When individuals come to your buyer site and would like to view properties, we typically have the following options:
1) Let them view all of the properties on your site, as many times as they like, without needing to register (provide their contact information such as name, email, phone).
2) Force them to register with their name, email and phone number BEFORE they can view any properties on your website.
3) Give them a few “free” properties views before requiring them to register. Typically, most website owners will give anywhere from 2-5 free property views before hitting them with the registration popup.
So which one is best? There are varying opinions, however in my mind there is only one CORRECT answer: Forcing them to register before they can view any properties on your website.
First off, many of you are probably thinking right now “but they will just go use Zillow because they do not require registration so why should I?”. In my opinion that is flawed thinking. Zillow isn’t exactly worried about what you are doing, so why should you worry about them? Besides, we are talking about individuals that are on YOUR website and how we are going to handle them. Most likely, you only have ONE SHOT to collect their lead information before they are gone forever, never to return, so we need to take our best shot at collecting their information before they leave. There are endless website options in every single market to search for homes, so I wouldn’t expect any “website loyalty” from these individuals, or for them to remember your website and to come back on their own. Additionally, you PAID for the traffic that lead this person to your website. So why give them unfiltered free access without asking for anything in return? The entire reason for you to have a buyers website in the first place, that you have to pay your website provider for every month, which you pay for the traffic to send there, is to generate leads for you correct? So why not let the website do its job and actually collect those leads as it’s meant to? Your buyers website sole purpose is to generate leads! That’s it. Let your website do it’s job!
The biggest excuse that I’ve heard many times over the years for not requiring forced registration is always along the lines of “I had a buyer lead call me on the phone and say the only reason that he was going to work with me was because I did not require registration on my website. He said that he hates that and would never work with a Realtor who required registration up front. Because of this I sold him a $1 million dollar home, and received a $30,000 commission. I would never have sold that home if I used forced registration”. My response? That’s fantastic. You sold a $1 million dollar home and made $30,000. BUT….how many leads did you miss out on because you didn’t require registration, and how many homes could you have sold if you did? How much more money would you have made if you had gotten more leads and the ability to work with more buyers? I guarantee A LOT more than $30,000. Guaranteed.
As far as giving away 2-5 “free” property views before requiring registration, I also think this is a mistake. I understand the intent and the thinking behind it, however I think it has the potential to do more harm than good. For many people if you let them view 5 properties without registering, and then on the 6th property view attempt they are blocked and hit with the registration screen, they have the potential to feel confused and upset. I’ve even heard feedback that they might think your site is broken. This isn’t exactly the message that you want to convey to potential clients.
This has been tested countless times over the years not just by myself, but also by some of the most successful internet real estate marketers in the world. There is a reason that the VAST majority of successful real estate website owners require registration. Because it works!Read More
I just got a $470,000 listing I got off of Prime Seller leads! Our MLS average closing price is about $130,000, so this is a premium listing. The seller texted me an answer from my initial automatic text, and it all worked out.
From almost 15 years of experience specifically working with Internet real estate leads, I can tell you that there are 3 different types of agents:
1) The 1% agent – this is the “average” agent who is going to turn 1% of their internet leads into actual commission checks whether they be with buyers or sellers. The 1% agent typically only puts forth an “average” amount of work, and prefers to work with RIGHT NOW buyers or sellers. The 1% agent might make a few initial phone calls, and then stop calling whether they do or do not make contact with the lead. If they do happen to get the lead on the phone, they typically are only interested if the lead is ready to buy or sell RIGHT NOW. If they are 6 to 24 months out, they promise to call back and follow-up but very rarely do. The 1% agent typically does not have any sort of plan for making initial contact with their leads, and very rarely has a follow-up system in place, either by phone or drip email campaigns.
2) The 2 – 3% agent – this is your higher end agent who is going to turn 2-3% of their internet leads into actual commission checks whether they be with buyer or sellers. The 2-3% agent puts forth a MUCH greater amount of thought, and work, into working their leads. This type of agents has a VERY specific plan on initial contact, and follow-up, when working their leads. This agent does not mind in the least working with leads that are 6 to 24 months out, and see it as an opportunity to fill up their pipeline for the next 2 years. Their thinking is, of course I want to sell a home or take a new listing 6 months from now, so why not cement the relationship right now?
