In the spirit of Halloween, let's break down some scary mistakes Real Estate Agents and Brokers can make in THIS market.
If you're a Listing Agent this one's for you. Yes we said in #1 that buyer's agents should be making sure their buyers have updated pre-approvals. As a Listing Agent there has never been an even more important time to DOUBLE CHECK the qualifications of a buyer when presenting offers to your seller. Don't take the buyer's agents word for it (no offense to them). You don't know what THEY don't know and that could lead to a dead deal, and a bad experience for your seller client.
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]]>Digital Marketing is the name of the game these days, but it can seem overwhelming to come up with ideas for your Real Estate Business. When you do find or think up ideas of your own, it can then feel overwhelming to choose which ones to focus on. In this video Amanda Fazelani breaks down 7 Digital Marketing Strategies/Ideas Real Estate Agents and Brokers can use to grow their business and close more deals. These strategies are tried and true, and personally tested by our Team of over 35 Agents and Brokers. Have questions? Chime in on the comments below and weâll answer!
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]]>When you hear the term real estate investor what comes to mind? Usually, some inexperienced real estate agents consider investors "slick talking bottom feeders. They are only interested in a good deal and willing to pimp real estate agents out in order to put more money in their pockets."
Ironically, when I first got into the business I thought the same. However, the more I came across investors and started working alongside them I quickly realized that working with real estate investors is one of the most lucrative avenues we can take as real estate professionals. Also, they usually donât talk as slick as we think. We are often on the same side most of the time.
Not everyone is looking to put their home on the market. In fact, not every homeowner is in the same situation. By adding instant offers to your sales pitch you will likely convert more listing and make quicker sales. You also might even find yourself getting into the investing space yourself with wholesaling, flipping, holding, and developing.
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If you want to collaborate and close deals with Real Estate Investors there are a few key things you'll need to understand. No matter what's happening in the real estate market...investors are always buying. Being able to work with them can keep you and your pipeline full â always!
This goes without saying for ANY of your prospects/clients, but this is especially true for investors. Just like you, they too are running a business and if they're working with you there's a level of honest, transparency, and communication they will expect. Don't be a sugar-coater. You may not even know how experienced the investor is and sugar coating the situation of a deal could harm not only their pockets and livelihood, but YOUR reputation! I share a perfect example of this in this video.
There are unique acrynoms and some lingo investors typically used. For example, ARV (After Repair Value), NOI (Net Operating Income), Cash-on-Cash Return, 1031 Exchange, and more. Study up on these and others so when they do arrise in a conversation you know what you're talking about.
If an investor is "Buying and Holding" you've got to know what the rent roll is. If they are Flipping the property you need to be able to break down the top and bottom of the market. Bonus points if you can shed light on what finishes consumers are loving.
I know, you may be thinking â well, if I can find really good deals why wouldn't I just buy them for myself? ...Think BIGGER. There may come a time in your career where YOU are the investor, but it's still very possible to hone those skills, earn money, AND build relationships on the way there. If you get good at finding deals you'll always have a pipeline, and you'll always have investors happy to collaborate with you.
Investors don't typically work with JUST ONE Realtor. Same applies to you. Many investors will have a certain criteria they are looking for in their portfolio. Which means the deals you find may not work for just one investor. Diversify your database and cast a wider net in order to make sure the deals you potentially find will have a MATCH in your CRM.
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Running successful Facebook Ads in 2022 looks a lot different than it did in 2019 or 2020. So much has changed, including updates caused by the iOS 14 update with Apple. There are some key mistakes Real Estate Agents should avoid making when running Facebook Ads. Mistake #3 is a big one that many real estate agents havenât updated in their mindset in a long time.
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]]>One of my biggest flaws early on in my real estate career was my fear of rejection! For most of us in Real Estate, it's completely normal, but on the other hand the top 10-20% of real estate agents are making six figures to 7 figures per year. They all have one thing in common â they do some type of cold prospecting, whether it be door knocking or cold calling.Â
If you want to be a Top Producer, donât want to break the bank, and want to grow a pipeline that will constantly be fed..then prospecting daily is the name of the game. Now, how do you get over the fear of rejection? Letâs break down three techniques that you can utilize in order to overcome it!
A lot of real estate coaches will tell you to dive in, spend a minimum of 2-4 hours per day cold calling geo leads, expireds, and FSBOs. The truth is, this can be overwhelming if youâre new to it. Another way is to start off with just 10-25 calls. Scale up day-by-day. As you scale, you will become more comfortable with hearing NO than if you jumped straight into 300-400 calls per day from day one.
Listening to someone that does it on a consistent basis, that's actually more skilled than you, can really open your mind. Youâll hear them deal with rejection, see them recover quickly, and move on to the next. This will help instill the idea in your brain that itâs 100% possible to do this and you have nothing to lose and so much to gain.
Watch the video for the 3rd tip!
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]]>What worked on Instagram in 2019 and 2020 definitely does not work now â or at least not in the same way it used to. Instagram has hauled out so many changes to its algorithm in 2022 that it seems almost impossible to keep up. From becoming excessively video centric, to basically trying to become TikTok...you may be wondering HOW can you use it for your business?
Short, entertaining, educational, original content. That's the key. Specifically diving into Instagram Reels is the name of the game. The video above breaks down the most recent Instagram Algorithm changes in 2022 and how you can use them to your advantage to thrust your Real Estate Business forward, and get more clients!
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]]>In this video, Amanda Fazelani breaks down the tried and true methods for getting seller leads as a new real estate agent. These methods have built the foundation for many top-producing real estate agents and could work for you as well. The truth is most real estate agents donât understand that there is an abundance of leads to build relationships with. With these proven techniques you will be on your way to a bright future in this industry.
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]]>You CAN get referrals from other real estate agents on Instagram without spending a single dollar on advertising. A lot of real estate agents admit that much of their business comes from referrals, but not many actually ask for referrals from fellow agents. These agents can be in your same marketplace, OR they can be in a different town, city, state, or even country!! In this video weâre breaking down how to get it done in 3 steps.
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]]>Do you want to get more clients through social media without spending money on Advertising? Instagram stories are a powerful tool that can help you generate more business and get more real estate clients if you follow these simple tips that weâre breaking down in this video. We'll also break down a rinse and repeat strategy you can start implementing today!
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]]>It's official! Instagram Reels is an unavoidable and necessary part of any winning social media content marketing strategy on Instagram. It's clear that Real Estate Agents understand this, but there are a few mistakes being made consistently that are simple to avoid.
In this video, Amanda Fazelani breaks down the top 3 mistakes Agents are making when it comes to Instagram Reels. Number one may comes as a shock, but there is a valid reason behind it!
