Wealth Building Through Profit Share – Jeremy Williams Wealth Building Group April 2013

Wow…just over $82,000 in profit share was shared back to the agents this month by Keller Williams The Woodlands and Magnolia. I would like to thank each and everyone of you in my group that contributed towards profit that was distributed yesterday.

I would like to welcome to the group this month Cherie Ursic, Cindy Munnerlyn, Courtney Schexnayder and Nahkeetah Jackson.

Members of the group that contributed to profit share were:

Cassidy Merwin (KW The Woodlands and Magnolia)

Rebecca Jenkins (KW The Woodlands and Magnolia)
Robert Delaneo (KW The Woodlands and Magnolia)
Alina Winford (KW The Woodlands and Magnolia)

Hiu Tan Chan (KW Houston Memorial)

Look for future classes that I will be teaching on how to grow your profit share. I would like to thank you for choosing me as your sponsor. If you have questions about growing your wealth through profit sharing opportunities, contact me to schedule a meeting. This is an opportunity you can’t miss!

I would like to share a quote from one of my friends that understands the power of profit share, Aaron Kaufman.

“The very best savings accounts offer a 1% annual return on your savings. For every $10,000 saved, you earn $100 a year. My April 2013 profit share check, was the monthly passive income equivalent of me having $6 million in a savings account at 1%. Think about it….. #TheKWEffect”

I have attached a great flyer to share with those you may be working or networking with from other companies. For those in my wealth building group not at The Woodlands office, you can get the numbers from your team leader. This tells a great story about our company and the success of our agents.

I would also like to share with you a great explanation of how the profit share model works. Check out this short, 7 minute video http://www.youtube.com/watch?v=34PNY26-fr4

Until June 21st, may you find success in your business and live a life worth living.

Date of Execution | Certified Funds with Lease | Conversation Logs | No Verbal Agreements – A Michael Clapp Dagnabbit

There have been a few other issues this week that I’d like to cover:

If a form has a date of execution (next to where a client signs) it need to be dated or the document will be returned.
If you’re working on a lease, I would encourage you to put language in Special Provisions about how the first month’s rent must be in certified funds and payable to the listing brokerage – all future payments are to be remitted to the landlord.
Conversation logs are really important. Your memory fades as the transaction progresses. I’ve been dealing with a transaction where it is really important to know what happened on which date and the agent is trying to “remember”. If notes had been taken in the file it would be much easier and strengthen our position.
A deal is never a “done deal” until all of the documents are received, signed by all parties, and delivered back to all parties. There are NO verbal agreements. We’ve been having some recent issues with clients “changing their minds” after coming to a verbal agreement. Once docs are presented they’re refusing to sign – that doesn’t feel good. Please make sure that all parties know that until the other party signs off – they really don’t have a completed deal.

Buyer Tenant Representation Agreement and an Intermediary – A Michael Clapp DOUBLE Dagnabbit

I have repeatedly made the statement that a written BUYER/TENANT REPRESENTATION AGREEMENT is required when you’re in an INTERMEDIARY. Here is the definition of INTERMEDIARY:

You have the buyer and the seller.
You have the buyer and the other agent at KW Woodlands, KW Northeast or KW Professionals has the seller.
You have the seller and the other agent at KW Woodlands, KW Northeast, or KW Professionals has the buyer.

No, the Notice of Intermediary alone is NOT sufficient. The first sentence
in that form says “as previously agreed in writing”. The only previous place
clients agree in writing is in the listing agreement or a BUYERS REPRESENTATION AGREEMENT.

We just launched this summer a simple 2 page agreement for you to use and
it is on the office intranet, in ZipForms and in MyTransactions. There are
NO excuses.

Now, if you turn in a deal and it is intermediary and you don’t have a written
Buyers Rep Agreement - Compliance and the MCA have my permission to hold your commission until one is presented. Don’t be mad and them – be mad at the Texas Real Estate Commission and your Legislature. Neither they (Compliance or the MCA) nor I write the LAW.