Conversation Around Conversion

 

Greg Harrelson & Abe Safa discuss conversion and what agents can do to improve their conversion rate on all types of leads and increase their ROI.

As a real estate agent, you know that conversion is key. You need to turn leads into clients to make money and grow your business. In doing this, there are a few things that you can do to improve your conversion rate. To have a better understanding of how to increase conversions, let's take a look at some of the basics.

The Importance of Conversation and ROI When Working With Clients

It is necessary to keep in mind that conversion and ROI are important subjects to discuss if you are generating leads. Particularly if you are purchasing the leads for which you are working.

The goal should always be to maximize your ROI per lead, but that doesn’t mean you should always be focused on conversion. This can mean different things for each source and will depend largely on how many deals you're working with that particular brokerage.

But one way it's done is by looking at conversion numbers, which is the number of leads converted and divided against all those contacted through that specific advertising channel or media property.

The conversion rate applies to both ways, so if someone reaches out without being interested in buying, then they get credit towards their initial outreach effort even though no sale has happened yet and are not included in the conversion rate.

ROI Killers

Four Points:

What Agents Can Do To Improve Their Conversion?

The conversion rates for real estate are usually between .4% and 1% but can get as high as 2%. It is not just based on how many leads you get, and rather your success also depends heavily upon what kind of agent or broker you are. A good agent doesn't mean being a top producer.

It's about how you approach brand new prospects. No one is getting all their potential out yet, but between those you contact right away, then letting slip through your fingers, which there will always be, and lots can happen in just one step.

This could be because people who get leads from other agents are willing to pay for them, so they take better care of them and follow up with more commitment.

This influences the conversion rate of 2-3%. But keep in mind that those who just focus on just the first 12 months will have less than that, while those looking beyond 13-23 months can see higher rates.

As a good realtor, you will be able to increase your conversions by focusing more time on marketing efforts, lead generation, providing more value to your potential clients, and less time on actual selling. That is where your ROI will be greatest.

Utilizing Real Geeks

There are no dead leads

 

The conversation around conversion is a two-way street.

It is not only about understanding how your customers think but also being willing to change the way you do business to accommodate their needs. With some great insights into how you can start improving your conversion rates by thinking more like your customers and less like marketers, then you can be more confident and ready to take your business to the next level.

 

Published on Apr 26, 2022 under , , ,

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(Coaching) (Keeping It Real)

Keeping It Real: The Resources To Equip Your Real Estate Team for Success with Sascha Chatman

Keeping It Real: The Resources To Equip Your Real Estate Team for Success

 

 

In this episode of Keeping it Real, Sascha Chatman and  Frank Klesitz, CEO of Vyral Marketing, break down how you can equip your real estate team for success.

Learn more about the resources needed to manage your own team of real estate agents. Of course, a capable workforce is one thing for generating leads and obtaining success in the real estate world. However, having the right resources available is one of the critical factors needed to equip your real estate team for success.

Recruiting Presentation 

Transforming Your Success into Their Success

Creating a Schedule

Buying this Year vs Next Year

Discovery Phase

The discovery phase is meant to determine whether or not the agents being recruited are the right fit for their real estate team while providing the necessary details for the agents to know what their team is about. Sascha first discusses their team goals and strategies to ensure agents know exactly what they're walking into. He also discusses other matters, such as expectations from the agents themselves and their commissions.

The discovery phase may be one of the most important parts of knowing how to equip your real estate team for success. In order to succeed, you need to have a reliable workforce on your side that shares the same goals and is willing to cooperate with the rest of the team to move forward. Having a compatible and efficient team is one of the best resources you can have in real estate, as it can significantly affect your business' productivity.

Ad Educated Buyer is Easier to Work with!

Agent Utility Belt

This is the highlight of the entire video. Sascha compares his utility belt of resources to Batman's belt of tools and trinkets. This belt essentially exists to store all resources and keep them within reach. Don't get the wrong idea, though. It's not an actual belt. Instead, it is usually a cloud or a compilation of all your valuable resources, such as videos, links, and other agent tools. Having a utility belt that is curated specifically for your team and your needs could help increase the productivity of your workflow because you won't have to scavenge for resources when you need them.

Not only does it make you more productive within your workplace, but it also gives off the sense that you are reliable and organized. When clients ask for something, you will easily have it within reach. 

Clients understandably have many questions before closing the deal, so one of the best ways to answer them is to grab a resource from your utility belt. For example, you're talking to a client about title insurance. Instead of answering their questions yourself, you could take an informative video from your utility belt and ask them to watch it. This makes it easier to understand and relate to.

Having a utility belt is a great way to equip your real estate team for success. It also comes in useful during business transactions. All in all, it's one of the best resources that a real estate team can have.

Having the right resources is essential in equipping your real estate team for success. Create an agent utility belt that caters to your team by signing up for the Real Geeks platform today. We provide valuable resources that you and your team can use to achieve the best possible outcome in every situation. Get started with us today!