Don’t Take Your Foot Off the Gas

foot off the gas

The inventory is starting to build a little bit across local and national markets. There's a shift going on right now, but how significant will it be, and what should you do to prepare for it should the current trends continue?

Many real estate agents feel anxious about what the future might hold, but now is not the time to hesitate. It’s time to pick up the pace!

At Real Geeks, we’re going to dive deeper into the current state of the market and the shift currently undergoing. We’ll also give you some advice to help you get into a more competitive mindset. Keep reading!

So You’re Seeing a Shift… Don’t Panic!

 

A lot of agents have become complacent with the hot market. There have been so many buyers and leads flowing in that they have no clue what a normal market looks like — until April 15th came, that is.

When the pandemic started, we at Real Geeks saw an increase in the percentage of properties under contract over properties in the market. More than 80% of these properties belonged to the pending inventory. Everything seemed prosperous based on the numbers.

However, on April 15th, the numbers started to reverse. As of writing, condos in the pending inventory went from 70% to 50%. Single-family homes still have higher numbers, but they could be reaching the same levels in the following months.

So, here comes the dreaded question: is the housing market going to crash? This single word will send shivers in newbie real estate agents, but there’s no need to panic.

We’re simply going through a market shift. It’s subtle, but it could mean that we’re going back to the normal market. There’s no reason to step back; you should see this as an opportunity.

It’s time to make changes to your strategy as a real estate agent. If the market doesn’t change, then you’d be unaffected. But if it does shift, then you’ll be better prepared for whatever may come. You could even thrive if you know how to play your cards right. So how will you do it?

 

It’s Time to Pick Up the Pace

When you start to accept that something is changing, think of yourself as being at the fork of a road. Go left and ignore it or go right and take some sort of action. If you choose the latter, here’s what you can do:

 

Going on the Offense

Now is the time to double down on your current business model. How many contacts do you make each day? How many potential buyers do you talk to? It’s time to increase those numbers twofold.

Right now, you’re probably hearing more and more buyers saying they’ll wait and see what happens before they commit to a transaction, which means fewer appointments for you. So what do you do?

Call more people to maintain your number of appointments. That’s how you make your business recession-proof.

Get Excited About New Opportunities

There goes the word “recession.” However, even if this is happening, it’s what you make of it that matters.

Shifts in the market will result in the inventory going up. That means more listings and more choices for your buyers — opportunities are everywhere if you know how to identify and capitalize on them.

Be There for Your Customer

A market shift is a time of uncertainty for real estate investors, buyers, and sellers since they’ll be encountering a lot of concerning information on the news. Because of this, they’re more likely to call a professional like you to help them. That’s how you get more leads and earn customer loyalty.

Final Thoughts

Remember: change is good, so don’t take your foot off the gas! Keep the flow going by using your Real Geeks database to reach more leads, kick-off more workflows, and set up market activity results. That’s how you’ll stay on top of the game!

Published on Jul 3, 2022 under , , , , , ,

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Real Leads by Real Geeks is a highly efficient and effective marketing solution for generating, capturing and managing home buyer/seller leads.

One of the best lead generation and management systems available. A fully integrated custom IDX and marketing solution to drive traffic, capture leads, manage-cultivate them and close more transactions.

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Coaching Greg Harrelson Real Estate Lead Generation Abe Safa

How To Monetize a Lead Funnel Through Simple Nurture

Greg Harrelson & Abe Safa discuss lead funnels and how to build and monetize them through simple nurture campaigns.

It can be challenging to turn a profit in today's competitive market, but it's not impossible with the right tools and techniques. This article will discuss one such tool: the lead funnel. We'll also show you how to nurture your leads through simple, practical methods to maximize your chances of making a sale.

What is a lead funnel?

 
 
 
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What is a Leaky Funnel?

 
 
 
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What Does Lead Funnel Mean?

The first step to monetizing your lead funnel is understanding it and how it works. A lead funnel is simply a process by which you generate leads and then nurture them until they're ready to purchase. It's an essential tool for any business, but it's significant for companies in highly competitive industries.

There are several ways to generate leads, but the most effective method is usually through online channels like your website or blog. Once you've developed a lead, you need to nurture it until it's ready to purchase.

Invest in Lead Generation Process

 
 
 
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The first and most crucial step to monetizing your lead funnel is to invest in a good lead generation process. This process should be designed to generate high-quality leads that are likely to convert into customers.

