Category: Mindset

Episode 036: Online Lead Follow Up with Agentology

Today we have David Tal, owner of Agentology on our podcast!

Agentology understands agents are busy and wants to become your ISA, by helping you engage all of your leads, do the necessary follow ups, filter out all the junk messages, and set up appointments and phone calls with the most motivated prospects!

ISA: Inside Sales Agent who is suppose to set these appointments for people.

Today, all real estate business is either being on a team or building a team and buying leads to be successful is necessary to even have a chance in this industry. So, as a team leader, Agentology’s concept sounds awesome!

How was Agentology developed? We’ve all seen the massive shift in real estate that the internet brought. Technology has empowered the consumer to do a lot of the work on their own but it also eroded that human connection that used to be made right away. Nowadays, agents have to bridge that gap. To do this we have to go online to bring them offline and meet them face to face.

David was a broker for about 10 years. Though he and his team were doing all the right things to generate leads, they were missing the ‘in-between loop’ to connect it to. So he and his brother decided to become the first lead generation service to pre-screen their leads. Agents absolutely loved this! Eventually, they decided to open the platform up and service all leads and help agents with all of their lead sources.

So are they really sitting around in a room and going through each lead? They look at data more than emotion to see what created the most engagement gave back and the most results. They also look at different scripts and see how they can blend them all together. And we are only testing, so if in a few months we find something that works even better, we will adapt to that! Our goal is to convert to the higher level, if this is calling or texting, this is what we’re going to do.

Sometimes agents will call/text 3-4 times with no answer; When should they give up? Data shows that between 8 and 10 attempts is when you will convert 93% of all the qualifiable leads. You can make another 10-1000 attempts but you are only working on getting another 7%. So it’s just a matter of where you want to focus your attention. Use as much human interaction as you can, as this is when you will convert the highest. They recommend making 5 attempts within 24 hours.

Depending on your demographics, you will find out if it’s better to text or call. Statistics have shown for example that millennials get really annoyed if you call them.

25% of leads come in after hours. That’s because this is when people get out of work and have time to look at things online. They rarely expect a response at that time of the night and people are super impressed when we reach out to them! It is important to understand that the consumer of today is around the clock and weekend.

Agentology has over 100 people now and is open 24/7, like a well oiled diner!

What do you say to an agent who is opposed to ISAs? It’s a fair point but when a lead fills out a form and is contacted almost instantly, that makes the agent look more professional and responsive and shows that they have a process and a team, which makes the customer feel more comfortable. Customers feel like the agent has a real business. Also leads tend to lower their guards with them because they know they won’t be pushing an agenda. So it’s better to respond to all your leads humanely, almost immediately, than only a fraction of them because you want to be the one who does it.

How does the lead ‘distribution’ system work at Agentology? They have different integrations with CRM’s so that they can keep their routing rules in place. They are also starting to work on their own routing functionality, though they don’t want to be another CRM but work with all of them and be that filter that keeps everything in place.

Qualification process. They have leads coming in instantly. Once they receive a lead, they jump right on it. As soon as they get a hold of the person, they will try to enhance it by gathering far more information. Part of this strategy is to build trust and show them that we care and want to know who they are. Once we qualify a lead, we send you all the information we gathered to you in an email. Now you have context to continue that conversation.

From all the companies Agentology works with and gets leads from, who’s the best performer? The highest converting source is realtor.com, followed closely by Zillow. About 45-50% of leads are qualified. However, we also factor cost per lead. We ask agents to look at their business on a cost/qualified lead basis. So it’s important to look at all options. Facebook leads are great as well for example!

If you were an agent/team leader today, and only had a week to put a plan together, what would you put together? Depending on your budget, you don’t want to invest in the big portals (like Zillow) unless you can spend at least a few thousands per month on it. So, like investing in stock, you need to diversify. David will recommend putting as much as 50% on the best portals (like Zillow) and the other 50% on cheaper leads where you can get a higher volume from. Track, test, and see what works best in your market. I’d certainly combine it with a lead qualification company.

Anything else agents need to focus on? The consumers we are meeting online are earlier in the process than what they use to. They are not buying in 1-2 months but in 6 months, or possibly longer. So it’s important not to be discouraged by that show them you have a long term strategy and that the agent is the best suited to perform the task.

