Ep192: Lead Conversion Action Plan — ListingAgentLifestyle.com

Today's Listing Agent Lifestyle Podcast episode is the third in a series of Clubhouse rooms we're recording, exploring the five essential pillars for success. Specifically, we're talking about Lead Conversions and how to put this into action.

We'll dissect the process of converting leads into tangible results, and we introduce a critical yet often overlooked metric, Revenue Per Unconverted Prospect, or Rev Pup, to help you measure the value of your generated leads.

We dive into the importance of patience in lead generation and explore a fascinating study that offers a fresh perspective on lead conversion rates & shows a 10.7x ROI on this listing approach.

Lastly, we run through the power of the 50-Minute Marketing Sprint to focus on an action plan to revive dead leads, find your 5-Star Prospects and motivate NOW prospects to reach out to you every week.

Highlights

In this episode we introduce the concept of Rev Pup (Revenue per unconverted prospect), which is a critical metric for measuring the value of leads.
Dean emphasizes the importance of understanding the two time frames of 'now' and 'not now' in lead conversion, as well as the value of five-star prospects.
We explore the power of the Pygmalion effect, a psychological principle that can be leveraged to shape lead expectations and results.
It features a case study of Tony's decade-long investment in postcards and newsletters, demonstrating the value of persistent nurturing of leads for long-term gains.
We guide listeners on how to make the home buying process less intimidating for buyers by creating a tour of homes landing page and setting up a home buyer workshop.
The power of emails to nurture leads in the real estate sector is discussed, emphasizing the importance of establishing a system to foster relationships with leads.
Dean provides practical advice on sending an email with updates on all the market activity to ensure any investment made in generating leads is viewed as a capital investment rather than an expense.
We discusses the importance of creating a vending machine-like system that can supply your pond with the buyers you want, which will form the basis to get all the listings you desire.
We recommend setting up a template and system so that emails can be sent out without needing to think about it.
We wrap and provides resources to support listeners on their journey to revolutionize their approach to lead conversion and revenue generation.

Transcript: Listing Agent Lifestyle Ep191

Dean: Well, welcome board everyone. We'll get everybody gathered in here and we'll have an on time departure. We got a lot to talk about and share with you today. Lots of goodies we'll be sharing in the chat with you. So if you're on Clubhouse listening live, you'll get live links to the visuals that I'm going to share with you as we go, and if you're listening on replay, I believe the chat will still work. And if you're listening to this as a podcast on the listing agent lifestyle podcast, you'll find all of our exhibits in the show notes at listing agent lifestylecom. So let's go ahead and get started. Welcome everybody. Back to this is day three of our five day listing agent lifestyle sprint in the listing agent lifestyle Academy house here on Clubhouse, and we've talked on Monday about getting referrals, we talked yesterday about converting lead or multiplying your listings, and today we're going to talk about converting leads. Now, these three things all have one thing in common you already have an asset base for this. There's going to be things that you can do right now, today, to make an impact on and recapture value from what you've already done, and I'm very excited about that. So, as you know, everything that I talk about comes with a metric, because I'm in the metric improvement game and we don't know how to improve anything until we know how to measure it. So right now, if we look at it, the guiding measurement that we look at for converting leads is something we call your Rev, and Rev Pup is a short form for revenue per unconvex prospect, and so that treats all of the leads that you've already generated, all the leads that have come across your path in the last six months, 12 months, 24 months, five years. You're going to see that there's so much value just sitting there in that pool of people and we're going to talk about how to recapture it here, how to tap into it and then how to maximize, going forward, all the leads that you're generating so that you maximize the conversions.

Now, I started looking and studying lead conversion years and years ago, because one of the first things that I learned to do when I really started studying direct response marketing was I learned to generate a lot of leads and we could get people to raise their hand, and what I found out is that not all leads are created equal, and the thing that especially is still true among realtors is that we value the right now leads. We value the people who are ready to buy right now, and the way that often we judge whether something is air quotes worth it is how quickly the leads convert. And often see people complaining in Facebook groups about insert the name of the lead generation program here, saying I tried Zillow leads for three months. That doesn't work. I tried realtorcom leads, I tried Facebook, I tried Google AdWords, all of those things. Typically, the people who are saying that those leads are no good are the ones who have tried it for less than 90 days. Usually we're quick to give up on something if somebody doesn't convert right away.

