2020 Fall Arts and Crafts Market Extravaganza
Over 100 Crafters and Vendors
2020 Fall Arts and Crafts Market Extravaganza
Over 100 Crafters and Vendors
7 Battle-Tested Scripts from KW’s ‘Choose Your Script Champion’
“The words that we use are so important,” started VP of Industry Jason Abrams at KW’s inaugural “Choose Your Script Champion” event at Mega Camp. “So much so, I like to say they are our art form; the words are the paint, and conversation, the canvas.” Agents who can script their own Sistine Chapel are destined to move their clients into action faster, leaving more time for building their empire.
But what is it that distinguishes a masterpiece from a bunch of words on a piece of paper? Abrams boiled it down to three bullet points:
These three traits were embodied by every contestant in the first two competitions, but by the end of Mega Camp, only two champions remained: Anna Kilinski and David Huffaker. These two oratory prodigies will be joined by future Choose Your Script Champions in a winner-take-all dialogue melee at next year’s Family Reunion. Keep an eye on all KW communication channels to find out when the rest of the qualifying rounds will go down.
And, if you aspire to enter the Choose Your Script Champion Thunderdome one of these days, you’re in luck. Below, you’ll find 7 scripts from the actual competition that will help you sharpen your skills and strengthen your defenses.
Alexis Weigand: Absolutely, <seller name>, I can appreciate that and get it a lot, because you probably see this luxury brand’s signs in the yards. I actually came prepared with their solds and our solds.
The great news is – we have already sold 150 homes in your area and they have only sold 30. Now, that doesn’t mean that they haven’t listed more. But here’s the kicker, their average days on market is 101. When you hire us, our average days on market is six.
And, <name>, we are averaging our clients 99% list price. They’re averaging their sellers only 95% list price. You told me that top dollar was half a million on your house. And that’s 4%. What is the difference? $20,000. What could you do with an additional $20,000 in your pocket?
Nick Waldner: <Name>, I completely get it. I mean, this is a very tough market for a lot of sellers in your position. So tell me, what is giving you the desire to move right now?
Seller: I need to get into a bigger house.
Waldner: Absolutely. We have a couple of different options, and all of those options are going to be up to you; my job is to deliver the options and then you choose.
There are lots of different options, and my job is just to help you determine what’s best for you.
Anna Kilinski: You know what? I can totally see why you love that house. And you know what? I want one like that too. In fact, my husband says that I have the same problem. I always want things that I can’t afford. I wish that I had a little bit more money that I could just give to you. But at the end of the day, I’m not a real estate magician such that I can shave $300,000 off of the house.
But what I am really great at – what my value proposition is for you and your family and number one goal – is to help you build wealth through real estate. And, I think we can both agree that buying a house that is not within your budget – that doesn’t support providing your family with the life that you deserve. So let’s revisit your goal and your motivation to find the perfect house in the perfect budget so we can start to build your perfect life.
Anthony Mason: I completely understand you’re passionate about the price in which you’ve found. Let me provide you some insight on how I get homes sold.
If we come out the gate with your home over price, all of the agents that show your property instantly write your property off because, at that point, because you’re overpriced, you’re considered an unmotivated seller. In this market, ‘unmotivated seller’ means you’re highly priced above the market.
If any agent actually sees that your property is overpriced and we come back and we try to reduce the price later, you’re still seen as an unmotivated seller. With that, it also puts in the eyes of those agents that you’re an unrealistic seller who will not cooperate when the time comes for us to be under contract.
I’ll make you a deal. Sign the agreement with me today. I’ll get an appraiser out tomorrow. And, if the appraiser comes back at your price, I’ll pay for the appraisal and vice versa if it’s the other way around.
Courtney Newton: I can clearly see you’re a strategic person. And, have you considered that by waiting and interviewing other agents, you may actually be jeopardizing the equity position you have in your house?
Seller: No, I mean, I’m sure it’s just going to be a few days. You think that’ll make a difference?
Newton: Let me explain. Because, while you’re interviewing those agents, the buyer that’s willing to pay the most money for your house may be out looking. So what we need to do is get started. And, when you hire me and my team, we immediately go to work identifying that buyer and driving them to your house, as well as other buyers that may be in the marketplace looking. So do you agree that I would be able to get your house sold?