David also recommends to friend people on Facebook after having a conversation with them and engage with them. This will favor your algorithm on Facebook and your posts will start coming up first on their wall, casually building a relationship with them!

Agentology focuses on quality. They have a true culture of coaching and training, right here, and not abroad. They also text/call/and email 24/7; They are one of the very few companies that do all this! They also share a lot of data inside with agents. Not to mention they have a built-in referral network, which allows you to make a 25% referral fee on all the leads that you don’t want.

Agentology offers a 30-day free trial! www.agentology.com/30-day-free-trial/

–Treat everyday like it’s day one! David

Episode 035: It’s All about David Serpa’s Team. Learn the Ins & Outs of a Mega Team.

David is a Marine Corps combat veteran, father of two, and successful real estate team lead of 27 agents! He has his own amazing podcast, ‘It’s About More Than Real Estate: With David Serpa’, that you can find at: http://apple.co/2xhrsxW; Make sure to follow and listen to it!

His jump start into real estate:

He got into real estate a few months after he got out of the Marine Corps and in his second month, he opened 7 escrows and made $35,000. He now leads a successful real estate team of 27 agents! 100% of which, that have been here for over 18 months, make over $100,000 a year, which most agents can’t do.

How did he do that? His Marine background helped him take initiative.

Who works for David’s team and what is he looking for in his teammates? Typically, they hire about once a year and they are very protective over their team. His team has been so successful that they are now coaching new team members, until they each have 4 members in their own team.

How do you build a team? The only time to really start and/or expand a team is when you have more business than you can handle. Most people start their team way too early. Realistically, David believes he started his too early, but, at the moment, it had just felt like the right people at the right place, at the right time. When David decides to expand, he makes bold moves. Refers his team to even the biggest  money opportunities that get to him, rejects the ‘scarcity’ mindset and invests, to get back.

What does the interview process look like for the new recruits? It’s been different for each evolutionary process. At the beginning, David will interview people who he thinks will be a good fit for the team. He will also ask for a cover letter, to disqualify the people who are lazy to even do this.

And how do you even find people to hire? David made group interviews that he let his agents lead and interview, after he introduced the team to them.

Who is he looking to hire? He is looking for people who fit his culture and for good people who could qualify to be great agents, even if they are not necessarily very experienced already in real estate. David is looking for each candidate’s ‘dark corners’, what could qualify them to be or not to be great agents and how this could benefit or hurt them in their real estate career.

His team is currently building an internet web, a series of evergreen content that will always be out there and attract different kinds of people to his business; once this content is out there, it will be there forever, through blogs, podcast, and video.

How is his management structure of 27 people? David honors people’s desires; if they don’t want to coach, they don’t have to! However the schedule he likes to encourage is for everyone to start their day with him, the new agents then login a call with their team lead and they get a one 30 min session of coaching per month. It’s about delegation; the more you can delegate, the more you can focus on the things you can do well. This is a 100% performance-based and meritocracy system that David encourages.

Can anyone be on a team? Think about who you are. If you are looking for a family, a structure of support that will help you and you will help them, then you should look for a team and a good one.

What’s the average time someone stays on David’s team? David can’t think of anyone who’s stayed with them for more than a few months and left.

Is there a system in place that David implements for leads? This is a question for Rob, he is the one who generates the leads for the team.

What about open houses. Open houses are huge for David’s team. He loves them. The only reason that one will not close a lead in the open house is because they don’t know how to close the lead. Open houses don’twork because agents don’t work, there is nothing wrong with the open houses! Not to mention, you get an education through open houses.

Do you believe that marketing is really important to drive the lead to the team? Absolutely! If you are great in creating content, or ads, or videos, then do it! Just do something. Perfectionism leads to procrastination, which leads to paralysis, so, no matter what, do something!

What are your thoughts on expansion team? David is not that big on expansion team. He would rather focus on his own market then expanding and getting a lesser market share with average agents that he doesn’t even get to see all over the country. David would rather focus on creating content around fantastic agents in a larger broker setting. Quality is so much more important than quantity.

What about listings and premarketing? If somebody calls Davids and wants to list their house, they will work with one of his fantastic listing agents. David has created a bunch of celebrities around him, so it’s less about David and more about his team. David avoids extra work and creating systems that don’t need to exist. He has personally built his listing presentation on prezi with videos of him and all of their marketing flyers. They spent way too much time with the client to build relationships.

