Level Up - From Agent to Entrepreneur

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From Team Leader to Brokerage Owner: Jeff Cohn On the Evolution of His Business

The best leaders in real estate create a world so big that their people can build their own empires inside it. Whether it’s building a brokerage or going after ancillary businesses, thinking like entrepreneurs retains top talent, improves the service we give the consumer, and ultimately, it makes our organizations more valuable.

Why did Jeff Cohn decide to switch from running a team to owning a brokerage? What ancillary business can we add to our businesses for passive income?

In this episode, the owner of KWElite and host of The Team Building podcast returns to talk about the evolution of his business.

 

"If the businesses we’re in aren’t generating more income in less time, with less energy, we should look for a different business to run or change the way we’re doing business." -Jeff Cohn

 

Three Things You’ll Learn In This Episode  

 

  • Why Jeff Cohn chose to build a brokerage
    Teams are great for getting newer agents but what happens when that agent wants to build their own big business?
  • The untapped potential of joint ventures in real estate
    There are 3 ways to win monetarily with ancillary businesses, but what’s the most valuable and passive one?
  • The ancillary business with a $12 million potential
    Why is insurance such a perfect-fit ancillary business for a real estate organization?

 

Guest Bio

Jeff Cohn is a nationally renowned speaker, host of The Team Building Podcast, and owner of KWElite, a tech-powered Keller Williams market center in Omaha, NE. As founder of Omaha’s Elite Real Estate Group, now kwELITE, he led his team from 70 to 700 transactions in 6 years, and was awarded the #1 team in unit sales in the world at Berkshire Hathaway HomeServices in 2019. Since beginning his real estate career in 2006, Jeff’s team has closed over 5,000 sales, totaling over $1 billion in volume. Devoted to ongoing learning throughout his career, Jeff has forged strategic relationships with industry leaders across the country, listened to thousands of hours of podcasts and read hundreds of books, providing him with a vast knowledge base. Jeff is considered a foremost real estate expert due to these efforts, and as founder and CEO of Elite Real Estate Systems, a coaching company, offers the annual Team Building Summit, monthly workshops, and weekly coaching calls. As a credit to his extensive know-how, Jeff speaks frequently at various events throughout the US and Canada.

To get your tickets to The Team Building Summit, go to https://www.theteambuildingsummit.com/ and use code PODCAST to get $100 off your ticket.

5 Steps To Level Up Your Confidence

Real estate is a game of confidence where our success is a direct result of the quality of conversations we’re having with consumers. We have to feel good about the conversations we’re having to convert at the highest level.

What steps can we take to build up our confidence so we can expertly control ANY conversation?

In this episode, we’re going to share 5 things we need to be doing to continuously up our game and increase our confidence as salespeople.

 

"We know that confidence is the key to finding high level success in any sales position, but it’s critical in real estate." -Brendon Payne

 

Three Things You’ll Learn In This Episode  

 

  • How to succeed in an extreme seller’s market
    In a transitioning market, the conversations we’re having change constantly. How do we make sure we’re confident regardless of the direction the dialogue takes?
  • Leading market indicators vs. lagging market indicators
    We can’t have confidence without knowledge. What metrics do we need to stay on top of to stay clued in?
  • Why skills development is an ongoing process
    How do we make sure we’re improving our ability to have effective conversations, and create opportunities for improvement?

Protecting Profits While Increasing Production

In real estate, a little taste of financial success often leads to an immediate increase in lifestyle, which can be detrimental to our businesses. This occurrence is so common, it’s become an industry cliche.

Right now many agents are reaping the benefits of a hot market, but before we go buying that brand new car, we have to practice caution.

How do we protect our earnings and create real long-term financial stability? In this episode, we talk about how to protect your profits in any market condition.

 

"We need to earn like it’s a hot market, and spend like it’s a cold market." -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

  • The link between money and image
    What drives agents to increase their lifestyles after getting a little taste of success?
  • Why we shouldn’t spend our hard-earned money too quickly
    If we’re having a great year business-wise, how long do we wait before increasing our lifestyles?
  • How to avoid a feast-and-famine cycle
    Since we earn our money on a lagging timeline, how do we ensure our long-term stability?

