Tim Heyl - 09/29/2022

"Insight and strategies on the rapidly changing market"

After starting his career as an individual agent, Tim Heyl became one of the Top 5 real estate producers for Keller Williams Realty International. He went on to found The Heyl Group, who appeared 3 consecutive years on the Inc 5000 list for fastest growing private businesses and in the Wall Street Journal's Top 100. After their national expansion in 2016, Tim's journey led him to become the Founder and CEO of Homeward. Tim holds the title Entrepreneur of the Year® 2022 for the Central South Region. 

Tim Heyl: "I graduated college in May 2009, and the market was a lot like what we will see in 3-6 months from now. I lived with my parents for the first six months out of college, and I had no money. I didn't know what I should be proactive about. In a seminar, I learned that sales is a basic math equation, and you can set a goal and work backward. If you want to make a certain amount of money, determine how many homes you need to sell every month. Then you can determine how many closings this would need to be per month and many leads you'd need to talk to make this many closings. How many phone calls would it take to talk to this many leads?"

Income --> homes/month --> closings/month --> lead volume --> phone calls/day

TH: "Year after year, I didn't do anything different. It all just compounded over time. Over multiple years, it became explosive."

Jerimiah Taylor: "I like that you identified one thing and stuck with it. Distractions are expensive. How did you stay focused to keep yourself narrow on key activities?"

TH: "I hired a coach and determined how many calls I needed to make per day. I believed that if I was consistent, it would pay off over time. You will probably be disappointed with how much you achieve in one year, but it will be a big achievement over several years. What is the daily commitment so that all of the other dominoes fall into place? What's challenging as an agent is how broad it is - you have to make calls, do showings, close on homes, etc. What I was best at was having the same number of conversations per day without fail. When you make a total commitment to something over a consistent amount of time, this drives results. I wasn't out and about like the average agent. I started slowly hiring people as I could. First, an assistant, and then a second and third assistant. Then, I also hired a buyer's agent and an Inside Sales Agent. I had to become a machine. At my best, I was making 100 calls per day. At my worst, this was 20. It was never less than 20."

JT: "Most paths to success are not perfect lines. Can you elaborate on some of the trouble you faced along the way?"

TH: "There has been a catastrophe every year. My first assistant resigned by leaving a letter on my door letting me know why he wouldn't work for me and why I wasn't a good manager. This took relationship rebuilding afterward, and it showed me what I needed to work on. You don't learn when things are going well. You learn during adversity, when you succeed despite the hardships that you're going through."

JT: "What are some big tips you can share when it comes to moving from quarterback to coach - having the team perform well without putting your hand on the ball?"

TH: "As the quarterback, effort is what causes you to succeed. I had to develop a new skillset when I started hiring for positions. It's important to focus on being kind and having the ability to lead others. I didn't have this ability before. Be thoughtful, plan and strategize. You have to figure out who the people are with potential."

JT: "What type of system do you use when it comes to managing a team?"

TH: "In the beginning, I went from E to P (entrepreneurial to purposeful). I wasted a lot of money overcomplicating things. You have to have someone who will manage the system over time to ensure pipeline cleanliness. Don't hire more agents than you have quality leads you can service. The roots should be based around the sales process (developing leads, qualifying them and handing them to your agents).

JT: "What are some qualities and characteristics you identify when hiring people for your team?"

TH: "It's important to look at behavior styles, motivation and experience. Experience will tell you if they have any skillsets relative to what you need. If you know where they have been, you can get an idea of where they are headed next. Determine what they are motivated by. I used 'backchanneling' often when it came to references. I would try to find someone who knows the candidate and get genuine, real feedback. This helps identify who you should not hire in the long run."

JT: "Tell us about Homeward."

TH: "Homeward is for agents, so that their clients can buy before they sell. Homeowners can use this to lock down the house they want before selling their home. With Homeward, we want to remove the stress that exists in home buying."

JT: "What do you think about the industry and the current economic climate?"

TH: "Much like my first year - in 2009. Hit the ground hard and find expired listings. Expired listings are coming again."


To join Homeward, visit their website.