What about buyers agents and their ability to sell property? If they are buyers agents, they will bring that lead back to the team and the listing agents will take over.

Who picks the listing agent? Zach is our primary listing agent because of his personality profile and the way he represents me.

Does everybody have a different deal? They typically put everyone in the same deal and everyone has to earn it. Once they make a six figure within 12 months, then everything changes. David is able to attract a lot of talent and is certain that his success is due to his team.

How many people would David like to have on his team by, say, January? He would like to keep that number at 27. He is never worried about adding. A lot of people contact him to join his team, they are kind of the cool kids, and they will be added, when the time feels right.

Number one advice for somebody wanting to start a team? Understand who you are, what your design is, the things that you do and other people don’t so easily. If you need to be surrounded by people, then do so!

Episode 034: Using Video to Build & Maintain Relationships. Covert More Leads With Video Branding

Mike Cuevas has been in the real estate business for over 12 years and specializing in real estate lead generation. Mike believes that every office, mortgage company, and title company should have a “marketing dude” on staff. He has set out this mission in 2015 and will not stop until it’s complete.

When Mike Bjorkman met Mike Cuevas, Mike was the short sell king of the world!

What’s the difference between Chicago and San Diego? Lifestyle! It’s always sunny in San Diego.

What are Mike’s thoughts on video? Video is a brand strategy. When you use video to market your brand, you subtly remind your clients what you do/who you are and you will start building your audience and build trust around yourself. Video is more memorable and makes more overall impact. Video allows buyers to see you as an agent and envision themselves working with you or not; We’re even using it to recruit; It’s a constant interview: Use video!

A lot of our new agents who are brand new and have been crushing it and killing it by doing everything we say, especially video. They are authentic, realistic with their videos, and we watch them sell a lot of houses.

The importance of branding. Mike Bjorkman knows this, he’s built an entire world around this. And it’s so important to do this. Branding creates mind awareness. Mike even wears a HomeSmart shirt. Your logo is what people will remember and stay top of mind. And be consistent with it. Think Nike!

If you want your facebook ads to start working well for you, understand what your brand is and who you resonate the most with. That way you can better target and learn your demographics. Make the test and ‘target yourself’. The people who you will resonate with are the ones that are ‘just like you’ in the end, and who you want to go get a beer with.

Logo: The more people start seeing it, the more it sticks in their mind. This is how Egyptians told stories! They did it with pictures instead of text and this stayed longer in people’s minds.

With your whole marketing package, you do more than the status quo and create an experience for your future clients, which makes your clients feel amazing after meeting with you.

What is Mike noticing in his own company’s success?  Their mentality is similar to the one Mike and Julie have: to empower agents to build their own brands, versus having them relying on one of the companies.

The biggest mistake in his career Mike Cuevas ever felt he made was to give away his relationships to his team agents during his highest volume years, when they were doing very good in the short sales years ago. These leads become part of your audience and, ultimately a referral source, and that’s ultimately how  you build a brand.

What are Mike’s thoughts on video emailing, such as BombBomb campaign, and his database? Mike believes that everyone should be using video email. There is about a 30% open rate on emails. The whole point of sending emails is to stay on top of a mind. The only goal of emailing is to nurture your relationships; People will call you if they want to work with you. Keep the videos below 90 seconds and make the video a little bit exciting!

If you have a certain database of clients (e.g. A’s, B’s, and C’s) and want to communicate with all of them, should you use a BombBomb campaign or a regular campaign? BombBomb for all! There is a  total difference in a video campaign to your relationship list as opposed to your lead list. The content of your video in a lead list is going to be less personal than your relationship list. Because on a relationship list you are nurturing a relationship. So we want to separate those two lists.

Now to determine who goes on your relationship list, do something very simple: Go on your facebook feed and look at the names that are on that first list. Imagine you were on facebook and you just saw a picture of that person with their keys to their new house and you get a sick feeling because they didn’t use you, then, yes, they should be on your relationship list!

