Lead Generation

3 minutes
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The Path Toward Real Estate Success: Lead Generation

Joshua Smith Mar 20th, 2020
Real Estate Advice
Joshua Smith
Lead Generation

Only 7% of realtors conduct 93% of all real estate business.

The unfortunate reality is that the vast majority of realtors do not understand the amount or type of actions that are required to generate business.

But all is not lost.

You have come to the right place to learn how to grab a slice of the massive amount of business that top agents and teams are responsible for. There’s plenty of room for an agent who is willing to work relentlessly with the right tools and appropriate knowledge.

Perhaps the most foundational concept for building a real estate business is effective lead generation systems and data tracking, so let’s start there.

Consider these stats:

-The average realtor converts .5% of leads into a closing.

-Top realtors with world class follow-up convert 3% of leads into a closing.

So let’s split the difference, and say you can convert 1.75% of your leads into a closing, or basically one for every 60 leads. To convert at this level, of course, you must know how frequently to follow up with leads. More on how to conquer lead follow-up here. But you can do a rough calculation of the amount of leads you need to convert one closing, so you know how many leads you need to accomplish your goals.

Let’s say your goal this year is to close 36 homes. Based on the above conversion rate, you must generate at least 2,160 leads this year to hit that number.

You can them break things down further for more easy to manage targets. 180 per month. 44 per week, if you take off two weeks per year. You can even take it down to leads per day, if you would like. The important thing is to stay on track and make sure you are regularly hitting your numbers.

IMPORTANT NOTE: The only way to win the year is to win enough months. To win the month, you must win enough weeks. To win the week, you must win enough days. So every morning when you wake up, just think about winning the day. Every day.

Always break your numbers down so that you know if you are winning the day. Successful businesses, after all, are built on predictable and practical systems. And in real estate, lead generation is the number that fuels your growth.

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

3 minutes
Leading a meeting through glass

The Path Toward Real Estate Success: Breaking Down Lead Generation

Joshua Smith May 22nd, 2020
Joshua Smith
Lead Generation
Making Money in Real Estate

It all starts with lead generation.

You can deliver amazing service to your clients, you can know the contract inside and out, you can know how to look out for your clients’ best interests, BUT if you can’t generate a constant stream of leads, you won’t have the chance to excel at the preceding tasks.

So, how do you generate a steady stream of new leads?

You have to start by acknowledging the importance of generating new leads. Every single day, you must make new people aware of you who were not aware of you yesterday, offer those people something of value in exchange for their contact information, and then follow up with them frequently. The essence of lead generation and lead follow-up.

Most realtors make two BIG mistakes make with lead generation: #1: They do not make lead generation a daily priority, and #2: They pursue too many lead sources.

A different approach:

#1: You must make lead generation a daily priority. You have to wake up each day with a plan in place to generate leads. Block off that time on your calendar. You must become intentional each day with your lead generation.

#2: Success is not found in doing 1000 things but in doing a few things brilliantly, thousands of times. Don’t try to focus on having twelve lead sources, but instead, focus on three or four. Do those three or four things constantly to become world class.

What is the best lead generation source? It doesn’t matter. The only thing that matters is your consistency and willingness to generate leads day after day. The best source is the source you enjoy, and the one you will continue to use over and over and over. 

Identify your personal strengths, and then identify the lead generation methods that align with your strengths. For example, if you love talking with and networking with people, then try joining local networking groups and working those groups for new leads. If you are more introverted, and don’t like networking, try Facebook lead generation.

If you study all the top producers on the planet, they have different lead sources, of course, but the one factor that runs through the most successful realtors in the industry is a willingness to be radically consistent.

A magic lead source has yet to be invented. You must plan to win with consistency.

Your lead generation task list:

#1. Break down your personal strengths.

#2. Identify three to four lead generation methods which align with your strengths.

#3. Block off daily time on your calendar to intentionally work those lead generation methods.

#4. Go build a constant stream of new leads to fuel your success in the real estate industry.

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

5 minutes
A white house with a big tree with some sun peeking through.

The Path Toward Real Estate Success: Effective Open Houses

Joshua Smith May 29th, 2020
Joshua Smith
Lead Generation
Making Money in Real Estate

I am not sure why, but a lot of realtors believe in the myth that open houses are only for those just entering the business.

The fact is that open houses are one of the most effective ways to generate business in real estate.

But why are open houses so effective?

You have potential buyers and sellers coming to you.

Those buyers and sellers have already identified where they want to live, and/or the fact they want to sell.

You are instantly face to face, and have the ability to interview for the job right there.

