A real estate strategy to generate five commission checks from one listing: selling it, helping the seller buy next, getting referrals, capturing buyer leads from ads, and marketing to neighbors for new listings. Build systems around each opportunity to cut marketing costs from 12-15% of revenue down to 6-7%.
Questions this video answers
(1) Sell the listing; (2) Seller buys another home (or referred out); (3) Receive a referral that closes; (4) Buyer lead generated from advertising the listing; (5) New listing taken in the neighborhood from neighborhood marketing.
They reduced marketing spend from about 12–15% of GCI down to between 6–7%.
rebschallenge.com
Have you ever heard the expression listings make babies? What does that even mean? How cool would it be to be able to turn a single listing taken into five commission checks cashed? That's what I'm going to go through on today's video. Make sure you stick around. Also, I want to invite you into our challenge later in the video where I'll teach you exactly how to blow up your business without giving your life away. If you liked the video, give me the thumbs up. Make sure you subscribe to the channel and turn notifications on. And also leave comments asking any questions about any of the content. When I look back on the people that have influenced me in my business growth journey, Dan Sullivan Strategic coach I was with Dan for about three years in his highest level program and I was able to literally in passing connect with a guy called Dean Jackson. And Dean Jackson is probably one of the smartest marketers that I know. And I knew him, he didn't know me. And we passed each other. I'm like, hey Dean, you know I'm a fan of your stuff. He actually markets, he does some things to the real estate industry. So I knew him through that. I'm a geek when it comes to marketing and systems and leverage through marketing. And I believe marketing is the ultimate leverage. And he passed me. He said, we're trying to figure out ways to leverage a listing. So we focus on taking listings, which is same thing real estate B school does. He said though he had his members go back on their last 10 closings. How many other closings could could they link those to? So what leverage, you know, does a single transaction bring in? And basically to score that listing taken, I think he had them focus on listings. Did they get additional closings from that? The conversation with Dean lasted maybe two minutes. And me in my brain, I'm like, man, there's a scorecard here. You know, there are building out the systems to get every one of the five commission checks. I'm going to go through those with you. Everything needs to be in a scorecard as far as I'm concerned. So what we did in our business, we started a process whereby every time we take a listing, we track the life cycle of every piece of business generated from that listing taken. So let me give you an example. So we sign a listing on 123 Main Street. That's number one opportunity to earn a commission check selling that listing. So that's one out of five. Number two is that seller probably has to buy another home either locally or to refer them out to another Market. That's number two. Number three is to do such a good job in that transaction that you get a referral that closes. So that's number three. Number four is the fact that you take that listing. You could leverage that listing through yard signage or online marketing to generate a buyer lead that closes from that listing taken. So that's number four. Number five is you could advertise that listing or hold an open house or hand out flyers or door hangers in the neighborhood to generate a listing taken in the same neighborhood or in the same area that closes. So you take the listing and sell it. You help that seller buy a home, you get a referral that closes from that, from that initial client. You find a buyer that closes from advertising that listing property. And then you get a sell seller in the area or the same neighborhood. There are five commission checks available for every listing you activate. So this awakening allowed our business to focus literally on one thing. It's to get new listings and to build processes for every other commission check. We have all the client care processes to generate a referral. We have the questionnaire to make sure that we know where that seller is moving so we can help them as a buyer. We have, we have the yard marketing, the open houses, online marketing that we do to generate buyer leads. And then we do certain things in the neighborhood. Open houses, door knocking, flyers in the neighborhood, direct response postcards in the neighborhood. When we take a listing, all the other systems happen and we were able to improve our ratio so we don't get all 5 commission checks every time, but we more than doubled the amount of commission checks that we get. Not spending any more money. This allowed us to go from about 12 to 15% spend marketing spend in terms of as a percentage of GCI down to between 6 and 7%, which is for a multi million dollar real estate team. 6 to 7% on advertising lead gen and marketing is unheard of, right? The real estate teams that scale, they scale their top line but not their bottom line. I know local teams that will do twice as much real estate as we do in a single year. Yet they're spending $150,000 a month on mass media, almost $2 million a year on radio and TV. Yeah, they may have 5 million top line, but I promise you they don't net seven figures. And the owners of those teams, because I know many of them are still selling 75, 100 homes so they can make any kind of decent money. When you take a listing to turn it into as many commission checks as possible, it's is going to give you so much freedom in your business. Hey, if you're at the point in your journey where that was just a cool tip, you've got to join us for our next challenge. Just go to rebschallenge.com there'll be something that pushes your top line of your business that will bring your hours down, that will alleviate some stress in your business. Go to rebschallenge.com if you like the video, give me the thumbs up. Subscribe to the channel, make sure you turn your notifications on and as always, leave me comments so I know you're out there and that I'm serving you at the highest level. We'll see you in the next video.