The impact of video in Mike Bjorkman’s career. Mike sends them a video presentation before the meeting. Typically half the people watch the video. The ones who did watch it are generally ready to jump into the paperwork. The ones who didn’t, even if referrals, are more cold, on their guards. So he makes them watch the video while walking through their house. On his way back, the dynamic has completely changed and they are finally more confident, relaxed; To see the mindset changing is heaven! So there are instances when professional videos are very important for your business! People are hiring you for the experience and part of it, is the education.

Authenticity of the communication level. Be yourself, don’t act like a robot. Speak the same way you speak to your best friend. The more unprofessional the better. At the end of it, that’s all people want; They want to ultimately trust you, more than anything. And you may turn some people off and that’s okay.

For more info, go to www.realestatemarketingdude.com

Episode 033: Time Management

Let’s take “I don’t have time” out of our vocabulary!

So what’s the Theory/Why Bother?

  • Sometimes we have so much work; We need to manage the workload
  • Improve productivity
  • Work more or less
  • Relieve stress
  • Plan time off; if you work seven days a week, you end up burning out and you become a frustrated, unhappy person!

Perfect Daily Schedule

Though you could be managing your day down to the last minute, and this might be a great way for you to start off, Mike’s perfect daily schedule consists of:

-1 hour/day of self-help

-1 hour/day of skillset, training

-2 hours/day of previewing property

-2 hours/day of prospect

-1 hour/day of follow up

If you follow that schedule, you should hit very close to 100 homes a year!

We often talk about not having enough time. Rather than focusing on that, and complaining to yourself or others about not having enough time, think about what you do have enough time for. Start talking and thinking about that instead and, pretty fast, you will realize how many things you actually do have time for.

Success Rules

  • Take 20 minutes at end and beginning to set your schedule
  • Schedule time for fires; leave a 30-45 min. window; you will never be behind!
  • Do not disturb sign is a must; it is crucial you have that in your office/house
  • Block out distractions
  • Learn to say no
  • End day at fixed time; If you end, and even start, your day at the same time, you actually have some normalcy in your life.
  • Do things you like; most real-estate agents do things they don’t like; Stop doing that! Finding out and doing what you like will actually make you more proactive and better at your job than doing something you hate and do with frustration!
  • Delegate
  • Find out who’s wasting your time and stop hanging out with them
  • What is wasting your time? For Mike, it used to be Facebook at some point.
  • Can you cut previous commitments? What can you cut out?
  • Batch similar tasks together and plan out your day accordingly
  • Take mini breaks; if you don’t rest and relax, you’re screwed. Be energized, go take a walk; this will keep your brain working
  • Take lengthy breaks. These are 3-4 days that you should take off per month to re-energize

Procrastination

Firstly, notice that you are procrastinating and acknowledge this. Try and do so without judging yourself and without getting stressed about not having enough time. Simply say to yourself a simple phrase as “procrastinating” and “moving on”. Choose a phrase that works for you. In doing so, you’ve acknowledged it – you’re procrastinating. Now you’ve acknowledged it you can move on to the next step – doing something about it. Do not judge yourself.

Time Sucks          

  • Phone calls. Be diplomatic, this will help you minimize the calls while being also helpful.
  • Email; The worst time suck!
  • Social Media; be careful not to let it turn into a tool of procrastination (e.g. by stalking people)!
  • Texts
  • Work socialization; For importantly, do not spend time with your competition, all they want to do is learn your secrets and list homes you are suppose to be listings
  • Team Interruptions

So Now What?

  • Learn to watch time close
  • Factor in time for procrastination; just face it and include/extend a little bit of time for procrastination
  • Do hard or nasty stuff first; if you are procrastinating the nasty stuff, you’re day is going to suck!
  • Set reminders all the time
  • Focus and shut all apps down
  • Acknowledge success and reward

Pareto Principle of 80-20: The 80% of your time, focus on the top 20% of the ways to get business

Books we love:

-The 7 Habits of Highly Effective People, www.stevencovey.com

-The 80/20 Principle, www.richardkoch.net

And we’ve only scratched the surface; go get more!

Episode 031: What’s Up With Social Media Part #2 Must Know Changes

A few other things we need to embrace as real estate agents:

  • Which other social media platform should we be using? Instagram, Snapchat, Twitter, Pinterest!? Deanna is not particularly a fan of Snapchat but if you do love it, they have just opened up new advertising abilities and there is a bunch of different tutorials circulating online, opening up new opportunities that we can now better afford.

