Potpourri
Keller Williams Mission Statement
What is "Careers Worth Having, Businesses Worth Owning, Lives Worth Living, Experiences Worth Giving, and Legacies Worth Leaving?"
The greatest thing your Economic Model will tell you.
What are the numbers you must hit?
Your database is divided into these two groups.
What are Mets & Not Mets?
A key concept is to lead with this.
What is Revenue?
Your first hire should always be this.
What is administrative help?
The "Gift of the Real Estate Gods" according to the MREA.
What are Listings?
Warren Buffett teaches us to master these before we add creativity.
What are Models?
This touch system is about cementing the relationship.
What is an 8 x 8?
The "Big Two" Operating Expenses.
What are Salaries and Lead Generation?
Of the "3Ls," the one that MOST applies to the Organizational Model.
What is Leverage?
Leverage comes in these 3 Ways.
What are 1) People, 2) Systems, and 3) Tools?
The costs of doing business, which includes marketing, rent, salaries, equipment and supplies (29.2%).
What are Operating Expenses?
This touch system is about saturation over time.
What is the 33 Touch system?
Holding your discretionary expenses accountable for a $1+ for $1 return is known as this.
What is "Playing Red Light, Green Light?"
The goal is to hire an Executive Assistant that becomes this.
What is an Assistant Executive?
The Five Stages of Growth on the Path to a Million.
What are Think a Million, Earn a Million, Net a Million, Receive a Million, and Give a Million?
The amount of profit your business earns.
What is Net Income?
This is the core group of your database, also known as your VIP's who will always refer business to you.
What are your Allied Resources?
A key concept is to stick to this!
What is The Budget
The three distinctive areas of staffing.
What are 1) Administrative, 2) Buyer specialists, and 3) Selling / Listing Specialists.
Named after the Italian Economist who discovered it, the 80/20 Principle is also known as this.
What is the Pareto Principle? (Vilfredo Pareto)
These two variables of the Economic Model can be improved by role playing and scripting.
What are Appointments and Conversion Rates?
The three basic tenants of the Lead generation Model.
What are 1) Prospect and market, 2) Set up a database, and 3) Systematically market to your database?
The 30-30-40 Rule is a broad view of your GCI. It refers to these three areas of your budget.
What are 1) Cost of Sales, 2) Operating Expenses, and 3) Net Income
Name Six (6) of the Nine (9) Major Compensation Options.
What are 1) Salary, 2) Commissions, 3) Expenses, 4) Bonuses, 5) Profit Sharing, 6) Retirement Plan, 7) Insurance benefits, 8) Vacation/Sick Time, and 9) Equity Opportunity