You'll learn Vyral Client Chris Watters's business sponsor strategy and how he went from $0 to earning $1 million after expenses in three years. We helped him write a book about it. One of his big secrets is he raised a lot of money from local businesses who make money from a home sale to help pay for his lead-generation. He now sells 1,200 homes a year in Austin and bills $30,000 a month to local Austin businesses to help pay for his marketing. We want to help you raise $5,000 a month within 16 weeks. It's a big goal and it's possible. You'll learn how to do it.
Matt O'Neill in Charleston, SC completed the project and raised an extra $120,000 a year. Watch the interview on how he did it.
Are you a brand new agent? No problem. It's not all about how much business you send your sponsors. You don't need to do a ton of deals. It's about the local business owner community mastermind. That's the glue that holds everything together along with ongoing branding to your database.
We've been holding agent masterminds at Vyral Marketing for three years now - they are powerful. Here's an example of a larger mastermind but you'll start smaller.
Chad raised $10,000 a month of sponsor money his first year in the business. It's about the vision you sell about what you'll build, delivering value as a great facilitator of your Local Business Owner Community Mastermind, and including your sponsors in your marketing.
There are a few things to keep in mind as a licensed real estate agent, however.
We advise you to speak with a RESPA and FTC attorney to make sure you're compliant with all laws if you take money from settlement and non-settlement service providers.
Now, before we go on we need to say this to you:
Professional Disclaimer: We cannot and do not contain or provide legal advice. The marketing information is provided for general informational and educational purposes only and is not suitable for professional advice. Accordingly, before taking any actions based upon such information, we encourage you to consult with the appropriate professionals. We do not provide any kind of legal advice. We are not attorneys. THE USE OR RELIANCE OF ANY INFORMATION PROVIDED TO YOU FROM ANYONE OR ANYTHING AT VYRAL MARKETING, INC., IS SOLELY AT YOUR OWN RISK.Here is what we learned from our attorney to guide us:
Why do you need this 3rd party co-advertising valuation?
As you may know, we are not attorneys and do not provide legal opinions. RESPA prohibits both a residential mortgage company from providing a thing of value to a real estate company and the real estate company from receiving a thing of value in exchange for a referral of a mortgage settlement service transaction. However, it is permitted to pay a real estate company fair market value fees for legitimate marketing, advertising or other services performed on behalf of the mortgage company. In order to assess fair market value, regulators prefer valuations from an independent third-party expert, to avoid a conflict of interest. We hired a firm that provides independent valuations to the industry so that a mortgage company or other settlement provider can set appropriate marketing fees to be paid. If the fees paid were considered to be in excess of fair market value, a regulator may assume the excess is payment for referrals which may occur from the potential business source. Incidentally, it is generally not a problem if you pay less than market value to the potential business source for the services.
Golden Rule 2: Necessary disclosures must be made “clearly and conspicuously.”
Golden Rule 3: General advertising and marketing principles apply to influencer marketing.
Here are recommended businesses who are likely to make money when you sell a home. Many businesses will all be happy to join your mastermind and co-market with you, if you approach them right - especially the ones who are spending a lot of money on advertising already.
Be especially careful accepting money from businesses in bold, they are on the HUD statement and must be carefully managed to be RESPA compliant.
If you're in luxury real estate, Vyral Client Mike LaFido recommends you add the following industries to your list. His local luxury business mastermind is his #1 source of luxury listings.
You'll first start by scheduling time to host a monthly local business owner mastermind breakfast or lunch. You only need three people for your first mastermind, including yourself. You'll go around the table and ask what each person's #1 business frustration is, and facilitate the group to share solutions. You'll build your invite list of business owners in target industries complementary to real estate and invite them first by mail and then by phone and email. You'll even charge upfront for the meal so there's no cost to you to pick up the tab. This is a great way to get to know business owners and build trust. You are there to facilitate, not to speak. You'll start by inviting business owners you know, and then business owners you do not know.
