How to Convert Leads at the Highest Level - Part 1

Welcome back to the Business Freedom Podcast. This is another epic three part series and it's more tactical than what I've shared in the last few weeks on the Business Freedom Podcast. So Dan Jones is going to school us on lead conversion and management. And this is a guy, I met him when he moved to Charlotte and he joined my real estate team, got his license, joined my real estate team. He left my team in like 2012. I think Real Estate B School launched in 2013 and I think he came into Real estate B school 2014 or so and he a couple years he had one administrator and did about 60 to 65 transactions and he did almost 300 transactions last year year and he's in my market and he's just an awesome dude. He's a business coach for Real Estate B School now so we're blessed to be part of his world and I'm just honored to call him a friend and just a good dude. So this is another three part series where you want to grab your journal, you want to find a spot where you can just take notes and there's just good stuff in here. So all I ask because this is Inner Circle members only content is that you share the podcast, share this episode of the podcast on social media, share it everywhere and leave us a five star review on the podcast. Wherever you consume it. Leave us a five star review. It's super helpful and yeah, enjoy the three part series. If yeah, if you have any questions about Real Estate B school, just go to realestatebschool.com and we've got programs for all levels for folks that want to build amazing businesses. So much love and respect. Stay tuned, dig in, take notes and I know you're going to enjoy this three part series.

I was, this literally happened about a week ago where we moved into a new house and like the first thing I needed in my house was TVs on the wall and everything kind of integrated together before we had like toilet paper or anything like that. And the guy that helped me, the AV guy that I have, he, I met him, I sold a home of his like early on in my real estate career and his name's Corey and this was like at the point where I shouldn't have been listing homes. Like, you know, I made the shift from buyers and I knew nothing about listing homes or selling homes and but he had a roommate and at the time and just the other day I realized Corey introduced me to Dan and Dan met his wife at the real estate office that my team was at at the Time. And they ended up obviously getting married and they have a child now. And so Dan owes all of his success to me is what. What I figured out. Nobody really struck me, like, you never really know, like, these relationships that, that you. You have and what they're gonna lead to. And just to see, it's pretty cool to see, you know, it's. It's all perfectly planned ahead of time. I truly believe that. And just to see a guy do so well in his real estate business, and he's gonna probably brag on himself a little bit, hopefully to really keep his business just super simple. And that's not a dig on the way he runs his business. It is an absolute credit to what he is building and what he has built. And he just gets after it in his business and his role now, just as hard as he worked as a real estate agent, he works now to serve his team. Who's here from Dan's team. Look at that. Would you kick my whole team out of the first row? Would you fight them? Where did my team go? Somewhere. Oh, there they are. There's one of them. So I want you guys to give a big round of applause for Dan Jones.

What is going on? All right, let's get this party started. So today's topic, Lars asked me to do lead conversion and lead management. So that's something I'm really passionate about. When I really started thinking about it, I was like, what the hell am I going to talk about for 45 minutes to an hour on lead conversion and lead management? So I was like, damn, that's like the most boring topic, like, non sexy thing about real estate, right? But if you're not good at it, right, real estate's gonna be very difficult. So one of the things that we've done in our business is go really deep with scripts, training, repeating training, right? And like the slide says, that is where the rubber hits the road. So I totally get it's like the most boring thing, right, about real estate, but we have to be really good at it. So I know the energy level is probably not gonna be the highest for this topic, but. But at the end of the day, if you take a few nuggets, we're going to share. It's going to really bring your real estate business to a whole new level. So to bring the energy, I invited our friend. We're going to do an exercise, actually. It's called the Ric Flair exercise. So if you're not familiar with Rick, you will be here very shortly. So does anybody not know Ric Flair.

Okay.

More than I thought. Fair enough. All right, so Ric Flair. And I want to do it myself, so you guys get ready to do it as well. So Ric Flair, he's really famous for this big Woo. And he gets excited. So I need that same sort of energy level from you guys. Otherwise, I don't want to say it's going to be painful, but we're going to go damn deep and we're going to have a good time doing it, so. All right, just in case you don't know. There he is.

Damn.

