Learn. Improve. Succeed.

Property Management Mastermind Show

#136: Middleton Elite Coaching

Mar 09, 2022 by Brad Larsen

We are seeing a shift of emphasis in the property management industry that is making sales more important than ever before. Bill Middleton and Debbie Lariviere of Middleton Elite Coaching join Brad Larsen to talk about training sales representatives, coaching sales reps for best results, and just how much growth you can develop with sales done right! Learn about the power (and profit) from real estate sales networks in this episode of the PMM podcast!    Bill Middleton and Debbie Lariviere launched 'Middleton Elite Coaching' in 2018 and they are passionate about helping others define their specific level of success, and create action plans for exceeding their goals! Through their customized coaching programs, see how MEC can increase your company's growth at  www.middletonelitecoaching.com.    Get your tickets now to the 2022 Property Management Mastermind Conference in Las Vegas to hear more from incredible speakers at www.pmmcon.com

Brad Larsen: Hey everyone, the property manager mastermind conference twenty twenty two is going on at the Red Rock Resort in Las Vegas, Nevada. Go to PMM.com to learn more and sign up. 

Announcer: Welcome to the property Management mastermind show with your host Brad Larson. Brad owns one of the fastest growing property management companies in San Antonio, Texas. This podcast is for property managers by property managers. You'll hear from industry leading professionals on best practices, new ideas, success stories and lessons learned. This is your opportunity to learn about the latest industry buzz surrounding property management, as well as tips and strategies to improve your business.

Announcer: Property Meld is a smart maintenance coordination solution proven to turn maintenance headaches into profitability. Our Maintenance Coordination Hub connects all property management companies, key players in one location, providing maintenance, oversight and efficiency to property management maintenance teams. Our solution streamlines communication throughout the coordination process, resulting in the oversight and efficiency property managers need to create a profitable maintenance operation. Property Mills delivers property managers with a positive maintenance experience. Check out more information at Property Metals.com or reach out at Info ET Property Meltdown

Announcer: Resident Interface is a comprehensive delinquency management solution for property management companies that serve rental properties, with over five hundred units located in Florida, Georgia, Maryland and Texas, Resident Interface offers property owners and managers of financially transformative end to end delinquency management experience, where a single contact responsible for the entire process, from late payment to eviction management and final debt collection, and we help increase net operating income through technological innovation, operational transparency and respectful recovery procedures. Learn more today at Resident Interface.

Brad Larsen: Welcome everybody to another edition of the Property Management Mastermind podcast. I'm your host, Brad Larsen and today's guests. I've got a couple of fantastic sales consultants who have personally and been intimately involved in my company at networks in San Antonio. And so the purpose of this conversation is we want to talk about what they've done for networks, what they do as a broader base consulting service for real estate sales and how they're going to tie into the Property Manager Mastermind conference in twenty twenty two doing a four hour seminar. So this is going to be a fantastic combo because I think it puts everything in a context. Not only am I eating my own dog food, as I say, but I'm also going to say this is a very, very needed thing for the industry. What's going on in the industry is we have shifting toward sales sales, shifting back that all circles around a property management. And so we made the big decision in twenty twenty one to ramp up our sales division. So basically, we went out and hired a couple of agents and Debbie has trained them. And so she's been working in the networks for going on, what, nine months now, something like that. So without further ado, I'm going to introduce Debbie and Bill and let them kind of tell us who they are, what they are. Debbie, you get to start.

Debbie Lariviere: All right. Hi, I'm Debbie Lariviere. And like Brad said, Bill and I work together as partners in Middleton Elite Coaching, and I have stepped in to help Brad create, launch and be successful at the sales side of his business versus just the property management side. So there's so much money out there, they don't leave on the table and we're going to go in and maximize it. I'll turn it over to Bill to introduce yourself.

