Top Takeaways from Mega Agent Camp 2022
Welcome to the more than 700 new Twenty Percenters who joined over the past week. Thanks to everyone who shared this newsletter with their real estate friends and referral partners!
“It’s not going to get easier. It’s going to get harder. So, make yourself a person that handles hard well.”– Kara Lawson
Last week, we hosted over 10,000 KW associates and guests at our mid-year conference, Mega Agent Camp. We packed it in. We hosted panels of top producers on everything from lead generation to wealth building. We did a deep dive on the market and economy. And we revisited SHIFT, highlighting the tactics most relevant for today.
For this week’s edition, I’m sharing ahas from the event from some of our top agents and coaches. But first, context.
The real estate market is shifting. We’re rapidly transitioning from an unprecedented seller’s market to a buyer’s market. We fully expect sales to drop by 20% or more. And we must adjust to avoid losing market share and income. We launched Mega Agent Camp with Duke basketball coach Kara Lawson’s inspiring speech “Handle Hard Better” quoted above. And Gary shared how bison turn into the storm and charge through to get it over faster. This shifting market won’t be easy, but Twenty Percenters know how to handle hard better. The market will force us to learn new skills and make difficult choices, but we’ll lean into it and emerge stronger. That’s what Twenty Percenters do.
I reached out to the four hosts of the Empire Building podcast, our COO, and several leaders from MAPS Coaching. Collectively, they have 100+ years of experience, lead real estate teams that generate over $270M in GCI, and have logged 10,000+ coaching hours. My own favorite takeaways are at the bottom. I attributed direct quotes where possible. Feel free to reply back and tell me if we missed your favorite aha.
Sarah Reynolds, Empire Building Co-host
- Your minimum standard IS your standard…OUCH.
- Turnover speaks to your commitment to doing it right! Don’t be afraid of turnover; if you are holding others accountable to your standards, some turnover will naturally occur.
- Every human has two main needs: to be fully loved and to be fully known!
- The most important things in your business should all be able to fit on one page with the system and framework easily spelled out.
Seychelle Van Poole, Empire Building Co-host
- “Everyone has a sticky note on their face that says, `Make me feel important.’” – Marie Hoffman
- “None of us are intimidated by the other’s success in this room. I want you to succeed just as much as I want to succeed.” – Gary Keller
- “Business is easy. People are hard.” – Daniel Dixon
Vija Williams, Empire Building Co-host
- Be certain in uncertainty. This means being purposeful with your KPIs, activities, and ROI tracking so you are working your strategy and pivoting your tactics as necessary.
- Everyone has their own personal economy that may or may not align with the macroeconomy. This means transactions will transact, we just have to figure out where to find them. It also means opportunities will be there for us to increase our wealth.
- Play offense, not defense. Find the deals of the market, study tactics, model what you learn, and execute. Train your team. Work the plan. Measure, rinse, pivot, repeat.
Wendy Papasan, Empire Building Co-host
- When I stopped marketing me and started marketing a program, I got more successful.
- Your business will fail if no one is accountable for results.
- Today is the only currency you have, so spend it wisely.
Sajag Patel, COO of Keller Williams Realty, Inc.
- The market doesn’t determine your success, it determines your strategy.
- Most “no’s” aren’t absolute. Listen for objections (which can be handled with education) and conditions (which can be solved with services.)
- You don’t go into a situation, you grow into a situation.
- Money will flow into your life and flow out of your life. The decisions you make around that determine your wealth.
- You can delegate the work, you can’t delegate the understanding.
Jen Davis, VP of MAPS Coaching
- You must be certain of three things: who you are, what you want, and what you are willing to do.
- Your CRM is NOT a place to store leads. It is a relationship tool. Relationships matter most. When we are intentional with our clients and team, that is when the magic happens.
- Lower your personal expenses first.
- A buyer’s market is a stager’s market.
Alicia Shepherd, MAPS Coach
- Intentionality is vital, so we make our own choices before someone else makes our choices for us.
- What do you intend to be intentional about? Be intentional about modeling the best in best practices.
Jordan Freed, MAPS Coach
- Do you know the handful of things you intend to be intentional about? We suffer from problems of abundance, not scarcity. Are you able to navigate the digital deluge of distraction and narrow your focus to just the handful that will have the greatest impact? If you ever find yourself lost you can always return to the 3 L’s – Leads, Listings, and Leverage. That model has never been disproven.
- What is the problem members of your database have but don’t know they have? Listening to Dan Ihara talk about his real estate planning strategy sessions was amazing. His clients have a problem and they don’t know they have it. The ability to identify an unknown problem people have and then to simultaneously install a solution is genius.
- Modeling is simply a purposeful game of copying and pasting the beliefs, habits, rituals, thoughts, and actions of the people who are already achieving what you want. Find the best first and then model them. Copy and paste their hacks into your life. You can shave off decades with this approach. Who should you be modeling?
Craig Zuber, MAPS Coach
- Who are you? When you really know who you are, you’ll know what you want. That will bring purpose to your life — and you’ll do what it takes to achieve it.
- Think big, start small. Knock it out of the park on a small scale first. If you start big vs small because you have ants in your pants, your business will most likely implode.
- There’s never been a better time to be in the real estate business; and don’t forget wealth building on the way to selling more houses.
- John Keller’s inspiring video on identifying our purpose —this is why KW exists!
- “Most people’s investment plan is like a junk drawer.” We need to have a goal, a model, and a plan. – Brett Tanner
- “Create a common enemy when working with clients.” For example, days on market is the enemy of a home’s value. – Sarah Reynolds
- “The most expensive line on your P&L is ego.” – Dan Holt
- “Win the morning, win the day.” – Jen Davis
- “In anxious times, productive activities lower anxiety.” – Jen Davis (Again!)
- “You have to take the small steps that make the big leaps possible.” – Brandon Green
- “Be intentional. There are a million ways to be broke. We have to be willing to give ourselves over to the narrowness of success.” – Gary Keller
- “I run my business on a legal pad, half an assistant, and a three-legged dog.” Okay, that was how “Amber from Birmingham” introduced herself in our mastermind. If we aren’t working with people who make us laugh, we need new people.
One question to ponder in your thinking time: How can I lower my expenses to stay ahead of any drop in revenue during the shifting market?
Make an impact!