Sunday, July 21, 2019

Build Wealth Without Limits

Reprinted from OUTFRONT Magazine @ 2019 Keller Williams Realty

Build Wealth Without Limits Through Profit Share

Allison Teegardin|Published: Apr. 15 2019
On the heels of losing seven of their top asso­ciates to better financial opportunities in 1986, Gary Keller, co-founder, chairman and CEO of Keller Williams, and the first Associate Leadership Council (ALC) convened to reinvent the company and create one that no one would ever want to leave. What resulted from this meeting was “profit share” – a system providing risk-free wealth building op­portunities for all associates.
When the concept was introduced, others in the industry were quick to call it impossible and the creators crazy. Unfazed, Keller blazed forward, creat­ing his own path. His choice to defy the critics has paid off. Over $1 billion (and counting) in profit share has been distributed since the program’s inception, showing Keller Williams’ long-standing commitment to reward­ing associates for the success they’ve achieved together.

Unlimited Wealth in Your Hands

The wealth-building opportunity places Keller Williams above the rest.
At most companies, when the work stops, so does the paycheck. Not at Keller Williams. With the understanding that agents can’t be in production forever, the profit share system was created as a financial tool to allow KW associates to build inheritable wealth through passive income. There is no catch or fine print, and calculations are simple and transparent.
Here’s how it works:
  • When deals close, KW associates who haven’t yet met their cap pay company dollar to their market center.
  • The market center uses this money to pay operating expens­es. What’s left over is profit and, unlike with other companies, a portion of that profit is shared back with the associates who helped the company grow by bring­ing on productive agents.
Currently, the profit share system grows seven levels.
When someone names an agent as their sponsor or the associate responsible for introducing them to the company, they go into their first level. Each sponsor gets 50 percent of the profit attributed to the profitable activities conducted by the associates they bring on. And, even as the percent­ages decrease throughout the levels, they never fall below 5 percent, which is higher than the top tier of other wealth-building systems in the industry.

Sustainable Wealth Building

Keller Williams elected to use a profit-sharing model to ensure that each busi­ness would be profitable and sustainable. It isn’t about greed or complexity as some skeptics say – it’s just simple economics: only successful, profitable companies have enough money to keep their doors open and distribute a share of their profits.
This, in turn, motivates all associates to achieve growth together. It’s not about any one agent or a single check … it is about building empires as a collective. Profit share is about bringing on the right people – top-performing agents – and growing businesses with them. Simply put, Keller Williams Profit Share is the only wealth-builder in its class ensur­ing financial stability and growth for the company while providing unlimited wealth opportunities for the people who make the company successful.
According to Sue Adler, mega agent from the Summit New Jersey market center, profit share is a no-brainer and the easiest way to earn passive income.
“Imagine the amount of money you would need to invest to earn over $200,000 a year in passive income. It’s unheard of.”
Adler’s first-ever profit share was $25 back in 2004. In her initial six months with Keller Williams, she earned a total of $812. Flash forward to 2017 and 2018 … she’s earning over $200,000 a year in profit share on top of her GCI. Her total lifetime profit share distribution exceeds $1 million.
Even more impressive, Adler has generated this income by recruiting only 14 people to her level one downline. Today, Adler’s profit share tree is comprised of 1,283 associates.
“Early on, I decided I would test the profit-sharing model in a big way. I sought out influencers who would be great operating principals and found three who now own 10 market centers collectively. I never imagined this would grow to the level it has. The real reward has been the huge opportunities I have been able to create for others,” she shares.

