Categories
Case Studies On Marketing Strategy

“I’ve gotten more clients out of address only submissions”

Gina Wade holds the key to address only submissions.

In a recent webinar, Gina explained that she has gotten more clients out of address only submissions that she has from a lead with an email address or phone number.

Crazy, right? Traditionally, these are harder to come by, and a lot harder to nurture…but Gina seems to have the system down pat. So the real questions is…how does she do it?

I had the pleasure of chatting with Gina about this system, which she completely deconstructed for everyone to learn. Address submissions are hard to master, take a bit longer and can often not yield the best results. But Gina swears by them, even saying that she’s “old school with address only submissions. I’ve gotten more clients from addresses than I have from anything else.”

Let’s jump into her process and see what techniques you can add to your business, to make sure you’re getting more clients from address submissions.

When an address submission comes in

When Gina initially has a lead come in, she organizes it in a few different ways. She’ll, first of all, provide the lead with an abbreviated CMA so she can give them an approximate home value. Gina mentioned that this document is usually a few pages, and includes all the information they would need to sell – just not an exact value.

From here, Gina makes sure to send the letter with a nice stamp, and in a hand-addressed envelope. Gina mentioned during our conversation that she loves adding fun, and attractive qualities to her letters because it’s more enticing for people to open. She also admitted that its a lot more fun for her!

pexels-photo-261599

Address Submission Follow up

After the initial letter is sent, Gina told us that she waits a total of 90 days before sending an additional letter. We chatted about the importance of giving you leads enough time between your first and second contact, as you want to be remembered, without adding pressure to the conversation.

In this second letter, Gina makes sure to provide her lead with just enough information to want, or need to follow up. This means she’ll ask if they have any questions, if they require any more information, and finishes it off by reminding them that right now is, in fact, the best time for them to sell.

The second letter can be in any style you choose, as this letter doesn’t need to follow any specific format. The purpose of this letter is to reach back out and re-open that line of communication and curiosity. Gina still feels as though using attractive stamps, and a hand-addressed envelope goes a long way – so these are things you can play around with!

For more information, and an example of Gina’s follow up system – click on the link below and download your personal template!

Gina Wade – Follow up letter

Important things to remember

Address submissions are difficult, yes. Even Gina mentioned during our conversation that most of the time, she doesn’t even get an email or phone number from these submissions.

However, Gina is getting roughly 50-100 Address submissions a week, which means that she could have upward to 400 letters sent out in one month.

With that in mind, take a moment to think about how many people out of those 400 will likely contact her back. If you’re dedicated to your practice and put in the time to create and send handwritten letters – the Real Estate Goddesses will reward you with full contacts.

Each of these methods has been proven to work for Gina and can be adapted to your business plan, and style. We recommend whenever downloading documents and systems, to test them out for yourself and change them to best fit your personal voice. Implementing someone else’s methods directly into your follow up structure may not work as well for you, as it did for them.

It’s important to remember to test these and make sure you find the right algorithm for yourself.

To test your market, and to learn more about the many education platforms StreetText has, book a demo with us now! If you wanted to watch Gina Wades Webinar in full, click here to watch it!

CTA Blog Button

Categories
Case Studies Interviews On Marketing

“I’ve already doubled my deals from last year”

In just six months, Dave has already doubled his Real Estate deals from last year.

Dave Ehlke is a real estate agent in the Minnesota area, Forest Lake to be exact. He’s a husband, and father of two who left his job in corporate America to follow his dream of working in real estate. Fast Forward three years later, and Dave is already rising to the top of the real estate world.

He had success early on in real estate, but was having a challenge growing his business beyond the plateau of repeats and referrals.

12993619_10206237530553740_1834602712926219096_n
Real StreetText client, Dave Ehlke, RE/MAX Results – Forest Lake, Minnesota

Online lead generation was important to Dave, but it turned out to be more difficult to “crack the code” than he anticipated.

Before he started with StreetText, half of his problem was not being able to find the right Facebooks ads and algorithms to keeping leads coming in. Now, StreetText does it all for him, which means monitoring ads is something he no longer has to do.

Dave Ehlke has been with StreetText for over a year and is seeing tremendous results in his target areas through his Facebook lead generation.

Dave values time with his family. Because Dave has a busy work schedule and is devoted to his family – StreetText helped him take his online lead generation off his plate.

Dave shared his mind set, “If I need to get out 100 letters, I won’t do anything else until they’re done.” He’s dedicated to his practice and takes time to finish everything because every detail is important to his success.

StreetText is giving him time to focus on the activities that generate business and serving his clients. For Dave, nothing else happens until his important tasks are taken care of. Dave has a deep-rooted drive to succeed and will do just about anything to make sure he’s on the path to success. Now when his follow up is done, he feels good knowing he can go home to his family while his lead generation is taken care of.

Now, Dave is closing several deals a month. These are single family homes starting at $225,000 – $270,000. Dave is growing an exceptional amount in his area.

Dave Ehlke, RE/MAX Results – Forest Lake, Minnesota

I asked Dave how he is converting his leads into transactions? Dave explained that he immediately dissects each leads that he gets through StreetText.

He shared that in order for him to approach the lead properly, he does an extensive amount of research into who they are, what they do, and where they live. Dave wants to know everything he can to make sure he’s providing his leads with what they need to list their home, and potentially purchase another.

