21: [TB] Does Facebook Work For Real Estate Agents?

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Does Facebook work for real estate agents?  Is it something that can help you generate real leads?

In my opinion…

…YES.

does facebook work for real estate agents?

First, it’s important to consider that Facebook is NOT a great fit for every business.  For example, besides being in real estate, I own a local pet services company where we do things like dog walking, running, and pet sitting.  Facebook doesn’t work that great for this type of business in terms of generating new customers (but it’s awesome for keeping current customers and generating referrals).

The reasons for this are many.  Chief among them though is that, unlike with real estate, people shop for dog walking services quickly and they’re proactive about it.

This means that they know what they’re looking for, do a search on the internet, and then are likely to give their business to the first seemingly-reputable business they can find.  It all happens within a matter of minutes.  So, to win in that game, you have to be found exactly when someone is looking for you.  That’s where organic SEO and Google PPC come into play.

However, in real estate, we know that this is not at all how things work.

Real estate shoppers aren’t looking for real estate agents.  They’re looking for homes or information about homes in regards to selling or buying.  Agents enter the picture only after they’ve already done research of some sort.

And, often, agents are only in the equation because that have to be, not necessarily because a home shopper wants them to be.

Plus, we know that home shoppers and sellers don’t start their research on the internet and then buy their dream home 10 minutes later.  Instead, the buying and selling cycles are typically drawn-out affairs that last for 3, 6, 12, or even 18 months or longer.

This might sound bad at first.  But it’s precisely because of this long sales cycle that helps Facebook be a great fit for real estate agents.

Second, it’s critical to know that Facebook won’t be successful for your real estate business based on the typical “social media” mindset that we’ve been taught for the last few years.

Instead, you should be thinking of Facebook as your “social advertising system” and not as just a place to post your latest open house info and latest community home sale stats.

Indeed, you’re going to have to pay a few bucks to make Facebook work for you as a real estate agent.  This “pay to play” mindset makes some people mad because they’ve been used to a free ride for so long.  But paid advertising really is the secret to generating real estate leads with Facebook.

You need to forget about the “old days” when you could post something and have 90% of your fans see it.

Now, you’re lucky if 10% of them see it.

That’s why you must adapt to how Facebook is working today.

You’ll need to get used to promoting posts (no, not with the “boost post” button, but with the Power Editor).  You’ll need to be able to create ads and “lead magnets” that get people into your sales funnel, email list, and/or into a Facebook custom audience.  And you’ll need to get used to building a relationship with these people and following up with them on Facebook, in paid ads, with email, and in other creative ways.

That last point is really where Facebook shines.  Remember that this is a place to build trust and a relationship over time.

Where most real estate lead generation systems like direct mail, cold-calling, and pay-per-click ads fail – or, at least break down – is that there’s a lack of relationship building.  Getting a complete stranger to trust you these days off of a one-time connection is brutally difficult.

So, face that facts and accept that instant conversions aren’t going to happen for you.  No one is going to go from stranger to your customer in 8 seconds.

Instead, embrace the opportunity of building a relationship.

It’s going to take some work, but this relationship-building is where Facebook is different from other lead generation things you can do.  And this is precisely why it can work for you as a real estate agent.

20: What Separates The Top 5% of Real Estate Agents From Everyone Else – Brian Icenhower

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Summary

Brian Icenhower is an amazing real estate trainer, manager, agent, and more.  He shares what separates the top 5% of real estate agents from everyone else.

brian icenhower real estate coachProfile

Guest:  Brian Icenhower

Market: Kansas City

Steal His Ideas:

  • Top agents consistently lead generate every day
  • Timeblock your day and don’t let yourself be disturbed
  • If you want buyers, get listings
  • An administrative assistant is a great first person to hire in your business

Strategies

It’s the very rare agent that consistently and proactively lead generates for even 1 or 2 hours a day.  But it’s these agents that make up the vast majority of all real estate sales.

Avoid the real estate roller coaster by generating leads each day.  Don’t just transact the business you have and then start all over with the lead generating once you’re through.  Instead, block time to do something each day that gets you closer to having a new client.

There are two ways to work in real estate:

  1. live in the same place for years and years where everyone knows you
  2. for everyone else, you need to timeblock your day to get new leads (usually, do this in the mornings)

If you’re working more than 65+ hours a week and you’re not closing 45+ transactions, you probably either have a time management problem or you’re working with a ton of buyers and few sellers.  You can handle 4X as many listing sides than buyer sides at the same time.  So, top producers are always on the listing side.

So as to not “bother” the general public when you’re prospecting, always tie the reason you’re contacting them into providing them some type of value.

When marketing a listing, try and tie your activities in with opportunities for you to get business at the same time.  For example, when calling neighbors of a listing, make part of your conversation about if they are looking to buy or sell anytime soon.

If you’re looking for business right now, the easiest and first thing you can do is gather everyone you know and put them in one place where you can easily access their info to contact them regularly.  Constantly be building this referral base of people.

