Category: Sphere of Influence

Episode 037: Everything You Need To Know About Online Lead Conversion

Jesse Zagorsky co-owns Z Team Real Estate, a licensed California Real Estate Broker. He has been active in San Diego Real Estate for 10+ years, and has sold over 500 homes.

With a background in Marketing, Jesse loves creating a total marketing experience for each of ZTeam’s listings.

Jesse’s passion for Real Estate includes helping his clients find the perfect home, helping investors analyze possible returns, and Sellers maximize their sales price through tested techniques.

Back in 2010-2011, Mike and Jesse decided to conquer the REO world together; and they succeeded!

Today, Mike wants to give you 5 actionable items.

The biggest trend in retail real estate is purchasing online leads. And everybody is doing it. Jesse and Mike have made a commitment to come up with different systems, processes and procedures to get their team really dialed in. And they’ve succeeded! Jesse, with his great analytical mind, has become a master!

A lead is coming in, what do you do? Leads are the same, but different: All leads and potential clients are the same. All that changes is your intro and your call to action at the end. If you get a brand new lead, your call is to set an appointment.  It’s obvious but not everyone realizes it!

So, actionable item 1: Book a face to face appointment  (or at least, a video appointment).

How fast do we answer the call/call them back? These days you have to be way faster than the ‘within 5 minutes’ Harvard was claiming some time ago!

The difference between every lead type is that every lead has a little different call to action that is inspiring the potential buyer to click it and request info. Realtor.com leads are a lot further down the ‘buyer life cycle’ so if someone clicks the button, they are pretty much ready to see a house, or almost write an offer! Commissions Inc’s leads, which is mainly a paper click, are a little earlier on on the ‘buyer life cycle’. Realtor.com right now gives me a higher ROI than Commissions Inc leads. However, down the road, the longer you have a synced database and if you work it the right way, you will end up having a higher ROI.

Actionable item 2: Call within 30 second or answer your phone.

Try to decide what types of leads you want to buy or want to be involved in. Remember: The leads don’t suck; You suck! Every lead is a good lead.

Actionable item 3: Every single objection you will ever get falls into one of these two categories. There are only 2 reasons someone will not do business with you:

  • They feel threatened
  • They don’t see the value.

Actionable item 4: I am a creative, solution oriented, problem solving machine (affirmation for sales). Jesse used to write this out as much as 100 times/ day!

Actionable item 5: Successful people take notes and then put them into play.

Your goal is to truly listen to your client and come up with solutions to their problem. If you push your agenda instead, they will feel threatened, even if you do it in a very subtle way.

And if I can’t illustrate enough value on your end to charge whatever commission you want to charge, you might be better off selling with someone for 1$.

Actionable item 6: Internalize scripts. Remember that once you learn the script, you must get out of the script as soon as you can; It’s like jazz!

*Text the word ‘Buyer’ to the 858-780-5550 to get the script!* (actionable item!)

A lot of agents make the mistake to talk for hours about their potential clients’ kids and waste so much time that way!

*Text the word ‘Buyer’ to the 858-780-5550 to get the script!*

Many teammagents now find it easier to text and email instead of calling; How does Jesse feel about that? Well, do I want easy? Or do I want money?/ Want to help people?

Pick up the phone! Call them first (double dial) when a lead first comes in as you don’t know their preference yet. Then send a text; Whatever your intro of the script is, that  is the same text you sent. And then send a video text! (actionable item)

Last words Jesse would like our audience to remember? Accountability.

None of what we talked about so far matters; if you are a team leader, figure out a way to hold your team accountable. If you are a team agent, find a way to be accountable. If you want to make money and help people, you need to be held accountable. (actionable item!)

Livelovesantiegoaccountability: link to access the accountability form Jesse discusses!

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!