We're in a quick moving market and staying on top of your market conditions is your best opportunity to stay ahead of the game while growing your business! 

In todays meeting we discussed the following insights:

• Why did the cancellation rate increase and how to avoid that issue. 
• What's the best way to set yourself up for success if your representing a buyer or seller in this type of market. 
• What does the market look like in the next 3 years. 
• Setting the correct expectations with your clients to avoid issues during the contract 2 close process. 
• If there are 17,000 agents and less than 3,000 homes what can you do to separate yourself from the heard. 

Plus, all segments of the market broken down by supply, demand, absorption rates and what the current months supply look like! 

Check it out! 

https://us02web.zoom.us/rec/share/9xGWgiMqTSKOafda99_wo0POth1PbvueTRQziCbA_qUQifWPf5H29rjrLYfvfUM0.kh5LyQVfFYNjRVbR

Passcode: cT1=a72$ 

Hey RR Nation, I created over 20 custom drip campaigns in KV Core that you can clone and make your own to put your KV Core CRM on steroids to generate tons of leads and responses from all of your contacts. 

These campaigns have emails, videos, texts, follow ups and advanced emails that automatically go to each of your contacts in a sequence 365 days a year. You can truly SET IT AND FORGET IT then see the leads come in! 

I'm adding the training class to Element by Monday in the "advance training" category.

Here is a link to the training class and a screenshot of the What, Why, How, Now for custom campaigns:

https://www.youtube.com/watch?v=-ADBn7qiiy4

Do you want to know how to close 18 transactions and make $100,000 in 1 year working in the real estate industry?

Then check this out! I broke down all the numbers:

Here are the Key Performance Indicators also known as KPI’s

• 20 hours of prospecting per month which equals:
• 1 hour of prospecting each day Monday thru Friday from these categories:
• SOI
• Internet Leads
• Targeted Farm Prospecting
• Your GOAL is to have 200 conversations a month with prospects that may or may not be interested in real estate now or in the future.
• A conversation is considered back and forth communication with a definitive yes or no to move forward with your services.
• Keep in mind all conversations that lead to a “yes” will be either short term, mid-term or long-term nurtures added to your KV Core database.
• If your KV Core database has 300 nurtures that are being serviced properly that will lead to 1 additional closed transaction per month in the future which is not part of the KPI’s we are discussing here. This is an added bonus for your hard work.
• You can expect a 2% conversion rate on the 200 conversations per month that you have which will equal 4 appointments.
• A 2% conversion rate is industry standard and par with Resolution Realty’s agent production.
• Out of the 4 appointments that you set you can expect 50% to sign a listing agreement or a buyer’s broker agreement with you which equals 2 NEW clients.
• Your 2 new clients will go under contract but there is always 20% of your escrow pipeline that cancel.
• With 2 transactions in escrow and an industry standard 20% cancellation rate you can expect to average 1.5 closings per month out of 12-month period.

Here is how the math breaks down to earn $100,000

• 1.5 closed transactions per month is a total of 18 closings per year:
• The average home sale is $331,000 which equals a Gross Commission Income of $9,930.
• If you are on an 80/20 split for example, then the total Adjusted Commission Income will be $7,944.
• Your per closed transaction income is $7,944 which is multiplied by 18 will equal an annual income of $95,328.00+

So, there you have it! If you spend 20 hours a month prospecting, you will make 100K plus and your worth $400 per hour! Know how much your worth per hour and put it to work for yourself! 

RR Nation, check out what's going with the market conditions in Las Vegas by watching today's Monday Markey Update! Your place to find out what trends are happening with supply & demand in our housing market!

Each week we deep dive into all the housing metrics at an insanely high level to help you be a real estate ninja with your clients, marketing and education. 

This week was a nice sign of relief as we had an increase in new inventory. A majority of it was gobbled up by the high buyer demand but the total inventory levels remained the same at .08 months supply and didn't take another dip. 

Find the full Zoom meeting below and take an hour to get up to speed everything you need to know about the housing inventory stats! 

Share this recording with viewers:
https://us02web.zoom.us/rec/share/nERl9-Z7H3maPbTQbhxYDcJp4Qa6sSbnIY01wEcqYuuDNqf3VsO-nXl7NBytY8yC.uyA8fEK8PcCQ7bcr 

Passcode: J%Qv8%Af 

Ea

RR Nation, 

The NEW SISU training module has just been recorded and added to ELEMENT for your viewing pleasure! 

In this training module taught by yours truly we cover the following:

SISU 101 Overview 

What is SISU and WHY do we use it

File Compliance Management 

Business Management 

Tracking Goals & Accountability

Growing your business 

Task & Property Management

AND MUCH MORE! 

Honestly, if you want to grow your business, track your goals, have accountability and be compliant with your transactions to avoid liability and fines then this is a MUST see training module.

Here is the link to access the training class in Element:

https://rrelement.com/courses/sisu-101/

Master your craft! 

Ea

RR Team Members, 

I wanted to send you a friendly reminder breaking down the commission disbursement process at Resolution Realty. 

If you want to know how to get paid then read this:

Step 1: The title company does not directly pay agents their commission at close of escrow. They send the commission check to our office in a closing package that contains the settlement statement. 

NOTE: this could take the title company a couple days depending on when they cut checks and send a runner to our office. 

Step 2: When Resolution Realty receives the check we process the deposit, upload your closing package into SISU and notify the broker your closing has come in. 

Then the broker reviews and audits your file to make sure that your transaction is compliant and not missing anything. If you are missing documents or notes in your transaction then you will not get paid and the process is on hold until your file is compliant. 

After the broker audits your compliant file a notification is sent to the accounting department to disburse your commission to your checking account. This process can take anywhere from 1-3 days depending on the above details. 

So, keep in mind that when your escrow closes it can take up to 5 days to get paid and if a weekend is involved then it may take longer. 

NOTE: Typically agents at our office are paid within 72 hours from close of escrow. 

If you feel like your commission check is taking awhile to hit your checking account or if you want to confirm that your closing package arrived at the office from the title company then send an email to: 

Director of First Impressions:

Celeen Vasquez

admin@resolutionrealtylv.com

Thank you,

Ehren

RR Nation! 

ERS has been a game changing coaching company that we partnered with at Resolution Realty. 

We've been working hard behind the scenes asking all of our agents to participate in the coaching platform and live classes to help you grow your business! 

In our pursuit to help you adopt the ERS coaching I've created a training module that goes over the What, Why, How and Now to make it easier than ever for you to take action and join your fellow agents achieving more success. 

Here is the link to Element's ERS training module:

https://rrelement.com/courses/elite-real-estate-systems-101/

Don't be basic! Participate in ERS's training and coaching platform to make you an Elite agent! 

Ea

Hey there, 

If your a new agent in the real estate industry whose closed less than 13 transactions then I highly recommend you watch this new training module I created in Element that covers how to work with sellers, buyers, lead generation and the basics. 

This is a high level boot camp overview that covers everything that you need to know about starting your career as a real estate agent. There are 14 topics for creating business, servicing business and working on your business. 

After you complete the course fill out the forms and discover your WHY! Then book a meeting with our Success Manager Annette Bixler to have a one on one meeting about how to take your career to the next level by utilizing our systems, training, support and accountability. 

Here is the link to the training module that you can view when you log into Element:

https://rrelement.com/courses/ers-new-agent-launch-plan/

To your success!

Ea

Justin Perry

Valerie Pro-Phiar 

Katrina Johnson