Bill Middleton: Yeah, thanks, Debbie, and thanks, Brad, glad to be here with you guys. Founder of Middleton Elite Coaching got about 15 years of experience in this business. Thankful to be partnered with Debbie in it, and we specialize in building and coaching real estate sales teams, brokerage firms, property management companies and other businesses that are mostly tangentially connected to real estate. So fancy doing that in a customized approach, and we're excited to be here with you that

Brad Larsen: Often appreciate guys. So let's just kind of paint the picture a little bit more on the network side to give you, give the audience some context of what's going on. So we were we're a property management company in the San Antonio region. We needed a sales division that was able to step up and do more. So basically, we needed some, some good agents and then we also needed some consulting because we were seeing the worst thing ever was when you manage somebody for five years or whatever ten years and they turn around and hire the agent they met at the grocery store, right? And it's it's maddening because you talk to the owner and say, why did you choose such and such agency? I don't know. She just, you know, I like that person. I like that guy. I'm like, OK, do you know we do sales? I didn't know you guys do sales. That is a crushing moment. And so that was happening more and more. And you think that you you tell people up front, Hey, we do sales or even if it's in your management agreement, it's not always something they truly bear in mind.

Brad Larsen: And so whose fault was it? It was ours because we got to get in front of those owners on a consistent, consistent basis, and that takes a good agent with a good follow up system to do that. So now that I've kind of another thing, another stat. Debbie, help me out here. Remember, this is we were only capturing maybe 10 or 20 percent of the sales. I mean, it was an abysmal number. And so when you talk dollars, it was gross, disgusting, sickening what was leaving the door versus business that we could have captured. So our goal was to flip that to basically have a 10 or 20 percent non capture rate, like where we could capture 80 percent of the business. So I wanted to paint that picture a little bit more to kind of give you a leeway to jump in and talk this through what you've done with rent works kind of where you started and where you have gone and where you are now.

Debbie Lariviere: Yeah, absolutely. So, you know, Brad, these numbers are interesting because I've been pulling these from your actually your company. And in twenty nineteen you closed seven deals with all of your sales side and then twenty twenty eleven deals. And then in twenty twenty one, just in the four months that we had Damien in place, running the systems and layering in additional tools and that sort of thing that we're helping to grow the business we've closed. We closed 20 deals in four months that netted one hundred and fifty six thousand GCI. Fast forward that to January and quarter one. As of right now, if we don't put anything else on the board, we'll close about twenty five deals, putting in about one hundred and seventy thousand GCI. And it's it's just by taking some of the things that we already have and doubling down, but then layering in some additional systems. So part of it, like you said, was training up the sales staff, helping them understand lead generation levers, conversations they should be having with the both the owners and the tenants and putting some systems into play there. So from an owner side, one of the quickest things that we've been able to maximize on our owner surveys, do they want to sell? Do they have any intention of selling? Do they know what their properties are worth? And on the flip side of that, do they want to purchase additional properties because we look at it as yes, it's gut wrenching when we realize that they went sold with some other agent, but then it's just as equally as gut wrenching when they come back and say, Hey Brad, here's three more properties I just purchased.

Debbie Lariviere: I want you to manage those for me. So really digging in on those owners for what their future real estate goals are, we have them fill out surveys. We did it as a mass batch to start with. Now we're doing it every time I lease turns over what they want to do with that specific 90 days ahead, what they want to do with that specific property and what additional buying needs they have and then doing the same for the tenant side. So I know we've implemented several items on the tenant side. One, Do they have the dream of home ownership? And so giving them a survey as they're filling out the lease to how long would it be before they want to buy? Why are they not purchasing now? Is it credit repair? Is it down payment and helping connect them within some of our additional seminars that we're layering in? So they're preparing themselves for home ownership and then also offering them incentive programs that you put together a great incentive program for your tenants to be able to buy out of their lease or purchase that home sooner. And then we just turn it back over because rentals are easy to fill right now.