You'll interview each business owner in your mastermind and email it, with a special offer, to your database. You'll learn all the ways you can include local business owners in your marketing, too. The easiest way is to interview them on the phone and send it to your database with an offer to track response. Remember, however, the ongoing mastermind is the glue holding your group together, not how many "leads" you send them.
Finally, you'll ask for $250-1000 a month from each sponsor billed to their credit or debit card each month. This will help you zero-cost your marketing expenses. At this point, you'll have delivered massive value with your mastermind and marketing exposure to your list. If they join you as an official business sponsor, they will be exclusive (you won't take money from their competitors). You'll also learn how to work with your sponsors one-on-one as their "business coach" if that's something you want to do (not required). We'll cover how to do this in the bonus lesson, which is the 87-question business assessment to find the holes in any business bucket.
Here is why real estate clients have joined the class:
"I am interested in the Business Sponsor program because I want to do more for my clients, my team, and vendors I work with. I intend on doing more events and mail outs to my clients without it taking money out of my budget. It would be wonderful to have monthly to quarterly events and not have to "sell" to partners every time. I intend on investing in even more advertising to bring in more business for my team and the vendors we work with. Real estate is definitely a team sport to get it to the closing table, the hunt should be too! Thank you for this amazing opportunity!" - Ruby M.
"We know that our real estate sales have a large impact on many other businesses and it is exciting that we can plug these other local businesses into this ready-made source of more sales and revenue. We look at ourselves as marketers who happen to sell homes. We enjoy sharing what we have learned about driving business to our phones and websites. I want to share that know-how with other business people as a value-add to our relationship. This will all be such a logical next step in the growth and maturation of our business." - Fred H.
"For me the Business Sponsor Program.. if successful, would alleviate a lot of stress in having enough working capital to keep my lead generation at the point it's at currently and I'd be able to increase my marketing budget to bring in more leads so I can finally build the buyer agent team I'd like to implement. It's always been a constant struggle to have enough marketing budget to generate enough leads to keep myself busy... AND... still have enough leads to hand out to aggressive buyer agents. I see the Business Sponsor Program as a way to increase my marketing budget which would finally enable me to have buyer's agents on my team and keep them busy enough that they'd want to stay on as a buyers agent versus going off by themselves and essentially copy everything I've taught them. I want loyal team members and I think the best way to get those type of agents on my team is to have consistent lead gen that keeps them very busy. I'm excited to give the Business Sponsor program a try! Looking forward to our class on Monday!" - Brent D.
"I thrive on helping others grow their businesses by giving them new (to them) marketing and partnering ideas. By creating a coordinated Business Sponsor program we will be able to hold each participant accountable to implementing all of our shared business ideas. This will help all the members of our BSP to grow, thereby showing them the value is greater than just leads. At the same time, this is a revenue stream that I have left mostly untouched. By getting $6,000-$10,000 from this program I will be able to zero-cost most of my lead generation systems. If it can grow it larger to $10,000-$15,000, I will be able to cover my radio and television advertising as well. Helping others to develop their businesses and increase their income while growing mine and zero-costing a portion of my marketing. That's what I'm looking forward to." - Chip H.
"I want relationships. The $5,000 or $25,000 sounds amazing, but constantly being in touch B2B will be worth more long term than the monthly income. It will create a level of commitment from the vendor and vice versa. Additionally, it will benefit clients. If I am guilty of anything it's being too narrowly focused on FSBO, Expireds, jl/js, and just recently thanks to Vyral, our center of influence. Looking forward to the meetings." - Jason B.
"I am excited to participate in the Business Sponsor program. I love the idea of bringing marketing value to other small business owners in the community who do not have exposure to the proven concepts that are already tested and proven within the real estate industry and at the same time generating marketing dollars that can grow my own business. Let's do this!" - Greg S.
