Keller Williams Commercial

Keller Williams Commercial
4/15/2017 Implementation and Recruiting Buddy Norman President KW Commercial Version Copyright © 2009 Keller Williams Realty, Inc. Implementation and Recruiting 1

4/15/2017 KW Commercial Implementation and Recruiting

4/15/2017 KW Commercial Team Gloria Sivori Melissa Calles Implementation and Recruiting

4/15/2017 2009 Training Events—Leadership KW Commercial Regional Leadership Tour Team Leader Mastermind Webinars (1/month, start in May) New member orientation (1/week, start now) Implementation and Recruiting

4/15/2017 2009 Training Events— Agents International Training Webinars (2 per month, start in March) Commercial Mastermind Webinars (1 per month, starting in March) Market Center Training–Directors Regional Master Faculty Training (Starting Q2, 2010) Commercial Vendor Webinars Implementation and Recruiting 5

4/15/2017 Team Leader First Steps Get KWC business cards Go through new member orientation Read the Implementation Manual Order KWC marketing materials Speak with CLC or KWC leadership Team Leader Mastermind webinars Implementation and Recruiting

Team Leader Support to Commercial Agents
Keller Williams Commercial 4/15/2017 Team Leader Support to Commercial Agents Team Leader Team Building TL + OP + ALC = Commercial Team Building Business Strategy Support Team Leader Business Development C.A.P. Program : Cold Calling + Accountability = $ Production $ 7 Implementation and Recruiting 7

Commercial Real Estate C.A.P. Program
Keller Williams Commercial 4/15/2017 Commercial Real Estate C.A.P. Program $ Production $ Deficiency = Business Development Deficiency Not Skill Set Deficiency … 8 Implementation and Recruiting 8

Commercial Real Estate Production
Keller Williams Commercial 4/15/2017 Commercial Real Estate Production GRINDING MINDING FINDING $ R/E $ Commissions Opinion of Value Property Marketing Market Surveys Tours Property Analysis Lease Negotiations Purchase and Sale Financial Analysis Business Development Networking Cold Calls 9 Implementation and Recruiting 9

Commercial Real Estate Business Development
Keller Williams Commercial 4/15/2017 Commercial Real Estate Business Development Networking and Referrals ALC – Residential Agents, KW Leadership Competitor Firm Residential Agents (ex. Re/Max, Century 21, etc.) CRE Attorney CRE Architect CRE M.E.P.s (Mechanical, Electrical, Plumbing) CRE Moving Companies CRE Communications Firms CPAs CRE Bankers, Mortgage Brokers CRE Furniture Companies Cold Calling and Canvassing 10 Implementation and Recruiting 10

Commercial Real Estate Cold Calling
Keller Williams Commercial 4/15/2017 Commercial Real Estate Cold Calling Brief Introduction Hello, my name is Buddy Norman and I am with KW Commercial… Brief Hook We specialize in tenant representation… Preliminary Close to Get the Objection Out …and I am calling to see if you are available next Tuesday for a brief, 20-minute business consultation. 11 Implementation and Recruiting 11

Keller Williams Commercial 4/15/2017 Commercial Real Estate Cold Calling KEY – The Close Deflect the objection and reinforce/expand upon the reason you need to meet. Get the MEETING! I can appreciate that you are very busy right now, but that is exactly why I am calling. Our tenant representation services will save you enormous time and money, and allow you to focus on your core business. 12 Implementation and Recruiting 12

5. KEY – “Take Away” Close I promise the meeting will be valuable to you and your business, and that I will not call or contact you again unless you ask me to… Avoid the “Tar Baby” scenario.

6. KEY – “Soft” Close You are a commercial Icon in our market…. I have seen your signs all around our city, and I would greatly appreciate it if I could discuss with you on how to best structure a strong commercial real estate business. I promise to not try and recruit you and I will not call you again unless you ask me to…

Commercial Real Estate Cold Calling – KEY
Keller Williams Commercial 4/15/2017 Commercial Real Estate Cold Calling – KEY Objection and Deflecting Process This process will increase the effectiveness of cold calling by % vs. traditional cold calling … which translates into more MEETINGS! 15 Implementation and Recruiting 15

Deflecting Objections
Keller Williams Commercial 4/15/2017 Team Leader Cold Calling Lab Common Objections Deflecting Objections __________ __________ 16 Implementation and Recruiting 16

Commercial Division Ideal Structure
Keller Williams Commercial 4/15/2017 Commercial Division Ideal Structure Associate Multifamily Director Associate Commercial Leasing Director Associate Investments Sales Director Associate Land Brokerage Director 17 Implementation and Recruiting 17

