A short YouTube announcement (by Andrew Lamb, team leader for KW Vacavalli) introducing the "Disappearing Cap" initiative. The program encourages agents to refer productive agents to Keller Williams Vacavalli through personal introductions; when a referred agent joins and names the referrer as sponsor the referrer receives a company-cap reduction and also benefits via existing profit share. Concrete incentives: a 25% cap reduction for "cappers" (defined in the video as agents producing $3,000,000+ annually) and a 10% cap reduction for productive non-cappers (example given: $500,000 annual volume). Example dollar figures mentioned: a $24,000 cap reduced by 25% equals $6,000 off; a 10% reduction equals $2,400 off. The speaker asks agents to email him with questions or names of potential recruits.
Questions this video answers
March 19, 2019.
$24,000.
25% (example: $6,000 off a $24,000 cap).
3 million dollars in annual production volume.
10% (example: $2,400 off a $24,000 cap).
Chapters
Hey, team, Andrew Lamb here, your team leader for KW Vacavalli. I just wanted to introduce to you a new initiative. If you haven't heard about it already, there's been some buzz around this and really the goal is twofold. Number one, it's to partner with you in building wealth, in growing out your profit share. And number two, it's to ensure that you never pay company dollar to Keller Williams Vacavalli ever again. And we call this initiative the Disappearing Cap. Now, what this means is that as you are interacting with agents outside of our office, people who are productive in the marketplace, and you simply ask them to coffee, ask them to lunch, and you start to share your story because inevitably, the conversation turns to business. You begin to share your story of why you're with Keller Williams, our amazing growth, the tools and resources you have available to you here at KW versus maybe where you previously were, or if you're a new agent, perhaps it's how quickly you were able to cap and get to 100%. Or. Or just the training and the resources available here that turns into one simple question. Hey, would you mind talking with my team leader about what we discussed here? Or it could be, you know what, that issue that you just mentioned, I have a great business coach at my office who has helped me a lot, and I'm pretty sure I would be able to secure 15, 20 minutes of his time to help you out with that issue. Absolutely no cost. Would that be helpful? Now, when you set up that type of meeting for me where they've talked about Keller Williams with you, they've heard from you, and now you're endorsing the conversation with me as something that would bring value to them 100%. It makes the conversation so much easier, less awkward than just a cold call from me. Number two, that turns into a real conversation we can have, that then puts them in your profit share tree and you get named as our sponsor. When that happens, when it's a productive agent, a capper, someone who consistently hits 3 million plus in production volume every year, we will reduce your cap by 25% when that person comes on board to KW and KW back of Valley, this office and names you as a sponsor. So $24,000 cap, 25%, that's $6,000 taken off of your cap. And that's incredible because before we just had profit share. Now not only do we have the the coolest thing ever in profit share, which is you never have to make an investment, put a down payment or anything to get returned forever, we also now have a right now incentive where we will reduce your cap. If you're already capped that reduces your next year's cap. If you're not capped yet you can take advantage of that right now. And if they're not a capper, if they're someone who's productive, does half a million in volume a year but not quite 3 million, it's a 10% reduction in your cap, $2,400 off right away. So this is a really cool initiative. We've had so many agents start to have these meetings, have these conversations and then refer agents to me where I'm having a follow up tomorrow and it's a seven and a half million dollar producer that's a big name, it's a lot of production and you know just the simple referral will actually cause that person who referred that agent to get a $6,000 reduction in their cap. Unheard of in any other company. I think it's really cool. Email me with your questions, concerns, comments or even better with names of people you'd love to see here next to you at KW Back Valley. Thanks.
