Leadership Conference. March 20-21, 2017

Transcription

1 Leadership Conference March 20-21, 2017

2 Recruiting Experienced Agents J.D. Parker Senior Vice President/Division Manager Brian Hosey Regional Manager, New Jersey

3 RECRUITING EXPERIENCED AGENTS Agenda: Free Agent Recruiting Overview Experienced Agent Recruiting Continuum Case Study

4 RECRUITING EXPERIENCED AGENTS Why Recruit Experienced Agents? Fastest way to grow office revenue Fastest way to grow personal revenue Immediate impact versus 2-3 year process with walk-on candidate

5 EXPERIENCED AGENT DEFINITIONS Experienced Agent 1: 1. Five-plus years of direct continuous experience as a licensed investment sales broker or agent (not as an analyst or an assistant). 2. REIS: Closed 20+ sales transactions including at least ten list-side closings. 3. MMCC: Closed 10+ debt/equity transactions totaling $100M. 4. A consistent record of growth in number of deals over the past several years. 5. No major gap in direct work experience that cannot be satisfactorily explained. 6. At least three strong professional references.

6 EXPERIENCED AGENT DEFINITIONS Experienced Agent 2: 1. Two to five years of direct, continuous experience as a licensed investment sales broker/agent or commercial mortgage broker. 2. REIS: Closed 10+ sales transactions including at least five list-side closings. 3. MMCC: Closed 5+ debt/equity transactions totaling $50M 4. A consistent record of growth in number of deals. 5. No major gap in direct work experience that cannot be satisfactorily explained. 6. At least three strong professional references.

7 Sourcing experienced agents is no different than sourcing clients. It starts with a systematic approach and high activity levels.

8 EXPERIENCED AGENT RECRUITING CONTINUUM Branding Campaign ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST

9 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 1 GENERATE Branding Campaign PROLOGUE History of the firm History of your office Your story in 3 minutes Clear vision for your office Behavioral Event Interview

10 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 1 GENERATE Branding Campaign RESEARCH / SOURCING Create list of all experienced agents and loan originators Recruiters Co-Star Existing agents Past clients Competitor websites Lenders Attendee lists from events Trade publications Google alerts Add to Applicant Tracking System (ATS)

11 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 1 GENERATE Branding Campaign INITIAL CONTACT Prepare research file Bio Comps LinkedIn Press Call agent Purpose: Close for meeting in Person

12 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 1 GENERATE Branding Campaign 1 st MEETING Purpose: Determine Viability of Future Partnership 1. Intro/Build Rapport 2. Ask Open-Ended Questions 3. Determine Push/Pull Factors 4. If Warranted: Lay Groundwork for Subsequent Meetings 1. Division/Specialty Group Manager Meeting 2. Review Agent Resource Guide 3. Team Building 4. Meeting with Top Agents 5. Close for 2 nd Meeting

13 EXPERIENCED AGENT RECRUITING CONTINUUM Branding Campaign ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST

14 EXPERIENCED AGENT RECRUITING CONTINUUM Branding Campaign ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST

15 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 2 CULTIVATE Branding Campaign BRANDING CAMPAIGN Scheduled and Consistent s Just Sold Press Releases Research Reports CNBC Features Follow-up call every 30 to 60 Days Face-to-face meeting every 90 to 180 Days Direct Mail every 8-12 weeks

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17 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 2 CULTIVATE Branding Campaign SUBSEQUENT MEETINGS MENU Division Manager/Specialty Group Director If appropriate fly candidate to a major office Review of Agent Resource Guide Mnet Mnet Offering Research, etc. Team Building Lay out an invitation to build a team and walk agent through Team Building Presentation Meet with Top Agents Recruit non competing agents to sell the value of association

18 AGENT RESOURCE GUIDE MNet Companywide Property Inventory and Marketing System Fast, easy electronic access to Marcus & Millichap s national inventory Foundation of matching properties with buyers through the firm s national sales force Provides output options: Executive Summary Electronic and Print Marketing Package E-brochures and other strategic marketing resources Buyer Needs matched to listings Posting select listings on the external websites automatically MM.com and Agent Profiles Market Summary Master Property Database New listing and listing expiration notifications