Market Center E&O Commercial will not increase MC premium unless commercial exceeds 30-40% of total MC revenue Business brokerage will require an endorsement or separate policy depending on your carrier Commercial property management typically covered Have your policy reviewed by an insurance professional 18

Market Center E&O Henry Font Phone: 877-630-1107 Toll Free
Don Reilly Phone: 19

4/15/2017 Myths and Truths Myth Commercial agents bite. Implementation and Recruiting

4/15/2017 Myths and Truths Truth Don’t RECRUIT commercial agents… share business opportunities. Implementation and Recruiting

4/15/2017 Myths and Truths Myth The Team Leader needs to be a commercial expert. Implementation and Recruiting

4/15/2017 Myths and Truths Truth Team Leaders have 95% of the skill set to recruit. Implementation and Recruiting

4/15/2017 Myths and Truths Myth Commercial agents need an extensive commercial services platform… Implementation and Recruiting

4/15/2017 Myths and Truths Truth KWC has the commercial service platform REI Wise REIS Site To Do Business Catylist REA Implementation and Recruiting

Myths and Truths Myth Commercial agents make a lot of money on national account business. 26

Myths and Truths Truth Typical transaction $200K Commission
Less 25% Client Share -$50K Less 40% Natl. Acct. -$60K Gross Commission $90K 2 Agents split 50/50 $45K Each Agent Net Income 50/50 Company Split $22.5K Each 27

4/15/2017 Why Join KW Commercial? You will make more money! Aggressive commission splits Profit Share Team building opportunity Growing commercial agents – 700 offices 74,000 referral agents Industry-leading training Implementation and Recruiting

4/15/2017 Transforming the Industry KWC – Industry Disruptive Economic Model with Profit Share Implementation and Recruiting

4/15/2017 Transforming the Industry CBRE, C&W, Colliers: $125,000 Average Desk Cost = Agent must do $250,000 GCI for breakeven with 50/50 splits KWC – Full Cap at $80K GCI w/$24,000 Cap Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents Jones Lang LaSalle - JLL CB Richard Ellis - CBRE Colliers International Grubb & Ellis Cushman & Wakefield – C&W Coldwell Banker Sperry Van Ness Marcus & Millichap Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents Them KWC Closed books Agent is employee Open books Agent is partner Ivory Tower– Company-centric Agent-centric Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents Them KWC 45-55 Commission Splits No Cap 70-30 Commission Splits w/Cap Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents CBRE Annual 45/55 split: $200,000 GCI Agent receives $90,000 Some Services Provided 8x8 Cubicle, not an office! COSTAR Shared secretarial services with 6-8 other agents KW Commercial Annual set Cap - $25K: $200,000 GCI Agent receives $175,000 Agent pays for services Office space COSTAR Shared secretarial services LoopNet Annual cost of additional services: $5,000 – $10,000 $90,000 Net Agent Income $165,000 – $170,000 Net Agent Income Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents Them KWC No Profit Share Profit Share Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents Them KWC Cut-throat Culture Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents Them KWC No Team Building On your own… Team Building Opportunities TLs help you recruit! Implementation and Recruiting

4/15/2017 Recruiting Big Firm Agents 74,000 Referral Sources… Implementation and Recruiting

4/15/2017 Recruiting Small/Regional Firm Agents Century 21 Commercial RE/MAX Commercial NAI Global Lee & Associates Local & Regional Firms Implementation and Recruiting

4/15/2017 Recruiting Small/Regional Firm Agents Them KWC No Training Industry-Leading Training Based on CCIM Implementation and Recruiting

4/15/2017 Recruiting Small/Regional Firm Agents Them KWC No Network International Commercial Network 700 International Offices Implementation and Recruiting

4/15/2017 Recruiting Small/Regional Firm Agents Them KWC No Team Building On your own… Team Building Opportunities TLs help you recruit! Implementation and Recruiting

4/15/2017 Recruiting Small/Regional Firm Agents 74,000 Referral Sources… Implementation and Recruiting

Benefits Overview – Leadership
Keller Williams Commercial 4/15/2017 Benefits Overview – Leadership Additional PROFIT! Diversification of Revenue Stream Increased Recruiting Opportunities Increased Market Presence KWRI will Lead Commercial Training Implementation and Recruiting 44

Keller Williams Commercial 4/15/2017 Benefits Overview – Leadership Additional PROFIT! – Example ($20K Cap) Qty. Agent Type Additional Co. $ 2 Director Level (Full Cap) $40,000 6 Associate Level(1/2 Cap) $60,000 10 Residential (Increased 1/2 to Full) $100,000 Total Market Center: $200,000 $200,000 of additional Company Dollar! Implementation and Recruiting 45

