May 2022 OKR Meeting Notes

, May 10, 2022 | 0 Comments

1) Community Vendor: Randy Barfield w/ Barfield Home Inspections

2) Announcements:

  • Stacy is now officially a Buyers Agent! Congrats!!!
  • Welcome, Kathryn Strand!
  • Welcome, Danny De Luna!
  • Welcome, Marelise Flessner!

4) OKRS (April)

Leading Indicators (FUB Leaderboard)

  • 281 conversations w/ 2 days 5 hrs of talk time
  • 1,066 text messages
  • 134,777 emails
  • Top Talker = Patrick w/ 9hrs 29min
  • Top Texter = Jeremy w/ 232

3) Office OKRs

  • We closed $46.8M and 70 transactions. This is our second biggest month in dollar volume (behind March 2022) and our biggest month ever in units! This is a +10% increase in $ volume and a +27% increase in units over April 2021!
  • We contracted $45.9M and 57 transactions. This is our biggest month of $ volume in contracts written! This is a +11.4% increase in dollar volume and a -6.5% decrease in units over April 2021.
  • We are at $233M YTD contracted/closed for the year. This is +48% growth YOY!
  • We had 91% lead shift coverage.

$1M+ Closers

  1. Kasey = $8.7M
  2. Craig = $6.3M
  3. Linda = $5.3M
  4. Bailey = $4.1M
  5. Jeremy = $3.1M
  6. Katie = $2.5M
  7. Lauren = $2.5M
  8. Will = $1.6M
  9. Becky = $1.5M
  10. Eric = $1.3M
  11. Shaun = $1.2M
  12. Tara = $1.2M
  13. Gabe = $1.1M
  14. Vicki = $1M

$1M+ Contracts

  1. Kasey = $17.9M
  2. Ann = $3.3M
  3. Linda = $3.1M
  4. Jeremy = $2.4M
  5. Lauren = $2.4M
  6. Bailey = $2.2M
  7. Rob = $1.9M
  8. Craig = $1.8M
  9. Katie = $1.8M
  10. Shaun = $1.4M
  11. Erin = $1.1M
  12. Becky = $1.1M

4) Community First Volunteer Event (5/18 from 9am-noon)

Exciting news! Bramlett Residential is volunteering at Community First Village on Wednesday, May 18th from 9am to 12pm. Please plan to arrive 15 minutes early so there’s plenty of time to get checked in, oriented, and into the right spot. Recommended attire is close-toed shoes and long pants or socks. Additionally, you will all need to bring a water bottle and a pair of gardening gloves.

We will also need everyone to register an account on their volunteer website and then sign up for the event on this private Community First! Volunteer Sign Up page before coming out to volunteer. It serves as their waiver/release form, so please make sure to sign up online beforehand.

The suggested donation for volunteer groups, which goes towards the dignified income of the residents leading you, is $10 per person and you can submit that online here. Alternatively, you can bring cash or a check made out to “Mobile Loaves & Fishes”. You can also mail your donation to us at 9301 Hog Eye Road, Austin TX 78724. Whether donating online or via check, please make sure to indicate your specific group name either in the “group name” field on the website or on the check memo line.

Let Lauren know if you have any questions!
Email: [email protected]
Cell: 512-962-3082

5) Round Table: Slowing Market / Slowing Seasonality

  • Last year, we contracted ~30% fewer homes in May and June than we did in March and April. This is normal seasonality. Fewer people go under contract in May and June than in March/April
  • Interest rates are now 5.5%. Rates have doubled in the last 12 months.
  • We saw roughly -16% fewer sales in April 2022 than in 2021. This will continue to trend downwards.
    • Buyers can afford less. A buyer who could afford a $500k loan can now afford a $365k loan.
    • Most sellers refinanced into a ~3% loan. If they choose to move now, they have to get a 5.5% loan.
  • The Austin market will likely see 20-25% fewer sales in 2022 than in 2021.
  • The good news? When markets shift, it’s the easiest time to pick up market share.
    • What do I mean by that? Agents who continue operating the same way they have in the past will get a fewer % of sales. Agents who adjust to the market will get a larger % of sales. It’s time to shift (if you haven’t already.) You need to work everything that comes in.
  • Our Market Update tool has been very, very successful! The open rate is up to 64.7%. We need to lean into this.
    • Every person you talk to gets a Market Update or a Buyer Search. Literally, offer it to everyone.
  • Fill your pipeline with people who are interested in possibly buying or selling. Over the next year, they will get used to these higher rates and they will eventually buy or sell. If you consistently follow up with them, you will win.
    • Agents who only prioritize 1-3 Month leads will see their production decline. Agents who take the time to service and follow up with the Warm (3-6 Months) and LT Nurture (6+ Months) leads will win in late 2022 and 2023.