Instagram is finally finding a place into Mike’s heart with their feature Instagram Stories. How should we, real estate agents, utilize Instagram?

If you are already doing native advertising on Facebook, make sure to link your account to Instagram to add tons of extra eyes on your ads! It is also a no brainer for real estate agents to make your Instagram account business and personal.

You can now already upload pictures you’ve already taken to an Instagram story, so you will never run out of ideas to post and you will look like a fun person to follow!

So if you really want to make an impactful story, just take 20 minutes to curate something creative from the photos you already have!

Another thing that is changing with Instagram is a new, easier way to promote content on Instagram, adding really cool ways to target people and look at statistics. So we want to encourage local businesses to make at least one story a day because they are becoming such an important part of advertising! And if you are going to be promoting through Instagram, you want to at least keep your feed updated and so post at least once per week to keep yourself ‘rolling’ on people’s feeds.

So make sure to connect your Facebook, Instagram and Twitter account. The great thing with Twitter is that you can real an entirely new audience with your advertising; there are people who get on Twitter because of how accessible and mobile friendly it is. Twitter is also trying to compete with Facebook, create all kinds of new advertising features. For example, they have made it easier to get followers, fast, with very easy and sharp ads, by improving for example targeting or potentially increasing the number of maximum characters per post, and opening up their API to a lot of different places and you can even actually now go live on Twitter!

As for Pinterest, it’s embracing video and making it easier in general for us! So if you love Pinterest, take advantage of this new feature. So pins with video or pins that lead to video get about 40% more interaction. They have also started improving their advertising. So you can now upload your amazing videos and create an ad around it and then turn around and look at the statistics from your videos! Pinterest also allows you to now automatically share your pins with Twitter.

  • If you are using a service that is ‘automatically generating content’ for you, you may not always be able to pick the images they will use, but try to get them into doing something that is a little more personal for you, or just take the time to do it yourself! For example, by using Adobe Spark Post or just Buffer.com
  • Another app that is great for video is Denoise, which allows you to cut off the background noise from your video. Typomatic is also another great app to add text to your videos and Quick by GoPro is great time lapses!

Episode 030: What’s Up With Social Media Part #1 What You Must Know About FB!

We’re going to talk about a few things that have been changing and evolving in the social media world. To *survive* in this industry, you need to be listening to this entire podcast!

We have a wonderful guest today in the studio: Welcome Deanna Leigh Miller, co-founder of Stark Social Media, who’s in charge of our social media/web design and with whom we’ve been doing the Stark and HomeSmart Social Media Series, which you can all find on her StarkSocial app. They are life changing; you should go and listen to all of them! You can also listen to her on her own podcast, The Social Life.

5 things that we need, as real estate agents, to embrace:

  • Facebook Live Videos; this is your moment to reach whoever is on Facebook/likes you page/is following you etc. So you need to make sure that you are targeting your audience, which hasn’t been that easy in the past. In the coming months, there is going to be the opportunity to build and create a more tailored, ideal audience. Facebook rolls things out to page that are the most active; so do something with it!

So is a 2min video that gets about 500 views a successful live video? –Yes, that’s fantastic! 500 people got to engage with you and kept watching your video (Facebook only tracks a view after the viewers watches about 30 seconds of it and more). Plus we don’t always want to be seeing you at your open house; we want to get some snapshots from your life, to get a sense of who you really are. If hundreds and thousands of people get to see your video, this is working for branding as it gets your name out there!

You want to make sure that you are connecting with people in your community who are supportive of your business and give them a shout out from time to time. For example make a video at your favorite restaurant; anything that can benefit your local community.

  • Facebook has been developing new ways of advertising. We so the addition of the Lead Generation Ads. Lead ads let people show their interest in a product or service by filling out a form in the ad with their details and allowing a business to follow up with them. That was huge for real estate agents and changed the way we think of advertising.

Facebook is going to continue to roll out more and more features like the lead generation ads. And there will be more cool stuff, like doing ads with videos!

  • So how much should we be spending on Facebook per month? I spend about  $3,000/month, which gives me a return on investment that is quite good. Should we be spending about $10,000/month? Deanna recommends to spend about $300-$500/month if you are just getting started and you should be looking at what your goals are and what you have accomplished so far in terms of sales. And this is also part of building your brand identity!
  • It’s always going to be a thing and it’s just going to continue getting better on Facebook because they’re always improving their algorithm for that. For example, I have noticed that they have added more interests, hobbies and other options to better target your audience. You can even better pick the income level of your audience now!