Seller: Yeah, sure.
Newton: Great. Then let’s do the right thing and get the contract signed tonight and put me to work getting your home sold.
Chase Sloan: Hey, <name>, you know what? I can appreciate that. And I like you, too. <name>, let me ask you a question. Do you want your home sold by a brand or a business?
Seller: I don’t really know the difference.
Sloan: Here’s the thing with the brand. It’s just a name. It’s not personal. I mean, we’re even seeing right now in this time that people are switching brands because they just don’t relate anymore. What you need is a business, someone like me, that’s here with you right now. I can focus on making sure you get your home sold according to the way that fits you best.
Now, I appreciate that other company. In fact, we co-op with them all the time. But during times like this, you need a business that cares most about you. And that’s me. So let’s go ahead and do the right thing. Let’s get your home sold. I have the contract right here.
What do you say we go ahead and sign?
David Huffaker: I appreciate the fact that you’re willing to ask that. I mean, let me ask this. Do you want me to do it for a reduced fee, or do you want to walk away from the closing table with the largest check possible?
Seller: I’m not sure what you mean. To get the largest check possible, you’re going to have to come down on your fee.
Huffaker: Well, that’s not necessarily true. Can I explain?
Huffaker: In the absence of value, price becomes a conversation. And for a team like us with 35 members spending over $80,000 a month to market your home, we can guarantee you that we’re going to net you and gross you the most money possible in this market. Does that make sense?
Seller: Yeah, that makes sense.
Huffaker: What happens is you have other agents out of the marketplace that maybe can’t match that value or don’t feel like they offer the value that they should.
I’ve done the market research, and I can tell you that my team lists and sells homes for 101% of the list price on average. The average agent in our area, on the other hand, sells for 96%. So that’s a 5% difference in price.
So, let me ask you this. If the other agent did it for 0%, wouldn’t you still be losing 2% by not hiring me?
Seller: I guess I would.
Huffaker: Well, what we want to do is make you the most money in closing. And we went through the price of the home and the marketing. And, let me say this, if you’re not absolutely in love with the job that I do and the money that we make you in this transaction, we’ll have a conversation about commission when we get to the closing table. Does that sound fair?
Seller: Fair enough.
Huffaker: Great! Sign here.
Yes to Equity: Historic IALC Vote Centers KW’s Commitment to Opportunities for All
In June, Keller Williams CEO Gary Keller proclaimed that as a company, Keller Williams stands together in support of equality and change. “The truth is that racial injustice and inequality persists. And, in order to help change that, it’s critical to not only say something about it, but do something about it,” he wrote in an open letter to leaders and associates.
In the months that have followed, Keller’s words have been transformed into swift action, beginning with the creation of KW’s Social Equity Task Force. At 68 members strong, the task force – which includes associates from every Keller Williams region across the U.S. and Canada – has been charged with creating immediate long-range strategies to uproot racial disparities within Keller Williams. Also, to promote healing and reform across the greater real estate industry.
On September 17, the company took another step forward in its pursuit of a more equitable future by passing two key proposals at the biannual International Associate Leadership Council meeting; each brought forth by leaders from the Social Equity Task Force.
Comprised of 124 agents across the company (of which 122 were present and voted during the meeting), the IALC is evidence of KW’s agent-led model fueled by shared decision making. Through the IALC, agents are able to shape the trajectory of the company by bringing proposals to the floor to be voted on that both protect and enhance the vitality of Keller Williams and its culture.
Here is a deeper look at the proposals – which passed unanimously – and the moving testimonies each one drew.
The first proposal to pass amended the company’s belief system from WI4C2TS to WI4C2TES to include equity:
Before votes were cast, Keller Williams Social Equity Task Force co-chair John Clidy shared, “We stand behind Gary’s proclamation that it is not enough for our Keller Williams family members to refrain from exclusive and discriminatory practices, but rather we must all be engaged and active in the fight against exclusivity and discrimination. This mindset should be included in our belief system.”
