Hey real estate agents! Welcome to making a smarter agent. Your program to find out all tips and trends as told by the great ones in real estate. What’s a great one. Someone that’s able to make money and still keep their head on straight. Let’s face it. This is a tough business. We interview tough people who seem to make it look easy. I look forward to getting your feedback. And if you like the show please gives it five stars. If you don’t like the show just ignore it. We just want the five stars.
Hey real estate agents! Welcome to making a smarter agent. Your program to find out old tips and trends as told by the great ones in real estate. What’s a great one. Someone that’s able to make money and still keep their head on straight. Let’s face it. This is a tough business. We interview tough people who seem to make it look easy. I look forward to getting your feedback. And if you like the show please gives it five stars. If you don’t like the show just ignore it. We just want the five stars.
And I want to take a minute to thank my sponsor REIGNation. That’s the real estate information group network which you could find on Facebook. I highly suggest you participate and organize New York Palm Beach. You can find them on Instagram at organized Palm Beach. Let’s face it being neat and organized is a hard thing. Organized Palm Beach makes it look easy.
It seems everything this woman touches seems turned to gold. Welcome Rochelle.
Rochelle LeCavalier: Thank you. What a fabulous introduction.
Yeah. I was working on it.
Rochelle LeCavalier: Good Job!
Rochelle LeCavalier: I’m completely honored to be your first guest. Yes. Making a smarter agent. It’s to the total heart and soul of what I believe is probably the most exciting thing about our business is that you probably heard it sound like there are no new ideas. Wait. And so figuring out what you want to accomplish and then talking to people who have done that thing or something similar like the number of people who you know broke the five minute mile after the first guy did it or the number of people put somebody at.
Rochelle LeCavalier: After the first Westerner did it.
Tell us about how you got started specifically real estate where you from. What did you do and let’s hear about that and then we’ll talk about that
Rochelle LeCavalier: OK.
Rochelle LeCavalier: So it’s born and raised in Southern California. I can remember one summer hanging drywall and learning how to you know leg tape and mud drywall. So I’m a little bit handy by way of background in terms of professionally. I got my start in the land development side of things. My first know I like to get my first real job you know where I was like in an office environment and kind of on track to what I’m doing today is I was for a civil engineering firm and I was in the feasibility studies department and we would do feasibility studies for what are called masterplan communities.
Rochelle LeCavalier: And this was in the Las Vegas Valley in the 90s when things were booming and we would coordinate the hydrologists and the topography crews and the civil studies and you know take a look at what sort of a master plan for thousands of acres of like literally just desert.
You build a village
Rochelle LeCavalier: I mean literally these went on to me town.
Let’s bring it forward a little bit because again our audience is largely made up of real estate agents who want to get. How do you make money off of that.
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Well. OK. So I’ll start with that. I I don’t relate to what I do is selling you know selling.
How do you make the phone ring
Rochelle LeCavalier: oh OK well that’s kind of a different question but I’ll answer about. So how do I make the phone ring. The first thing is I market I advertise I put myself out there and I think a lot of why my phone rings and who is calling me is related to how my how I’m putting myself out there. So my brand messaging is really my ethos in general is very much about how can I add more value to my clients and even to people who aren’t my clients.But like they’re in my market it’s like listen sometimes people call me and say I just want a second opinion. The truth is I’m not going to hire you. I say OK great. No problem. Please consider me a resource for anything. Boca Raton I am at your service. How can I help.
Can we dig it just a little bit deeper into the advertising though. I want to just find out for sure sure. Other words. So talk to me about where you are advertising what you spend what’s going to be the response rate that you’re getting. You know stuff that our people can really take from that.
Rochelle LeCavalier: Yeah. And I mean you you raise a couple of good question. So once you have the context decided of Who are you and why do people care then you do need to broadcast that out. So I don’t position myself as someone who’s going to sell that. I mean I do I sell right. That’s really the under underpinning of it. But at the end of the day I’m a trusted adviser and that context is very important. So when I put out direct mail anything online social media YouTube videos the property towards anything it’s about really being a resource to them. So to do that you have to really know yourself. So please come back to what to do after the phone rings because I do want to dig down into that. That’s very important for any agents who are watching because that’s the whole the whole ballgame. You can do a Super Bowl ad and like have a thousand people call you but if they call you and you’re like or you don’t even answer the phone you just wasted your money. So in terms of like a tactical I do a robust direct mail campaign to my entire farm
Which is how many how many people get that mailing so
Rochelle LeCavalier: I have a couple of different lists depending on what I’m sending and I alternate them. So I mean why haven’t planned out for the year. I mean we budget in advance of the year we know what the pieces are we know what the content says we know what the brand messaging is. So I have a ten thousand left and I have a 1000 left.