3) The 5% (or higher) agent – I call these super high-end agents the ROCK STARS of Internet real estate. I’ve personally worked with many of these types of agents. Some times they are a team leaders, however just as often they are members of a large or small team, or even work independently. It really doesn’t matter because ANYONE can be a 5% Rock Star agent. These 5% agents tirelessly call their leads, and have a very specific plan in place for initial contact. Most 5% agents call their leads within minutes of receiving the lead, and call twice per day, Monday through Friday, for 2 weeks, while leaving one voicemail per day. These agents also have very specific drip email campaigns setup for various different scenarios such as bad phone number campaigns, talked on the phone but 6 months out, talked on the phone but 12 months out, talked on the phone but 18 months out, talked on the phone but 24 months out, called twice everyday for a week but no contact made, called twice everyday for two weeks but no contact made, talked on the phone but not sure what their plans are, etc. These agents provide a superior level of service. The absolute one COMMON trait I see with all of these 5% agents is that they are animals on the phone. They don’t give up. They keep calling. They aren’t afraid of rejection on the phone, and even welcome it because in their mind a lead telling them to stop calling and that they aren’t interested in buying or selling is VALUABLE information for them. Think about it – if a lead tells you they aren’t interested you aren’t using your valuable time to keep trying to make contact with someone who has no intention of ever working with you. You then focus on working the leads in your pipeline that you do have a chance of working with.
There is absolutely nothing wrong with being a 1% Internet Real Estate agent. The vast majority of agents are in fact 1% agents and can make a very good living. However they are putting a lot of money in their competitor’s pockets by not working their leads properly and thinking LONG TERM.
So how do you make the jump from a 1% agent to a 2-3% agent, or even 5% agent?
Get systems in place for working your leads – and follow them religiously.
Call, Call and then Call some more! Try and call your lead within MINUTES of getting the lead. Keep calling twice a day, for two weeks leaving one voicemail per day. PRO TIP – text your leads! You’ll be amazed at the response you get.
Make sure to use various drip email campaigns. Set up different campaigns for different selling time frames and situations.
Think Long Term! Don’t neglect sellers who say their time frame is more “long term” – between 6 and 24 months. If you do you will be neglecting and throwing away the vast majority of your potential listings!
Send every single one of your leads a personalized 30-second introduction of who you are and how you can help them! Take advantage of technology that sets you apart from other agents. BombBomb is an amazing tool at an affordable price – use it! You can easily create a quick personalized video right from your cell phone. It doesn’t have to be fancy – in fact the more “real” the video looks, the better!
What type of agent are you? If you are a 2-3% agent or a Rockstar 5%+ agent what advice would you give to a 1% agent to reach the next level?Read More
Soooooo. Went on that 500k listing Lead appt. I got the listing but he wants to buy a million dollar home too 😳😳😳😳😂😂😂🤣🤣🤑🤑🤑🤑🤑
I know that’s not normal but I’ve been with psl for 30 days hahah. Stoked!
Sharing so those that might be discouraged will just keep following up.
On my second week now with Prime ISA and so far they have had 6 leads contacted that are not quite ready to buy or sell at this time, but they have let us know that they are interested in meeting with you in the near future! and are interested in listing.
I have contacted three of the leads with follow-up and have booked one appt the end of the month for a $400K SELLING appt. We don’t list properties, we SELL properties.
Some of these are old leads and some are new Facebook Home Evaluation campaigns. I am currently running two campaigns and spending only $15.00 a day per campaign.
For July 3rd thru the 9th, we got 18 leads and only spent $30.00 at $5.00 per day and that was July 4th week which is vacation time.
The leads quality we market on Facebook are great since our Detailed Targeting we ONLY use Likely to Move, Homeowners then pick the cities we want and age 27 plus.
Hey Josh, hope you guys are safe over there! Just wanted to give PSL a HUGE thank you for helping close another 6 deals this last month. All leads that I thought were gone, your awesome team of ISA’s brought back to life. 2.5M in volume out of the 8.6m we did in August was a DIRECT result of PSL crew! So, nice job guys!
I’ve officially had Prime ISA for about a week now. About 200 leads that were previously marked as “dead”…. we have 7 under contract. What was TRULY amazing… they didn’t set 7 appointments… they just put the bug back in the ear of those clients.
If you are on the fence about Prime ISA, just take my word for it and sign up. It will literally be the best money you spend. The fortune is in the followup…
Tips for running a successful advertising campaign……..
1) You have full control over every portion of your PSL website. Try HD background wallpaper images that are representative of your area. The more localized you can make your background wallpaper images that rotate, the better your site will convert. Try using specific pictures of your market that are obvious to anyone living there.
2) Experiment with turning off the header navigation menu at the top of your site. See which works better for your market. If you are using the top navigation menu option, make sure that you put your social media links there.
3) Try different themes and color options for your site. There are various different themes, and virtually UNLIMITED color options that you can choose for your PSL site to make it unique and stand out.
Here are some text message ideas to send to your new Buyer Leads……
Hey there, I’m pulling up some houses in the area that you might like. How many bedrooms are you looking for?
Great choice of neighborhood. What size of house are you looking for? Are you new to the area?
Hey! A few new homes hit the market I think you’ll love. Would you like me to send you the info?