And so I started really looking into aside from our ability to convert these leads as a verb meaning something that you're doing your skill at lead conversion. I started really looking at it and saying what's inherently going on, what would happen with these people if left to their own devices. And one of the best things that I found was a study from a company that does lead management on an enterprise level for all kinds of businesses, and they really dug deep into the future value of leads and what's actually happening when you generate a lead. So this company called the inquiry handling service. They handled millions of inquiries a year across all all types of industries, for enterprise level companies, and they did something brilliant which I really got a lot out of. They did what they called did you buy surveys, and this was the thing is they would generate a group of leads or they would run a lead campaign for Kohler faucets or people would inquire at home show or from a magazine or a website for literature or catalogs about Kohler and they would follow up with everybody who inquired or they take a sampling and they would go back 18 months and they would say let's check in on the people who inquired 18 months ago and let's see what actually happened with them. And what they found out was that just over half the people that inquired about anything would buy what they inquired about within 18 months, but they would do it at 90 day increments. They would go back 18 months, then they'd go back 12 months, 6 months, 90 days, and what they found was that only 15% of the people who did buy did it in the first 90 days.

So that means that there's five times more value in a bundle of 100 leads that you've generated 90 days and more than there is who's going to buy in the first 90 days and that really changed the way that I think about it. What it does is it makes you a more patient lead generator and you know it's a very interesting thing. It's almost like you're swimming alone in this kind of category, because most people don't have this knowledge and they don't have a system to recapture or to nurture all of those people. So I like to think about this as treating a financial instrument for this, where you can kind of predictably measure what's going to happen with a bundle of 100 leads. You know I take a very scientific approach to everything because I want to know what predictably is going to happen here. Right, what can I count on? You can't gauge any predictability from a sample size of one listing If you own, or one lead. If you only generated one Zillow lead and they didn't buy you'd have, you'd come to the conclusion that Zillow leads don't work or that Google AdWords leads don't work or Facebook ads don't work.

So let's kind of look at inherently what what's happening and trust that guidance that, regardless of whether they buy or sell through you, what's actually going to happen with them in 18 months. So I like to be conservative on these kind of things. So I took my guidance and said well, let's lower it to 50% and let's extend the timeframe to two years instead of 18 months and let's see what that looks like. So I created some visuals here for us to kind of help you wrap your mind around this, and we're going to share them in the chat right now. And this first visual if we can post that up, stuart or Diane will be if you click on this, there's three, three stages. Here is one, one PDF with three stages, and let's just look at the top illustration here. This represents 100 leads on day zero.

If we were to generate 100 Facebook leads today, or 100 buyer leads today, this is what it would look like. We got 100 circles here. Now we don't know which of these people is the five star prospect, who's? Who's the? Who are the people who are going to buy? But we know that if we fast forward to 100 weeks from now to years, that half of them are going to have bought something here. So half of these people are actually going to be shiny, happy people who've done something. But at a hundred days we've only got eight of these 100 who will have bought. Now, hopefully that just looking at that, changes a couple of things for you. That number one you realize that over time, there's a good chance that the majority of these people are going to do something right and that we don't need to put so much pressure on it being right now. Eight of them in the first hundred days are going to do something. 15% of the 50% who are going to buy. That's roughly eight people out of a hundred leads. And what we don't know on day one in of them it's going to be.

Now. Here's the good news is, if you've already generated a hundred leads over the last one year, two years, three years, five years, whatever it is, this is a good opportunity for you to gather up all of those leads, to gather up the people that you've already come in contact with, who raised their hand at some point because they were interested in buying a house or selling their house, and they came into your world as a lead. Now one of the greatest things that we have the opportunity to do is to gather them all up and send them what we call the amazing nine word email that revives dead leads and the email. All we want you to do is send an email that simply says hi, stuart, are you still looking for a house in Georgetown, or are you still looking for a house in Winterhaven, or are you still looking for a beach condo or whatever you know about that person did through the last conversation that you had with them, and what you're going to find is that it may be several months or weeks or even years since you had any contact with them, but sending an email like that is going to reignite the interest that they had at that one point. It's going to reconnect you with people who are at the point that maybe now is the time that they're ready to buy.

And the most important thing to understand about lead conversion is that it's not about timing the market. It's not about if they say six months, you follow up in three, or if they say next year, you follow up this year. It's not about trying to time the market. It's about understanding that there's only two timeframes, and the only two timeframes are now and not now. That's all you need to know and all we're looking for. The only thing we're looking for is the people who are ready right now.