Keller Williams Commercial 4/15/2017 Benefits Overview – Leadership Additional PROFIT! – Commercial Referrals The average commercial deal is $750,000.00 Average commission is 2.7% $750,000 x 2.7% = $20,250.00 x 25% (referral fee) =$5,062.50 Time spent for referring agent: 10-minute phone call Or $30,375/hour Implementation and Recruiting 46

Keller Williams Commercial 4/15/2017 Benefits Overview – Leadership Diversification of Revenue Stream Countercyclical to Residential Cycle Cycles Within Cycles in Commercial R.E. Implementation and Recruiting 47

Keller Williams Commercial 4/15/2017 Benefits Overview – Leadership Increased Recruiting Opportunities Local commercial agents Local residential agents looking to expand their practice Business professionals looking for new career: CPAs, bankers, title company, etc. Implementation and Recruiting 48

Keller Williams Commercial 4/15/2017 Benefits Overview – Leadership Increased Market Presence Commercial signs Commercial transactions in local papers Implementation and Recruiting 49

Keller Williams Commercial 4/15/2017 Benefits Overview – Leadership KW Will Lead Commercial Training Removes burden from Team Leader to train commercial agents Increased GCI of commercial agents Decreased liability and E&O exposure to Market Center Implementation and Recruiting 50

4/15/2017 Implementation and Recruiting 51

53 Keller Williams Commercial 4/15/2017 Implementation and Recruiting

4/15/2017 Website Tutorial Implementation and Recruiting 56

4/15/2017 Website Tutorial Cliff Bogart Dallas, TX Lauren Bratich Wexford, PA Chuck Brown Asheville, NC Larry Culbertson Atlanta, GA Jennice Doty Gilbert, AZ James Engel Beverly Hills, CA Charles K. Frankel Spring Valley, NY Ernest Furtado Toronto, ON - Canada Theo Harris Baltimore, MD Mike Kerwin Everett, WA Tom Lackman Scottsdale, AZ Evan Langert San Francisco, CA Len May Philadelphia, PA Jim McClung San Antonio, TX Scott Miller Mendota Heights, MN David Moskowitz Los Angeles, CA Eric Nesbitt Highlands Ranch, CO Scott Nicholson Austin, TX Nancy Lemas Boise, ID Mark Raccuia Chicago, IL Steve Scheffe Austin, TX Kevin Scragg Austin, TX Tony Solomon Santa Monica, CA Mark Shapiro Baltimore, MD Alan Siebenaler Los Angeles, CA D. Scott Smith Baltimore, MD Peter West Los Angeles, CA Joe Williams Austin, TX Jay Willingham Augusta, GA Lamar Fisher Pompano Beach, FL Implementation and Recruiting

4/15/2017 Website Tutorial Implementation and Recruiting 58

4/15/2017 Implementation and Recruiting

4/15/2017 Private Website Member Login Implementation and Recruiting 64

4/15/2017 Training Overview Introductory Level Courses CRE Referral Business & Qualifying Transactions CRE Basics for Residential Agents Transitioning: Residential to Commercial Brokerage 100 Level Courses 100: CRE Overview: Transactions & Opportunities 101: Fundamentals of Investment Real Estate 102: Fundamentals: Leases & Leasing Process 103: Property Types & Characteristics 104: Marketing for CRE Business-Bringing Value 105: How to Market Properties & Close 200 Level Courses 201: Investment Real Estate Analysis 202: Lease Analysis & Lease vs. Buy 203: Property Issues: Zoning, ADA, Hazmat 204: Building your CRE Business 205: Creating Marketing Packages 300 Level Courses 301: General Investor Representation 302: Land Sales & Land Issues 303: Multifamily & Investment Sales 304: Arch. Planning & Construction Costs 305: Alt. Strategies: 1031’s, TIC’s, Ground Lease 306: Leasing Legal Issues Implementation and Recruiting 67

4/15/2017 Best Practices Library Brokerage and Commission Agreements Purchase and Sales Agreements Ancillary Documents Letters of Intent Disclaimer Letters Leases Marketing and Training Documents Request for Proposals Development Agreements Implementation and Recruiting 69

4/15/2017 Best Practices Library Lease Commission Agreement Representation Agreement Joint Representation Nondisclosure Agreement Commercial Listing Agreement Sublease Listing Agreement Release Agreement Brokerage and Commission Agreements Implementation and Recruiting 70

4/15/2017 Best Practices Samples Implementation and Recruiting 71

4/15/2017 Marketing Materials and Logos Distinctive commercial logos to be utilized on all branding materials KW Commercial logos may by used in conjunction with individual branding and logos Implementation and Recruiting 73

4/15/2017 Marketing Materials and Logos LETTERHEAD ENVELOPE BUSINESS CARD SIGN Implementation and Recruiting 74

