Dan Elam Contributes To RIS Media Podcast

Cleve Gaddis with Workman Success Systems interviews Dan Elam (Founder of Elam Real Estate) and Mariette F. Martinez, EA, ( financial accountant, IRS Enrolled Agent ) about their broker/agent business plans via the RISMedia Podcast.


Cleve to Dan:

"You look at your team differently. You don't look at it as 'I'm going to pull a group of people together and let them independently drive business for my team', you look at it really as a true partnership between your team and the brokerage where the brokerage is driving a good bit of what goes on." - Cleve Gaddis 12:48

"They (New Agents) get in the business and they don't know what to do" - Dan Elam 15:38

"Anything you're going to do more than once, you better have a system for it" - Dan Elam 

"I use a series of conversion ratios that we've established over the years. We take whatever their goal and break it down to the ridiculous... What do you need to be doing every single day?" - Dan Elam

"My brokerage is set up to appeal to newer agents, we do just the opposite of what most companies do." - Dan Elam 21:26

"My dials to conversation ratio for last year (2018) was 8.9% when I look at my younger agents. If I bring senior agents in that number goes up to around 20%." - Dan Elam 21:40

"How many Face to Faces do I need to have to get to a pending contract? That number (conversion ratio) for my newer agents last year (2018) was 23%. " - Dan Elam 22:37

"Lastly, what is the pending to closed ratio? We know they (pending contracts) fall out for all sorts of reasons. Last year (2018) we closed 76.4% on the day it was contracted." 23:00

"It sounds like you expect to connect with 1 in 10 people that they call. You expect them to convert 1 in 5 to agree to work with them, so if you called 100 people you expect them to talk to 10. If they talked with 10, you'd expect them to meet face to face with 2. Of those people, you expect them to put about 1 in 4 under contract and then you expect 3 in 4 of those to close." - Cleve Gaddis 24:20

Referring to new real estate agents:

"I go very heavily into the "why". Because my solopreneurs live very blended lives. I focus a lot on working parents. They're working to support their families and so we go very heavy on the why. That's where their passion comes in. Then we focus on the numbers. We translate that into everything Dan just said but we don't even get into the numbers. I want to go deep into their core and thier "why" first." - Mariette F. Martinez 27:03

"If you're rocking and rolling we aren't going to make you do that (referring to accountability meetings)" - Dan Elam 34:05

"I believe the reason people in the real estate industry average such low income is because they try to do everything themselves. I identified 42 major steps to have a successful real estate buyer sale but only 4 of them are the highest money producing activities. I want our agents focusing on the highest money generating activities. That's why we see our average agent makes 3x what the average agent makes in our market. That's my average agent. That's not my top agents. My top agents are way above." 45:14

"Who wants to figure out what the algorithms for Google PPC are this month? Whos out there evaluating lead sources? What’s the difference in branding and direct? Guess what? I have a department that does that all day every day. " - Dan Elam 48:21

"You've got to put yourself in an environment where you are skilling yourself up. If you don't, we live in such a fast paced industry, if you're not keeping up with what's going on I believe it's an unfair scenario for our consumer. I believe we are cheating our consumer if we don't learn. I don't want that. My name is on the front of the building." - Dan Elam 49:47

"Every day in my office there's going to be a learning opportunity available." - Dan Elam 52:18

"330 hours Marietta, how would you like to get 330 hours of training every year?" - Cleve Gaddis 53:47

"I would be very happy. That my life's mission is to educate" - Mariette F. Martinez 53:55

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