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number two 75 of leads are converted in the follow-up down the road only 25 you're gonna convert on that first call the money is in the follow-up there's a reason they say that the money is in the follow-up so what we're going to talk about is how to convert real estate leads okay it could just be a lead off of your listing that you put on facebook it could be a sign call it could be any type of lead from someone you don't know okay so as long as you don't know them as opposed to like a sphere of influence lead you know those usually have different relationships with depending on how close of a acquaintance or relationship you have with them that might dictate how we follow up with them but if it's someone we don't know usually we want to systemize that approach so it's very very similar for everyone involved so talking about how to convert real estate leads into actual sales is what i'd like to do and i'd like to provide all of you with a system for that so it's something you just put on repeat it's something that can be programmed into a crm so that when a lead comes in it goes right through your funnel and process into a crn which i know many of you use those i see robin uses those i know logan is on i see uses those and i'm sure there's quite a few other on here sean or those i see on here quite a few of you guys i know use some sort of system so hopefully this will plus it or you'll find a gap that you have or a talking point you need and for those of you that are just trying to kind of wing it on converting online leads i think you'll see where you're probably following a little short on your efforts let me start with this by saying because this question always comes up inevitably so i'm going to preemptively strike it okay if you get into the realm of purchasing leads i'm going to break purchasing leads into two categories there's what i will call premium leads often referred to as portal leads which are much more expensive hence the term premium like zillow or realtor.com can cost you anywhere from 100 to 300 a lead depending on the zip code and all that kind of stuff could probably be more and those are a much higher conversion rate of a lead than the other category of lead which are called forced registration leads this is the other major category which means someone comes to a website maybe your website and you force them to register with their contact information email address phone number name for the right to look for homes for sale on your site so you force them to register to look for homes and believe it or not that works at a very high level you get lots of registrations that's not your problem it's converting the leads that are the problem even though it's shocking that people would give up contact information to look for homes in this day and age when you could just find them without doing that on zillow on realtor.com they do it like mad right robin like they do it a ton so very very common okay because they just go they're there they put in the contact information now with force registration we're talking give or take five bucks it's ten dollars a lead they're cheap with the premium leads like i said let's say uh 150 bucks a week and the difference is this on forced registration they can give you bad information just to be able to look on your site and there's no expectation that you're going to be calling them right there was a gateway in front of them they put in contact information in the gateway the gate was removed and then they looked for houses then out of nowhere in comes a phone call that they're like what the heck's this and it's you calling so they're not expecting that phone call from you so it's a much more challenging phone call than with the premium leads over on realtor.com and zillow on realtor.com and zillow they're already on the portal they're searching for homes maybe they have the app on their phone they've been searching searching searching and then you know what when they get kind of serious there's a button there that says click if you want to speak to a realtor then they click on that button then the phone call comes hey this is brian eisenhower i'm with zillow can i help you that's what i teach you to say skip your company skip your team name say you're with zillow sounds like programming huh and that's i mean that just rubs realtors right there it's hilarious but the point of the matter is that sounds like a customer service phone call doesn't that sound like customer service you requested me here i am in all likelihood it's going to be much more well received so long as we jump on that lead fast what you're going to see is absolutely crucial to converting leads speed to lead is everything without that we're dead so if you got like a lead that you saw came in this morning and you called back four hours later yeah forget about it this ain't your game speed delete matters in a big big way okay so that's why premium leads are premium leads they're 10 to 15 times more expensive but they're 10 to 15 times easier to convert because it feels like customer service when we get over into the force registration realm where people are just searching for homes and aren't asking you to call them it's a much more difficult follow-up process so out there there's like a facebook tool out there on command right now and there's lots of those social media tools out there where they market on social media understand those are gonna fall into the force registration category those people are not expecting a phone call from you so you're going to have to do a lot more work with regards to attempting to contact them and a lot