There are some different factors that you should consider when planning your lead generation process, but some of the most important include:

  • The clarity of your value proposition
  • The targeting of your marketing efforts
  • The quality of your lead capture forms
  • The effectiveness of your lead nurturing process

These factors are essential, but your efforts will be nothing if you can't get your leads to conversion. That's why it's so important to invest in a good lead generation process.

No Leads In; No Leads Out

The second step to monetizing your lead funnel is to make sure you generate a sufficient number of leads. This may seem like an obvious point, but it's one that's often overlooked. If you're not generating enough leads, then you won't have any to nurture and convert into customers.

There are many different ways to generate leads, but some of the most effective include:

  • Creating helpful and informative content
  • Optimizing your website for search engines
  • Advertising on relevant websites and platforms
  • Building a solid social media presence

Each of these methods can be effective, but you'll need to experiment to see which ones work best for your business.

How Do You Connect With a New Lead?

There are several ways to do this, and the method you choose should be based on what will work best for your specific business.

 
 
 
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Ask Questions

The best way to connect with a new lead is to ask them questions. This will help you know them better and discover more about their needs and wants.

You can ask questions through several channels, such as email, social media, or even in person if you meet them in person.

Listen

It's also essential that you listen to what your lead says. This will help you understand them better and find out more about their needs.

You can do this by reading their posts and comments or listening to them if you meet them.

Approve and Make Suggestions

Once you've connected with your lead, you must approve and make suggestions. This will help them see that you're interested in their needs and willing to help them.

You can do this by approving their comments and posts or by making suggestions on how they can improve their decision.

 
 
 
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Consider Your Leads Timeline

It's also important to consider your lead's timeline. This will help you understand when they're ready to buy and how you can best help them.

You can do this by looking at their previous purchases or asking them questions about their timeline.

 
 
 
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Finally, it's essential to offer value to your lead. This will help them see that you're interested in their needs and willing to help them.

You can do this by offering discounts or by providing helpful information.

By following these simple tips, you can easily connect with a new lead and help them see your business's value.

Real Geeks Your All-in-One Real Estate Sales Marketing Solution

Look no further than Real Geeks if you're looking for an all-in-one real estate sales marketing solution. We offer several different services to help you connect with your leads and convert them into customers. Contact us today to learn more about how we can help you reach your sales goals.

Coaching SEO Keeping It Real Real Estate Lead Generation IDX

The Power of SEO and Area Pages w/ Bob McCranie

 

 

The Power of SEO and Area Pages With Bob McCranie

 

Do you want more lead traffic to your website? In this latest episode of Keeping It Real, we explore the latest SEO best practices with Bob McCranie. Bob is the Broker Associate & Team Owner at Texas Pride Realty Group - HomeSmart Stars and an expert on utilizing SEO best practices and Area pages in his strategies.

Join host Frank Klesitz, CEO of Vyral Marketing, in breaking down the strategies and best practices behind a robust, high-conversion online presence in today's evolving digital landscape.

Bob on Why Real Geeks:

Bob on Organic VS Paid Advertising:

If you need some help optimizing your site, tips on how to turn up the volume on your current lead flow, insight into different strategies that have provided wins for agents across various markets, -- Check out Bob's Area Page lead generation strategy!

Bob on Optimizing Your Real Geek's IDX Website:

Bob on Attitude & SEO:

Bob on virtual companies & online work:

Top 3 Ways to Generate Lead Traffic & Boost Your Sale Funnels' Visibility in Your Market

Bob, a Brokerage Associate & Team Owner at Texas Pride Realty Group - HomeSmart Stars, shares the techniques and strategies he deploys to increase overall visibility to prospective clients in his market. 

According to Bob, he deploys three unique strategies to get leads. These strategies roughly refer to attraction marketing, SEO & optimizing his website based on popular search engine optimization guidelines, and demographic farming/cultivating his existing audience. 

Let's dive more into these strategies and find out how Bob executes them to get as many leads as possible.

Bob on Attraction Marketing:

Attraction Marketing

Attraction marketing, also called event marketing, is Bob's number one strategy. This strategy is based on the idea is that you don't have to run Ads all the time or cold calls but have people gravitate towards you because of who you are in the community. In the case of Bob, he's a well-known Broker Associate with long years in the industry. Newer agents can begin working on their community visibility by hosting events. 

Bob on the fun of event marketing:

You can draw people to you by hosting events, posting about them on social media, and generally being a social connector. It doesn't have to be a real estate event, but any event that serves as a lure to connect with people.