Actually, if we're going to do this, I got to get my camera out if we're going to stand up. Oh, yeah. So to bring the energy level, let's play it first. All right, Rick, talk to us. That is it. That is it. I gotta hit record. So on three to bring some energy. Thank you for standing up. You guys look good. All right, on three, let's do a big Rick flare. Woo. All right. One, two, three. Damn, that was good. All right, you can have a seat. You can have a seat. So let's do. There it is. I should have put that, like, on every other slide. Just keep everybody entertained. So there's two reasons why we did that. Number one, I want some energy in the room. Number two, regardless if I fall down the stage or if I goof up, figure out wherever I'm at in my presentation. You guys just look 10 times as foolish as I possibly could at this point. So we're at least we're on a level playing Fear Phil to get the ball moving. So I do want to introduce our team, which is over here. Lars did here have a few pictures here. We have a couple of our events that we've done. We participated. This is Susan G. Komen event, Whitewater Center. My beautiful daughter and beautiful wife there. And looks like Hillary put the one where she's pointing a gun at me. Not sure if, yeah, I was selling too much real estate or I just couldn't sit still. But in the middle, you see John and his wife. He's been with us about five years. He's our virtual assistant in the Philippines wearing some Carolina real estate experts T shirts. So today, why listen to me? Why listen to real estate? Why are we here in this session and why pay attention? Because personally, I have been making prospecting dials since I was 2 years old, and I'm pretty damn good at it, right? And there's going to be some really good nuggets for you guys to take away. And plus, it's the one Thing that I can guarantee you, if you do at a high level, both as an individual and as a team.

Right.

It will make your life better.

All right.

It's just that one thing that we focused on. So 2015 was my first real estate B school conference. And I took everything from B school.

Right.

And simplified it.

Right.

There's no reason to complicate real estate. There's no reason to complicate, you know, training, role play, and just simplified. So in 2015, we took a leap of faith that we had five or six lead sources going. We're spending a thousand here, 500 here, 2,000 here. And Lars and I decided, you know what? Let's just focus on the one thing and that one lead source and go crazy deep. And that's what we did. So I took the leap of faith, and I was scared as hell, as that baby would suggest, and that was 2015. And the two words I focused on was basically the word simplify and consistency. That's one thing. If you can ask our team. I know we change things every once in a while, we add.

Right.

But it's still simple. We always try to make things simple and consistent. So 2016, we added a second lead source, and we went to 175 deals. So I hear a lot of people talk about, oh, I need 2, 3, 4, 5 lead sources. You don't. It's about going deep with what you have, understanding what you have, and going really deep. So 2017, we did not add lead sources. We went crazy deep with what we had. Got better scripts, got better at our scripts, and we went to 225deals last year. All right, so the two things I want you to ask yourself and write down as takeaways and give this some thoughts, is if, as a team, you took your SOI and past client business out of your gross commission. This is for agents, team leaders.

Right.

And then you measured your ROI for marketing sources. What would your numbers look like? So those dollars you spend on a monthly basis on the marketing.

Right.

What is your true roi?

Okay.

And that's your lead sources. I know I coach a handful of you guys in here, and some of your businesses are 70, 80% on the SOI past client referral. That's awesome, right? I didn't have that. So we had to start deep with Lead Gen. And when we did that, it was either sink or swim. When you start dropping thousands of dollars a month on Lead Gen, you better be damn good on the phone or you're not putting food on the table.

Right?

So if you take those numbers out, your sphere of influence and past clients, and for some of you guys who don't have that business, right, take those numbers out. Or even if you do take those numbers out and then measure against that. Number two, how are we as a team? Converting leads, managing leads, managing appointments set met and getting clients to sign. Becoming raving fans for life. How are we doing as a team on the big picture? So our goals for today, the underlining theme here is if you do this prospecting and you do it at a high level and your whole team does it right, life will get better. But we want to create a team around prospecting, just that team culture. And if you're doing number two, new outlook on converting leads and going deep. If you think you're going deep already, right. More than likely there's room for improvement. So if you're like me, I'm better on the front end setting the appointment. But if it's a follow up, that's not my best game. How can I go deeper on my follow up? Game number three is embracing tracking and accountability and just embracing that at a really crazy high level. We all need coaches, we all need accountability if we want to get better as agents and not spend 60 hours a week trying to sell 40, 50 homes. You know, how can we get to 40, 50 homes in 40 hours a week?

Right?