Rochelle LeCavalier: Yeah. So those are my that’s my direct mail program. And I text I literally if I were to meet with a seller or a buyer who has called on a mailer generally for for me direct mail yields more seller traffic than buyer traffic. So I’ll specifically ask them you know you’re serious you know who referred you to me. How did you hear about us. And then we drill down. Oh I got a mailer. Oh really.Which Mailer OK. And then I figure out which Mailer. And then obviously I’m appropriate about it it’s conversational. But I will ask them like what specifically about that Mailer had you called me and what I have found is that there are certain mailers that it’s like mad. Oh we just you know we just knew you know we saw your mailers come. That’s one response. There’s another response called Oh I have it right here and here it is. And then they point to the section and I read this and you know then and then they walk you on that journey that they and the consumer took to find you. That is absolute gold. So at the end of every quarter and at the end of every year I look at what transactions that I do. Where did they come from. I know 100 percent where every person came from. I tracked these things. So when I look at it at the end of a quarter and then it at the end of the year what has been productive for me and how productive what’s been my are ROI. So if something’s really performing I keep going with it and sometimes double down on the investment and then something that’s totally not good for me.
Rochelle LeCavalier: It has to justify its existence. So you know I don’t pretend where it’s not warranted.
I want to connect with you on social media. Search me out. Edmond Bogan and afterward let’s connect.
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Can I ask what your annual ad budget is like a total total.
Rochelle LeCavalier: Yeah total total. I mean I think everyone might be curious to see that where the top producers are performing again.Only if you’re comfortable I don’t want to meddle too far in your business affairs but if
Rochelle LeCavalier: I can I can give you a clear and direct answer for direct mail. I mean I just reviewed it this morning with my operations manager. I was like Where are we on direct mail. We literally just looked at the spreadsheet.
Rochelle LeCavalier: So we’re in the low hundred thousand on that per year so that’s for direct mail only local. And then we do from time to time do pop pieces like in other markets. Now why I say I can’t clearly articulate 100 percent my market budget is because there are some opportunities that I have that are not related to my resale business specifically the residences at Mandarin Oriental where there is some cross pollination there. And so it’s not all on my ad budget. So for example next week we are going on a force to be tour and I’m speaking on a couple of panels will be of course we’ll be videoing those and then that’s going to be beautiful content that the developer is taking care of for us.
Rochelle LeCavalier: And then we’ll be pushing it out on social media to promote the Mandarin Oriental project. We’ll be that’ll be on my YouTube channel that’ll be on all my social media. And so there is definitely some value to that. Even though I am specifically marketing the residencies at Mandarin Oriental as that primary focus it does help with you know visibility and we were already obviously positioning myself as the expert in Boca Raton luxury.
Nothing exists in a vacuum. But let’s talk about the good stuff here to talk about like what’s so funny about it’s not about about the Mandarin.
Rochelle LeCavalier: The combination of amenities services and lifestyle. No one’s ever done anything like that. So it’s like it’s one thing to have like oh it’s a beautiful condominium it’s luxury condominium fantastic. Then you have OK it’s branded residential so that means we have some sort of an agreement. Sometimes it’s just a licensing agreement with you know a brand name thing. In Miami we’ve seen them with cars luxury goods you know got Cindy Garcia. We have our money also for shower and then we have some of the hotel groups right. Regis and Ritz Carlton for season.
Rochelle LeCavalier: That’s all fantastic. But this is completely unique. We have a hotel and residences they are joint. So it is like two towers with a sky bridge. It is one property with retail on the first floor. If you if you regularly go to Bal Harbour then just know that you can stay in Boca and you’ll be just fine. But here’s the kicker OK here’s the whole thing from the Mandarin Oriental Hotel Group is actually managing the hotel and the residences. OK. So as a resident I’m in a beautiful branded condominium it’s fantastic location downtown you know like urban resort feel walkable everything everyone’s talking about right now.
Rochelle LeCavalier: Plus I could come up like on my way home from the airport and go Hi there. Yes I’m coming home from the airport. You know I just flew in to Boca airport and I’m tired and. Could you please walk my dog bring up my dry cleaning you know change the linen in my bed stop my fridge walk my dog you shined my shoes and put like a fillet mignnion and decant some wine please. Oh and can you send the you know the Bentley for me. I’m at the airport so like you did.Literally everything you can get in a hotel property. Five five stars and you own it and it’s and it’s a private residential building. All of that and it’s Boca Raton Florida. OK so 20 years ago I don’t know the average age must have been much higher. I joke sometimes right. You know in the in the early 2000s the average age of a hundred twelve or something like that. The average age in Boca Raton today Ed Mr. trivia is forty eight years old. So we are seeing a demographic increasingly young increasingly affluent and increasingly excited about experiences.
