EP.36: Interview With Verl Workman
Verl Workman has been training and speaking directly to real estate agents for twenty years. His first company he sold to Homes.com during the .com frenzy and went on to raise seventy million dollars for it.
He used his successful sale of his company to get on as many stages and possible and start helping as many agents as he could utilize any kind of technology that was available to them. His main goal was to help real estate agents understand that they needed websites, which were the latest and greatest technology of the moment. Highly successful with equipping and motivating those agents, Verl was greatly let down when he would see those people a year later and see that they had not implemented anything they learned.
Still with the aim of helping as much as he could, Verl started a new venture where he could help streamline some of the agent’s processes, specifically in the format of teams. He notes that the consumer is trained to deal with teams, and real estate is no different. Each part of the real estate transaction requires interaction with experts at every level. Consumers don’t want to have surgery from a surgeon who only operates seven times a year, and so Verl applies that logic to the setup of a team. A buyers’ agent who only deals with that part of the process fifty times a year is much better equipped than their counterpart.
Workman Success Systems, his namesake business, teaches agents how to grow through successfully implementing systems. That comes to life in a few ways. The first is simply through tracking activity. “That which you don’t track doesn’t get done,” he says. Once clients have got enough data to start decision making, he urges them to cut expensive activities and focus on those with a decent ROI and begin to grow them. The last point he makes is to start leveraging money-making activities. This means scale and grow!
People tend to confuse growth and scaling with simply needing more leads. Verl teaches his clients to focus more on activities than leads, as a person’s activities are something they can be accountable for. Once activities are quantified, clients are able to do a little math and work backward to exactly what they need to be focusing on every day. Workman recounts several examples of clients where this was true, and shares his three strategies to focus on:
Top 50 Referrals- Who are the top 50 people that you can count on to refer one transaction to you a year? Focus on those relationships.
Work Listings to Create More Listings- if you know your statistics on conversions with your listings, how many transactions should come from each of your listings?
Geographic Farming for 18-24 months. Workman teaches that the best momentum comes from being present for up to two years and continuously crafting new messages to a specific group of people.
Verl closes with this; “Selling is serving.” He notes that if you do not ask the right questions you will never know the true needs of your clients and you will not be equipped to serve them best.