Most of you SHOULD NOT work with online lead generation companies. NEVER. Would you like to know the 100% truth about online real estate lead generation? I own a lead generation company, and I highly doubt you’ll ever hear anyone in my position actually try and discourage you from using their
service. I’m going to, because for the majority of agents it’s a complete and utter waste of time. There is a very specific reason why that I
will outline below. This doesn’t just go for my company, but ALL lead generation companies. Online lead generation is NOT a get rich quick scheme, or for people who need a near INSTANT return on their investment. Unfortunately, it does not work like that. Want to know the simple truth of why you are going to fail working with online buyer or seller leads? Read on…..
Most agents will fail because they are impatient. I get it, you work hard for your money and you want to see a return on your investment ASAP. Unless you start thinking of your lead generation efforts as an actual investment through, a 3-18-month investment, it’s not going to work. You will not be successful. Is that to say that none of your leads will be “right now” I want to buy a home right away or have an agent list my home this weekend? Of course not, that happens all of the time. Can you be 100% sure that is always going to be the case though? No way. Life, and internet real estate lead generation, do not work like that.
This is the reality of internet real estate lead generation: working with online buyer or seller leads is HARD WORK. You have to pick up the phone and call. Your leads may not answer the phone on the first call, or even after 10 attempts of calling or texting them. Just because they filled out a buyer registration form, or a home valuation, today doesn’t mean that they are ready right this minute to buy or sell. They may be 3 months away, 6 months away, 12 months away. It’s more than possible that they are just STARTING to think about buying or selling. However, the idea to buy or sell a home most certainly had to start at some place in time. I would say that it’s FANTASTIC for you and your business that they are starting this process on your website, so that YOU can guide them and be their trusted source right at the beginning. For the vast majority of people, buying a home is the largest investment they will ever make in their lives, while selling their home can be the most stressful. It’s not unrealistic at all to think that they will take their time, think carefully and weigh all of their options before deciding to act. You need to wait until they are READY, WILLING and ABLE. They need to be all three. We are expecting them to be ready on OUR time frame, not theirs. Because of this, most agents need to change their thinking. If they do not, they are setting themselves up for disappointment and failure.
Most agents simply give up and say online leads are junk because they don’t want to put in the time and effort to properly work and nurture these leads. The ones that do though are HIGHLY successful.
Be honest with yourself, and answer the following questions:
* Are you going keep calling your leads day after day even if they aren’t responding?
* If they do pick up the phone and say they are just curious right now and to call them back in 6 months… will you do it?
* Are you willing to put in the time and effort to consistently follow up and nurture these leads? Do you have the patience to do so?
* Do you have the funds available to purchase advertising and generate leads for more than 30 days?
* Are you prepared for the possibility that you may not get a commission check within the first 30 days?
If you answered “No” to any of those questions above, then save your money and do not attempt to work with any sort of buyer or seller lead generation company.
So how are you going to be successful working with online buyer or seller leads? There really isn’t any magic formula or secret sauce. It’s through hard work and perseverance. You have to get up every single day and keep doing the same exact thing that you did the day before. You pick up the phone, and you call. You text. You send emails. You send BombBomb videos. Then you do it again the next day. If a lead says call back in 3 months, you call back sooner and check in on them. If you do this, you WILL be successful. It works, because there are too many agents absolutely killing it and making a TON of money by using this simple formula. You spent YOUR hard-earned money to generate the leads, and those leads are worth money. Lots of money! If you put in the time and effort, and treat your leads as an investment, you will win. Now it’s up to you to decide – what type of agent are you going to be? Do you think it’s worth it to invest your time and energy for long term success? Or do you want and need instant gratification? Only you know, and only you can make that business decision. I know what your competitors are hoping you will do!Read More
I am currently at a 5 to 1 ROI (net after all commission splits and advertising costs of $10-$20 per day) after about 18 months with another PSL currently listed and a few more solid in the pipeline. I think it will wash out to close to 7 or 8 to 1 ROI. I am perfectly fine with those numbers. It is not something I would count on as my only source of business by any means but fits great in to the overall plan. If you follow up consistently (which I admit I could have been more consistent) you will succeed.
Just listed my second PSL lead generated property! Two in less than a year. 12 more PSL lead generated properties very closer to listing too. I do understand the usual turn around to list a property is 4-48 months!
To follow up to my last post about 5% Rockstar internet real estate agents….This is a true story about what makes a “5% Agent”. For those of you who didn’t read my post from earlier today about the difference between a 1% agent and a 5% agent, a 5% agent is what I refer to as the super high-end agents or “ROCK STARS” of Internet real estate.
I had the honor of working with a 5% agent several years ago. Let’s call her “Amy”. Amy consistently opened 4-6 brand new deals every single month and her secret was that she was fantastic on the phone. She wasn’t afraid of the phone or being rejected while on it. Amy had the perspective that if a lead asked her to stop calling and that they weren’t interested in buying or selling, that this was absolutely vital information for her to have. The reason being was that if the lead told her that they were not interested in working with her than she would not waste any more of HER valuable time to keep trying to make contact with them. She could then focus on working the leads in her pipeline that she DID have a chance of working with.
One client in particular that Amy worked with was memorable for many reasons. Amy spent 9 months cultivating a relationship with this client, diligently calling and emailing every few weeks with information on the Las Vegas market and communities and homes that she felt would interest her client. When her client finally came to town, Amy was ready and took her around and they quickly wrote an offer on a home that the client loved.
The client then let Amy know that a friend of hers was also in Las Vegas and was staying at the Mandalay Bay hotel on the strip. She happened to mention that this friend was staying on the 10th floor and what an amazing view it was, and that she was going to spend the evening in that friends room. Yes, it was a male friend.
That evening, Amy received a counter off from the other agent. The counter was excellent, however it had one stipulation – the counter offer needed to be accepted by 9pm that evening or the deal was off. It was 6:30pm when Amy received the counter. For the next hour and a half Amy kept calling the clients cell phone which kept going immediately to voicemail. Most agents probably would have just given up at this point and figured there was nothing left that they could do. Not Amy – she reasoned that she had invested 9 months of her time into this client, and with a deal so close to being completed she would not give up.
Amy drove over to the Mandalay Bay, went to a house phone in the lobby, and systematically called EVERY SINGLE ROOM on the 10th floor, asking for the client by name from everyone who answered until she found the client! The client signed the counter offer, and the deal was made.
That type of will to succeed, and determination to make it happen, is what makes a 5% agent.Read More
Got our first listing lead from PrimeISA today! I sent over my login yesterday evening and by 6pm had our first motivated seller. Looking forward to the next one and the next one…;)
Kevin SmitsRead More
I just started PSL ISA couple of days ago and I got my first appointment today ….YIPPEEE….. $500 K price range. Sell and Buy….
Looking forward for more …. keep them coming… 🙂
Vischa SavitriRead More
It’s been 10 days for my PSL and I got my first listing appointment first week of ads. She also will buy after selling. it’s a great system and great leads. Thank you PSL team.
Sibel InanlarRead More
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…