Brad Larsen: So an easy way to understand this is kind of what you guys do is sort of equivalent to what Brian Hughes does with the mastermind. Now, help Brian get his start. He used to work for rent works. He did business development for us on the property management side only for three plus years at rent works. And then we helped him launch the Biz Dev Mastermind and he's been doing that for several three years now now. I'm going with that is you do a lot of what he does because backing up a little bit, you identify what kind of an agent you want, right? You put together basically a employee type description, you identify a compensation plan. Can you help us advertise on screen for that particular agent? And then the training begins, so you actually help us from A to Z? You find the agent to help us find the agent and then we hire them and put them in the right incentive. Now you touched on something very cool because I only touched on half of the sales side. I mean, we're talking in current investors that you have, you have pocket listings, you're selling homes to your tenants, you're selling homes to referrals on both sides, owners and tenants. There's so many touches that is going on, but it requires a full time agent or two or three to really accomplish this because there's just a lot going on.

Brad Larsen: As again, property management is the epicenter of real estate. You have tenant applications, you have existing tenants, you have owners, you have investors, you have owners leaving, you have investors coming in all of the above. And so I wanted to give you a little bit further context on that because it's not just like, Hey, we're going to train your salesperson, we're going to help you hire the salesperson and then we start the training. Now I've got to think the metrics that you mentioned. I don't know if they were that bad at 19 and 20. I got to go back and look at those numbers, but I know you've made a significant big time increase for twenty one. We only had really, what, four six months, four to six months in twenty twenty one with twenty twenty two. I expect the fantastic year, the two gents that we have in place and we're adding three or four more as we go. They're doing fantastic and they're making the dial for dollars. This is a lot of it. What it is is just simply picking up the phone and saying, Hey, I'm so-and-so from the organization that manages your home. Have you thought about buying or selling or doing anything in the future, et cetera? Open the dialogue, start the conversation and you never know what comes back from that. So keep going from there.

Debbie Lariviere: Yeah, no. I think that's a great point on the hiring is continuing to build that sales staff, because that's what we're running into now is who's next and figuring out who that ideal candidate is to step in and help your team and get that person underway. And when you say dialing for dollars, I think for some of them it's first of all, where's the low hanging fruit? Because, like you said, we have a tremendous amount of low hanging fruit. And then at the end of the day, what else can we layer in? So working with our team to then also say, Hey, we're not just a property management company that has a sales division, we also have all these people on our staff that have spheres of influence, right? So what are we doing to bring in the people they know and put them into the the various systems that we're running? They may not even have investment properties, but they may need to buy and sell their very own million dollar property, right? So now we're taking a step back and saying, OK, outside of just our our normal scope of business, where else can we layer additional deals that I mean, it's sale works, right? You don't have to have property management to work with our team that's extremely experienced.

Brad Larsen: So well, let me switch and give you a chance to talk about it first. I got to say that I got to throw out the rent WeWork's new slogan Are you ready for this? I've been saying this for years or for months and months. We turn owners into investors, I guess I have to say with a giggle because it sounds so cheesy, right? But it's it's kind of true and a little bit of fashion, but, you know, have some fun with it, right? So Bill, give us kind of a little bit of background with who you are, what you do as far as what your intro was, what kind of how this ties in to what you and Debbie work with?

Bill Middleton: Yeah, I think what's unique about the really smart moves that you've made Brad and bring in Debbie on board and building the sales team is in most of my experience, has come at it from the other angle. We're fortunate to work with the top five percent, oftentimes the top one percent in real estate sales teams or in real estate brokerage firms, where in 20 states and Canada right now. And most of our folks come at it from the sales side and then backfill with property management, you're actually done the reverse. You've built a huge property management company and you're back filling with the sales side. And I think perhaps for some of your listeners, they've considered that before. And inevitably that leads to what do I do next? You know, not to get too deep into this right now unless you want us to. As part of what we're going to be covering at your conference is you've discovered now that you've built a great property management division and you want to continue to grow that. And now what does it look like to actually build a sales team to augment that? So it's it's a very sequential process, probably much like the businesses that each of your listeners have built. And at some point in any market, you're going to reach a diminishing return on market share and whether that's in a business vertical or that's in an actual market itself. So so part of what I think is is probably most intriguing about this for us is you're excelling in one particular area and then you're saying, here's a here's a natural next step. Here's a natural next business vertical one hand feeds the other. The mechanics are largely the same. It's just another set of. People in another set of skills, and that's what you're unlocking with with Debbie, they're at sale works.