After he gets their information, they’re instantly set up on a monthly postcard campaign. He’s also regular with door hanger campaigns for address submissions, where his 10 and 12 year olds bring around coffee cards and other small promotions to make sure people are remembering him.

Dave put a lot of importance on providing value and keeping these promotional items local. Giving someone a gift card to their favorite bakery is going to be leaps and bounds more valuable than sending them to a Starbucks.

During our 30 minute conversation, I could tell that Dave had a very strong sense of community. He is a father of two, working to better his family, and helping as many as possible in his area. Knowing his community is a huge part of who he is as a realtor because he’s a working professional – but he’s devoted to being a part of his leads life and affecting them in a positive manner.

Dave-6
Real StreetText client, Dave Ehlke, RE/MAX Results – Forest Lake, Minnesota

Not only does Dave work hard to help each of his leads, he works extremely hard on personal goals that he targets on a daily, weekly, monthly and quarterly basis. He mentioned during our conversation that these are important for him to keeping on track and reaching all of the benchmarks be wants to obtain professionally and personally.

Dave mentioned that StreetText helps him take his business to the next level to reach his professional goals.

A lot of people are really focused on the sale, which is important to Dave… but he brings a very humanistic quality to the industry. His professionalism, mixed with his desire to make lasting connections makes him a natural in the real estate world.

His ads are relevant and getting great clicks, so there’s nothing else to worry about. He also mentioned that it’s his most affordable form of marketing, and he is excited for what else will come with his time with StreetText.

My final question to Dave was one that often leaves our realtors a little perplexed. I braced him for the obscurity of the question, and asked: “If you had the opportunity to turn back the clock, and give yourself one piece of advice from when you first started off in real estate, what would you tell yourself?”

Dave paused for a moment and replied with a confident statement.

“Keep doing you, and keep focusing on yourself.” Dave added that if he could, he’d explain to his past self that this industry is a roller coaster but to keep trusting in himself, and keep moving forward. He returned to the personal development, and personal growth he works so hard towards. Keeping himself focused and grounded would have been the best piece of advice he would have given himself when first starting. Have you ever thought about what yours would be?

To learn more, click on the button below and chat with one of our Facebook conversion specialists!

CTA Blog Button

Categories
On Marketing Tutorials

A Walkthrough: Email Parsing and app Integration with StreetText

We want to set you up for success, so here’s a walkthrough of how to connect your StreetText account with other applications, and email parsing to apps such as Five Street and similar applications!

Follow the steps below to connect Five Street with StreetText:

1. Login to your StreetText account

Screen Shot 2017-05-24 at 1.52.36 PM

 

 

 

 

 

 

 


2. Once here, click on the settings gear on the left-hand side of the screen
Screen Shot 2017-05-24 at 1.41.15 PM

 

 

 

 

 

 

 

 

 


3. This will take you to another ‘Settings’ tab, ‘Pipeline’ tab as well as ‘Tags’ tab.
Screen Shot 2017-05-24 at 1.41.31 PM

 

 

 

 

 

 

 


4. Once you’re in this section, click on the Settings icon again.

5. After, a drop down will appear that will include an ‘integration’ tab. Click on this tab to continue.
Screen Shot 2017-05-24 at 1.41.53 PM

 

 

 

 

 

 


6. Once you’re in the integration section, you’ll want to put in your Five Street email in the designated email section
Screen Shot 2017-05-24 at 1.42.06 PM

 

 

 

 

 

 

 


7. From here you’ll want to make sure the format is set to default

As always, if you have any questions please comment below! For more examples of best practices, and exceptional lead generation, book a demo with us now!

CTA Blog Button

Categories
On Marketing On Motivation

Are you a leader?

Leader
Are you paving the way?

 

Working in Real Estate requires you to be good with people, and to be a good communicator. But have you ever considered the importance of being a strong leader, and how it may help your brand?

Leadership no longer just pertains to CEO’s and top management and should be something you consider implementing in your day to day for a variety of different reasons. Simon Sinek says in a popular TED talk that “A good leader should make you feel safe.” As humans, we have an instinctual need to feel safe in our surroundings. Whether this is in our home life or work, we’ll always make choices that allude safety.

So with this in mind, and when considering your leads, why would you want them to feel anything other than safe when they connect with you? This is where leadership comes into play. There are some key things to remember when being a good trustworthy leader. Let’s see how many you have.

The First: Being able to communicate

Being a good communicator is huge when it comes to making connections and building a strong foundation to being a good leader. The more clear, and present you are when communicating, the more people will trust what you’re saying and trust you have good intentions. It’s also important to provide people with eye contact while listening. Eye contact is one of the first steps to gaining trust and projects confidence. Looking someone in the eye instead of a shifty unstable glance will establish a stable foundation, one that forms confidence and trust.

The Second: Be true to your word

If I tell you I’m going to provide you with something and back out at the last minute, will your trust in me be tainted? Being authentic with your word, and following through is important when becoming a strong leader. Your leads are reaching out because they need someone to guide them through one of the biggest steps in their lives. To keep building that trust and safety, it’s important for you to be transparent and real with what you’re communicating to leads. Don’t overpromise anything and keep a close track of the information you’re providing your leads.

The Third: Be authentic and confident

Find your voice and be authentic to who you are as a person. People will be more willing to interact and connect with someone who’s authentic and real, rather than someone who builds connections off of a fake persona. This will be based on your morals, values, beliefs and the traits that make you authentically who you are. Your leads will trust you more if they understand who you are, and what you stand for as an individual.

