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Market Center Operations. Do It the Right Way. Sherry Lewis. Sherry Lewis. Tulsa, OK Regional Director, Oklahoma Region Operating Principal, Multiple Market Centers. Please complete an evaluation form found in the back of your program guide .

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market center operations

Market Center Operations

Do It the Right Way

Sherry Lewis

sherry lewis
Sherry Lewis

Tulsa, OK

Regional Director, Oklahoma Region

Operating Principal, Multiple Market Centers

Market Center Operations – Do It the Right Way

please complete an evaluation form found in the back of your program guide
Please complete an evaluation formfound in the back of your program guide.

Market Center Operations – Do It the Right Way

the ten steps to operating a profitable market center
The Ten Steps to Operating a Profitable Market Center
  • Productivity Specific Environment Systems
  • Staffing Systems
  • Recruiting and Retention Systems
  • Education Systems
  • Coaching, Accountability, and Consulting Systems
  • ALC Systems
  • Communication Systems
  • Technology Systems
  • Financial and Profit Sharing Systems
  • Culture Systems

Market Center Operations – Do It the Right Way

the keller williams mvvbp
The Keller Williams MVVBP

Mission

To build careers worth having, businesses worth owning, and lives worth living.

Vision

To be the real estate company of choice.

Market Center Operations – Do It the Right Way

the keller williams mvvbp1
The Keller Williams MVVBP

Values

  • God, family, then business.
  • We believe real estate is a local service business driven by individual real estate agents and their local image with their centers of influence and client base.
  • We believe our associates should be treated like “stakeholders.”
  • We believe stakeholder companies always measure profit or loss, open the books, and tell the truth.
  • We believe who you are in business with really does matter.
  • We believe profit matters.
  • We believe no transaction is worth our reputation.

Market Center Operations – Do It the Right Way

the keller williams mvvbp2
The Keller Williams MVVBP

Beliefs (Rules)

W – Win-Win — Or no deal

I – Integrity — Do the right thing

C – Customers — Always come first

C – Commitment — In all things

C – Communication — Seek first to understand

C – Creativity — Ideas before results

T – Teamwork — Together everyone achieves more

T – Trust — Begins with honesty

S – Success — Results through people

Market Center Operations – Do It the Right Way

the keller williams mvvbp3
The Keller Williams MVVBP

Perspective

A training and consulting company that also provides the franchise systems, products, and services that lead to productivity and profitability.

Keller Williams thinks like a top producer, acts like a trainer-consultant, and focuses all its activities on service, productivity, and profitability.

Market Center Operations – Do It the Right Way

1 productivity specific environment systems
1. Productivity Specific Environment Systems

The Key Areas of the Productivity Specific Environment

  • Entry/Reception Area
  • Client Presentation Rooms (Conference Rooms)
  • Training Room
  • Technology Center
  • Team Leader’s Office
  • MCA’s Office
  • Town Square/Café/Break Area
  • Associate Work Areas
  • Unique Area Ideas (Lead Generation/Power Hour Area, Lion’s Den, Stand-up Library, etc.)
  • Power Walk Stations and the KW Experience

Market Center Operations – Do It the Right Way

1 productivity specific environment systems1
1. Productivity Specific Environment Systems

The KW Experience

Market Center Operations – Do It the Right Way

1 productivity specific environment systems2
1. Productivity Specific Environment Systems

The Six Personal Perspectives

Market Center Operations – Do It the Right Way

1 productivity specific environment systems3
1. Productivity Specific Environment Systems

The Power Walk

  • Make the recruit feel welcome.
  • Be energetic … but be relaxed.
  • Train your people.

Market Center Operations – Do It the Right Way

1 productivity specific environment systems4
1. Productivity Specific Environment Systems

Power Walk Stations

  • Welcome Board and Training Calendar
  • Portraits of ALC Members
  • Anniversary Board
  • Financial Bulletin Board
  • ALC Bulletin Board
  • Listing and Sales Boards
  • Oversized Profit Share Check

Close the Opportunity

Market Center Operations – Do It the Right Way

2 staffing systems
2. Staffing Systems

The KW Organizational Structure

Market Center Operations – Do It the Right Way

2 staffing systems1
2. Staffing Systems

Self-funded Positions

  • Technology Support
  • Productivity Coach
  • Agent Services Coordinator
  • Closing Coordinator

Market Center Operations – Do It the Right Way

2 staffing systems2
2. Staffing Systems

Staff Appreciation

  • Semi-annual Celebrations
  • Pocket Praise
  • Birthday Cards
  • Anniversary with the Company
  • Handwritten Notes
  • Life Events

Market Center Operations – Do It the Right Way

2 staffing systems3
2. Staffing Systems

Create Teamwork

Rock and Role

Rock – Make sure everyone understands precisely what the key goals for the Market Center are. These are your “Big Rocks.”

