Rachel Adams Lee has catapulted herself from a top-producing agent to a team leader and coach, becoming a Top 100 agent for Keller Williams within three years of starting her career. “One thing that always stands out for people is I started my business door-knocking — 200 doors a week — and hosting three open houses a week,” she explained. “I initially got into real estate to help others achieve the American Dream of homeownership … and then I realized if I had a team of people, we could help so many more.”
Adams Lee is going to be talking about her journey in a panel discussion about how she built her business at Inman Connect New York, January 29 through February 1 at the Marriott Marquis Times Square. She gave us a rundown about how she kills it on social media and what her priorities are for 2019.
Tell us a little more about your session. How will it address how the industry can embrace the shifting market?
First, the industry needs to address what they’re spending their money on — check their profit and loss and get a return on their investment and trimming the fat. Two, getting clarity on what their lead generation legs are — the way that leads come into their business. We have a lot of people who decide, “I’m going to door-knock and do open houses and maybe work with investors,” so we get clarity around four legs of your business where leads come in, and then we build in a game plan for daily, weekly, monthly and yearly activities for those leads, even as simple as what time you’re going to wake up in the morning, and what days will you take off. And the good thing about being on a team that’s ahead of the game is we’ve already been doing the things you need to do to prepare for a shifting market because that’s just how we operate.
What do you think are the biggest opportunities to focus on in the real estate industry right now?
I think one of the biggest things is, with all the different discount brokers out there and so many competitors saying their split is better, making sure where you’re at is a culture fit for the person you want to become. It’s not about who we are now, it’s about who you want to become, and making sure you’re surrounded by the right people with the right mindset — because the market is shifting, and if everyone around you is like “we’re screwed,” then you’re screwed. So make sure you’re in alignment with the people around you — do they have a scarcity mindset or an abundance mindset?
Last year we sold 64 houses through Facebook and this year it’s more than 107 through Facebook and Instagram. If you follow someone who you expected to motivate you and instead you’re feeling judged, you delete or unfollow them immediately. Anyone who makes you question your worth doesn’t belong in your life anymore. In real estate there are a lot of people who you see slaying it on social media but in reality they’re at a 10 percent profit, so it’s also smart to get really good clarity on your goals and your numbers.
To stay competitive, agents, brokers and companies need to execute quickly. What do you feel are key areas where quick execution can vastly improve the customer experience?
One of the biggest reasons that people have issues in transactions is they don’t set the expectation. One thing that changed our business is we have a two-part conversation: This is what’s happening now and this is what’s happening next. After we have a phone conversation, I follow it up with an email so there’s a paper trail. It sounds really simple but that takes away your weekend calls and your 9 p.m. calls. When you properly set the expectation for your clients, they know what’s happening and can take a deep breath because they can tell you are a professional. I found that’s really important.
We also do something called Tuesday Update Day; in a listing or buyer presentation, I always tell them about it and say “every Tuesday, you’re going to hear from me about what’s going on with your home — how many people went through, positive and negative feedback.” That’s the game-changer.
What are your hopes for the next 12 months, and what will you be working on?
Our plan is to do 200 units, and we’d like to grow the team — right now we have six agents and we’d like to grow the team to 10, and I’d like to start writing my second book. And I’ll be a keynote speaker in South Africa, so that’ll be really fun.
Discover the opportunities in a changing market at Inman Connect New York, January 29 – February 1. Jumpstart 2019 with tactical takeaways, unlimited networking and thought-provoking speakers. Learn more.
Thinking about bringing your team? You may qualify for special group perks! Contact us to learn more.