The Fourth: Being positive

It sounds simple I know, but positivity goes a long way when building trust and exuding leadership. When all seems lost, and things are looking rough, having a positive direction and outlook will make your leads feel comforted, and cared for. People often lose positive outlooks on a situation, but taking the time to point out the silver linings in a scenario will make them feel more comfortable. Lastly, be encouraging. Offer someone advice, guidance, or even feedback on a situation. This will help build a strong trusting relationship.

The Fifth: Be funny!

Humor is comforting. Break the ice, tell a joke, or tell your leads a funny story. Making connections with humor makes people so much more approachable and neutral. People can often be so professional that they become hard to connect with, so finding a balance between professionalism and humor is a very valuable trait to share with your leads. You don’t by any means have to be on call 24/7, but make yourself someone people can rely on for a contact. When you make yourself more open and available for contacts, you’re making your leads feel of value, and that they’re the most important person at that time. Making yourself available is the best way to build loyalty with your leads.

It’s important to provide your leads with everything they need while they’re looking at listing their home. Often times, they don’t have a lot of insight on the market or industry, so it’s up to you to lead them through this process. These traits not only enhance your leadership skills, they motivate, create insightful moments for the people around you, and guide your team and community towards success. Consider adopting some of these traits, or even enhancing some to make sure you’re the best leader you can be. We have here at StreetText, which means now it’s up to you to continue leading the way.

Categories
On Marketing

We’re growing!

Our team is expanding, and we want to say hello! Here is a little insight into who we are at StreetText, and why we love what we do. We’re a growing team, devoted to starting meaningful conversations, and embracing our inner superheroes!

pexels-photo-57851
We’re growing! Read about our expanding team below

11415472_10152888655155848_5310130678946197514_o 12540555_10153206547831644_6827556002827126999_n 4db6e998f35ceeb7e174c3fe3ffe250d Screen Shot 2017-04-28 at 9.49.09 AM 17499256_104078643469515_8788061442302381049_n 14068187_170215500076193_5715680448486918244_n 12801500_140348849688117_5514808414806840164_n 10620736_564707283657458_6819287608247491065_n

Jonathan Whiting – Co-Founder

Alter ego: Superman

Jonathan is the co-founder of StreetText, and began growing the company with his brother Stephen and friend Art Bosma in 2009. From launch, things have been exciting and consistently building. Jonathan and Stephen had a big vision to create a cross-channel tool that introduced users to their potential customer first. In 2013, StreetText first started creating automated posts to Facebook. The growth continued when StreetText enabled users to post to YouTube, Twitter, LinkedIn, and Kijiji. From those, Facebook showed the most promise.

Fast forward 6 months and StreetText was experimenting with boosted posts to Facebook. We tried different content types with little luck at first, until things clicked – Our first Facebook Ad client started seeing a huge response to his posts. It wasn’t long before StreetText had clients signing up from across Canada, and then the US the following year. Facebook was proving to be a much better opportunity than all previous channels combined. Soon StreetText’s Facebook lead capture product (Lead Magnet) overtook their other offerings. The decision was easy – Lead Magnet became StreetText’s sole focus.

On a more personal note

Jonathan and Stephen are both South African-born Canadians. Jonathan Inherited an interest in computing and electrical tinkery at an early age from his father, who is a believer in win-win economics. This interest eventually directed him towards web development. Jonathan also loves anything with a bit of adventure, and won’t hesitate when it comes to traveling, skiing, and cycling.


Stephen Whiting – Co-Founder 

Alter ego: Ironman

Stephen is the co-founder of StreetText, and began growing the company with his brother Jonathan and Art Bosma in 2009. Stephen has a wealth of knowledge from his Real Estate background, which allowed him to have incredible insight on what agents need to succeed. During this time, he further realized that agents have to wear many hats to succeed in the Real Estate world. What seemed clear to Stephen was that agents got into the business because they loved connecting with people, and helping others through some of the biggest decisions of their lives. What he noticed they didn’t love was spending time trying to figure out how to get in front of the great people in their community. This realization then became the beginnings of StreetText, as a way to helping great agents find and start the conversation with new leads.

Stephen’s position gives him an opportunity to meet regularly with StreetText’s great clients, and to work closely with our growing team. He spends his time enhancing the product and experience for our clients and the leads they generate through StreetText.

On a more personal note

When Stephen is not in the office, he loves listening to audiobooks and doing anything outdoors with his family, especially if it includes a view.


Jordan Scheer – Client Account & Facebook Ad Wizard

Alter ego: Catwoman

Jordan has been a part of the StreetText team for 3 years. Jordan initially started as the CHRP girl and would spend most of her days setting up listings for the “Canadian Home Renovation Program” for our Mortgage Broker and Realtor clients. After a few months, she slowly transitioned into a support role when our client database continued to grow. In 2015, StreetText introduced a new tool for our clients and Jordan became eager to learn more about Facebook advertising. Now, she spends her days setting up Facebook advertisements, making sure client accounts are ready to rock post sign up, and answers all calls through the StreetText support line.

Jordan graduated high school at 16 in Manchester U.K. and was on her way to becoming an accountant when she decided to move to Canada. Shortly after high school, she was approached by a sales representative for a new condo development company in Kelowna. This is where her love for Real Estate began.

