mega open house system™ - amazon s3 · and parties (great host for a mega open house)...

Mega Open House System™

Bonus: Teams & Megas

Copyright MMXIV Master Mind Agent LLC

Who is this bonus session for?

• Team Leaders

• Agents who want to become team leaders

• This session is from the team leader’s perspective


Why a team based on Mega Opens?

• Reduce overall costs – lower marketing budget

• Higher quality leads – Phase 2 of the buying cycle

• Higher agent satisfaction – Control of destiny and self-sufficient

• Stronger loyalty – More training and more fun

• Buyer AND seller leads


Who’s done well with Mega Open Houses and Teams?


…listing 16 sellers per month

• Veteran team leader • Runs team of 19 agents holding

multiple mega open houses every weekend

• Cut $30,000 off his marketing budget adopting concept

• 2,000 guests per month • 30-40% of guest are sellers • Listing 16 sellers per month • In 2013, closed 320 homes

worth $51 million Joshua Smith


…took home $1 million in net profit

• Veteran team leader

• Built his business based on daily open houses.

• 2 buyer agents and 2 showing assistants

• Buyer agents MUST hold 50 open houses per year – any day of week

• In 2013, he closed 220 homes worth $73 million, earned $1.8 million in GCI, and took home $1 million in net profit. Chris Suarez


…team agents generate their own leads

• Veteran team leader

• Built team of 47 agents all doing mega open houses

• In 2005, he closed 429 homes worth $168 million and earned $3.9 million GCI

• Team agents generate their own leads…Brent does not hand leads out. Brent Gove


Why base your team on Megas?

• No more lead dependence

• Reduce costs

• Keep great agents longer

• Recruiting is easier

• Higher agent production

• Training is easier

• Hiring is simpler

• Financial clarity

• Leverage your admin staff

• Success stories are already happening Copyright MMXIV Master Mind Agent LLC

No more lead dependence

• Train agents how to lead generate

– Give an agent a lead, you feed him for a day…teach an agent to lead gen, you feed him for a lifetime!!!

– Reduce stress of team leader…who’s constantly under pressure to bring in (purchase) new leads



• Eliminate cherry picking and lead decay

– Most agents go broke lead generating for their agents…and then watch the agents sit on the leads…or worst, never follow up at all. Why? They have no “skin” in the game. (Brent Gove)

– When they generate their own leads, they will follow up. Why? It was their effort to get the lead.



• Provide coaching & training…instead of leads

– Old trade:

• I’ll give you leads, you work them

– New trade:

• I’ll teach you how to be a highly successful agent generating your own lead, you work here for X years

– Be a trainer. NOT a lead provider.


Reduce costs

• No outside lead generation, less cost

• Joshua Smith reduced budget by $30,000

– He cut his direct mail, radio, TV ads

– He’s getting MORE leads and better clients


Keep great agents longer

• Loyalty pledge – I’ll teach you HOW, you stick around

– Brent Gove: “I’ll teach you for a year-and-a-half, then you stick around for a year-and-a-half. Meet me half way. Let me get my investment back. It’s not worth it for me to have you leave after a year-and-a-half. I need a 3 year commitment. Can you commit?”

– Sign contract (may not be enforceable in your state)

– In 10 years, only 2 of 80 agents have broken the commitment. Most agents stayed 4-5 years. A few have stayed 10 years.



• Compensation plan promotes longevity (Gove) • 50% - 1st year

• 60% - 2nd year

• 70% - 3rd year

• 80% - 4th year and beyond

• Can work if TL is not paying for outside lead generation

• Transaction costs are split at the same level as commissions are split

• $1,000 new furnace repair for 60/40 agent, then agent pays $600 and TL pays $400 (error agent has to pay for)

• $300 transaction coordinator fee for 60/40 agent, then agent pays $180 and TL pays $120 (cost of sale)



• Make working on your team FUN (Gove)

– Monthly, quarterly, annual contest & rewards

– BIG prizes for BIG success (hitting goals)

– Meet minimum annual production goal (36 closed):

• Go to Maui with team OR

• Go on Caribbean Cruise with team


Recruiting is easier

• Success attracts success

– Word gets out

– See everyone earning money and having fun

– Top people want to join

• Always work on team building

– Create a success culture

– Winners like to be with other winners


Recruiting is easier

• Why should agents join?

