Convert online leads for enterprises

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can you guys see the screen yes awesome yeah all right so today in our business building series we're going to talk about online lead conversion um a topic that is near and dear to my heart as I spent some time at a startup many of you know um and we did a lot of work on online lead conversion we were zillow's number one customer in the country um and we did pretty significant shifts in uh in our online lead conversion so let's look at some of the numbers what should you expect when you're working with online leads well ing to Zillow two to 3% is what you should expect uh two two to three% conversion rate okay so owners.com actually tracked uh online buyer leads and found that 56% of them actually bought a property within 18 months of first Contact although mostly not with their agents which was an interesting uh conversation um but they they did determine that 56% of the the leads actually ended up buying something in 18 months and under a direct conversion program that we worked on uh we brought that conversion rate from the 2 to 3% above 9% um using impr proven strategy so what what do all those numbers mean for you well you'll likely have to fail 15 to 30 to 50 people in order to get one closing that's a lot right like does that seem like a lot yes right it's okay you have to talk to or work with 50 people and only one of them is GNA close well that's a lot um but interestingly enough think remember over half of them eventually close if you can stay in front of them so let's talk about some ways that we can do some of that all right so what makes the difference between the numbers what do you think makes the difference between those 15 30 or 50 people to get a closing don't all talk at once being able to start a conversation with them number one getting them to answer you definitely getting getting connected right getting the response what else like let's assume that you talk to some people what do you think keeps them from like why would one agent get a 30 30 one in 30 and the other one gets one in 50 is it the league quality is it the conversation isn't it because like certain websites like will direct you to like certain agents so they will but think about this is we're just talking about people that got directed to you right whe whether you got them through Zillow or realtor or Remax or your any other brokerage or whatever we're talking about online leads that came to you through some kind of online marketing profile it might come through your social media like whatever right um and and there's a difference between what goes the number one factor that that I'm aware of that most people don't talk about is called speed to showing uh it measures the time from the first reach out not your first contact with them their first reach out to being in the property with you the faster you make that happen the more likely they become your client so a couple things come to mind there when somebody reaches out to you they of course reaching out to five 10 15 20 other people at the same time if you weren't aware of that um most of the websites that you get leads from send it to multiple people at the same time so when they're reaching out once it's actually being sent to five or six or 10 different people um so so there are a lot of people being put in front of a lot of different agents um and do you know that in the average person that gets put in front of 10 different agents reaches out to 10 different agents do you know how many of those agents actually respond probably less than half statistically less than one so most leads don't ever get reached out to by most of the people they reach out to and so if you to your point Victoria if you can just connect with them and get them to start a conversation with you that's the number one way to to get them moving and in this instance we're talking about getting that conversation to be in person in a property because that's what they call for right most leads and we're talking mostly about buyer leads but most buyer leads are inquiring about a property right they're not inquiring about an agent they're not inquiring about oh what's it take to buy a property or how does Real Estate work they called about one 123 Main Street and they want to go see it so you want to make that happen as quickly as possible so let's talk about the proven strategy that I know works because he implemented it and everyone I taught it to that actually used it um increased their conversion significantly uh like three and fourfold um so the first step is that get them to a showing ASAP right don't pre-approve them try to determine how real or not they are just show them the property they inquired about like get them to that property they call about 1 23 Main Street they want to go see it great I can show it to you this afternoon at 4:00 or tomorrow at 2:00 which one of those works best for you right those are those are you controlling when it happens go see the property show them the property second have other properties to show them you want to make sure that you have two to three additional properties to show them that are near the one they ask about uh lined up to show so if you they say okay we're going to see it tomorrow at 2:00 great I want to make sure I have a couple of other properties nearby that I'm going to show them that I already have lined up and the statement is is that when you're confirming the showing say you know let's plan a being together for about 30 minutes so we can see that property at One two3 Main Street because I know that you're interested in that but I also have a couple others nearby that I'd like you to see to compare against does that work for you they will almost always say yes right because one you're offering to show them properties that they are having trouble getting to shockingly which is ridiculous but it's the truth um and so two just offer to help show them and be the one that that shows them the properties very important in the process this is a key point that that kills a lot of people if I go show the property I need to not just know the properties you're showing but I need to know that area so I can answer questions so if this person's from out of town or across town or whatever they might not know anything about the area and so they might start asking you questions and you know the phrase of oh well I'm not sure um I can look that up or I can get back to with that answer so many people think that's a wonderful response I think it makes you look stupid I think if you're a professional realtor and you are showing a property in a neighborhood and somebody asks you where the nearest grocery store is and you say you have to look it up you're an idiot because you should know where the nearest grocery store is to the house that you're showing like you should have two or three of them in most parts of the the the city that we work because that's just factual information that's helpful for people that are moving to an area right um I have a whole list of of things schools parks grocery stores restaurants the best Italian place uh places of worship walking trails Transportation all of those things anything in everything if somebody says you know hey my kids play soccer do you know where the nearest soccer club is for girls or for boys or for 12 year olds or for 16 year olds right like there's just a myriad of information that you should be able to answer questions on now some of you might be thinking oh wait he said places of worship that's a fair housing violation it's not because I didn't tell them to come look at this house because it's close to a specific place of worship all I'm doing is factually answering a question that they ask me where's the nearest Catholic Church where's the nearest Orthodox synagogue where's the nearest Buddhist temple whatever right we're just asking we're just answering factual questions to them we are not saying things now this does not mean and I want to make this clear if they say oh what's the makeup of the neighborhood how many foreigners live here how many blah blah blah you know no we don't answer those questions because those are fair housing violations at that point because you're you're giving them impressions of a neighborhood that they need to determine themselves and to me the best answer to that is always well you know there's a grocery store about a half a mile that way um and I always recommend one of the