And when we say what we're looking for in terms of who our ideal prospect is, we talk about five star prospects, and five star prospects are people who are willing to engage in a dialogue. They're friendly and cooperative, meaning when you send them an email or you talk to them on the phone, they're friendly and cooperative. They know what they want. Number four is that they know when they want it, meaning they've got a plan or a sense of a timeline. And, number five, they'd like us to help them. So five star prospect doesn't mean that only that they're ready to go right now, because we can have a five star prospect who inquires right now but is not going to be doing anything till the spring. But they know that they're not gonna do anything until the spring and they'd still like you to help them with information and with keeping them up to date on the market. That's a five star prospect.

Everybody that you know about now you've got this secret kind of inside knowledge about the potential business that's available there. So we want you to kind of focus on reviving the leads that you've already come into contact with. Now that little email or it can work easily as a text as well could be a big, big result for you, especially if you've generated a lot of leads. You know this is your chance to where you want to kind of gather everybody and realize that this is the greatest opportunity you have is to revive the dead leads. First, gather everybody up, because the odds are that somebody who inquired months or years ago is ready now, and by you communicating with them, that's going to reignite the relationship with them and start you moving forwards towards being able to help them. So I would suggest that today's action for you start with gathering all those people up and have a sense of how many leads that you have, how many leads have come into your path here, how many leads you've already generated. So when we look at this, what we're trying to establish for you is we're trying to establish a sense of what your asset value is.

Remember, I mentioned this metric that we talked about of rev per unconverted prospect. Everybody listening right now has a rev pup number currently, and how we calculate it is we take the total number of leads that you have, the name, address, email address, telephone number, some form of contact information for them, anybody who at any time has come into your world and expressed some level of interest in buying or selling. That's what we're constituting as an unconverted lead. They haven't done anything with you yet, but it's an opportunity for you. So we calculate that number as a yield annually on what your relationship portfolio spins out each year your revenue per unconverted prospect.

So as around numbers, if we have, let's say that over the course of time you've generated a lead. You've got a thousand people that have come to your open house, responded to an ad call, got a Zillow leads or Facebook leads or Infobox flyers or postcard responses or ad calls, whatever it is. You've gathered up a thousand of these people and let's say that you generated $100,000 in the last 12 months from those unconverted leads. Now your number maybe is gonna be whatever it is. Maybe you generated 500 leads total and you generated 50,000 orders, whatever it is. The math is what I want you to track along with here, because it's gonna change the way that you think about things.

So everybody that you did business with in the last 12 months came from somewhere. They either came from a referral or repeat or direct piece of business, like what we talked about on Monday. They were either a listing that you got or a buyer that you found, but at one point they were a lead, and referrals are leads too Somebody you know if they don't buy yet, if you got a tip about somebody that counts as a lead. They're people that you have foreknowledge of, somebody who has expressed some level of interest or that interest has been expressed to you. So when we look at it and we take that number, you generate. You've got a thousand people in your portfolio of unconverted prospects. You generated $100,000. We divide your 1,000 prospects into that $100,000, and we get a number of $100 per unconverted prospect. So you can see how this is scalable.

Right, you can see how, when we look at this number, the thing that we're trying to establish for you is how are you doing in converting those leads right now and what's your current system yielding? Now? Your current system may be that you immediately follow up with people. You find out if they're ready to buy, and if they're not ready to buy right now, you tell them. Maybe you'll check back in with them or hope to work with them in the future, and then nothing happens. That may be for some of you that's the case. You're only looking for the people who are ready to go right now. Maybe you've got the stamina to follow up with somebody for 30 days. Others of you may have a really great systematic way of keeping in touch with people until they're ready to buy or sell, and that value is going to play out for you as raising your revenue per unconverted prospect.

And the reason that we talk about converting leads before we talk about generating leads is because it's going to make your investment in generating leads a better, more secure capital investment instead of turning your advertising into an expense. So here's one of the things that we look at in the way that we measure it. How we look at it is to look at everything that happens with those people, and I'm a big believer in tracking everything and that the long-term is where all of the value is. So, stuart, can you post up the five-year results for Tony Calci, the graph here, and for every one of our clients that I'm working with closely? We immediately hook up metrics to and measure what's happening, and I mentioned that and we'll talk more about this on Friday when we talk about getting listings that we did a case study and we're coming up on 10 years now for a case study on getting listings. And if you look in the chat right now, you can click on oh, I got access denied, stuart, on that link there.

