Mastering Online Lead Conversion – with Ro Malik – EP020
If you don’t contact an online lead within 10 minutes, your opportunity to reach the prospect drops by 50%. By the 30-minute mark, you are looking at a 90% failure rate. We all know that speed-to-contact is the #1 factor in conversion, yet you’d have to be superhuman to respond to every incoming lead within five minutes. And the vast majority of us can’t afford to hire and train an Inside Sales Agent (ISA) to respond to and qualify each prospect. In the meantime, we are throwing away money on Zillow and Facebook leads that we don’t have time to nurture. There has to be a better way, right?
Ro Malik is the cofounder and CEO of Conversion Monster, a team of ISAs who help agents across the country convert online leads and expired listings. Ro also serves as a real estate broker with Keller Williams in Chicago, and he was recognized as a 2017 Top Producer by The Chicago Association of Realtors. He has been in the industry since 2003, and his diverse experience ranges from the lending space to real estate investing.
Today, Ro joins Jeff to explain how solving his own problem around responding to leads led to the creation of Conversion Monster. He describes how the service qualifies and nurtures leads, staying in front of prospects until they are considered hot. Ro offers insight around Conversion Monster’s expired listings program and the cost savings of their platform over hiring in-house ISAs. Listen in to understand how agents can track Conversion Monster’s follow-up efforts in real time and learn how lenders and realtors might partner to leverage the service for their mutual benefit!
Key Takeaways
Ro’s real estate resume
- Started on lending side in 2003
- Always around inside sales model
- Shift to investing and brokerage
The impetus for Conversion Monster
- Recognize value of speed-to-contact
- 15-20X number of leads vs. closings
- Chasing leads not good use of time
Conversion Monster’s approach to leads
- Call, text and email within five minutes
- Call 6X, text/email 5X in next 10 days
- Year-long nurture plan if unresponsive
How Conversion Monster qualifies leads
- Price point, preapproval and neighborhoods
- Live transfer to agent once six months out
How Conversion Monster’s ISAs nurture leads
- Continue to reach out as member of team
- Maintain agent’s branding
Conversion Monster’s hours of operation
- 9am-8pm Monday—Friday
- 9am-6pm Saturday—Sunday
- Moving to 24-hour system
How agents can track follow-up
- Internal lead management system
- View leads in real time, hear recordings
How agents and lenders can partner
- Different script for mortgage professionals
- Hand off to realtor partner for showings
The cost of the Conversion Monster service
- $4-$6/lead, packages start at $700/month
- 80% less than hiring in-house ISAs
Conversion Monster’s expired listings program
- Cold call prospects for agents
- Provide warm leads to build listing side
Connect with Ro
Email ro@conversion-monster.com
Conversion Monster on Facebook
Call (312) 208-1184
Resources
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Technology will not replace Mortgage Bankers or realtors. But a real estate professional who embraces technology WILL replace one who doesn’t. In fact, we can leverage technology to enhance the relationships among LOs, agents and borrowers, making the process of securing a mortgage and buying a home quicker and easier.
Joe Wilson is the CMO of SimpleNexus, a mobile-first digital mortgage provider that connects lenders with buyers and realtors on a single branded platform, allowing for the exchange of data and documents through the entire loan life cycle. SimpleNexus works with 15 of the top 25 lenders in the country, serving 18K Mortgage Bankers and more than 100K realtors. Joe began his real estate career as a mortgage loan officer before making the switch to real estate technology ten years ago. He worked with Mortgagebot and Ellie Mae prior to joining the team at SimpleNexus.
Today, Joe joins Jeff to discuss his transition real estate technology and how the industry has evolved in the last decade. He explains the utility of SimpleNexus, sharing what differentiates the app from other digital mortgage providers and its benefits in terms of simplicity, time savings and transparency. Listen in for Joe’s insight on using technology to enhance relationships among Mortgage Bankers, agents and buyers—and learn how Simple Nexus provides a seamless experience for all three stakeholders involved in the process.
