Why Buying Internet Leads Doesn’t Work, And What Does
- Because what you’re actually buying is not leads, but unfiltered prospects.
Especially if you’re getting buyer leads (easier to get. Harder to convert)
- Because if you don’t know what to do with them, they’re worth zero.
Build credibility by adding value to them even if they don’t want to talk to you.
What does work is when you have a complete PROCESS in place.
- CATEGORIZE. Not all prospects are created equal. Don’t treat them all the same.
- PRIORITIZE. Focus is on quality, not quantity.
- SYSTEMIZE. from lead generation to leveraging success
The Real Estate Vortex is the business model that gives you a complete process that will take your business from where you are today to any level you want to go.
For some reason, buying internet leads doesn't work for most agents most of the time.
Hi there, it's Kevin Ward, the founder of Yes Master's Real Estate Success Training and yes, I love technology, yes I love the internet, I love internet leads, I love the internet lead generation, I think it is awesome but for some reason, buying internet leads doesn't work for most agents most of the time. There is a reason for that and it's not that internet leads are bad. It's that you got to know how to deal with them and what to do with them to make them valuable.
Buying internet leads simply doesn't work for most real estate agents and they'll invest several thousands dollars over a few months and they'll go like, "It didn't work for me so I canceled." They get stuck in a contract and it doesn't matter whether its Zillow or BoldLeads or whatever cool program that you signed up for, it just doesn't work for most people. It doesn't mean internet lead generation is a bad strategy, you just got to figure out how do you make it work right. What makes internet lead generation not work for most people and what will make it work for you as a real estate agent. Okay?
Here let’s talk about why it doesn't work and how to fix it. Number one reason that internet lead generation does not work is because what you're actually getting, what you're actually buying is not leads most of the time. What you're actually buying is unfiltered prospects that have somehow landed on a website that indicates they're looking at a house that says, you know what? We're probably gonna buy or sell someday. The problem is that you don't know whether how soon they're gonna buy it or sell and the average incubation period for most internet generation leads is 12 to 24 months and most agents simply don't have the patience or the budget to wait 12 to 24 months to get a deal to convert it. Especially if you're getting buyer prospects, known as buyer leads, which are typically not buyer leads, they may be future buyer leads but today, they're not leads, they're just prospects.
The reason most internet lead generation systems give you buyer leads is because number one, buyer leads are way easier to get, they're way more prevalent, there's a lot more of them. The problem is, is that they tend to be a lot further out from actually doing something. They're 10 times easier to get buyer leads than it is to get seller leads through internet lead generation but they're 10 times harder to convert than a good seller prospect that you generate through the internet online. You just have to know that when you're buying internet leads, which are, I call them internet prospects, that you have to know that what you're getting is most of the time not gonna be immediate business.
The good news is that sometimes it is. You can't prepare for that, you got to be prepared for the long game not the short game, it's kind of like ... in a sense, it's like geographic farming, that you know that over time, any kind of marketing like that, geographic farming works but it's ... probably can't count on it working this month.
You may, and it may work, you may get three listings your first month, yes. You may get three transactions your first month, yes, but I'm talking about building something that you know is gonna work and the reason internet lead generation doesn't work for most agents is they're not in it long enough and they don't have a clear perspective or an expectation of what's gonna happen.
Number two, the second reason buying internet leads doesn't work for most agents is because if you don't know what to do with them, once you get them, they're worth zero. If you don't know what to do with them, they're worth zero. Here's one of the challenges of what do you do with an internet prospect and that is simply this, some of them, most of them are really hard to get in touch with, they don't want to have a conversation. Now you're having to communicate with them by email if they'll respond to you at all and what do you do with them? Because if you're buying internet leads every month, one of the problems is that you're getting 100 or 500 or 1,000 or even 1,500 of these internet leads a month.
How do you manage all those numbers? If you're getting 500 leads a month, that's 6,000 a year. A year from now you got six ... a database of 6,000 people, what do you do with them. If you don't know what to do with them and how to process all that, you just basically throw your hands up and surrender and that is what I've seen, countless agents do. They buy into the idea that, "I got to get some marketing, I need internet leads. Social media, Facebook marketing, man I can do Facebook ads, I can get lots of leads." Once we get them, we don't know what to do with them because we got so many that aren't doing anything today and so we get overwhelmed.
