In this special live interview episode, we’re joined by top agent and team leader Jamie Cox, founder of the Jamie Cox Group of Las Vegas, NV. After a background in real estate investing in Florida, Jamie entered the Las Vegas market around 2008 by transitioning from investor to agent specializing in short sales. From there Jamie became a successful solo agent and experimented with building a team.
Jamie walks us through his experience building and exiting his real estate, shares his biggest mistakes along the way, such as hiring a buyers agent with no training or accountability systems, and his current role providing vision, systems and support. He also shares some drop dead simple scripts for circle prospecting, explains why this is the heart of his team’s lead generation strategy, and takes us through their simple, effective, personalized follow-up process for leads.
Here are your three key takeaways:
Don’t bring on a buyers agent until you can provide training, support systems and accountability
Circle prospecting is an extremely effective and predictable lead generation strategy - They know for every 750 dials and 100 contacts made they will take 1-2 listings
Track leading indicators, such as dials and contacts, rather than lagging indicators like listings taken or closings, so that you can make adjustments well in advance of problems
Resources & Links
Facebook Group- REALTOR Lead Generation Tips and Strategies
Jamie Cox Group- For referrals in the Las Vegas/Henderson Area:
[3:30] Jamie’s background as a real estate investor and how the real estate crash steered Jamie into the agency side of real estate
[5:30] How Jamie used a daily YouTube show to generate short sale leads and sent referrals to agents all over the country
[9:05] Jamie- “There’s someone succeeding with every lead gen strategy - it’s really time on task over time and making the commitment to stay focused on one and it works.”
[9:40] Why Jamie’s first experience bringing on a buyers agent was one of his biggest mistakes, and how systems and training were the key to making buyers agents work for you
[16:30] The key to the growth of Jamie’s team: his mindset shift from focusing on providing leads to providing systems, structure and accountability; How Jamie’s team is structured so that everyone prospects and focuses on listings
[20:05] The responsibilities of Jamie’s agents and support staff that allow agents to make a true net income while doing NOTHING but prospecting, run listing appts, maintain the relationship with the seller and show up at the signing
[25:00] How Jamie compensates his support staff, and why his admin asked for an annual bonus based on profit, rather than taking her bonus monthly
[26:30] Why circle prospecting is the HEART of the team’s prospecting, and how they use Cole Realty Resource and SalesDialers, a 4-line dialing system, integrated with Follow up Boss
[32:40] Drop dead simple circle prospecting script -”Hey we just sold a house around the corner, we’ve had a lot of activity, so we thought we’d call around the community and see if anyone else had thought about selling.” Plus a simple script for getting permission to follow up later.
[34:15] How Jamie’s team uses very simple, personalized touches with calls and handwritten thank-you cards, managed by Follow Up Boss, to nurture leads and solidify relationships. NOTE: virtually every listing appt they go on, the agent will see one of their thank you cards sitting out
[37:00] Ideas for working with local businesses and vendors to add value to clients and prospects and build relationships
[40:15] How Jamie withdrew himself from working with clients - why the biggest challenge was letting go of listing appts and how he focused on systems and becoming a better leader to overcome that challenge
[43:50] How to make $100k per year with only 20 contacts a day
[47:15] How Jamie tracks leading indicators- Circle prospecting in their market: 750 calls = 100 contacts, 100 contacts = 1-2 listings, very predictable over time, and how the team uses Google Spreadsheets and Klipfolio to track their numbers