S3 E3: Working a 3 day week + Neighborhood strategies
Meet Mega Agent Kathy Welch from Omaha, NE. Kathy decided that she had too many things she wants to do in her life. She compressed her real estate into a 3 day week to produce a quarter-million in income while she has fun with local politics as well as property development. Listen to her time management strategies. Additionally, she strikes gold by doing Circle Prospecting. She shares those strategies.
Ren Jones (00:00):
Welcome to Roadmap: How to Take Three Listings a Week Until You’re Ready for More.
Each week we interview an agent who is consistently taking several listings each month, and we have an exciting guest today. We encourage you to take notes and apply as much of their knowledge as quickly as you can, and then use the copy-cat principle.
If you’re watching on Vulcan7 or the Lead Gen Facebook Group, you’ll have an opportunity to ask questions during the broadcast. Get those questions in early folks.
Yeah. Let me introduce my co-host from San Diego, Carley Hathaway, carleyhathaway.com, in San Diego. How’s the real estate business, Carley?
Carley Hathaway (00:40):
Hi Ren. The real estate business is booming, as always. I think everyone would love to live in California, so it’s going really good.
Ren Jones (00:49):
Send them down, right?
Carley Hathaway (00:51):
Yep, send them down. Send them my way. If you guys want vacation homes, second homes, or they just want to retire in San Diego, send them my way.
Ren Jones (00:57):
Good deal. Good deal. All righty. So we’ve got a special show. Before I introduce our guest today, it’s a special show. We’re going to talk about time management in a big way. It’s the number-one problem with real estate people, working seven days a week.
Carley Hathaway (01:11):
Ren Jones (01:11):
Ah, seven days a week. And calling around neighborhoods, circle prospecting, some of the best practices and some great thoughts there.
So before I introduce our guest I want to remind everyone we are simulcasting the show as well on the private Lead Gen Group on Facebook. They have 49,632 members, so we have a large audience there today as well. And we’ll be pausing for a commercial message during the show as a thank-you to the Lead Gen folks.
So let’s welcome our guest today from Omaha, Nebraska. Omaha. Kathy Welch. Welcome Kathy.
Kathy Welch (01:50):
Hi, Ren. Hi, Carley.
Carley Hathaway (01:51):
Hi, Kathy. Thanks so much for being here today.
Kathy Welch (01:53):
Thank you. It’s my honor and my privilege, thank you.
Ren Jones (01:56):
So if somebody wants to move to Omaha or move out of Omaha, how do they reach you?
Kathy Welch (02:02):
Well, the phone number is 402-
Ren Jones (02:05):
Oops, she drops out.
Kathy Welch (02:06):
Ren Jones (02:09):
Kathy Welch (02:11):
… 4840, that’s my office number.
Ren Jones (02:14):
Kathy Welch (02:15):
And the email is Kathy, K-A-T-H-Y W-E-L-C-H @kw.com. KW stands for Kathy Welch, not Keller Williams.
Ren Jones (02:28):
Oh, oh. KW, KW. Oh, it does, huh?
Carley Hathaway (02:29):
It’s a competing KW, I think.
Ren Jones (02:31):
Gotcha. KW and KW. Kathy Welch, W-E-L-C-H.
Kathy Welch (02:37):
Ren Jones (02:37):
@kw.com. And what does that say on your wall? Make one more call.
Kathy Welch (02:41):
One more. One more call.
Ren Jones (02:43):
Do you… Oh, somebody that prospects. And you’ve been doing-
Carley Hathaway (02:45):
One more call.
Ren Jones (02:46):
… You’ve been prospecting a long time.
Kathy Welch (02:50):
I have. I got into real estate about eight years ago, and I met Mike Ferry 25 years ago and started… What I call Mike is one of the few people that have actually changed the course of my life. One of the most influential people in my life.
Carley Hathaway (03:06):
Ren Jones (03:07):
Okay. So it’s fair to say that Mike Ferry coaching.
Kathy Welch (03:10):
Ren Jones (03:10):
Well good. All right. Well that’s quite a testimony. I know he’ll be glad. And then you’ve taken a little turn here, you’ve decided to only produce three days a week, is that right?
Kathy Welch (03:23):
Ren Jones (03:24):
So what are you doing with the rest of your time?
Kathy Welch (03:26):
Well, last year I was influenced by some people in my town to throw my name into the political arena for the city council of my town.
And my coach and I sat down and said, what are we going to do to make this calendar work? Cause I’m either going to have to campaign and win, because I wasn’t going to throw my name in the hat just for fun. I was… the competitive nature was kicking in. And so I threw my name in working three days a week, Monday, Tuesday, Wednesday we’re in production. And I thought, okay, I’m going to campaign Thursday, Friday, Saturday, Sunday. And lo and behold, I don’t have any competition. So either, there was a memo that went out that said, this is the dumbest idea anybody could ever do, and I didn’t get the memo.
Ren Jones (04:16):
Well, you have a lot of experience with yard signs.