Facebook has also opened their API to a lot of new tools. That means that there are a lot of new tools you can use to retarget and ‘set and forget’. Outside Ad placement is also offered more and more though Facebook so you can actually now see you ad on, say, Home Depot or LA Times blog! But remember it all depends on your budget; the bigger the budget, the more prominent the placement of your add will be!

  • LinkedIn has updated their targeting so you can now target zip codes and area codes now as opposed to just, say, Los Angeles or California, which is really big for real estate agents! It is now way easier and budget friendly for those of you who have set up a business page, to boost individual posts and it works like Facebook’s boost. LinkedIn will guide you through the steps once you login to your account!

You can do all kinds of ads on LinkedIn, like a market update or write a blog post and then make it an ad campaign. You can also update a video directly on LinkedIn!

Episode 029: How To Get Your Offer Accepted Every Time! No More Bidding Wars!

“Mike, how in the world do I get my offers accepted?” Buyers are getting heartbroken because their agents can’t get them houses!

Writing The Offer, Negotiation, and Setting Buyer Expectations
If you’re going to work so hard showing homes, you might as well get it to the closing table.

Writing A Strong Offer
• Ask the listing agent what they want
• You should double app with the listing agents lender
• Fax machines screwed up our market! This turned into emails and so forth! Hand deliver and try to shake hands with listing agent, it just gives this warm fuzzy feeling and gives you a chance to get to know them a little bit. It’s important sometimes to use old school family values in our business.
• Give a small but yet somewhat valuable gift (‘guilt presents’) to listing agent with offer (wine openers for example are great!)
• Send a package that’s meaningful and fun
• Your letter about the buyers should include a FAMILY PICTURE – Nothing more powerful! This shows that you are a serious buyer to the listing agent! If the person has no emotional attachment to your home, how hard do you think they’re going to fight, to close this escrow?
• A second letter should be from a BUYER
• Point out what buyers love about the HOME or YARD
• Let the agent know the buyers have had the chat about not ASKING FOR NONESENSE REPAIRS.
• Buyers are willing to BE FLEXIBLE AND SENSITIVE to all sellers needs; this is always a breath of fresh air and makes your statement so much stronger, minimizing contingencies!

The Details Matter Most
• So, minimize contingencies
• None is best
• Pre approval subject to appraisal and clear title only
• Earnest money should always be 5% OR MORE

I like to think that deposits do matter; it’s another step on your ladder that proves that you do have the money and you mean business and, at some point, you could be risking that deposit. So the higher the deposit, the more it will mean to me, and the more it will mean to that seller.

• Make the deposit NON REFUNDABLE
• Write an as-is clause in the offer or some call it PASS OR FAIL within 48hours
• Write an ESCALATION CLAUSE; what we write is ‘Buyer has the right to pay $1000 over the highest offer, not to exceed ___’. You got to protect your buyers with that, so that they don’t find themselves in situations where they can’t afford the house anymore.
• Include a COPY OF BUYERS CREDIT REPORT; when I am a listing agent, I always want to see that! Obviously get buyer permission
• Always provide PROOF OF LIQUID FUNDS; this is a big one for me as a listing agent!
• Write in a DELAYED CLOSING PENALTY Try $50-$100 per day; If you really love that house, this is just another piece of that ladder to get to the top!

Costs Paid By Buyer
• Have buyer pay selling agents COMMISION; there is nothing wrong with the buyer paying the commission!
• Buyer to pay sellers CLOSING COSTS
• Listing agent bonus PAID BY BUYER; it doesn’t really matter how it’s done. Check with MLS and State laws however.

How To Write Full Price Or Above
• Set up expectations at the initial BUYER CONSULTATION
• Price you offer like you were LISTING IT FOR SALE
• Go over all 90 DAYS COMPS
• Prep buyer for MULTIPLE OFFERS
• Remind the buyer that just because today there is only one, tomorrow could HAVE MULTIPLES. There could be another family writing as you speak.
• Agents might not always TELL THE TRUTH! Agents want to double end homes and male YOUR COMMISSION; they need to understand that.
• This is one of my favorite lines: Remind the buyers that a couple grand to save their dream home is pennies over the life of a tax deductible interest rate. If you only went out to dinner one time less, it will only make up for the difference!