The Language of Sales: Using NLP to Communicate, Connect and Close More Deals w/John Ryan and Abe Safa

For real estate professionals, effective communication is the key to excelling in our businesses. Building up this muscle allows us to become the kind of salespeople that inspire people, instead of the salespeople that try to force people to take action.

We’ve heard about neuro-linguistic programming (NLP), and why mastering it makes us stronger in sales, but how do we actually use this skill practically?

In this episode, we’re joined by Abe Safa and Certified NLP Master Trainer, John Ryan. He shares NLP techniques we can implement to get better results from our client conversations.

 

"Resistant clients don’t exist. There’s only a lack of rapport and ineffective communication." -John Ryan

 

Three Things You’ll Learn In This Episode  

  • Force vs. power in sales
    Can sales ever be a process of inspiring clients or does it always have to be forceful and manipulative?

  • How to handle any objection that comes our way
    What’s the difference between conscious competence and mastery when it comes to scripts?
  • Overcoming our fear and anxiety around sales
    What are the 3 things that determine our results in business and sales? 

 

Guest Bio 

John Ryan is a Coach, Consultant, Speaker and Certified Master Trainer of NLP. Over the past 20+ years, he’s had the privilege of logging over 1,500 days leading Seminars and countless hours providing Executive Coaching and Consulting. John’s focus is on Leadership, Communication, Change and Neuro Linguistics for Leaders, Managers, Business Owners, Sales Professionals, Consultants and Coaches.

To register for John’s 8-week course The Language of Sales: Using NLP to Communicate, Connect and Close More Deals, go to http://nlpcloser.com and use code anchor to get $100 off.

The Listing Agent Mindset

The prevailing sentiment among agents is that this market is too difficult to get listings. There isn’t enough inventory, motivated sellers are too hard to find, and there aren’t a lot of opportunities, but what if it’s all just a mindset?

A successful listing agent goes out into the market with the belief that there’s a ton of opportunity, and they align themselves with it. What kind of mindset does an agent need to be in if they want to be effective at taking listings?

In this episode, we talk about how successful listing agents think, and why thinking there’s no opportunity puts us in a precarious position.

 

"Regardless of what the market is, you have to adopt the belief that every owner wants to sell." -Brendon Payne

 

Three Things You’ll Learn In This Episode  

  • The truth about the “low inventory” market
    What are some of the indicators that there is a lot more listing inventory than we think?
  • How successful agents continue to generate transactions
    Can we have the motivation to go out there and generate business if we believe there are no opportunities?
  • Why there are no bad conversations with sellers right now
    How do we approach conversations with sellers in this market?

Eliminate Call Reluctance: The Top Producer Secret Sauce For Generating

When we think about making calls, most agents tend to think in terms of how to get a resounding ‘yes’, but sometimes, a ‘no’ can be more profitable. 

 

The truth is, in real estate, a ‘no’ is seldom a final answer, and ‘no’ typically means not right now

 

So, what can we do when we’re faced with a ‘not right now’? Is there a way to nurture a lead over the long term without coming across as sleazy salespeople?

 

In this episode, we’re talking how to monetize a rejection and build a phenomenal pipeline for the future. 

 

While we’re looking for business today, a lot of agents are missing out on opportunities for FUTURE business by taking a ‘no’ at face value. -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

  • How to stay in contact with a lead, no matter what their initial response is

    Is there a way to keep leads in our database, even if they won’t be interested in a transaction for the foreseeable future? 

 

  • Why there’s no such thing as a ‘bad’ lead

    How can we completely change our mindsets regarding unresponsive or presently uninterested leads? 

 

  • The importance of regular communication

    How can we stay top of mind with everyone we reach out to, so even if they’re not looking to sell now, the moment they are, we’ll be their first port of call?

HOT Market, HOT Buttons! Learn How To ”Wow” Your Seller Clients

Whether we’re in a hot market or a down market, whenever things seem to be out of balance, it’s our job as agents to guide our clients through the process. 

