©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy

Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

Covid-19 Update Call

March 27, 2020

INCOME DRIVING & ENGAGEMENT

TEXAS SHELTER IN PLACE

• 20 offices covering 40+ counties

•Governor said won’t put Shelter in Place- 3/22 at 3pm

• Two hours later- Dallas County did- real estate NOT essential

• Then over the next hours/days- 15 counties & cities put

something in place

•None are the same - cities and counties conflict

MAIN MESSAGE TO AGENTS

• We are “pivoting” and “shifting” but still working to support our clients and families.

• Schedule is key. Keep one.

• We will keep you informed on the real estate end.

• Lower your news consumption. Once/Twice a day- no more

• Work at a Ninja Level 10 Mindset. Ask what level regularly.

• Income will continue if you work daily right now

MAIN MESSAGE TO AGENTS

• Sellers still want to sell and buyers still want to buy

• TWO sets of leads now. IMMEDIATE and FUTURE. Take care of

BOTH.

• TWO options right now

•Continue on- income will continue

• Stop and wait to see happens- teach sales cycle of 60-90 days

PERSPECTIVE IS IMPORTANT

• Business days versus overall days

• Set appointments for the day after the Shelter In Place end date

• Emotions change rapidly. CONSTANT CONTACT.

STEP ONE: NORMALCY MATTERS.STAY CONNECTED AND DEVELOP

CURRENT ROUTINE

•Keep your regular office meeting dates.

• Launch a coaching program that highlights activities to keep pipeline flowing and utilizes your tools.

•Use “income producing” as the barometer to decide what to teach.

APEX CURRENT SCHEDULE

• 3 office meetings a week

• SHIFT for SUCCESS

• Daily 1 hour experienced

• JUMP START

• Daily 1 hour new

• YOGA- two times a week

• Inspirational time- one time a week

• Group training- as needed

• Appropriate topic webinar- Military Rewards, Home Partners, Real Estate Review

APEX CURRENT SCHEDULE

STEP TWO: ACCOUNTABILITYBECOME YOUR COMPANY COACH

• Link for reporting

• Reporting of activities (calls, etc)

•OPA Boards- Thank you Peter Rogers (CB Mountain West in

1997 shared with us- build a production culture)

•Companywide Challenge Boards- Activities Lead To Results

•Managers do videos on this each week right now

STEP TWO: ACCOUNTABILITYBECOME YOUR COMPANY COACH

STEP THREE: NEW AGENTS NEED MORE

• Daily coaching program for them. One hour coaching so they can implement the rest of the day.

• Staff should be able to pivot and help one/one

• One on one coaching by education director for new agents with focus on database development, what to say to people on the common questions, how to call your database

STEP FOUR: GET CURRENT INCOME TO CLOSING

• Teach agents CRISIS objection handling

•Do not project- 80 year old client

•No cancellations without your approval

•We are not cancelling listings- Withdraw, TOM but not

terminated

STEP FIVE: SHARE SUCCESSES AND PRODUCTION

• Sellers are selling and buyers are buying. Your agents MINDSET

is important and knowing this helps.

• Share all the success stories of the day- Daily Dose

• Share how agents are using your virtual tools to keep business

going in areas real estate is not essential

STEP FIVE: SHARE SUCCESSES AND PRODUCTION

STEP SIX: KEEP YOUR PRODUCTION CULTURE GOING OR BUILD

•Managers reporting production to agents.One office added 36

new listings or pendings in 2 days. Agents not busy need to

hear that.

• Seeing is believing- video and photos help

•OPA Board

•Activity Board

STEP SEVEN: KNOW YOUR NEXT 2 WEEKS PIPELINE IN DETAIL

•Go beyond the reports

• Each manager knows exactly the exact stage/likelihood of the

pendings to closing for month end. (called each agent)

•We have 300 more properties to close by March 31.

•Helps in case your Shelter In Place changes so you know your

game plan to get those deposited

STEP EIGHT: TEACH INCOME PRODUCING PROGRAMS

•Military Rewards Program

•Home Partners for when Shelter In Place is lifted

• Teacher, firefighter and policeman mortgage programs in your

area

STEP NINE: ADAPT TO VIRTUAL TRANSACTION

STEP 10: SUBSTANCE MATTERS…NOT JUST “RAH RAH”

• Include substance with the encouragement

•Compass email from the Bay area (shared by one of my Plano

agents)

STEP 10: SUBSTANCE MATTERS…NOT JUST “RAH RAH”

JOSH’S EMAIL THIS MORNING

• Hey Apex Family,

• It is an understatement to say I am BEYOND PROUD OF THE CB APEX FAMILY! You have continued to pivot, jumpstart, and most importantly, "Adjust Your Sails". As leaders in your communities, businesses and families, I have watched you help each other and those around you.

• In our office meeting, we discussed the concept of John Maxwell's quote about how we react to circumstances we encounter in life. I have seen this resonate with so many of you when I posted the image of the sail boat in the coaching Facebook groups, that you took it and posted to your page. Today, I wanted to give you that opportunity but with Natalie's marketing skills! :)

CARE FOR YOUR LEADERSHIP TEAM

• Frequent check ins by webinar

• LISTEN to what is going on and give them resources/tools

• Some personalities like having the answers. Give them extra

support.