more follow-up to actually turn them into a sale or a client that's okay super duper cheap but there's work there so don't think that converting online leads that you pay for is any less telephone work than calling expired listings or fsbos because it's not because people think it's a magic pill that if i just call these online leads like magically buyers are going to fly in my window no you're going to work that phone the internet has created the need for telephone calls in a big big way because it generates so many leads we got to use the phone to filter through them be perfectly honest with you the telephone is more pronounced than ever because of technology that's kind of the weird bass awkwards thing that a lot of people don't realize like i've said many times before telemarketing companies inside sales agents telephone call centers are opening up all over the world for this reason because the internet is generating so many leads that need to be followed up and converted telephonically if you want to put your money someplace you know put it in zoom and put it in amazon and put it in telemarketing or call centers i have to say amazon because i believe amazon's always watching all hail jeff bezos so the uh i'm a fan okay so we know the different types of leads now the process i'm going to talk to you about will work with either of those two whether it's portal premium leads or force registration or a sign call or any lead in general from someone we don't know i would put them through this process do you see this chart up here in the corner this talks about how we jump on an initial lead when we hear about it okay whether it comes by email whether it comes by phone or what have you you can see on this chart that people that follow up inside of five minutes have a much higher rate of making contact and having the person answer than those that wait 10 minutes look at that jump from 5 minutes to 10 minutes and then after i mean 15 25 minutes later 30 minutes 35 minutes later look what happens if you wait an hour you have almost no chance that's why speed to lead matters if you have an online lead from someone you don't know you have got to jump on it the gold standard is five minutes and there's a lot of people that are saying three minutes just because there's people that always have to say they're better than you but you know two minutes is better than five i can tell you that there's no doubt about it so we have to speed up there so if you're not prepared to do that don't go buying zillow leads don't go buying realtor.com leads because you're just gonna waste it you're gonna say the leads are terrible the leads aren't terrible your follow-up's terrible anybody you can unmute yourself if you know what movie that's from it's not the leads aren't terrible it's the leads aren't weak you're weak glenn gary glenron there it is that's the winner right there nice job phil all right there we go he got it once i said the quote correctly anytime you can use that in real estate coaching you want to try to do it the so as we move later on it is much more challenging it is much more difficult to make contact and think about this is logic right think about yourself you're online looking for something i don't care what it is you have a question about it you ask that question my attention span to receive a response to that question is really about five minutes if you wait an hour to get back to me i am on to something totally different you know what i mean like that might be playing with the kids and you call me later an hour later when i'm playing with my kids like number one i'm probably not gonna answer because i don't even see my phone it's turned off number two if i do answer i'm coming at you man i'm pissed you're a telemarketer what the heck are you doing we're not in customer service mode anymore we're past customer service and now you're a telemarketer who's interrupting my life had you called me in the first five minutes you would have gotten the nicest guy on the planet first of all i would have answered and second of all i'd be like hey thanks for getting back to me man what great service you provide whole different tone than an hour later when i'm doing something else speed to lead matters absolutely matters we can see down here at the bottom when they don't answer this is kind of some foreshadowing but you can see the number of call attempts matters too if you just call somebody one time the percentage of sales close is like at 35 but if you actually start jumping up to six to seven attempts so right up here at seven you can see we're up to 90 percent which is twice as likely more than twice as likely as if we make the first call so just because you call and they don't answer that doesn't mean we're done like we need to keep following up to chase them down and we're going to talk about how to do that next okay so we have a system for this to move fast and to continue to reach out to make that first initial contact basically we're going to break these systems down into two parts we have one system to make that initial contact and then we're going to have a second system which i'll explain after that to follow up and nurture that contact over a period of time weeks and months down the road until they're ready to buy i am now going to show you what that initial contact plan looks like okay so this is called my two-week assault plan and this is for making initial contact so a lead comes in here's what we do okay so basically the first two pages show the two-week assault plan is designed for you to work monday through friday for two weeks which is ten total business days so you will see we have what you