4/15/2017 Marketing Materials and Logos International Marketing Book Implementation and Recruiting 75

4/15/2017 Recruiting Commercial Agents Recruiting Brochure Implementation and Recruiting 76

4/15/2017 National Vendor Partnerships Discounts from service providers (REIS, CCIM, REA, Site To Do Business, etc.) Implementation and Recruiting 78

4/15/2017 Recruiting Commercial Agents The Seven Commercial Sources Setting the Appointment Closing the Commercial Recruit Implementation and Recruiting 79

4/15/2017 The Seven Commercial Sources Engage ALC Google™ – Find Companies Commercial Websites Drive Market – Signs Yellow Pages Local Business Journal Local Boards – RCA, CCIM, SIOR Implementation and Recruiting 80

4/15/2017 The Seven Commercial Sources Engage ALC Monthly ALC Agenda—Focus on KWC. Leverage residential agents to set appointments with commercial agents. Educate residential agents on building their Profit Share tree through commercial agents. Implementation and Recruiting 81

4/15/2017 The Seven Commercial Sources Google Implementation and Recruiting 82

4/15/2017 The Seven Commercial Sources Commercial Websites Implementation and Recruiting 83

4/15/2017 The Seven Commercial Sources Drive Market—Signs Implementation and Recruiting 84

4/15/2017 The Seven Commercial Sources Yellow Pages Implementation and Recruiting 85

4/15/2017 The Seven Commercial Sources Local Business Journals—Closed Transactions Implementation and Recruiting 86

4/15/2017 The Seven Commercial Sources Local Boards RCA – Realtors Commercial Alliance CCIM – Certified Commercial Investment Member SIOR – Society of Industrial and Office Realtors Implementation and Recruiting 87

4/15/2017 Setting the Appointment Recruiting Scripts “Hello, my name is _______, Team Leader with Keller Williams in the _______ office. I would like to speak with you about the new Commercial Division of Keller Williams. We are contacting a select few top-notch commercial brokers in our area to be the point person in our office for commercial referral business and commissions from our 73,000 plus residential agents nationwide! ________ (recruit’s name), we estimate that $100 million in commercial commissions are generated by our residential agents annually! Are you available next _____ at ______ o’clock to meet and discuss this exclusive and unique opportunity? Implementation and Recruiting 88

4/15/2017 Closing the Commercial Recruit Commercial Director Level Agents in Market Center CLC – Commercial Leadership Council Buddy Norman and the KW Commercial Team Implementation and Recruiting 89

4/15/2017 Membership Payment Plans Up Front Payment Director: $1,500 for 16 month membership Associate: $900 for 16 month membership Quarterly Payment Director: $375/quarter, 12 month membership Associate: $225/quarter, 12 month membership Transaction Payment Director: $200 up front, 2.5% of all transactions to $1,800 Fee, 12-month membership Associate: $200 up front, 2.5% of all transactions to $1,500 Fee, 12-month membership Implementation and Recruiting 90

4/15/2017 Membership Where We Are Now 575 Members 300 Directors 275 Associates Where We Are Going 6,000 Commercial Agents by 2013 –1,000 2010 1,500–2,000 2011 2,500–3,000 2012 4,000–5,000 2013 6,000+ Implementation and Recruiting 91

4/15/2017 Commercial Agent Requirements What Do Commercial Agents Want? COSTAR, LoopNet Office Space Executive Assistant Marketing Materials Backroom Support – MCA (Transaction Services) Implementation and Recruiting 92

4/15/2017 Commercial Agent Requirements What Do You Give Them? Similar services as residential agents = Similar Cap Additional services vs. residential agents = Higher Cap Separate phone line for identity Group commercial agents together in office if possible Add KWC Director to your ALC Implementation and Recruiting 93

4/15/2017 Three-tiered Structure Associate Level A residential or commercial agent with limited experience in commercial transactions working toward achieving senior level status. Director Level A full-time commercial professional in terms of both transactions and production volume. See IM Manual Managing Director Once an office has multiple Directors & Associates a M.D. may be appointed by the TL & OP to assist with issues, recruiting, etc. Implementation and Recruiting 94

4/15/2017 What Steps to Take Implementation Manual Implementation and Recruiting 95

4/15/2017 What Steps to Take Goals – Get a KWC Director Recruit from Director Down Help – Who do I call? – CLC Implementation Manual Buddy Norman – Team Leader of KW Commercial Implementation and Recruiting 96

4/15/2017 Q & A What questions can we answer for you? Implementation and Recruiting

4/15/2017 Let Us Help You Recruit! Gloria Sivori Melissa Calles Implementation and Recruiting

Keller Williams Commercial

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