Category: Property Management
Today we have a very very special guest: Amanda Yates! We’re going to talk about what it’s like to be a new agent.
Amanda is doing so well, she has 8 sales down now, in less than a year; which is an amazing job! Though Amanda was recommended to get into real estate before, it was only when she and her husband bought their first home and saw what a killer job their agent did, that she decided to take the big jump. She wanted to help people with real estate.
She worked 9-5 in a bank as an accountant before. She felt drained and wanted a change!
There are 4 personalities in real estate: expressive, driver, amiable, and analytical. What’s nice about real estate is that there is a type for everyone.
How were the first few months like? She first thought it was going to be a service job and hadn’t realized how many practicalities she would have to deal with everyday and how many people are actually involved with it.
Did she ever have second thoughts about being into real estate? The first few months were very exciting, though felt very ‘ADD’; You are trying to take it all in but it’s not until you get to practice all the theory you’ve been absorbing that things start to make sense. And she had her first transaction within 30 days!
What emotional challenges were caused from these second thoughts? They talk about the ‘real estate roller coaster’. It’s super exciting to close the first deal but, unless you treat it like a business, you’re going to go up and down the first couple months.
Was there ever a ‘ah-ha’ moment, when things ‘clicked’? Yes! They recently went to club wealth and she got to network with a ton of successful people; Seeing how people talked about Mike with so much respect, hearing it from other people too, was such an eye opener! Also sitting down with people that are like-minded and really getting to talk to them and realizing how well Mike’s training had prepared her was an important moment for her; She realized she had to treat real estate like a business. For example, when she now walks into a room, she’s picking up personalities!
Now that she has her feet really wet, based on her personality style, if she had to pick three things that she will be doing for the next year, what will it be? Because of her bubbly personality, she loves open houses. She also loves door knocking and will be picking up farming.
Does she wish she had done more/less training or was it just right to see the world of real estate, fast in 8 months?
She looks back and doesn’t regret the training. She has to remind herself to go back and re-absorb some of what she learned in the past.
How does she feel about the online leads? She has closed around 4-5 deals through online leads. So her call reluctance is down and she has come to realize that, as long as she keeps the mindset that she is here to help, so business will come!
If Mike gave her a time machine and brought her back 10 months: What does she think she would have done differently? She would have been to the office with more consistency.
Going from a full time job and a steady paycheck to fully commision based is terrifying! What made her jump the lead? She had an awesome broker that told her she could do it and the support of her husband!
Family. She’s been with her husband for 8 years. Her lifestyle and ever her own self has changed so much ever since she entered the business. Especially in the first months, it doesn’t take much for a relationship to get on the fence. The words: “maybe you should get a real job” can come up very fast. So you have to be strong when you get into real estate and keep a health balance between your personal and business life. And know your relationship and your partner. Real estate agents have the biggest divorce rate from each industry!
Some relationship advice? Remember to be fully ‘there’ and give your attention to your partner, when you decide to spend time together; Put your phone away and focus on what they say! You also have to learn to keep the stress of the day at the office. Use your team to keep you in your lane and when you are home, be home!
Mike recommends to only share success with spouses. Cry in the shower only. And then your spouse will be more supportive.
How’s her scheduling improved over time? In the corporate world, schedules are planned out to the minute while, in real estate, there is no schedule! Mike’s perfect daily schedule has helped Amanda discipline herself, though she is not going to micromanage herself neither.
Another skillset she has developed is the one of cultivating relationships and network; Wherever she goes, she takes the time to positively connect with the people around her and culture a connection with them. Talking to people 25/ day is simple, even if you’re typing back and forth through social media, this is still a contact you’re talking to!
Being on a team. Amanda was first reluctant to join a team, and was even first thinking of joining someone else’s team. Eventually, Mike convinced her to join his. Amanda’s advice is, if you think of joining a team, have upfront, in writing, how much your splits are going to be, so that you don’t get blindsided later on, once you get your check. However, understanding how much work and people are involved to make each transaction happen, the access that a team gives, and how much more business comes through, made Amanda realize what an amazing asset a team can be to further her career.
If you think you can spend thousands and thousands of dollars, a month, on overhead, that’s fine, but here’s what you have to ask yourself: I can go buy Mike’s market plan and what he wants to spend money on or I can do what I want to spend money on. And this is where the decision making is coming on.
So Amanda is now part of a team; What are some of the real feelings she’s gone through? She has learned to pay attention to the general energy and attitude of people when she says she is part of Mike Bjorkman’s team. How do the people of the community feel about it? What’s their body language and personality? If the personalities don’t match, it’s not going to work out. Accountability is also another huge element to look for and develop with your team members.
Would she rather join someone’s team because they will produce tons of leads, or would she rather be with someone who can teach her? It’s hard for her to say because she gets both from Mike’s team! Training is however huge as well as networking. If people don’t know your name, they’re not going to take your offer.
Final thoughts? The first year is going to be overwhelming and you’ll have to learn the business as quickly as possible or have a support team to help you. Having support is really big. Amanda is also a strong believer of Mike’s ‘law of attraction’; This whole year she had this mentality of trying to break even, which was a very low goal. She has now re-evaluated her goals and has even written them all over the place to visualize them! Her goal now is 40 transactions. It’s making sure that you are a well rounded individual.
Amanda can be reached at: firstname.lastname@example.org (805) 794-8328
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
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
Many agents today are flat-lining and are only getting houses through open houses; Yet, Mike has so many other ways to succeed!