Thanks for signing up on our site to search for homes. I’m setting up a home search for you now. Are you looking for a house or a condo?
Hey there, I saw you were searching for homes on our website. I’m happy to help and set you up with automatic updates by email every time a new home that matches your criteria hits the market!
Do you prefer a one story or two story home? What about tile, hardwood or carpet flooring?
I can send you more information on any home for sale in the market – what exactly are you looking for?Read More
Voicemail Autoresponders are now live! Do you not have time to call your leads IMMEDIATELY as soon as the lead comes in? Don’t wait – turn on the Voicemail Autoresponder and have them receive a Voicemail message from you within minutes of submitting their lead. Here is how it works….
Step 1: Goto >> Marketing >> Manage Voicemails. From here you will record the Voicemail Template / Message that you want to use as your Voicemail Autoresponder.
Step 2: Please see screenshot-1.png – Goto >> Marketing >> Voicemail >> Voicemail Autoresponder
Step 3: Please see screenshot-2.png – On the page that comes up, first enable the Voicemail Autoresponder. Next choose the caller ID that you want to appear as where your voicemail came from. After that, change the “Auto Respond After” field to the number of minutes AFTER the lead has been submitted that you want the lead to receive your voicemail message. I would suggest 5 minutes or 10 minutes. Then select the Voicemail Message that you recorded from the “Audio File” drop down menu. Finally, decide whether or not you want to send the Voicemail Messages only to mobile phone numbers or all phone numbers.
Step 4: Click the green “Save Schedule” button!
PLEASE NOTE – once you Enable the Voicemail Autoresponder EVERY new lead that comes in will receive the recorded voicemail message direct to their voicemail on their phone, as long as they provided a working phone number.Read More
Interesting information….a former PSL client from a year ago called the office. He had generated about 100 leads a year ago. He said he gave each one of them a phone call or two, maybe an email, and then decided after 30 days it wasn’t worth the effort and canceled. A few days ago he decided to go back and look up every address from the PSL leads and discovered that 20 of the properties turned into listings with another agent and were sold in the last 6 months. He promptly signed up again. I don’t care if they are PSL leads or from another source…..your database of leads is a gold mine if you mine them properly. Bob Corcoran once told me something I’ve never forgotten. EVERY house will eventually be sold at some point in time. Even if it burns down you can still sell the land.Read More
For all of our newer members I would like to talk a little bit about Full Leads, Partial Leads and Conversion numbers.
Let’s talk numbers…
Partial Leads – a partial lead is when someone enters their address in Step #1 on your PSL site and when they get to Step #2 they decide to leave the site without entering any additional information. Let’s compare this type of “lead” to what occurs on a “regular” buyer themed website. It doesn’t matter if it’s a Boomtown, REW or any other type of buyer IDX type site, on average every 90-94 visitors out of 100 to a buyer type site will leave the site without registering. That means that only 6 – 10% of visitors to a buyer site per day will end up registering and leaving their lead information. How do I know these numbers are accurate? Because I run the Google Adwords campaigns for dozens and dozens of these buyer type sites. On these buyer IDX sites, there are not any type of “partial” leads – either you get someones lead information or you do not. There is nothing the matter with partial leads, they are simply another tool to use to try and turn a website visitor into a listing. Every agent has different ways of working them. Some agents choose not to work partials at all. Others send postcards, knock on the door, look up the lead information online, check tax records, etc. I know for a fact from talking to our clients that partial leads are being turned into listings on a consistent basis. We had a huge amount of feedback from our PSL clients requesting that we add the ability to turn a partial lead into a full lead, which we did. These requests weren’t being made because partial leads are worthless, trust me! 🙂
Full Leads – As stated above, the average buyer themed IDX type website (Boomtown, REW ,etc) will convert at somewhere between 6-10%. PSL sites convert full leads in the neighborhood of 15 – 35% on a daily basis (this does NOT include partial lead numbers as well). Yesterday the highest conversion ratio was 66%. So, on average, out of every 100 hits to a PSL site 15 of those should turn into full leads. That’s an excellent conversion ratio, even with the other 85 people leaving the site without becoming a lead. On the internet we can’t force people to give us their lead information, so we have to design our websites to ensure that the highest possible number of visitors possible will give us their lead information. Internet leads are a numbers game pure and simple. The more leads you get, the greater chance for success (listings or buyers) we have.
Fake Leads – Forget fake leads, they do not matter. That’s right, they do NOT matter. They are all part of the raw numbers that lead to your ultimate success. Let me explain. The average agent is going to convert 1% of their seller or buyer leads into either a listing or a sold home. That means that 99 out of every 100 leads that they get don’t do anything with them. Think about that – 99 out of every 100 leads don’t do anything with the average agent. Does it matter if those 99 leads have given a correct name, phone number and email address? Is there really any difference if some of those 99 leads gave fake information such as Mickey Mouse or a vulgarity as their name along with a fake phone and email address? Absolutely not – because the end result is still the same – the agent did not convert that person into a listing or a sold home. It makes no difference. Internet leads are a numbers game – the more leads that you generate, the greater chance for success that you have. By the way, there are plenty of agents out there that convert leads into listings / buyers at 3-5% or higher. It all comes down to the systems they have in place and their individual skill.