Role – Make sure each team member understands exactly how their job contributes to helping achieve the Market Center’s goals (Big Rocks).

Market Center Operations – Do It the Right Way

3 recruiting and retention systems
3. Recruiting and Retention Systems

The Ten Recruiting Sources

  • KW Associates Profit Share Training
  • Calling to Targeted Database
  • Books
  • Educational Events
  • Networking and Allied Resources
  • Real Estate Schools
  • Career Opportunity Events
  • Social Network Marketing
  • Direct Mail and Email
  • Recruiting Advertisements

Market Center Operations – Do It the Right Way

3 recruiting and retention systems1
3. Recruiting and Retention Systems

Needs Analysis

How do you uncover what a recruit needs?

  • Ask great questions.
  • Listen to the answers.

Market Center Operations – Do It the Right Way

3 recruiting and retention systems2
3. Recruiting and Retention Systems

KW’s Value Proposition – Fill Your Toolbox

  • Education and Training
  • Culture
  • Coaching
  • Consulting
  • Events
  • The History of Keller Williams Realty
  • The Business Model
  • Technology
  • Compensation
  • Industry Specializations
  • Profit Share and Growth Share
  • Health and Wellness Program
  • Growth
  • Accomplishments
  • Your Market Center

Closing the Invitation

Market Center Operations – Do It the Right Way

3 recruiting and retention systems3
3. Recruiting and Retention Systems

Retention Systems

  • Stay in Touch
  • One-on-One Consulting
  • Agent of Concern (AOC)
  • Recognition
  • Leadership by Walking Around
  • Support the Associates through Life Events
  • Handwritten Notes
  • Leverage eEdge

Market Center Operations – Do It the Right Way

3 recruiting and retention systems4
3. Recruiting and Retention Systems

Sample Exit Interview Questionnaire

Market Center Operations – Do It the Right Way

4 education systems
4. Education Systems

Keller Williams University Overview

  • Market Center Training
  • Leadership Training
  • Regional Training
  • KWU Training Support

Market Center Operations – Do It the Right Way

4 education systems1
4. Education Systems

Core Agent Curriculum

  • Ignite
  • Lead Generation 36:12:3

Market Center Operations – Do It the Right Way

4 education systems2
4. Education Systems

Core Agent Curriculum

  • Buyer Mastery
  • Seller Mastery

Market Center Operations – Do It the Right Way

4 education systems3
4. Education Systems

Market Center Training Calendar

Ten Steps to a World-Class Training CalendarAvailable in the Recruiting Great Agents Toolkit

Market Center Operations – Do It the Right Way

4 education systems4
4. Education Systems

Install World-Class Training in Your Market Center

  • Meet the Needs of Your Associates
  • First Analysis

May 2012

Market Center Operations – Do It the Right Way

5 coaching accountability and consulting systems
5. Coaching, Accountability, and Consulting Systems

Commit to Consulting

  • Time block.
  • Require a 4-1-1.
  • Three strikes and they’re out.

Market Center Operations – Do It the Right Way

5 coaching accountability and consulting systems1
5. Coaching, Accountability, and Consulting Systems

Accountability Model for Consulting

Market Center Operations – Do It the Right Way

6 alc systems
6. ALC Systems

Why Was the ALC Created?

  • For Team Leaders to hang out with their top people!
  • So top people could improve their leadership skills.
  • So top people could get their share of the “gift.”

Market Center Operations – Do It the Right Way

7 communication systems
7. Communication Systems

Communication Within the Market Center

  • Market Center Weekly
  • Monthly Newsletter
  • Blast Emails
  • Blast Voice Mails
  • Monthly Calendar
  • Market Center Intranet
  • Team Meeting

Market Center Operations – Do It the Right Way

7 communication systems1
7. Communication Systems

Team Meeting

  • Have a powerful reason for the meeting.
  • Take responsibility for attendance.
  • Start on time regardless of who is there.
  • Respect the team’s time.
  • Never schedule a speaker unless you have personally heard the speaker.
  • Follow the team meeting outline.
  • Publish the topics in advance.
  • Always be positive.
  • Prepare in advance and get there early.
  • Be real and interact.
  • Be attentive.