Bob on marketing his events:

Some of the events you can host include:

  • Kite Flying, BBQs, & Outdoor Events
  • Theater Events, Movie Nights, DriveIns, Concert in the Parks, etc. 
  • Recycling Events, Food Drives, Community Service Events, etc.

Bob on building collaborative events:

Starting successful community events takes consistency and patience. Make a schedule and stick to it when promoting your events. You can put up physical signs around your area. Put up flyers at your local coffee shops and gyms, and utilize social media ads. These have proven very effective no matter which markets you are located in. 

Bob on using creative postcards for marketing:

Putting in a constant effort will build attendance over time, and before you know it, you will have collected a community of regulars at your events that can also serve as a potential client base. Networking greatly helps get leads, even if not by a massive count at first.

Your Website

Bob on the importance of having your own IDX website: 

Bob on making IDX websites work for you:

The second and perhaps most important is internet marketing, specifically SEO. Your primary medium is your Reel Geeks website, which helps you draw in more organic leads. You still run Google ads, which brings you steady business.

However, you must have a website to lead your potential leads and provide them with the information they need.

Of course, just having a website is not enough – you need area pages. Bob stresses the importance of area pages and being specific about where you want your leads to go. He combines social media and SEO, focusing locally on his pages.

No one looks for real estate in the main city. People always look for the suburb or neighborhood they are looking into.

You create business pages for each suburb of the city you're covering. Each page must have a call to action that takes the reader to the actual area page on your website. It has to lead to the direct page for the city or suburb, not the homepage. It helps to pre-fine all searches as much as possible, directing leads where they want and giving them satisfaction.

 

Bob's Take on Ads & Real Leads

 

How Bob Determines His Area Pages

 

Building a Backlink Strategy

 

Backlinks & Area Pages

 

 

Demographic Farming

Bob's last strategy has to do with demographic farming, which is about cultivating or nurturing your lists.

Using Funny Postcards in Demographic Farming:

In this example, he developed his holiday list using postcards sent creatively and in good fun. For instance, he would send a holiday postcard in June or Valentine's Card with a humorous caption. Of the many postcards he sent, the most creative and successful is the tagline, "No, I don't want to buy your house." Bob doesn't want to buy your house, but he can sell it at a 30 to 40% better price than others in the market. The idea is to keep it fun, so people will look at the cards or mail and know what Bob has to offer.

Per Bob's experience, the strategies that can help you bring in leads are – attraction marketing/events marketing, SEO and area pages, and demographic farming. Add them to your process, and you can turn up your current lead flow to the highest volume.

 

Real Geeks' Real Estate Cost Per Lead Breakdown

Throughout our masterminds, exchanges with real estate industry professionals on The Keeping it Real podcast, and our every day, — a metric that everyone agrees is key to formulating your route to success as a real estate professional is the cost per lead metric.

Understanding your cost per lead metric will help you assess the amount of inventory in your market, understand your clients’ and prospective clients’ needs, assess where clients fall in their buying or selling cycle, and better understand your market. With your cost per lead metric, you can create a budget and a plan for any market or season you find yourself in.

Fill out the form below to receive an instant download of The Real Geek’s 2022 CPL Report that breaks down the cost per lead in the top 10 most prominent markets of the last year, the top 10 lowest cost-per-lead markets of the previous year, and the cost per lead breakdown of the 50 largest markets of the previous year.

Through our work managing Google and Facebook ad accounts for hundreds of real estate teams across the USA and Canada, Real Geeks can get a unique perspective of the market as a whole. Based on what we’ve seen, now is the best time in history to start investing in PPC leads.

Once you have assessed the cost per lead in your market, there are many ways to apply this metric to your strategy. Last week's Keeping it Real: How to Generate Seller Leads in Low Inventory Market w/ Lisa Chinatti & Jason Posnick, Lisa and Jason address the current issue of low inventory markets. As well as, break down the most effective approaches to 5 different lead sources and how to create a plan that meets your needs regardless of which market you are in.

 

 

In addition to constructing a strategy in response to low inventory markets and examining different lead sources, lead flow is also a factor to consider. If you have a small real estate team or have become overwhelmed with the number of incoming leads, you can deploy a texting assistant like Real Geek's Robin Geek AI to your workflow. Also, check out Keeping it Real's: How to Hire a Virtual Assistant to Cold Call Homeowners for Seller Leads w/JP Wells.