Key Takeaways
The fundamentals of SimpleNexus
- Digital mortgage provider (mobile-first)
- Connects lenders, buyers and realtors
- Exchange data and documents
SimpleNexus by the numbers
- Work with 200 lenders (15 of top 25)
- 18K Mortgage Bankers and 100K realtors
- 500K borrowers ($100B in transactions)
Joe’s background in real estate
- Real estate marketing in college
- Served as LO, transition to tech
The evolution of mortgage technology
- Began with online loan applications
- Shift away from desktop to mobile
The benefits of SimpleNexus
- Loans close 20% faster (up to 10 days)
- Transparency, real-time updates
- Instantaneous service from anywhere
What differentiates SimpleNexus from other apps
- Connections with LOS, credit reporting agencies, etc.
- Broader experience (home search through closing)
- Seamless digital experience for LO, borrower + agent
The SimpleNexus home search feature
- Link to realtor’s mobile-friendly site
- Third-party platforms (MobilityRE, HomeScout)
Connect with Joe
Email sales@simplenexus.com
Resources
Connect with Jeff
How do you go from 19 transactions per year to 300-plus—in just five years? Keri Shull contends that the secret to scale lies in a willingness to invest in yourself and your business. Throughout her career, Keri has made it a point to invest in her real estate education by putting herself in the right rooms with the right people. In addition, she is willing to hire team members and invest in the latest technology, so that she can devote her time to the aspects of the business she enjoys most.
Keri is the founder and CEO of The Keri Shull Team at Optimé Realty, one of the top real estate teams in the DC Metro area. She has revolutionized residential real estate by developing a team of marketing specialists who use innovative technology to ensure maximum exposure for her client’s homes. In 2018, Keri’s team is on track to help 500 families buy or sell a home, accounting for $300M in transactions.
Today, Keri joins Jeff to share her real estate resume and explain how she scaled her business so quickly. She offers insight around building a successful team, staying ahead of the lead gen game and leveraging dramatic demonstrating in your listing presentation—and other facets of your real estate business. Listen in for Keri’s advice on putting yourself in the right room with people who are where you want to go and learn about her Inner Circle coaching program and upcoming Hyperfast Sales Bootcamp with Grant Cardone!
Key Takeaways
Keri’s real estate resume
- Fell in love with finding right home for buyer
- From 19 to 365 transactions in five years
How Keri scaled her business so quickly
- Leverage time through tech, people
- Focus on weakness and hire out
Keri’s insight on building a team
- Calculate what your time is worth
- Train well to get time back quickly
- Regular feedback (reinforce good behavior)
- Treat like partner for highest contribution
Keri’s tips around lead generation
- Listen to experts and tweak for market
- Study numbers for each lead source
- Stay ahead of trends and keep testing
- Add multiple pillars (e.g.: direct mail to market segment)
How Keri’s team doubled their listing conversions
- Retarget online before listing presentation
- Replace pre-list package w/ ‘do not open until’
- Resequence appointment (mechanical rapport)
- Demonstrate how you do what you do
- Show how will target right buyer
Keri’s Inner Circle coaching program
- $40/month for access to Keri, videos from events
- VIP Inner Circle for access to Keri’s team training
Connect with Keri
Email keri@kerishull.com
Resources
Sharran Srivatsaa on REMCN EP013
Connect with Jeff
‘Everything, when it comes to success, starts and ends with the environment. For me, I always put myself in different environments with really sharp, successful people. My goal was always to be one of the dumbest people in the room because what happens—and it happened to us mastermind after mastermind—was it changes the way you think.’
Sam Khorramian is the Co-founder and CEO of Big Block Realty, the fastest-growing real estate brokerage in the country. Since its inception in 2012, Big Block has grown to a team of 1K agents and appeared on the Inc. 500 list three years in a row. Sam is a serial entrepreneur and international speaker with a passion for helping people start and grow their own businesses. He has 12-plus years of experience in the real estate industry, and Sam specializes in brand development, web traffic, automated systems and creative advertising.
Today, Sam joins Jeff to discuss the concept of masterminding as a way to learn from the people doing what you want to do. He shares the vision for the Closing Table mastermind, describing the group’s main events as well as their topic-specific intensives. Listen in for Sam’s insight on surrounding yourself with top producers and learn how the relationships built in masterminds can shortcut your success!