Property Group team lead Jesse Dill echoed the sentiment. “It’s our culture here at Keller Williams to create a place where anyone and everyone, no matter your race, color, national origin, religion, sex, creed, age, or disability, can thrive in an environment that is truly incredible while having an opportunity to build lives worth living,” he shared. “Empathy without action is meaningless. It is our duty as IALC delegates to protect and enhance the vitality of our culture.”
In addition to the inclusion of ‘equity’ within the company’s belief system, Keller Williams leaders and agents will be paving the path toward true change through the inclusion of Diversity, Equity, and Inclusion (DEI) committees at the market center level.
“The rationale for this motion is to establish a platform for each market center to develop and promote strategies and best practices within the realms of racial, social, sexual, gender, age, disability, socioeconomic, and religious diversity for the betterment of Keller Williams culture,” National Social Equity Task Force co-chair Kymber Menkiti said.
The committees will advance the company’s mission to provide opportunities for all by working at the most granular level – in the market centers that make up the building blocks of a global operation. They will:
In speaking for the passing of the motion, Florida-based Realtor and team leader Zahide Wallace reminisced of her personal experience sharing a healing conversation with one of her team members. “It was a conversation in which she shared with me her personal experiences and the times when she had been complicit in conversations, activities, and areas that did not uplift the Black community,” she said. “I want to encourage our leaders to be courageous and brave enough to have these conversations, because I want everyone to be able to experience what I was able to experience in my conversation with this brave associate. I am excited that this proposal will continue to move the ball forward in the right direction.”
To close out the historic IALC meeting, Mo Anderson, vice chairman of the board, said: “Remember, when we leave, the joy of being one synergistic, united team that works together and grows together. You have stood tall and strong, and you’ve come together, you’ve had conversations, with many more to be had, and you’ve taken our culture to a whole other level. We are so proud.”
Keller Williams President Josh Team shared Anderson’s pride: “I am honored to watch an organization of our size and magnitude, with people from all parts of the United States and Canada, come together and align and move as one.”
Josh Team: Anticipate What’s Next And Win 2020
After a morning full of informative and inspiring breakout sessions, Day 2 of Mega Camp 2020 crescendoed with a powerful keynote featuring KW President Josh Team and KW VP of Industry (and beloved host of the wildly popular ‘Choose Your Script Champion’) Jason Abrams. The passion and energy both presenters brought to the Moody Theater were just what viewers needed to fire up the message boards with aha’s and excitement.
Team kicked off the keynote by explaining what brought him to Keller Williams in the first place: storytelling. After his first meeting with Gary Keller, Team could tell “[Gary] was a pioneer who wanted to make sure he wrote his own story.” But that authorship didn’t end with the co-founder of the company. Keller wanted everyone, from KWRI employees to agents, to write their own stories. And from the day he joined the company, Team’s story has been about empowering agents.
To help tell that story, Team invited Abrams on the stage to explain how Keller Williams is partnering with some of the biggest companies in the world to help agents craft narratives of success.
As the old saying goes, “If you want to go fast, go alone. If you want to go far, go together.” Keller Williams isn’t interested in quickly getting through 2020. It’s focusing on helping agents seize the opportunities that await in the decades that follow. And, to give agents an even greater lens into the future, KW has forged exclusive partnerships with companies like Google and Facebook.
“If you took the world’s largest real estate company and combined it with the world’s largest search engine and social platform, could they share their data and insights and craft and pioneer a new future that allowed agents to help consumers at a higher level?” Team asked. The answer is “YES,” and to prove it, Team and Abrams gave viewers a sneak peek into some of the everyday discussions they’ve been having with executives from the tech giants.
With all of 2020’s uncertainty and at-home-working, people are performing a massive amount of Google searches, and the trends are pretty indicative of what buyers and sellers are wondering. According to Google Head of Industry, Automotive and Real Estate, Dan Siegler, searches surrounding virtual home tours and contactless payment options have increased 400% since the beginning of the pandemic.
With that increased demand for digital transactions, it’s no surprise that 54% of the consumers they polled said they are willing to try a new brand if that company is perceived to be more technologically advanced. To put that in perspective, Abrams proposed a little thought experiment. “Take your database, everyone in your database, your past clients, your future clients, your family, and cut right down the middle,” he began. “If you’re not reimagining your business right now, you’re not pouring into those people. You’re not making the calls. Someone else is.” Luckily for tech-enabled agents, that 54% could lead to a lot of new business.