Kathy Welch (04:20):
I do. I do. Or I intimidated my competition, and either way, I’m okay with it. So I’m in production on Monday, Tuesdays and Wednesdays.
Ren Jones (04:29):
Well, those could go well because people say, I see your signs everywhere.
Kathy Welch (04:33):
Ren Jones (04:33):
Now they’ll really see your signs everywhere.
Kathy Welch (04:34):
Ren Jones (04:36):
At least until the election.
Carley Hathaway (04:37):
You’re famous now.
Kathy Welch (04:38):
You know what, when I’m circle prospecting, I’ll get somebody and they’ll say, “No, I’m not interested in selling my house.” And I’ll say, “Well, where do you live?” And they’ll say, “Oh, I live on such and such an area.” And I go, “Oh, by the way, I’m running for city council.”
Carley Hathaway (04:53):
Kathy Welch (04:56):
… look forward to it.
Ren Jones (04:59):
Very good. You’re selling more than one thing.
Kathy Welch (05:01):
Carley Hathaway (05:01):
Ren Jones (05:03):
So if you’re doing three days a week production. What’s the goal for this year?
Kathy Welch (05:07):
The goal is 60 deals.
Ren Jones (05:09):
60 deals. What was the best year you ever did?
Kathy Welch (05:12):
Ren Jones (05:13):
And that, that’s a lot of money in Omaha, Nebraska.
Kathy Welch (05:17):
It is. Yeah.
Carley Hathaway (05:17):
Good for you.
Ren Jones (05:18):
113 transactions. That is fantastic.
Kathy Welch (05:19):
Ren Jones (05:19):
Kathy Welch (05:22):
60 deals is a lot of money in Omaha.
Ren Jones (05:24):
That 60 transactions, it’s a happy life working part-time.
Kathy Welch (05:29):
Carley Hathaway (05:29):
Ren Jones (05:30):
How do you compress it down to three days a week because most real estate agents, they would love to make a quarter million a year working Monday, Tuesday, and Wednesday. How do you do that? Don’t you have to work Saturdays and Sundays forever? Isn’t that the rule?
Kathy Welch (05:44):
No. No. No. Because Cause what happens is when I’m… On Sunday nights, I’m looking at, okay, I got to Monday, Tuesday, Wednesday is my production day. So based on the calendar, it’s get, I need to do 22 contacts a day. And so that’s Monday, Tuesday, Wednesday. And then if I need to do city council stuff, I’m also renovating a house to move into, to be back in my district for city council.
Ren Jones (06:11):
You got a renovation going on too, on top of all this?
Kathy Welch (06:13):
I do. Yeah.
Ren Jones (06:14):
Oh my gosh.
Kathy Welch (06:15):
So then that all gets done on Thursday, Friday, Saturday, and Sunday. So if the contractor says, “I need to meet you on Monday.” “No, I can meet you on Thursday. I can meet you on Friday.”
Carley Hathaway (06:26):
Good. So you stay really strict with your schedule. That’s the only way to really make it work.
Kathy Welch (06:30):
I do. I do.
Carley Hathaway (06:30):
Kathy Welch (06:31):
And if there’s something that comes up that maybe I’m not feeling well on a Monday, then I say, “Okay, looks like we’re working on Friday this week.”
Ren Jones (06:42):
All right. So you can move those three days around, so-
Kathy Welch (06:45):
Ren Jones (06:47):
And there are people out there that are watching, they’re like, real estate is my life. And could you actually have a life, your part-time quarter million dollars a year feeds your lifestyle-
Kathy Welch (07:00):
Ren Jones (07:00):
… Of having a lot of fun five days a week.
Kathy Welch (07:02):
Ren Jones (07:02):
Kathy Welch (07:03):
And you know, Ren, prior to getting involved with the campaign program, I was working Monday, Tuesday, Wednesdays, I took Thursdays off. I was real strict about that. Cause that was the day I could go work out, go to the dentist, get my nails done, get my hair and all that kind of stuff, and then work Fridays and Saturdays and take Sundays off. And that worked phenomenal. But I got a little loose goosey in the calendar because it’s like, well, I don’t get it done on Wednesday. I’ll get it done on Friday. But now it’s gotten tighter to, let’s just get it done because the weeks that I get it done on Monday, Tuesday, Wednesday and I enjoy my time off on Thursday, Friday, Saturday and Sunday.
Carley Hathaway (07:46):
You’re not feeling guilty that you didn’t get what you needed done.
Kathy Welch (07:48):
Carley Hathaway (07:49):
So you can actually appreciate those days off.
Kathy Welch (07:51):
Carley Hathaway (07:51):
Kathy Welch (07:52):
And last week I didn’t get it done on Wednesday and I said, okay, we’re going to work on Saturday. It was a focused effort and made, I sold a house and I’ve got two more buyers that are interested in that area. So I was circle prospecting on Saturday and on my 30th call, got an appointment from somebody that wants to move.
Carley Hathaway (08:14):
There you go. Perfect. So you back it up.