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]]>Here are 4 Ways Your Real Estate Website isnât being Utilized Correctly:
Landing Pages or Squeeze Pages should be your website's bread and butter. Most of your paid-for advertising and organic traffic is going to land on these pages because they are geared for 1 goal: to âsqueezeâ the information out of the prospects. When it comes to service-based products such as real estate services you're going to need the prospect's email and phone number so you can follow up with them and set that appointment. Your landing pages and squeeze pages should be optimized for that.Â
One of the biggest mistakes agents make with their websites is they send paid-for traffic and organic traffic to their home page. This can kill your conversion ratio because your home page is filled with distractions like your bio, contact, blogs, and other pieces of content that will take them away from the main goal, which is to get them on a call. Make sure you are sending prospects to a strategic landing or squeeze page to minimize distractions.
Another obvious reason why your website is not converting is due to a lack of traffic. The internet is filled with noise and content being pushed out on a second-to-second basis. If you do not have a large audience to broadcast your content or landing pages to your website is not going to obtain a lot of leads. This is where paid for traffic comes into play. You can obtain this traffic through Facebook Adâs, Google Adâs and Youtube Pre-Role Adâs. It really might make all the difference. Â
The majority of agents post a property in a story or post a just sold on a feed with no concise or direct messaging. You need some type of call to action if you want prospects to stop scrolling and visit your landing page.Â
 âWant to see more beautiful homes like this one in Forest Hills, Queens? Click the link below to see more homes like this one.Â
âThis home in Forest Hills, Queens just sold for $50k above the asking price! Click the link below to see what your house could go for on the active market.Â
By using clear messaging you will improve your conversion rate and also find more ideal clients in your niche areas.Â
If you avoid these top 4 mistakes your real estate website will convert more business and become a better and more useful asset in growing your real estate business. Â
Are you generating new business from your real estate website? Share in the comments below.
]]>SMS marketing is fast growing and being utilized by many Top Producing agents to help their clients and their sphere of influence stay up to date with whatâs going on in their local real estate markets. If utilized right you can obtain more opportunities without doing the heavy lifting of other marketing avenues. How can you use these marketing strategies to help build your book of business.Â
The first thing you need to remember is that SMS is not email. You can't just spam people because that will quickly get you on the âscam likelyâ list. I would recommend that you have your clients, past clients, sphere of influence, and prospects opt-in with you personally. This way they will expect your message and appreciate the value you will bring. Let's face it, nobody likes a spammer.Â
Pro tip: Make sure when someone opts-in you have some type of hashtag or tag set up within your CRM that will help you identify them.Â
As a real estate professional you should be studying your local market. One amazing way to build relationships is to reach out to your SMS list with new listings hitting the market in their local areas. The listings do not have to be yours, but they should be through your IDX solution (so youâre compliant - check your stateâs rules). Your SMS list may not want to purchase it themselves but they might know someone looking to move into the area. Referrals are always welcome in my database.Â
Donât just share listings! That gets boring and eventually any text from you will be associated with just business. That's why it is always a good idea to share some educational content with them. You can educate them on mortgage rates, trends, real estate law, and current events that could affect their investments.Â
This one is a must! Sharing listings and education can be fun to a certain extent. However, what is more fun than showcasing local restaurants, events and parties that they might be interested in. This will not only help develop conversation but potentially lead to a meet.Â
Giving your book of business access to your network is invaluable. It not only will solidify you as the local plug but it will promote your networks businesses which in turn will help your business relationships and potentially be another source of income (hello referrals).Â
If you leverage these 5 SMS strategies in your business It will flourish. Your referral business and sphere of influence will thank you and you will become the go to local expert in no time.Â
Are you using mass text messaging in your real estate business? Let us know whatâs working in the comments below.
]]>The house warming party strategy that I'm about to share has been an effective way for me to help build a community around my clients. By doing this gesture you're not only going to be remembered, but you are going to be raved about. So here is my house warming party playbook.Â
The first thing I do after a deal closes and the client agrees to the house warming party is I find catering and clean-up services. My goal is to make this party less stressful for my client. I want them to focus on what matters and let me handle the rest. I usually have a pre-made list of restaurants and cuisines that my clients can choose from on a fillable sheet.Â
The fill-in sheet also lets them know how much the capacity of the party will be. In other words how much food will be provided. I also provide ideal dates for the party so we can have time to get everything prepped. I also let my clients know what I will not be providing so expectations are kept realistic and communication is clear. I usually do not provide entertainment, physical invitations, or DJs.Â
The second step is to create a Facebook event where I make my client an admin. This allows them to invite people directly. This is where the magic happens! After everyone is invited I personally reach out to everyone via DM to introduce myself and ask if there are any dietary restrictions to be aware of. Let them know that your goal is to make this party as stress-free for your clients as possible so if there is anything they need to reach out to you.Â
The third step is to deliver and coordinate the day of the party. Pick up the catering, confirm with the cleaning crew and get ready to help greet people as they arrive. Remember this party is not about you, it's about your client. Only answer real estate questions when asked. Try not to do much selling!Â
The fourth step is to have fun and mingle with your client's friends and family. Make sure to check in with your clients every so often to see if they need any help. Make sure not to get too drunk (if you do choose to indulge in alcohol during the event), and allow your clients to shower you with opportunities and new relationships.Â
This strategy has worked wonders for me and I know it will work wonders for you. It might sound like a lot of work but it is well worth it. Have you ever thrown a housewarming party for your clients? Share you tips in the comments below.