should do on day one two three four five six seven eight nine and ten and those are your two weeks okay those are all the attempts we are going to make to try to get this lead on the phone and in general just remember this we're always trying to get them on the phone whether it's be email or text we're trying to move that to a phone call so if you're communicating digitally we're always trying to move it to a phone call don't think that we want to keep them in text or keep them in email we're trying to move them to a phone call and phone calls we're trying to move to either a zoom appointment or an in-person appointment because we need to get face-to-face whether it's zoom i'm cool or in person when the timing's right where you live whatever but we got to get face-to-face because that's going to build rapport in the relationship much more heavily than a phone and certainly you know digital text so basically what happens in comes that lead now understand i don't want you to get freaked out by this 10-day plan this 10-day plan is over-inclusive because i figure you're not going to do all of this but you could delete the things you don't want to do so it's easier to delete than it is to think of new things to add to it so i put a lot in here expecting you to not do all of this to remove some things right but day one we you know of course we got to make a call right away inside of five minutes that's number one right i should put that number one we got an intro email that should automatically go out that's the only reason that's number one a lot of you have crms where if a lead comes in that intro email fires right back with an auto reply okay so that really is going to happen first because that happens in two seconds then your intro call should be jumping on that inside of five minutes for sure if you do not get a hold of them we got a follow-up text every time we don't get a hold of a call we try text day two more emails more texts we've got a video email in here which is very very useful if you send video email a lot of you guys will use bombbomb or other video email services in those videos i love it when they see your face and then they click on the button that makes your face talk so it's really good for them to see your face understand that nothing builds rapport more than putting a face with the voice they start to see you're a real person you're not going to run off with like their credit card info or anything like cause you're from zimbabwe or something like we want to make sure that they see you they hear you they can actually build rapport with you that does work over time so then there's you know we send them a free cma i'll let you guys read through this later we can send an open to show email we can send them some properties that meet their criteria if they fill out their search criteria on your website you'll see what that is you're gonna see all the texts and emails that we reference here like on day five it says sunday how am i doing email well the how am i doing email is down below or send the day five still interested text we show that down below and if you scroll down below you can see here's all the phone call scripts that are referenced up in the plan above all the text scripts are referenced above are shown down below all of the email template scripts that i reference in the plan above here's the text for every single one of them it was all done for you just pick the ones you want that's awesome video email if you want to shoot some video email hear the scripts just read them into the video you're good to go facebook and social media message if we're going to try to hit them that way on facebook or social media with personal direct messages here's some scripts for those all different ways now you see why i call it a two-week assault plan it's because it's aggressive man it's like a monster truck rally we're getting after it lead comes in everything we got's jumping on and this is all to make first contact so whether you make first contact on day one or day 10 that's the goal once we make contact we are now done with the first half of our lead conversion system if we do not make contact typically they will go into some slow drip category in our crm that maybe just sends them listing e-alert emails and maybe some sort of random templated email every month and if you ever need extra leads you go dial in for dollars through that group in your crm but hopefully that doesn't happen and hopefully on day one through 10 somewhere in here we make contact so when we make contact at that point in time what we are trying to do is ascertain on that phone call how soon they want to move so that's what we're trying to do on that phone call now i have tons of scripts and ways to do this okay so i want to show you the next thing so now we're moving into phase two we get on the phone call and we're gonna talk to them now again not every leads a zillow lead so this might actually they may not be ready to like sign up with you what we're trying to ascertain on that phone call is how soon and how urgent they are about moving this actually talks about how many contacts and a contact means is not an attempt that means you call they answer you speak okay that's the definition of a contact we are in communication it could be a real quick phone call like i don't have time for you right now click that's okay you said something they said something that counts as a contact so believe it or not them blowing you off on the phone is getting closer to where we want to go if that makes you feel better that does happen anyone that's converted me online has gotten through some seriously angry phone calls until i actually