Ren Jones (08:17):
So very highly efficient to do those 60 deals in three days a week you’re back because they’re agents that don’t do 60 deals, they don’t do 30 deals, and they’re working every day of the week. So there’s high level of efficiency. So what’s your batting average listing appointments to listings taken? What is that percentage
Kathy Welch (08:31):
We’re running right now at about 80%.
Ren Jones (08:31):
Carley Hathaway (08:31):
Ren Jones (08:31):
Four out of five. Okay.
Kathy Welch (08:31):
Ren Jones (08:36):
Perfect. And then on the buyer side, do you take them out five times and show them 82 homes? Or do you take them? What do you do?
Kathy Welch (08:43):
No, the buyers that I work with are either homeless sellers-
Ren Jones (08:48):
Kathy Welch (08:48):
… So they have to find something or a high level referral. So if somebody from this group called me and said, “Hey, I have a buyer that wants to buy a house.” We’re looking at qualifying them, making sure they’re pre-approved, making sure they’re ready to buy and start to narrow the parameters of what it is that they’re looking for.
Carley Hathaway (09:12):
Good. Good. So can we circle back a little bit? So you’re getting all this done in three days. Three days a week, you’re doing all your prospecting. Can you walk us through your daily schedule of prospecting? From what time you up? From what time you get on the phones, role play, all of it?
Kathy Welch (09:27):
Well, and one of the things is my plan is to do my role play at 8:30. Does it always get done? No. I’m human. Sometimes it doesn’t happen. My plan is to start on… I loved Money Mondays.
Carley Hathaway (09:41):
Kathy Welch (09:43):
… So those, I have no appointments. It’s let’s hit it and just call as much as you can. And if I can get 66 contacts done on Monday, the rest of it is a bonus.
Carley Hathaway (09:56):
Kathy Welch (09:56):
So calling from 9 to 1: 30, if that doesn’t get done, then it’s okay, we’re going to make the calls in the afternoon and it’s through your dialer. I can get 20, 25, 30 calls done in an hour, two hours.
Carley Hathaway (10:15):
With the Vulcan? With the Vulcan dialer.
Kathy Welch (10:17):
Carley Hathaway (10:17):
Ren Jones (10:18):
And then you’re going down an interesting avenue too. You were telling me I saw you a month ago.
Kathy Welch (10:26):
Ren Jones (10:26):
And you were telling me how you were dialing through Neighborhoods using Cole, which is in our system. And you were also using competing, we’ll call it Brand X.
Kathy Welch (10:37):
Ren Jones (10:38):
You were using red Brand X and their neighborhood system and then you tried ours.
Kathy Welch (10:46):
Correct. And so I had one neighborhood that I have two buyers that want to live in, specifically. Even in my neighborhood, it’s a townhome community. And I’m dialing and I’m getting wrong numbers, number’s been disconnected. I mean, it was very frustrating. And when you and I talked, you said, “Well, why don’t you try our Neighborhood?” So I downloaded that and it’s amazing the people that I’m talking to that I’ve never talked to, I thought I was going to have to get out and go door to door or to finally meet these people because there was one specific person that I could not find her phone number. And your system had her in there.
Carley Hathaway (11:23):
That’s Great. Yeah. So can you talk-
Ren Jones (11:24):
Yeah. We have-
Carley Hathaway (11:24):
… can you just explain a little bit about-
Ren Jones (11:26):
… you know, it costs twice as much money as Brand X or Cole. But so you’re saying, but it’s worth it. You’re getting, because you’re able to get in a lot more conversations if I understand correct.
Kathy Welch (11:37):
Well, and when you know guys first started Vulcan, I came up to you and I had a guy that said to me, I called all the numbers across the top and the guy calls me back and said, “Kathy, would you not call my dad? Would you not call my brother, not call my uncle. Would you please call me to talk about my house?” So I knew Vulcan was working at that point.
Carley Hathaway (11:59):
Yeah, it definitely does.
Ren Jones (12:00):
Anyway, so by the way, this was a commercial for the Vulcan, the new Vulcan7 Neighborhood Search-
Carley Hathaway (12:03):
Ren Jones (12:05):
… That’s on there that we now sell as a premium version of Neighborhood Search.
Kathy Welch (12:09):
Ren Jones (12:10):
If any of you that’d like to try it out, try it out. That’s the commercial. Okay, go ahead. Go ahead Carley.
Carley Hathaway (12:15):
Ren Jones (12:18):
I didn’t want to miss that opportunity.
Carley Hathaway (12:19):
Of course not.
Well, it’s good. If it’s going to help people, why not talk about it. Right?
So Kathy, when you say neighborhood calling, so basically you have a buyer that wants to be in a specific neighborhood. So you’re getting phone numbers through Vulcan. What are you saying to these people? These are people that, they’re not expired, they’re not FSBOs, they’re not even selling their homes. So what are you calling and telling them?
Kathy Welch (12:39):
So Carley, what I would do is I would call them, so let’s do a little role play. Okay?