best ways to get to know a neighborhood is to go to the grocery store because you will find grocery stores specialized in neighborhoods right um the grocery store down the street for me is different than the one on the other side of town and yada yada because they serve the people in the neighborhood and so for people to get a sense of what the neighborhood is like you will see all the people in the neighborhood in the grocery store um and so you can get to know them you can talk to people um you know you can determine if this is a neighborhood that you want to live in and that's a you thing not a us as a real estate agent thing um and so that's kind of the description that I give when people start going down that trail of course if they go too far down that trail we just say thanks and and move on to the next person um because we don't want to work with people that are in that situation um so that to me is a while you are meeting with them and showing them these two or three properties you want to nail them down for a buyer presentation in a brokerage agreement remember before you do The Brokerage agreement you really you can't advise them on things you give them factual information and answer questions but if they start saying things like what would you advise that we pay for this let's get together I want to do a a buyer presentation with you make sure that you we understand the buying process and of course you at this point know what their experience is are they somebody that's bought you know a dozen houses are they somebody that's never bought a house um you know those sorts of things will play into how you present that buyer presentation but I think you should always do a buyer presentation to show your value and educate the buyer on the process and make sure they understand what the process is and then of course you present them with the option of hiring you as an agent as their agent which is of course The Brokerage agreement and at that point you can start to advise them questions about this strategy none sounds good okay it works I know it works if you if you put it into practice and get it going it works every time um so make sure to meet them in the office and continue to show your professionalism and value when you're doing that buyer presentation um again in-person meetings multiple in-person meetings will get you a lot further in the process than just you know a couple phone calls or an email or a text now you might need those emails and texts to get them to connect with you initially um but once you get them going you want to try and get them in that property as soon as possible so what if they don't sign or what if they don't talk to you or what if they don't respond right and everyone you meet with or talk to should go into your CRM and get on a follow-up campaign remember over half of them are going to eventually buy so maybe now just wasn't a good time and you want to stay in front of them if you show your value and stay in touch they might come back I guarantee you if you don't stay in touch they won't right like that's the simple thing if you don't try they definitely won't work with you um so make sure that you have that campaign set up so that you're long-term following up one of the things I hear all the time is because online leads especially buyer side all I get is rental leads well statistically most renters end up buying something in the future so even if you help them rent something now assuming you're not retiring in the next you know year they probably going to end up buying something in the future and if you stay in touch with them again stay in front of them then you you will be their agent going forward so why not treat them like a buyer and show them the properties and see if you can help this is my my phrase of Victoria that we talked is unless you're too busy writing contracts and closing deals to help this is your job and you should do it mainly because others won't right especially rental leads they don't get any attention because it you know here in Atlanta rental leads pay you almost nothing right like you literally probably lose money on gas these days having to go out and show rental properties but those people that need help and no one else will talk to what do you think happens when you talk to them and you actually help them what kind of a relationship does that build with you right it's huge so make sure that they're on a longterm campaign not just a 30 60 90 day you need like a two three year plan right you need to stay in front of them long term you also need to make sure that you have flurries of activity including phone contacts related to typical lease terms right if you know that they're going to lease something and even if they don't lease something with your help they end up leasing something else or you just lose touch up with them make sure that you're following up again in nine to 10 months so that you're getting ahead of that lease renewal right make sure that you're touching base with them not just via emails and text but a phone call to try and say hey how's it going I know you guys were looking for a rental a while back um you know it's been almost a year and I was just wondering are you planning on continuing to rent the place you're in or are you planning on doing something different simple question right it's not intrusive it and it looks like you're calling them to help them because that's what you're doing and so stay in front of them and of course always ask for people that might need your help other than them right when you successfully put a tenant into a property you could say to them just like any other client he'd love to get a testimonial from you um and by the way do you know anyone else that M could use my help either renting or buying or selling a property um because that's what I do and you'd be surprised how many people you get out of that if you stay on them um so I think that's really important to stay with all right so GNA be a quick class today because this goes to the what's next start showing properties when people inquire go show properties don't try to determine if they're real or if they're whatever whatever worst case you get to go see some more properties and and learn about areas right develop that system to have the knowledge and the followup put it into action and don't ever say I can't help you because as a real estate agent I promise you're probably not as busy as you think you are and if you were actually spent more time out showing properties you would get more money it's just the way it works questions thoughts oh sounds good I I was at a point when I would get calls for people to see properties I would just basically jump in the car and go show anybody a property and then as I got busier I got away from that practice and got more into the pre making sure that they were preapproved and wasting my time and I need to get back to just hopping in the car and showing them because it's always good to see new properties and new condo buildings and use it as a learning experience and to learn the building so and and you're talking to people about real estate right like this is what we do for a living um so it's a great opportunity for that um I think that's one of the things that you know we've talked about multiple times in in this series is that when you do get busy everything that we're talking about starts to fade off right the the follow-ups the programs the calling the whatever it is that you're doing to prospect or Business Development you tend to do less of because you get busy with contracts and so it's important to remember that you need to stay focused on seeing more people the more people you see the more you'll do right and so that counts if you have somebody that says Hey I want to go see a property that's way better than Cole calling saying somebody hey are you interested in buying or selling right like at least they're showing some relatively immediate interest in going to see a property so that should move them way up the scale um all the predicted analytics in the world aren't as good as someone saying hey can I see a house like that's the number one thing right uh right all right well cool all right well that was quick and easy uh next week we'll do uh we'll do another topic and keep going and uh so hopefully we'll get you back go put this into practice and let me know how it goes sounds good have a great day all right thanks guys bye 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