Brad Larsen: That's interesting, too, because we actually use lead simple, which is exactly what we use for the business development side on the property management section. So they do tie hand in hand with each other now. You kind of glazed over this. I want to really elaborate on this. You guys are working with some of the absolute best real estate firms and the best teams for a decade plus. Right. And I want you to kind of go through that because and we're talking millions and millions and millions in commissions with some of the absolute top five top 10 teams in the country. I don't want you to skip over that because we're learning from you and you train the best. So elaborate on some of that.

Bill Middleton: Yeah, I'll touch on that quickly and then then pass it back to Debbie to fill in on it. You know, we're very fortunate to be a line, like you said, with a lot of the top people across the country combined, our clients did almost three billion in sales volume last year. So very proud of the work that we get to do every day with them. And I think probably the piece, at least for now that I would drive home, is that the the starting of this business venture, i.e. building a sales team is the same as it was when you began building your property management division. It starts with making sure that you've got some sort of a predictable lead source or a way of generating business, and then you're going to build some administrative support around it, and then you're going to make sure that your training, coaching and consulting of those people is really buttoned up and then you wrap all that up in your corporate culture. And sometimes I think people might get a little hung up saying, Well, I don't know what are the next fifty two steps that I need to make. And sometimes it's just about bringing someone in who understands how the puzzle fits together and says, Let's not worry about the next fifty two steps. Let's worry about the next two or three in sequence that we need to do to get you to that, that intermediate or longer range vision that you have for your company.

Announcer: If you were looking to enhance your tenants movement experience, cut down on phone calls or emails to you or your staff regarding utilities, then you must connect yourself, your team and your tenants with Citizen Home Solutions. Citizen Home Solutions takes the hassle of utilities off your hands and your tenants. Best of all, we do it for free. Build us into your tenant benefit package. Oh, and start benefiting from our revenue share program. Yes, we pay you a quarterly commission on specific services your tenant opts into. Want to know more? Give us a call today at eight seven seven five two eight three eight two four or visit PMC partner.

Brad Larsen: But Debbie, I want to throw this at you here, because we've talked about this in the very beginning about some property management companies. They have a fear of doing sales because they don't want to tick off their referral sources. So backing up a little bit. Some of the management companies that we see are deal with out there in the industry just have made the decision consciously. You know, as a business decision to not do sales, they ask for referrals from all their their realtor partners left and right, and then they just do management. And I think that's shortsighted. I think they're missing the absolute boat on revenue and control. And so I wanted to throw that out there. Now that you've seen this firsthand, comment on this, Debbie, you kind of say, what were you? What would you tell somebody at our conference? And they say, Well, I only do property management because we don't have a sales division. Well, why not? You know, you dive into that. So what would you go take somebody down that road to kind of have that conversation with them?

Debbie Lariviere: Yeah, I think it's first of all, look at the money left on the table by not having a sales division. I mean that hands down. I mean, I don't know. Do you want three hundred thousand extra in your pocket at the end of the year? I think I probably would, and you might take one person off and well, I can do that without even three hundred thousand. So that's pretty easy, I think, to it's looking at how do we create a partnership with these agents, right? So I know you guys have some that agreements that if they come in, they could get a referral fee if they go back out or they're referred. Here's what we do know that only 20 percent of the agents actually stay in the business. And so if you don't have a sales side and you're managing someone's property for five to 10 years, chances are their agents, not even in the business anymore, to give them back. And now you've just lost the opportunity. So there's one side of it. The other side is I look at it as a full service type of experience. Your clients get to witness, right? So if I come in and I love you as a property management company and you're truly fulfilling everything I need from a property management side, why wouldn't I think that you could do that on the sales side, right? So maybe I bought with Agent X over there.

Debbie Lariviere: However, now you're calling me and saying, Hey, I have this great deal. We've got a landlord over here who's getting rid of a property. Do you want it right? And we can facilitate that deal. So I look at it more of a offering of a full service type of experience by putting that sale site out there, then a I don't want to take somebody off because again, it's like the few people you might tick off. You know what? They don't have a property management company, either, so they're not offering full service. So how can we go maximize on there? And I think agents are a great place for Leeds because there are a lot of agents out there who don't have access to really great property management companies at the same time, you know, helping buy another deal or helping turn another property. It's just it's adding to your bottom line.