If you click and see this graphic here what you'll notice. Okay, there we go. It came up for me now. What you'll notice is a infographic that illustrates the concept that I'm talking about right now and if you look at this, this format that we use, and you'll see this extended out over 10 years, on Friday or later on today I'm gonna show it to you too. But when you look at this, the numbers across the bottom represent the months from September 2002, september 17th. So that's a first four years of this.

To show you kind of where the long value of this comes in. The red dots along the bottom represent the cumulative amount of investment that Tony made in sending postcards and sending newsletters to follow up with the people who responded to the postcards. The green dots rising and going all the way up there represent the cumulative amount of commissions from closed transactions, from people who responded to the postcards, and then the yellow dots that trail with the yellow line show when they responded to the initial postcard. So you look at how much of the pounding value. You look at what happened in year four of this is an exponential curve because he was not only getting the people who were ready to go right now, but he also got the people who had been, who had responded a year ago and two years ago and three years ago. So the value of treating your un-con asset and continuing to nurture relationships with them is a phenomenal investment. You get an amazing return on spending your time and effort and money on doing that.

So let's look at the nine year case study here. If you can post that one up, stuart, you'll see that this continued to grow and grow and grow. At year four, we were up over $500,000. By year nine here we've been now up almost $3 million, which is an amazing outcome for a long-term approach to nurturing leads for a long-term. So that gives you a amazing thing.

We had to change the format because of the graphic change here, but that still rides along the bottom. There's the cumulative results along the bottom each of the years from 2000, hour 22, and the green total is all of the commissions. The red along the bottom is the amount of capital investment in generating those things and the yellow dots. If you look at it, if you just look at what happened in 2022 alone, if you just trail those back, you'll see that in 2022, he did transactions from people who responded in 2022, in 2021, in 2020, in 2019, in 2018, 17, 16, 15, 13. I mean, you look at, every one of the exponential curve of revenue going up and up and up came from this pool of converted prospects. I just got off the phone with Tony this morning because I'm going to have all of the results for the 10 year anniversary here of our case study for us on Friday and I'm very excited to share and see what happens there. But I hope that what this is doing for you is getting you excited about not only recapturing the value of all of the leads that you've already generated, but changing and shaping the way that you think about the new leads that you're generating, and so, rather than coming into this with a mindset that those leads are no good, I'm a big believer in what is called the Pygmalion effect and in a short version, the Pygmalion effect is basically you get what you expect in a lot of ways and the ground baking kind of study around.

It was done with teachers in education. They would tell certain teachers that one of their students they would say Shelley is a gifted student. You're really lucky to have Shelley in your class. Now, there would be nothing special about Shelley. She was randomly selected and told to the teacher that she was a special gifted student and she's going to expect great things from her and inevitably what would happen is that Shelley would outperform her historical performance and outperform the class because of the expectation of the teacher. Now certain other teachers were told that Jason is a problem student, jason's trouble. You gotta keep your eye on Jason. He'll try and get away with everything. Don't let him get away with stuff. Now, the expectation that the teacher brought into the relationship with Jason shaped his results and he would inevitably underperform the rest of the class and underperform his historical performance because of the expectation of the teacher.

So I believe this exact same thing is true in the way that we approach leads. If we come into it with this thing that Facebook leads are no good or Zillow leads are no good, they're tire kickers, they don't buy. Well, we've got lots of evidence and lots of track record and documentation to show that they do. What if you expected that they were? If you look at it, if you just come into the expectation that they're going to do something, diane and I were, before COVID, doing some lead generation for a getting listings Facebook study that we were doing videos when you could target very specific neighborhoods. Facebook has since knocked off the targeted geographic opportunity that you had, but I had Diane go through and see what happened with the leads that we generated, just out of curiosity. So in 19 or whatever before the pre COVID there, we had generated 130 leads in three different neighborhoods here in Winterhaven as part of the experiment, and almost 40% of them have sold their house.

So the leads that you're generating today are going to be the future sellers in the near term, and by near term I mean if you're planning on being in real estate in the next two, three, four, five years. It makes all the sense in the world to really continue to just like compound interest. You're. The best time to invest in mutual funds or into the stock market is early, as you're retiring because you get the compound interest of the value over time. Well, the same thing is true with your leads that are going to be gestating at different stages. So I hope that I've done a job of getting you excited about what you've already got Now gathering them up.