19 PROPERTY NAME STEPHEN EBY & PARTNERS OFFERING MEMORANDOM ELECTRONIC BROCHURES MARKET RESEARCH DEMOGRAPHICS ESCROW MANAGEMENT WIRE TRANSFERS THIRD-PARTY REPORTS ESTOPPEL PRODUCTION PROPERTY NAME AUSTIN WEISENBECK VICE PRESIDENT, INVESTMENTS SENIOR DIRECTOR, NATIONAL RETAIL GROUP SENIOR DIRECTOR, NET LEASE PROPERTY GROUP DEBT & STRUCTURED FINANCING: Anita Paryani Rice VICE PRESIDENT CAPITAL MARKETS FINANCIAL ANAYLYSIS & COMPETITOR ANALYST: Anthony Lombardo SENIOR FINANCIAL ANALYST MARCUS & MILLICHAP SUPPORT: Jane Smith MAJOR ACCOUNT SERVICES STEPHEN EBY & PARTNERS SEAN SHARKO VICE PRESIDENT, INVESTMENTS SENIOR DIRECTOR, NATIONAL RETAIL GROUP SENIOR DIRECTOR, NET LEASE PROPERTY GROUP ACCOUNTING: Michele Ellis TRANSACTION COORDINATOR DEBT & STRUCTURED FINANCING: Anita Paryani Rice VICE PRESIDENT CAPITAL MARKETS FINANCIAL ANAYLYSIS & COMPETITOR ANALYST: Anthony Lombardo SENIOR FINANCIAL ANALYST MARCUS & MILLICHAP SUPPORT: Jane Smith MAJOR ACCOUNT SERVICES DEBT & STRUCTURED FINANCING: Jake Roberts FIRST VICE PRESIDENT CAPITAL MARKETS FINANCIAL ANAYLYSIS & COMPETITOR ANALYST: Chad Paquette FINANCIAL ANALYST MARCUS & MILLICHAP SUPPORT: Jan Doe MARKERTING COORDINATOR OFFERING MEMORANDOM ELECTRONIC BROCHURES MARKET RESEARCH DEMOGRAPHICS ACCOUNTING: Michele Ellis TRANSACTION COORDINATOR Over 1,500 Investment Professionals in Offices Throughout the U.S. and Canada MARKETING TEAM Over 1,500 Professionals Throughout the U.S. & Canada Electronic Marketing (MNet, , Posting, etc.) Direct Client Ca ling Effort AUSTIN WEISENBECK VICE PRESIDENT, INVESTMENTS SENIOR DIRECTOR, NATIONAL RETAIL GROUP SENIOR DIRECTOR, NET LEASE PROPERTY GROUP DEBT & STRUCTURED FINANCING: Jake Roberts FIRST VICE PRESIDENT CAPITAL MARKETS FINANCIAL ANAYLYSIS & COMPETITOR ANALYST: Chad Paquette FINANCIAL ANALYST MARCUS & MILLICHAP SUPPORT: Jan Doe MARKERTING COORDINATOR ESCROW MANAGEMENT WIRE TRANSFERS THIRD-PARTY REPORTS ESTOPPEL PRODUCTION MARKETING TEAM Advertising & Direct Mail Cooperating Brokerage Community Confidentiality Registration Offering Memorandum Distribution Over 1,500 Investment Professionals in Offices Throughout the U.S. and Canada MARKETING TEAM Over 1,500 Professionals Throughout the U.S. & Canada # MARKETING TEAM Cooperating Brokerage Community Confidentiality Registration Offering Memorandum Distribution Advertising & Direct Mail Electronic Marketing (MNet, , Posting, etc.) Direct Client Ca ling Effort # PROPERTY NAME SENIOR DIRECTOR, NATIONAL RETAIL GROUP SENIOR DIRECTOR, NET LEASE PROPERTY GROUP DEBT & STRUCTURED FINANCING: CAPITAL MARKETS FINANCIAL ANAYLYSIS & COMPETITOR ANALYST: MARCUS & MILLICHAP SUPPORT: DEBT & STRUCTURED FINANCING: CAPITAL MARKETS FINANCIAL ANAYLYSIS & COMPETITOR ANALYST: MARCUS & MILLICHAP SUPPORT: OFFERING MEMORANDOM ELECTRONIC BROCHURES MARKET RESEARCH DEMOGRAPHICS ACCOUNTING: ESCROW MANAGEMENT WIRE TRANSFERS THIRD-PARTY REPORTS ESTOPPEL PRODUCTION Over 1,500 Investment Professionals in Offices Throughout the U.S. and Canada MARKETING TEAM Over 1,500 Professionals Throughout the U.S. & Canada Electronic Marketing (MNet, , Posting, etc.) Direct Client Calling Effort MARKETING TEAM Advertising & Direct Mail Cooperating Brokerage Community Confidentiality Registration Offering Memorandum Distribution AGENT RESOURCE GUIDE Marketing Proposals and Packages: STEPHEN EBY & PARTNERS AUSTIN WEISENBECK VICE PRESIDENT, INVESTMENTS Anita Paryani Rice VICE PRESIDENT Anthony Lombardo SENIOR FINANCIAL ANALYST Jake Roberts FIRST VICE PRESIDENT Chad Paquette FINANCIAL ANALYST MNet-Offering a cloud-based application for creating marketing proposals and packages Features of MNet-Offering: Web-based application provides access anywhere, anytime Team-based, allowing multiple agents or assistants to work simultaneously User-friendly output is in PowerPoint, enabling easy agent customization Make edits to existing pages Insert and create new pages Jane Smith MAJOR ACCOUNT SERVICES Jan Doe MARKERTING COORDINATOR Michele Ellis TRANSACTION COORDINATOR #

