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Keys to a Successful Partnership with Mona Stevens & Kelly Favero
https://youtu.be/cg_8HplzZGo
Biggest Takeaways:
• Discover the secrets to Mona & Kelly’s successful partnership.
• Know the benefits & frustrations of partnership!
• Words of wisdom for agents who want to take the path of partnership.
Part of the Keller Williams belief system is that through Teamwork, everyone achieves more. That has certainly been true for Mona Stevens and Kelly Favero. They were both individually doing about $6MM a year before they joined forces and at the end of last year, they had a combined sales of $34MM as partners and became the Keller Williams Utah Regions’ #1 producing team.
Before real estate, Mona used to be a coach at the University of Utah Women's Softball program while Kelly worked at a graphic design ad agency and was the creative director for several years. Both became agents the same month & they became fast friends. They worked separately but side by side and always gave each other support. However, when Kelly met the Team Leader at Keller Williams Salt Lake City, he felt that the potential for him was much better and so decided to move. Mona joined Kelly after she read The Millionaire Real Estate Agent by Gary Keller.
During coffee one day, they realized that with the combined amount that they are paying a transaction coordinator, they could already have an assistant that they could pay together. That’s when they started thinking that maybe they should merge some parts of their business together and become partners. They started to interview people who were partners to see how their business worked and what issues they encountered. They observed that the common factors of those successful partnerships were the partners’ fondness for each other which goes beyond business and that both bring equal things to the table. Before jumping into the partnership, Mona & Kelly tried coming up with a strategy to make sure that no one will feel like they are doing more work than the other. They put in a lot of thought into it up front and they are still doing the same thing now.
They attribute the success of their business to confidence brought about by their partnership. Since they partnered, they felt like they can list & sell anything. The energy created by the partnership makes them a much better Agents. It made them think bigger and breakthrough their ceiling to prosperity. And for someone to achieve that level of confidence, they should know their product. You really need to be the professional who understands forms and contracts inside and out and know your inventory and your scripts.
For those who want to venture into a partnership, Mona and Kelly advise not to jump too quickly and know the other person really well. Your work ethic, goals, expectations, and where you want to go should be aligned. You should have similar ways of wanting to do the business and differences that should complement each other. A partnership can be frustrating and you’ll have to work through communication issues to make sure that everyone is on the same page and nothing is missed.
A successful partnership requires having really strong clarity in how you are going to talk about expectations & money. You need to have ongoing conversations to resolve issues because any seed of resentment can break it.
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https://youtu.be/cg_8HplzZGo
Biggest Takeaways:
• Discover the secrets to Mona & Kelly’s successful partnership.
• Know the benefits & frustrations of partnership!
• Words of wisdom for agents who want to take the path of partnership.
Part of the Keller Williams belief system is that through Teamwork, everyone achieves more. That has certainly been true for Mona Stevens and Kelly Favero. They were both individually doing about $6MM a year before they joined forces and at the end of last year, they had a combined sales of $34MM as partners and became the Keller Williams Utah Regions’ #1 producing team.
Before real estate, Mona used to be a coach at the University of Utah Women's Softball program while Kelly worked at a graphic design ad agency and was the creative director for several years. Both became agents the same month & they became fast friends. They worked separately but side by side and always gave each other support. However, when Kelly met the Team Leader at Keller Williams Salt Lake City, he felt that the potential for him was much better and so decided to move. Mona joined Kelly after she read The Millionaire Real Estate Agent by Gary Keller.
During coffee one day, they realized that with the combined amount that they are paying a transaction coordinator, they could already have an assistant that they could pay together. That’s when they started thinking that maybe they should merge some parts of their business together and become partners. They started to interview people who were partners to see how their business worked and what issues they encountered. They observed that the common factors of those successful partnerships were the partners’ fondness for each other which goes beyond business and that both bring equal things to the table. Before jumping into the partnership, Mona & Kelly tried coming up with a strategy to make sure that no one will feel like they are doing more work than the other. They put in a lot of thought into it up front and they are still doing the same thing now.
They attribute the success of their business to confidence brought about by their partnership. Since they partnered, they felt like they can list & sell anything. The energy created by the partnership makes them a much better Agents. It made them think bigger and breakthrough their ceiling to prosperity. And for someone to achieve that level of confidence, they should know their product. You really need to be the professional who understands forms and contracts inside and out and know your inventory and your scripts.
For those who want to venture into a partnership, Mona and Kelly advise not to jump too quickly and know the other person really well. Your work ethic, goals, expectations, and where you want to go should be aligned. You should have similar ways of wanting to do the business and differences that should complement each other. A partnership can be frustrating and you’ll have to work through communication issues to make sure that everyone is on the same page and nothing is missed.
A successful partnership requires having really strong clarity in how you are going to talk about expectations & money. You need to have ongoing conversations to resolve issues because any seed of resentment can break it.