]]>It took me 90-hours of work but it was finally done! My real estate website was looking amazing! I DIYâed it, and saved $4000 dollars, I thought to myself as I sipped my cappuccino in my local cafĂ©. I couldnât wait to launch it and let all my clients and peers know that I not only have the skills to pay the bills in real estate but I could easily moonlight as a web designer. Boy was I wrong!Â
After what I considered a âsuccessfulâ launch, I was ready for the leads to start flowing in. In the next 3 months I succeeded in getting one lead from my cousin. Who used a fake email to sign up for my email list. After consulting with some web designers and spending a bunch of money trying to fix the issue I was able to turn it around. Now my website converts at a higher level than it has ever done before, and I no longer have to pay a premium for leads from sources like Realtor.com and Zillow. So, here are the 5 tips I've learned that helped me take my website from zero leads to a lead capturing machine.Â
This one might seem like a shock to you and it was a hard pill to swallow myself. I spent a week of my life building a website from scratch and apparently I did everything wrong. I overcomplicated it and I was ignorant of what makes a website stand out and convert. I thought it was the colors and copy that would pluck people off the internet and into my sphere. Although color and copy do assist in branding, it's less important than setting up a page that is geared to obtaining your prospect's information.Â
There are many services out there that have optimized the proper conversion set up so you donât have to. These pre-made websites allow you to do everything that Zillow does without breaking your bank, and messing it up yourself. Sometimes a simple approach works better. One example is Kvcore. It is an amazing all-in-one service that can help you create a great-looking website that is simple and converts. There are many of these pre-made website options available, it just requires a bit of research.Â
Many agents are guilty of this mistake. I was even guilty of it as well when I first started creating my website. When you think of the home page you think of the face of your website. It is the digital brochure of your business but what happens to most brochures? That's right, they get discarded, and thrown in the trash.Â
A website is no different. Donât spend a ton of time making your homepage perfect, because most traffic is not going to land or spend a lot of time there. Most traffic is generated through blogs, vlogs, paid traffic, and landing/squeeze pages. Which we will go over in the next tip.Â
As mentioned above you should never send traffic or potential prospects to your websiteâs homepage. As attention spans grow shorter in our society our approach as Realtors has to be more direct. Prospects are jumping onto your website looking for something distinct, whether it be properties in a specific area and price range or information on closing costs.Â
This is why landing pages and squeeze pages are so valuable. Usually, when someone ends up on this page there is literally only one thing to do: Browse for properties or give their information in order to obtain something. The prospect will not be distracted by your bio, contact information, and other irrelevant information (Now Iâm not saying your bio or contact info are irrelevant, but they distract from being able to collect the leadâs contact information). They are getting what they want faster and it is overall a better experience for them.Â
If you still decide to DIY your website make sure you have a live feed of MLS properties on your different pages. If your website only consists of forms and info pages you are really doing yourself a disservice. There are many IDX solutions to choose from. If you would like something basic I would recommend IDX Broker. It works with many different template websites and is simple to use.Â
Most people think once they create their website prospects are just going to find them through the power of the internet. That may have worked at the beginning of the internet and when AOL dial-up was the only way to log on. However, now there is more competition and floods of people creating websites about real estate, daily. Paid advertising is one extremely good way of helping your brand stand out among the competition. Facebook, Google, and Youtube Pre-Roll Ads are the top three paid traffic sources of driving traffic to your slice of the pie. Â
The more people see your landing pages and content the more conversions you will have. Which will inevitably lead to more business.Â
Are you thinking of building your own website using a platform like Squarespace, or opting to use a service like KvCore? Let me know in the comments below.
]]>It is said that 90% of what you say has nothing to do with your words and everything to do with your tone and your body language. As real estate agents, we have to better understand how we come off to people and master the art of âwhat do I do with my hands.â So letâs break down a couple of body language tips you can start being aware of during your door-knocking sessions so you can turn more opportunities into closings.Â
Our hands usually make things awkward a lot of the time and the reason is simple. Your hand gestures are the most fluid things we possess. When we're explaining something we usually use our hands to emphasize and highlight our points and desires. We're going to want to keep our hand gestures to a slightly moderate and relaxed movement. We donât want to overdo it on our first substantial meeting â and we donât want to look like a robot soldier either. Loosen up a little.
Another thing that you want to avoid is putting your hands behind your back or in your pockets. Some people might see this as threatening and that is not the look we are going for when trying to win listings. Trust me. Â
Some other key things to look out for and avoid are crossing your arms, pointing, and keeping your hands in a fist. Those are all seen as combative and stand-offish. Keep your palms out and visible while speaking and if you most point use your whole hand to do so.Â
As we mentioned before, we are not robot soldiers so avoid a rigid stance. Try to keep a bounce in your knees and avoid slouching as that is not appealing. Stand square with purpose close enough to the door that it can swing open and far enough back that they can hear you clearly. I knew an agent that used to step way too far away from where he would almost have to scream âAre you looking to buy or sell in the near future?â Donât be like him!Â
This is the most intimidating thing about in-person sales. Looking your prospect in the eye can be one of the most difficult things a salesperson can do. Donât worry with the following tips you will be a pro in no time.Â
They say the eyes are the window to the soul and itâs true. So try to make as much eye contact when speaking to the prospect. I try to stare into one of their eyes and/or the upper cheek. I make it a focal point. It is okay to occasionally look away as long as you bring back your gaze.Â
One big thing to avoid when door-knocking is wandering eyes. Make sure you maintain eye contact with the prospect and do not look into the house, backyard, or at the car in the driveway while you speak. It is awkward and a sure-fire way to mess up that interaction.Â
If you follow these body language tips I guarantee that you will be able to build more relationships which will lead you to more deals closed. So, go out there knock on some doors and for the love of everything good keep your hands out of your pockets.
]]>Let's settle the debate: Which one is better? Facebook Ads or Cold Calling when it comes to generating leads for your real estate business. Personally, I'm a big fan of Facebook Ads, but I've also seen success with cold calling.* In order to answer this question we actually need to explore 3 other questions that will help us answer it.
*Cold Calling, for the purposes of this article/blog/video, means prospecting for Expireds, FSBO's or Geo/Circle Prospecting.
I can tell you with honesty and experience that Facebook Ads are going to cost you more per lead. You may come across some agents who shout from the social media roof tops that they're spending pennies on the dollar "98 cents per lead!!" with their Facebook Ads. Today, especially with all of the iOs changes from Apple...this is less likely. You're probably going to wind up spending closer to $2 - $8 per lead. In some markets and with some ads, you could even spend $15+ per lead. That's STILL GREAT!
It's especially great if you compare it what you'll be paying per lead if you subscribe to a service like Zillow Premier Agent, Realtor.com, or Bold Leads.
Cold Calling on the other hand, means you can subscribe to purchase a list of homeowners every morning and for the number of contacts you make versus what you're spending per contact....now THAT is leads for pennies on the dollar.
Facebook Ads are definitely more of passive lead generation strategy. Yes, you do need to make time to call and follow up with the leads you receive, but you're not sitting there attached to a dialer all morning.
When it comes to Cold Calling you'll want to make sure you're focused on this activity for at least 3 hours a day for a minimum of 4 days a week in order to see results.
Now this question is definitely up for debate...but my vote is that BOTH of them do. Here's the thing, if you don't have the ability to convert then you're going to have a hard time finding success with either option.
Cold Calling is going to lead to more practice converting leads into appointments. If you have a large or unlimited Facebook Ads budget then you'll get a fair amount of practice there too.Â
Truth be told, you're going to build your database a lot faster with cold calling than you would with Facebook Ads.