Carley Hathaway (12:42):
Kathy Welch (12:43):
So the phone rings and you say…
Carley Hathaway (12:45):
Kathy Welch (12:45):
Hi, it’s Kathy Welch with Keller Williams Real Estate.
I’m calling cause I really need your help.
Carley Hathaway (12:52):
Oh, okay. Sure.
Kathy Welch (12:54):
I have a pre-approved buyer that wants to live in your neighborhood. Are you interested in getting your home sold at this time?
Carley Hathaway (13:00):
No. No, we’re not. We’re not selling our home.
Kathy Welch (13:02):
And you know what, I appreciate you thinking about that. Well, what about your neighbors? Anyone that in your neighborhood that’s thinking about selling their house and just hasn’t done anything as of yet?
Carley Hathaway (13:12):
I mean, not that I know of.
Kathy Welch (13:14):
Okay. You know what, I appreciate your time. I appreciate you answering my calls. Have a phenomenal Tuesday. Thank you.
Carley Hathaway (13:21):
Kathy Welch (13:21):
And I’ll tell you Carley, when I made a connection, they are thanking me for the call.
Carley Hathaway (13:25):
Say that one more time. You cut out. When you make a connection?
Kathy Welch (13:29):
When I make a connection with them, they’re thanking me when I have called.
Carley Hathaway (13:33):
Kathy Welch (13:33):
And you know, get the ones that are like, what do you want? And you just say, “I really need your help.” And sometimes I go right into it to say it. Sometimes I give a little pause like I did with you because it gets their attention because I do need their help
Carley Hathaway (13:48):
Kathy Welch (13:50):
Or sometimes what I’ve done is to say, “I’ve got a buyer. Her name is Julie.” And right now, on Saturday when I was calling, I was saying, “I have a school teacher in your town that wants to live in your town. Are you interested in getting your home sold? Are you interested in selling your house?” And people will say, “Well, not right now.” And I’ll say, “Okay, anytime this year?” And you just start asking some more questions. And one gentleman said to me, “Yeah, I think I’m going to be selling it,” on the phone. We scheduled an appointment for Thursday.
Carley Hathaway (14:22):
Ren Jones (14:22):
I understand from what you said that you’re doing a lot of double sides and having no competition on the listing on these things.
Kathy Welch (14:30):
Ren Jones (14:30):
So you get double… You get 6%.
Kathy Welch (14:34):
Ren Jones (14:35):
Kathy Welch (14:36):
And I will tell you Ren, that even if I get a wrong number, I was calling an area and I got a wrong number and the guy said, “No, I’m not thinking about selling my home yet.” And I said, “Okay, I appreciate this. How about if I send you my card?” And I send a note that says, “Thank you for your time on the phone today. Call me when you’re ready to sell.” He called me last week. We listed his house. He didn’t list it with the agent he bought it from, he didn’t list it with his fiance’s agent. He listed it with me because I called him.
Ren Jones (15:10):
Carley Hathaway (15:10):
That’s wonderful. You have nothing to lose by calling.
Kathy Welch (15:12):
Ren Jones (15:13):
You should just do random dialing then.
Kathy Welch (15:15):
Carley Hathaway (15:16):
And what I can tell from when you’re calling, you have such a positive attitude and you can hear your smile through the phone.
Ren Jones (15:24):
She got the energy.
Carley Hathaway (15:25):
Ren Jones (15:25):
She got the energy.
Carley Hathaway (15:26):
So speaking of that, can we discuss mindset a little bit?
Kathy Welch (15:30):
Absolutely. Absolutely. Carley, that is something I work on all the time because there’s days I just don’t have it. I just don’t have it. And what I’ll do is I’ll pull up you guys to listen to a great interview. I’ll pull up Mike Ferry TV. I’ll pull up just anything that I can get to help change my attitude. I have a mastermind group that we have a book every month. If I go and see another agent. Last weekend I was in Kansas City and one of my friends said that she was listening to this great book and I downloaded it and listened to it on Audible all the way back up. And it’s one of those that you’re listening to and you’re like, I don’t want to share this book with anybody in my office. Because I don’t want to let them getting the secrets, you know?
Carley Hathaway (16:19):
Because it’s so good.
Kathy Welch (16:24):
And then I have a little group of eight agents that I train and we have a book that we share. So the mindset, I’m always working on it. I have a group of five women that were accountability partners that once we do Carley is it’s called the 555. So we do five gratitude, five affirmations and five intentions. And we write those. And as soon as we’ve done it, we send a text that says done. And so if you haven’t done it that day, you get the text from somebody else that says done. And you’re like, oh, I haven’t done mine today.
Carley Hathaway (16:58):
Kathy Welch (16:59):
Yeah. So it definitely, definitely helps.
Carley Hathaway (17:01):
Yeah, I agree with you. And you can tell because you have such a positive attitude and that’s the attitude you bring across through every phone call.
