’t listen to any coach that tells you so.
- Make a list of all your weekly tasks and circle the things that you aren’t good at or don’t like; create the job responsibilities off of those tasks.
- When you’re small, you’re forced to blend jobs together as opposed to hiring for one specific job.
- Comp plans being set up wrong from the beginning for the buyer’s agent or seller’s agent is one of the most common problems.
- In order to hit her goal of $1.2B, Keri needs to close 1,751 contracts.
- Use your average and history with 1st-year agent success, and hire based on those numbers.
- A large part of being successful hinges on answering the phone the first time that a prospect calls.
- Make sure to account for all the time it takes for your ISAs to both call new prospects and perform follow-ups.
- Keri is already hiring to reach her goals for next year, sitting at 60 agents now and looking to be at 75 by next year.
- Adjust your language to treat agents as partners or no one will take them seriously and they will never grow into what you need them to be.
- Keri has set up her lead agent to NET over $1M this year and that motivates people to join her team for the long-run.
- People are shocked to hear how large the marketing department is for Keri’s team.
- Recruiting and training are huge areas of emphasis to make sure their agents are problem-solvers instantly.
- Keri’s reality check approach trains agents to prepare clients for the market using real numbers.
- Many successful agents have a poor work-life balance.
3 Key Points:
- Everything changed for Keri when she attended a junk-email event and began to network with top performers.
- The reality of the market is this: you can either delegate tasks to partners or you can have no time outside of your job for your family.
- In the real estate industry, it’s safe to have a hiring plan with a projected 50/50 success rate.
Resources Mentioned:
- Lab Coat Agents (website), (Facebook), (Facebook Group), (Twitter), (Instagram)
- Keri Shull (Website Coaching Instagram)
- 5 Tips for Work-Life Balance (website)
- Followup Boss (sponsor)
- Chime (sponsor)