Key Takeaways
Sam’s real estate resume
- Loans, investing and education
- Run Big Block brokerage (1K agents)
- Partner/investor in other businesses
The concept of masterminding
- Learn from people doing what you want
- Success starts with environment
- Smart people change way you think
The benefits of being in a mastermind
- Stay ahead in market (education)
- Relationships = shortcut to success
The vision for Closing Table
- Top producers in real estate space
- Cutting-edge digital marketing minds
Closing Table’s main events
- Wicked Smart—top 10 winning business strategies
- Featured speakers (i.e.: Jessie Itzler, Dean Graziosi)
- Break bread and harvest relationships
The Closing Table intensives
- Topic-specific, 10X per year
- Rollout strategy
Connect with Sam
Email sam@bigblockrealty.com
Call (858) 518-1533
Resources
Connect with Jeff
What does it take to build a successful real estate team? Is it about training and accountability? Or technology and systems? How much should a team leader invest in online leads? Does any of that matter if you don’t surround yourself with mentors and coaches who can help up your game?
Suneet Agarwal began his real estate career as a top-producing loan officer and sales manager with SB Financial Mortgage before leaving to pursue entrepreneurship. In 2014, he became a full-time real estate agent, earning rookie-of-the-year honors for the region. By 2016, he was ready to level up, leveraging his experience in real estate investing, finance and business to found Best Sac Homes Group, the leading real estate team in Sacramento, California.
Today, Suneet sits down with Jeff to explain how hustle and hunger led to his early success as a real estate agent. He discusses the importance of investing in your business and empowering the agents on your team, using proven systems and automation to convert leads. Listen in for Suneet’s insight on providing value to build an effective agent team and learn how mentors have proven integral to his success!
Key Takeaways
Suneet’s background in real estate
- Rookie-of-the-year in 2014
- Doubled business in 2015
- Joined Big Block with team
Suneet’s early success as an agent
- Hustle and hunger
- Investment in leads
Suneet’s insight on converting leads
- Enlist help of coaches, mentors
- Study (i.e.: Lab Coat Agents)
How Suneet built an agent team
- Provide value (e.g.: training, leads)
- Implement systems
Suneet’s advice around conversion
- Accountability, daily training
- Leverage tech for multiple at-bats
- Scripts for every opportunity
Suneet’s approach to follow-up
- Two ISAs + 2 automation pieces
- Agent contact as well
Why Suneet chose Big Block
- Great commission, small fees
- Support, culture and leadership
Suneet’s advice for real estate professionals
- Learn at masterminds, events
- Build relationships with people admire
Connect with Suneet
Text (916) 216-7375
Resources
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There are a lot of shiny objects in the realm of real estate marketing, and everyone seems to be throwing their marketing dollars at the next big thing in lead generation. But what if you could attract business rather than chasing it? What if you could grow a database of people who like you for who you are as a person—and leverage that sphere of influence to generate referrals? The good news is, you CAN do those things by creating media around your personal brand.
Mike Cuevas has been in the real estate business for 16-plus years, cutting his teeth as an agent in the Chicago market. Early on, Mike realized the value of staying top-of-mind with your database and practicing content marketing. Today, he is the Real Estate Marketing Dude, providing done-for-you video and content marketing services for real estate agents, lenders and mortgage professionals. Mike helps his clients develop a brand story and stay in front of their audience—without having to talk about real estate!
On this episode of the podcast, Mike joins Jeff to explain how he was able to attract business as a real estate agent—without buying leads. He discusses the immense value of staying in front of your database and mining the people who already know, like and trust you as a referral source. Listen in for Mike’s insight on developing a brand based on what you’re passionate about and creating media around that core message.
Key Takeaways
Mike’s background in real estate
- Sold real estate out of college (2002)
- Attract business without buying leads
- Practice content marketing, branding
The value of staying in front of your database
- People close to you = referral source
- Create media around personal brand
Why SOI is more important than prospecting
- 65% of business from referrals, past clients
- Use prospecting to grow database
The statistics around moving
- 10-15% of people are moving
- 100% know somebody moving this year
The difference between attracting and chasing leads
- Use targeted Facebook ads + content
- Leverage video to capture attention
How to develop a brand based on your personality
- Find something passionate about
- Build core message around passion
The services offered by Real Estate Marketing Dude
- Full-service video and content marketing
- Build out brand, provide content management
Connect with Mike
Real Estate Marketing Dude Podcast
Resources
Delivering Happiness: A Path to Profits, Passion and Purpose by Tony Hsieh
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We all have room to grow, yet many real estate professionals hesitate to invest in a coaching program because of the associated expense. But if you truly want to take your business to the next level, you have to make a habit of doing what unsuccessful people are not willing to do—on a consistent basis. And the most effective way to develop that kind of discipline is with the help of a coach.