• Tell them how amazing they are.

CASH FLOW CARE & SOCIAL MEDIA

SMALL BROKERAGE GUIDELINES (1-75 AGENTS)

• - Look at your recurring monthly expenses and begin to examine the biggest draws against your cash-on-hand.

• - If you do not own your building, begin negotiating with your landlord about rent abatement or reduction.There maybe some compromise in this, but ask for the next 3 months to be added to the end of your lease term in exchange for a premium (rent +5%) to protect your current cash-on-hand.

• - If you own your building with an active mortgage, ask your provider and ask for deferral or interest only.

• - Do not purchase any office supplies but the absolute necessities (copy paper, toner, etc.), go back and create a limited supply list for staff to order from and approval all order personally.

• - If you contribute to marketing related to open houses, begin to consider cutting as open houses are likely to be less prevalent.

• -Take advantage of CB tools such as Zap and Dash for a savings and cut other CRMs if they are not comprehensive and widely used among your agents.

• - Look for other under-utilized tech & marketing tools to cancel such as Redx, Skyslope, Zillow leads, ANY social media posting companies for your Facebook pages and other equivalents.

JOSH@CBAPEX.COM 214-500-0359

SMALL BROKERAGE GUIDELINES (1-75 AGENTS)

• - Eliminate your office admin/receptionist/front desk employee.

• - If you are a broker-owner-producing agent, begin to take on the task of that employee.

• - Considering "pausing" CB North Star logo changes in terms of yard signs / exterior signage / building signage until 120 days from now to preserve cash.

• - Use free Zoom product to stay in touch with agents with daily meetings & trainings.

• - Look for savings by re-negotiating copiers, phones (Megapath is recommended), internet, billboards (cancel), coffee/water delivery services (cancel), other print marketing, tech services providers, Pitney Bowes Machines, and energy bills (Energy Ogre is recommended).

• - Stop pre-paying bills to save cash-on-hand. Begin to see when bills are due and pay prior to when late fees begin, but not any earlier.

JOSH@CBAPEX.COM 214-500-0359

MEDIUM BROKERAGE GUIDELINES (76-300 AGENTS)

• - All Small Brokerage Guidelines

• - Consider centralization of accounting, CDAs, legal compliance, education, management, marketing and relocation employees if not already. Consideration of employees to keep should take into account competence, tech skills and attitude.

• - For office admins, begin to see what offices are geographically close enough to have one office admin cover multiple locations.

• - Realize that you are likely a cheap source of pick up the slack for CDAs, compliance, office supplies ordering, training, education, etc. and fill the gaps created by the employee terminations.

• - Stop all upgrades of computers, phones, projectors & other tech equipment in offices.

• - If you have not already, look at your compensation plan and determine whether or not you have the flexibility to put in a high cap in exchange for the agent paying the entirely of the franchise fee. This decision should not be taken lightly and should be modeled on multiple years of past data and future projections.

JOSH@CBAPEX.COM 214-500-0359

LARGE BROKERAGE GUIDELINES (300+ AGENTS)

• - All Small & Medium Brokerage Guidelines

• - Consider eliminate excess positions on the basis of a lower market forecast (i.e. I may need less accounting staff because we will be generating less CDAs or I may not need my 3rd Transaction Coordination employee due to lower homes sold).

• - Consider changes to your relocation business to encourage the use of your ancillary income business as RESPA allows (i.e. If you close at our affiliated title, your relocation split will be higher). As a full disclosure, APEX does nothave affiliated businesses so I do not know the RESPA compliance with these issues.

• - Consider shutting branches that are not profitable due to high rent or low agent count. The savings will be in employees, energy & utility costs, internet, office furniture re-allocation or sales, property insurance, etc. You are unlikely to get out of the remainder of the rent payments under your lease agreement, but you can do the math on the costs of what saves more cash.

• - If you provider 401K, consider stopping matching funds.

• - Go back to your recent M&A note-holders and ask for payment abatement and add those months on to the end of the notes.

JOSH@CBAPEX.COM 214-500-0359

PRACTICAL EXPENSE CUTTING ADVICE

•Approve Every Bill Prior To Payment

• Examine Your Operating Account To See Checks Written

(Credit Card)

• Stop All “Pre-Paid” Bills, Pay When Due or Before Late Fees

•When Asking For Rent Deferrals, Ask Over The Phone

•Make Decisions in Light of the new FMLA & CARES Acts

JOSH@CBAPEX.COM 214-500-0359

BONUS – SOCIAL MEDIA!LAST 3 POSTS – 40,000+ REACH FOR FREE!

JOSH@CBAPEX.COM 214-500-0359

BONUS – SOCIAL MEDIA!NEXT POSTS – SAILS, SALES & REALTRENDS

JOSH@CBAPEX.COM 214-500-0359

BONUS – SOCIAL MEDIA!PRACTICAL ADVICE – MAKE IT EASY

JOSH@CBAPEX.COM 214-500-0359

©2020 Coldwell Banker. All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices which are owned by a subsidiary of Realogy

Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Banker System fully supports the principles of the Fair Housing Act and the Equal Opportunity Act.

Covid-19 update call

March 27, 2020