Let me tell you what you do with them. What you do with them is you have a system. If you have system, and we're gonna get to that in a minute, that you spend your time taking those people that are coming into it and building credibility by adding value to them even if they're not ready to do anything and here's the magic, is if I could figure out a way to build credibility with a seller that may or may not be ready to do anything right now but they don't want to talk to me, how can I build credibility with them and add value to them even if they're not willing to engage in a conversation?
Now there is a way to do that that I teach in my Real Estate Vortex Training camp, there's some information on the back of it behind there, you just go to realestatevortex.com, if you want more information about that. This is not a sales video for that but we train you on how to do that. Even if somebody didn't want to talk to you, how can you build that relationship so that when they are ready, they come to you.
Here's what does work. What makes internet lead generation work is when you have what I call a process. When you have a clear, systemized process of what to do with people when they come into your personal circle. When they come into your database, when they come into your world, and you know exactly what to do with them.
There's three steps, here's what you do with them, three steps. Number one, is when they come in, I got to categorize them. Number one is categorize. Number one, are they ... first, in categorizing, are they a buyer or seller? Sellers are better. One of the things I was taught from the very ... from day one of real estate is listings are the name of the game 'cause when you get listings, you get all the buyers you want, without having to pay for them. Listings are the focus.
For me, my belief is if you're gonna go after internet leads, focus 100 percent on getting seller prospects, seller leads. They're harder to get but they're much easier to convert and when you do convert them, they're money. Alright, number one is categorize.
I can categorize buyers or sellers but the second part of categorizing is that some people are ready to do something right away, some people are not, so I need to be able to categorize who do I need to be calling every day, who do I need to be calling every week, who do I need to be calling every month and who do I not need to call for three months or for six months.
Understand that not all prospects are created equal. One of the challenges is they come in and we try to treat them all the same because we don't know how to categorize them so we do the same set of emails, same calls structure for everybody and we're just trying to get something. If I just throw enough mud on the wall, I just stir up enough dust, something's gonna happen.
Well understand, if I can categorize who is most likely to actually become a client and a transaction this month, then I can spend more time and more resources on them then somebody who's not gonna do something for two years. Number one is you have to categorize.
Once I categorize them, and I've got, in the Real Estate Vortex, I teach an A team, B team and a C team. My A team, I need to talk to them a lot more often than my B team and my C team. Alright, once you categorize then number two is you want to prioritize and that simply means I want to focus on quality, not quantity.
The idea of getting 1,000 leads a month, why would you ... what are you gonna do with 1,000 leads a month? I talk about this all the time. You don't want 1,000 leads a month, it just clogs up your system. Focus on ... look, I would rather have 10 leads a month and eight of them are gonna do something, right? Wouldn't that be awesome if you could get 10 leads that 8 out of 10, 80 percent of them are actually gonna list or buy this month, now we're talking.
If you can prioritize, you first categorize, who's most likely to do it and then I can prioritize where I'm gonna spend my time, where I'm gonna spend my resources, my time, my focus, my money and all of that, I can focus on the right people, then I'm gonna get much higher lead conversion, converting leads into clients and into transaction then I am if I'm just trying to ... make sure I don't miss anything and I'm gonna try to be talking to everybody. Managing all everybody, can't do it.
Then number three, once I've categorized, once I've prioritized, now the number third step is to systemize. You have to systemize all of this, that whole process, from lead generation to lead nurture, to lead conversion, to actually then delivering the results, getting a house sold or helping them buy a house, all the way into leveraging that success so I can get repeat and referral business from those people that I built a relationship with and helped them buy or sell a house, all of that can be put together in systems so that I'm not spinning my wheels at 100 miles an hour every day and not getting the results that I want.
Now if you want more help on doing that, I'm just gonna invite you to go down to the description below and check out the Real Estate Vortex, I think you can see it on the screen behind me. The Real Estate Vortex Training Camp. Just check it out, if you want systems, if you want training, I have a full framework, a business model that will help you build a high six or seven figure income in the next 24 to 36 months.
The Real Estate Vortex is the most powerful business model in the real estate space today, because it will solve all of the problems we created and now we are really dialing into taking leads and prospects wherever you're generating them including how to take internet leads, that before we would get them and we couldn't figure out how to get them to talk to us. Even they don't want to talk to me, how do I create ... how do I position myself with them so they not only want to talk to me but they want to hire you and they don't want to hire anybody else. All of that is possible when you learn how to categorize, how to prioritize and how to systemize your entire business to convert leads into business and business into bank. When you do that, you can always expect yes.
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