It's called getting better on the phone, better on your scripts. All right, so if you guys are ready, I don't have a video clip for this, but I'm getting ready. Let's get ready to rumble. All right, so scripts, training and converting leads. We got three topics. This is number one. All right, And I've heard a couple of you guys say this over the years and I love this quote is, your team is only as your strongest. Excuse me. Your team is only strong as your weakest link.

Right.

I know people have said that before. You probably heard it regardless if it's, you know, any sort of different organization or real estate team atmosphere. But if you really take some time to think on that and wonder where you're at in your business. And if you're an agent on the team and you don't take scripts, you don't take training serious, right. People around you feel that and you affect everyone else. So if you want. And Thomas, you said this last time and I had heard it before, but when you hear it the second and third time, it really sinks in.

Right?

A talent. Excuse me. Let's start over. C talent will run a talent out the Door. And that's very, very true, right? So you as a team are only as strong as your weakest link. And personally, if I'm making dials and I'm prospecting, I don't want somebody beside me who doesn't know what the hell they're doing, who's half assing it. It's just not a good atmosphere, right? I want heavy hitters and I want to surround myself with folks who take that serious. So when it comes to scripts, the easiest and best advice when it comes to simplifying is keeping it basic, right? Basic, basic, basic. And structure. It's simple. Don't over complicate things. It does take repetition, dedication, determination. Ask my team, they hear me say the same thing over and over. They practice it over and over, right? But it's amazing when you miss like a week or two of role play. Cause whatever reason, and then you hear somebody on the phone and you're like, wow. And they know it, right? We need repetition, right? Team leaders, they need someone to hold them accountable, to practice with them, to make them better, right? That's the reason they're there. They're there for you. Not because of brand, they're there for you. It takes repetition and termination, right? To make everyone strong and no weak links. So this is something I really like is everyone needs to buy in. This is from top to bottom, right? So our admin staff, they're in here like Lars told me. Oh, yeah, you'll be talking to like 30 or 40 people. You're right. This place is full, right? But admin, you're in here for a reason too, right? Everyone has to buy into this, right? If you're an isa, if you're an agent, team leader, admin, everyone has to believe in the scripts like Lars says. The market will shift eventually, right? And we're starting to see a few signs here and there in different markets. But the market will shift and we have to be better than everyone else if we want to continue.

All right.

I like your ninja. Yeah, I didn't put that in. That's pretty bad. So agent request lead script. So there was a handout that went out to everyone. All right, so should be page one agent request lead script. I want to talk through that. So I'm not sure how much time we have at the very end, but this one I do want to spend some time on. So I don't want everyone to go rush out and buy realtor.com leads. This is not the purpose of going here with this script. But we went deep on realtor.com in 2016 and then again in 2017 and we started to get away from every other thing. And we still have two lead sources, but realtor.com is by far our number one source. So this is what we put together, right, Is what we practice over and over and over in objections around this one script, right. There's a few other things we use, but just this one. So our opening one liner, very simple. But we always ask for an appointment up front. We want some sort of commitment, right? So, hey, this is dan with cree carolina real estate experts. I noticed you had a question on 123 Main Street. I wanted to see what your question was. And a good time to preview the house, right? We ask the question. Hey, what is your question? Just for the simple fact of being nice. Because what we really want is the appointment, right? So if there's a question, fantastic. Otherwise, let's get the appointment and let's qualify. Number two, right. Time to preview additional homes. Not are there additional homes you would like to preview, but would you have additional time? And I'll explain why that's important. The wording there is important here in a moment. All right, simple step number three. Agent. Don't want to step on anyone's toes. I assume you're not working with an agent. Pretty straightforward lender question. We always blame it on the seller. Hey, the seller will ask for a pre approval. Have you had a chance to talk to a professional lender about your options? That's simple. So we've structured this with AR. We call this AR 1 through 4, 1 through 5 with the home run appointment. So 1 through 4 is our qualifying. And let's get the appointment. We can always cancel the appointment if they're not qualified or they don't answer our questions. The best that we want them to go to. So one through five is. Is just verifying information. So cell phone number number two. Anyone else looking? Confirm. Add to the group text.

Right.

You always want to be talking to, you know, the person who's gonna make the decision. You're talking to the husband. How about the wife's decision maker? Get everyone's information.

Right.