Episode 028: Open House Buyer Conversion

In this episode, we’re going to talk about Open House Leads. If you are serious about learning how to do open houses, you have to listen to our Episodes 14 & 15, Open House Part 1 and 2.

Open House Leads Are:

  • Let’s focus first on how cheap it is to get an open house lead. For probably even less than a $100 you could have a knockout open house! From my experience, I’d gladly pay $1000 throwing a mega open house with a 100 people through, than buying a few crappy online leads a month.
  • Easiest to convert. If you say the right thing, you’re going to get a good deal or a good lead out of it.
  • Get as many or little as you want. If you want to be super lazy, make your open house 1:00 PM – 4:00 PM, or if you want to get a lot of leads, do it from 10:00 AM – 6:00 PM.
  • Never ending supply. There are open houses everywhere; there’s always going to be open houses on the market and people love to physical see homes!
  • People take them very seriously. Chances are, if they’re willing to stop a car and get out of the car, go talk to them because they’re pretty damn serious! They’re either very serious or totally not! There isn’t really an in between.
  • First impression means everything. People think we, agents, are all the same. So this is your one time to impress the hell out of people (buyers) with a great and unique open house!

Open house Conversion.

There is a certain way, that agents attack people at the door because they get so nervous that somebody is coming in! They become these shark salesmen waiting outside a house. So, attacking at the door is a ‘no no’. I always strategically put my setup, with monitors, laptops, printers etc, very near of where I am going to be and I make myself look a little bit busy (ruffling papers, printing something out, etc.). That way, they know I am not attacking them. I finish up my ‘busy work and then turn around and look at them and say “Hi, I’ll be right with you but, make yourself at home” Quickly finish what you’re doing and apologize and let them know “…I was setting up an appointment for a couple to see a foreclosure I have down the street…” and start the conversation there with what brings them in today.

We also want to have some guilt food/drink, at least a bottle of water, so as to make them feel welcomed. Pay attention to how the act when you offer them something, that will bring light to their personality styles.

Now it’s that awkward position where they’ve been in the house for a couple of minutes but they still haven’t looked around the house as they might have decided already they don’t like it. Don’t simply hand them a flyer. In fact, don’t have a flyer at all as it is very distracting and takes the focus away from the house. Instead, invite them to show them the house they are in “check out the living room, and the kitchen, etc”! That will take away the awkwardness of these first 2 minutes!

Just talk to them and ask them questions that they can answer instead of just pointing at rooms and naming them! By asking the right questions, you will remain and in control and understand their personality styles. You continue to hang back and ask questions then can answer while also providing information, “This house is 1200 sq feet. Is it the size you are looking for?”

Now is time to get serious: “Are you looking to purchase in this neighborhood? How about I give you a list of foreclosures or short sales within the Santa Clarita area and we can go from there? Did you know almost half of the houses available are not open or on the MLS? Are you serious about buying a home in the next week?”

And follow up, make the appointment. I am going to give them a brochure, a pamphlet, a market evaluation, a list of foreclosures and short sales etc: I am going to give them something and they will be with me for another 20-30 minutes, until they set up an appointment.

So Open Houses are like an absolute total 100% goldmine! But you just need to have that conversion script and dialogue down and prepare the open house the right way! And don’t get frustrated, because it’s going to take some time to get used to doing this but, if you do it right and practice, you will see a huge difference, really fast!

Episode 027: Online Lead Conversion

Let’s talk about Internet Leads. If you missed Episode 26, go back and listen to it, to better follow us on this episode!

So how are Internet Leads different form Sign Calls?