Kathy Welch (17:08):
Well, and I think too, it’s a sincerity because I really do have a buyer that wants to live in your town. I have a buyer that wants to live in your neighborhood. I had an offer and had two more offers on the house, so these people didn’t get the house. And are you thinking about… I’ve got two sad families that want to live in your neighborhood? Are you interested in selling?
Carley Hathaway (17:29):
Ren Jones (17:30):
And the head rate on that goes so high. If you truly have somebody that wants to live in a neighborhood. And there’s a lot of that going on now because they would like to buy something, but there’s nothing for sale. And you call through that neighborhood and you’re very specific with the call. The yield on that is so high. You talk to 100 people, you’re going to put up one or you’re going to find one or two or three people that are open to putting together a deal. So it works.
Kathy Welch (17:52):
Ren Jones (17:52):
It works well.
Kathy Welch (17:54):
Yeah. And I did not believe in circle calling for a while because I’m a hard prospector. It’s expireds. I mean, I loved the down market because man, there was a lot of people out there that you could help because you were doing something that nobody else does. And that was calling, looking for a buyer. So most of mine was past clients, centers of influence and expireds. And with the expired market not really there as much, my coach, as well as Mike says, “Call around. Do it. Build the circle.” And I’m thinking, okay. Well okay, I’ll give it a try. Lo and behold this stuff works.
Carley Hathaway (18:37):
It actually works.
Ren Jones (18:39):
It totally does.
Kathy Welch (18:41):
Ren Jones (18:42):
Sounds like a lot of fun. But what works is, because every time I see her, she has a smile and she’s excited to tell you about something. Energy and enthusiasm. You can say all the wrong words and if you’ve got that energy and enthusiasm, it just pulls them through the phone.
Kathy Welch (18:58):
Exactly. The other thing that I’ve used, because I’ve been with Vulcan for, I think I looked back six years, I have old expireds. So now I’m going through that list of people and if I get disconnected numbers or you’ve reached the wrong number, I’m cleaning out my files and I picked up two sellers from that, that are ready to put their house on the market because they couldn’t get them sold in 2012.
Carley Hathaway (19:28):
Kathy Welch (19:29):
And do you think I have any competition? I don’t think so.
Carley Hathaway (19:34):
Ren Jones (19:34):
Carley Hathaway (19:34):
So yeah, I think old expireds are good
Ren Jones (19:35):
And old expireds are friendly.
Carley Hathaway (19:38):
Kathy Welch (19:38):
Yes they are.
Carley Hathaway (19:39):
They’re very nice.
So what is the most important, when you’re calling, and I’m sure I ask everyone this, but who are the first people that you’re calling when you get on the phones at 8:30 or 9? Whenever I’m sorry, I forgot. But-
Kathy Welch (19:51):
That’s okay. Typically, obviously I’m going to call the new expireds just to see if there’s anybody, because it’s crazy that there would even be an expired listing in this market. To me that doesn’t even make any sense.
Ren Jones (20:07):
Nobody over prices.
Kathy Welch (20:10):
Yeah, exactly. And so one of the things that I’ll do is I’ll set up a date that I’m going to call around for this particular buyer. I might have a day. I also have called into some probates. Kind of depends on where it is. Carly, I got to tell you, sometimes it just depends on my energy level. Cause if I’m coming in and I felt like I’m pretty beat up, I’m not really excited about calling expireds, I’ll call some past clients and then go right into the circle calling.
Carley Hathaway (20:41):
Yeah. Okay. And circle calling seems like it’s a good way for you to produce business?
Kathy Welch (20:47):
Carley Hathaway (20:48):
Okay, good, good. And I’m sorry again, how many contacts do you try to hit a day?
Kathy Welch (20:52):
Carley Hathaway (20:53):
22 a day. Okay. And do you have a goal of how many listing appointments or things like that?
Kathy Welch (20:57):
We’re going to go on, let’s see, it looks like we’re going to go on 60 listing appointments, take 48 and then have 15 buyers.
Carley Hathaway (21:10):
Kathy Welch (21:10):
And it’s not that I’m looking for buyers, but in business 28 years and the people that I make homeless, they becomes, they become the buyers.
Carley Hathaway (21:23):
Ren Jones (21:24):
So let’s go for a couple questions.
Kathy Welch (21:27):
Ren Jones (21:27):
I’ve got two questions right out of the gate and hopefully everybody will start typing in questions. Whether you’re watching on Facebook or on the Vulcan7 network, Flip Fennel wants to know, how do you choose your homes for Circle prospecting? Do you have a system?
Kathy Welch (21:46):
No, I don’t have a system. An example again, so let’s say I sold the house on 41st Street. Okay. I’m going to call probably a two-mile radius and just say, “I got three offers on this house, we’ve got two families that still want to live in your neighborhood. Are you interested in selling?”
Ren Jones (22:10):
Fair enough. So-
Carley Hathaway (22:10):
I like it.
Ren Jones (22:11):
… When you sell one you call. Right? And then whenever you have a hot buyer for a neighborhood you call from there.