On a more personal note

Jordan has a phobia of frogs, she doesn’t drink coffee or tea, she loves photography, and likes going to the gym…(sometimes).


Markus Willard – Lead Specialist & Facebook lead Generation

Alter ego: Captain America

Markus has been with StreetText for just over two years and is a very familiar voice to most of you. Markus knows 2 things very well: Facebook Lead Generation and Facebook Lead Conversion. If you’re looking for an abundant supply of listing and buyer leads and someone who can get you results in less than 7 days you’re talking to the right person. Let’s start a conversation. He’ll show you in 5 minutes how you can add a dozen more transactions in the next 12 months!

On a more personal note

Markus has two little boys at home, adventurous and outgoing, much like him and his wife. He is originally from California, which means he has settled in nicely in the “California” of Canada, Kelowna. In his spare time, Markus loves CrossFit training, keeping active and focusing on nutrition. Markus has also been on the Price is Right, as well as the Jeff Probst Show, which makes him quite the Celebrity figure.


Angela Miller-Kolp – Office Administrator

Alter ego: Wonder woman

Angela has been working with StreetText since 2011, which makes her one of the team veterans! Angela does a number of things with StreetText, but you might know her best from hearing her lovely voice on administrative calls, as well as occasionally on our support line.

On a more personal note

Angela was born and raised in Northern British Columbia and moved to Jasper where she met and married her Husband. She has been residing in Kelowna for the last 18 years. Angela has a son who is soon to be graduating High School and belongs to the Kelowna Pipe Band Society where she Highland Dances.


Logan Prest – Inside Sales

Alter ego: Hulk

Logan is a former realtor and brings years of first-hand industry knowledge and experience to the team.  Active in the community, Logan volunteers his time coaching his son’s local baseball team and organizing fundraising events. Logan loves being active and participating in any sporting event. Logan even dedicates every evening of his week to playing a different sport in local leagues!

On a more personal note:

In his spare time, Logan enjoys hiking, camping, playing baseball and hockey, which means Kelowna has everything he needs to stay fit and entertained! Logan has an 8-year-old son, who is following his dad’s love for sports. Logan keeps it Canadian with his favourite teams, which include the Toronto Blue Jays, and the Vancouver Canucks. Logan also has a fear of snakes, which is a downfall in Kelowna’s desert climate.


Nick Prouten – Inside Sales

Alter ego: Batman

Known for being a globetrotting salesman for the forces of good, Nick began his career orchestrating deals with some of Silicon Valley’s biggest tech companies and is excited to bring his diverse background of experience to the StreetText Team. Nick worked as a Real Estate assistant, and in recent years began his venture towards obtaining his Real Estate license.

On a more personal note

Nick lives on a hobby farm with bees, loves going to the gym, and initially moved to Kelowna from Vancouver, BC. Nick has done a healthy amount of traveling, spending time in San Francisco, as well as other parts of the world. Nick has also spent time studying fine arts, specializing in painting and creative development. When not binge watching Netflix, Nick can be found painting or enjoying Kelowna’s active lifestyle in just about any season.


Elysse Bujold – Marketing

Alter ego: Scarlet-Witch

Elysse has been living in British Columbia for the last 10 years and plans on sticking around for a while. After finishing her degree from the University of British Columbia, she began her career working in online and mobile gaming and fell in love with the world of tech. Elysse is excited about being with StreetText, diving into writing and letting everyone know about our mission and our desire to start meaningful conversations.

On a more personal note

Elysse is very active at the gym, hikes most weekends, and loves spending time with her friends or hunting for new vinyl for her collection. She loves adventuring and touring around to new destinations in British Columbia. She has a degree in photography, loves cinema, and theatre. Elysse hates spiders and prides herself on knowing all the words to Don McLean’s American Pie.


That’s us!

We’re a team passionate about starting meaningful conversations. We are focused on sharing our knowledge, educating, and bringing you exactly what you need to meet prospective clients. StreetText is where the conversation and connecting starts, so let’s start chatting. Leave a comment and say hello! We’ve told you a bit about ourselves…now it’s your turn.

Categories
On Marketing On Real Estate

The complete overview of lead generation for Real Estate Agents

A picture of a real estate listing from real estate lead generationSince 2008 I’ve had the pleasure of working with Realtors to generate leads. We’ve successfully generated hundreds of thousands of lead inquiries for clients at StreetText. I’ve learned that every Realtor’s business is different and the types of campaigns that work for them are different as well. Yet, no matter where the source of your lead generation, there are 4 key aspects to lead generation that need to be understood by all agents for them to be successful at lead generation.

The 4 key aspects to successful real estate lead generation strategies

They are as follows: knowing what to track, understanding the stages of a lead, knowing what makes a good lead, and how to replicate success.

Knowing what to track

Tracking is all about transparency. The more information you have at your fingertips the better informed you will be when making decisions about where to spend your advertising dollars, both offline and online.

Helpful information to track:

  • The click through rate
  • The cost per lead
  • The cost per conversion
  • Type of advertising or promotion you employed
  • The kind of people you attracted through each campaign
  • How your conversations with these people went
  • The areas of town they came from

Track these things and you will have such a strong understanding of your real estate business. You’ll not only have more conversations, you’ll save time, effort and money in the process.

Understanding the stages of a lead

There are two types of stages to understand with lead generation. The first is the Real Estate Pipeline (Real Estate Funnel) and the second is the Lead Sales Cycle. Now you are likely familiar with the first model, but understanding them both, and knowing where your leads are in the process, is essential to converting a lead.