20 AGENT RESOURCE GUIDE Marketing: Constant Contact The industry s leading marketing tool offering bulk ing and advanced tracking and reporting capabilities Features of Constant Contact: No cost to agents or originators Simple, intuitive interface Customizable Marcus & Millichap branded templates as well as Constant Contact s own templates Marketing Hub Offers a variety of fully designed campaigns Easily move branded s into your Constant Contact account

21 AGENT RESOURCE GUIDE Research Support and Publications National Reports Covers 46 major markets from coast-to-coast National branding and name recognition National report by property type (apartment, office and retail) Featuring forward-looking ranking index Central mailing to avoid duplicates

22 The Brokerage Continuum As it Relates to Team Building ZONE 2 ZONE 3 ZONE 1 ZONE 1 Marketing Listing Offers Cultivate 2 nd App. Harvest Due Dil. 1 st App. Generate Generate Biz Dev Call Research/Database Contract Remove Contingencies Closing Post Closing

23 Zone 1 = Generate Ways to Enter the Sales Cycle = Start A Relationship ZONE 1 1 st App. Biz Dev Call Research/Database 2 nd App. 1. The Phone 2. 3 rd Party Referrals: Attorney, Accountant, etc. 3. Internal Referral 4. Tracking On Market Comps 5. Post Cards 6. Networking Events 7. Campaigns( Research, Listings, Marketwatch) 8. Mentorship 9. Personal Letters 10. Seminars 11. Client Referrals 12. Company Website Leads 13. Signs 14. Press Releases/Articles you write 15. News Paper Advertisements 16. Social Media (Facebook, Linked In, etc ) 17. Online Advertisements

24 Zone 2 = Cultivate ZONE 2 Methods of Cultivation 2 nd App. Listing Scheduled s rotating Content Consistent Direct Mail: Postcards, Letters or Flyers Scheduled Personal Letters: Articles, Research or Comps Scheduled Follow up Calls Product Flow Holiday Cards/birthday cards/seasonal & Closing gifts Scheduled Follow up Meetings Educational Seminars Social Client Events Invite all to live webcasts Industry Conferences Closing Dinners

25 Zone 3 = Harvest Listing Zone 3 Harvesting the Relationship Through a Project Marketing Offers Due Dil. Contract Remove Contingencies Closing Post Closing Harvesting is a byproduct of Generating and Cultivating the relationship Market Share vs Proposal Market Share Find a Project to Work on For the Client Sale, Purchase, Financing, Consulting/Advisory

26 Team Creation The Six Pillars Team Leader Prolific Deal Generator/Rainmaker Building a Team to get more At Bats, not to disconnect from the Client Database Staff Team Members Proposal Solution Branding/ Marketing Transaction Management