So where the heck do we find buyers?!
1) Sign Calls Are The Best
- Always look for seller leads first
- Always be asking who wants to sell
- Team lead will love you
- Make sure they come to you if your listing
- The key to sign calls is CONVERSION
- In order to win you must PRACTICE
- Must be super CONFIDENT
- Another secret, though everyone rolls their eyes at me, PREVIEW!
- With technology today the buyer knows THE INVENTORY better than us!
This can’t be. So if you know your marketplace all day everyday and you’re looking at homes, you know the inventory better than them, which is unusual in today’s market, it’s a perfect opportunity for success! That way, you show them that you have more knowledge over the competition and then can slow them down (mirror and match them) to take the time to look for the best and right match for them!
- Sign calls have to be returned within seconds or minutes before they call another agent, BAD.
2) Open Houses Are For Reals! You want to do open houses the right way, so listen to our podcast!
- They never run out and you don’t need listings
- Do weekdays too
- 10 am – 6 pm are the best hours
- You can still get a full day of work in
- Make sure you are the area EXPERT
- They start 7 FULL DAYS BEFORE
- Make sure they are BLASTED everywhere in print and online
- Use 40 more BRANDED SIGNS
- Don’t worry about buyers with agents THEY REALLY DON’T HAVE ONE offer REO and default
- Must see full blog post and TRELLO CARD from Club Wealth and listen to my podcast at REALESTATEMARKETINGSHOW.COM
3) I Promise Your Mailers Work
- Good old fashioned mail to tenants is still alive if done right
- Call to action key
- Free Credit clean up!
- Zero down programs (believe it or not, you can buy a house without a penny in your pocket!)
- “Congratulations, you just bought your landlord this yacht!”
- Like anything else be CONSISTENT
- Have your lender CO-MARKET
- Offer examples of GOOD DEALS
- Show ‘Rent vs Own’ COMPARISON
- All the stuff should say FREE WITH NO OBLIGATION for tenants
- Mix up the format, sometimes LETTERS work as good as POSTCARDS when you are talking about taxes and qualifying.
4) Social Media Is King!
- This is the cheapest and easiest way
- Know, Like, Trust
Share your love for life, Share your love for others, Share your listings and good deals
- Never be NEGATIVE
- Look for great FIXER UPERS; and I learned that the hard way!
- Try hard to mix in LUXURY also
- Talk about how EASY THE PROCESS IS
- Share videos and pics of SUCCESS
- This goes for all platforms of social media. Be strategic and remember no POLITICS and especially no RELIGION as they follow life.
5) Hold Seminars Often
- You are a professional with information buyers want
- Every quarter
Public places or hotels best. I like to do them at the library. Get vendors to pay
- Lenders and CPA’s are the MAIN SPEAKERS
- Do awesome giveaways and promote as a team
- Have lists of REO AND NOD
- Always have FOOD AND DRINKS
- Know the MILLS and NEW CONSTRUCTION look for creative or seller financing
- Allow VENDORS to speak for no more than five minutes and make sure that they’re available to speak AFTER the seminar. If not LENDOR OR CPA have them give you all their swag
6) Webinars Are Here to Stay
- Some folks won’t come in person
- It’s anonymous
- Can do from home or office
- Can be launched and watched, and pre-recorded
- Same format as SEMINAR
- Very good way to get their EMAILS AND NUMBERS
- Have free DOWNLOADS pre-loaded (leading to a ‘Call to Action’)
- Be ready when they have questions and have VENDORS ONLINE TOO
- After the event upload it to Facebook and boost off your BUSINESS PAGE
- Upload it to YOUTUBE and do a Google ad word CAMPAIGN to get more reach. Put it on your website too.
7) Move Up Buyers Are Awesome – because they have to sell first!
- Farm smaller homes and condos for sellers
- Many are selling and then buying
- Easy and fast to sell
- Team Leader will love you again
- Advertise about move ups and CONTINGENT SELLERS
- Work with Cole Realty when calling to find NAMES AND
- Teach them about RENTAL PORTFOLIOS
8) Sphere Of Influence Is Easy; this can just be people in your life!
- These people are around daily so get referrals
- Don’t be cheesy asking like a used car guy
- Share success with them
- Tell them about deals you find
- Ask business owners if you can have a REFERRAL PROGRAM
- Get them to help with marketing. Make it a WIN WIN
- Prove you are trying, TELL THEM when you send them a client
- Use everything like KIDS SPORTS, CHURCH, CLUBS; They’re part of something!
- The more you pay attention, the more it becomes a SECOND NATURE. It will surprise you.
9) Property Management Companies
- Build relationships with the managers and get buyers!
- They have tenants that are buying
- They know when leases are up
- They talk to tenants more than you think
- They have a license so they can legally get REFERRALS
- Offer to do their OPEN HOUSES
- Tell them you will pay them on CONVERSIONS
- Don’t forget they have SELLERS TOO!
- Add them to a good route. They LOVE FOOD, just like Realtors!
10) Community Out Reach – shaking hands is the most powerful tool!
- Get out from behind the desk- Go big or go home!
- City functions, Charity, Events, Boards etc.
- People who can afford to BUY AND SELL
- They respect you, not FEAR YOU
- True RELATIONSHIPS are built
- Much more fun and you will find SELLERS TOO
- Make sure to engage all of them on SOCIAL MEDIA and add them to client appreciation program; these two go hand in hand!
- Add a certain amount of time to your PERFECT DAILY SCHEDULE at least twice a week – be strategic!