Making a Difference Through Profit Share

When asked what profit sharing has allowed her to do, Adler replied, “My philosophy is that money is good for the good it can do.” One example of how Adler gives back is through The Sue Adler Team’s Annual 100th Home Sale Charity Program, where she donates $20,000 to six local charities, as voted on by the community. She has also funded Hear It Direct – a real estate consumer conference – through profit share and later donated the video content to KW’s Customer Experience course.
“The best part about profit sharing is that I can live a life by design and will it to my daughters! One of my personal goals was to travel to all seven continents. We recently returned from Africa, making that our seventh! Thank you, Gary Keller, for being the kind of leader that creates opportunities of abundance for others, and for empowering us to pay it forward. I’m so grateful.”
The wealth you build with profit share is not only for today, but it is also part of the legacy you will leave behind. This is because there is NO end to profit share. After you’ve been with Keller Williams for three years, you are vested, and your profit share distribu­tions will continue to roll in as long as the associates you sponsored down your seven levels continue contribut­ing to the profit of the market center. Unlike other companies, if you ever leave Keller Williams, the checks will follow. No matter why or when you exit production, a profit share tree will continue to provide shade for all those under it for generations to come.
Want to be part of this exciting opportunity?  Contact me for more information.
Pamela Madore
Keller Williams Realty
3955 S. Soncy
Amarillo, TX 79119

Tuesday, July 9, 2019

How To Retire On Passive Income In Real Estate

Pamela Madore
Keller Williams Realty

Pamela Madore

1096 Day Retirement Plan
Business as Usual

One day, I had an epiphany.  You know, when that light bulb turns on in your brain and you slap yourself in the head.  Duh.  That kind of epiphany.

I have been in the real estate and mortgage business for more than 30 years.  It is so much fun.  I love going from deal to deal and seeing houses and solving problems.  I love meeting the people and just putting it all together.  But do I want to do this when I am 90?

My light bulb experience forced me to ask some hard questions.  I have worked all my life as an independent contractor and somewhere (baby boomer attitude) along the line I missed the that part about  I may not want to do this deal by deal in my old age.  Do I have a retirement plan?

The hard truth is that I didn't.  Some savings.  No 401K.  A couple of stocks.  A half a dozen rental properties but that was it.  A paraphrased quote from Robert Kyosaki -- How rich are you?  If you didn't receive one more paycheck and had to live on what you have available, how long before you would be homeless?  That is a hard question.

Back in the olden days, the husband (that is how old I am) usually got a job doing something that had a retirement plan with it, a pension.  When he retired he had a lifetime income.  Depending on the type of position he had determined whether or not it was enough to live on.  

Don't forget Social Security kicking in. LOL What a joke.  Who can life on that?  Or let me rephrase that.  Who wants to live on that.  Not me.

I knew something had to change.  And fortunately, for me I was at the right place at the right time.

Have you ever thought about this?  Maybe you are in perfect shape and have handled your money well or have other income.  But maybe not. Maybe you are more like me.  I have made lots of money and then spend it all and more.  I have been broke.  I have ridden in limousines.  In my silly unfocused way, I never looked far enough ahead to see that the roller coaster was going to stop and I was going to have to get off at some point.  

I am going to tell you how I took charge of my financial retirement plan.  The plan takes some work (not like brain surgery work or anything) and I am partly through my 1096 day retirement building plan.  

This is not a get-rich-quick scheme.  I am not really into those.  In my younger years I believed that to be true,  but many dollars and time later I learned what I should have known up front. 

I call this my One Thousand Ninety-Six Day Retirement Plan.  This plan is especially designed for Realtors because that is what I do and I am where it is a shoe-in to do. If  you are willing to get your real estate license OR if you already have one and have a great business it can work for you, too.  


It is a teachable and organized model and system that will allow you in a very short time to have a predictable PASSIVE income that lasts your entire life and for one more generation.

Interested in learning more?  Confidential interview or conversation.  I promise what I say is true. 

To build careers worth having, businesses worth owning, and lives worth living and legacies worth leaving..
Pamela Madore
Keller Williams Realty
3955 S. Soncy
Amarillo, TX 79119

Business As Usual

PS . 1096 days is 3 years and 1 day.  That is how long it takes to be vested at Keller Williams and keep your Profit Share going forever.   copyright 2019 Pamela Madore

Thursday, January 17, 2019

Get Your Real Estate License Today! Great Class Discount!!

Pamela Madore
Keller Williams Realty Amarillo

Get your real estate license today!

Real Estate is a fun and exciting career.  It can make you pull your hair out or it can make you laugh until it hurts!  Here at Keller Williams Amarillo we are a family and we all play together!

So, how hard is it to get a license?   Well, that depends on you.  It is 180 hours (real time) of staring at your computer screen and learning extremely interesting things that you will probably never use in real Real Estate.  But it is our cross to bear. 

