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How I made 140,000 my first year in Real Estate

At one point or another – we all started out in the Real Estate world somehow. Whether it be through the family business, our true passion, or even by accident… we all have our paths to this business.

With this in mind, it’s important to consider that we all have one commonality when beginning in the Real Estate world.

We all had to start from the beginning.

Adam Wilson – Photo by Blondy Photography

Before the Holiday season, I sat down and spoke with Adam Wilson – an Edmonton Real Estate agent who has been in the business for a year as of early November.

Adam crushed his first year with a total closed commission of $140,000 –  Taking home roughly 125k, which means that his first year in Real Estate was incredibly successful. Over the course of our conversation, we chatted about his systems – but mainly how he got started in the industry.

Adam initially had an interest in Real Estate when he was fresh out of High School, and looking to make some career moves. He had several friends and family friends in Real Estate, so it was something he was familiar with growing up. From here, Adam made the choice to begin his education in business management. This lead him into several different businesses, which included running his own painting company.

Adam got into management – and worked at a cabinet shop for quite a few years. During our conversation, he mentioned that he did not mind directly managing people, but still felt like his career growth needed more.

This is when Adam decided to make his transition into Real Estate, despite being told that it might not be the best time for him. None the less, Adam dove into getting his license.

Here’s the start of Adam’s first year in Real Estate. Pay attention, because this is where it gets good.

Adam started in a small office of about 20 other Realtors, which was perfect because, within his first few months, he was able to get a lot of mentorship from more seasoned agents.

Adam Wilson - Photo by Blondy Photography
Adam Wilson – Photo by Blondy Photography

Adam was also given a pretty high goal to reach within his first year. When he initial sat down with the broker in his office, he was told that he wanted Adam to reach a commission of $100,000.

Remember, at this point in Adam’s career, he’d only been working in management – and had no experience in Realty until now, and the exposure he had growing up.

Now, before we continue, I want to remind you that Adam made a total of $140,000 in closed commission in his first year in the Real Estate industry.

You can imagine that right off the bat, this seemed like an impossible feat for Adam to achieve. But he did it. In his first year of being in the Real Estate industry, Adam was on track and then surpassed his initial goal. Throughout the year, he changed his target sales goal several times, as he knew he would reach it.

“I never thought it would be possible, but I still had a great year!” Adam had an incredible first year, which surprised even him.

When I sat down with Adam, I wanted to specifically pick apart his process. With such a successful first year, Adam is the anomaly. If Adam can make this amount of commission in his first year, any Realtor should be able to.

So let’s dive into it, starting with Adam’s Lead Source.

Adam has a few different lead sources that contributed to his successful year… one of which included StreetText. StreetText builds custom Facebook ad’s for Adam that helps him reach his target audience in his chosen areas. Leads then filter through his StreetText Dashboard, where he can then follow up with the information they provide.

Within Adam’s StreetText account, he also has access to a 9-Month email drip campaign that he can put any one of his lead on – as well as customizable pipeline creation and much, much more.

From here, we got into the breakdown.

I wanted to pick apart Adam’s follow up techniques, and systems because he has had such a successful year… and because it was his first year – I knew it was important to highlight for any realtor on the same path. We started with his full lead submissions – which means the real estate leads Adam receives that have a phone number, email, and address.

As soon as one of these comes in, Adam begins almost immediately with following up. Below is a walkthrough of Adams full submission process. Keep in mind, a lot went into finding a perfect algorithm for this.

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As you can see, Adam has a straightforward, yet detailed follow up technique for his full submission leads. Adam stressed the importance of consistency and making sure that the initial follow up is within the first few days, and as approachable and casually professional as possible.

Adam also has additional follow up processes for his address only submissions, which are submissions that come into his account that only contain an address and no other personal information. It’s imperative to follow up with these in the right way, as they are valuable leads coming into your account. For Adam, the follow-up consists of a handwritten letter that is personally addressed to their home provided – and delivered within the first few days of the submission coming in.

Adam also explained that this process is something that he is still playing with. Because address submissions are a little harder to manage, there isn’t a perfect algorithm for them due to location, market, and other variables.

What Adam did explain though is that he’ll implement a system for his business and test their success rate. As an example, he’ll implement a follow-up system and try it out for a few months. If this new systems doesn’t yield results, Adam will scrap, tweak and modify the system to see how he can build a successful system.

This isn’t even a key component for Realtors starting out. This is something all agents should remember when implementing any system to their business. Why keep something that isn’t working?

Put a limit on how long you may try something for, whether that be three months, three weeks, or 6 months. Putting firm timelines on your trial systems will help you weed out the unsuccessful systems – on closer to the gold star systems your business needs.

Real Estate Advertising
Adam Wilson – Blondy Photography

It’s important to remember that Adam’s systems took a lot of consistency and determination. Adam mentioned several times that if something didn’t work, he didn’t spend too much time on it. “There’s no point in keeping up with something that isn’t yielding the results you want or need,” said Adam.

So the take away from Adam’s story?

With the right amount of commitment, connections and willingness to grow, you too can have a successful first year in the Real Estate world. Keep building your systems, trying different things, and building contacts. You too can have success. Refine as much as you can, so you too can build a year as successful as Adams.

For more information on StreetText, Facebook Advertising, and StreetText Academy, reach out to us personally! We are always more than happy to help.

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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!

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On Marketing On Real Estate

How to turn prospects with long timeframes into clients

How to turn prospects into clientsLet’s face the facts. Many leads have long timeframes. Months before they are ready to buy or sell, people start educating themselves about their housing market and their options. If you are a smart agent you will have a system to capture these “early stage buyers/sellers” and turn them into prospects. This may be how you found your prospects.

A common scenario I see are Realtors who have only a few leads that are ready to act today, and lots of prospects that may be ready to act in the next 3-6 months.

According to NAR’s statistics the typical Home Buyer and Seller take several months to decide to buy/sell. That plus the time it takes to find or sell a home. This means the average real estate prospect will take 4+ months to mature and turn into a deal.

If that sounds about right, below are some great tactics to ensure your prospects convert into your clients.

1. Be present in their journey.

This tip has been beaten to death, but it’s because it is important. Add all your prospects to an email newsletter. Tools like Mailchimp and Constant Contact are great for running these campaigns.

2. Ask your prospects questions in every email.

99.9% of Realtors don’t do this, but they should. The reason is that you can get valuable insight into how you can help your future clients more. For example, at the beginning of your email you could write something like this. “If you would like a semi-annual update of your home value, let me know.” Or, “I’ll be happy to provide you a monthly list of homes that are in your dream location with a realistic price range, or anything else that you need.”

You will be pleasantly surprised how a different question will help you find what stage of the buying and selling process your prospects are in.

3. Help your customers first.

Earlier this week I was speaking to a gentleman who was a Realtor for 13 years. He had some fantastic stories and in one of them he described how he met a FSBO and got 5 deals from them. He was visiting his mother when she mentioned that her neighbour was selling their home by themselves. Being a nice person he went over and asked how things were going. “Very well they replied, we’ve already had 3 offers.” Wow, he thought, that is good. So he offered to look at them with them. That’s when he discovered that they had counter offered to all three. To make a long story short, he saved them from a potential litigation suit and ended up with 4 more deals from their family.

He told me he would never forget the lesson of offering value for nothing.

Let me know your thoughts and experiences in the comments below.

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