500 Leads In August – Real Estate Agents
This blog post is a continuation of a previous post regarding my quest to reach a minimum of 500 leads for the month of August.
To Go Fishing You Need Bait
If you want to receive a lot of home buyer leads you need the bait that will attract what home buyers want, they want to buy a home. Your best bait is listings, and to be able to use listings as bait you have to have real estate agents who have listings.
The RSVP system was developed as a Joint Venture Lead Generation and Marketing Program to help my real estate agent partners generate a lot of leads, have a tool that creates a huge seperation gap, and market the agent and their listings. The RSVP system does the same for me, create seperation from the herd and provide me with a ton of leads. This isn’t a program that I want to provide to just any real estate agent, so I made the decision early to keep the number of participating real estate agents down to a small number in total with just a few coming from specific regions of town.
Not All Real Estate Agents are the Same
The number one criteria for initial consideration, the agent had to have at least 6 listings that were in the sweet spot of our buyer market, the First Time Home Buyer price range. If they had the number of listings then I checked out the days on market, if they had FTHB listings but the listings were on the market longer than the average DOM I assumed the agent had defienct skills or they had bad listings, either way I eliminated them.
Of course, I had my own stable of real estate agents, this is where I started, some were quickly eliminated because they did not meet the number of listings but a good solid base were placed on the list to be interviewed. Yes, I said interviewed, I developed a set of interview questions so I could better understand whether the RSVP system would be appropriate for the agent.
Not all agents want to grow, not all agents want to be a top producer, many real estate agents are happy right where they are, I wanted to know where they wanted to go professionally. Also, since I was offering a system that would generate large number of leads I needed to know if the agent agreed with me on what a lead is, did they have a lead generation system now, how well did it work for them, do they have the capability to manage a data base, would they be willing to work within a system, and would they allow a loan officer to hold them accountable. I also asked if they had read ‘The Millionaire Real Estate Agent’, the entire RSVP system is based on the principles from this book. Could they look long term to judge the value of the RSVP system, would they wait 3 to 6 months for it to happen.
After I determined who from my group of agents I wanted to work with I then hand picked 110 agents to recruit and spent a full day, Monday, hand delivering invitations to participate in RSVP. Actually, I didn’t hand deliver them I drove my teenage daughter to all the offices and she made the deliveries. I waited until the next week before I started a follow up call campaign, though I did get several calls right away to set up a meeting most who called me were from my existing base of agents. In total I had a 27 percent appointment ratio or 45 appointments, I am still in the process of interviewing some of these agents. The agents I did not reach were placed on a drip campaign for further simmering and stewing.
Landing the Whales
I did have one agent contact me which really suprised me. I had chosen this agent for the reasons above, he has a total of 43 listings currently, but also because I had noticed his marketing and lead generation system are very similar to RSVP. We met for breakfast on a Friday morning, the meeting was scheduled for 8:00 I arrived at 7:30 he arrived at 7:40, already I liked him. Long story to short, we found a mutual field of conversation that escalated to several e-mail conversations over the week-end while he and his partner were in Las Vegas.
Here is an excerpt from an email I received from him:
Look forward to continuing our conversations. I’ll be interested to hear your thoughts on the following
Later this week I have another opportunity to speak with an agent who has 65 listings and knows of this other agent and has been wanting to do the same type of lead generation but just couldn’t figure it all out. By the end of this week I should have nearly all the agent interviews concluded, then I will have to begin the process of determining who is in and who is out.
* How would you see – from a mortgage perspective – handling 1000+ inquiries from Craigslist, websites, etc per month – and turning them into additional mortgage business regardless their interest of working with us for Real Estate
* Educational Opportunities. We have been teaching/coaching and training. Were doing a monthly event with up to 70 agents in attendance with ______, would like you to do this.
* Ordering Copies of Your Books for us as a recruiting Tool.
* Creating a win-win for you to meet with and recruit agents into our shop – a lead generation (sales oriented environment) from which they can receive top shelf support and thrive and grow.
Did I miss anything? We’ll reach out to you next week about scheduling for the week of the 27th.
Go Where the Home Buyers Congregate
IF you want to do lead generation to find potential future home buyers you need to go where the home buyers are, they are on the internet and they are in their cars. A NAR statistic that I recently read stated; 87% of all home buyers are on the internet looking for information and veiwing listings, 68% of those internet people will drive by the house they are interested in once they find it on the internet. If you can control a large number of worthwhile listings you can generate a lot of leads once they find you and you make a valued call to action.