Brad Larsen: So I think let me elaborate, let me elaborate on the word control and where it actually fits in to what we do. So in context, what happens on the control version is there's two ways owner and tenant and the owner side you want to control that owner who wants to go buy another investment property because they're going to come to you and say, Hey, you know what? You've been doing great for for five years. I came into a little bit of money. I want to go buy another investment property. Can you help me if you said, No, I can't go down to Johnny Realtor. Well, Johnny Realtor is going to sell them a property and they could care less what it rents for. They could care less about the Makeready cost. They're just trying to make a sale in 30 days and be done. So you lose control in doing that. And we tell our owners, Hey, look, we're going to sell you an absolute gem because guess what? We're going to manage it. We're not going to sell you a dog and then wipe our hands and say, Good luck to you. So there's big control section on the front owner's side.

Brad Larsen: Now, on the tenant side, when a tenant wants to buy a home, it's better that they work through our company because we can control their exit much more smoothly to include any earlier termination fees and or when they vacate and replacing them sooner. Otherwise, guess what? They're just going to send you a 30 day notice and they're gone the end of November. So you have a vacancy now in December and or even January trying to refill them because they shocked you. They punch you in the face and said, we're leaving and didn't give you any notice. So the control factor there alone, it goes back to what we have as a mantra at rent works provide excellent service. This ties right into that in the owner's side and the tenant side. So I just want to throw that out there because, you know, when we say those words on the show, people people heard the word control air quote, Well, what does that mean? I like to explain things further and then that spurs a little bit further conversation. Bill, what do you think?

Bill Middleton: Yeah, I think you make a great point on this, Brad, to go back a half step for just a second. The other thing I hope that your listeners would consider if they haven't got into this mode that you're in yet is just look at the potential profit margins of this business. And you know, you've got a great recurring revenue model business in property management. And then the initial phases of building a real estate sales team is going to give you some home run potential, followed by recurring revenue potential. However, if we're just talking profit margins of the business, it's not out of bounds to run a real estate sales team at a 30 to 50 percent net profit margin. And when you're talking about big commission checks on the top line and 30 to 50 percent, depending on how you build out your org chart 30 to 50 percent net profit at the bottom line, I sort of chuckle because in a past life I ran a large private restaurant group. We had five restaurants in three 300 plus employees and we were excited if we could drive the margin to five percent. And now you come over into the types of businesses that we're discussing. It's almost a no brainer to your point about the the maintenance of the control with air quotes. I think what you're doing there is you're you're delivering an end to end experience, you're making it better for the consumer because you've already got the relationship, you've already got the trust. They know the quality of work that you do. And you could line that up across any industry. When you've got a seamless end to end high quality experience, there's no reason for them to say no to you and look elsewhere.

Brad Larsen: All right, so let's kind of roll this into Debbie in context. Tell us where you think rent works is going to go in twenty twenty two because I want to kind of finish the story of where we started with rent works, what you're doing with creating sell works, what you're doing with our two lead agents and then kind of where we are going the twenty twenty two version and then we can talk about the conference. I want you, I want you to wrap up what we're doing with the networks. Go ahead.

Debbie Lariviere: Yeah, I think I look at twenty twenty two layering in some additional people we do to hit the goals that we want to hit are going to add to the sales force right now if we look at it. Yet you're about a thousand doors. We're looking at about a 10 percent turn on that. So one hundred homes would be, I think, bare bare minimum. So if we could, ideally looking at goals, one hundred and fifty to two hundred homes bought and sold, that is where I sit four goals. I think that's probably stretching beyond the bandwidth of the current agents that we have. And so really leaning in on adding some additional talented people. So if there's listeners out there that are looking to partner with you, Brad, we were looking for some sales agents and we'd love to welcome them to the team.