You may not have an organized way of treating them like a portfolio, and that's okay, because gathering them up is the first phase, but you've got to have a place that now you can collect them and continue to broadcast to them. I'm going to share a simple strategy for you and in the form of a weekly email that we call a market watch email, that you send out every single week to all of your prospects. This isn't something that you send to your clients or your sphere of influence or the people that you're working with right now. This is for your unconverted prospects. It's the holding area. You know, I always talk about this as stocking your pond.

We want to stock your pond with all of the fish who are going to at some point buy in order to get in your pond. Somebody responds to an ad about beach condos or oceanfront homes or whatever you know, winter Haven House prices or lakefront homes, whatever it is. However, you get them. We're going to label, tag those fish, we're going to put them in the holding pond and we're going to nurture, we're going to feed them. We're going to nurture that relationship over time and only look for the time when it becomes Now.

In order to do that, we've got to know how can we make it super easy for people to move forward, you know, to put themselves in their place and to start the process with you. So I like to think of this as beginning right at the beginning with the end in mind, knowing that we're going to treat these people like their five star prospects until they prove that they aren't, versus treating them like they're not five star prospects and having them jump through hoops to prove that they are. It's a different come from, but it makes all the difference. It's bringing that pygmalion effect. We're going to treat people like if you knew so I often say this to people if we had a time machine and we could go back in time one year from today, one year ago, but we could bring with us an MLS printout of all the people in Winter Haven that sold their house in the last 12 months, if we could go back in time and we had for knowledge of who those people are, wouldn't that be an advantage? If all we had to do was nurture a relationship with the people that we know for certain are going to sell their house, well, we've got something almost that good. We don't know for certain that everybody's going to buy their house. We've got at least. Then the longer it goes. What if we have even a 30% certainty that in the next 100 weeks. 30 out of 100 of these people are going to buy a home. We just don't know which 30, so it makes sense to treat all of them like they're the five star prospect. We don't want to scare them away, we don't want to be too pushy, we don't want to put our agenda on them. We just want to make sure that they know that whenever you're ready, here's how we can help you, and those magic words that we put in the bottom of every weekly email that we send out are what I call your super signature, the PS. We use a PS in your email, but we end every email with plus whenever you're ready. Here are three ways we can help you. Now here's how we got to those three ways.

A lot of times, people are very, very obsequious with their leads. They're either too aggressive or too obsequious. Obsequious meaning bending over backwards or trying to be too syrupy with people or too overly helpful, and how that manifests itself is best illustrated in hospitality. And so I like to set the stage of imagine if I brought you into my home. Imagine if I brought you into my home, julie, and I took you into the living room and I said hey, I'm really happy you're here. If you're hungry or thirsty or you want anything to eat or drink, there's lots of stuff in the fridge. Go ahead and help yourself.

Now, I grew up in Canada. I see Michael here. I think Michael's from Canada. If I grew up in Canada and we're very polite, as our most of people, you're not likely to go and take something from my fridge because nobody likes to impose on people, nobody likes to take the initiative. But what we're doing when we say to our clients, we say to our prospects if there's any way I can help you. If there's anything you need, please feel free to email me or text me or call me. I'm always here to answer any of your questions. Now that is even though we're very sincere, just like I would be with Julie. I'd be very sincere and I would love it if she felt comfortable enough to go and get something from my fridge. But God's are that she wouldn't and she wouldn't feel that comfortable.

Just like your clients, your prospects, you're expecting them to take the initiative. Now if we contrast that and I sit Julie in the living room and then I go into the kitchen and I come out with a plate of freshly baked cookies and I go right up to her and I say, hey, julie, would you like a cookie? It would be very difficult for Julie not to take the cookie and I think it would be very difficult for most people because you've already done the work You're not imposing on me. Never in a million years would Julie or any of you say if I said, if there's anything you need, there's lots of stuff in the fridge, none of you would say you know, it would be great Would you bake me some cookies. It's not going to happen.