 

 

If you are getting started with building a workflow, check out: 4 Drip Campaigns You Can Activate Today and Get Huge Response, where Greg Harrelson & Abe Safa break down their favorite drip campaigns you can activate today using your Real Geeks workflow library, as well as a drip campaign of their own. 

There are plenty of ways to take your cost-per-lead metric and create a bulletproof lead workflow that works for you or your team. Check out our Keeping it Real: Bulletproof Real Estate Lead Follow-Up Plan w/ Brendan Bartic. We sat down with Brendan to discuss how his Denver real estate team sold 230 homes last year. He broke down his "bulletproof" real estate internet lead follow-up system.

 

 

If you’re spending money to generate online buyer and seller leads and are not happy with how many people respond to you or book an appointment, you’ll learn how to improve your results with our Keeping it Real: How to Convert More Online Buyer and Seller Leads to Appointments w/ Anna Krueger.

 

 

Keeping It Real Marketing

How to Start a Real Estate Investor Meetup Group w/ Rob Chevez

 

 

In 2007 Rob Chevez began a local MeetUp focused on empowering real estate entrepreneurs to build wealth and create a legacy. Less than 10 people attended the first meeting. Now, what is known today as GRID, has grown to over 16K+ members in 8 states and over 18 locations. 

Millions in revenue have been generated from the training, tools, and connections created by the GRID network alone.

GRID is a global network of real estate entrepreneurs who believe collaboration empowers, shapes, builds, and transforms you. Becoming a real estate investing pro is best done at the local level – with local knowledge, local contacts, and local resources to help you grow. 

All and all, Rob shares a great passion for empowering real estate entrepreneurs to build wealth and create a legacy.

What’s your motivation and how did you start?

“I started thinking about a way to go from a 1-to-1 communication to a 1-to-many. As your starting to build a business you know you have to build a database. You do that by having a cup of coffee with somebody, or prospecting somebody, or talking to a lead ... What would the world look like if I could actually create something of value that would attract 20 people, 30 people, 40 people, 100 people to me at one time where I then have the ability to pour into them on a topic that I love and we could just talk about it. So that’s where the idea came from. I wanted to build my database, I wanted to lead with value, and it started with 5 people and it just kinda grew from there… Before we knew it there were over 100 people in the room and we were all just talking about what we love to talk about which is building wealth and buying real estate investments and I would help facilitate those discussions.  ” [Rob Chevez 4:10 5:16]

How to Provide Value

 

“Before you decide to do something like this, I really believe you have to have some content/context, you need to be doing it, you need to be in the game already. My wife and I had been going to real estate investment association groups for 5 or 6 years prior to this … buying real estate along the way. I remember going to these groups and saying to myself ‘This could be done better, there’s no cohesion in this conversation. They're giving you just enough information to be dangerous but not all the information.’... What if I just gave the information out for free so we could do more deals? What would an investor need to know first?” [Rob Chevez 6:48 7:49]

Rob started by examining his and his wife’s own experiences with real estate investing throughout the years and came away with several foundational topics that he felt would bring the most value to do a deep group dive on.

These topics would serve as the general structure for Rob’s MeetUps with one meeting a month at about 2-3 hours each. 

“You spend about an hour to an hour and a half on a topic and people get really into the topic … You get 30 minutes of intros because I wanted people in the room to learn who is in the room … after the topic, the most important part is people in the room networking with each other … Once the topic was over people would talk to the people they had an interest in talking to and I made sure that I was a power connector. That I was helping them build their database. ” [Rob Chevez 8:55 - 12:30]

“The way you provide value is: you help someone make money, you help somebody save money, … or you're trading them information that makes them smarter … Go from being a transactional agent to being a transformational agent.  ” [Rob Chevez [21:33 - 23:39]

 You don't need to be an expert to provide value

 

Provide a Platform

“What I learned is I pulled people into the conversation so it was never a monologue … I made sure that I made my members part of the experience and the discussion. Of course, everyone wants a platform, and this gave them a platform to show what they were doing. We celebrated successes in that process. ” [Rob Chevez 12:33 - 13:15]

Providing an environment to facilitate relationships is one of the greatest ways to provide value. This mindset in creating your own mastermind groups will result in meet-up events that go beyond the standard networking event. 

Reach

Promote your meet-up across all your regular channels (Facebook, Twitter, Instagram, TikTok, LinkedIn, etc.), email lists, and even linked in your email signature.

Rob also live-streams his meetups and provides a playback on his youtube channel. This is another great way to expand your digital footprint. Feature video content of meetups and any highlights from your Meetups in your workflows.

What Not To Do