The First Step In Scaling Your Real Estate Business

Are you generating enough leads to literally 10x your business? No matter where you are right now in your business, if you're selling 20 homes, are you generating enough leads to go to 200 transactions in a single year? If you're selling 10 homes, can you go to 100 homes? You know, focusing on lead generation, it is the number one thing you need to focus on before anything else in your business. I call it creating the problem. Right? You want to create the problem of having too many leads to service that will force you to get better at every other aspect of your business. You know, stick around to the end of this video. I'm going to go through, you know, my business growth journey, how we coach our members. I call it the real estate business growth Navigator. So stick around. If you like the video, give me the thumbs up. Subscribe to the channel and make sure you turn notifications on so you're the first to know about new videos when they drop. Most real estate agents fail to scale their business because they don't focus on lead generation pillars in their business. I think of these as oil wells. You know, if I can drill a lead generation pillar, an oil well that's good for 50 transactions, that's my mindset around any lead generation pillar and that I commit to putting into my business, to installing my business, it has to be good for 50 transactions so that oil well is worth setting up in my market. The average commission check is $10,000. What's the average commission check in your market? And if you can generate 50 transactions from every lead generation pillar, that's $500,000 of gross commission income. If I can do that one time, two times is a million, three times is a million, five, four times is $2 million in gross commission income. And we're about a $3 million real estate team. We only do about five or six things and most of them are not even paid. And so on today's video, I wanted to go deep into the first driver in terms of the way we teach agents to go from sort of just grinding at agent status to owner status. The first key driver is attract and it's creating enough opportunity with your lead generation pillars. We call these lead gen levers in your business so that you never have the problem of not knowing what to do when it comes to new business development. And if you don't know what new business development is, that is following up with all of these opportunities, all of these buyers and sellers that are coming into your world looking for advice or information on a property or a free home Evaluation. So as we unpack the attract driver, there's three elements that we need to consider. Number one is database marketing. This is a million dollar income pillar in your business and I need you to treat it that way. I don't care what your database is doing right now. In the future, if you treat this thing the right way and you nurture this thing, it will reap a million dollars or more in gross commission income. And it doesn't require a lot of time to do it. I put about 30 minutes in to my database and referral marketing system once a month and that's all that I need to do in database marketing. So there's a few elements here. Number one is that you have to build your database from all the different sources of information. Your phone, Facebook, your Google account, where are all of your contacts, People that already know you, that like you and trust you. You have to get all of those systematically and really every day. Spend a little bit of time building your database. The only reason you'll do that is if you believe it's worth a million bucks. Otherwise this is painful work. So give yourself some emotional leverage and think of it as I'm building out a million dollar income pillar in my business. And so first thing is build it and then you feed it. This is, you know, how can you communicate with your database over time? We call this our clients for life program. There's roughly 55 to 60 low cost, high impact items of value that we send out to our database on a regular basis. There's a, we just added a print newsletter, there's an electronic newsletter, a bunch of social media stuff that we do. There are events that we invite our folks to, we call them, we just do a bunch of things to nurture that database. And none of it's really harshly asking for referrals. It's just adding value. And as a result of adding value, we're able to receive in return through the form of referrals. And then two more pieces here is, I mentioned a little bit social media and social proof. So as you're servicing these clients, helping your buyers, helping your sellers, getting them successfully to the closing table, you know, are you asking them to say good things about you online? You know, we have close to 1300 five star reviews at this point and they didn't cost us anything to get those reviews right. We just did a good job and we said, hey, can you say some nice things about us? And that's about as simple as it was. And so are you putting together social proof so that Social proof feeds the engine. It's this virtuous cycle as we call it so you can generate database and referrals from your database. That's number one is database marketing. Number two is is listing marketing. What are the high impact listing sources that you can employ in your business to generate listing opportunities? Listings is pretty much the hundred percent focus of our business. We want to have a 60, 40 listings to buyer business. Right now we're at about 65% listings. And so as you look at your business, do you have listing lead gen sources in place that are working? First one is expired. I don't care what kind of market you're in, there are always expired listings. It is always best to be the second or third agent, right? Even in a hot seller's market there are sellers that are too aggressive with pricing and it doesn't end up selling their property. And so expired still work. In a tight market we get more than one call a day from our expired direct response marketing system. Same thing with for sale by owners. There are for sale by owners that aren't going to get enough exposure on their listings and in any market. And you have to have a system in place to not only mail to them but to also reach out and talk to them and talk to them about their situation. And then circle prospecting around listings that you take, right? Not aimlessly circle prospecting but what could you do? Could you door knock 100 doors around every listing that you take? Could you hold an open house exclusive to area homeowners to allow them to pick their neighborhood? You know, be creative with your listing marketing. Also some of the social stuff plays in here. You know we if you search best real estate agent Charlotte, North Carolina in the map view, my real estate team shows up high performance real estate advisors. And it's not because we paid a bunch of money to an SEO, you know, search engine optimization firm. It's simply because we have close to 600 five star reviews on Google. And so that's a listing marketing strategy that we're using. And then lastly it's buyer marketing and I have to stop you right here. Buyer marketing is not paying Zillow or you know, grinding out low quality pay per click leads or giving money to realtor.com it's not any of that. This is attract, we're talking about attracting high quality buyers. And there's a few things we do here. Number one is yard marketing. Focus on taking listings. And then we have a yard marking system where we have three yard signs, our front yard, the front yards of our market of our listings are a little bit busy and there's specific psychology that we employ with these different yard signs that have tripled the call volume on our listings. So we've tested it with a single yard sign and then three different calls to actions or or yard signs and our call volume tripled as a result of it. That's probably our most powerful buyer lead gen pillar. Second one is open houses. Little bit of a challenge with the pandemic, yet we've gone virtual with open houses. How can you generate interest and opportunity even if that's not the property that a buyer purchases? But you hold an open house, you put out the proper signage, you can get 30 to 50 to 60 plus buyers through every listing, right? So as you think about the opportunity with your listings, listings have babies, the babies come through the form of buyers and it's that yard marketing that you have the opportunity to truly crush in your business. So as you think about database marketing, listing marketing and buyer marketing, you know what are those lead sources that you could put in place that can allow you to have more opportunity than you can possibly handle to. That's your only way of scaling your real estate business. If you're honestly focusing on putting in these lead gen levers with you only need two lead gen levers to go to 100 transactions, three to go to 150, four to go to 200. In real estate B school we teach you to go really deep versus wide. I know agents that are selling 50 homes a year. They're super busy, they're not very profitable. They because they're selling 50 homes a year on 10 different lead sources, eight of which are paid for. And there is no profit, there is no longevity, there's no sustainability in that game. It's not even a game worth playing in my opinion. You know I mentioned earlier if you're at the point in your journey where man I wish there was this guide, this roadmap to the different stages of growth. There are actually six stages of growth. We call it the real estate business Growth Navigator. I based it on my journey. Yet more importantly, our most successful members and their journey to go from agent to owner in their business, go to realestatebusinessgrowth.com that's realestatebusinessgrowth.com or click on the link below. If you like the video, give me the thumbs up. We help, we appreciate it because it helps us with Google. Subscribe to the channel and turn notifications on so you're the first to know about videos when they hit and, and I'll leave you with this last thought. Always think about like, where do I need to create the problem in my business? When I think about a business in terms of your ability to attract, you know, people in, convert them to clients, deliver on the thing you promised. Putting those things in place gives you the ability to scale your real estate business. So let's create the problem. Let's figure out how to generate low cost, high quality buyer and seller leads that will allow you to 10 10x your real estate business. We'll see you on the next video.