Return on investment is something every agent is worried about deep down. Moreover, that fear and worry aren’t entirely unwarranted. Having a low ROI is a reality many real estate agents face today.
This is exactly what Greg Harrelson and Abe Safa talked about on their latest Real Geeks Masterminding call. Both of them agreed that ROI is an area most agents can and should improve on. In the call, the two discussed four major reasons why agents still see low returns, despite already using the Real Geeks all-in-one real estate solution.
Here is what they talked about:
1. Differentiating Expenses and Investments
ROI is something you only expect from an investment, not from an expense. However, Abe and Greg noted that many agents still get confused about whether something counts as an expense or an investment.
Being unable to tell whether something is an expense or an investment can cause you to neglect it. Not nurturing or following through on an investment will naturally cause lower returns. Greg tells agents that by simply shifting your mindset, you can shift the results you get.
2. Majority of Leads Fall Through the Cracks
Both Abe and Greg agreed that if agents leveraged automation and workflows into their business, they can avoid having leads fall through the cracks.
Workflows allow you to make a few attempts manually then use an automated workflow afterward. This allows you to continue reaching out to those unresponsive leads while also trying to capture more others.
Additionally, workflows let you connect with all the people already in your database multiple times throughout the year — something impossible to do manually. Abe encourages agents to try to contact leads at least six times. If you make six or more attempts to reach a lead, that 15% national average of leads you reach can go up to 90%.
If you’re already using the Real Geeks CRM platform, you already have a built-in solution to counter this problem. The Real Geeks library has a “no contact after first attempt” workflow. Utilizing this one workflow can potentially triple or even quadruple your ROI.
3. Agents Don’t Leverage Market Activity Reports
This is another case of using automation and the tools that are already in the system you are paying for. You already have the information, the tools, the database, and the leads, admonished Greg. All you need to do to improve your ROI is to start using them.
Make sure to enter all your leads and information into your database. Once they’re in your pipeline, leverage system automation to make it easier to reach out to them.
4. Lack of Digital Footprint, Especially Videos
Videos are an amazing tool for any real estate agent. They allow you to showcase properties and make a deeper, more genuine connection with your potential customers. This is something that Zillow and many large online listing companies can’t do. As such, it is an opportunity you should take full advantage of.
Only a few agents leverage video sharing for their lead generation and ROI. Creating and sharing videos thus allows you to differentiate yourself from other sellers. It makes you more stand out and in touch with the current trends — something that may help with younger clients.
The Bottom Line
Going digital is the way to go, even in the field of real estate. Although calls will continue to be indispensable in the industry, texting and using automated workflows to reach customers are becoming just as important to boost ROI.
Before ending the call, Greg and Abe remarked that all the solutions they shared are tools already included in the Real Geeks system. If you’re already paying for the service, that means you don’t have to make any additional investments to improve your ROI.
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