June 2022 OKR Meeting Notes

Jun 07, 2022

1) Community Vendor: Sharon Barney w/ Fairway Mortgage

2) Announcements:

• Welcome, Lauren Salazar!
• Welcome, Shelby Sievers!
• Welcome, Annette Patterson!
• Jeremy broke $10M in annual production!
• The McGuire Team broke $40M in annual production!

4) OKRs (May)

Leading Indicators (FUB Leaderboard)

• 207 Conversations w/ 1 Day & 7 Hours of Talk Time
• 977 Text Messages
• 133,952 Emails
• Top Talker = Jeremy w/ 2 hrs 33 min of talk time!
• Top Texter = Jeremy w/ 163 text messages (Tyson was right behind with 162!)
• ***We are in the early stages of building a leaderboard that will incorporate Client Portal searches created***

• We closed $41.99M & 47 units. This is a +20.1% increase in dollar volume and a -14.5% decrease in units.
• We contracted $37.9M & 51 units. This is a +32% increase in dollar volume and a -2% decrease in units.
• We are at $263.6M YTD for contracted/closed units. This is a +46% increase year to date!
• We had 97% lead duty coverage!

1. Kasey = $15.3M
2. Jeremy = $3.1M
3. Lauren = $2.4M
4. Rob = $1.9M
5. Craig = $1.8M
6. Linda = $1.7M
7. Ann = $1.7M
8. Vicki = $1.6M
9. Bailey = $1.5M
10. Katie = $1.5M
11. Tara = $1.2M
12. Drew = $1.1M

1. Tara = $7.1M
2. Jeremy = $4.3M
3. Linda = $3.8M
4. Bailey = $3.3M
5. Shaun = $1.9M
6. Philip = $1.8M
7. Ashley = $1.7M
8. Erin = $1.7M
9. Craig = $1.4M
10. Crystal = $1.3M
11. Morgan = $1.1M
12. Drew = $1.1M
13. Will = $1M

• There's no question that the market is slowing. First Look Stats for May 11.5% fewer units sold YOY and that is going to get slower. We will likely see the market down 15-20% in units sold this year.
• This will be the first time most of us will have seen a down market. Listings will take longer to sell and leads will be down. There's nothing anyone can do to make listings sell faster or to increase lead flow.
• What can we do? Stay productive and prove value first. People you talk to who show any interest in potentially buying or selling will likely do so in the next 12 months. The #1 value you can show them is to set up Client Portal updates for buyers and sellers. This gives you a reason to follow up with these potential buyers and sellers using the Daily FU.
• Your #1 goal over the next 6 months is to set up as many Client Portal searches as you can and to FU with those folks using your Daily FU.
• When markets shift, there's always opportunity. Many agents sit on their hands and think negatively. Things are hard, not much is closing, so why work hard? What can you do? Agents who take the opposite approach; those who choose to stay positive and work consistently gain a ton of market share. This is 100% the time to work hard, finish this year as strong as you can, and tee yourself up for an amazing 2023.
• As a company, we are increasing our staff and our spend on development. While our competitors cut costs, we're going to come out of this positioned with the best tools and support for our agents of any brokerage in Austin. Literally.

We're putting a ton of resources into the Client Portal. We've 100% feature matched Matrix's portal and we've now surpassed it. Here are the features that our proprietary CP has that Matrix does not:

• Clients are subscribed immediately. There is no need for them to click on a link to activate a search.
• Email open tracking. Matrix only tracks web visits. We track email opens + visits. We've learned that many users never clickthrough on emails, but are heavily engaged with our emails. (These users would be lost to Matrix.)
• Client property viewing history. Matrix only tracks client favorites. We track favorites + their property view history. We've learned that most users view properties without favoriting. You would never know about these users with Matrix.
• Deep FUB Integration. You now have one system to manage your clients, rather than two. Your FUB Smart Lists are now smarter. You now have deep insight into your clients' behavior.
• Opportunity for Innovation. We're already roadmapping some really cool features like "automatic sold comps" for properties. We want to hear about all of your ideas to improve this amazing tool.

• When on Lead Duty, it's now required that you set up Expert Searches through the Portal as soon as you hang up. You've already time blocked this for work, so there's no reason to put off the searches.
• Move your engaged clients away from the Matrix Portal and put them on our Client Portal. You'll immediately gain insights you didn't have before.
• Set as many people up on Client Portal Searches as you possibly can. Homeowners get Seller Updates and buyers get Buyer Updates. The more of these you set up, the more success you'll find. A lead is in your pipeline only if they have searches set up.

• Lots and lots of support for the Client Portal. We will have round tables until people stop showing up. :)
• Lots and lots of emphasis on the Client Portal. We will track how many searches everyone sets up and this will be a huge component of our Scoreboard.
• Lots and lots of innovation! Client searches are a critical part of your job; Arguably the most important tool you have in your arsenal. You already have a better tool than any other agent in Austin and we will continue to make it even better!
• Lots and lots of success stories about the Client Portal!

• Support, support, support! Bailey, Marelise, Shelby, and I are deep into support systems. You guys know about [email protected]. Adding that makes it easier for you, but it also allows us to better collaborate on and organize Company Guide improvements. We already have the best knowledge base in the business and we're only going to make this better. A great knowledge base only works when you can find the info, though, so we're putting as much emphasis on the CG Search as we are the content.
• Service Standardization & Reliability. We know that you guys find classes and round tables valuable. We know that you find social media content valuable. We're in the process of adding our services to a calendar with different staff "owners" to make sure they're delivered reliably.
• Monthly Recurring FUB Round Tables: We've set up a recurring 1 hour training session w/ our account rep at FUB. The first meeting is next Wednesday. This is for you guys to ask any questions you'd like.
• Marketing. Our marketing budget is roughly 50% higher than it was at this point last year and our leads are down. Why aren't we cutting? Because we're still learning from this increased spend. When the market turns back up, we'll be poised to take the most market share.
• Scoreboard. "People and teams play differently when they are keeping score, and the right kind of scoreboards motivate the players to win." (4 Disciplines of Execution) We hit an accidental home run years ago when released the RealScale home page Leaderboard. The RS Leaderboard shows our lagging indicators of contracts and closings. We've been playing with Leading Indicators (calls, texts, and emails) for the past year, but we haven't gotten it right b/c we don't have the engagement we do with RealScale. We're tinkering with another, in house Leading Indicator Scoreboard that will combine Client Portal Searches, text messages, and phone calls.
• Smart Growth. You guys can all see that we're growing. Now that the market is shifting, there will be even more opportunity for growth. We remain committed to growing the right way and to growing intelligently. The hardest part about getting bigger is maintaining quality. We recognize this and won't compromise quality for growth.
• July 12 OKR Meeting. We have a big announcement we'll make on July 12. The meeting will likely be at ABOR. I hope everyone can make it!