Yeah, that's what we're expecting our prospects to do. We're expecting our prospects for you to say to people hey, if there's anything you want to eat or drink, then you're expecting them to take the initiative and say would you run off a list of all of the homes that match these requirements for me or would you look into this? We're expecting people to put you to work, but people love to go along and move forward and do things. So if you think about what's actually happening with people when you go into a relationship with them, which is what you're doing, when somebody responds to one of your ads, they come into your world. They've asked for your guide to oceanfront house prices. They want. They're saying to you I'm looking for an oceanfront home or I'm looking for a lakefront home, so what would be the best way that we could bake some cookies here? That would make it super easy for people to take the next step.

If we do an example there of the ones that we use stem from understanding what's going on in their mind. If somebody is looking to buy a home, what are the next steps or the triggers that are going to trigger that for them? There are certain people who they just want to go out and look at homes. That would be what would trigger them moving forward. There are other people who maybe they've never bought a home before and they would love to know about the process. How does this all work? How do I even buy a home? And then there's other people who they just need to know they wouldn't go and look at anything until they know for sure that the money is all organ. How much can I even afford?

So if you think that those are the three conditions that people are coming into this, that those are the three drivers for them, we can start going to work and think about how to create, how to bake cookies that would appeal to those people and how we've done it is making it super easy for people to take advantage of them. So we'll say to people plus, whenever you're ready. Here's three ways we can help you know Whenever you're ready, let's people relax, let's people know you're not in a hurry, it's on your time frame here. So we'll say whenever you're ready. Here are three ways we can help you. Number one join us for a daily tour of homes. We do home tours every day at 10 o'clock and one o'clock, or 10 o'clock and two o'clock, or whatever times it is Now. Does that mean that you're going to go? You're not organizing a tour every single day.

What you're saying to people is, because these are private tours. But if you're saying, is there anything that would be a higher you know activity for you? Or somebody called you and said can you show me houses tomorrow? You of course would want to do that. So you make it seem like the you know the times that you can show people properties are either in the morning or the afternoon. Putting a time on it and setting it out. There is a great way to make it easy for people to take that first step, like they're not imposing on you and I think it would be wonderful if you think about a way to get those 19 slots in the course of a week of times that you could show properties. It would be an amazing thing if all of those were filled, even if it means that you bring on buyer agents or showing agents to be able to do that kind of thing. But you certainly want to aspire to it as your inventory and it makes it really easy for people to go to.

We have a tour of homes landing page that we create in Go Go Agent. That is a way for people to indicate and get on the calendar that they want to go and see and do a daily tour of homes. So that's one way that addresses the people who want to go and look at homes is the first step. Then the people who need to find out about the home buying process. So if you did a home buyer workshop by Zoom or in the library or in person about going through the entire home buying process and you could say whenever you're ready, here's three ways we can help you join us for a daily tour of homes or come to a home buyer class. Where you do by Zoom or at the library.

We walk through the entire home buying process, figuring all of the things that you know to buy a home that's going to be appealing to some of your buyers. But what about the people who just want to know about the money part of it. Now we always say to people have you been pre approved? You got to get pre approved? Have you been pre approved? We use those words pre approved, pre approved which are very intimidating words for people and I started thinking about this from you know, years ago in terms of how could we make it so that we get the outcome? What we really want to know is are people qualified? How much can they buy? To give them the confidence in what they can afford, help them figure out what they can afford. But if, instead of making it seem confrontational, what if we made it seem valuable to them? I'll tell you a little story.

Garana, one of the ladies in my email mastery program she's got. She had a two year old James who was always running around bath time. She would run around the house and James, it's bath time, it's time for your bath. Come on, james, put your toys away. It's time for your bath. And he would always be resistant to bath time. One day she decided what if I took a more cheese, less whiskers approach to this? What if I made it something that sounds more fun for him? So the next night she went in it was bath time. She came in with an enthusiastic voice James, do you wanna go splashing the tub? And he went running for the bathroom, taking his clothes off, jumping in the tub, and she just laughed to herself because that level of thinking what's in it for them is a much better way to approach things. So pre-approval sounds like bath time. How can we make it seem like splashing in the tub?

