Real estate teams need systems for both buyers and sellers. On the buyer side, most leads convert after 90 days, not within it, so drip campaigns matter more than quick closes. On the seller side, automatic price reductions at 45 and 90 days on market drive results more than anything else.
The third point of leverage is people and systems, the buyer system listing system. So there's a few tools that you must employ on each of those sides of your business. So I'm going to cover real quick. Buyer system here. Lead gen is not really an issue for most of us. The two main ones I use now are Boomtown, Pay Per Click and Craigslist. So Boomtown, Pay Per Click and Craigslist onto the Boomtown platform and then Zillow and Zillow. It's still working well for us, although I think in recent months I think it's been slowing down. It could have been some of that stuff that they've been changing. Lead conversion. It's all about scripts and dialogues and the activity of actually making the calls. Lead management. I was talking to Damon recently and he was listening to I Love Marketing. It's a podcast with Joe Polish and Dean Jackson and they made a comment in a podcast that 15% of online leads transact in the 90 days from the time they registered and the other 85% are 90 plus days. So if you think about that with respect to real estate, your ability to keep in touch with your leads, let alone prospects long term are going to have a big impact on your business. And we're actually working with Frank at Vyral to develop an email drip campaign for that's sort of content marketing base that's going to help us convert more of those buyers that aren't ready to transact when they come on the website. Then a buyer presentation, buyer loyalty agreements, the packets to list your buyers and then buyer client servicing, all of that. None of this should be a surprise to anyone, but some of you aren't running the basics of the buyer system. In terms of the seller system lead gen, we covered some of that lead conversion. It's mostly going into that seller info sheet, having a listing process. So for those of you that have given up buyers, made that commitment, now you're looking to give up your listings. It's having that process around you to maximize listing success rate and obviously get more referrals authority before you get there with a pre list packet, a marketing presentation, listing packet, listing management. I don't we, I think we beat this one down pretty good. In a Facebook thread about pre listing materials. It doesn't really matter what you send. You just have to send some things, you know, regularly. We, we send out a cover letter, the 151, the max payoff guide and the resume. I think we're and I think maybe in the pricing guide I'M looking at doing a post. If we don't take the listing, we're going to send out another packet. You know, you'd be surprised once you start doing this how many people have the materials out. And pretty much everyone is interviewing multiple agents now. So to be able to differentiate yourself is it's very important. On seller client servicing, we had another Facebook on this one as well. Daniel Beer commented about how important it is to communicate with your clients even if you've already signed them and they haven't gone on the market yet. So I think in his instance it was he was working with a builder and he had signed the builder or something like that. It's like a three and a half million dollar listing and he hadn't reached out to the builder consistently while the home was being completed or something like that. And the guy fired him. It's like $110,000 lost because of lack of communication. So weekly calls are an absolute must. And we do it every Monday. We give them by the end of the day, I think 3pm Our two listing agents meet with Cherie to fill out the listing inventory balance sheet. All right. Monthly reviews obviously I'm even getting involved with our listing agents on monthly market reviews. So it's that important. The activity of working with the seller to get to the right price where activity is the result and an offer comes that is high dollar productive activity. You've already spent all the marketing dollars, all the effort to get them on the market and there's so much sunk cost at that point that you've got to follow through. We've been really good at this lately. We we'll pull up our listing inventory balance sheet and reverse sort. Do active and sort by days on market. And its color, it's conditionally formatted the one that's on the Google Drive to show when it goes to 45 days it turns yellow that sell and then when it goes to 90 days it turns red. So we're getting on the phone with everyone that turns yellow and we're beating them over the head for a price reduction. Had a coach once tell me it's always price, you know. So why isn't the home selling its price? No, why isn't the home selling its price? It's. It could be condition, but you can always trump condition with price. If your seller's not willing to make adjustments to condition of the home, it's price. It's never your marketing. You know, there are things you could do, but the bottom line is that if you take good pictures, you've got it on every website that a buyer searching and you're actively marketing the home, then it's always going to be price.