But you can’t just put up a sign and hold an effective open house. Here’s what must be done to develop an effective open house strategy:

#1: Identify an area, and be consistent with it. Think of open houses as your “storefront” where you get to set up and meet potential buyer/seller clients in the area you want to work. Most realtors do open houses all over the place, which is a mistake. Instead, identify an area in which you want to build up market share, and then hold consistent open houses in that area. Current homeowners then begin to see your open house signs set up every weekend there, which increases consumer confidence as potential clients are seeing your name on a consistent basis. So pick an area and start to build your brand.

#2: Signage matters. Before you dive into this aspect or your open house strategy, make sure you check with your local government to see if there are any sign restrictions. If you do not have any sign restrictions, putting out 30+ signs will greatly help increase your brand awareness and drive more traffic to your open house. If you are located in an area with a sign restriction, do not get discouraged, as all your competition (other realtors) are held by the same restriction.

#3: Pre-market the open house. Run a targeted Facebook ad for the area for three days leading up to the open house. Create a neighborhood open house flyer, and hand deliver/door knock the closest 400 homes to your open house.

#4: Set up properly. On top of the 30+ signs placed around the neighborhood, also, purchase a couple tall, attention-grabbing open house flags to put in front of the property. You will get a lot of attention from people currently living in the area, but that is good. When they think of selling, you want to be the first person that pops up in their mind.

#5: Also, put a sign on the door that says, “Per Sellers Request Please Sign In,” and also place this sign on a table just inside the door and have your “Guest Registration Sign In Sheets” at the same table. And don’t forget to include a nice property flyer with all the property information, as well as the different mortgage payment options.

#6: The Tour. Once visitors have signed in, give a thorough tour. You can’t, of course, give a tour to everyone if the open house is really busy, but focus on giving a great tour to those you are able. Ask engaging questions where you can connect with them and identify their goals. Example questions: “What is it about the area you like so much?”, “Do you work near by?”, etc.

#7: Ask for an appointment at the end of the tour. Say something like: “So, what do you think about the property? Does it meet your needs, or are you looking for something different?” (Most will say they are looking for something different as ½ of 1% of homes sell from that open house). In that case follow up with something like: “Great, just so you know, I am not here to just sell you on this house. I am here to identify what your goals and needs are, and if this house meets those, then great, and if not, to identify what your goals and needs are, and then to find you exactly what you are looking for. Based on what you have told me what you are looking for, I know of several homes which I am confident will meet your criteria. I get out of here at 4pm today, and can meet you then to go show you those other homes. Is that something you would like to set up?” Most will not want to set an appointment right there, but if you ask enough people, you will absolutely get some that say yes. Read more about leading from a place of contribution to turn more conversations into appointments here.

#8: Put everyone into your database, and follow up. Read more on effective lead follow-up here.

If you plan, setup, and execute correctly on your open houses, you will absolutely get great results, so follow these steps, and go dominate your real estate business with open houses!

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

5 minutes
Meeting around a laptop.

The Path Toward Real Estate Success: Facebook Lead Generation

Joshua Smith Jun 19th, 2020
Marketing
Marketing
Mastery

The average Facebook lead is 6.7 months out from working with a realtor.

But that’s true for all online leads and not just Facebook. You will, of course, get some leads ready to move ASAP, but those will be the exception. Consider Facebook leads as a great way to build up your pipeline. And please keep in mind that you are wasting your time and money with online marketing unless you have your lead follow up strategy dialed in to ensure you convert the highest amount of online/Facebook leads as possible. More on follow-up here.

Steps To Be Successful with Facebook Lead Generation:

#1: You need a website which allows potential buyers to run their home searches from your site and allows potential sellers to request home valuation reports.

#2: Your website must have a lead capture tool. For best results with buyer leads, you want a pop up forced lead registration box that will show up on the first website click. For sellers, you will need a lead capture tool that requires a property address along with name, email, and, potentially, phone number.

#3: The ability to install a Facebook Lead Conversion Pixel on your website, which will allow you to track your true cost per lead and see who is converting at the best rate. For example, you can see if it is men or women, age range, desktop/mobile device, etc. The pixel is very important!

#5: Once your site and pixel are set up, you need to make sure your potentials leads land on the right page, which is always the page your ad promises. As an example, if you are running an ad for: “Single Family Detached Homes in XYZ City with Swimming Pools”, the page they land on must feature single-family detached homes in XYZ city with swimming pools. Once you create the landing page search on your site, copy that URL link and take it to Facebook.

#6: Understand the picture is 50% + of the success of the ad. You have two seconds or less to capture your targeted audience’s attention while they are scrolling on Facebook. The picture is always the best way to get their attention.