Number three is my favorite. So if any other agents reach out to you, let them know you have an agent. And almost every time we hear that, yeah, I told them I had an agent. I got three more phone calls. But yeah, cut down on the amount of phone calls. Tell them you have an agent. All right, step four, before we get off the phone, I want to email you some additional home ideas. You Know, Please confirm you get those. We're opening lines of communication. Okay, so now we have a phone number, a cell phone number. We're verifying email address. We're going to send them home. Ideas? And then number five, we're going to text. So Lars, when we get off the phone, I want to text you. If I'm playing isa, Lars, I want to text you. And Clay, he's going to be copied on the text. And basically there's an example of a text down below, right. You can get through these steps in about two and a half minutes.

Right.

So after we get through AR 1 through 4, 1 through 5, we go for what's called a home run appointment.

Right.

So this home run appointment is. Hey, Thomas, can I make a recommendation? Sure. So if this not the house you're ready to write an offer on, let's plan on spending a few minutes immediately after the showing to talk about exactly what it is you're looking for. So moving forward, I can get you priority access to all the better deals. So we know they have time because they've already told us in step two, they have time. Now we're establishing an appointment for a sit down to get buyer paperwork signed. It's simple, it's structured. So if this script, because I know a few folks in here will say, well, I want them into our office first, I get that, that's okay.

Right?

And I'm not going to sword fight over numbers.

Right.

It works for us and we do this at a crazy high level. But this sort of script right here is what you have to practice. If this is what you're going to believe in and this is what you're going to teach on. You have to go crazy deep with this one thing. We will do probably at least 100, if not 110 sides on realtor.com. yeah, we spend a decent amount of money, but our ROI is also about eight and a half. I'm knocking on the door of nine to one with realtor.com and like I said, I'm not rushing everybody out to go get them because I'm not sure what your pricing is in your marketing. But the example here is to have that one script and go crazy deep with that one thing. I would say, any questions on this? But we'll go over this at the very end. So once you go for that home run appointment, the only thing I will add is that's the perfect time to go into LP Mama. Everyone knows what LP Mama is at this point. Go through AR1 through 41 through 5 home run appointment. And we're probably in the ballpark of four, four and a half minutes. If they've opened up to you for nine, ten questions, at that point they will tell you their life story and they will be yours forever. It's all about asking those good questions, going deep, and having a game plan and structure to do there. The next thing that we put together. So I got really tired of. So when we were doing our role play, we would have three to four topics a day. So we did our role play once a week and we started talking about the objection list. Why not come up? And Clay had mentioned this like two years ago on our team. I'm like, yeah, yeah, yeah, whatever. That's not a big deal. So we came up with an objection list and you guys should have something as well. The most common objections. So we have one for our expireds, our top 20 objections and have it documented and then we also have our top buyer objections. So have something. But everyone on the team has to be able to go crazy deep with all of these. And this are objection list and everyone has to know how to handle that. So next document that you have, flip a few pages over so it's going to say everything you need to know before getting off a buyer call. So this is basically LP Mama on steroids. So we know LP Mama's about six questions, but that's not enough. That's not good enough. So use this. This is everything you need to know. Document to see how well you did on a phone call. Use that to go deep and make sure you know everything. If someone's relocating, you know what are the parameters around what they're looking for and who they're going to be talking to. Do they know people here in the area? But these are the things how you can hold yourself accountable, you can hold your team accountable when it comes to every single lead that you speak to. So how well did you do on that call? Do you know this? Do you know that? Do you know this? But this right here is L.P. mama owns steroids. And if you use that and everyone on your team understands all the information you need to know before getting off the phone, you don't need to talk to 200 people to set three appointments. Go deep, understand their needs so you can service that client at a deep level.

Thanks for listening to the Business Freedom Po Podcast. If you're getting value from the podcast, would you please leave us a five star review and share it with others who might benefit from the content I'm sharing and if you're ready to scale your real estate business sustainably and profitably, there are a couple options for you. If you're doing under 500,000 in annual GCI, our business foundations Program is for you. Head over to getbusinessfoundations.com that's getbusinessfoundations.com and learn how you can make the shift from overwhelmed real estate agent to true business owner. If you're doing more than 500,000 in annual Team GCI, there's our graduate program designed for top producers and team leaders who want to grow their team and scale their business. If that's you, go to realestatebschool.com and apply for a free Business Growth Strategy session. No matter where you are in your business growth journey, we have the tools, systems, strategies, training and coaching to get you where you want to be. Remember, only you can create your future.

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