So one of the things that we offer is a free home loan report. Now, a home loan report sounds like options, it sounds like data, it sounds like information that's been compiled and that we've got access to, something that most people don't have, and we describe it as. Each month, we monitor hundreds of different loan programs all across the country to find the very best low interest loans, low down payment loans, zero down payment loans, lowest total cost loans. We put all of our findings together in a free, custom home loan report. Now, that sounds much less confrontational than pre-approval. Nobody wants to put their approval on the line right. It sounds very confrontational. It sounds like I'm going to sit you. I'm the big banker, I'm gonna sit you across the desk from me, I'm gonna look at your paperwork, I'm gonna look you up and down and I'm going to judge you and approve of you whether you're worthy of a loan. But when we talk about it as a free home loan report, now we can get on the same side of the desk as them and together we can look at all of these home loan options and choose a home loan that's right for you. Yet we end up in the same place, right? This is the thing. Is that desire for James was that he's in the tub getting clean? Same thing with us. We wanna be in the conversation with people talking about financing and if we can make it about options more than about their approval, whether they're worthy or not, the binary of it, we're going to get much more interest in something like that.

So when we have those cookies, when we bake those cookies and we put them in a flagship email that we send out every week to people, do you think about every Tuesday, wednesday or Thursday if we sent out an email with updates on all the market activity in the last 12 months, or 12, seven days, with links to where they can search all the new listings that go to your ID or somewhere where you can monitor what people are doing. You set them up with able to search properties under your name or under your umbrella there so you can see what people are looking at. You can monitor what's happening With GoGo agent. Every time we send out an email we can. You're sending one email. By the way, you're preparing one email, whether it goes to 100 people or 10,000 people. It doesn't take you any more time to prepare it.

So there's total leverage in what you're getting from your lead conversion process, fueled by the number of leads that you put into the system. But it's so much better for you to prepare the system beforehand than it is to just generate a bunch of leads and only skim the cream, looking for the ones who are ready right now, which is very, very much the minority of people, right. And that way, when you've got a system that can nurture these leads, you've got yourself now a capital multiplying machine and you can take any investment that you make in generating leads as a capital investment rather than an expense. And the difference is that when you're taking an expense-based approach to marketing, people are taking a amount of money, they're rolling the dice, thinking that this might work out and they're hoping that they're gonna run the ad or send the postcards or do whatever they're doing to spend the money right now and that, before the credit card bill is due in 30 days, that they'll have done transactions with that money. They're front-end loading their expectation and they don't get the result that they're looking for. They take what I lovingly started calling a slot machine approach right. They hear other people talking about I did this and I got this result. If you watch, your Facebook newsfeed is filled every day with people trying to attract you to their slot machine. Telling the story, the tale of Donna from Poughkeepsie who put in this much money, she pulled the lever and she got 13 closings in her first seven days, or whatever it was. She hit the jackpot and so everybody now rushes over to that machine, puts in their money and pulls the lever.

Well, what we're gonna talk about over the next two days is how to set up not a slot machine, but a vending machine. Wouldn't it be great if we could stock your pond with exactly the buyers that you want, which are, in turn, going to lay the foundation to get all the listings that you want in any category, whether it's oceanfront homes, where you've never had any impact in that market yet, oceanfront condos, lakefront homes, mountain view homes, city view homes, golf course homes. Whatever category you're looking for, it all starts with your ability. We gotta build the nest before we go out and start catching all the birds, right? We wanna keep them in this place where we can nurture these relationships with them until they're ready to go. So that level of weekly, it's all it takes.

Email with just a little bit of intro from you, a link to all the activity in the last seven days. Here's a link to see all the new listings. This one really caught my eye. I've been working with a couple, so I've seen all the three-bedroom homes with pools. So if that's what you're looking for, here's my recommendations. And then PS, we're doing daily tours of homes every day this week if you'd like to join us for a tour Plus whenever you're ready. Here's three ways we can help you. Now we've got templates and everything all set up for exactly how to run these emails and we can even do them for you so that you don't have to do anything. You just give us the link of all the activity that happened in the last seven days and we're able to write and send that email for you. So you don't even have to think about it. You've got a system that's nurturing relationships with your leads and then, whenever the time is now for those people, they show up because they sign up for a daily tour or they wanna come to your home buyer Zoom, or they wanna get a free home loan report, and you're all of a sudden in conversation with people who responded six months ago or 60 days ago or two years ago, whatever it is. It's all beginning when you really put a wall around all of the leads that you've already generated and you start nurturing that weekly relationship with them. So that is, in a nutshell, the basic things of following up with leads.