6) What we’re working on

  • Lauren is now 100% out of the management role and 100% in production. This doesn’t mean that she’s off limits for advice, help, etc… However, please be mindful that it’s no longer her job to answer questions.
  • Seller Leads – now enter them into FUB and tag them “seller leads” or “sellerleads”
  • Spam on the webforms is getting pretty bad. We’ve started to rebuild all of the forms to address this. This will take some time to complete.
  • $99 virtual “Building a Smart Business” by Ninja Selling on June 22. I will attend and I recommend everyone attend! This is a $99 3-hour course.
  • We’re in the process of making more staff hires.
  • We’ve doubled resources on the Client Portal. We’ll see monthly revisions rolling out. We have a pretty big (epic) set of features coming in the next 1-2 weeks.
  • The VAs were pretty unavailable last week due to Eid, which is like Christmas in their culture. We go through this every year where there’s a week of slow service and then they’re back on track.
  • Remine discussion. Is anyone interested in it? Questions about it?

7) Coming Soons and Buyer Needs

8) Market Updates

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2300+ Client reviews!

Blessed to have connected with Kristen! I can’t say enough great things about Kristen. Her professionalism, market knowledge, and communication were beyond compare. She was incredibly patient throughout our home search. We looked at a countless amount of homes (we are very picky), and never once felt she was trying to push us in to something that wasn’t the right fit for the sake of a sale. We always felt she had our best interest in mind. Couldn’t recommend her more!!!

Sally was referred to me via a business network when I first moved to Austin in 2022. She helped me understand the area, evaluate my options, and find the perfect spot in a tough market. Sally has been a joy to work with because she creates partnerships + friendships with her clients!

I was impressed by Sally’s expertise in selling both my investment property and my primary residence, and in helping us buy our dream home. At our initial meeting, we found Sally knew the real estate market, but found even more impressive her emotional quotient in understanding and navigating the differences between my partner’s and my very different personalities. For my investment property, she timed the showings and sale perfectly and created a helpful Excel spreadsheet comparing the many offers. She was also savvy enough to suggest we pay the tenants a fair amount of money to make the property available for viewing from 9am – 5pm on the first weekend to make it as easy as possible for potential buyers to get through, and we let her deal directly with the tenants because we could tell her people skills would serve us well

We got multiple offers by the deadline on Monday afternoon with one outlier that was $150K higher than what we had unsuccessfully listed the property for (with a different realtor) a year earlier!

When it came to selling my primary home, Sally’s expertise in the luxury market, and in historic homes in particular, truly shone. She understood that selling a high-end property, with various restrictions, required a different approach. Sally crafted a listing for the home that perfectly captured its unique character and premier location. Her marketing strategy was well timed and appropriate for the more limited market, attracting the right buyer pool and creating a sense of exclusivity around the property. She suggested listing it on the private market for a week or two before sending a message that it would be listed on the MLS. She organized private showings that allowed buyers to experience the warmth and charm of the home and the neighborhood, which I believe was instrumental in securing a sale.

The pricing and marketing strategy Sally recommended was spot-on, and we sold the home at a price that far exceeded our expectations. Sally helped thread the needle perfectly.

Sally is also accessible. We found more well-known realtors would respond to our email days later, whereas she was always available right away to answer my questions, and provided us with regular updates, making sure every detail was handled with care. Selling a high-end property can be a stressful experience with fewer potential buyers and some downtime inherent in waiting for the right buyer, but Sally made it a smooth and surprisingly easy process encouraging us to be patient while giving us enough information on what was happening to satisfy both me and my partner. In the end, we were thrilled with the results

Sally’s rep of us as sellers could not have been more professional, but her work repping us as buyers is the most memorable. We were trying to be our dream home in an overheated market, and Sally gave us advice that at each turn proved invaluable. She recommended offering just the right amount above the offer price for us to make it to the next round of offers. She handled a very difficult appraisal process by advising us on financing sources, even offering to help us put down a higher amount by loaning us money herself! We were able to finance the home without taking her up on that offer, but how many realtors make that kind of offer to their clients? In the end, we closed on the house ontime and ended up with the home of our dreams, thanks to Sally’s world-class advice and service.

