BreakAway Agent Podcast Episode #22 With Richard Kallabat with Miami Living at Keller Williams in Miami, Florida
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This episode of The BreakAway Agent Podcast features Richard Kallabat, CEO and Luxury Home Specialist with Miami Living at Keller Williams Miami. Starting with a background in financial consulting and other management positions, Richard found a home in real estate. Real estate helped mesh together his entrepreneurial spirit with his passion for helping others. Both he and his wife are both heavily involved in the Keller Williams model. In addition to the office he owns and manages in Miami, Florida, Richard Kallabat and his wife co-own 6 growing offices in Columbia.
Working with clients all over the world, listen now as Richard discusses how he assists his clients in achieving their goals and realizing their dreams.
Why Having Good Systems Is The Key To Real Estate
No matter what level you’re at in real estate, you’ll always have challenges to face. Richard Kallabat faces each challenge with three different solutions – people, systems, or tools. Read on for how these things have helped him grow his business and define his superpowers.
Getting Your License Is Like Graduating From High School
Richard Kallabat starts off by saying that getting your real estate license is just the beginning. Like graduating from high school, you have the basics down. After that, the real education process and training begins. Some people can accelerate that program and basically get a Bachelor’s Degree in Real Estate fairly quickly.
It all depends on your level of commitment, your dedication, and your motivation to be successful.
Richard Kallabat Focuses On Being A Great Consultant
Being a good consultant comes with his life experience. He likes to tell people that if you can only focus on one thing to help you grow, it would be to focus on yourself. We loved that he said, “Your business grows to the extent that you do. And what that means is, the smarter, and faster, and stronger you are, will show up in your business.”
Typically in real estate, there are always things you can learn and grow from. Richard has learned from Keller Williams that learning how to communicate with his team and being a better leader has not only helped him grow but helped his team grow too. Being a great consultant comes down to sharing knowledge and being willing to learn from the people you’re consulting. Becoming a teacher has helped Kallabat master the industry and build a better business for himself and the offices that he co-owns.
You Cannot Be Afraid of Failure
Tiffany Youngren and Richard Kallabat talk about common traits that successful people have when coming into real estate. First, they discuss that real estate is more than just loving people and loving houses. There is a mindset that Richard looks for, and it is simply the acceptance of failure. More often than not in this industry, things will not go your way, and you have to be prepared for that. You cannot be afraid to fail and you definitely can’t be afraid to grow.
He says that bravery and courageousness that comes with being an agent goes hand in hand with knowing that it is ok to get knocked down, as long as you’re willing to get back up again. Richard says that taking action is a huge part of real estate. Though it is so important to stay educated, he sees agents who want to know EVERYTHING, simply because their greatest fear is not knowing the answer if someone asks them a question. Don’t get caught up in analysis paralysis! Instead, take action, and learn along the way.
The Key To Getting Referrals Is Having A Good System
Richard Kallabat advises every agent to build a good system in order to gain referrals and build your database. He leans heavily on systems and the CRM that Keller Williams uses to help make sure that his clients are reminded of him and his team. From sending newsletters to giving gift cards and other gifts, it is really important to maintain contact with your clients and leads.
Your current clients can be your greatest referral base. What are you doing to maintain those relationships? How can you better organize your CRM to make sure that you’re not missing out on future deals?
The Age Of The Internet Is Changing Real Estate
There is no denying that the age of the internet has had an impact on most industries – real estate including. People are no longer as eager to drive around to open houses or spend all day looking at houses in person. Instead, they go to the internet to find out as much information as they can. Time is a luxury, and most people won’t invest their physical time if they don’t think that time will be well spent.
Are you effectively delivering enough information on a property or listing? Your online listing might be a key factor in making or breaking a deal. Richard goes on to say that he helps boost his listings by using lifestyle drone videos that give a better description of what it would be like to live in that particular home or property. It comes down to selling the lifestyle and focusing on what life would be like for each client. For first time home buyers and younger families, they want to be close to schools or hospitals and have room to grow. Empty nesters are looking to downsize, and are looking for convenience and entertainment options close by.
Daily Rituals For Every Day Success
Richard Kallabat says every day he checks his CRM. He gets to check up on clients as well as agents, and look for successes and areas of improvement. Reporting is one of his favorite things to do. Looking for patterns, adjusting systems, and learning more about how he can help his team improve is how Richard stays a top producer in his area.
He also encourages agents to keep doing the right things. With managing a CRM properly and constantly looking a success reports, there are certain things that he KNOWS works. He sees a lot of agents get discouraged when they don’t see immediate results. Richard warns agents to not give up and stop doing those things that are proven to work overtime just because you don’t see results right away. Your next transaction could be just one phone call away.
Luxury Home Selling Mastery – A Book By Richard Kallabat and Top Producers
Richard Kallabat has around 20,000 connections on his LinkedIn profile, something he’s been working on for years. Because he believes in putting out what you want to receive, he listed on his profile as being a “future bestselling author.” A publisher stumbled upon his profile and reached out, asking how soon he wanted to become a best-selling author. It turns out that this publisher was working on putting together a book that features chapters by different top producing luxury real estate agents.
The book includes different experiences and short stories about client encounters and more. Stay tuned, as the book releases in June!
Rapid Fire Answers
Time Blocking Tool: Google Calendar
Favorite Technology: Smartphone
Sales Pipeline Management: Chime
Transaction Management: Dot Loop
Favorite Book: Leadership Books By John Maxwell or The Millionaire Real Estate Investor
Overall Mentor: First person to give him his start in Miami – Susie Lawson
Real Estate Teacher/Coach: KW MAPS Coaching
Favorite Training Resource: Masterminds, Events With Other Professionals
Most Underrated Resources In RE: The MLS
Last Minute Nuggets of Wisdom
Richard Kallabat says that he goes to a lot of conferences and networking/training events. He hears stories there from successful agents sharing their stories on where they were to where they are now with lots of “here’s what I did” excerpts. Richard wants to make sure that when he is training agents and helping them, he is just telling them what to do but HOW to be successful.
Immediately when starting the business, you have to learn how to do marketing. Right away, spend money on a CRM to help you formulate your leads and stay on top of your clients. It is the most cost-effective way to make sure you are staying top of mind and continuing to build your database. From sending out newsletters to building informative videos, find out what works for your market and then do it!
To summarize, Richard Kallabat says to:
- Go find a CRM or system to help you manage your database and market to them in the most efficient and cost-effective way
- Build a marketing campaign that makes sure you stay top of mind and reaches your target audience (newsletters work the best for his market)
- Continue to build and nurture your database – every day you have to spend time committing to adding people