– Brent Gove: “I’ll teach you HOW to be a highly successful, self-sufficient real estate agent. I’ll teach how to make 50k, 100k, even 200k per year. I know how…because I’ve already done it.”


Higher agent production

• Team agents specialize and become great lead generators

– more volume & higher quality

• Minimum activity requirement

– 50 opens per year – any day (Chris Suarez)

– 3 opens per month – weekends (Joshua Smith)

– No minimum - produce or perish (Brent Gove)


Higher agent production

• Average production stats (Joshua Smith)

– 100 leads (guests) per month (from 3 Megas)

– 5% conversion of leads to clients

– 75% close ratio of clients to closings

– Result = 4 closings per month

• There for goal is:

– 4 closings per month

– 50 closings per year

– Per EACH team agent


Training is easier

• Do it yourself first

– close 30 homes per year minimum…first

– Then hire others and train

– Now you have knowledge and legitimacy

– You can answer all training questions


Training is easier

• Meet weekly for 1 hour to train BA (Brent Gove) – Tuesday 10 am to 11 am

– Scripts and role play

– Contract negotiation strategies

• Available for questions by phone or email – maybe 15 minutes per day (2 or 3 five-minute call)

• NO managing – Give keys to kingdom. Then let them do it.

– Teach them HOW and get out of the way. I’m not responsible for their success, they are. The right person knows how to do this.


Hiring is simpler

• Look for a TYPE of person, not skill level • Skills can be taught • Hire a high “I” personality type (DISC)

– Out-going, love people, talkative, friendly, love crowds and parties (great host for a mega open house)

– Secondary trait “D” so they can close the deal (ask for contact info, set appointments, get decisions,…)

• Do NOT hire a high “D” personality type – Director, head-strong, opinionate, decisive

• Do NOT hire a high “C” or “S” (indirect, anti-social) • High “D” wants to take over OR leave & start their

own business. High “I” wants to be part of a team. Copyright MMXIV Master Mind Agent LLC

Hiring is simpler

• 3 key hiring questions (Brent Gove)

– Do I like them?

– Do I trust them?

– Do they have what it takes? (outgoing, people skills, likeable)


Financial clarity

• Know who pays for what

• Make a policy

• Joshua Smith invests in signs and pays for flyers deliver.

• Chris Suarez provides 10 open signs per agent.

• Brent Gove’s lead gen budget = zero. Team agents buy their own signs and do opens on Saturday and Sunday for 6-7 hours per day 10am-5/6pm (and take off Monday or Friday).


What can be delegated to your administrative staff?

• All paperwork and preparation

• I recommend you (or a team agent), retain direct prospecting and hosting.

• Let’s look at the Daily Promotion Schedule

– We’ll indicate what can be delegated to admin staff with a RED BOX OUTLINE


Daily Promotion Schedule


Daily Promotion Schedule

Hire a teenager to put up signs


Success stories are already happening

• Brent Gove’s agent Andrea Parker mom with 2 young kids (ages 2 & 4) sold 59 homes her first year in real estate doing mega open houses every Saturday and Sunday…and earned 188k net on 50/50 split.

• Joshua Smith’s agent Nate Brill did 5 mega open houses his first 90 days full time and already has 7 clients and over $2 million in sales volume on the books.


Who hosts the mega open?

• Team leader solo – TL keeps all leads

• Team leader with a buyer agent – TL gets seller leads, BA gets buyer leads

• Buyer agent solo (most common for team) – BA gets buyer leads and refers seller leads to TL

• free or small referral fee – 20%

– If “Team Agent” (work with both buyers and seller), BA gets all leads

• Buyer agent group (2 or more agents together) – Round Robin (rotate every other guest) – Both work door (or one door and one kitchen – rotate every 30 minutes)

• Paid professional hostess (Terry Hunter) – Hire “good looking, friendly, out-going” person to host & collect leads – Pay an hourly rate to hostess and keep all commissions – Leverage into 2,3,4 mega opens simultaneously (monitor)


How do you train your team agents?

• Easy…

• Train them with the Mega Open House System™ videos & recordings

• Have them review each session, then you quiz

• Note: as a MOHS member, this training is available for you and your direct team (not company – contact me for company pricing)


mega open house system™ - amazon s3 · and parties (great host for a mega open house)...

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