Anthony Merkel is a certified Elite Level Sales and Leadership Coach with Southwestern Consulting. He has 15-plus years of experience in sales, sales management, recruiting and leadership, earning the Spencer Hays Silver Award for Recruiting as well as the Platinum Certification in Sales and Recruiting. Anthony is known as a systems master, breaking down big goals into achievable action steps. He is on a mission to bring out the best in clients as he helps them reach their personal and professional goals.
Today, Anthony joins Jeff to share his background, explaining how he transitioned from door-to-door sales to leadership and coaching. He discusses the correlation between success and coaching, describing how a coach can help you identify mistakes in the moment and hold you accountable for what matters most. Anthony walks us through the process of working with a Southwestern coach, describing the customized approach they take based on each client’s personality assessment. Listen in for insight around the value of answering to someone besides your sales manager or spouse and learn why you deserve the support of a coach to help you overcome limiting beliefs and become the best version of yourself!
Key Takeaways
Anthony’s background in sales and coaching
- Cut teeth in door-to-door sales for Southwestern
- Fell in love with recruiting and mentorship
- Transition to coaching with sister company
The correlation between success and coaching
- Build habit of doing what others won’t
- Don’t see own mistakes in moment
- Let selves off hook for what matters most
The process of working with a Southwestern coach
- Committed, coachable and ready to change
- Match based on DISC assessment, industry
- 45-minute call twice a month
Why Southwest uses a personality assessment
- Meet people where they are to affect change
- Custom fit based on critical success factors
The value of being accountable to a coach
- Answer to someone besides manager, partner
- Call out on lies we tell ourselves
Connect with Anthony
Call (314) 494-1019
Email amerkel@southwesternconsulting.com
7-Day Sales Training anthonyswcbonus@gmail.com
Resources
The Common Denominator of Success by Albert E.N. Gray
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What if you could win a potential client over BEFORE the listing presentation? What if you could provide value and build trust prior to your pitch? What if you had the tools to deliver the unexpected?
Sharran Srivatsaa is the CEO of Kingston Lane, a push-button technology execution platform for real estate. Prior to founding Kingston Lane, Sharran served as the President and CEO of Teles Properties, growing the brokerage by 10X in 5 years before selling it to Douglas Elliman in 2017. Sharran is a serial entrepreneur and well-known keynote speaker, and his work has appeared in the Wall Street Journal, Huffington Post and Forbes, among many other publications.
Today, Sharran joins Jeff to explain why he chose real estate, discussing his strength in providing agents with a blueprint to win more business. He shares his listing presentation blueprint and offers advice around how to differentiate yourself with potential clients. Sharran describes his geographic layering approach to farming a neighborhood and explains how the Kingston Lane platform allows agents to put marketing, sales and lead gen on autopilot. Listen in for Sharran’s ‘pregame’ listing presentation strategy and learn how to win business before you’ve even walked in the living room!
Key Takeaways
Sharran’s background in real estate
- 10 years ‘in the trenches’
- Grew Teles Properties 10X in 5 years
Why Sharran chose real estate
- Access to agents (sell products)
- Opportunity to build better agent
What Sharran offers real estate agents
- Practical tools to use right now
- Teach delivery of value prop (only statement)
Sharran’s listing presentation blueprint
- Focus on offer, price and terms
- What’s in it for them?