Brad Larsen: It's interesting how you go about that. So how do we go about finding agents right now? I started several brokerages. You guys remember the old Exit Realty right there sort of still around. Well, I bought the first two franchises here in San Antonio, and you know, that was kind of an OK thing. It was 05 06. The market was still hot, but it wasn't what I was passionate about. And so I decided to leave that and went to Keller. So I've been at the Keller Williams for three years and then left and started Larsson properties and transition to rent works, et cetera, et cetera. So I've been in the market almost 19, 20 years going on. So where I'm going with this is, you know, I forgot where I'm going with that being it.

Debbie Lariviere: I do find ideal agent who

Brad Larsen: Is the ideal finding the agents. I want to give people the background they're recruiting. Recruiting is the worst, most difficult thing to do as any sort of real estate professional, at least in my opinion, because I probably sucked at it. But you know, where we go to find agents is another unique skill. We try to poach them off of Facebook. You try to do the LinkedIn, you try to do the ads, you try to, you know, there's all kinds of ways and it's and it's an art and a science, right? I mean, there's people that make a living full time recruiting agents, and it's just it's maddening. So just give me a couple of minutes, either one of you on recruiting and how difficult that monster is without the proper guidance. This is kind of why I'm driving people to look at you and look at your services, because probably a lot of the management management company owners, they would not know how to recruit at all. And so give us a few minutes about that.

Debbie Lariviere: Yeah, I'll go first and then I'll turn to you, Bill. You know, it's one of the more grueling things and I love it. Recruiting is one of my favorite things, and part of it is, like you said, because I do it well. I've recruited over three hundred agents and three years for Keller Williams franchise, and so I look at it as it's a relationship business and it's how well we deliver the value proposition because we're not looking for everyone with a pulse. We want someone that's talented, someone that shares in our core values, someone that's a doer that's going to get the job done. What are their skill sets? And as we help you and help others out there grow, we help them recruit and doing those interviews of who is the right candidate. We look at a business like yours. It is smile dial for dollars. It's not the person that says, Hey, I want to go sit in an open house and build my business that way and being OK to say no to that right. And so we're always looking for those people that are willing to step to the plate, get the job done, have high communication skills. When we hear them on the phone, we do the first interview via phone. They don't sound like they have marbles in their mouth, right? Because that's what your clients are going to hear. So I mean, it's the little things, and I think oftentimes we get to where we hire out of desperation instead of hiring out of what we are. Our future casting is or what our org chart looks down the road. And so building relationships with agents that are on the other side of deals. We want talented agents with experience. We don't want to teach them how to fill out a contract, necessarily so by us showing up and delivering a high level of service.

Debbie Lariviere: We're doing deals with agents that are delivering a high level service and now all we have to do is relay to them the value proposition of what we offer. And you look at what you guys have to offer. I mean, it's instantly people join teams and groups for multiple reasons. One of them is is leads. One is coaching, supporting, training and mentorship, right? And the other is the support and the systems. And then the fourth is always expedited growth. If I'm newer to the business and maybe I sold five homes last year and I look at you and you say I'm a right person and I can potentially go sell 50 homes next year. Sign me up, right? Go do the work. So I think for us, it's really looking at the core values of the organization and who the right fit is. Again, because we're not asking for them to go post open houses and do pop buys, we're asking for them to hit the phones. Talk to investors. I think that's a key thing to when you're looking at your ideal candidate for your business is the skill set, the knowledge around cap rates, return on investment, return on rents, those sort of things like we have to have some foundational understanding of cash flow and the communication and even what the market is in your area for. For investors, because that's a whole different conversation with an investor purchasing investment property than someone that's going to buy their emotional forever home, right? So it has to have someone, maybe it's a little edgy and that's what the investor wants, so

Brad Larsen: The lesson learned. Plus, learn on the public service announcement, gang. One of my pet peeves as a real estate agent is when you call up another agent who you know is an agent and they answer the phone. Hello. I hate that. I absolutely it drives me insane. I always answered the phone, Hello, this is Brad. You know you're a professional, right? You have to answer the phone, right? It's just little things like that in the recruiting and training. Bill, go ahead.