Market Center Operations – Do It the Right Way

8 technology systems
8. Technology Systems

Market Center Operations – Do It the Right Way

9 financial and profit sharing systems
9. Financial and Profit Sharing Systems

Market Center Operations – Do It the Right Way

9 financial and profit sharing systems1
9. Financial and Profit Sharing Systems

KW Economic Terms

  • Closed Sales Volume
  • Gross Commission Income (GCI)
  • Paid on Volume
  • Paid on GCI
  • Royalties
  • Company Dollar
  • KW Approved Costs
  • KW Profit
  • Loss Carry Forward
  • Three Levels of Profit Division
  • Managed Rate of Return
  • Profit Sharing
  • Owner Profit
  • Below the Line Expense
  • Pretax Owner Profit

Market Center Operations – Do It the Right Way

9 financial and profit sharing systems2
9. Financial and Profit Sharing Systems

KW Economic Fundamentals

  • Lead with revenue
  • Keep debt low
  • Keep overhead and fixed expenses low
  • KW Chart of Accounts
  • High volume/low margin
  • Competitive commission/Cap Co. $
  • Fixed expense budget/Few variances
  • Variances approved in advance

Market Center Operations – Do It the Right Way

9 financial and profit sharing systems3
9. Financial and Profit Sharing Systems

KW Economic Fundamentals (cont.)

  • Review Balance Sheet/Income Statement
  • Charge office/desk rent
  • Don’t carry agent receivables
  • Bill back for consumables
  • Class operation but no frills
  • Multi-use space
  • Separate Deposit and Operating Accounts
  • Cappers pay KW Approved Costs
  • Open the books

Market Center Operations – Do It the Right Way

9 financial and profit sharing systems4
9. Financial and Profit Sharing Systems

KW Economic Fundamentals (cont.)

  • Share the decisions
  • Share the profit
  • OP can’t be TL
  • Interdependent model
  • What you focus on improves
  • Feedback is the breakfast of champions
  • Profit is the goal, not the purpose
  • What correlates with profit matters

Market Center Operations – Do It the Right Way

9 financial and profit sharing systems5
9. Financial and Profit Sharing Systems

Profit Share Worksheet

Market Center Operations – Do It the Right Way

9 financial and profit sharing systems6
9. Financial and Profit Sharing Systems

Profit Share Worksheet

Market Center Operations – Do It the Right Way

10 culture systems
10. Culture Systems
  • Making decisions that are right for the Market Center regardless of individual impact
  • Taking a stand on an issue that is not popular, but is right
  • Being the best co-op associate possible; always respecting other associates
  • Helping someone in the Market Center willingly and with a smile, even though you are busy
  • Doing something right without wanting to be recognized or acknowledged for it
  • Paying a struggling associate’s fees anonymously
  • Complimenting others regularly

Market Center Operations – Do It the Right Way

10 culture systems1
10. Culture Systems
  • Being a part of the solution and not the problem in a Market Center
  • Taking the high road on confrontational issues or points of difference
  • Handling a fellow associate’s business when personal or family illness occurs
  • Paying a struggling associate’s tuition to a class that may impact the associate’s productivity
  • Living up to the covenant if you are on the ALC
  • Representing the Market Center and the company in a positive way—always
  • Smiling at others in the Market Center regularly

Market Center Operations – Do It the Right Way

10 culture systems2
10. Culture Systems
  • Staying home if you’re having a bad day attitudinally
  • Speaking without profanity
  • Avoiding disparaging remarks about anyone
  • Committing a random act of kindness every day
  • Honoring the policies and protocol of the Region regarding recruiting
  • Giving seven hugs a day
  • Not recruiting associates from another KW Market Center
  • Being willing to walk away from a transaction that compromises your principles
  • Being considerate of the staff

Market Center Operations – Do It the Right Way

10 culture systems3
10. Culture Systems
  • Paying your Market Center bills on time
  • Not looking for loopholes in Cap and Royalty payments
  • Responding to clients’ calls and concerns in a timely manner
  • Considering the other person’s viewpoint before reacting
  • Following the model
  • Being excited about saying, “Would you mind if my Team Leader called you?”
  • Implementing the Keller Williams productivity systems
  • Finally creating the budget you know you need for your business

Market Center Operations – Do It the Right Way

10 culture systems4
10. Culture Systems
  • Not only learning but living the WI4C2TS
  • Putting God and your family first, and the business second
  • Understanding that the higher purpose of business is to give, share, and care
  • Building your level-one Profit Share downline to 15, as soon as possible
  • Lead generating for three hours every day
  • Using a monthly Profit and Loss Statement to analyze your real estate business
  • Hitting your monthly and annual production goals
  • Profitability in your personal real estate business

Market Center Operations – Do It the Right Way

10 culture systems5
10. Culture Systems

What Is Culture?

It is an environment where all people are treated with regard and respect. In an environment like this, everybody thrives.

When everybody thrives, success shows up in the Market Center’s growth, productivity, and profitability.

Market Center Operations – Do It the Right Way

thank you
Thank You!

Please complete an evaluation form found in the back of your program guide.

To download a free copy of this presentation, GO TO:

www.familyreunion.kw.com/downloads