Sharran’s top tips for agents at a listing presentation
- Don’t tour house first (establish rapport)
- Proof over promise, demonstrate experience
- Leave with homework to deliver in 24 hours
Sharran’s ‘pregame’ listing presentation strategy
- 3 value-add touches leading up to appointment
- Repetition, frequency builds trust
What inspired Sharran to start Kingston Lane
- Grew brokerage to 600 agents, $3.5B in sales
- Build platform that provides EXECUTION
- Agents focus on revenue-generating activities
Sharran’s geographic layering approach to farming
- Gain sense of neighborhood quickly
- 5-day Facebook geotargeting campaign for $100
The other services offered by Kingston Lane
- 3-click Coming Soon campaign
- Drag-and-drop OR done-for-you marketing
Sharran’s daily live 5AM Club call
- Provides accountability, discipline
- Anchor day with community
Connect with Sharran
Resources
Connect with Jeff
In the wake of sites like Zillow and Redfin, real estate agents only ‘own’ listing data before it goes live on the MLS. Is there a way to leverage that intelligence and create a Coming Soon campaign that generates both buyer and seller leads? How can REALTORS tap into the human desire for insider information and market an off-market listing?
Ryan Lipsey is a Senior Account Executive with Ticor Title, a title insurance and trust company based in San Diego, California. But Ryan is much more than just a ‘title guy.’ He creates content for fellow real estate professionals, bringing value to agents by way of an educational forum. Ryan offers in-person workshops on a variety of topics as well as an online platform known as Lipsey Live. He seeks to collaborate with entrepreneurial agents, marketing professionals and mortgage lenders in creating a trusted referral network.
Today, Ryan sits down with Jeff to share his mission to solve problems for agents. He walks us through his six-step process for promoting a Coming Soon, an approach that uses a combination of traditional and digital marketing strategies. Ryan discusses the benefits of the ringless voicemail tactic, where to turn for a great landing page, and how live calls are made easier in tandem with other efforts. Listen in for Ryan’s insight around the role vendors can play in bringing value to real estate agents and learn to make the most of a Coming Soon to generate and convert leads!
Key Takeaways
The type of agent Ryan partners with
- Entrepreneurial minds who treat as business
- Scale up to next level, hundreds of deals/year
Ryan’s mission to solve problems for agents
- Solutions around lead gen and conversion
- No selling, just bring value
Ryan’s 6-step plan to tell the coming soon story
- Landing page
- Snail mail
- Ringless voicemail
- Live calls
- Door drop
- Video to Facebook custom audience
The efficiency of the ringless voicemail tactic
- 15 minutes to create campaign
- Upload spreadsheet
How live calls are made easier with other marketing efforts
- Follow-up call rather than cold call
- Conversion goes up, confidence boost
Ryan’s role in educating real estate agents
- Depends on state’s compliance regs
- Educational forums
Connect with Ryan
Call (619) 454-9366
Resources
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Developing a personal brand is crucial in growing a successful real estate business. But how do you come up with a concept that will attract the right audience? How do you create entertaining content that compels people to keep watching? And once they have started to engage, how do you go about turning viewers into clients?
Andrew Greer is a San Diego real estate entrepreneur and investor. His current focus is on multifamily development and subdivision maps, and Andrew is known for working with agents to build out referrals and create lead paths. He is also a master of branding, creating media to both attract new clients and expand his sphere of influence.
Today, Andrew joins Jeff to share the inspiration for Sock Talk, explaining how puppets Pickles and Carrots serve as a thumb-stopper to generate interest on Facebook. He shares his strategy for tracking engagement through Facebook Pixel and sending follow-up ads via the Ads Manager. Andrew offers insight around networking, discussing his BrewRE Meetup Group and the business it has generated over the past three years. Listen in for Andrew’s advice around producing media to entertain your target audience and turning viewers into clients with a strategic marketing funnel!
Key Takeaways
The format of Sock Talk
- Interviews with local entrepreneurs
- Sock puppets serve as thumb-stopper
- Target young families with children
How Andrew turns viewers into clients
- Use Facebook Pixel to track engagement
- Target with ads, provide call-to-action
- Ads ‘follow’ audience to other sites (e.g.: ESPN)
Andrew’s BrewRE Meetup Group
- Free monthly networking event
- $1M in profit via relationships
Andrew’s advice for real estate professionals
- Never eat alone (expand SOI)
- Identify target market
Andrew’s upcoming new show
- Not on Zillow to feature off-market properties
- Curate list of buyers, lock up listing contract
Connect with Andrew
Resources
San Diego Real Estate Networking
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