Kathy Welch (22:15):
Ren Jones (22:15):
Kathy Welch (22:16):
Correct. So I’ve got-
Ren Jones (22:16):
Kathy Welch (22:17):
… I’ve got little buyers right now, and getting them narrowed as to what it is that they’re looking for becomes a little bit of a challenge because they’re both first time home buyers and the houses, I swear they’re like San Diego. They are… They’re putting them on the market at 147.5, and they’re selling them for 160 with no appraisals. So it’s a little crazy.
Ren Jones (22:44):
Kathy Welch (22:44):
So that’s another benefit that I have. If I’m circle calling, I can get my buyers into that house before anybody else sees it.
Ren Jones (22:52):
Carley Hathaway (22:52):
Right. And that’s a commodity that people are looking for in their agent. Right? Definitely.
Kathy Welch (22:59):
Carley Hathaway (23:00):
Someone’s asking about your team structure. Do you have a team or-
Kathy Welch (23:04):
I have one office manager who’s phenomenal. That’s it.
Carley Hathaway (23:08):
Ren Jones (23:10):
Okay, perfect. And then you handle everything else. Perfect. And then I guess contacts, leads to appointments to listings. So we know your listing appointments to listings taken is 80%. Do you know leads to appointments or contacts to leads to appointments? Do you have the that?
Kathy Welch (23:29):
Looks like contacts per listing appointments is running right around 56.
Ren Jones (23:33):
So for every 56 people you speak to have a listing appointment set.
Kathy Welch (23:38):
Ren Jones (23:38):
Or that you go on.
Kathy Welch (23:42):
Ren Jones (23:42):
56, you go on an appointment. Perfect. Douglas Jennings, I’m going to answer his, my wife and I work together. How can we both use Vulcan at the same time? Well, guess what? If you have a Vulcan7 account, you get two logins and can both dial at the same time. It comes with the product. So just call customer support, give them your second login. You’re off to the races, Doug.
I like that.
Let’s see. There was another one.
Carley Hathaway (24:11):
Kathy, I have a question for you.
Ren Jones (24:12):
Carley Hathaway (24:14):
So you probably have a really big sphere of influence that you’ve been doing this for such a long time. How often do you touch them? How do you reach out to them? What’s your process around that?
Kathy Welch (24:26):
Well, Carley, not often enough. So they’re getting a mailer four times a year. And then just going through, and Raymond and I were talking about it that when we saw each other, that there’s an opportunity for me to be able to get better phone numbers and emails through Vulcan. So I feel like that’s going to be something that we’re going to do and just improve that.
Carley Hathaway (24:54):
Kathy Welch (24:55):
But it’s sometimes it’s you go to an event and they happen to be there or you see them in the grocery store. Or as an example, I was talking to some friends this weekend and they said, “Oh, so-and-so’s house is going to be on the market.” So I reached out to the daughter through Facebook and said, “How can I interview for the job of selling your parents’ house?” Then the son called me and I said, “Can I interview for the job of selling your parents’ house?” And I have an appointment with them on Friday.
Carley Hathaway (25:23):
Kathy Welch (25:24):
No, Saturday. Saturday Morning.
Carley Hathaway (25:26):
Kathy Welch (25:26):
So it’s the hard, but if I’ve had the opportunity, if I’m not going to be out of town or… I’ll book an appointment on a Saturday just to get that appointment put in. But the production as I call it, is the calling is the Monday, Tuesday, Wednesday, for sure.
Carley Hathaway (25:44):
Right. Got it.
Ren Jones (25:45):
Flip wants to know, do you have a farm. Now if you’re in Omaha, you may have a cattle farm?
Kathy Welch (25:53):
No, I do not have a farm.
Ren Jones (25:57):
But you have areas of town that you work frequently, I’m sure.
Kathy Welch (26:00):
Yes. Well, and especially I established it with my coach, that purposeful prospecting person. So it’s way better if I have a buyer for a specific property. Now, if I don’t have a buyer, I might contact an agent in my office to say, “Hey, do you have any buyers that you’re having trouble finding a house? Let me go to work and find something.” And so you can say, “I have an agent in my office that has a buyer.” Or if there’s a house that recently got sold, you can contact that agent and say, “How many offers did you get on the house?” And then you can call through and say, “Hey, the house that was on the market, they received seven offers. So we’ve got six families that would really like to live in your area. When do you plan on moving? Or are you interested in selling your home?”
Ren Jones (26:49):
Exactly. Good. Yeah. So a lot of ways to approach neighborhood calling. So as my cousin, Dan Hendrix wants to know what are you doing in the way of what you send to your sphere of influence?
Kathy Welch (27:04):
What do I send them or-
Ren Jones (27:06):
Do you send them anything? Do you have any-
Kathy Welch (27:09):
Yeah. Four times a year they get a card and it’s typically Groundhog Day, when the times change, 4th of July and Thanksgiving. So we’re-
Ren Jones (27:18):
Okay. All the normal. Yeah.
