A Look inside the Powerful Megas of Keller Williams Realty by Lori Ballen
Adam HergenrotherMega Agent with Keller Williams RealtyAVA 6941-7 - DISC - DI
I have not had the pleasure of meeting Adam Hergenrother in person. I have had the pleasure of hearing Adam speak on many panels and in interviews with Gary Keller. Adam is known as a Pioneer in the Real Estate Industry and he welcomes any new challenge that can launch him forward. Adam is also in My Facebook Mega Agent Group and was quick to help when I had questions about launching into another state. He is another great Mega living out the Keller Williams Sharing Culture.
1. What was your profession before starting real estate? I come from a finance background – first working as a
commercial underwriter and then a financial controller and interning down on Wall street.
2. Did you always know you wanted to have a team and work through leverage?
Yes. When I left the comforts of a steady job, assistant and personal office in late 2006 everyone told me I was crazy and that the market had crashed, business's were failing, banks were going bankrupt. The negative feedback I received fueled the fire inside me to prove to everyone that by surrounding yourself by more intelligent individuals anything is possible. I launched into real estate as an individual agent and had my first team member in less than 3 months, which was a buyer's agent (in hindsight, not the best course of action). I quickly received my first taste of leverage after my buyer's agent closed his first deal and I made $4500 on a weekend playing golf. From there I searched for continued training and education to push me personally and financially to the next level.
3. When you decided to build a team, what was your first step?
My first hire was a Buyer's Agent, though not the recommended course of action. I failed my way forward. I then hired an assistant out of desperation and made 3 bad hires, until I finally figured out that there was a process on how to hire, train and lead - Recruit Select. Having 3 buyer agents I made the decision to hire a sales manager who now runs my entire buyer division. The buyer division, while profitable, can and will take a lot of your time if you don't have someone in place growing it. Hire a buyer's manager and turn the position over to them and watch it grow. Leverage. Leverage has enabled me to expand my business into an additional market, Portland, Maine.
4. Who and in what position was your first hire? Was this a good hire?
As mentioned previously, it was a buyer's agent and while a great buyer's agent, it wasn't the fastest way to
achieve a highly efficient team.
5. What tools did you use in learning about team building?
I fully immersed myself in the KW culture and followed the model. MREA, Mega Camp, Agent Masterminds, RSTLM, Family Reunion, etc. were all valuable resources. I also spent a lot of time talking to agents who already ran successful teams – finding out what was working and what wasn’t, and then implementing and adjusting their strategies. It's called modeling. It should be emphasized and enforced in every aspect of your life.
6. Did you have any coaches or Mentors during this process?
I have coaches and mentors and people I model daily. If I meet or find someone that has things I want I find out what value they brought to this world in order to accomplish and achieve their dreams. I hired a coach who helped with the transition into growing and taking my team to the 7th level. When the student is ready, the teacher always appears. Take action.
7. How Many Members are on your team?
. We have 14 team members (comprised of management, administrative support, and agents).
8. Can you give us a brief summary (as simple or as detailed as you like) about the roles onyour team?
CEO – Strategic planning, lead listing specialist, Team Leader
Executive Assistant - Oversees other administrative support staff, creates, refines and implementssystems, tracking, manages websites & profiles
Listing Manager - Manages sellers from initial call to closing, takes photos, stages property, markets properties, weekly communication with sellers, etc.
Client Experience Manager - Client relationship management, e-marketing campaigns, cultivates database, event coordination, runs employee benefit program, blogging & social media
Administrative Assistant/Virtual Assistant – All online marketing for listings, other projects as needed
Sales Manager/Lead Buyer Specialist – Oversees all training and accountability for buyers agents
6 Buyer Specialists
9. Are you comfortable sharing your production in dollars and/or sides?
2011 136 sides $34 million
In conjunction with our Portland, Maine team we project around $60 million in production for 2012.
10. What would be your number one tip for agents that are starting to grow or are currently building a Team?
Model after success and never stop learning. KW offers an incredible amount of resources – take advantage of them. Talk to other agents who are running successful teams and find out how they’re doing it. Remember to look outside of the real estate industry. What are the Fortune 500 companies doing? How can you adjust their techniques to real estate? Read, watch videos, ask questions on Facebook. Knowledge really is power and you must be a voracious learner in order to stay one step ahead. Remembering that failing your way to success is crucial. I always keep my foot on the gas pedal, floored. I may hit a few things along the way, but will have enough money to pay for it. Fail your way forward and never forget that until you die....your story is never over. Never give up!
Recently Adam launched his newest venture: www.MindSparkIgnite.com. Adam Hergenrother founded Mind Spark, Inc. in September 2011 as a platform to continue teaching others how to harness the power of the mind to achieve maximum success. Adam is committed to helping others broaden their vision of the world and live a life without limits.
Mind Spark will challenge you to break free from mediocrity, take massive action and create change in your life. Learning how to harness your thoughts and condition your mind are integral parts of achieving your goals. With Adam’s guidance, you’ll learn how.Adam is a serial entrepreneur as well as a dynamic, decisive, results-oriented leader with remarkable foresight, driven to continuously bring businesses to the next level. By leveraging resources and understanding that the correct mindset was the key to achieving whatever goal he set, Adam has grown his companies to $100 million is less than 5 years and continues to diversify.
MORE ON ADAM:
Adam Hergenrother | Keller Williams Realty GMP | 553 Roosevelt Hwy #201, Colchester, Vermont 05446
Phone: (802) 488-3488 | Fax: (802) 419-3769 | Adam@AdamHergenrother.com
**About the Author – Lori Ballen is Mega Agent with Keller Williams Realty Las Vegas who has been building since May of 2011 where she has take her team (The Ballen Group) from 2 (she and her husband) to 14 at the time of this article. She uses the MREA (Millioanire Real Estate Agent) models as an operations manual and believes in “Standing on the shoulders of giants” which is why this series was created. Lori Ballen can be reached by e-mail at http://loriballen.ballengrouphomes.com/contact/ – on Facebook at www.facebook.com/lori.ballen – on Twitter at www.Twitter.com/ballengroup or by phone at 702-212-2091
**To find out MORE about the MEGAS of Keller Williams Realty or about joining Keller Williams Realty, Contact Lori Ballen at 702.212.2091