What’s even more surprising is the fact that 80% of consumers may not continue to use that same company post-pandemic. Abrams believes this level playing field presents two problems agents must be prepared to solve. “Number one, how do I get more leads into my system? And then, number two, how do I follow up with them with more frequency and intensity?” To answer the first question, Team consulted Facebook VP of Global Marketing Solutions, Michelle Morris.
When agents first started advertising on Facebook, the cost and complication of it were too much for some. By partnering directly with Facebook, Keller Williams made the process simpler and cheaper, producing millions of leads for under $2 a piece. Those are pre-pandemic numbers. Now, with people spending more time on their computers than ever before, the impact is even greater. Take livestreams, for example.
According to Morris, “Over 800 million people are watching livestreams on Facebook or Instagram daily.” Compare that to the 99 million households Abrams was exposed to during his time on HGTV’s “Scoring the Deal,” and it’s easy to see what a huge opportunity social media presents to agents. Morris also stressed the importance of authenticity. Livestream viewers don’t want big-budget productions. They want brands and businesses that feel real and genuine.
One other shocking statistic Morris mentioned revolved around how comfortable users are with interacting with businesses via social media. “Three out of four Facebook users in the US actually visit the page of their local businesses, and eight in 10 interact with businesses on those pages,” Morris noted. The key takeaway: If you want to promote your real estate business on Facebook or Instagram, don’t do it through your personal page. Establish a business page and take advantage of the business-specific algorithms embedded in Campaigns.
The most important partnership Team and Abrams mentioned was the one between KWRI and their agents. They highlighted this by giving a little glimpse into the exciting new features Labs has been working on throughout the pandemic.
For starters, there’s the new Campaigns email editor that allows agents to personalize their email templates by adding custom Neighborhood Nurture videos right in the header. In the KW App, clients can now request virtual tours directly from listings and find their dream home faster with the new saved search functionality.
Another showstopper was the new SmartPlans library, which allows agents from all over the world to share and exchange their most effective SmartPlans. Users can even search the database via agent name or topic, so if you’re looking for a plan specifically geared toward Instagram, you can just type “Instagram” into the search bar and see what pops up. Agents also have the ability to rate each entry, so the cream will rise to the top.
The most collaborative innovation introduced during the keynote was Command for Teams. This bespoke technology woven into Command’s existing platform gives real estate businesses of all sizes unprecedented transparency, integration, and foresight into their operations. From gaining more leads for the entire organization to routing them to the right agents, Command for Teams boosts the power of Contacts, SmartPlans, and Opportunities in Command. And that’s only the beginning.
Down the road, KWRI hopes to bring the Teams functionality to every applet in the Command toolbar, making it even easier for agents to collaborate and learn from each other. Because as KW’s partnership with Google and Facebook has proven, while everyone should write their own story, no one should do it alone.
Market Update: Gary Keller and Jay Papasan Put 2020 Into Perspective
This year’s Mega Camp got off to a slightly different start, fitting for such an unprecedented year. Rather than arriving to a massive standing ovation at the Austin Convention Center, Keller Williams co-founder and CEO Gary Keller entered the Moody Theater to the enthusiastic applause of 30,000+ home viewers (and a handful of KWRI employees). While the venue and the live studio audience were a little smaller this year, the stakes have never been higher for agents.
For just over an hour, Keller and vice president of learning Jay Papasan sat down for a casual, yet crucial, discussion about the market of the moment: how we got here, where we stand, and where we could be heading next. Before diving into the data, charts, and insights, Keller took a moment to remind everyone that “this is not meant to scare people; it is meant to inform.” Specifically, how to seize the opportunities awaiting agents on the other side of this shift. By the end of the presentation, the room (and group chat box) was filled with optimism and excitement.