#1 Real Estate Funnel:

A person moves from one step to the next down the funnel. Sometimes people stop at a stage, more backwards, or opt themselves out along the way. In the funnel below I’ve added Referral as a the second last step as it is so important to advancing a real estate business.

  • Suspects
  • Prospects
  • Leads
  • Clients
  • Closings
  • Referral
  • Repeat Client

“Clearly it would be better to deal with fewer leads for the same result. That said, what this business has shown me as the most successful and quickest way to a closed transaction are, in order: repeat client, personal referral, referral from another agent, lead program.” Greg Mona RE/Max Scottsdale, AZ

What’s the difference between a Suspect, Prospect and a Lead:

Suspects: Everyone in your target market

Prospects: Everyone who as shown interest in an area that you can help them with

Leads: People who have engaged you directly or made an inquiry.

#2 Real Estate Lead Sales Cycle:

  • Interest Stage
  • Qualified Stage
  • Appointment Stage
  • Contract/Client Stage

It’s important to know what stage your lead is in, a mistake a lot of agents make is treating all leads the same.

Knowing what stage your lead is in will enable you convert more leads as you will be able to send information that is relevant to their needs. This will save you a lot of time and help you convert 80% more clients from your existing leads.

Stage 1: The Interest Stage

A lead goes through peaks and valleys of interest. If you follow this blog, you will know that I’ve written about this in the past, but essentially what this means is that a lead goes from being ready to talk to an agent one minute, to being distracted by life’s other priorities the next. Often agents discount these people as “bad leads” because they tried contacting them and they weren’t interested. However, as experienced agents have discovered, these are not disqualified leads, but rather they are in the Interest stage.

When a lead is in the Interest stage add them to a drip-marketing list. If they are a potential buyer keep them informed of new inventory in your market. Eventually they will move to stage 2. Qualified.

Stage 2: The Qualified Stage

A Qualified lead is somebody that has asked for information directly from you, completed a form or shown a high level of intention. It is very important to establish a real conversation with Qualified leads to build trust and rapport.

Many Top Producers are great at this step and do everything they can to get qualified leads on the phone to establish a friendly conversation and to determine the needs of the lead. This will enable you to provide more useful follow-up material with this lead and to book an appointment.

Stage 3: The Appointment Stage

Leads in the Appointment stage are considered Hot Leads. These are people who are within 4 weeks of listing or buying. They are ready to meet with a Realtor and are happy to discuss their needs in person. Interest Leads will eventually become Appointment Leads with consistent weekly drip-emails and follow up.

Stage 4: Contract/Client Stage

Finally, your leads will convert to the final stage and be ready to become your Client or even sign a contract. The time between the Appointment Stage and the Client Stage can be as little as a few hours.

Knowing what makes a good lead

Whether they came through an email, print, sms or social media campaign they all have the potential of being good leads. But what is it that makes a lead good or bad?

We released a study that followed 5000 leads generated for a large brokerage. Over 13% of the leads purchased a home within 12 months, however only 4% of those homes purchased were with the agent the lead was originally assigned to.

We worked with an agent recently that was unable to convert any leads until they implemented good follow up. Then within the month they closed their first transaction. Within the next four months they had done $80,000 of business directly from their leads.

As the expression goes, hindsight is 20/20, and often the illusion is that a lead is bad, when in fact it is actually good.

Here’s how we define a good lead: “Quality along with follow-up makes a good lead”

A quality lead is somebody that is genuinely interested, is willing to meet, and to discuss their needs.

The only way to know someone is a quality lead is to contact them. If they are unavailable they need to be added to a follow-up email campaign. If they are available, discuss their needs and then add them to a more specific follow-up email campaign.

Follow up is adding a lead to a drip marketing campaign and giving them an initial courtesy call to discuss their needs. A drip marketing campaign may consist of either an automated MLS property list, a weekly update, or a newsletter.

How to replicate success:

The key to replicate success is to create systems and measure success.

You can create 2 kinds of systems. I’ve written about leveraging systems in-depth in the article Why online leads are waaaay more likely to work with you than you think.

1. People: Hire an assistant or expand your team to handle any task you can be done by someone else. Besides the usual real estate tasks this includes email follow-up, initial follow-up calls, and recording conversions in a spreadsheet. This will enable you to be more successful at capturing more leads, to focus on the leads that are high quality, and closing more leads that are ready to work with you today.

2. Technology: Client Relationship Management Tools and Lead Generation Platforms can add efficiency and provide you will measurable success.

Conclusion:

Lead generation can advance your business. Each agent is unique and determining a system that works for you is crucial. Once you determine your ideal system you will want to replicate that success and grow your business.

Any type of lead you generate is a paid lead. Even lead activities like blogging or open houses cost your time and marketing dollars. This is why it is so important to track your success.

When you know the methods that will provide you the biggest return on your investment with regards to the number of leads, conversions and transactions you will be able to put your dollars towards activities that provide more success.

Finally, treat your leads differently. Know what stage they are in and make sure the follow-up material you are providing is right for them.

Good luck advancing your business. Let me know your thoughts, tricks and/or tips on lead generation in the comments.

CTA Blog Button

Categories
On Marketing On Real Estate Study

Real Estate Giant Study: Online Lead Conversions & Closings

2015 Real Estate Lead Generation Study

Does Facebook Lead Generation Work?