Kathy Welch (27:21):
Ren Jones (27:22):
Kathy Welch (27:24):
Carley Hathaway (27:24):
Kathy Welch (27:25):
The normal holidays.
Carley Hathaway (27:26):
Ren Jones (27:27):
Do you kind of do a little weather report there on whether he saw his shadow or not?
Kathy Welch (27:32):
No. Cause this year I think every person would rather shoot the groundhog than anything else based on what the weather did.
Carley Hathaway (27:41):
Ren Jones (27:41):
Somebody’s asking what percentage of your businesses from your sphere of influence versus prospecting and I think they mean versus all the rest? Because if you’re working your sphere, you’re prospecting.
Kathy Welch (27:54):
Correct. Correct. Yeah.
Ren Jones (27:59):
What percentage of your business comes from the database?
Kathy Welch (28:01):
Oh, I was looking at post numbers yesterday and I think this year we’re probably sitting at 80% right now.
Carley Hathaway (28:10):
Ren Jones (28:11):
Okay. So notice she tracks her numbers on everything. Notice how she-
Carley Hathaway (28:13):
Ren Jones (28:14):
… She has her ratios. She knows what her numbers are. So fantastic.
Carley Hathaway (28:20):
Ren Jones (28:20):
Kristen Henry says, “I have expireds, what’s she referring to about premium calling data in Neighborhoods?” Yeah. There is a thing. We have Vulcan7, you have Cole Neighborhood Search, and then you have Vulcan7, which is a lot more expensive Neighborhood Search, but every time you call somebody’s answering the phone on that. But you-
Kathy Welch (28:37):
Ren Jones (28:38):
So we have the standard cold data and we have the very premium Vulcan7 data Neighborhood. So two choices, Kristen.
Kathy Welch (28:47):
Well, and you know Ren, the best part is being able to, I don’t have to leave the voicemail. I can just click the button and the voicemail is left and I’m just calling the next person and just, it’s a very time efficient program. But it’s for the serious prospectors. I tell my little group of eight that just have been in business for, oh my gosh, maybe six months to a year… Until you become a serious prospector, you can’t have a dialing system. You’ve got to go through what we went through of the painful, just calling everybody. And then once you’ve got some deals under you, Vulcan system that really makes you a better prospector. It’s better for time management too.
Carley Hathaway (29:27):
Definitely. Definitely. Because you can get through so many calls in a fifth of the amount of time.
Kathy Welch (29:34):
Carley Hathaway (29:35):
I like this question from Joe. I’m not sure, Kathy, if you work with FSBOs. I assume you do. He’s asking what’s the best way to educate a FSBO that is selling the house that you’re trying to explain to them it’s not as easy as they think it is to get the home sold.
Kathy Welch (29:50):
I think with that for sale by owner, it’s a matter of calling them and then getting in front of them. Your goal when you’re calling them is to not list the house, your goal is to get in front of them and see the house and look at their motivation. There’s typically three reasons why they’re going to do it for sale by owner. One is they’re upside down and you can’t help them. It doesn’t matter what that is. The other one could be they just want to because their neighbors did it and they feel like that they can do it. Or sometimes they’re going to try it and then they’re going to interview and they’re going to hire a easement.
So when you can get in front of them and just chat with them. And then with for sale by owners, as I’m sure you guys have talked about, it’s a follow-up, a follow-up, a follow-up. And the best time from what I’ve been calling it’s worked for me is Mondays and Fridays. Because Mondays they’ve had their open house and maybe nobody came through, nobody was qualified. And then Fridays, it’s they’re getting ready, maybe they haven’t anybody come through during the week and you can help pick up the pieces when things aren’t going as well as they think they should.
Carley Hathaway (31:01):
Ren Jones (31:01):
Carley Hathaway (31:01):
Ren Jones (31:03):
So there was… Oh yeah, that Doug Jennings just moved down to Hilton Head, South Carolina, brand new market. He’s in brand new market gated communities, almost no expireds in that market right now. And there are parts of the country where there are very few expireds.
Kathy Welch (31:21):
Ren Jones (31:24):
What advice would you give him? He feels like he’s starting over. If you were there circle prospecting, how would… any advice you would give somebody like that where there’s, I guess you’ve got some FSBOs Doug too, and calling around neighborhoods and an occasional expired. What advice would you give somebody like that?
Kathy Welch (31:41):
You know what I think I would do is find a listing in that neighborhood from your company that has sold, go talk to that agent and say, “Did you get multiple offers?” And then start calling that neighborhood to say, “We just sold a house. We, as in our company, just sold a house in your neighborhood. We had multiple offers. We have families that want to live here. Are you thinking about selling your house? When do you plan on moving? How long have you lived at this address?”
Ren Jones (32:08):
Yeah and they’re fairly friendly calls.
Kathy Welch (32:10):
They are. Mm-hmm.
Ren Jones (32:11):
But it does take a little practice.
