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Transcript

More Leads Won’t Fix Your Real Estate Business · The Real Estate Agent Playbook

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  if your real estate business is struggling right now
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  there is a really good chance
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  somebody has already told you what the solution is
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  you need more leads and maybe you do
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  but if you're already getting leads and you're not converting them
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  buying more isn't growth
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  you're just paying more money to make the same mistake more often
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  so before you spend another dollar trying to get more leads
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  I want to help you figure out whether you actually have a lead problem
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  or whether you have a business problem
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  that more leads are just going to make more expensive
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  I want you to win because when an agent tells me I need more leads
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  what they actually mean is I need more closings
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  those are not the same thing
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  a lead is an opportunity or a data point
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  in my opinion to start a conversation
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  that's it it isn't a client
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  it isn't a contract it definitely isn't a closing
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  and I think that direction gets lost
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  because when the pipeline gets thin
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  the easiest thing to blame is the top of the funnel
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  we look at the calendar realize we don't have enough under contract
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  and immediately decide we need more people maybe
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  but I want you to know what happened to the people you already had
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  let's say you generated 100 leads
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  I'm using 100 because the math is easy
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  not because I'm telling you this is some magic benchmark
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  if those 100 leads produce five
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  clients and then I give you another hundred
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  while changing absolutely nothing about what happens
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  after the lead comes in
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  why would we expect a completely different result
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  we might get five more clients
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  maybe we get six maybe we get three
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  but all we really did was increase the volume
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  going through the same process
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  now imagine instead
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  that we go back to and improve what happens with the original hundred
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  we respond better we create more actual conversations
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  we stay in the follow up longer
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  we get better at moving the right people toward the appointment
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  we get better when we're sitting across from them
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  now we're improving the business and once this starts to work
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  absolutely give me more leads
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  that's the part I don't want lost in this conversation
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  I'm not anti lead generation
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  I'm anti using lead generation as the answer to every problem
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  and how we sit around and rack our brains
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  and try all of these new things
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  because there are absolutely
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  agents out there that need more opportunity
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  if you're great when you get in front of people
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  your follow up is solid your conversion is good
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  your database is being worked
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  and you simply aren't creating enough conversations
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  then yes let's figure out how to create more opportunities
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  but that's a very different business
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  from the agent who has 700 people sitting in their CRM
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  40 new leads from the last month
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  past clients they haven't talked to in two years
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  and three people who said
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  call me after the summer who never get that call
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  those two agents should not be spending the money the same way
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  and this is where I think
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  agents sometimes confuse activity with opportunity
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  a CRM full of names isn't necessarily a pipeline or a CRM at all
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  it's more a glorified spreadsheet
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  a lead coming in isn't necessarily a conversation
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  and calling somebody one time doesn't mean you followed up with them
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  you can be incredibly busy around leads
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  without actually doing the things that convert them
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  I've seen agents respond to a lead almost immediately
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  send a text make a call
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  maybe shoot over an email
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  and then basically disappear three days later
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  that person is filed under bad lead
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  maybe they were
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  but maybe they weren't ready to organize their entire life
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  around the fact that you called them
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  Tuesday at two seventeen PM
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  speed matters I'm not arguing against responding quickly
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  but being fast for the first 90 seconds doesn't help much
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  if what happens over the next 30 days is completely random
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  that's where the business usually gets a lot less exciting
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  cause everybody loves the notification that says you got a new lead
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  follow up six weeks later
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  not nearly as exciting but that's often where the opportunity is
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  and this connects
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  directly back to what we talked about in the latest couple of videos
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  before I automate follow up
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  I need to understand what the follow up process should be
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  go watch those videos maybe stop right now and go back
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  or keep going and catch them at the end
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  before I buy opportunity I need to know more
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  about what we're doing with the opportunity we already have
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  otherwise we're just feeding the pile
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  and the pile can get expensive really quickly
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  one of the first places I would look is your existing database
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  not because I'm going to give you the generic
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  just work your sphere answer
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  and pretend that's the entire growth strategy
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  we've already talked about that
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  I want to know whether there is a legitimate opportunity sitting there
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  that you're ignoring while you're paying for strangers
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  maybe there are past clients who had a great experience with you
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  but haven't heard from you since closing
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  maybe there's somebody who wanted to move six months ago
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  and the timing wasn't right
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  and maybe a buyer paused because of rates
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  maybe somebody came through an open house and wasn't ready
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  maybe people have been watching your content
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  replying to emails or asking questions
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  and nobody ever moved the conversation forward
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  that doesn't mean every person is in your CRM
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  is secretly a transaction
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  there's certainly not it means
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  I want to make sure we've used the opportunity we've already earned
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  before we assume the only way to grow is to purchase more
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  and this is where having a very simple look at your numbers helps
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  I don't need 50 metrics
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  I wanna see the path how much opportunity came in
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  how much of it became real conversations
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  how many of those conversations became appointments
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  and are those appointments actually turning into clients and closings
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  that's