Over the course of 12 months 5000 online leads were tracked from generation to closing with the goal of measuring the conversion rate and ROI. 3500 were Buyer leads and 1500 were Seller leads.

The results of the study was stunning.

The actual name of the brokerage that did the study is changed for privacy reasons. If you need more information on this study feel free to message me personally.

A real estate broker, and friend of mine, did what other brokers would not – he bought leads for his agents.

He has over 200 agents so to truly offer this as an incentive he needed to buy a lot of leads. However, when he started distributing the leads, his ROI seemed low. His concern was that the leads he was generating were “junk”. The amount that closed a deal appeared to be so low that it seamed that online leads were ineffective.

Instead of stopping he dug deeper.

He setup a system to track the names of every lead against his conveyancing office. He was looking for a connection between the lead and a closed transaction in his office.

And guess what, of the 5000 leads he generated, he found that 678 of them closed as transactions in his office. Huge ROI.

But here is the kicker. Only 4% of the closings were with the agent that he originally sent the leads to. That’s correct, only 4%

If it wasn’t for the fact his office is so large he would have missed out on 96% of the business.

Why is this so fascinating and what can be learned?

1. Lead follow-up is more important than most of his agents realized. It is easy to conclude that an online lead is “not serious” and discount them as junk. However, when an agent understands the Online Lead Dilemma, they learn that a lead goes through a journey of Peaks and Valley’s of interest prior to reaching the point when they are ready to take action. The reason only 4% of the leads were working with the first agent they were put in touch with is because the agents were not following up with them.

2. According to Realtor.org after interviewing thousands of home sellers and buyers it was revealed that leads generated from marketing account for 40% of real estate business. This is outside referrals and repeat business. Online leads are proven to be the fastest way to grow repeat business. This is why some agents can start lead generation systems online and within 24 months be one of the largest players in their city.

Conclusion

Of the 5000 leads generated online 678 turned into transactions at that brokerage within 12 months. That is 13.56% of all leads.

Online leads provide a big opportunity for any Realtor serious about growing their business.

Think of it this way, find out how many ends are done each year in your city. According to Realtor.org 40% of those deals are up for grabs each year… this may change your opinion on online leads. It is the very reason the successful agents find the right marketing partners like StreetText to make sure those leads find them.

I hope you find this study as fascinating and confirming as I have. It is congruent with the results our Top Producers are getting with our program.

StreetText specializes in Real Estate Lead Generation, to learn more visit Lead Magnet

Feel free to use and reference this study, all we ask is you please provide a link back here. Thank you.

CTA Blog Button

Categories
On Marketing On Real Estate

The art of contacting leads

If you’re interesting in making a positive first impression with your leads, and who isn’t at this point, you can’t escape hearing about the power of context marketing. Pelle Snickars said it first, “If content is king, context is it’s crown.” Context Lead Generation is understanding who your lead is, what they want, and most importantly what stage in the buying process they are in.

quote power of first impression

The problem with online leads is that the model is broken. Many Realtors are being sold leads without any knowledge as to what that lead wanted. To add insult to injury, often those leads are being resold to multiple agents.

The result is a really bad experience. Both for the Realtor and the prospect.

The lead doesn’t get what they were expecting and the Realtor doesn’t get what they need, a future client.

If the story ended here it would be a very sad story indeed. There is a solution, but first let’s start at the beginning.

1. Why are online leads so valuable to your business?

Lead generation drives growth. Most importantly, lead generation keeps you busy month-after-month. Many agents get swamped in summer time. While they are working in their business they need a system in place working on their business.

Because some agents aren’t doing anything to generate leads when they are busy, they come out of summer and find their business in a sudden lull.

A lead generation and nurturing system ensures this won’t happen.

2. Why isn’t my website getting online leads?

There are 2 reasons your website isn’t getting you online leads. First, agent websites are designed to sell you and are not designed to convert leads. They educate visitors about your service, why you are credible, trustworthy and good at Real Estate. Websites are ill equipped for lead generation. The forms don’t convert because they were never designed with lead conversion in mind, and even if you spent ten or twenty thousand dollars optimizing it, personal sites don’t get nearly enough traffic to make them effective.

3. Why are agents buying bad leads?

The industry has gotten used to the fact that 99% of online leads are useless. For some agents a good lead is worth 99 bad phone calls. The sad truth is that many agents are okay with bad leads.

4. Is there a better option?

Absolutely. It’s called “context marketing”.

Here’s a quick summary of what’s different. Leads submit their contact details in a form. This captures the prime suspects “name”, “email”, “phone number”. Most lead capture tools stop there. After getting the contacts name and email they call it a day and pass the lead onto the Realtor.

But, they don’t know if the info is correct, valid, or if the lead even wants to be contacted. So really these are unverified leads and not true leads.

“Context marketing” takes it 2 steps further.

1. It shares with the Realtor the reason that the lead submitted the form.

2. It asks the lead more questions, such as what exactly they are interested in, and shares those answers with the Realtor.

 5. How do I make a good impression when contacting leads?

When you have insight into what a lead wants you know why you are contacting them. Making it much easier to prepare prior to the conversation and really knock your leads socks off.

But… there is a secret to making this first call even better.