Even though I love Facebook Ads, and I believe they work (they've worked for me and Alex), I have to say that Cold Calling wins this battle. It's important to understand that if you're looking to be successful in your real estate business the idea is to build your database. I'd actually recommend doing BOTH!
Look at Facebook Ads as a supplement to your daily prospecting activities. Cold Calling is the equivalent of eating your dark leafy greens for a balanced diet, and running Facebook Ads would be like taking a daily vitamin!
Interest in learning how to run your own Facebook Ads? Sign Up for FREE here.
]]>Door Knocking has been around since the beginning of time - well the beginning of doors & sales... Many do it, but not many sales professionals do it very well. In my career, I have closed hundreds of thousands of dollars that are directly tied to my door-knocking efforts. However, there is one method that outshines the rest and that is the Open House Door-knocking Strategy. With this strategy, you can build relationships, find buyers, and find sellers, all while marketing and branding yourself the community that you are targeting. The strategy is a 4-step process that anyone can start weaving into their business immediately and start seeing results.Â
The first step in this strategy is to map out and research the area that you will be door knocking. I usually pick out 300-500 homes around the open house. I also use tools like Remine to find out which homes have high equity and/or are in pre-foreclosure. This will help me pinpoint and markdown any homes that have a high probability of wanting to sell in the near future.Â
Now that your homework is done, it is time to get your marketing assets in order. I usually have two assets with me for this strategy a fire flyer and a thank your letter or card. If you are not familiar with a fire flyer it is basically a handwritten letter that breaks down some type of announcement with a call to action. You'll photocopy it to be able to send it out to multiple households.
Example:
Hey there,Â
I actually have a property that I'm having an open house at this weekend [Insert Date and Time], If you know someone that's looking to move into the area I'll be happy to schedule a private showing for them
P.S. if you're looking to take advantage of the market, please shoot me a text or call at [Insert Number] =)
Your Local Realtor,Â
[Insert Name]Â
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Those letters will be used for prospects that you have not been able to meet in person during your door-knocking campaign. The Thank You Card or Letter is a pre-formatted handwritten letter that is pre-stamped (USPS stamps). If you have a good conversation with someone and/or they express interest in selling or buying in the future you will send the thank you letter/card immediately after your door-knocking session. This will help you stay top of mind and leave a lasting impression.Â
Now that you have everything prepped, it is time to go out there and promote your open house and speak to the neighbors. I have a script that I use and you are more than welcome to tweak it and use it however you want.Â
--- Script is shared in the video above.
Once your daily door-knocking campaigns are done make sure that you keep all the people you meet in your CRM. Remember, fortune is in the follow-up and lasting relationships are built with communication. Make sure you keep detailed notes on your potential clients and keep tabs on them. If you stay in contact diligently, when they are ready they will reach out to you.Â
So there you have it, that is my exact Open House Door Knocking Strategy. If you follow the steps above I can guarantee success as long as you stay consistent at it.
Now go out there and build the relationships and community around your expertise. If you have any questions connect with me here. Wishing you many accepted offers, closings, and happy clients!Â
]]>Fire Flyers are one of the most simple and effective ways to brand and market your real estate business. It only requires 4 things: Paper, Pen, Business Card, and a Printer for multiple copies. No designing, or complicated campaigns. Just simple mailers that convey what you can do, and what you want â which is more business.
Just like many marketing strategies, there are right ways and wrong ways of using them. Iâve used fire flyers for years and have figured out many doâs and donâts to the method. If you get this right, and become consistent with your efforts, I can almost guarantee hundreds of thousands of dollars worth of commissions.Â
Do not overcomplicate the message! You do not want a 2-page detailed essay on why you are trying to get the prospectâs attention. You want to keep it short, concise, and straight to the point.
Hey there [insert prospect's name if possible],Â
My name is Alex. I'm a local RealtorŸ and I sold the house right down the block at [Insert Address]. I have a couple of buyers that are interested in moving into the area. [Short Direct Story] Would you happen to know a neighbor looking to sell? Are you yourself looking to take advantage of the market? If you are, or you know somebody, please give me a call or shoot me a text at [Your Number].
Your Local RealtorÂź,Â
[Sign Your Name]Â
Attach a business card to the base of the flyer. You can also design a footer that has your picture and information on it in case your prospect wants to reach you in alternative ways. Having your information on every piece of marketing and branding that you send out is mandatory. Fire flyers are no different.Â
Please do not type up a message. The whole point of this marketing piece is for it to look handwritten. The goal is to get people to read it. Iâve had many agents on my team attempt to type out the Fire Flyer because of their insecurities in regards to their handwriting. This is a mistake because your conversion ratio is going to drop. You might as well just send out postcards instead. Â
Make sure you follow the Law of Numbers. Although Fire Flyers will help you have a higher conversion rate (since they are hand-written), you still want to try and get in front of as many people as humanly possible.
I also highly recommend utilizing Fire Flyers while Door-knocking. The two methods create a marketing synergy that will allow your personality and individuality to shine through.Â
Do not send out this message multiple times throughout the year. Your goal is to make the prospect feel that you are reaching out to them individually. If they get the feeling that you are copying and pasting the message, you are going to lose the desired effect of the Fire Flyer. Although that repeating method may work with post-carding it will hurt your chances of getting business with the Fire Flyer method because prospects will be less likely to read through your messages if they see them as "spammy."Â
Having a campaign is paramount. You should have a text campaign, email campaign, and postcard campaign. A Fire Flyer campaign is necessary to maximize your results. Having different templates could really add to your marketing tool kit. I recommend having ones for just sold, just listed, a buyer looking to move into the area, an open house, and an under contract letter template at the ready.