27 Team Construct Options Tiered Team Structure Senior Agent partner Partner partner Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Flat Team Structure Agent Partner Partner Partner Partner Partner Partner Partner Partner

28 Team Construct Options Flat Team Structure Agent Partner Partner Partner Partner Partner Partner Partner Partner Creates Leverage Through Others Doesn t Allow Agents to Grow Can create complacency among junior partner as they feel to no pressure Creates risk upon junior agent termination Allows for the creation of a long-term partnership Creates ability to mine the market for proposals across the price spectrum Senior agent can become stretched Senior agent doesn t want to train junior agents in perpetuity

29 Team Construct Options Tiered Team Structure Senior Agent partner Partner partner Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Creates Leverage Through Others Allows Agents to Grow Creates Pressure on Partner to continue to generate and grow skills Allows for the creation of a long-term partnership Creates ability to mine the market for proposals across the price spectrum Wide adoption of provided database Allows you to leverage Agents to train new agents

30 5 Year pathway to Team Leader Belief System Creation Walk on Agent mentored by RM or Sole Proprietor Basic Mentorship/Resource Management Skills Developed Mentorship Skills Developed Leadership Demonstrated Team Leader Skills Developed Resource Management Skills Developed Team Leader Empowers others Creates Leverage through others Agent Agent Agent Agent Free or Franchise Agent SIP Mentee Hired on basic Mentorship Agreement Agent on long term team agreement Agent on long term Team Agreement partner Partner Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement Agent on long term team agreement 0-12 Months 6-18 Months Months Months Months Pillar 1 & Pillar 2 Required

31 EXPERIENCED AGENT RECRUITING CONTINUUM Branding Campaign ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST

32 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 3 HARVEST Branding Campaign PRODUCTION HISTORY Trailing 3 Years of production history Itemized Closed Transaction History: Property address, price, gross fee Under contract Listed Current Deal Marketing Staff Current Fee Split Verifiable Trailing 3 Years of income 1099 or Tax Return

33 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 3 HARVEST Branding Campaign OFFER 5-year Projection Worksheet Quantify Profitability Offer Generated by Senior Management Present Offer in Person

34 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 3 HARVEST Branding Campaign OFFER 5-year Projection Worksheet Quantify Profitability Offer Generated by Senior Management Present Offer in Person EA1: Agent Support (If Appropriate) Title Split Physical Location in Office

35 EXPERIENCED AGENT RECRUITING CONTINUUM ZONE 3 HARVEST Branding Campaign ONBOARDING Association Agreement Computer Setup/Purchase Seating Arrangement Private office? Attend Training? How Often Will You Meet Business Plan What is your Project with the Agent?

36 CASE STUDY: TIMELINE FAHRI OZTURK Cushman & Wakefield Total time to recruit: 18 months Activity Date Researched/Sourced candidate April 2015 First Contact - Call May 2015 Brian has lunch with candidate June 2015 Brian and J.D. meet candidate October 2015 Brian and J.D. have breakfast with candidate April 2016 Production history & expenses April 2016 Brian and J.D. meet with candidate May 2016 Technology meeting/meeting with agents June 2016 Meeting with agents July 2016 First offer presented July 2016 Updated production history & proof of expenses August 2016 Brian and J.D. negotiate terms of offer August - September Start date October 2016 Team building meeting with J.D. October 2016 First activity review November 2016 Together won $65M listing January 2017 Closed first transaction January 2017

37 CASE STUDY: TIMELINE ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST ONBOARDING Researched/Sourced candidate April 2015 First Contact - Call May 2015 Brian has lunch with candidate June 2015 Brian and J.D. meet candidate October 2015 Brian and J.D. have breakfast with candidate April 2016 Production history & expenses April 2016 Brian and J.D. meet with candidate May 2016 Technology meeting/meeting with agents June 2016 Meeting with agents July 2016 First offer presented July 2016 Updated production history & proof of expenses August 2016 Brian and J.D. negotiate terms of offer August - September Start date October 2016 Team building meeting with J.D. October 2016 First activity review November 2016 Together won $65M listing January 2017 Closed first transaction January 2017