StreetText contact leads

 6. How to get introduced to your leads before contacting them

Dale Carnegie, author of “How To Win Friends And Influence People”, suggested that the best way of winning friends is by talking about topics that others are interested in. When you know what your lead is interested in because of “Context Marketing” you can talk about things to get keep them hooked along the funnel.

And then use systems (like your assistant) and technology (like email) to introduce yourself to them earlier in the process.

The result is that your leads will learn who you are and why you credible while you provide information that is interesting to them.

That way when you call your lead they are expecting you to contact them. Making your experience way better and your first impression a positive one.

7. How to I convert these leads

A staggering 80% of online lead conversion happens during follow-up and nurturing. Smart agents like Darryl Reuter and Isaac Verge have systems in place to ensure their leads get weekly drip-emails and follow-up phone calls.

This is the real secret behind online lead generation. To learn more about a long-term lead generation strategy click here.

8. How do I get started with lead generation like this?

If you are interested in a solution like this, we offer an amazing Lead Generation platform that you can check out here.

CTA Blog Button

Categories
On Marketing On Real Estate

Top 10 online lead generation mistakes to avoid

Generating leads online isn’t always sunshine and quick deals. Here is our list of the top 10 mistakes agents make when generating leads online.Lead Generation - original photo by Matthias Rhomberg

Mistake #1: Losing touch with a lead.

A lot of agents get in contact with a lead only to find out that the person is a long ways off from entering the market. This is true for all leads, whether they gave you a call to view one of your properties, or you met them through your online marketing. Nobody wants to work with “tire-kickers” so they let these ones go unconnected.

Don’t make this mistake. There is a difference between a long time-frame and a time-waster. Use technology like email automation, or notifications from your MLS, to stay in touch with these leads without much effort on your part.

When they are ready to hit the market, you will be first on their list.

Mistake #2: Waiting too long before responding to a lead.

Work life can get busy. Between showings, appointments, and negotiations it can be tough following up with inquiries. If a person inquiries with a genuine question, but it takes a long time to respond with an answer, that person very likely found their answer elsewhere in the meantime. They no longer have any reason to be in contact with you, and the opportunity to provide any value is gone.

Having a part-time assistant can make a big difference when it comes to following-up with leads.

Mistake #3: Forgetting to uncover the lead’s motivation for contacting you.

We often think that every lead means a deal. But often, their real motivation may be a bit different. We will never know without asking why they filled out the form, called you, or sent you that email.

When you find out why they are inquiring you are much more likely to get the sale.

Mistake #4: Treating all leads the same.

If you have a marketing campaign running, such as a Radio Ad or Facebook campaign, because your first contact will likely be by email or phone it’s easy to get caught in the trap that all these leads are the same.

However, these are all real people that are reaching out to your marketing offer, each with individual needs. Use the communication you have with your lead to create a tailored response for each one. If for some reason you can’t get in touch with a lead, that’s when it’s a good idea to use a broad follow-up response.

Mistake #5: Overloading the lead with too much info.

You’re an expert at real estate. Most of your leads are not. A little bit of information goes a long way when helping people buy and sell homes. Keep your emails short. If you have a Buyers or Sellers package, wait until you’ve had a couple conversations with them prior to sending it their way.

Mistake #6: Really long email signatures.

We’re all proud of our achievements. If you want to include these in your signature, include 1 or 2 that really stand out. I’ve seen many emails from agents and it is common for an email signature to be twice as long as the email content.

It can be hard for the reader to distinguish between the content and the signature. This makes an email seem intimidating to a reader. Also, it is very unlikely that your recipient will read your entire signature.

Often long signatures can come across as “salesy” and may turn off people before you’ve had an opportunity to meet them.

Mistake #7: Providing value for a while… then stopping.

One of the biggest value-drivers you can build in your business is your lead list. These are people that you stay in touch with weekly via email. You may have never done a deal with them, but as you keep sending them emails, you will.

Leads go through “peaks” and “valleys” of interest. A valley can last months to years. So keep sending those emails and your monthly deals will keep growing.

Mistake #8: Not explaining next steps.

It’s easy to have a great conversation with a lead and forget to outline the next steps. Outlining “next steps” create a reason to have the next phone call or to send follow-up email.

Also, from your leads perspective it is nice knowing what to expect for next steps. You appear very professional when it’s clear what will happen next.

Mistake #9: Not getting leads on an email campaign.

Leads require nurturing. People new to lead generation often expect that they will pick up the phone, call their lead, and have a new client waiting on the other end. While that happens occasionally, veterans at lead generation have learned that leads require nurturing.

After providing value and having an initial conversation add all of your leads to an email list. You may be surprised who you end up doing a deal with. Sometimes you will have written off a lead based on the first conversation and then 2 months later they give you a call about listing their home.

Always add every lead you have permission to email to a weekly campaign. Here’s an article that explains how to do this for Seller leads.

Mistake #10: Not doing everything you possibly can to get in contact.

Calling a lead once and leaving a voicemail rarely turns into a contact. Make it a habit to do what ever you possibly can to get in touch with that lead. Call them, email them, text them. If you cannot get in touch with them and you have permission to email them, add them to your email database.

Bonus Mistake: #11: Not providing value.

Often times we think that a lead needs to be a qualified buyer or seller today before we are willing to provide value. This is a huge mistake.