So again, I did a lot of talking here and the purpose of these is that I want you to understand the framework here. I'm open. If you have any questions or anything you'd like to talk about with this, I'd love to bring you up. I see Shelly has raised her hand, so if you wanna just raise your hand, we'll learn the moves. This is the first question that we've had on the times here. So, shelly, how are you? I think I made your mic live, shelly, if you are. Oh, sorry about that, I guess I muted me. So if you've got questions or you've got anything you'd like to talk about, you can raise your hand on there and I'll be able to bring you in, shelly. I know that I was probably operator error on my part here for getting you in there, but here's the action plan for today.

First of all, the first step is in gathering up all of the leads that have come through your hands ever, literally. You'll see that in that infographic that I showed you from Tony nine years. Last year he had someone that responded to a postcard nine years ago that ended up selling their house and it was an $18,000 commission plus on that thing. So over nine years that person nurtured that relationship with them. So it's never too late to recapture with it for you. So we wanna gather that up. We wanna put them all into your pond when our pond will call your CRM with email broadcast abilities like what we'd have at Go Go Agent.

If you don't have an email broadcast system that you could send out weekly emails by bulk to you know 100, 1,000, 10,000 people, then certainly you're welcome to join us at gogoaidcom. If you have that, if you've got MailChimp or GetResponse or whatever you're using, this is the tool, this is the place to gather all of those people and send out first off a nine word email and just ask them are you still looking for a house in Winter Haven or are you still looking for a beach condo? That's gonna be your action item number one and I bet that, of all of the people listening to this, whether you're with us live or whether you're listening in a replay or on the Listing Agent Lifestyle podcast, if you do this today, you're going to find that you're going to engage, re-engage with people. I always love, especially, to do this at change of seasons. So you know, we're just about to hit Labor Day. I love to, in the fall, send somebody a message saying hey, are you still looking for a house in Winter Haven In January, new year? Hey, are you still looking for a beach condo? In the spring, coming into the summer, are you still looking for a beach condo?

You could do this three or four times a year and every time you do it you're going to have people who raise their hand and then get into this habit of, every single week, sending one flagship email with all of the activity from the last seven days, so that they know there's a place. You're gonna scoop them, you're gonna show them all the new listings, but, more importantly, you're doing it with some personality in that now they're attaching you to the person who's doing this, not just setting them up on an automated search, which anybody can do. Right, anybody can set people up on an auto search and send them. Here's the new property alert data for, you know, september 30th. That could be done by anybody. That could be done by robots.

What we wanna do is we wanna add your insight into this, so you may add some commentary or talk about your favorite one of these, or ones that you think are particularly remarkable because of some reason that you can't find in an algorithm. And you're making you real just with the short little what I call host chat at the beginning of your email, telling people about what you've been doing the last week, or who you're working with, or what you've seen, or new listings that you're about to go and get, or people that you're working with that are looking for particular types of homes. All of that, along with your super signature at the bottom of every email offering people the chance for it to be now and to pop out and join you for a daily tour of homes, or come to your home by our workshop, by Zoom, or at the library, or get a free home loan report and all of these things. We have intelligent links for that. We can see who's clicking on what. Every time you send out an email, we gather data about who opened the email. What did they click on? Did they click on this particular price range or this particular link? Did they click to ask or think about a home tour of homes or a home loan report? Now you know who's doing what. Every time. You can see how many people open your email and it's pretty interesting for you to track and watch everything that's going on.

But if you just do that every week, it's a little lead conversion machine that will start pumping out right now prospects, and that's what we really want is. We want, remember, two timeframes now and not now. Your pond is the holding area for people who are not now now being today. Now is when at some point, it's going to be now for somebody and we've just got to have the stamina and the system to get to that point. So, okay, that is pretty action packed here for you. This can have a big impact and I'm glad that I got the chance to kind of just do a deep dive and focus on hopefully changing your mind about the way that you think about lead conversion and maybe spurring you into action to do that.

So I'll open it up one last time. If you've got any questions or anything that you would like to talk about, you can raise your hand. Otherwise, in the chat we have the links to the illustrations and things that we talked about today and if you're listening to the replay, I believe you can still access the chat. And if you're listening on the Listing Edge and Lifestyle Podcast, look in the show notes for this episode and you'll see all of the links. So that's it for today. Tomorrow we're going to be talking about finding buyers and then on Friday we're going to talk about getting listings to round out our week about the five bankable results that we can focus on here on Clubhouse. So that's it for this week. Thank you for tuning in and I will look forward to talking to you tomorrow.

Links

Highlights

Transcript: Listing Agent Lifestyle Ep191