I want to connect with you on social media. Search me out. Edmuund Bogan and afterword. Let’s connect at REIGNation. That’s REIGNation when you could find some Facebook rain nation as part think tank part group therapy for realtors all coaching and it’s affordable. Try it at rain nation. That’s all right. REIGNation on Facebook.
You know when I went to a presentation that you had at the Mandarin Oriental they had brought up that you had some statistician or something say that in the next 10 years Boca is going to be 25 percent larger. And we’re aging younger. So if the average age is forty eight at that time the average age will be fifty one. So that’s a very good reason to be excited certainly as a working real estate agent here in South Florida. But I think the vision. So what’s the cost. How much is it do to get a place.
You know canceling the wine and we got a Bentley and we got all messed up. This is not like New York New Jersey here. This is a very old New York strip
Rochelle LeCavalier: correct.
Rochelle LeCavalier: And it is only the 7th Mandarin Oriental residences in the world in the world. So OK. And that’s hurting the United States. Top four and they chose Boca Raton like right. Amazing. So to get in. Right. So we have various residences. It is unprecedented in terms of pricing.It is unprecedented. It is in in terms of the level of luxury. And the one bedroom we do have a couple on offer. I think I have two remaining that are under the two billion dollar mark and that would be a one bedroom at about fourteen hundred and eighty five square feet. Then we have all the way up to the penthouse size which is around ten thousand square feet and penthouses are between 10 and 20 million dollars. And I have had a number of people who are combining residences. So I’m working on one right now.
Rochelle LeCavalier: It’s like 7500 square feet. They’re like here’s how I want to live. I need five bedrooms. I need those. I need a theater and we are in a period of time you know because we haven’t yet come out. You know we’re doing all the infrastructure in the ground right now on the condominium side the hotel tower we’re actually up a couple of levels and we’re getting excavated and the pilings in on the condo side. So in chill we’re actually substantially I can make changes. So I have people going.
OK. Here’s what I want and making a really specific customized home.
You were kind of a ritualistic life you go to bed wicked or wicked early. Tell us a little bit about that what time you go to sleep at night.
Rochelle LeCavalier: So I try to get into bed as early as possible and it’s not always possible. So for example yesterday I was in Atlanta all day I was in like a 13 hour meeting. I’m not exaggerating like literally in a boardroom with like short little breaks. And we were working on the hotel and residences. So like executives from Mandarin Oriental executives from Florida architects designers. Very exciting. So that was a long long long day. And then I got home late yesterday evening and then you know today it’s like I try to get myself right back on track so because there are a lot of events in our business I can’t always get in bed as early as I like but when everything goes according to plan which you know it’s never.But I get up around 4:30 in the morning from there between 4:30 and 5:00 and there are some certain things they do in the morning hours. A lot of them are based on the miracle morning if you’ve read that book. I found it very useful. It’s about getting my mind right so that for the rest of the day I can really just wail and be fully self expressed and fully out there and fully in it. And so you know that’s that’s my day. I mean if you read that book you kind of understand what to do in the morning.But short form is like spent some time being quiet. I read I work out meditate I plan my day or
Prospecting. Do you spend any time calling people or are you so great that you get out of the woodwork.
Rochelle LeCavalier: Talk about it. You know I so I really do prospecting in a particular way. And I think that helps me want to do it. So I go back to I feel like I serve as an adviser.I also just legitimately like fall in love with my clients like I’m best friends with so many people I’ve worked with so when I’m giving them a call to check in I actually want to talk to these people. And then those people who haven’t quite warmed up to yet enough. It’s like I want to crack that I. I want to figure out what are they really about and what are they really up to when you can dial into what are their real goals and aspirations what’s really important to them outside of like a home purchase or a home sale. I think it allows you to just serve them at a higher level. And so I do do daily prospecting. I have somebody on my team my operations manager actually who helps me to track them. So I log all my calls. I log notes on all the calls that I make. And I have a certain number of calls that I know I need to make given my field goals. So you know all these things are formulas so marketing is just numbers prospecting is just numbers. It’s you know on average right you can take an assumption like OK I have to make 40 phone calls to get 10 appointments and out of those 10 appointments I’m going to convert one.
Rochelle LeCavalier: So you can back into how many phone calls do I need to make every day and I mean you track it that way or the magic number you do not need. What. What are you. Those are basic numbers so like if you go on a base that might a moving target like some more often than not I do not meet my target of number of phone calls. What I do find is a do tend to meet my revenue target and my appointments targets. So the good news is I guess is that I’m more effective than my assumption in my pro forma.
I want to connect with you in social media search out Edmond Bogan and afterword.
Let’s connect at REIGNation. That’s REIGNation when you could find some Facebook rain nation as part think tank part group therapy for realtors all coaching and it’s affordable. Try it at rain nation that’s already REIGNation on Facebook.