Today’s market place is driving by a value-first mentality. Furthermore, the easiest way to build trust and add credibility is by providing value to someone else free of charge. If you are afraid that it will lower your value if you provide work for free – know this. Instead of lowering your value, it bolsters it, because you are letting your leads know that you value them. Today all professionals are doing this. Lawyers to Accountants to Realtors. It’s the best way to do lead gen.

Action steps:

If you have any comments, suggestions or ideas about how to do lead generation, share them in the comments below. Make sure to checkout StreetText’s lead generation software, we’re a friendly bunch and are working hard to provide great value to you and to our clients.

Want to know how to generate leads online? Click here to read a tutorial explaining how.

CTA Blog Button

Categories
On Marketing On Real Estate

3 Pillars of leveraging your tasks to grow your real estate business

Sailing Quote - photo by Tom Bech

Doing the right things is more important than doing things right.
Mark Suster

The theme of this article is improving your business by leveraging your existing systems. Arnie Leedholm, a Real Estate Agent based out of Calgary, Alberta, is a great example of a man who being in the business for 30+ years is leveraging his years of experience with new technology.

#1 Not all tasks are made equal

Stephen Covey created the very well known “time management matrix”. The grid does a simple job of highlighting the important activities that we need to focus on. Often our natural inclination may be to spend more time on urgent tasks, many of which are not important. It’s a grid that successful business people rely on as a reminder of what activities to focus on to maximize the effectiveness of their time at work.

Stephen Covey Important versus Not Important Grid

While this is a great graph to illustrate what differentiates important tasks from others, it doesn’t do justice when differentiating important tasks themselves. When you understand and apply this next principle you will begin to see your time having an even bigger impact on the growth of your overall real estate business.

#2 The majority of your results are coming from 20% of your activities

The 80/20 rule, which I’ve referred to in previous posts, is the principle that 20% of your activities account for 80% of the results. That begs the question, are you prioritizing that 20% of activities? Some important tasks effect all of your business, some important tasks effect some of your business and some important tasks effect only 1 part of your business.

Think of the difference between setting up lead generation or hosting an open house for a client. Both are important tasks, but only one of them will continue to impact your business in the future.

#3 If you prioritize your big important tasks your business will grow.

Arnie Leedholm is already a successful agent. He has a good reputation in Calgary and has many repeat clients that refer him. Nancy Wijngaarde wrote this about Arnie,I have worked with Arnie Leedholm for many years in buying and selling real estate and he is someone I can always count on for his knowledge and advice.”

The reality is that in order for you to grow your business beyond its current size you need to go beyond your current sphere of influence. In real estate one of the key important activities that you do to grow your business beyond your sphere is paid marketing.

Arnie turned to Facebook as a way of increasing the number of clients he was reaching beyond his sphere. Arnie says he chose to use StreetText’s platform, “to help me find clients as they already had credibility with me.”

Arnies years of experience paid off. He knew where he needed to invest his time and money to grow his business.

Is paid marketing right for you?

Marketing is divided between 2 groups. Branding and direct response. Big companies like Nike and CocaCola focus on branding. But it’s expensive. Whereas, direct response campaigns give you leads but often don’t build your brand.

What if there was a way to get the benefits of both in a single campaign? Fortunately, there is. It’s called Solution based marketing. And big ad agencies like Harmon Brothers have been using it for years. Solution based marketing speaks to a problem that a person has and then provides them with a solution to their problem.

Solution based marketing on Facebook can build your brand in 2 ways. Firstly, your business page is displayed to every person that sees your ad. No different than a billboard. Secondly, you establish delight and trust by delivering on the promise and then staying in touch with them (dripping on them) over time.

The good news is with StreetText you can launch Solution based marketing campaigns on Facebook to drive leads in just a few clicks.

“I signed up to StreetText and within the first few weeks had a buyer sale and at this time after about 8 weeks, I have 6-8 very solid leads I am working with.”

Arnie Leedholm

Creating an effective campaign

Mark Suster, a 2x entrepreneur and VC says that you need to ask yourself these 5 questions when creating a marketing campaign.

  1. With whom are you trying to communicate?
  2. What messages are you wanting them to receive?
  3. What is the best channel to reach these people?
  4. If they receive your message what actions (if any) are you hoping for?
  5. How will you handle those responses

At first glance, creating effective marketing and answering these questions might seem a bit daunting. The great news is that if you’ve been in real estate for a while you already have systems or good habits in place for handling responses to your inquiries. This is where your experience allows you to use technology to leverage it.

Here’s what I mean.

Those first 4 questions can be answered using marketing experts and technology. Whereas the last question needs to be answered by yourself.

Arnie Leedholm, a client of StreetText, is seeing success growing his business because he has experience doing the correct follow up. He already knows that he can handle responding to his leads. He’s leveraging our technology and his experience and knowledge in Real Estate to maximize the effectiveness of his marketing time and energy.

As Arnie wrote, “As in all of these types of marketing there are a lot of low quality leads, which are not the fault of StreetText. But amongst these contacts are some real gems…serious qualified buyers. If one does the correct follow up, this program really works!”

Understanding the 80/20 rule and how it applies to your business will greatly enable to you prioritize your tasks based on the long term effect they will have on your business and your life. By using this approach to audit the tasks you currently do you may be able to eliminate that some of the dreaded unimportant non-urgent activities that are only wasting your precious time

 

Get leads from Facebook, today

Tap into new prospects beyond your network. Run market-ready ads that leverage Facebook’s algorithm to reach more buyers and sellers and grow your business