- The time to exit personal production is when your team is bringing in enough to cover your basic expenses.
- Divide your prospecting time into 90-minute blocks and focus on one lead source daily.
- Know your hourly net worth and outsource anything worth less.
In our latest episode, mega-agent Jeff Cohn joined us to share the prospecting systems and scripts his team is using to sell more than 500 homes this year
Jeff Cohn is the founder of Omaha’s Elite Real Estate Group, Nebraska’s no. 1 team, which has grown from 80 deals to 425 deals in just three years. It’s on pace to sell over 500 homes this year and to be one of the top teams at Berkshire Hathaway across the world.
In the first half of our live episode, Cohn broke down his prospecting system, which consisted of 90-minute blocks from five different lead sources: market update calls, value add calls to his sphere and past clients, expired listings, FSBO and just listed or just sold calls.
Rather than making multiple types of prospecting calls in the same day and spending time mentally adjusting and switching between calls, Cohn invested 90 minutes of focused time on one type of prospecting every morning.
Cohn then explained his mindset and attitude toward prospecting and how to block out distractions so you have laser focus during your prospecting sessions. Then we had fun role-playing through three types of calls with Cohn: old Internet lead follow-up, circle prospecting and expired listing.
We didn’t take it easy on Cohn in the role-playing, so it was a great insight into how a top agent handles tough prospecting calls and chooses the right value add as leverage to get the appointment.
Click here to jump to the role-playing portion of the video.
In the second half of the episode, Cohn shared the systems that allow his team to sell 500 homes a year. It starts with culture and accountability. Each agent is responsible for making 100 prospecting calls a week, and the team runs every lead through their CRM system to ensure agents are properly following up with every lead.
By charging broker fees on every transaction, Cohn is able to provide unique support staff roles such as client care coordinator, listing coordinator, buyer transaction coordinator, operations manager, success manager and even a sign runner.
“‘If you’ve given them enough value, they’ll stay with you forever. They can see that you care more about them than you do about yourself.” – Jeff Cohn
In fact, Cohn’s agents don’t install their own lockboxes, print their own listing flyers or even touch the paperwork once they have an accepted offer. This allows the agents to focus on prospecting, following up with leads, negotiating deals and maintaining great relationships with their clients to generate referrals.
Related article: Read “Jennifer Berman Holt on focusing on people and creating the ‘correct’ culture.”
Cohn went on to explain how team leaders must teach their agents to prospect from three buckets: their sphere, their prospecting efforts their Internet leads. This is one of the keys to retaining good agents over the long term.
Cohn also shared advanced concepts on lead generation, teams within his team, commission splits, how to retain agents over time by providing massive value and much more. If you’re currently building a team or have considered building a team, don’t miss this episode.
Click here for more information on Jeff and the systems behind his success.
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Matt Johnson is a marketing consultant and co-host of real estate podcasts and live video series such as Real Estate Uncensored and Lead Gen TV.