Rochelle LeCavalier: So that’s a good thing. But you know you you can’t have any concept of how how you will convert into you start to track and measure it and you know even just from an accountability standpoint it’s a game changer to just track and measure and you know they seem to be really really good at something you have to fall in love with the mundane.
Rochelle LeCavalier: You know I’ve heard a lot of very very smart people say like listen you know being like super muscular instead it’s less about you know your ability to do anything other than be OK with the border. It’s like the boredom of eating really clean the boredom and monotony of like lifting the weight over and over and over and over. So people who are really exceptional in my estimation that anything I mean look at athletes. How many free throw shots you know do professional basketball players take you know how often do they practice and if you think about real estate we tend to sometimes practice on our client.
Rochelle LeCavalier: I really like that idea. It’s the boredom not the work. It’s well it’s your ability to continue to do the work especially when you’re like bored and checked out like. Interesting. How does it work to be done whether you know you feel like getting up in the morning and working out and eating clean all day. Sometimes yes and sometimes no. Part of the the secret of like being successful is first of all defining what success means for you and then doing that and then check again like Am I happy.
Rochelle LeCavalier: Am I fulfilled. Is this what I enjoy. Do I like my life right now. I think it was Steve Jobs who is like listen if there are too many days in a row where you wake up and say look do I want to do well I’m about to do today if there are too many days in a row where the answer is no probably need to re-evaluate that’s whether in real estate or whatever you know not to wax philosophical on you.
But no I look anyway I think philosophical I love it when you’re philosophical where we are coming upon that time where we need to find out any inspiring words that you want to give our audience anything that you’d like them to think about or you know actually let me take it a step further if you were getting started in the real estate business and you had just a few months to actually make some money and you really really wanted to succeed.
Rochelle LeCavalier: What would you what advice would you give that new agent so it’s interesting I get this question a lot like a lot lot lot and I even did a keynote address last year at a top three conference about how to break into a market and how to get started from ground zero but specifically you asked. I’m a new agent. I have like a bassoon maybe I’d like no money and I’m I just need to make some money right. Or is it like just getting started or is it more about converting it.
We get to what I like the money question because it’s something I need money I got I got to pay those bills. I’m getting hungry literally I need money. Rochelle go how do I make money.
Rochelle LeCavalier: So if you’re really really just getting started and it’s like literally like I need to make money happen like in this week like I know gas in my car. Like if you’re in that place I would say put some feelers out find out where you can help to get a rental. Now rentals for a lot of agents it’s not like the most glamorous thing is something of fun thing. It’s not the highest dollar amount but it is fast. I actually know an agent who specializes in rentals is all he does and he’s like Listen it’s just it’s good for me like I Craigslist stuff.
Rochelle LeCavalier: I put things out I advertise on social I offer people I call them up you know you know anybody who needs a place to read fast fast fast with like that right now the next step is like if I have a little like OK I can make money happen in the next 30 60 90 days. And I did not do this when I was a young person by the way. I didn’t get it. You’re still young. I love you. I am still young I’m totally young. But if I were at a different place in my career I’ll say it that way because actually it may maybe it may be someone who’s like widowed or divorced or retired and like they’re in this place where it’s like they need to reroll.I would find the most successful agent in your marketplace with whom you actually like agree philosophically. I like what it’s all about. And I would figure out how to work for that person.
Rochelle LeCavalier: And it’s not something I considered when I started in the business I was like gung ho to figure everything out on my own but I’m now seeing the power of tea and what’s happening in that space very very successful. I just I mean Darren Tanzi in Miami for example. Huge successful agent sports and entertainment division like baller right join the team. ECHLIN. He joined a team when he’s already completely established has his own client list wildly successful by any measure and should own a team. So this this notion of like working collaboratively you can bring more value to your clients and everybody has a bigger win.So if you’re just getting started and you know you can find yourself in that kind of an environment you’re going to learn from the best in the business.
So teams want what you know. If I were to join a team one plus one equals three.
Rochelle LeCavalier: May to actually like it make it more agile. These are not equal obviously like you know do your due diligence and see what feels right for you. But those would be my to make it happen quick like quicker than if you just went and tried to figure it out.
We will make an episode in the future about teams and about what agents are doing today to form those teams. ROCHELLE Thank you so much people. I can post your contact info yes.
Rochelle LeCavalier: Please. I’m super available on social media. I’m at Rochelle that TV and let’s connect.
Thank you Rochelle and thank you for listening to making a smarter agent do me a favor if you like making a smarter agent please go to Apple podcast or any of the podcast services you might be listening through and give me five stars if you didn’t make it that much then don’t even bother to say anything. Five stars that’s all that really works. I look forward to seeing you next time. And remember connect with REIGNation. That’s REIGNation on Facebook. It’s part think tank part group therapy for realtors all coaching and it’s affordable.
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