If you are looking for a new marketing and branding method, utilizing Fire Flyers might be a good idea to add your personal flair to your marketing plan. In a market flooded with real estate agents sometimes utilizing methods that seem outdated, old school, or âtoo time-consumingâ might make all the difference in your business. Now go write out that one handwritten letter that might change your business forever.Â
]]>Real estate is a contact sport figuratively speaking, and every good contact sport usually requires a team. A career in real estate is not any different. Having a Referral Team that shares opportunities with each other is imperative in growing oneâs business. You donât have to go at it alone. Here are five real estate professionals that you need on your team to grow your business and career.Â
The first professional that you need on your real estate team is not someone that you would probably think about, but it's The Accountant. You need an accountant on your team, not only to go over your finances, but also to stay on top of your particular bills and bookkeeping. An accountant is the first person that prospects usually go to when figuring out their finances. If someone is looking for a property, they might ask their accountant for advice. So it's a good person to have as a point guard for your referral team.Â
The second professional that you want your team is an obvious one, The Mortgage Professional. About 90% of people who are purchasing a home require financing. Most prospects are going to go to a bank and they're going to get assigned a loan professional. So, if you have a good relationship with a lot of loan professionals, you are setting yourself up for many opportunities. The real estate agent and mortgage professional have a very cohesive relationship. You can also partner with a mortgage professional to split marketing costs. You can get up to 49% of your marketing covered by a loan professional (in most states, check the rules in your state).Â
Professional number three is a must-have. You need at least one Contractor on your team. We have to add immense value to our repertoire for our clients and a contractor can definitely help that happen. If you have the vision to create an experience for your clients, a contractor can make it happen whether it be creating the bathroom of their dreams, the kitchen of their dreams, or just turning a bleak space into a vibrant one. A contractor will bring any prospect back to earth. Listen, we live in the "HGTV world". It's an experience that you definitely want to be able to provide for your clients. They may not be able to always refer you clients, but they can give you referral fees for sending them clients, which is awesome.Â
Whether you're in an Attorney state or not, you need attorneys on your team. At a minimum, you will want Estate Attorneys, Divorce Attorneys, Real Estate Attorneys, and 1031 Exchange Specialists. These attorneys are potentially great referral sources for your clients and if you develop a great relationship with them, you will receive some solid deals from them as well. Personally, in my business, I've had great experiences with this. Recently, I actually had three deals close through an estate attorney that I followed up with. It is a good idea to make them the backbone of your real estate team. Attorneys are a must.Â
Sometimes you get clients that really want to buy a house, but they can't, due to their credit not being up to par. Why not send them to a Credit Repair Specialist? Guess what, there's a lot of people who go to a credit repair specialist just because they need to get their score up in order to buy a house. If those individuals are not represented by a RealtorÂź, now you have an in. When it comes to collaborating a credit professional is a great option.Â
So there you have it â those are the five professionals you need on your Real Estate Team in order to generate business and to add immense value to your clients. Now itâs time to go out there and make the connections that will change your business forever.Â
]]>It's no secret that when it comes to Real Estate, more conversations equals more relationships which lead to more closed deals. This means that success in real estate is directly correlated with the amount of individual people you have the power to interact with in any given year. Since that is a fact, it begs the question:
Why don't real estate agents take better advantage of the holiday season?
With tons of opportunities to attend parties, dinners, brunches, and local holiday markets there's never been an easier time to mix-and-mingle! Here are 5 ways to guarantee you grow your CRM as you get closer to the new year:
Alright, we know this one sounds weird, but hear us out. The holiday season is a time of cheer, celebration and gratitude. Yes, sales are involved because people are shopping, but you don't sell stocking stuffers for a living...unless you sell tiny homes #JKÂ
On a serious note, this is no time to mass-pass your business cards. Instead it's a time to collect phone numbers and email addresses; personally. Whip out that phone of yours and ask for THEIR contact information. Do this at every holiday party, dinner, casual get-together, and brunch. For any local holiday markets you attend, collect their business card.
*Disclaimer: If you're attending holiday markets and spark conversation with the local vendors, business cards are okay here. They're busy trying to sell and may not have time to exchange numbers like your uncle's work friend might.
Now "stranger danger" aside, you already know when your family and friends are getting together. It's time to get yourself invited to, or register, for events where you don't already know everyone who is there.Â
If this is your first time, or you're no entirely comfortable working a networking room, bring a friend/team member. Refer to tip #1, rinse and repeat for as many events as your heart and schedule can handle.
If you spent 2020 & 2021 building a social media audience across Instagram, Facebook, Linkedin, TikTok, or YouTube; it's time to extract your audience. Their emails and phone numbers need to be in your database. If Instagram shut down tomorrow how would you reach them all?
Ideas for getting this done include: Adding Call To Actions to your post directing your audience to an email sign up; going 1-by-1 (if you have a smaller audience) and asking them to connect; hosting a holiday giveaway and require email/phone number sign ups; download the data directly from the platform if possible (i.e. Facebook and Linkedin).
Short on time to attend events? Throw your own and extend the invitation beyond your sphere of influence. We covered how to do this include of Marketing Mondays in November â if you haven't signed up click here.
This is a great way to gather a lot your own raving clients/fans in one room and mix them with potential future clients.
Are you sending out holiday cards? Are you making holiday phone calls? Don't be shy about mentioning your ability to handle and care for referrals! There is a lot of money left on the table by agents and brokers who simply don't ask for the business. Everyone knows someone looking to buy, sell, or rent. It's up to you to make sure your sphere of influence knows that you are taking on more clients.
Do you have more ideas for database building during the holiday season? Comment below and share this post with a fellow agent!
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Visualization is a powerful and remarkable tool. Sometimes by asking simple questions like this the prospective customer can start seeing themselves in the space. It gives them a better experience and puts them in the mindset of what they want, need and can create. Most houses are not perfect but if they are able to overlook the little things and focus on the bigger picture they will be a lot happier with their decisions. Â
Knowing your numbers before you go to a showing is a must. It not only helps you justify offers but it helps clients to understand value and make choices logically rather then based on gut intuition. "I feel like this house is overpriced," is a very different statement than "I know this house is overpriced, and here are the comps to prove it."Â This helps you take control of the sale and allows you to negotiate more effectively.Â
This is one of my favorite closes. I prep my clients during the buyers presentation for this close. I tell them that I will be asking them after every showing to rate the property from a scale of 1-10. It's a tactic I use to better understand what they are looking for. I also let them know that anything rated 7.5 and above will be a property we place an offer on (disclaimer: placing an offer is always the buyer's choice, but I use this close as a way to help them decide).
I also back this up with a story about how I had a client once who saw a property that he ranked a 7.5 out of 10. After going out to numerous other showings he couldnât find a property better than that one. By the time we submitted our offer we lost the property to someone else and he was devastated. Although we eventually found him a home he liked, he always compared things to that original 7.5 property.
There are many closes out there, but these 3 will lay down a solid foundation for you to start crystallizing your clients and customers' thinking. Leading you to closing more deals! Now go out there and help people find the homes they want.Â
]]>If you are taking any home buyer out without pre-approving and qualifying them, you are setting yourself up for failure. Contrary to popular belief, the Buyer's Presentation is a time saver and an amazing way to build rapport with potential buyers. Here are 5 reasons why the buyer's presentation is so important:Â
When you meet a buyer via zoom and or in-person it gives you an opportunity to connect and find common ground; hence, building a deeper connection than just showing them properties where their main focus is on the house itself.Â
You get to understand why they are looking to move. You get to understand where their potential struggles will be. You can also show off a little of your expertise and prove why working with you will benefit them.Â
When I was new in the business I would run around showing unqualified buyers all day. Just to be ghosted like a bad Tinder date. Scheduling a half hour to an hour meeting with the prospect prior to showings helps you gauge how serious this buyer is. You also get to see how realistic their wants and needs are, as well as understand their timeline.
