Interview With a Winner:
Kathy Koehler
The Koehler Bortnick Team
Leawood, KS
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2006 Sales Volume:$167 million
2006 Average Home Price: $370,000
Software: SellMyHome, MyHome and Sharper Agent. For contact management we use Outlook Access. Our website, KoehlerBortnick.com provides our clients and prospects with additional information about our listings, testimonials, buyer and seller tips, and the interactivity for potential clients to contact us with their real estate needs.
Referral Source Mix: 30% from the Koehler Bortnick Team magazine, 35% from the web, 10% from being #1 in the business journal, and 25% from past clients.
In Touch Today: How did you get started in the real estate business?
Kathy Koehler: With husband #1, I moved 12 times in our 25 years of marriage and purchased 8 homes. I was fascinated with the home buying process. Every time our Realtor sold us a home, she would say to my husband, “your wife should get into real estate.” So after 20 years of marriage, I went out and sold a ton of real estate. Selling houses was much more fun and a little easier than the books and vacuum cleaners I sold while working my way through school.
In Touch Today: What mistakes do you think rookie real estate agents typically make?
Kathy: When agents first get into the business, they need patience and the ability to wait six months for a paycheck. They need to allot 60 days to train, 60 days to sell, and 60 days to close.
The biggest challenge for a new agent is coming into the office every day dressed for success, staying eight hours every day, and working 40-60 hours a week. They also can’t take no for an answer, and need to ask a client for the order at least three times.
New agents are typically computer savvy, which is good because they can keep up with trends and technology, but it also can be a negative because they can lose the knack for one-on-one communication with their clients. I think that the art of real estate is shifting more towards online contact and less towards sitting down and physically talking to people. But I believe that one-on-one time is still very important.
In Touch Today: What mistakes do you think veteran agents typically make?
Kathy: The biggest mistake veteran agents make is that they don’t change with the times. They are stuck in their original technology, they don’t update their systems and they’re still doing it the old way. If I hadn’t changed for the times, I wouldn’t be where I am today. I would be left in the background with a negative attitude, negative energy and burned out.
New agents come in and see a busy street as a “no neighbor” view, while seasoned agents come in and see a busy street as a reason a house won’t sell. So, to keep that positive attitude as a new agent is great, but to keep it as an old agent you need to work harder at it.
I think that the biggest thing Realtors are guilty of is over promising and under delivering. Agents work so hard to get the listing that they tend to promise more than they can deliver. I think it is hard, even for veteran agents, to inform clients of unpleasant news. If addressed immediately, your clients will appreciate your honesty and professionalism. Constant communication is important.
In Touch Today: If you had a son or daughter entering the business, what advice would you give them?
Kathy: I would tell the son or daughter that real estate is hard. They have to accept rejection and be able to work 60 hours a week, including nights and weekends. My daughter, Heather Bortnick, is my partner. She brings a lot to the company, including a younger energy, positive attitude, new techniques, and the ability to see things through younger eyes. Her strengths and my strengths are different, yet they complement each other. It is so good if you have a partner who complements you. We use those strengths for different reasons, and I think that it is invaluable that my partner is my daughter.
In Touch Today: What has been your most successful marketing campaign?
Kathy: Our best marketing idea has been producing “The Koehler Bortnick Team” magazine and driving traffic to our website.
The magazine is produced in partnership with one of our affiliates and is the responsibility of The Koehler Bortnick Team Marketing Manager. It is published in January, March, May, July, September and November, and is direct mailed to seven higher priced subdivisions in the Kansas City area. It is also placed in racks in grocery stores and other outlets with a total of 15,000 to 20,000 distribution. About 98% of our listings are in the magazine, and we capture approximately 35% of our business from the magazine.
Our website, koehlerbortnick.com, and online advertising is a large part of our advertising budget because more than 80% of buyers are using the web as their main tool. The Koehler Bortnick Team has a Blackberry that fields all inquiries generated from our website, the Reece & Nichols website and Realtor.com regarding our listings. And an agent carries this regularly to give immediate response to any inquiries.
Our best sales idea recently has been holding a testimonial contest and a face-to-face contest within our Team. This motivates our agents to keep in contact with past, current and prospective clients.
In Touch Today: Who or what has been the biggest contributor to your success?
Kathy: A few years ago, I spent three days with Bob Boland in Michigan (one of the top mentors in real estate) and he took me from being a $56 million producer to a $106 million producer in one year. I would recommend getting a mentor, preferably someone out of state who is not competing with you and who does double, triple or quadruple your volume.
In Touch Today: If you had a magic wand, what would you change about your business?
Kathy: If I had a magic wand, I would change it from a buyer’s market to a seller’s market. I would make sure that all of my clients would be happy, that everyone would be getting 99.2% of list price, that we wouldn’t have an oversupply of houses and an under demand of buyers. It would be great if we could go back to real estate approximately five years ago, where everyone loved me all the time.
In Touch Today: What are your current goals?
Kathy: My current goals include learning more about real estate, updating my systems, and to be better than I was last year. That doesn’t mean dollars or volume earned; it means to be a better agent. I’m always looking for new techniques. I always want to go to new schools and seminars, and I want to improve myself each and every year.
I would also like to become stronger in technology. We’ve updated our website, and we are putting more and more on the web. I think testimonials are very crucial. I want to work smart, not just hard and improve my time management skills. I would like to expand my team and put the word “fun” back into the word “work” as well.
In Touch Today: Is there anything else you’d like to say to other real estate agents who aspire to the kind of success that you have created?
Kathy: Never give up. Keep a positive attitude, and look at every client as ten transactions. Consider everyone you meet as a possible business connection. Always put a smile on your face, get out the door and do it. Know that you’re the best and believe in yourself. If you think you’re the best for the job, so will the other person. If you doubt yourself, so will the other person.
Become thick skinned and don’t take things personally. If you’re knocked down, get up. If you’re knocked down again, get up… keep getting up. Be a survivor and you’ll make it in the world. Have a passion for what you do and you’ll be good at it. Find what you have a passion for and that will make you a success.
And another important resource:
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According to a University study, 87% of your past customers care more about a relationship with you, than about the price they paid. What are you doing to keep your relationships strong?
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You may also want to sign up for a Birthday Campaign or After Closing Campaign and let us do the work for you.
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