Keller and Papasan kicked off their keynote with a history lesson on how America has historically dealt with pandemics. “This is the backdrop for everything we’re going to talk about,” Keller said, noting the significance of current events. “This is what happened to us in March, but it’s not the first time.” Looking back at what happened during the pandemics of 1918 and 1957, Keller and Papasan wanted to temper the expectations of anyone holding out for a rapid economic recovery once a vaccine is released.
“What we want you to take away from this conversation is that even if a vaccine shows up, history says it’s going to take a year or two years for that to wind its way through the public and then have any sort of an impact on the economy,” said Keller.
To get a better idea of what our next year or two could look like, Keller and Papasan turned to the three biggest indicators of economic health: unemployment, GDP, and inflation.
On average, the national unemployment rate sits right around 5%. Before, America was enjoying a 3.5% unemployment, making it one of the lowest on record. Then, the pandemic swept in, and that number shot up to as high as 14.7% during April. So why were some agents continuing to see record-setting transaction numbers? Because some industries were hit harder than others. Unlike professionals in the three highest-earning sectors, who have maintained around a 5% unemployment rate, the lowest-earning industry (leisure and hospitality) experienced a staggering 21.3% unemployment.
While the wealthiest Americans are keeping the industry afloat, the lowest earners are finding it even harder to participate in the housing market. The result is a K-shaped recovery, where two portions of the population are having two extremely different experiences. This kind of inequality leads to economic uncertainty, which leads to fewer investments. Keller warned that if something doesn’t happen to raise the trajectory of the bottom line, it will soon be felt by all.
This year has been full of surprises, including the drop in GDP in Q2 of this year, reaching a low of -31.7. Combine that with the 7.8 drop in Q1, and we find GDP in a similar position to where it was during the Great Recession. “The definition of a recession is two quarters in a row, so, six months in a row of a drop in GDP,” Keller explained. But for agents, there’s another number that’s an equally important forward-looking indicator: new-home construction.
Housing inventory is something the real estate industry has been trying to increase for over a decade, but between the gradual recovery from the Great Recession and the physical and financial limitations of the pandemic, construction has slowed once again. With so much uncertainty surrounding vaccines, Keller and Papasan are hesitant to guess when construction will boom again. “We’re trying to stay out of the crystal ball,” Papasan confessed, before forecasting sunny days ahead.
One number that doesn’t appear to be dropping anytime soon is home prices, which have increased an average of 6.4% since last year. Combine that with record-low mortgage rates and inventory reductions, and you can see why these prices aren’t likely to come down anytime soon. “From 1999 to 2016, there were only four months that had four months or less of inventory,” Keller explained. In the 43 months between 2017 and today, there have been 20.
One number worth celebrating is home sales, especially when compared to last year’s record-setting production. Even in the face of a global pandemic and cross-country quarantines, year-over-year home sales only fell by 4.7%. “2019 was an amazing year,” Keller recalled. “It was a year of all years. The best you recorded. So when you start comparing 2020 to the best year ever, only being down less than 5%, it’s actually a big deal. A lot of people are having their best year ever.”
One reason agents have been able to capitalize on the market of the moment is tech adoption. “Thanks to you, everyone watching this, you figured it out,” Papasan praised. “Like, how do we go virtual? How do we still serve our customers? You figured that out in late March and early April. And we’re able then to work with all of those people who wanted to jump into the market.”
Recent events have only supported KW’s tech transformation. “This is what the pandemic has done today, it has collapsed the speed of disruption. We talked about how fast we would migrate to a digital world. What was going to take another five, six years to organically get adoption has literally happened overnight.”
To balance out some of the more sobering facts and figures discussed throughout the keynote, Keller and Papasan left us with a vision of brighter days on the horizon. One where at-home testing, improved hospital care, and a vaccine have put an end to the pandemic. One where the unemployment numbers drop as the housing inventory rises. One where the agents who had the resilience and patience to outlast this shift will thrive.
“Understand that when you go through these kinds of circumstances, there is a moment when there is a true transfer of wealth that occurs,” Keller emphasized. “If you’re making all the right moves financially and professionally, you can position yourself as this comes out. You are first in line. You are off the starting block faster than anybody else, and you will reap tremendous personal and professional rewards. And history says that happens every time. Without doubt. You can bet on it. You can bet your life on it.”
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