There are additional options.  You can do live online training if you would rather.  This is for people that can sit in one place for a long time.  Ho Hum.

That is the painful part of the whole new life you are embarking on!  

If you are interested in more info on how to sign up for the classes or you just want to talk more about the whole process---classes to paycheck---give me a call or email me and let's talk about it!

Don't delay!  

Pamela Madore
Keller Williams Realty
3955 S. Soncy
Amarillo, TX 79119

Wednesday, January 16, 2019

STOP!! Don't Buy That Car. Buy That House Instead.

Pamela Madore
Keller Williams Realty
Pamela Madore Mortgage

STOP!!  Don't Buy That Car.  Buy that House Instead,

OK.  So look.  You have been renting for years and just can't seem to find a way out.  So you get your income tax check back and go buy a car.  STOP!!!


Do you want to live in your car?  Maybe.  It is a pretty nice car.  

Cars have a tendency to decrease in value.

Let's do the house thing FIRST!  Then you can go buy a car.


House.  You might be more concerned about how to buy a house and do you qualify and how much does it cost and all of those things.  You have probably bought cars before and you know how to do it.

8402 Little Rock
Well, getting a mortgage and buying a house is a process too.  The first time you do it, it may seen overwhelming and stressful.  That is normal.  

What our Team does is work together to make things as stress free as possible.  So instead of a car, how about this.

Is your income tax refund on the way?  Call and talk to us or come and see us before you decide to buy that car!!!

Visit PamHomeLoans and contact us to find out how you can qualify.  It doesn't hurt, I promise.

Then visit Look At Homes In Amarillo to register for continually updates on houses coming on the market.

Angela and I look forward to hearing from you!

Angela Sheffield
Keller Williams Realty

Pamela Madore #289635
Pamela Madore Mortgage


Sunday, January 13, 2019

Mortgages Available For Self-Employed Buyers

The better the accountant, the less taxes you pay, The better the accountant, the less likely you are to qualify for the mortgage you need for your dream home.

Or maybe your dream home looks entirely different. Either way, unless you have been a could saver and can pay cash, chances are you are going to need a mortgage. 
For many years there has not been a mortgage tailored to those that make good money in their business but deduct so many expenses on their taxes that they can't get a mortgage loan!. Times have changed. As a Mortgage Broker I have the program for you
We call it a "bank statement" program. As long as you deposit your money in the bank, we can use your bank statement to show your income! That's right. Finally there is hope for us that hate to pay taxes. Let's just say, we want our cake and eat it, too. Now you can.There are several variations to this program. They include things like--business bank statements or personal bank statements--credit scores--how much of a down payment--and several other factors. If you have been told "no" over and over, maybe it is time to hear a yes!!
Just fill out this form with your basic information and any details you might want to add and I will contact you!
Pamela Madore Mortgage
NMLS 289635

Sunday, November 25, 2018

10 Steps To Financial Freedom As A Real Estate Agent

Pamela Madore
Keller Williams Realty Amarillo

10 Steps To Financial Freedom As a Real Estate Agent

Are there really just 10 steps to Financial Freedom as a Real Estate Agent?  Yes and no.  I am going to give you the 10 basic steps and with each step you may want to add more to it as time goes on.

Remember this---Being a Real Estate Agent is simple but not easy.   In order to receive the Financial Freedom I am going to write about you have to treat this as a Business and not  JOB.  This is something that you are building from the ground up.

You will find as we go through this I will refer often and write in the perspective of a Real Estate Agent for Keller Williams Realty because that is all I know.  You can, however, transfer the same skills to your current brokerage if they also have the tools.

So are you ready?  Financial Freedom in your future?  Let's begin with the 10 Steps To Financial Freedom as a Real Estate Agent.


We often call this your big WHY.  Essentially what that means is that you have to have a WHY to want to do this; to build Financial Freedom.

This can be confusing.  When I first heard that I needed a big WHY I thought that meant I needed to find a cure for cancer or single-handedly create World Peace.  With either of those two ends in mind, I had no idea what my WHY really was and how I could ever accomplish that by selling houses.

As I really began to dig down on this, though, I realized that the overarching WHY for mostly everyone is Financial Freedom.  With Financial Freedom you can do pretty much whatever you want.  Agreed?