"Our company operates on a very skinny revenue model: 90/10 split with a $100 transaction fee. It’s great for agents, and with a sufficient volume of productive agents, it’s great for me. At this point, we are all operating virtually, but I’ve told every one of my agents about my commitment to provide a brick and mortar office when we get to 100 agents. We’re halfway there. An office will enable us to do several beneficial things which we can’t do right now. The most important is creating a call center where I’ll hire and train several full-time employees who will call FSBO’s, Expireds, and Circle calls with the intent of setting listing appointments for our agents. The benefits will be significant, including an additional revenue source for our agents and a dramatic increase in brand recognition with the enlarged listing inventory. The Business Sponsor program will provide the funds to obtain the office and establish the call center sooner rather than later." - Frank G.
"I'm looking to increase our brand awareness through radio (which is expensive, but worth it)! I want to take that money and dominate the airwaves and create the "come list me" calls that we get without having to undercut our commissions, pay Zillow, or a referral fee to some random company. Really looking to separate us from others in a unique way that the average agent can't compete with." - Ron C.
"I want to start a vendor program to increase our value to our clients. If we have vendors who are in alignment with our goals, we will be able to trust them with our clients' business. Our goal is to be an indispensable resource for our clients when it comes to selecting vendors for their house. If we can consistently assist them with their houses, then we will have built a wall of value which will be impossible for our competition to overcome. The vendors will benefit because a referral from us will carry more weight and bring the vendor into our circle of trust." - Dan I.
"Thank you for this opportunity. I hope to achieve a much stronger and larger Business Sponsor program that will help create a core group that we can refer business within the group. In addition to creating a larger base of vendor income, I want to help build a strong mastermind to help share and grow everyone's business. I believe there needs to be value not only for business referrals, but also from overall business growth and improvement. My pain is that I receive very little vendor contribution, but there is also no structure or organization to my current vendor program. Currently, I only have a lender partner that contributes to my program. I am excited to learn the systems and value needed to grow a larger and strong Business Sponsor program." - Sean H.
"I want to be in the Business Sponsor program to help fuel our marketing dollars and drive profitability to our business." - Matt O.
"As real estate agents, we provide a tremendous amount of value to both clients and vendors in making connections for different services related to real estate. I’d like a systematized approach of monetizing the value to vendors, and creating a program that helps them market their business to our consumer base…I just don’t know where to get started! Getting that plan in place would mean we have more resources for marketing, and we continue to position ourselves as the experts that people turn to when they have real estate needs." - Misty S.
"Being new to our area and me being a new agent, my wife and I have struggled to build momentum in our business. It's clear how this program will be a game changer for us. I can only imagine what several thousand dollars a month will do to our marketing plan. I'm grateful to be part of the Beta Test Group and have Chris Watters walk with us on this journey. Thank you all." - Lindsay and Jen R.
"The reason why I wanted to start a Business Sponsor program is that I have a passion for business and giving value to others. Creating strategic relationships/alliances to help others grow while I grow has always been appealing to me. I attempted to create a similar program myself but didn't have the guidance or system to make it work. That's when I ran into Frank's video with Chris Watters and found out about the Business Sponsor program. When I heard Vyral was creating a way to help individuals create a program, I had to take advantage of the opportunity! Also, only being two years in the real estate business, I wanted to create a list of vendors who I could trust to take care of my clients at a high level and I believe this program will help me do just that." - Britton T.
Frank is the CEO and co-founder of Vyral marketing and has 10 years of experience helping real estate agents get results with marketing. As the writer of the course material, Frank will be your instructor for your weekly class.
John is a co-founder of Vyral Marketing and is in charge of overseeing the implementation of the course, along with our talented marketing staff. John is available anytime during the course for one-on-one instruction, questions, or feedback. He will also substitute teach if Frank is unable to make a class.
*Paid $2,000 upfront and $500 a month for four months
Summer Group: June 3, 2019
You'll meet in a small group of eight real estate agents once a week to implement a local business mastermind and helpful co-marketing sponsor promotions to your database.
You will have access to:
Must be a current Vyral client for implementation support.
Tuesday at 8:00 A.M. PST
30-Day Money Back Guarantee - Email us before the end of the first 30 days and receive a complete refund for any reason.