Bill Middleton: Yeah, I'll just piggyback on a lot of what Debbie's saying there. Brad, I know you and I are both baseball guys, and Debbie, by default is probably as well. So I'll use this as an analogy if I'm going to go build a business of any kind. The first question I want to ask myself is in what year do I want to win the World Series? I'm going to go build that intermediate or longer range vision for four when my business is going to win at all. And your answer is going to be different based on a whole bunch of different factors your time horizon, your risk tolerance, your personal financial situation. And let's be let's play both ends of the extreme for just a second. If my intention is to win the World Series next year, I have to go get a bunch of proven talent. Been there, done that, got all the T-shirts, people, and I have to figure out a way to recruit those people today. I've got to go side a whole bunch of free agents and I got to pay a whole bunch of money to do that. Or if I go on the other end of the spectrum and I say, OK, my time horizon is longer here, I'm going to go build a solid business for winning five years into the future or 10 years into the future. I make some different people decisions right now to stay in metaphor land. For just a second, I go build a farm system. I go recruit talented young people and develop them over time. Either of those boys will get you there. So, so for your listeners, the first thing I'd ask you to do is just consider your time horizon on building this. Presumably, it took you a while to build your existing property management business.

Bill Middleton: It's going to take you some time to build a sales business as well. And then from there, you're going to take people and sort of put them in three buckets potential emerging and proven and just very quickly on this. The potential is to someone. They've never done it before. However, you think they've got the high ceiling, they're going to require a lot of training and a lot of development early on. Yet they're going to be pretty easy to recruit because other people are looking for either the emerging or the proven. The emerging has done it before for a little bit. There's a track record of success there. Their training is going to be less yet. Usually they're going to be a little bit more difficult to recruit and or they're going to demand a little bit more in their compensation arrangement. And then you go to proven and we've already discussed those extensive background in that particular thing. Plug and play usually more difficult to recruit. Not impossible, of course, usually more difficult to recruit, and also requires a a more favorable compensation plan or more favorable opportunity into the future. So just to add on Debbie's comments of let's figure out who it is that we want first, let's figure out the time horizon that we're going to build. And then, contrary to, I think, the limiting belief about recruiting. Once you line those things up and you're clear about what your value proposition is, it's the exact same mechanics that you use to build whatever business that you're in now. You need prospects and then you need prospects who match your recruiting or your value proposition. And then assuming that the timing is right, all of these things come together.

Brad Larsen: This ties in perfectly for us to discuss the Property Manager Management Conference and what you guys are going to be doing in the seminar there. So Monday, May 16th, Monday afternoon, we have the good four plus hour seminar you guys will be putting on. Essentially what we did is last year, gang, if you remember at the mastermind conference, we did a Biz Dev seminar, which is all business development for property management. These guys are going to be doing a sales type seminar to help you understand selling homes and what they offer in the service and what you can do to build your your sales division. They're going to give a lot of the secrets away in person, right? They're going to a lot of the secret sauce are going to come across in that conference. It's not like a big, long commercial. It's going to be this is what you do. This is what you do. This is what you do, and it will be an overwhelming deal. And so this is where they can. You can work with them later on. You can you can engage with them later on to come in and say, All right, we're going to help you from absolute A to Z to build out your sales division, set it up correctly. Recruit the right agents, compensate them well, you know, pick up all those low hanging fruit ideas. And so I want you to talk about a little bit what you're doing with the Mastermind conference in this seminar, kind of where this is a four hour plus seminar kind of talk us through how that's going to look.

Debbie Lariviere: Yeah, I think spot on, Brad, it's soup to nuts on what this could look like for all levels of audiences. So if you're someone that is just kind of thinking about starting a sales division, we'll have some nuggets for you guys. And how do I put together team agreements? How do I what do I need to have in place for onboarding? What's my checklist look like before I get started? And then we may have some people in the audience that have a semi sales division where they're working, both property management and sales, and they they kind of play in both sides. So how do I transition to have a stronger team? And with that, we'll be talking about actual systems and tools like a home bot and surveys and that sort of thing that we've implemented with yours to take you to the next level. I'm recruiting will be a big part of it. We'll be talking about walking you through how to recruit who to recruit questions to ask. We'll leave you with some additional information that way so you can walk out of that room and feel more knowledgeable about how to recruit and what that looks like.