I once showed a client 5 houses to find out that they had the credit score of high school kid. Yes, they had no credit. It also hurt to find out that they had less buying power than I did â and I was making less then $30K/year at that time. So, let's nip it in the bud in a half hour meeting.Â
When meeting with your buyers you will sometimes find that their credit may not be all to good or they don't earn enough income per year to qualify for a mortgage that fits their monthly budget. This is not the end of the relationship. You can refer them to professionals that can help them, or come up with a saving plan that will make their home buying dreams a reality.
If you refer them to a helpful professional they will come back and become a raving fan of your services. We're playing the long-term success game here.
When the world is your oyster, and there is a seemingly endless amount of listings that can be viewed, buyers have a hard time narrowing down what their wants and needs are. This is where you as a professional come in. You can show them listings in a projected price range; virtually.
If they hate everything in their budget you may have saved yourself 5-10 hours of your life. They also might curb their unrealistic view of what they can and can't afford â basically, bring them back to earth.Â
Last but not least is taking charge of the sale. When you establish the professional/customer relationship you will have the opportunity to call the next steps. Whether it be getting pre-approved, LP/DU Verified, credit repair, saving more or going right to showings. Â
There's not denying that this is a people business, but it's also a business of dealing with strangers on a daily basis. It should go without saying that meeting a total stranger at a vacant property at the drop of dime simply because they claim they're interested in buying it...well, it's a bad idea. Red flags galore.Â
Conducting a Buyer's Presentation allows you and the buyer and opportunity to meet formally, in a public and safe environment, prior to touring potentially empty properties together.Â
There is a school of thought out there in the Real Estate Industry that teaches agents to play by numbers. It teaches that when you're brand new you should just take everyone and anyone on, show them properties right away, and hope for the best.Â
Yes, you will learn a thing or two with this strategy â but some agents don't have time to learn the long way. If you're a part-time agent, or a full-time parent and newly licensed, or your savings account isn't as large as you'd like it to be. Chances are, you can't spend hours on end learning those hard lessons at a slower pace.Â
The Buyers Appointment/Presentation solves this and will help speed up the learning process. So, if you are still taking out unqualified buyers after these 5 reasons, and feeling like you're not placing as many offers as you could be, you have no one to blame but yourself. Just know that you have been warned about the consequences.
Remember, it is all about qualifying and building relationships! If you do that you will rarely waste your time and your business will run a lot smoother.Â
Are you a fan of pre-qualifying your buyers through a formal buyers appointment? Share in the comments below. Know a fellow agent who would benefit from this article? Share the link with them!
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]]>There's so much fun to be had when creating a marketing campaign around a specific holiday â especially one like Halloween! Let's break down some actionable ideas you can implement for your 2021 Halloween marketing strategy:
This can easily be done on social media by offering up to giveaway a Target, Dunkin Donuts, Starbucks, Home Goods, or even Home Depot Gift Card ($25 - $100). You can create a social post, or even landing page asking your audience/locals to sign up to enter to win. This is a great way to collect emails/phone numbers and generate a wave of engagement.
We're going to tie this in to an Halloween Themed Open House idea later in this post.
This can be done in the form of blogs, videos, or short social posts. The idea is that you share a "scary" home improvement project and a solution to make it easier or more cost effective! This can also be done with "Scary First Time Home Buyer Mistakes" broken up in 5-10 days; OR "Scary Home Seller Mistakes".
You can get really creative here and even ask a vendor (inspector, appraiser, contractor, credit specialist, etc) to chime in on the content so you don't have to write it all!
Alright this idea needs to be executed on steroids...seriously. In order for this to really have a great turn out you've got to take your regular open house strategy and 10X it!
Those are just some general tips to make sure you make the MOST out of the event. If you work with a team and you can host multiple open houses on the same weekend then make it happen! You won't regret it!
Here's a Reels idea that you can record today:
In the video, explain/write out why these are NOT true for each of the bullet points.
Recording Tip: You can easily shoot this anywhere in your home or office. No speaking required. Just some fun spooky music and some pointing fingers!
Call To Action:Â Looking to buy a home? Send me a DM or Call Me Today â Risk Free!
Total Video Length:Â 30-45 Seconds
Music Mood: "Michael Jackson's Thriller" by The Mystery man; OR "Jack's Obsession" by Vitamin String Quartet from the Nightmare Before Christmas
Video Production Time:Â 10-15 Minutes
Did you enjoy these ideas? Let us know in the comments below!
It was a fall day in Flatlands, Brooklyn. My oversized suite blew in the chilly air. I was officially on hour 2 of door knocking and I was going to give it one last block. Twenty more houses before I called it quits for the day.
â20 moreâ, I said to myself, âonly 20 more.â The first house no one answered. Most of the houses on this side of the block were the same. I got a couple of ânot interestedâ but nothing unusual. The first 10 houses flew by!Â
I started back around to finish up my last 10 houses.
âWho the **** is it?â, a voice from behind the door said. âHi my name is Alex withâŠâ Before I got to finish my statement a huge man swung open the front door. âWho gives you the right!?â, he said â throwing his arms in the air. His near 7 foot frame cast a shadow on me. âIâm sorry, I just...â He screamed, âYou will be sorry, if you donât get off my porch!â He turned around and slammed the door.Â
My ego felt like it had been hatchet murdered! I turned around and walked briskly off the property. If youâve been door knocking before then you know one of these âcurse outâ moments tend to happen once every so often. This time it felt a little worse because I thought I was about to fight Kimbo Slice in a suit that was way too big for me.Â
I stared at the last house on the left. Just 9 more... Lightning doesnât strike twice I thought to myself. Long story short on this block lightning struck 3 more times. I ran into one angry homeowner after another. I even had someone threaten to call the cops on me!Â
I thought about cutting out early! I didnât want to deal with anymore abuse. I had enough and my ego looked like Freddy Krueger's face at this point. Finally, I looked at the last house on the left.
I walked up to the second to last house and rang the bell. As soon as the bell went off I heard a massive dog slam into the door barking! I instantly ran for my life leaving my soul on the doorstep. I was really over it at this point! I was traumatized by this block! But I was going to finish the block if it was the last thing I did. As soon as I was done I was going to hop in my car and find a beer as far from this evil block as possible.
