Mike Phillips, broker/owner of Century 21 All-Pro, was named the #1 real estate agent based on transaction sides in the country by the Wall Street Journal. In 2008, he accounted for an amazing 1,148 real estate transactions. For 2008, Mike is ranked #71 based on sales volume for a total of $68.2 million - Serena Boardman from Sotheby’s International is #1 in sales volume with $255.2 million. Many of Mike’s listings are foreclosures which accounts for the lower sales volume but nevertheless - fantastic results by anyones standards. When Mike first opened his business in 2002, he had his wife and a buyers agent helping him. Today, he has 140 agents working for his company. What a great success story - congrats Mike!
Mike on KMBC-TV via YouTube
According to the Kansas City Business Journal, “Phillips said his successful business model involves a division of labor. Phillips, who doesn’t deal with any buyers, immediately posts foreclosure listings with online bidding and multiple listing services. His agents, spread throughout the metro area and other parts of Kansas and Missouri, place signs and lockboxes at the new listings in exchange for getting their phone numbers on the signs. In addition, Phillips delegates to assistants tasks such as writing property descriptions, taking photographs and updating the listings that pour in at a rate of 40 a day.”
Yesterday, I had the pleasure of interviewing Mike. Although he was extremely busy, he took a few minutes out of his day to talk with me which I greatly appreciated. I wanted to learn more about this thoughts on foreclosures, technology and Trulia. He didn’t dissapoint.
Rudy: How much of your business is based on foreclosures?
Mike: 1/2 of our company business is REO / foreclosures. A few years ago it was only 1 or 2 REO / foreclosures a month. Now it is over a hundred easy.
Rudy: What’s your #1 foreclosure tip for home buyers?
Mike: Home buyers need to be sure before going in that they are pre-approved or their deal may never even get taken seriously by the seller.
Rudy: What’s your #1 piece of advice to homeowners facing foreclosure?
Mike: Work with your mortgage holder to try and get a modification or “Short Re-Fi” done. This is your best bet of making it all work out.
Rudy: Do you consider yourself a tech savvy Realtor®?
Mike: Technology made me what I am. When I got started in 1999 almost no agents had a personal website. I have at least 40 URL’s now that I use for various projects. We use Twitter, Facebook, text messages and some specific online techniques to get our listings noticed.
Rudy: How important is marketing your listings online?
Mike: Without on-line marketing you are living in the Jurassic Age. I make sure that my listings get on dozens of websites. In multiple languages. It is what sets you apart from the masses.
Rudy: How do your sellers feel about you marketing their listings online?
Mike: Our sellers know that we are #1 in online marketing. The savvy sellers do their homework before they hire you. The interview is really a listing appointment for us, we have it wrapped up before we get to the house due to our heavy marketing presence.
Rudy: Has Trulia helped you sell homes?
Mike: Trulia is major asset to me. They send me qualified leads that I would not get anywhere else.
Rudy: Have you met any buyers and/or sellers via Trulia?
Mike: Trulia sends buyers my direction constantly, but because I only work with sellers, my buyers agents get the true benefit from Trulia.
Rudy: Do you use social media tools and sites such as Twitter or Facebook to connect with home buyers and sellers?
Mike: We use Twitter, Facebook, text messages and some specific online techniques to get our listings noticed. Be careful not to become a listing troll on Facebook. Save your posts for special properties. We like to twitter what houses are available for $100 down payments.
Rudy: As the #1 real estate agent in the country, what advice do you have for your fellow Realtors?
Mike: If you want to reach a high level of success and you are willing to do whatever is needed to reach that goal, do it in balance with your personal life. Being #1 is no fun if you are alone. Take your family, friends, co-workers and pets along for the ride. They say success is a journey not a final destination, and I believe that.
Thanks again Mike and all the best to you and your team in 2009.
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June 10th, 2009 at 8:51 am
Inspirational! Thanks for the post!