Debbie Lariviere: And then we may have the person that says, Hey, I've got a sales division and I've got property management division. I'm trying to figure out how to exit. I want to become Brad Larson by golly and ride around in my RV and know that things are happening because I hired this great group of coaches over there and I'm checking my bank account each month. And I think there is something to be said for the exit strategy, because that goes to what Bill said about winning the World Series. At what point do you win the World Series and get to go sit in the bleachers next year? So we'll be talking about some of that too. I know that for the newer people, maybe a little far stretch your big picture, but at the same time, I think we all have to start with the big picture. So looking at everything and anything will definitely leave you with some really great nuggets and some take home action items to go and start working on if you're not ready to get started coaches and coaching, and if so, we'll be there too. What I miss, though,

Bill Middleton: I think you hit it all, actually. I mean, I think the biggest piece that I drive home on this for everyone is that no matter where you are, we're going to help you understand what the next steps are in that sequence. We approach this with each of our clients as if there's a there's a point in the future which they want to have the ability to choose, whether they work or not. So if you want to go sit on a beach and a Caribbean and drink umbrella drinks great. And if you want to stay in it day to day because you love it, great. Either way, there are mechanics and financials and org charts to get you to where you want to go. We're going to help your attendees design that for them. This is not theory. This is like, let's pick a point on the horizon and then let's backfill to today. From there and to Debbie's point, they'll walk out with some action items that can move them in that direction.

Brad Larsen: Fantastic stuff. I'm very excited about that, and I want you guys to kind of give away what's going on as far as how they reach you. Give us your website email. Best way to get in touch with you.

Bill Middleton: Yeah, your listeners can find us at Middleton Elite Coaching, or they can find me bill at Middleton Elite Coaching Dot Com or Debbie Debbie at Middleton Coaching. We'd love to help you perfect.

Brad Larsen: So wrap this up Gang Property Manager Mastermind Conference Twenty twenty two our Monday afternoon, May 16th edition is going to be this awesome seminar you guys will be putting on. And again, I'm just I'm super excited to have you guys doing this because I think what you've done with networks has been fantastic. I'm super happy with where our direction is and I want everybody to learn from what we've done and then how they can apply that to their own business. That is the spirit of the Mastermind conference, in a nutshell. So I'm going to close this out and say, thank you guys for coming on the show. Really appreciate your time here. Look forward to seeing you in Vegas here in a few months. And stay safe. We'll talk to you soon.

Debbie Lariviere: Thanks. Thanks, Brad.

Brad Larsen: Hey Everybody wanted to make sure you know about the Property Manager Mastermind conference here in twenty twenty two going on at the Red Rock Resort in Las Vegas, May 16 through 18. Go to PPMC to learn more and sign.

Announcer: Hey Everybody, this is Brad Larson, I want to talk to you about a new podcast out there that I would highly recommend called three hundred to three thousand. How to grow your property management company to scale one of the hosts is Matthew Whitaker. He's a good friend of mine, have visited their operation and I really, truly respect what GK Houses has done and they are still doing. They are experts at growing at a fast scale into a large scale business, so expect to hear the real world truth about all the mistakes the company has made growing into it. And all the good things are doing again. Go to three hundred to three thousand this or website and catch them on iTunes, Spotify and or Stitcher. Look forward to hearing from good things from those guys. Take care!

Announcer: This has been a podcast episode by Property Management Productions. Be sure to subscribe to our podcast, leave us feedback and come back for our next episode.

Follow Us

Get notified when a new episode comes out!

Like the Podcast?

Review Us!

We want to hear from you. Help us improve.

About The Host

The Host of this Podcast is Brad Larsen from San Antonio, Texas. Brad is the founder and owner of RentWerx, one of the fastest growing residential Property Management companies in Texas that currently manages over 700 single family homes.