A Reminder of the Three L’s in Real Estate

Good morning,

I just finished reading, for the 10th time, Gary Keller’s Best selling book the “Millionaire Real Estate Agent”

Now, you might be thinking, why would you ever read a book ten times? What I have discovered is that I have a different “listening” for the material each time I go through the book. I have noticed that as my business and life grows, the way I internalize information changes as well. it is some part of my brain is saying “This is really important this time”. I have learned not to question it, and just learn the lessons that I need to hear at this time.

My belief is that if we can focus on the “three L’s” of Real Estate, everything else we do will become meaningless or unnecessary.

The Three L’s of Real Estate are Leads, Listings and Leverage

1) Leads- The Lead generation model in the book shows you how to win the positioning battle for customer mind share.Market your name and presence( not your Brokers), initiate and track marketing and prospecting activities necessary to generate the appropriate leads and appointments. Your lead generation has to be systematic, consistent and sustained, and it never rests.
The higher quality of your leads , the better the conversion rate. Always focus on appointments booked and not the number leads you receive. Appointments drive income, so target appointments first.
Finally know your lead generation ratios and your lead generation cost…monitor closely!

2) Listings- Are the high leverage, maximum earning opportunity in Real Estate. Listings give you control of your time, your marketplace and your future. The more you can focus your efforts on deeply listening to what Sellers want, serving them at a very high level through Servant Leadership, and delivering it through your value proposition, the more people you will serve.

3) Leverage- Is the people, systems and tools that you utilize to execute your vision. Leverage answers the question- Who is going to do it? How will they do it? What will they do it with? as your team grows you will transition from the person who does everything, to the person who develops their skills in knowing how to recruit, train, select, keep and develop talent. You will also start seeking new knowledge in the development of your Leadership skills.

Putting this all together….if you focus on your leads generated and converted to appointments, you will take more Listings, write more contracts, close more contracts, make more money, add more people to your team, install more great systems and tools, and live the life you were meant to live.

I hope this helps,

Glenn McQueenie
Keller Williams Referred Realty
Toronto, Ontario

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About Glenn McQueenie

Glenn is the Operating Principal of Keller Williams Referred Realty and Broker of Record of Keller Williams Referred Urban Realty in Toronto. His first office was launched in 2004 and has now grown to over 230 agents in 2 offices. Glenn's passion is teaching, coaching and mentoring agents to help them get more referrals from their Sphere of Influence, converting more leads and getting additional transactions from every listing you take. Glenn is also committed to helping people have careers worth having, business worth owning and lives worth living.
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