Handling Real Estate Leads in Austin, TX
We have assigned leads. We call that tag CM assigned, and those are the leads that come in when our ISA, our Inside Sales Associates, actually go and call people within 5 days.
They’re raising their hand and saying “I am interested in buying a property. I’m interested in talking to an agent. I’m interested in doing something.” That doesn’t mean they’re all going to pan out, obviously. We know that. But what I think we need to realize is that there’s a process for these ones that are raising their hand.
So we have the Assigned Leads. The process for that is that there should be 7-10 touches over 2 weeks. This should be front and center. These are going to be your most important leads to go after. Even if you guys have business going on and you’re doing things, these are the money leads. These are the leads that we spend the most amount of money on, and they’re the hottest leads.
What is that saying? “Show me your friends and I’ll show you your future”? Well, there’s another saying that says “Show me your database and I’ll show you your income.”
We’ve really got to attack these leads in a short period of time. We should not have 79 leads in our database. When it comes to the leads with these, in 2 weeks there should be four possible outcomes, and those are:
1. In conversation (that is going to lead to something else).
2. Showing property with buyer rep.
3. Pipeline – if you’re in a conversation with these people but they’re further out, then it should be into pipeline. We don’t want these leads that are in there that people are calling once every 3 or 4 or 6 or 7 weeks. They should be in the pipeline if you’re having a conversation.
4. Put back in the pond. What I mean by that is you take the CM assigned off. You talk to Johnny or me, we put this back into the name of Ryan R., which is the catchall for all the leads.
But what I’ve been seeing, guys, is that an assigned lead comes in and either there’s no calls made at all, or there’s one call made and then maybe 2 weeks later, another call is made. Very sporadic. But when someone raises their hand and they tell the Inside Sales Associate that they want to speak to someone, that’s the most important thing we need to do.
We really need to dial in this process, and we need to make sure that we’re calling, texting, sending BombBomb videos, sending emails. When I say 7-10 touches, literally it should be 10 because those are 3 emails as well.
For the ones that are assigned, absolutely we want to leave a message. We want to leave a message at first. Maybe when you call an hour later or 2 hours later or 3 hours later you don’t leave a message, but we want a message, a text, a BombBomb video. That’s all in one day.
I think that a lot of you guys are looking at these leads and seeing it as a very cumbersome process. With this, it won’t be, because what you’re going to see happen is if you get to these 2 weeks, they’re out of your life. They’re either in your life and you’re doing business, or they’re in the pipeline and they’re going to do business down the road, or they’re out of your life.
We should not have 79 leads. I looked on there – what you’ll see for these Real Geeks ones is you have these clients that have been talked to by the Inside Sales Associate, and there’s been either one or two calls – mainly those calls don’t even have messages in them. I went to the Real Geeks site where they’re looking at properties, and there was one lady, she had 47 saved properties. But she was not contacted more than twice, and she hasn’t been on the site since July.
That’s a dead fucking lead. That’s a lead that we probably pissed off – not pissed off, but bucked off – that is not going to come back. So I want you guys to really focus on – and this isn’t only for the leads that we assign you, but these are the leads you get anywhere. If you get someone that you’ve had a conversation with that wants to do business, you need to hit them up several times.
And if they don’t – if you have not talked to them in 2 weeks, then chunk them. But if you have one single conversation and they’re further out, then you put them into the second category, which is Assigned PL. That’s pipeline. These leads, you can have more in there.
But your assigned leads you should really only have five or six, maybe seven. That’s probably even too many, because these are the people that are going to be buying within 1-3 months. So assigned leads are 1-3 months.
And it’s okay if you have a conversation with them and they’re not buying in 1-3 months. Then you move them over here.
When you look at your assigned leads, you guys need to be looking at these leads, putting your eyes on these leads at least 3 times a week. That doesn’t mean you call them and text them 3 times a week – but in the first 2 weeks, you do. But that means you’re looking at them, you’re probably going to call them and text them at least twice.
Then the assigned PL, really, you should be looking at your database for this at least once a week. You should have more. If you had 10 of these assigned leads, you should have 20 in the assigned PL. You should have double in there, because it’s less work. If you look at it from the standpoint of “how can I be more efficient with my time?”, this is high touch, this is low touch.
Another thing that we’re doing starting today is we’re putting all of these leads into our newsletter that we’re sending out once a month. Those are going to be the articles I’ve written, those are going to be the videos that I’ve done. You can go in and you’ll be able to see when they got that email.
You can ask them if they have any questions about the top 5 buyer mistakes. “Hey, did you see the Top 5 Buyer Mistakes video that was sent out? Do you have any questions about that?” You can engage on the PL or the assigned leads based on the content that we send them.
So when it comes to these leads, clean it all up. I probably went through more of these leads than a lot of you went through in a long time. I’m going to be doing this every single week. Especially you guys that are doing a lot of business, I would say we’re probably not going to give you that many leads. But the ones that you have, we want you to handle properly.
I’m not saying we’re not going to give you – that’s not a punishment to you at all. You’ve got five deals going on, great. But keep your eye on this lead. If you want leads, like you start drying up, “Hey Ryan, I want more leads” – if you’re successful, we want to reward you with that.
I will tell you guys, looking at the database that I went through yesterday, I give an A++ to Emily. She has got the most detailed notes. There was not one single flaw in the process of how she has gone in and contacted people, kept up with the notes, gone through and met people and got buyers rep. I can tell you, mark my words, that Emily in the next 12 months is going to have a good year.
Someone else who I thought is doing very well is Angelina. I don’t think Angelina’s on the call – is she? No, she’s not on the call. But she had second place for the best follow-up that I could see.