I walked up the last house literally ready for anything! I took a deep breath, and knocked on the door. I waited a while and as I turned to leave an elderly lady answered the door with the warmest smile!Â
âHi, Iâm Alex with XYZ Realty. Would you happen to know someone looking to buy or sell in the area?â She looked at me confused and paused. Uh oh I thought to myself again, she was definitely going to mace me.Â
âIâm so very glad you're here!â, she was smiling widely, âI hate my neighbors and would like to move ASAP! Please come in! Come inâ That deal led to a lot of great opportunities in my career. It would have never happened unless I didnât stay focused on the last house on the leftâŠ
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]]>For most new realtors generating qualified buyer and seller leads are the equivalent of cracking The Da Vinci Code. Cold Calling has been a tried and true method since the time of dinosaurs and many Realtors generate tons of business through them. Although it is effective, not everyone has the skill set and fortitude to crush phone calls like the Wolf of Wall Street. So, here are 5 methods of building your book of business without cold calling.Â
Networking is one of the most effective ways of building massive rapport with individuals from different industries. But Alex, I thought we were looking for clients. Most business owners and entrepreneurs are into investing and real estate is one of the best investments you can make. Also, Business owners and entrepreneurs who network probably have friends, associates, and business partners that might need your services. Building a book of referral partners is a must! It is a well that never goes dry. If you are good at making and maintaining friendships this might be an amazing way of drumming up new clients.Â
This one may sound a little boring if you're not into your local town halls and political scene. However, attending these events will put you in direct contact with homeowners and people that care about the neighborhoods you are working. Â
These events will not only help you rub shoulders with potential clients, developers and business owners, it will also help you understand your community niche market that much better. Imagine being able to tell your potential client about developmental projects that will be popping up around them.Â
I have a realtor friend who loves baseball! He joins a bunch of softball leagues every year and makes tons of connections. The best part about it is that you are doing something you love and prospecting at the same time! I mean what is more of a win-win situation.Â
If you are the reporter type, donât mind being on camera and have a taste for an adventure this is an amazing way to meet clients. The method is relatively simple: you go to a restaurant, festival, event, etc, and vlog the experience. Your goal is to meet locals, managers, and owners. Let them know that you want to share their business with your audience. Boom! The cross-pollination process begins. You talk about their venue, get people's positive reviews, and let people know about the housing market the attraction is near. Â
The business is very likely to share the video with its audience, which is usually full of local fans. Share it in local Facebook groups. With a little consistency, you will become a voice in the community. Your real estate business will thank you for it!Â
Open houses are still proven to be the best way of finding new business hands down. Most people who show up at a house are usually interested in real estate. However, most agents leave a lot of money on the table when it comes to open houses. Your goal with an open house is to get into the community and find other people who want to sell as well.Â
Every Open House should be planned 1-2 weeks in advance and requires you to blow the marketing out the roof: Send out flyers, make calls, door knock, run a Facebook ad, and push this listing as if it were your last one. Your efforts will get you in contact with many homeowners who need your marketing expertise to get the most money for their house.Â
The age old adage couldn't be more true âWhere there is a will there's a way.â If you âwillâ yourself to go out there and build relationships and be of service to people the âwayâ will present itself. Now go out there and meet some people!Â
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]]>Wow, 8 years in real estate! I went from working a part-time job at Michael Kors as a stock boy supporting my "real estate habit" to running a team of 34+ agent partners, and co-founding an e-commerce business with the love of my life. Iâm blessed to have made it this far and I know I have ways to go, but in the last 8 years I have learned principles and lessons that I would love to share with you.Â
I wish someone shared these lessons with me back in 2013 when I got started. Some of these lessons Iâve learned the hard way. Some of them were taught to me through mentors and other amazing people that I have met along my real estate journey. Here we go:
This one I learned the hard way. Iâve worked with clients that were rude, unrealistic and down right straight rotten. (This exists...letâs not pretend everyone is your ideal clientâŠ) As a new agent we are so happy for ANY opportunity to list a property. I get it! However, once my mindset shifted from scarcity to abundance, and once my marketing and prospecting strategies got more strategic â I was able to pick and choose my clients.Â
The joy of working in this industry can easily be sucked away by people who show you no respect. We all know that extremely grumpy agent whoâs been in the business for 25+ years. Iâd bet they didnât start off so grumpy. Over time I learned to simply avoid them and only pursue my ideal clients or people who really need the help. This change in mindset made the last 8 years way more enjoyable than had I continued to stress myself out with non-ideal clients.Â
Real Estate is quickly changing and the everyday consumer is becoming more empowered by the internet. Almost 90% of real estate agents fail in their first 2 years in the business purely because they think all a RealtorÂź does is help people buy, sell and rent properties. If you think that is all you're going to provide and be successful you are very wrong.Â
You need to become a real estate resource. You need a network of professionals that you can provide to your clients at the drop of a hat. You need Investors, Lawyers, Accountants, Roofers, Plumbers, Contractors, Security Systems, and Financial Advisors on your team. You need to be a plug of business. This will lead to more conversations, more appointments, more trust, and a larger network.Â
You also need multiple income streams, but thatâs another lesson.
If you stop viewing your clients as prospects and start focusing on connecting and building relationships your business will change dramatically. Being a resource and connecting people is 90% of the battle.Â
Your job is to find people to build relationships with and grow your Sphere of Influence. You can do this in many ways: attending community events, educating at a seminar, social media, making calls, sending out mailers, etc. Just make sure that whatever you decide to do you come from a place of giving. Provide value and give more without expecting anything in return. Things will naturally come back to you.Â
This business for sure has a learning curve and is filled with rejection. You're going to need more than just grit to make it to the Promised Land. Obviously, you are going to need to learn skills and fundamentals but one the biggest issues that I see in this industry is over training and over thinking.Â
At the start of my career I shared openly how I was a brand new agent. I shared openly what my WHY was. This meant that the people around me could become part of my story and participate in my businessâs growth! It allowed me to connect on a deeper level with my sphere of influence, new prospects and my community.
The person who connects with more people does more business than the person that has all the answers. Remember that.Â
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Most agents are looking for the magic marketing/prospecting strategy that is going to blow up their business overnight. The truth is almost every strategy works! Mailers, Cold Calling, Networking Events, Standing on the Corner with Flyers, Social Media Ads, Organic Social Media Posting, Wearing a Buy. Sell. Invest. Hoodie⊠As long as you consistently do something, that's what really matters.Â
Again, rejection and failure are going to be a part of your journey as a real estate entrepreneur. Sometimes you come up with amazing ideas and they donât perform as well as you hoped. The listing presentation hit on everything, or so you thought, and the prospect wanted to see some statistics on the effectiveness of facebook advertising and you didnât have it...
