You can measure yourself as a manager or owner with one KPI, which means key performance indicators.

It's your per-agent productivity. Your per-agent productivity measures everything you do. It measures your recruiting, your retention, your training, your coaching, your mentoring, your marketing, your staff support. Everything you're delivering to your agents shows up in the pudding.

The proof is in the pudding. It's how well your agents are performing.

So, a question: Write this down. You should know your per-agent productivity as we sit here. If you don't, guess, but you should know it, right?

So what is your productivity when you measure it by volume and units?

If you're going to go back over the course of the last, let's say, 12 months, and if you know it, great. If you don't, I would challenge you to go back to your office and figure it out, because the higher you can push agent productivity, the happier your agents will be because they're making more money.

But you know som...

What we're going to talk about first is a company called Nucor Steel, a steel company, and a real estate conversation. Why? Well, this company was founded back in the 1940s, a big steel manufacturer. And they did very, very well for years and years and years.

And then in the 50s and 60s, they didn't do as well. Some market conditions changed in the 60s. They were going bankrupt until they brought this guy in: Kenneth Anderson Iverson. And he fundamentally changed the way the company operated. He rescued the company, and he's still studied today in management courses across the nation.

And so what did he do differently? He came into this steel company and told all the floor workers, "Guys, we're going to do something different. You're going to be one of the lowest-paid steelworkers in the nation now, starting right now."

How do you think that went over? Like a lead bomb, right?

And he said, "But we're also going to do something else. We're going to pay you per piece of product you p...

So brokerage owners, if I walked into your office today and I just put my hands out and I said, "How does it feel to be in your office?"

What would I feel?

Would I feel like it's an energetic place, that it's motivational, that I'm inspired by being there?

And even if you're running a cloud-based brokerage, this still applies to you, by the way.

When I talk to your agents, do they say, "Hey, working with this company makes me feel just energetic. I feel excited. I feel like I can tackle the market."

Or if I walk into your offices, does it feel quiet? Are there crickets? Is it like a morgue? Is it not exciting? It's just kind of... look.

What does it feel like?

So here's the real question behind the question:

Can you, as a brokerage owner-leader, influence how it feels in your company?

The answer is, of course, yes.

So how do we do it?

I'm going to give you what I call the Five-One Approach. I call this going big and going small every day.

So going big means we do one thing ...

As a real estate broker, one of the things that we often focus on is recruiting, as we should. Recruiting is the number one way that we can drive profitability to our business over the long haul.

Yet what happens with a lot of brokers is their measurement of their success is misguided.

Let me tell you what I mean by that:

Often we would obviously say that we're successful if we're recruiting X number of people into our company in a given period of time.

But I'm going to suggest to you that is a poor measurement system. And here's why:

Because you're measuring the bottom of the funnel, not the top of the funnel. And the top of the funnel is what creates results. Just like with our agents, when we teach them to lead generate, we have to teach them that they have to fill the top of the funnel.

In other words, they have to go out and lead generate every day to ever hope to generate a listing, a buyer, or a closed escrow.

The same thing is true for us as recruiters.

We have to be fi...

Hey guys, quick tip on your emails, especially ones that are trying to sell or promote something new.

A study was done that shows, and they studied 10 million emails, that when the email is less than 150 words, you get a 60% bump in the response rate, in the reply rate.

So short. Not long.

Sometimes we see these emails rolling.

You ever do this? You open an email and it's like 4 or 5 paragraphs. You're like, "Oh," and you just scan through it, right? You don't read the whole thing.

But what if it's 150 words, though? Of course you're gonna read it. It takes two seconds.

So make sure your emails are tight, concise, fast, easy to read, and your response and reply rate will go up dramatically.

By as much as 60%!

So guys, you want quick, snappy, easy ideas you're going to implement in your business, things that can really make a difference in your bottom line, then join the Path Performance Coaching and get your first month for only $1.

The Path contains hundreds of lead generatio...

Hey brokerage owners, I have a story for you:

Two branding experts walk into a store where you can buy collectibles, like a thrift store. We'll say that generously they buy $128 worth of just little trinkets, little doodads, this, that, and the other. About 100 items is what they buy.

So they walk out of the store with all this stuff, and they go, and they employ writers, professional writers, to write stories around each of these little items.

Now, they are fictional stories, not real stories, but then they take these stories that have been created around each of these little crazy items, and they post these stories with pictures of the items on eBay. They clearly state, "This is a fictional story."

What do you think happens with this?

A quick example is that they had a little figurine of a cat with a little tamale mustache. They paid $0.50 for it. They were able to sell that thing for $22.

But their whole haul of stuff that they spent $128 on, they sold for over $3,600 by creat...

Hey, brokerage owners and team leaders. I'm sure you've experienced this because I've experienced it a million times:

As a brokerage owner, later as you get a stream of agents coming into your office and they're always asking the same exact question. Like, "Oh, I got to ask you about this." And you're like, I've answered this like ten times this week. Drives you a little crazy, a little bananas.

But you go through and you do it again, and you think about that time suck of answering the same question over and over and over again.

Let me give you a solution for that.

And that is to create your own little mini university, right?

Your mini university just means you're going to create a recorded answer where you answer this frequently asked question, this FAQ question.

And now you push this out to your office and say, "Guys, I'm getting this question a lot. I just want to answer it en masse."

You put it on your Facebook closed group. Maybe if you had a YouTube channel, a private one,...

When I got into the real estate business, and I bet you're like me, when you walked into your real estate office in the beginning, there was a leaderboard. Some people call it a brag board in the office, right?

It had the listings and the sales. You'd write your name down when you took a listing and write your name down when you took a sale.

And we liked it, man. We're ego-driven people. As real estate agents, we all want to see our name on the board.

So when you open your company, some of you brokerage owners and team leaders might have done the same thing. You thought, "Well, I'm going to do the same thing. I'm going to have a big brag board, and I'm going to fire people up about getting on that brag board every month."

Is that a good idea, though?

Here's why it may backfire on you:

The reason it may backfire on you is, who are the same people that are going to be on that board every single month, month after month after month? They'll be your top producers.

And you might say,...

Here’s an amazing stat that Redfin just put out, and that is that 39% of listings coming on the market are selling — going pending — in the first two weeks. Isn’t that amazing?

But there’s always a tale of two markets out there.

So you’ve got 39% that are going pending, but what about everybody else? The other 60% of listings are not.

And those are starting to linger on the market — a lot of listings on the market over 30 days and 60 days.

So when we have these listings that linger, what do we do?

Well, when we’re having conversations with our sellers, of course the first step is we’ve got to get them realistic on price. But there’s another side of that conversation as well.

So we talk about price. We talk about incentives. Definitely we want to have those conversations.
40% of the market right now — people on the market — have included some price reduction or incentive already.

But we also need to do one other thing that a lot of agents miss, and that is when we’re doing our wee...

Brokers, owners, team leaders, office leaders, I’m going to give you a little tip for your next office meeting.

So sometimes we start office meetings… I’m going to give you one really good way to make these meetings come alive, and I’m going to give you a second good way to really make them come alive.

One is to have the “Genesis Conversation.” What is that?

Well, when you’re doing your “haves and wants,” people are talking about new listings, sales, closings, and so forth. I want you to follow that up and say, “Hey, tell me, where did that listing come from? What was the genesis point where the lead came from, in other words?”

And people say, “Well, it came from my sphere of influence,” or “It was an open house,” or “It was a sign call,” or “It was an internet lead.”

Great. And then you move on to the next person: where was the genesis point for you?

And everybody in the office is going to now really get tuned into where all the leads are flowing from.

80% of the time it’s gene...