We cannot say enough good things about Sally’s technical knowledge, people skills, and responsiveness. You won’t find a better realtor in Austin.

I have lived here in Austin for more twenty-five years, and have bought and sold several homes and rented others during those years. I have worked with five realtors during that time. SALLY IS BY FAR THE BEST OF ANY IN TOWN. Her work ethic is simply unmatched. She hides her competitive streak underneath a layer of Austin hip and friendly, but she will absolutely get you the best home, the best deal, and stop at NOTHING to get your home sold as well!

Sally loves real estate. She has a genuine passion for Austin, too, and for her client’s well-being. She took time to understand my needs and was always available to answer any questions and provide me with honest and insightful advice.

We toured many homes in Barton Hills and settled on a great home that was hotly contested by builders and homeowners. Sally understood how we could be the preferred buyer without getting into a bidding war. She knew the motivations of the Seller and we maneuvered and negotiated the contract and secured my dream home.

Furthermore, at the 11th hour, the day before we were set to close, our lender said we needed to put a fence around the pool before they would release the funds. The seller was not inclined to extend the closing again. We were out of town. Sally saved the day by racing to Home Depot and getting the largest tarpaulin available and then securing it over the pool at the house. Sent pics to the lender and we were set to close.

In short, Sally will work harder and smarter than anyone. She’s simply the best.

Sally is incredible! She spent nearly 2 years with us – understanding our very specific preferences and needs – to help us find our dream home. She was the first agent to reach out when the home was listed and negotiated the contract astutely so that we secured the home. The home was only in the framed stage, still had a few months until completion. Once it was completed, however, our plans had changed and we needed to get out of the contract. We were expecting to have to relinquish our very considerable deposit. But Sally spent the entire weekend working on a way to get us out of the contract AND get our deposit back. Everyone we have spoken to about this extraordinary outcome has been surprised that Sally managed to get our deposit back for us. Thank you Sally, we can’t recommend her highly enough.

Sally is reliable, diligent in her research, prompt on exchanges, creative in deal making, and has a tremendous work ethic. She is the sole reason we were able to close on our primary residence, which has been our dream home and a fantastic investment. From there, we’ve gone on to close on multiple rental property purchases in Austin together. Thanks to her astute analysis, we’ve passed on many deals as well, which has proven just as valuable. I cannot recommend her highly enough.

I highly recommend Kiel if you’re looking to rent a place in Austin. We originally met him to look around a particular unit, and when it was not to our satisfaction, he was able to quickly take us around many more units that day. He also set up a whole day of viewings for the very next day! Within 48 hours we had done enough viewings to be confident in choosing a new home. The landlord accepted our offer and Kiel handled all of the paperwork, even stopping by our hotel to pick up the needed checks. We couldn’t be happier.
Kiel is highly organized and unlike some realtors in the Austin area, he is responsive and ready to move quickly. We were always able to contact him and never left waiting.

Kiel has your BACK!! We are so grateful to have had his guidance and knowledge while navigating the intense, frustrating and way competitive Austin rental market. He quickly picked up on our taste and designed a game plan to help us push through the clutter and get to the properties that best suited us. He was ALWAYS available to us and answered our emails, calls and texts with great speed. We’re so grateful to have had him on our search team. Because my goodness, it really is a crazy market out there!

Kiel was amazing to work with! He walked us through everything, explained anything we didn’t understand, and he is is just a great guy to work with. As a first time home buyer, his knowledge was invaluable. 10/10 would recommend!

Kiel was referred to me by a friend, and we were so pleased with his services. He jumped in and guided us through the entire process, made himself readily available for us during the whole process, checked in with us via text every step of the way, and provided any and all information we requested. As a first time home buyer, I was not totally familiar with the process. Kiel helped me through the lending process, walk through inspection and closing procedures. It was such a pleasure to work with him, and we look forward to hiring him again when we purchase our next property.

I’ve never met anyone as knowledgeable and hard working as Kiel. Everything he said he was going to do, he did it. Kiel is a very easy person to get along with. He made us comfortable with the process and also made it fun. In 5 words…HE GETS THE JOB DONE!

It was great working with Kiel. He understood what we really wanted in a home. When it came to the process of the contract, it was obvious how knowledgeable he was. He did exactly what we wanted while giving great advice.

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