I am a simple girl and for me that was still too big of an objective and too vague.  I needed to break that down even more.  Another obstacle I had, and probably some of you, too, is that I wanted it overnight.  I learned that isn't going to happen.

First I learned that this is the foundational step in Financial Freedom--developing your WHY.  Without that you really have no idea where you are going and how to get there.

Answer some of these questions for yourself.  Don't just scan them but after each question really think about it.  If you are real ambitious/serious you might even write the answers down.

1) Is your WHY  Financial Freedom or is it something else? (from here on substitute your "something else" when I say Financial Freedom)
2) Specifically what does  Financial Freedom mean to you?
3) When do you want to reach this goal?
4) Are you willing to do what it takes to get there?
5) Will you do what it takes to get there?

When we talk to/prequalify a buyer, there are 3 things that we consider.  They are:  1) Are they ready 2) Are they willing 3) Are they able.  From there we can determine how much time we need devote to each one.  If someone is Ready, Willing, and Able they have my full attention.

Apply those 3 things to yourself and determine where you are.  Are you Ready?  Because this is a journey that needs a beginning.  Are you Willing?  Starting a new business is hard work.  Are you willing to do what it takes.  Are you Able?  Do you need help and training to get there?  We all do on that one and Keller Williams understands that and has all of the tools for you to learn how to build your own business.

So let's drill it down a little more.

While we are building our way to Financial Freedom we still have to have a life.  We need time to spend with our friends and family. We still need food and clothes.  We still need vacations.

For myself, I had to set it up in little WHYs.   It started with simple things--like I wanted a new pair of boots.  That is a small picture.  A big picture was I wanted to be debt free.  I knew that was a key to Financial Freedom so I put that in front of my face everyday along with a picture of my boots.

Then comes decisions and planning.  I don't actually need new boots (women you understand this) but I really wanted them.  So because I believe I should have a Life Worth Living I decided on the boots still keeping Financial Freedom in front of my face.

Do this for yourself.  Plan one or two years out for wishes and wants.  If you do nothing but work you won't have a life.

Let me add one more very important aspect to this.  You HAVE to have a sense of urgency attached. Have you ever noticed/said--it is Friday already?  As my grandfather once wrote, our lives are like sand in an hourglass.  None of us knows how much sand is in ours.

Before you move to STEP 2 spend some time thinking about STEP 1.  I will say in all honestly, not everyone will read any further.


I have to admit that when I started teaching these steps Technology was way down the list.  Now I have moved this step up to #2.  Why?

According to statistics,  90% of homebuyers begin their search on the internet and a whopping 51% actually found the house they bought on the internet (National Association of Realtors -- NAR).  Along with these statistics,  30% of buyers found the house they bought with a Realtor and overall 87% of buyers used a Realtor when purchasing a home.

Just by reading those statistics from May 2018 NAR that should paint a very bright and colorful picture for you.  What?  You need to be found on the internet.

According to that same report,  63% of all Realtors are above the age of 54.  I bring that up only because those of us in that age range did not grow up with an internet, an I-Pad or a Smart Phone.  In essence that may mean that our learning curve is slightly higher than our millennial counterparts.

So plan on getting up to speed or hiring it done.

Where are some effective ways to be found on the internet?

  • Facebook
  • Instagram
  • Linkedin
  • Twitter
  • Pinterest
  • Snapchat
  • Zillow
  • Twitter
  • Blogs
  • Your Website/Websites
  • Too many more to name!

What are some things you can post in these places to be found?

Listings are probably the #1 answer.  If you have listings you can be sure that they will show up on . Trulia and Zillow automatically.  The rest of those listed will require some work and knowledge on your part.  It could be placing paid ads or Stories or just on timelines.

You can also post/publish information.  Buyers want to know the process of buying a house and sellers want to know the process of selling a house.  One of the easiest ways of posting information is doing exactly what I do and what you are reading.  Blogging.  

Think about how you found this article and think of ways you can replicate it.  If I can get my name out there so can you.

As I said at the onset, I am writing this with a Keller Williams Realty slant because that is what I know.  I have at my disposal my own personal search app,  pre-templated and written marketing material, and technology training.  I don't know if you have the same things available to you but if you do then learn how to use them and become a technology wizard and be the one that is FOUND on the internet--because that is where everyone is looking!!