was like you know what yeah let's go ahead and move forward i'm not real polite up until that point but you stick with me out you know you're going to get someone who wants to pull the trigger so you can see contact one 50 percent of all sales people this is even outside of real estate give up if they don't get the sale or the client on the first call i would say in real estate ninety percent of people give up after that first call this comes out of a b2b conference survey contact number two 65 percent of people give up after that 79 give up after the third 89 of salespeople have given up on the fourth contest and you're gonna start to see some people it says you harvest the low-hanging fruit because that is true at that point in time we start to see it contact number five you really become a factor in your prospect's mind like you've actually built rapport because they've heard from you five times like you have a relationship of some sort when we start getting up to the fourth and the fifth contact contact number six they're getting to know us we actually have a positive it's a nurturing relationship now we're not aggressively prospecting we're actually nurturing the lead now they're actually getting in there contact seven top of mind awareness contact number eight you're probably the only person to ever contact them eight times for anything ever contact number nine if if you can call them nine times and they answer they're yours man ninety percent chance they're going to call you for something soon the more contacts you make the better you are with an online lead and this is what people don't get the idea of nurturing leads is where they miss out this is not calling one person if you call a force registration lead understand they just gave you contact information to be able to search on your site they're just starting the search process we as realtors have never gotten leads that early in the process before ever before the internet the only time we got a lead was when they called us with forge registration we're being made aware of them six months prior to that and we expect them to act like six months later at that point they're like whoa i'm just looking easy buddy i'm just looking so our need has to be like hey we're here to help you look because lord knows they don't know this but they really need us to help them look because people that don't have a real estate license are freaking morons and they need our help like literally they want to get inside houses they can't even afford to buy i'm joking about the pit but you get it they don't have our process like they're just randomly looking they're not even set up on listing e alerts right you know so they don't know when new listings come up heck they're probably looking on zillow which means they don't realize half those houses have sold already so they don't know these things that we know so don't sell yourself short we can help them with their search we can help them with their i'm just looking attitude we can help them look until they're ready so that means whether that means we're going to be making all these contacts over six months to a year sometimes that's what it takes to nurture leads over time but that's hard i mean how many of you guys other than the people i mentioned early on can handle this many leads coming in and remember to keep calling them every month to just kind of touch base and see if we can add value because we now talk to them over the phone and when we speak to them over the phone we need to know how frequently we should call them how urgent they are how long we're going to need to call them so to do that what we need to do on that very first phone call after they come in through our two-week assault plan whether it's day one or day 10 at some point we are going to speak to them and whenever it is we speak to them we are going to try to ascertain their degree of urgency and i'm going to show you what that looks like the degree of urgency i break it down into four categories some break it down into two categories and these are our lead nurturing follow-up campaigns and if we zoom in on them here a little bit you can see our first category are our a leads our hot leads you can call them whatever you want different crms call them different names too i'm gonna call them a leads these are the people that plan to move inside of a month like if you show me the house i'm on it we're ready to go we need a house or we're ready we just can't find the right house lord knows we get a lot of that right now so these are hot leads because if you show them the right house they want to get inside it that means they want to meet face to face anytime we can meet face to face that is moving them forward so this plan is designed hey we didn't know them we made contact now we want to see how soon we're going to be able to meet them face to face and that's based upon how quickly they want to move if they say they want to move fast then they're an a lead in the first 30 days now the first rule of thumb though is whatever time frame they give you cut it in half so if they say you know i want to move by the end of the year so five months we cut that in half and make it two and a half months which is 75 days which actually makes them a b lead because b leads plan to move in 30 to 90 days an a lead if we put someone in the a lead category your crm is going to be telling you to call them probably twice a week maybe more there's going to be a lot more emails going out because we're going to want you to have much more frequent attempts to build rapport quickly because they possibly have already talked to other agents they want to go fast they're