38 CASE STUDY: TIMELINE ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST ONBOARDING Researched/Sourced candidate April 2015 First Contact - Call May 2015 Brian has lunch with candidate June 2015 Brian and J.D. meet candidate October 2015 Brian and J.D. have breakfast with candidate April 2016 Production history & expenses April 2016 Brian and J.D. meet with candidate May 2016 Technology meeting/meeting with agents June 2016 Meeting with agents July 2016 First offer presented July 2016 Updated production history & proof of expenses August 2016 Brian and J.D. negotiate terms of offer August - September Start date October 2016 Team building meeting with J.D. October 2016 First activity review November 2016 Together won $65M listing January 2017 Closed first transaction January 2017

39 CASE STUDY: TIMELINE ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST ONBOARDING Researched/Sourced candidate April 2015 First Contact - Call May 2015 Brian has lunch with candidate June 2015 Brian and J.D. meet candidate October 2015 Brian and J.D. have breakfast with candidate April 2016 Production history & expenses April 2016 Brian and J.D. meet with candidate May 2016 Technology meeting/meeting with agents June 2016 Meeting with agents July 2016 First offer presented July 2016 Updated production history & proof of expenses August 2016 Brian and J.D. negotiate terms of offer August - September Start date October 2016 Team building meeting with J.D. October 2016 First activity review November 2016 Together won $65M listing January 2017 Closed first transaction January 2017

40 CASE STUDY: TIMELINE ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST ONBOARDING Researched/Sourced candidate April 2015 First Contact - Call May 2015 Brian has lunch with candidate June 2015 Brian and J.D. meet candidate October 2015 Brian and J.D. have breakfast with candidate April 2016 Production history & expenses April 2016 Brian and J.D. meet with candidate May 2016 Technology meeting/meeting with agents June 2016 Meeting with agents July 2016 First offer presented July 2016 Updated production history & proof of expenses August 2016 Brian and J.D. negotiate terms of offer August - September Start date October 2016 Team building meeting with J.D. October 2016 First activity review November 2016 Together won $65M listing January 2017 Closed first transaction January 2017

41 EXPERIENCED AGENT RECRUITING CONTINUUM Branding Campaign ZONE 1 GENERATE ZONE 2 CULTIVATE ZONE 3 HARVEST

42 BREAKOUT Scenario 1 (First Contact): You are calling an industrial broker for the first time. You saw that he sold a $4 million distribution center in your market. Goal: To get a meeting. Scenario 2 (First Meeting): You are recruiting a multifamily agent concentrating on $1 to $5 million deals and closing 10+ deals annually. He is with a mid-size firm and is known as a talented, up-and-coming broker. Using open-ended questions, mine for the push factors that may cause him to leave his current firm. Goal: To mine for the motivation and close for the second meeting. RM should layout the focus of subsequent meetings (technology, team building, meetings with division manager, product specialty director, top producers, etc). Scenario 3 (First Meeting): You are recruiting a loan originator from a well-respected, boutique mortgage brokerage in the market. He is a 10-year veteran and ranked 3 rd on his team. He receives company leads but generates the majority of his own business. Goal: To mine for the motivation and close for the second meeting. RM should layout the focus of subsequent meetings (technology, team building, meetings with division manager, product specialty director, top producers, etc).

43 BREAKOUT Scenario 4 (Second Meeting): You are on a second meeting with the multifamily agent from Scenario 2 above. Using the information gathered in the first meeting have a conversation regarding technology, team building, etc while simultaneously accessing the target. Goal: To demonstrate the value of association and get a commitment to receive production history. Scenario 5 (Onboarding): You successfully recruited a talented retail agent with 3 years of experience from a small regional firm! Great job! Training at his previous firm consisted of a one-day crash course in sales. Nothing more. Goal: To provide a clear roadmap for the agent s onboarding. Consider the following: Does he have a business plan? Where will he sit? Will he receive a private office? How often will you meet? Will that meeting be an activity review, team meeting, or some other format? Will the agent attend training?

44 Recruiting Experienced Agents BEGIN BREAKOUT SESSIONS RETURN AT 11:50 AM

45 Leadership Conference March 20-21, 2017