- 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)
Goals can reduce your current (happiness?)
Solution: commit to a process, not a goal
Goals are strangely at odds with long term progress
Solution: release the need for immediate results
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
Is led by Director of Operation trained in CV
Creates clear division of labor and encourages specialization
Is focused on cross training
Reduces administrative costs through economies of scale
Cuts administrative expenses as a % of revenue (look every week, how we can…) (PG157 MREA)
Maintains communications systems
Process transactions more quickly than non-expansion biz
Maintain high level of customer focus
Monitors new technologies and techniques to improve systems
Save the expansion agent- Time each month
A+ Growth Division
Is led by a strong expansion director
Creates a standard operating procedure manuals for the team
Determines potential expanding locations
Works with market centers to find expansion partners
Monitors a pre-launch checklist to ensure a new team is ready to launch
Consults new expansion business with the business
Maintains a common MVVBP and culture throughout business
Requires all decision makers to be trained in Career Visioning
Develops a deep bench in case as Expansion Partners leaves
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
Is led by a stronger director
Launches core lead generations
Differentiates between HUB
Trains all businesses to use scripts
Establishes standard for lead conversion ratios and measures them
Matinans ownership of it
“Success should force your growth we are in a system biz, not a sales biz
Growth Division”
Is led by a strong exp. Director
Creates a standard operating procedures manual for the teams
Determines potential exp. Locations
Works with Market Centers to find exp. Partner
Monitors a pre-launch checklist to ensure a new team is ready to launch
Consult new expansion with the biz snapshot
Maintains a common MVVBP and culture throughout teams Requires all’
Requires all decision makers be trained in Career visioning
Develops a deep bench in case an Expansion Partner leaves
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
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 million net worth
10 properties
$75K year in passive income
“People do not decide their futures, they decide their habits, and their habits decide their futures”
Wealth building habits
Live in less than you make
Fact: most people spend 50% of their income on housing and transportation
Pay your investment fund first
Focus on your networth, not income
Take advantage of profit share
Time on tasks over time
Learn the rules of money
Think big goals
I have a goal to help make it 10 of my people 1 mil a year
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!!!
Philly living -R.E Team
Philly Apartment Living Co.- Capture Renters, future buyers rental listing company
Center City Development - builds 100 homes a year
Own M.C. - own building
Title company
Mortgage Co.
Insurance company
Center city properties - build multi-family properties
“ ” investment company (investment fund)
Phield house - sport complex
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
Look at all sides
Be focused on buying property- do not let a year go by without buying property
Mike Brodie
How to win in Real Estate and life
Have your life’s objective
Love what you do - people will run to you if they can tell you love what you do
Choose your day - “today, you have a 100% of your life left”. So make it amazing
Be an encourager - a work, a look, a touch can change a life, brighten a room when you enter NOT when you leave
Surround yourself with those on the same mission as you
“Don’t send ducks to eagle school” - J. Maxwell
Four C’s: Character, competence, creativity, chemistry
Be the trusted source - know the data!!
Change is good
The man on top of the mountain didn’t fall there “vince lambardi”
BE the BEST you can be everyday and you’ll get the tap on the shoulder = opportunity