going to be more receptive to your communication so you're not going to be dogging them you're going to be matching their urgency and showing that you're really working for them there's a lot of agents who just are afraid to bother people they don't want to bug people and if they have a hard time converting a leads because a leads want to be bugged they want an agent that shows them that they can work it's aggressive because when you're in a lead category you're in a hurry you have urgency so you have to match that urgency with a lot of attempts to contact to show you're really working and the more listings you get in front of them the more questions you try to help them with the more issues you try to have them overcome you're going to see that they're going to appreciate that and they're going to become indebted to you and and that and they're going to they're going to feel the need to use you and they're going to feel like you give them the best service so b leads or warm leads 30 to 90 days c leads even less frequent communication right that's going to be much less your action plan is going to tell you to reach out and call them maybe every two weeks maybe even every three weeks and we stay in contact until we start to learn their urgency increases and we can move them up to a b or even an a lead and then we increase the frequency we move them into our a-lead category and our crm which is going to give us a lot more daily tasks or daily to do's if we have a lot of a leads we're gonna have lots of daily to do's it's gonna be telling me to call people all the time usually we have a mix of a b c a lot of people just do a b and c leads i go into a d lead that means they want to move in nine to eighteen months so it's going to be a lot less frequent i figure i don't have them in there it's a lot less frequent contact because i mean even if someone tells you they want to move in a year and a half it's not unheard of to hear that they bought a house like a month later quite frequently my way you're going to get a lot more money for your leads because i'm creating a lot more so when someone says man you're getting 10 leads a month doesn't sound like a lot you got to realize we're going to try to contact each one of those in a two-week assault plan and then we're going to nurture them over the period of the next year with these plans suddenly that's a lot of calls for just 10 leads a month and if you get 10 leads a month the next month you're getting 10 more the next month you're getting 10 more the next month you're getting 10 more that's 40 leads 42 week assault plans 40 ab all these follow-ups through your a b and c categories those leads will go a long way now if what you're doing is doing what or you're letting people on your real estate team do what i call a cherry pick that means they're just calling all the leads once and not doing any of the follow-up and that's horrible for everyone involved because a waste of money number one number two 75 of leads are converted in the follow-up down the road only 25 you're gonna convert on that first call and that's usually going to come from you know really expensive leads like zillow where they're asking you to call because they want to go see a property so to get your money's worth we need to do that the money is in the follow-up there's a reason they say that the money is in the follow but yeah so that's the idea so as leads come through now again these plans are intended to be set up in a crm and you'll find most crms have these plans kind of closely set up already oftentimes the two-week assault plan it's going to be referred to as a 10 days of pain 10 days two-week assault plan or you know initial lead initial contact plan so look for it and then you could just tweak it because they'll all let you customize them some of my ideas in the two-week assault plan and then if you look at the lead follow-up categories the a b c and d they might be you know hot warm cold whatever nurture watch drip look for them but they usually have a few different categories because these are not things i made up these are proven and tested models that the top producing teams in north america use and they work at a very high level so if you're going to buy leads as a solo agent if you're going to convert leads that are not bought organic leads as a solo agent we use this you're going to do it on a team this is how you should be working if you have a team this is what you'd be implementing if you're hiring an isa this is what we're training them to do there's a lot more to it we want to have scoreboards and tracking and how we track all this is a whole different animal we can show you that as well but these are the systems we have to have in place if we're going to convert online leads without a doubt now the next thing i'm going to show you so this is my script book okay and here's a table of contents so it's going to give you a lot of scripts for nurturing texts it's going to give your internet lead phone scripts so first contact online registration when they inquire about a specific property and they just want more info about a property when they say they're just looking the hot warm cold leads we talked about follow-up lead transferring so for transferring the lead from an inside sales agent to an outside sales agents your qualifying questions which are very very important and our objection handlers and then we're going to go into our internet lead email scripts a lot more of those as well too so all of these scripts and templates for texts phone calls and emails are in this booklet which i'm going to give to all of you so as we scroll down you can start to see here's our text