Conversion Numbers (Leads to Listings) – This is a common question we receive and one that is not easy to answer because every agent is different. For example, if I have 100 seller leads available in the Las Vegas area and I give those EXACT SAME 100 Leads to both Agent Jane and Agent John (no we don’t really do this your PSL leads are NOT shared with anyone else this is just an example) both Jane and John are going to get a different amount of listing appointments and listings from those same EXACT 100 leads. Why? Because Jane and John are both going to work those leads differently. One agent might call their leads immediately, while the other waits. Each agent has different follow up systems to keep in contact with the lead. One agent might have a much better listing presentation style than the other agent. My point is that the PSL system can show you how to generate the traffic to your site, which is 100% guaranteed because you are purchasing that traffic. The PSL system has then been designed to convert that traffic into full leads at a very high rate (15 – 35% on average). Once the leads are captured, how many of them ultimately are converted into listing appointments and actual listings will come down to the individual agents skills and systems that they have in place.
A perfect example of this is the email that I received last night from one of our PSL members:
“In less than one month our results so far are 5 listings Active AND Pending, one listing appointment as we speak, and a growing book of future listings. I have had 80+ “Full” leads, 160 “Partial” Leads. For my “Partial’s”, my Virtual Assistant in India and my Marketing Assistant have teamed up to get 100 CMA’s ready to hit print and mail out here.”
Conversion Number $$$ Potential – As I stated above, internet leads (seller or buyer) are a pure numbers game. The more leads that you get, the greater chance for success that you have. The numbers don’t lie. Let’s assume that the average agent will convert 1% of their leads into a listing – which is very reasonable. So out of every 100 leads, 1 of those leads should turn into a listing. The average cost per lead is extremely low, depending upon your market it averages anywhere from $1.50 to $6.00 per lead. For our numbers though, let’s estimate that you are paying a lot more than that per lead – let’s say $10 per lead. So if you generated 100 leads in a month at $10 per lead, those leads would have cost you $1000. If you converted those leads into listings at 1% – that means 1 out of those 100 leads turned into a listing. Let’s assume an average sales price of a home is $150,000 along with a 3% commission rate for your side of the transaction. This would be a total commission of $4500. If your spilts at your brokerage are 50%, that would leave you with a commission check for $2250.
Not bad! You would have spent $1000 to generate 100 leads, one of which would have turned into a listing and commission check for $2250. That’s a pretty good profit margin!
Now imagine if you are only paying $5 or less per lead, with a greater home sales price, with higher splits.. 🙂Read More
Here are 9 text message ideas to send to your new leads. Please share ones that you find effective in the comments below. Let me know how these work for you…..
What did you think of your home valuation report from my website? Is the price what you were expecting?
Everyone has a price! In a perfect world, what scenario and/or price would make you want to sell your home?
Just wanted to ensure you got the value of your home you requested from my website. It’s important that we provide you what you requested, did you get it?
Your home is probably worth more than the valuation you just received from my website. Have you made any changes or upgrades to the home recently? I just want to make sure we give you the most accurate estimate possible.
I’m working on a more accurate home valuation for you than the automated one you just received from my website. Quick question: does your home have tile or carpet?
I see that you received a house value from my website. Super quick question: do you think the home value was high, low or about what you were expecting?
I just received the request for your home value on my website. Working on a more detailed report for you. On a scale of 1-10 how would you rate the condition?
It’s quite possible your home is worth a lot more than the value you just received from my website. Have you by chance made any upgrades since you purchased the home?
Was the home value you just received from my website what you were expecting? What if I told you that it’s quite possible your home is worth much more…Read More
Do NOT be this person: I have a real estate agent friend who received a Realtor.com listing lead last week, for a property worth just over $1 million. The lead came in when she was just about to start playing tennis. Instead of stepping aside to call the lead right away, she decided to proceed her with match and told herself she would call afterwards. One thing led to another, and she didn’t call until the next day. At that point it was too late, the homeowner told her that another agent had already been out to the property and they had just signed a listing agreement with them. I’ve told her a million times, ALWAYS assume that every single lead you get has also submitted their information on other Realtors websites as well and to call, text, email…SOMETHING right away. That tennis match just cost her roughly $30,000. I understand it can be frustrating making calls and reaching out to leads who don’t answer the phone. However, isn’t that just life that the one call you don’t make right away is the one that is ready to go right then and there?Read More