 

Managing our clients’ expectations (or, more importantly, their emotions) is the key to keeping any transaction running smoothly. 

 

The question is, how do we do that? Is it really as simple as having a clear line of communication? 

 

In this clip, we're introducing the concept of 'future pacing' and doubling down on the importance of being up front from the get go.

 

Be open with sellers about the challenges and curveballs that might be thrown their way in a transaction. It's called future pacing. -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

  • When to start the process of future pacing

    Is there a right time to tell our clients what to expect from their transaction? 

 

  • Why total transparency positions us as experts

    Could outlining all the potential challenges ahead of time be the thing that sets us apart as an industry guide?  

 

  • How to prepare our clients for remorse

    No one wants to factor in the potential for remorse in a transaction, but is there anything we can do to prevent it?

Stop Letting The Competition Win: Time To Kick Their Butt

Most of the time, when we think about our competition, we think about other agents in our marketplace, but what if our greatest rival is a lot closer to home - what if our greatest competition is us? 

 

We're all after increasing our performance, production and potential, and the greatest thing we control is what we do every single day. 

 

How do we start seeing ourselves as the competition and ignore everyone else? 

 

In today’s episode, we talk about one simple way to increase our productivity this year. 

"When you choose to compete with yourself, you’re going to have to learn to take more responsibility for what you do." -Brendon Payne

 

Three Things You’ll Learn In This Episode  

 

  • How to create a you-vs-you scorecard

    Are we losing more time, money and opportunity because we’re competing with other agents or losing to ourselves? 

 

  • Why we have the power to propel and also sabotage our success

    What are the times where we can benefit from considering ourselves our own competition? 

 

  • Why other agents in our markets are irrelevant to our success

    What’s the difference between the internal motivation to be better and the external motivation to keep up with everyone else?

When In Doubt Do These 3 Things EVERYDAY

The New Year always comes with such a flurry of new ideas and options, the fundamentals can easily get lost in the noise. There are so many things we could be looking at, but we just can’t be effective if we’re spread too thin. 

 

How do we go deep instead of wide with our activities? What activities do we need to be focused on to generate momentum?

 

In this episode, we talk about how to set yourself up for success by focusing on the core activities that will significantly impact our businesses this year. 

 

"It’s better to go deep on a few simple activities than it would be to go wide on a lot of activities." -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

  • The difference between marketing and follow up

    How do we take our lead follow up to the next level so we aren’t just top of mind, but actually adding value? 

 

  • How to make following up a lot easier

    If we’re following up with people frequently, what do we actually say so we don’t become that pesky “are you ready to sell yet” agent? 

 

  • The one skill that will give us a tremendous edge on the competition

    In an extreme market, agile communication is key. How do we constantly upskill to meet the demands of the market?

Scripts And Dialogues: Why Yours Aren‘t Getting You The Results You Want

While well-meaning coaches, team leaders and Brokers typically equate scripts with dialogue, that couldn’t be further from the truth. As a matter of fact, by thinking of them as one and the same, we could actually be doing ourselves a grave disservice. 

 

So, what is the chief difference between the two, then? 

 

Is one more likely than the other to get us better results with leads? Could focusing too much on one or the other be the reason we’re yet to see the results we’re aiming for? 

 

In this episode, we’re talking scripts and dialogue and unpacking the reason why they’re just not working for some. 

 

"Scripts are 1 or 2 sentences that you know work every time to help you enter into a dialogue, and 1 or 2 that help you exit the conversation, but they’re not the magic in-between." -Greg Harrelson

 

Three Things You’ll Learn In This Episode  

 

  • Why dialogue in today’s market is more important than ever before

    What are the pitfalls of scripts in a hot market, and why should we be paying more attention to dialogue, instead?

 

  • When scripts are helpful

    There’s a time and a place for scripts, so what is it?  

 

  • The hallmark of true dialogue

    What does effective dialogue actually look like, and is there a quick fix to getting better at it? 

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