What in the world does that mean?  Everyone reading this has heard scripts before.  Think about it.  When you check out at the grocery store "did you find everything you needed"?  At McDonald's "would you like fries with that"?  Or Tech Support--"is there anything that I can help you with"?  You can probably think of a dozen more.

It is not a coincidence that in every incidence all of the people say the same thing.  They are all trained to say this "script".  Customer service?   Increase sales? The purposes may differ but the technique is the same.

Real estate is no different.  One of the scariest thing a new agent has to deal with is "what to say".  If you are calling leads---buyers or sellers--you need to know what to say next.

You can google "scripts" or find some on you tube.  Keller Williams Really provides its agents hundreds of scripts so we never have the feeling that we don't know what to say next.

Of course, you can't predict every scenario but with a working knowledge of scripts your confidence level will increase dramatically.

We teach that you learn the scripts word for word even though they will sounds stilted and awkward.  The reason for that is so that you will internalize them.  Once you do that you can then "make them your own".  You can then add your personal touch and make them sound like you.

Remember this.  Even though you learn every script and try everything you know to do you are still going to get a buyer and/or a seller that says "no".  What should your attitude be?   How many times do you think the person in the drive through at McDonalds gets a "no" when asked if you want fries?  Do you think they take it personally?  Do you think they lose sleep because of all the "no's" they got?

Doubtful.  And neither should you.   Learn what to say, constantly moving toward self-mastery and you will get a win in your real estate business.


I also like to call this your "address book".  Nobody really wants to be in someone's database but most people like being in someone's address book.

Simply put, without people to talk to you aren't going to sell many houses.  Lead generating and your database go hand in hand because once you have someone to talk to you put them in your database as a contact.  The more contacts, the more people to talk to, which naturally leads to more appointments and sales.

Your CRM (customer relationship management) is your business.  If a dentist sells his business, what does he sell?  A few of those pokey things and an x-ray machine. But what is his most value asset?  His database.  His client list.  The same should be true for you, too.  Depending on what your business plan is will determine what you do with your database.

If your plan is to take the last sign off a listing and then be retired, you don't have to spend a lot of time with your database.  If your business plan is to create a valuable/salable asset, then you need to spend lots and lots of time (delegate if necessary) lead generating, building your database, and nurturing it.  Feed it and it will grow.  Don't give up on people.  Statistics show that people live in a house 5-7 years.  That means that you need to be nurturing these people 5-7 years.

I urge you to evaluate what you have and begin to create something of value.  Who knows?  Maybe you will want to sell it one day.


Following the steps in order, you now know WHY you want to have a real estate business.  You have a working knowledge of TECHNOLOGY which can be a platform to get your name into the community.  You now know SCRIPTS which gives you confidence in what to say.  And you know the importance of your DATABASE.  

Your next step is to get appointments with both sellers and buyers.  

Buyers and sellers both have a problem.  It is your job to solve the problem.  The very best way to do that is to gather, gather, gather information and dig deep to find out what the problem is and if you can solve it.   While you are doing this you are building a rapport that will help you carry through to the appointment.

There are many ways to get an appointment.  I have found that the most effective way is to simply ask for it.  There are many scripts to deal with any and all answers you may get.  Remember you aren't trying to manipulate someone into anything.   What you are doing is trying to help them solve their problem.  If you have done your homework, appointment making will be much easier.


This can mean two things.  It can be a signed listing agreement or a signed buyer's representation agreement.  I can only speak for Texas about the signed buyer's representation.  

In Texas if your buyer doesn't sign a buyer's representation agreement then technically you represent the seller.  That is pretty hard to do and can give you conflicting feelings.  By carefully explaining what that can mean to them, as a buyer, most will agree.  For those that won't, then your fudiciary is with the seller.

As you can clearly see, from the beginning of this blog that this is a step-by-step process of how to become Financially Free.  I am not implying that you have to become an expert on any step in order to proceed to the next one.  I am advocating, however, that you work toward self-mastery in each of the steps.  In will get you to the end goal faster and easier if you do.