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  enough for us to start seeing where the business is actually breaking
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  because if the top of the chain is empty
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  great we have an opportunity problem
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  now let's go create more
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  but if the top is full and everything disappears in the middle
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  that's a completely different conversation
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  and I know I would much rather fix that before we turn up the volume
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  it's the same reason I wouldn't fill a bucket faster
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  without first checking whether the bucket actually holds water
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  there's a hole in the bottom
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  turning up the faucet just creates a bigger mess
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  and that's what happens with lead spend
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  the agent gets frustrated with one lead source
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  shuts it off
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  moves to another one and works that aggressively for a couple weeks
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  gets busy with actual real estate
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  the follow up drops off
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  and then eventually decides these leads suck too
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  maybe they did there are absolutely bad lead sources
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  I'm not gonna lie there are leads
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  that are nowhere near qualified and ready to purchase a home
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  that doesn't mean they don't deserve your time
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  it just might be a little bit different time
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  there are companies that oversell what they're actually providing
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  I'm not defending any of that
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  but before I call a lead source a failure
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  I want to be able to say we actually gave it a real chance to work
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  did we consistently make contact
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  did we create real conversations
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  do we nurture the people who weren't ready immediately
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  do we know what happened to them
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  and then
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  we can make a decision based on something other than frustration
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  because once the process works
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  I actually love the idea of scaling
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  if you know what you're spending
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  you're understand roughly how much the business converts
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  you have the capacity to follow up and the economics make sense
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  turn it up at that point
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  leads can become incredibly valuable
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  you've earned the right to scale the lead source
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  that's a very different decision than my business feels slow
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  so I'm going to throw another $2,000 a month at the top of the funnel
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  and hope something changes
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  one is a business decision
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  the other one is panic with a credit card
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  and if you're trying to go from seven transactions toward 30
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  this matters at some point
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  you have to stop trying to solve every problem with more volume
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  and start solving some of them with better process
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  more leads can grow a good system
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  they don't create one
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  and this is something we see with agents all the time
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  someone comes in frustrated with leads they're getting
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  or the first question they ask me is
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  do you provide leads and before we prescribe another lead source
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  I wanna look under the hood
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  sometimes we discover they're doing exactly what they should be doing
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  and they genuinely don't have enough opportunity perfect
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  now we have to know what to solve
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  but other times there are untouched leads sitting in the CRM
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  the follow up stopped after a couple attempts
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  old conversations were never revisited
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  appointments happened and didn't convert
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  nobody really knows where the half pipeline went
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  in that situation I don't think agents need another source yet
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  I think they need to fix what happens after the source does the job
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  that's what I mean when I talk about diagnosing before prescribing
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  I don't want to give every agent the same answer
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  some need more leads that's the bottom line
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  some of you need better follow up
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  and some of you need to get better at converting the appointments
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  some of you need to stop ignoring the people you already know
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  the only thing I care about is figuring out which one is actually true
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  for your business because once we know that
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  we can spend time and money and a lot with a lot more confidence
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  and then we can filter
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  and creativity to absolutely niche down and help you grow
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  and if this video gave you a little bit more than just
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  you need more leads go work your sphere
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  and you wanna see how we actually look at agents business
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  before we prescribe another strategy
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  I wanna give you a chance to peek behind the curtain
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  we have coaching resources
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  a community that we offer to agents who partner with us
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  and you can spend two weeks inside of
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  with us before you make any of those decisions
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  and we're not gonna pressure you into that decision
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  if you get what you need in two weeks great
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  go crush it
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  I wanna see you win comment pass below if you want that two week pass
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  come to the coaching bring your CRM
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  bring your numbers bring the lead sources you're frustrated with
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  and bring whatever part of the business you can't quite figure out
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  and see what actually happens
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  when we work through it together
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  with 12 coaches from across North America
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  I'm not asking you to take my word for it
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  come see the room and if we're talking about creating more opportunity
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  there's one area of the business
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  I think agents dramatically underestimate
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  and that's listings
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  because a listing isn't just one seller transaction
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  a good listing can create attention
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  it can create buyer conversations
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  it can create neighbor conversions
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  it can create content
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  and it can create proof that you're actually doing the work
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  a listing can create leverage and in this market
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  I think
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  the agents who understand that are going to have a massive advantage
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  that's exactly what we're talking about on the next one
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  so hit the subscribe button
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  we'll see you on the next one
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  if you're too busy to check out YouTube
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  we do have a podcast so check that out as well
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  but thank you so much and ultimately
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  take one thing from this video and go get a win today
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  and start to change your business and move it forward
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  get out of the funk you're in or just use it to level up
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  if you're doing great maybe something I said will help you level up
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  you need to focus on that and we need to help
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  if you need anything
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  you and have access to our coaching for free for two weeks
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  or you can book a call with me so we can talk one on one
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  and we can talk about your business and solve a problem
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  go get a win today