#7: From your business page Ads Manager, choose “Conversions” as your ad type. At the end of the day, all that matters is your cost per lead, which will allow you to know/track your true cost per closing, AKA ROI, on this lead source.

#8: Run multiple “Ad Sets”, AKA split test. For example, run an ad to: Women Mobile Newsfeed, Women Desktop Newsfeed, Men Mobile Newsfeed, and Men Mobile Desktop. So you can get more targeted with “Interest/Behaviors” if you choose to. 

#9: Select your image, and then add your URL, along with your “Headline” and “Text”. Facebook is backwards, as they have the “Headline” below the image, and the text above the image. Remember, the picture catches attention. Then, the headline and text exists to create curiosity, so the potential lead will take action, and click on your ad.

#10: Select a “Call To Action Button”. You can’t go wrong with choosing the “Learn More” button.

#11: Now, this is a more advanced technique, but you can go into “Power Editor”, and re-create the other Ad Sets as discussed in step #9. You can also test numerous photos inside Power Editor. Quick Tip with Power Editor: You must use Google Chrome to operate Power Editor.

#12: Start small and scale up slowly. I recommend starting at $5 per day, per ad set. Let the ad run for a couple days, and then shut off the non-performing ads, and then slowly scale up the performing ad sets. Always scale up slowly.  25% every few days is a good rule of thumb.

#13: If your Facebook Pixel is installed on your website, make sure to use/watch the “Demographics Tool” inside Ads Manager, which will allow you to see what age group, etc. is getting you the best cost per lead, and you can make adjustments accordingly.

If you are new to Facebook Ads, I know this is a lot of info and can be confusing, but it is well worth taking the time to learn. The great news is, there is a ton of free “How To” content on YouTube. Now that you know the important steps to be successful with your Facebook Lead Generation, you can start doing research, if needed, to dial in each step.

Facebook continues to grow and is not going anywhere any time soon. It continues to be more and more effective for Real Estate Lead Generation, and can help you massively grow your Real Estate Business!

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

4 minutes
Young professional demonstrating strategy via post it notes.

The Path Toward Real Estate Success: Less Is More

Joshua Smith Oct 9th, 2020
Joshua Smith
Lead Generation
Making Money in Real Estate

I talk to realtors almost daily, and I regularly hear this type of sentiment: “I am calling FSBO’s, expireds, doing circle prospecting, doing open houses, running Facebook Ads, and just started investing in Zillow, but I can’t seem to get anything to work.” 

You’ve heard the saying jack of all trades, master of none. To become great at anything, you must put in massive amounts of practice through repetition. When you are taking on too much, you will never have the time to get proficient at any one thing, and you will end up doing everything with mediocre focus, attention, and effort. Which is the recipe for mediocre results.

What if, instead of taking on everything all at once, you just started with one method of lead generation? You focused on that one thing, became amazing at it, and once your system was fully mastered and dialed in, if time permits, you then added something else and followed the same approach? 

Let's take an optimal open house strategy as an example:

1.) You take the time to do your research and find the right property inside the right area for your open house.

2.) Four days before, you door knock and deliver 500 neighborhood invitation flyers to the open house.

3.) The three days leading up to the open house you run a targeted Facebook Ad promoting the open house. 

4.) At 6:00 on the morning of the open house, you set up all your signs and take the time to make sure you have the right amount of signs to get attain and that the signs are placed where drivers will notice them.

5.) You show up one hour before the open house to make sure the house looks great, set up your welcome table, sign-in sheets, flyers, promotional materials, etc.

6.) You take the time to ensure everyone is registering with their information, or as many as you can get, and then take the time to give an amazing tour while focusing on the human connection.

7.) Then, with every person to whom you are able to give a tour, you strategically ask for an appointment.

8.) Before you pack up the open house, you create a quick thank you video and text it to everyone who attended.

9.) Right after the open house, you go immediately back to the office and input everyone into your CRM, set everyone up on a strategic email drip, set everyone up on a home property alert search, and send everyone another thank you email.

10.) Then, on Monday, you call everyone who attended the open house, and then call them every seven days, for three attempts, and then every twenty one days after that.  

The above ten steps are just an example, but you can see that if you take intentional and strategic action, combined with extreme focus and massive action, you quickly will master that activity and quickly get amazing results.

I am, by no means, saying to not have multiple lead sources, but before you add a new lead source, reflect and analyze what you are already doing and make sure you are mastering your activities. 

By doing less, you are actually able to do more. Do not approach anything you do with only an average amount of action. Instead, take massive action, which will absolutely produce massive results.

Massive Action = Massive Results!

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

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