Signed buyer's agreements and signed listing agreements aren't going to do you much good if you don't have contracts on them.  You need to find your buyers a property to buy and you need to find your sellers buyers for their houses!

There are a couple of things you have to get good at.  The first one is pre-qualifying your buyer and having your buyer pre-qualified.  That may sound like the same thing but it is not.  You need to pre-qualify your buyer to make sure that they are willing and ready to buy a house.  Your lender or mortgage broker then needs to pre-qualify them to see if they are able to buy a house.  When you have a ready, willing and able buyer you are closer to a contract.

The next thing you have to get good at with your buyers is finding the right house.  With 90% of buyers beginning their home search on the internet, you have to work toward self-mastery in the elimination process.  Help them find the perfect house then get a contract!

From a listing point of view, you need your marketing plan in place.  It is great to have another Realtor sell your listing but it is also pretty fun to sell it yourself.  Remember, if you aren't getting any showings then you aren't going to get any contracts.  You will need to re-evaluate price, staging, marketing, etc to see what needs to be changed.  Change it and then get your contract!


Negotiations can be fun, if you like to negotiate.  I find myself negotiating pretty much everywhere on everything.  In this regard I am speaking about money.  I'll get a 25 cent item for a dime at a yard sale.

If you think about it, though, you negotiate everything in your life.  You negotiate with your husband/wife on who is going to ________ (you fill in the blank).  You negotiate with your kids.  You can play on your I-Pad as soon as you clean up your room.

How about setting a time for a closing?  There are a lot of people involved and there has to be some give and take to get it set.

So in negotiating a contract to buy or sell a house, you will be helping your buyer/seller negotiate the contract.  Always remember that you are not an attorney so be careful what you say.  The ultimate decision is your buyers' or sellers'.  

Things that can be negotiated usually are money items--price, closing costs, surveys, home warranties, home repairs etc.  There are  other things that need to be negotiated, too, such as the closing date, who gets the refrigerator or the storage building in the back.

Just always remember this.  It has to be a WIN-WIN for everyone.  Sometimes it may not seem that way.  Always remember that it comes back to motivation.  Why is the buyer or selling willing to negotiate on that item.

Get good at asking questions.  We have a script for that.


Well, here you are.  Your hard work has paid off and you are off to your closing.  Different states/areas handle the way this is done in different ways.  Sometimes everyone is in the room.  Buyer, seller, escrow officer, both Realtors and perhaps the Mortgage Broker.  

Other times each side closes at separate times.  Buyer,  his/her Realtor, escrow officer and Mortgage Broker at one time and Seller, his/her Realtor,  and escrow officer at another time.  I personally prefer this way.  You never know what might have happened throughout the transaction which would cause you to believe it would be better to keep buyer and seller separated.

My biggest and most important advice to you is to SHUT UP.  Let the escrow officer do their job.  If buyer/seller has questions, don't jump in unless the escrow officer asks you to.  You've made it this far, don't say or do anything to blow it.  Just shut up.  

Once everything is signed, now you can congratulate them and set the next expectation.  Here are the keys.  Or, in the case of a seller, where are the keys?  That sort of small talk thing.  Then promptly go back to your office (or in the case of Keller Williams Realty new mobile app) go to their profile and add in the information about the closing.  Date. Details to remember to use as part of your ongoing nurture.  


Walking away from the closing table with a paycheck is a great feeling.  You are financially being rewarded for doing your job; for putting into play all of the things that you have learned.

You are one step closer to Financial Freedom.  However, unless you plan on stockpiling all of your paychecks, you aren't really going to reach that peak/goal.  

Taking that money and making it work for you is what will lead you to Financial Freedom.

Watch for an upcoming blog about 5 ways to make your money work for you in Real Estate to achieve Financial Freedom!   

Good luck and please post a comment below.  I always like to know if I am writing about something worthwhile and something that is important to a segment of my audience.  

Following me will guarantee you get all upcoming info blogs!

Pamela Madore
Keller Williams Realty Amarillo
3955 S. Soncy
Amarillo, TX 79119

Build Wealth Without Limits

Reprinted from OUTFRONT Magazine @ 2019 Keller Williams Realty Build Wealth Without Limits Through Profit Share Home Viewpoints ...