Internet Leads
• They can be expensive! These platforms (e.g. Zillow, Realtor.com, Trulia etc.) have made it almost impossible for me to get my leads directly, without paying for them! However, now I am a huge fan of buying leads; building a team requires buying leads, just so that you have a guaranteed slew of leads to go through and this helps you diversify your resources!
Just like in Vegas, it’s almost impossible to win with a little bet. So the more you spend on Internet leads, the higher your odds of converting are. If you only have, say, $500 extra to spend don’t buy leads! Now, Facebook that’s a different story; $500 could bring you 50K.
• They are much colder than sign leads
• They are pushing buttons like crazy; Because we want faster information right now!
• If they’re rude, it’s OKAY. They’ve only gone through a cold stage, they’re not serious yet and they’ve got bombarded. It’s kind of like door knocking; you don’t know what these people are going through.
• It could take 7-11 months to really cultivate these leads, to find the right timing to get a hold of them, stay consistent, follow up, and build the relationship with them. Know your personality styles!
• Now conversation rate is down to 5%. So, as of today, we are only going to close 1 out of 20 leads. The point I am trying to make to the agents out there is, don’t be like me and first completely discard leads. Instead, learn to understand them and use them wisely; It’s a whole new world of Internet leads for us!
• If you think they’re real buyers, set the appointment no matter what. If you don’t somebody behind you is going to have a better script and getcha!

In a normal call from an Internet lead stress to them, “did you know that 50% of the homes available are not even on the computer yet? So if you knew that you had an agent committed to finding homes that are not on the market all day and every day, would you like to come see some with me?” “Sure” “Fantastic!” “So one of the benefits of working with Team Bjorkman is that we do find better deals that are not on the market…” So those same scripts with sign calls, Foreclosures, Short Sales, and Not On The Market. Sometimes we have to tell a story to have people understand, but it’s important to pick up on the buyer’s drivers, when they indirectly say that they are keeping up with the conversation and are curious to see know how you will put your words into action!

Find out their hot buttons, and again it is super crucial to state all properties are not online! It depends where they are in the process and in their life. Pick up on where they are in the process so say, if they got water boiling, dogs barking in the background, life may stop them from having a strong buying position. That’s why I like online leads, because you need to find out where they are at in the buying process by talking to them.

Episode 026: Sign Call Conversion

Let’s talk about converting buyer leads.
It’s not that hard; you just have to know what to do, what to say, and when to say it!

Don’t forget to learn more through our Facebook Groups:
• 10 Week Social Media Series
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Getting To Know Each Kind of Lead
• Open House Prospects
• Sign Calls
• Internet Leads

Close the first time every time!

These are the three forms of leads that agents typically work with on a day-to-day basis. I wanted to help agents understand that these are very similar and different and so, they need to be practiced differently.

Theory of Sign Calls
• They are designed to get as many quality leads as possible
• They are a lot cheaper than buying leads. A way to do this is to put phone numbers that are tracked and usable by to an agent (e.g. with Proquest) or you can just put your own cellphone number on there. However you should be able to return a call in 30 seconds!
Force the phone to ring as much as we want. We can put out as much or as less information on the sign as we want (and obviously we would recommend little if you are going for buyers).
It’s very serious because they have seen this neighborhood already.
• This could be your only shot with this person.

Practicing a sign call; ”One of the benefits of working Team Bjorkman, is that we preview homes all day, everyday and specialize in short sales and foreclosures which aren’t yet on the market. Not to mention that our time is flexible, so we can make sure to accommodate you the best… Well this particular house is still available and if it seems to be a little bit expensive for you I could definitely offer a list of short sales and foreclosures that would be a better deal. If I could show you a home that’s not on the market yet would you see that with me?”

We want both decision makers to be present in the process as we don’t want to be wasting time if, say, one of the two spouses is not quite ready to take the step. We simply don’t want to be repeating things twice.

So there are a couple of things we need to worry about with Sign Calls, just to summarize:

1) I have foreclosures and short sales not yet on the market. Every time you say that, you’re going to get a ‘yes’. Unless they do not understand that there is a difference.
2) Better deals. And I am not only talking price wise; it might mean, “this one has a pool, this one has a view, a two car garage…” SO when I say a better deal, it may be better for them. So offering a better deal is having an open mind on what matches they are looking for, it could be better parking, or a bigger pool for example.
3) Setting the appointment, closing the first time. Remember this could be your only shot!
4) Prequalification letter. You might have not asked for a prequalification yet, so as to prioritize bonding time with them to make sure we are the first agents they meet. So just assume they have their prequalification letter and ask them to send it over to you, as ‘sometimes some of these sellers won’t let us in without that or the other agents’ and encourage them to spend 15-20 minutes with their lender to make sure they’re the most comfortable and beneficial payment wise.