scripts this was actually i stole this from inman news and i've used it for a while now a lot of times we're using a text to revive somebody right they're not answering our phone call so we're texting them and we're hoping for a reply and if they reply we have revived the relationship so you can see certain of these have a different reply rates new search sign up everyone wants a deal mentioning a specific day of the week to show that it's live you know different reply rates for each of these in order of preference then we jump into our phone scripts and these are scripts for when they first make their online registration there's like two or three different online registrations when they have a question about a specific property there's a couple scripts for that when they want more info how we provide it to them and i'm going to scroll through all these because i went over them in the table of contents until we get to my favorite which is page 13 and these are called qualifying questions some of you have been in the business for a while probably heard of lp mama and lp mama started way back in the day when we had sign calls and people had floor time they'd sit and income a lead and they'd have like an lp mama sheet in front of you and you just got a phone and you try to turn those sign calls into your clients well it's lived on and it's used very at a very high level in internet now i i will say when you know for those of you that have been coached by zillow they'll tell you to not do lpmoma and they'll just say jump in your car and go show the property and the reason for that is because zillow really cares about zillow you know they don't care so much about your your time management and your personal life they want you to convert their lead so that will work and there are times when you need to do that true but i prefer you try to set a buyer consult before you do that especially nowadays because now that buyer console should be done on zoom so it's so easy to turn a phone call just by texting them a link and turning it into this a buyer console it has never been easier so now more than ever man please make sure you can see who you're talking to make sure it's safe make sure you don't waste your time so try to set a buyer console before you hop in your car not to mention you're going to learn more about them because you're going to ask questions that are called lp mama see that here and that's location price motivation whether they're working with another agent their mortgage and then of course we're going to try to set the appointment which in this case is going to be a zoom call because on a buyer lead we always are going to set that to a zoom call in-person buyer consults unless you've got a senior citizen man i just wouldn't do it you just don't have that kind of time not only is it politically correct now you know it's showing you're socially responsible and it saves your time go to zoom go to zoom here's a bunch of ways you can ask the location question the price question the motivation question different ways to ask the working with another agent question the mortgage question and the appointment transition question you ask those questions that should be enough for us to determine whether that's an a b c or d lead with those scripts that should be enough now we can fill out the entire buyer lead sheet with all those buyer questionnaire questions that's fine too lp mama's built into a buyer lead sheet or you can just go off lp mama there are many agents that just have lp mom on their head and they just they remember to keep if you don't know what question asks just think of lp what price you're looking for great how soon do you want to move motivation do you have a mortgage you know mortgage all the questions you need are right there so it's really easy it's a quick way to stay in curiosity and keep them on the phone very quick way of doing that that is a crash course man that is really moving through online lead conversion the entire system so that's as fast as it gets right there thoughts brian do you have anything for let's say you've got your your two week assault and you do get contact uh let's say they on day five you reach out to them they connect with you and they they give you the verbiage that okay i i'm not interested today you know i'll be moving in six months a program that you put them into that drips on them in addition to what you what you put in the the chat here actually what i put in the chat will work because if they say six months i'm going to cut it in half and that's three months which means you're going to be a b lead so you're going to be a b lead in my follow-up campaign okay makes sense i mean the only time i'm going to not fit you in my category is if you say i want to buy in five years you know because i cut that and happens two and a half years and you don't fit in my campaign categories so i don't know what i do with you there's a campaign for that too brian yeah there it is it's just like a completely set it and forget it isn't it yep yeah yeah i had to make it yeah that's that's like the my d category it means you're just going to get a bunch of emails and if you ever bring on a new agent on your team you have them call those leads just kidding but that's that's what smart plans in command are great for there you go yeah that's right so you just set it and forget it and hope they raise their hand someday and and need some help and they think you've been nurturing you know i love listing e-alerts for that because for some reason people think you're really sending those emails you know with each listing like you're looking out for them they become obligated to you