• Lucas Howard Group

Our Notes from DC Masterminds

Mastermind Notes

Maryland, DC

  • Chris Suze

  • PG. 22 MREA

  • Build your business to expand home base - 8 people, 150 million

  • Launched expansion in 2014

  • Growth Division/ Op. Division/ Lead Gen Division

  • “Your Approach, Your Ability, and Your Willingness to do the work of Real Estate sales will be the greatest determining factors for your success” GK

  • GK

  • Expansion is the inevitable next evolution in Real Estate

  • Why should we care to expand - increase profit, expand the vision of your business, deepen our bench

  • 80/20 principle- what is our 20? What is MY 20?

  • Move from E to P - focus, strategic options, models, systems, accountability

  • Goals (championship) vs. Systems (playbook)

  1. Goals can reduce your current (happiness?)

Solution: commit to a process, not a goal

  1. Goals are strangely at odds with long term progress

Solution: release the need for immediate results

  1. Goals suggest that you can control things you have no control over

Solution: build feedback loops into our business, focus on the system not the goal

Build your world don’t ruin it!

Operations divisions-responsible for

  • Systems tools model’s roles accountability

A+ Op division

  1. Is led by Director of Operation trained in CV

  2. Creates clear division of labor and encourages specialization

  3. Is focused on cross training

  4. Reduces administrative costs through economies of scale

  5. Cuts administrative expenses as a % of revenue (look every week, how we can…) (PG157 MREA)

  6. Maintains communications systems

  7. Process transactions more quickly than non-expansion biz

  8. Maintain high level of customer focus

  9. Monitors new technologies and techniques to improve systems

  10. Save the expansion agent- Time each month

A+ Growth Division

  1. Is led by a strong expansion director

  2. Creates a standard operating procedure manuals for the team

  3. Determines potential expanding locations

  4. Works with market centers to find expansion partners

  5. Monitors a pre-launch checklist to ensure a new team is ready to launch

  6. Consults new expansion business with the business

  7. Maintains a common MVVBP and culture throughout business

  8. Requires all decision makers to be trained in Career Visioning

  9. Develops a deep bench in case as Expansion Partners leaves

  10. Saves the expansion agent time each month

  • What is “Loud Generation

  • Your database is your biz. The size of your R.E biz is in direct correlation to the size of your database.

  • What is a lever?- Seesaw example

  • Psyche: turn to his - why am I doing it?

  • Preparation: it’s my obligation to prepare so they can just jump over the lever

  • Process: does my L. Gen Activity have a specific process?

  • Promotion: systematic promotion of the lever

  • Performance: coach and train on performance

  • Post Activity: process

  • LeadGenLevers.com - build yours out

A+ Lead Gen Division

  1. Is led by a stronger director

  2. Launches core lead generations

  3. Differentiates between HUB

  4. Trains all businesses to use scripts

  5. Establishes standard for lead conversion ratios and measures them

  6. Matinans ownership of it

“Success should force your growth we are in a system biz, not a sales biz

Growth Division”

  1. Is led by a strong exp. Director

  2. Creates a standard operating procedures manual for the teams

  3. Determines potential exp. Locations

  4. Works with Market Centers to find exp. Partner

  5. Monitors a pre-launch checklist to ensure a new team is ready to launch

  6. Consult new expansion with the biz snapshot

  7. Maintains a common MVVBP and culture throughout teams Requires all’

  8. Requires all decision makers be trained in Career visioning

  9. Develops a deep bench in case an Expansion Partner leaves

  10. Saves the Expansion Agent

  • Evolutions of expansion: Jon Schiff (5 doors)/Luendo/Suarez Scaling Up Book - I have it

  • Move the model, grow the model, scale the model

  • Predictable success book

  • Culture is conversation - We run to conversations and communication on high level

  • Average assistant vs. Mega EA

  • Christ Belt Grossman

  • Should have a multiplier return of 3x through systems

  • Can generate referrals through sphere

  • “Bottom line thinking” - does P and L (or outsources it) and makes recommendations

  • Holds your marketing accountable to a return

  • Average assistance is an Empire Protector, Mega EA is an Empire Builder

  • Jake Drefuss

  • Now CEO & COO of Philly Living

  • 798 units, 210 million, 5-2 GLI, 4.5% market share

  • Performance, recognition, productions, and culture = balance ( these 4 conversations daily) ideas.kw.com

  • Bobby Moots

  • Future of KW Tech

  • Not playing for 2nd place - built by agents for agents

  • KW command - can post smart plans, sell or donate them too

  • Bobby.Moots@kw.com

  • Rental target leads/ property management/ buyers

  • Wendy Papason-Wealth Building

“wealthy is when your money works for you, instead of you working for money”

  • Highest rate of return: own business and R.E

  • Success is sequential, not simultaneous= time over task, over time

  • Your net worth= Assets – Liabilities

  • Track your net worth monthly

  • Make it a goal to be a net worth millionaire

  • Took Papason 8 years

  • Their original goal:

  1. 1 million net worth

  2. 10 properties

  3. $75K year in passive income

“People do not decide their futures, they decide their habits, and their habits decide their futures”

Wealth building habits

  1. Live in less than you make

  2. Fact: most people spend 50% of their income on housing and transportation

  3. Pay your investment fund first

  4. Focus on your networth, not income

  5. Take advantage of profit share

  6. Time on tasks over time

  7. Learn the rules of money

  8. Think big goals

  9. I have a goal to help make it 10 of my people 1 mil a year

  10. Bonus habit- surround yourself with amazing people , as no one succeeds alone

  • Would you like to pay for college 20 cents on the dollar?

  • Buy rental on 15 year 20% down- BOOM

  • Starbuck $100 a week-40 weeks 4k a yearish

  • 6 deals that year

  • Behind the scenes hour to mega agents does it

  • Sarah Reynolds, Grandy Coffey, Craig Wilburn

  • Trello: Idea bound- implementation board -build a fence around it, then move to the next one

  • Reynolds team “I owe you an apology video.”

  • We’ve been treating you all the same, and you’re not.

  • VIP Intro…

  • Beyond your mega agent biz

  • Noah Ostroff- 10 income streams

  • Bo Menkiti-16 income streams

  • Noah’s slide (on camera)

Vertical Integration!!!

  1. Philly living -R.E Team

  2. Philly Apartment Living Co.- Capture Renters, future buyers rental listing company

  3. Center City Development - builds 100 homes a year

  4. Own M.C. - own building

  5. Title company

  6. Mortgage Co.

  7. Insurance company

  8. Center city properties - build multi-family properties

  9. “ ” investment company (investment fund)

  10. Phield house - sport complex

  11. Profit share

  • Everything ties into each other

  • Always find someone to take it and lead it - willing to pay great or even over pay for talent

  • Did all this within 5 years

  • Bo menkiti

  1. Look at all sides

  • Be focused on buying property- do not let a year go by without buying property

  • Mike Brodie

  1. How to win in Real Estate and life

  2. Have your life’s objective

  3. Love what you do - people will run to you if they can tell you love what you do

  4. Choose your day - “today, you have a 100% of your life left”. So make it amazing

  5. Be an encourager - a work, a look, a touch can change a life, brighten a room when you enter NOT when you leave

  6. Surround yourself with those on the same mission as you

  7. “Don’t send ducks to eagle school” - J. Maxwell

  8. Four C’s: Character, competence, creativity, chemistry

  9. Be the trusted source - know the data!!

  10. Change is good

  11. The man on top of the mountain didn’t fall there “vince lambardi”

  12. BE the BEST you can be everyday and you’ll get the tap on the shoulder = opportunity

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