Kathy Welch (32:13):
Yeah. Well, I mean, it’s-
Ren Jones (32:15):
Once you’re responding to the way that person talks, you can get a really nice call 98% of the time.
Kathy Welch (32:22):
Well, and Ren, when I’ve called people, I say “Hi, it’s Kathy Welch with Keller Williams Real Estate, how are you today?” And they’ll say, “Who?” That’s my indicator. I’m talking too fast. So I got to slow it down. And then they’re very receptive to that.
Ren Jones (32:38):
Good. Perfect. Good. There’s a strategy for this and it takes practice.
Carley Hathaway (32:44):
Kathy Welch (32:44):
Carley Hathaway (32:45):
Ren Jones (32:45):
So are you role playing before you go on the air?
Kathy Welch (32:48):
No. No. But part of it is-
Ren Jones (32:52):
That’s right. You’re only down to three days a week, so you got the-
Kathy Welch (32:55):
Yeah. Part of it is I’m reading the scripts myself and I might even be able to get better, but I’ve role played for many, many years and part of it is that’s probably an area that I need to go back to, to do that.
Ren Jones (33:11):
Okay. Well good. You got something from this show?
Kathy Welch (33:15):
Ren Jones (33:16):
You can definitely get something from every show. You’ve got something from this show. You probably ought to go role play anyway. You need a role play partner? Call Kathy Welch. She gave you her information at the beginning of the show, how to reach her. She’d be a great role play partner.
Kathy Welch (33:28):
Thank you, Ren. Thank you.
Ren Jones (33:30):
Well, this has been a real treat, Kathy. I think a lot of people learned a lot about calling through neighborhoods and the different approaches and as well as time management. People, folks, you shouldn’t work seven days a week. You could even take it down to three like Kathy and make a nice income. So have some fun.
Kathy Welch (33:55):
Carley Hathaway (33:55):
You broke up. Can we start again?
Kathy Welch (33:56):
Ren Jones (33:56):
Say that one more time.
Kathy Welch (33:59):
When I was even thinking about doing this, I watched the video that you had interviewed with Brianne Luellen, and she’s working three days a week. I had the opportunity to sit down and have lunch with her. Victor Branen thought, wow, she can do this, I can do this. And that’s how it started happening for me to even think about doing it.
Ren Jones (34:21):
Yeah, she’s got her other full-time job. Single mom.
Kathy Welch (34:24):
Carley Hathaway (34:25):
Kathy Welch (34:25):
Ren Jones (34:25):
Yeah. So that-
Carley Hathaway (34:25):
I think that’s a pretty intense one, I’m sure.
Ren Jones (34:29):
So that could be full time Job with a two-year-old or three-year-old.
Kathy Welch (34:32):
Ren Jones (34:33):
So folks, if you’re… Here’s my commercials.
If you’re watching on Vulcan7 and you want to get involved with the Lead Gen Facebook group who are broadcasting on as well, they’re at facebook.com/groups/gotobjections. And I want to thank Aaron Wittenstein who runs that group. He’s a real giver. He runs a program called expiredmasteryelite.com. And finally, if you’re watching on Facebook and you’re not yet involved with Vulcan7, who’d believe it. Go to sign up at vulcan7.com/leadgen for a special deal.
And then the most important thing, the secret that Kathy Welch is not telling you, what Kathy Welch does is Monday, Tuesday, Wednesday, it’s around noon, she’s made her 22 calls, she’s set a couple appointments. She treats herself, she rewards herself with some delicious mind chocolate chip from Graeter’s Ice Cream. Go to graeters.com and find a store near you all over, all over North America, right down the street from you and you’re not even aware of it.
And you too, this is the secret folks. You want to know how to prospect and get more people to respond. This is it. And Carley, you would’ve gotten… you’d gotten more hits this week if you had done that. Go to the Seaside Market up the road and get some, they have a big selection.
Carley Hathaway (35:56):
Okay. All right. As soon as I hit my 27 conducts for today, I will go get some ice cream.
Ren Jones (35:59):
Yeah, yeah. Go up there. And Seaside Market has everything, so you’ll enjoy it.
Carley Hathaway (36:04):
Ren Jones (36:05):
We’ll see you guys next week. We got a couple exciting shows next week is probates.
Carley Hathaway (36:08):
Ren Jones (36:08):
Probates, and then we have broadcast the week after in front of a live audience at a Keller Williams office in Westchester, Ohio. So it’s going to be an exciting two weeks coming up ahead. And thank you Kathy Welch.
Kathy Welch (36:25):
Thank you. Thank you. It was my pleasure.
Carley Hathaway (36:27):
Kathy, Thank you so much. It’s been such a joy, Kathy.
Kathy Welch (36:29):
Ren Jones (36:31):
We’ll have to come out to see your cattle ranch. You know your cattle farm.
Kathy Welch (36:33):
Ren Jones (36:34):
The farmer folks. No.
Carley Hathaway (36:37):
Ren Jones (36:38):
Bye everybody. See you next time. Thank you.