The best use of an agent’s time to get the quickest conversions is by calling for-sale-by-owners and expired listings.  That’s because you know they want to sell their home right now.

Scripts are important.  Top agents know that, whether you use someone else’s scripts or your own, you’ll eventually start saying the same things that you know will work.

Every agent can benefit from having a website and other online marketing materials.  When potential customers come to check you out online before they hire you, they want to see a reputable and professional online presence.  However, the core to all your activities starts with proactively contacting people.

When you consistently do not have time to prospect for new business, that’s about the time to hire someone to help you out.  Typically, this will happen when you reach about $6 million a year.  The person you hire should be an administrative assistant, not a buyer’s agent.  This person can actually help you make more money than when you’re by yourself because you have more time to do more important revenue-generating activities.

brian icenhower real estate interview

Lightning Round

What’s the worst marketing you’ve done that others should avoid:  Broker open houses

What keeps you motivated:  Be of service to people

You’ve got 30 days and $1000, what do you do:  Preview properties, knock doors around listings, buy a subscription to a database of FSBO and expireds and start calling people

How You Can Do What He’s Done

Here are the only things a top-producing agent should be doing:

  • generating leads
  • negotiating contracts
  • going on listing appointments
  • showing property
  • (everything else should be done by an administrative assistant)

Resources

Find additional commentary on this topic at Brian’s site, The Real Estate Trainer.

Cole Realty Resource

Real Estate Scripts

CallFire

Mojo Call Dialer

Vulcan 7

 

19: 5 Ways To Establish Authority In Your Real Estate Market

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Having “Authority” in your real estate space/niche is the key to gaining new clients.  That’s because a real estate transaction is a big enough deal to most people that they not only want, but they feel they NEED, a true expert.

Here’s one of the definitions of Authority:

  • the confident quality of someone who knows a lot about something or who is respected or obeyed by other people

19 - 5 ways to authority
In real estate terms, consumers want an authoritative person that knows the area, average home prices, which schools are better than others, how to get the most money, or how to negotiate the cheapest possible price, among other things.

Real estate agents have traditionally tried to command this authority with having a ton of signs in the ground so the community sees their name.  And they try with direct mail farming, or door knocking, or picking up the phone 125 times a day and cold-calling their way to success.

More often than not, these approaches include some self-proclaimed authority such as:

  • The #1 agent in Springfield
  • I’ve sold more houses than anyone
  • I’ll get you 3.6% more money than another agent

But with a consumer’s instant ability to find out everything about you in a matter of seconds, isn’t there a new and better way to command authority?  One that’s easier over the long run and, in the end, more effective, powerful, and economical?

I think that the ultimate way to establish authority in your space as an agent is to consistently and predictably provide value to people.  Teach them something they didn’t know.  Earn their trust over time with knowledgable and thoughtful insight.  This insight is what they cannot get from a faceless algorithm on Trulia or Zillow.

Here are 5 ways to start creating and earning authority:

Provide Your Opinion

Real estate can be a very subjective experience.  One person’s “dream home” is another’s shack.  So, develop your own opinion and stick to it.  Stay committed to why you believe homes should be priced a certain way.  Don’t be afraid to state why you think a buyer might like a certain home over another.  Don’t be shy to give your interpretation of what they local real estate market looks like today and where you think it’s headed.

Consumers can find home-related facts anywhere.  But your opinion and interpretation of those facts is what makes you valuable.

Learn From Others

Your authority is directly related to the value of the insight you can provide.  Can you surround yourself with other agents who know more than you – or with agents who know different things than you?

Constantly be learning.  From this, your ability to teach your clients new things will be increasing and evolving.

Evolve To Meet New Demands

Real estate is changing like never before.  To stay relevant, we must demonstrate our ability to not only to keep up, but to be ahead of the trends to be able to provide our clients with new ways to sell and buy before they start asking for them.

Like every industry, real estate is evolving.  I don’t think you’re going to go out of business if you’re not tweeting 20 times a day or posting your new listings on Instagram.  But I do think that to work with new clients, you will need to be skilled with tools and techniques that consumers are hearing about in TV commercials, in the media, and through their friends and family.

Be Prepared To Reinforce Your Position

If you’re sharing your opinion and encouraging your clients and prospects to adopt new tools and new ways to think, be prepared to answer when people ask you “why.”  Leep in mind that an authority may flex, but typically does not change position for no reason.

Be prepared to stay true to your thoughts, methods, and processes.  Give people thoughtful structure and your perfect audience will cling to it and trust you.

Be Seen And Heard

It’s hard to become an authority if no one ever hears of you.  So, you need a platform to broadcast through.

What that platform is depends on your audience, but I’d suggest that it should be a digital presence.  More specifically, your website should be your main hub because that you own and can completely control.

Earn Your Authority

Authority you’ve earned is much more valuable than that which you’ve proclaimed upon yourself.

Demonstrate what you know in a manner where people can access it at any time and you won’t have to be convincing people to trust you.  Instead, they’ll come to you already trusting and believing that you’re the authority and, therefore, the solution to their problem.