You can take it as a failed attempt or add some facebook ad statistics to your presentation for the future. Your business should always be in some type of growth. In the wise words of Tony Robbins if you are not growing you're dying. Â
I quickly learned that the reason why so many realtors fail is because they do everything the same way as everyone else. What you think is âvalueâ is just the things that everyone else is providing. If you are trying to justify your commission because you provide professional photos, professional drone footage, and you throw it up on the MLS and 350 real estate websites...Iâm sorry, but everyone does that.Â
You need to become a specialist, and provide services and value that most agents canât provide. Once you have proven methods you can justify your commission and investment to your clients without a problem. Be different, and youâll stand out. The competition isnât as over saturated as you think.
I used to pay so much for leads through websites like Zillow, Streeteasy and Realtor.com. I then decided to learn how to obtain leads for a fraction of the price through different sources. With a combination of KvCore, Landing Pages, Facebook ads, Google ads, and Organic Social Media posts I was able to up the amount of leads I could obtain and save money doing it. Â
WANT TO LEARN HOW I DID THAT CLICK HERE FOR FREE TRAINING>>>Â
Taking what you learn and applying it to your business practices is a skill that everyone should master. I know many agents who train 30 hours a week and actually work almost 5 hours a week on non-money making tasks. They know what to say and how to say it, but they just donât take enough action.Â
I was guilty of this as well. I felt I needed to know everything before I could get started. Sometimes it's just better to get on the job training. Go out there and build the courage and resilience you will actually need to succeed. The knowledge will come.Â
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Mastering the space between your ears is really what will make you successful in real estate. Understanding your motivations and the motivations of others will put you 2 steps in front of the competition. Learning empathy, The DISC profiles, body language and social cues will really allow you to build rapport, and find leverage as a sales person, and as a resource in general. Knowing what to say and how to say it is great and it will help you sell. Knowing how to provoke emotion and connecting with someone on a deeper level will grow your business 100x. Â
Robin Arzon, the VP of Fitness Programming at Peloton said it best, âIt doesn't get easier but you get stronger.â In this business you are going to go through ups and downs before finding the fortitude and skill to maintain a steady growth. Just remember that your journey is your own and you are a master of your own faith.Â
Real estate will teach you more about who you are. It will help you create a stronger mentality and help you develop skills that will make you a better person overall whether you stick with it or not. I hope these 10 principles help you scale your business faster and avoid some of the pains that I have gone through.Â
As always I wish you many happy clients and closings! See you in year 9.Â
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]]>Yes, we said "misconception" on purpose.Â
There is a very real reason as to WHY many Real Estate Agents struggle to convert Online Based Leads â both buyers and sellers. Let's break down the top 5 reasons why real estate agents struggle to convert online buyer and seller leads.
Zillow Premier Agent Leads â Relatively Warm, but will cost you a premium because Zillow's Call Centers filter out the wrong phone numbers/emails and pre-screen the leads. It's important to understand that these leads CAME TO ZILLOW (from a Facebook, Google or YouTube Ad actually...) and so they are indeed browsing real estate actively. Whether or not they're ready to buy or sell is the question of course.
Facebook Ad Leads (To Website) â Room Temperature, but will likely be a cost effective option because you will be the one "pre-screening" them (unless you can afford a Call Center like Zillow Premier Agent). It's important to understand that these leads were served your Facebook Ad and many may be several months out from purchasing or selling. You're catching them at the browsing phase, but remember, this gives you loads of potential for long-term relationship building.
Facebook Ad Leads (Lead Form direct) â Room Temperature, but will likely cost you a bit more money than sending them to your lead conversion real estate website. The reason is that Facebook pre-populates the lead's information into the form and all they have to do is click submit. Unfortunately, this means they can easily hit that submit button with outdated information. (Example, my Facebook info is a phone number and email from the past...what's yours?)
Google PPC Leads â Relatively Warm, but may cost you more than Facebook and possibly less money than Zillow Premier Agent. The reason being that, depending on how you run the ads, you should be getting leads based off of individuals who literally typed in keyword search terms that signal they want to buy or sell in that market soon.Â
There are so many other online lead sources and lead generation services, but we wanted to break down this point: You must understand the potential mindset and filtering requirements for the online lead sources you choose to use.
Now let's say you're a Real Estate Agent who has either (a) mastered generating online leads through advertising or organic social media content marketing; or (b) has paid for a reputable online lead generation service.
How do we solve the problem of leads not converting when you have them in abundance? Simple. You're not contacting them fast enough. An online lead should be contacted within the first 2-5 minutes of submitting their information. The longer you wait to call/text/email them (yes, all three) the longer it will take to get them on the phone and convert them to an appointment.
Now let's say you do actually call your online leads within the first 2-5 minutes, but you're still having trouble converting them into appointments and then sales. The problem may be that you're not contacting them enough times. It can take 9-18 touches/contacts (and some sources say 35 touches/contacts...) minimum to reach out to and convert an online lead. This means you must try calling, texting, and emailing the online lead 18-35 times before you have success. Are you currently doing this, or forgetting about the lead after 1-3 touches?
When it comes to online lead generation, your C.R. (Conversion Ratios/Rate) matter. A relatively average real estate agent will have a 1% Conversion Rate with Online Leads. This means that for every 100 Online leads received by that average agent, only 1 will convert.
If we scale that math, it would mean that if the average agent would like to close 12 Sales in 1 year, they would need to generate 1,200 Online leads in those 12 months.
Take this information into consideration when deciding what your advertising budget will be. If you're netting at $5/per lead you'll need to spend $6,000 for the year. If you're netting at $25/per lead you'll need to spend $30,000 for the year. If you're netting at $2.50/per lead you'll need to spend $3,000 for the year.
The final piece to consider is your individual skill set. Real Estate Scripts exist for a reason! Top Producers practice them via role play for a reason. Let's say you have an abundance of leads coming in, you call them right away, and you even have a CRM that automatically follows up with them for 1,070 days and YOU STILL are not converting them into sales.
The solution is simple. Work on your scripts. Find a role play partner, find a role playing group, find a team leader who role plays â and just do it. Practice! You'll see a difference within a few days if you do.Â
Did you find this article helpful? Let us know in the comments and share it with your real estate friends.
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This 100%Â FREE training with Alex Fazleani ( @alexfazelani ) covers how real estate agents can covert more buyers and close more deals
What You'll Learn:
This 100% FREE training with Alex Fazleani ( @alexfazelani ) covers how real estate agents can utilize Real Estate Sales Funnels in order to generate more leads, nurture their database, close more deals and grow their business.Â
What You'll Learn:
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