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The Truth about How to Convert Internet Leads for Real Estate Agents - Kevin Ward

hi there it's Kevin war the founder of

yes masters real estate success training

and the author of the number one

best-selling book the book of yes the

ultimate real estate agent conversation

guide and today I want to talk about the

future of real estate well not really

but yes

really because everybody knows that the

Internet is a permanent fixture and a

major component in real estate now I'm

going to say this upfront that it is not

the end-all be-all of real estate

because most of the things that make

make real estate happen is not the

internet but I'm going to talk about it

and I'm going to kind of help you

understand it but the topic that I'm

talking about today is how do you what

is the best way in the truth about

converting internet leads because it's

really a hot subject in the real estate

market today or among real estate agents

and brokers and that is how do you

generate and how do you convert internet

leads now I want to be crystal clear

that this video is not about how to

generate internet leads that's a totally

different conversation and the reason I

do very little training on video about

internet lead generation is because the

internet is constantly evolving and so

the strategies and the methods of

internet lead generation are evolving so

quickly that if I do a training video

like this on my blog or on YouTube I on

a podcast six months from now it's going

to be largely obsolete or out-of-date so

what I'm talking about in how to convert

internet leads are things that will not

change over time whether no matter

whether you got the internet lead from a

paid service or from a real estate

portal like Zillow or realtor.com or

Trulia or any of those or whether you

got it organically through marketing on

social media platform like LinkedIn or

Facebook or Twitter or wherever it came

from that it's it it's not stuff that

changed over time these are principles

of converting internet leads that are

dynamic that are powerful and that are

that are fundamentals of skill and

strategy that you must master regardless

of where the internet lead came from how

do you convert an internet lead and turn

it into money how do you turn it into

actual income

as opposed to just getting a lot of

traffic and then it all just kind of

sputtering out and dying which

unfortunately happens for way too many

real estate agents so let's let me let

me say this first of all about rules

about the real estate about real estate

agents and the internet a lot of the

talk at there is today is that the

internet is completely changing the way

real estate is done and it is definitely

a dynamic it is definitely a factor in

the way we do real estate but it is not

does not change the fundamentals and

basics of real estate because here are

the key parts of real estate number one

is a house a piece of real estate right

that's the main thing that we're talking

about and on both sides of that there is

a seller who owns the house and there is

a buyer who wants to own the house so

you've got a buyer here a seller here

house in the middle and the transaction

is that transaction of the seller

selling it to the buyer and there's a

real estate agent your job is to

facilitate that transaction and as an

agent to represent the interest of the

one that is your client so all of that

being said everything that's happened in

the internet in terms of the real estate

has not changed that dynamic still a

buyer has a house they want a buyer

wants to buy a house seller wants to

sell a house there's a house to be sold

boom they make it happen and still to

this day virtually all of that

transaction happens off line okay that

transaction does not happen online now

it's absolutely true that over ninety

percent and the statistics are

constantly changing or at least changing

gradually up but 95 96 97 98 percent of

all buyers start their search to buy a

home on the internet absolutely but they

buy it offline they do not buy the house

online they may find the house they may

find an agent but they're going to make

the decision they're going to make the

purchase decision and consummate the

purchase process offline so the goal for

you as a real estate agent is to

understand that and understand that with

all the changes in the internet the

skills and of mastery and being a

professional and some massively

successful real estate agent still are

the same it's all about connecting with

people communicate

with them building the relationship

building the trust helping them find the

right house and buy it or if they're a

seller helping them put them out

position house in the market right

represent them and help them sell it for

the best results that's the name of the

game so the real estate industry is not

changing when it comes to how buyers and

sellers do deals does that make sense

the Internet's a factor it definitely

has changed some things but it has not

changed the game so having said that it

does change has changed how a lot of us

are getting leads just because we're

getting leads from the internet and this

didn't even exist 15 20 years ago in

terms of being a serious metal for lead

generation so how do you convert

internet leads from the internet into

actual transactions to sellers to buyers

to closings and so forth so there's five

steps five key elements that you've got

to understand and that you're going to

want to master to be effective with

internet leads once you generate an

internet lead here's what you have to

know number one is that as you generate

it what you're actually getting from the

internet typically is a prospect not a

lead see a lead is someone that you know

is going to make a decision in the near

future in the next who I define it is

any time in the next 30 days whenever

they first come online I don't know

where they are in the process but most

of them are not ready to buy a house

today they're not ready to sell their

house today and it's important that you

have a clearer perspective than what I'm

getting and from the internet that these

these leads are really before I until I

talk to them they're just prospects

they're their potential buyers and

sellers and if you if you understand

that that these are prospects not leads

it helps maintain a perspective of

where's my where is my business

what is where are the where are the

pipelines in my business filling up

because if I can have 150 let's say you

again 150 internet leads a month what

does that mean how many deals is that

converting into well those 150 of those

there may be only five that are actually

going to buy or sell a house this month

so initially I have 150 prospects I have

converse

with them and I realized you know what

145 of them are going to take some time

they're not really leads today they're

going to be leads they're going to be

buyers and sellers down the road but

they're not leads yet now the way I the

way to me the way this plays out so you

have a perspective of it is anybody that

is ready to do something now they're

going to give you an appointment

enough appt that's what I'm looking for

with a buyer or seller when the best

thing is to get an appointment with them

which would be a listing appointment or

a buyer consultation appointment you're

going to set an appointment with them

they're going to go by they're going to

sell okay if they're not that's if

they're ready to do something now now if

what if they're not ready to do

something for a while but it's near it's

it's it's imminent here's what I look at

a lead is somebody who will meet with me

have an appointment in the next 30 days

or less less than 30 days they're less

than a month away from actually setting

an appointment making a what I call

signature decision which means to list

their house or to buy a house that's

hope that would be a lead anybody that

is over 30 days out okay so it's 30 or

more days out than they are what I call

per your personal circle they are a

future lead but they're not a lead right

now

another reason that's important is this

is my funnel I'm kind of drawn it from

farthest away from making a decision to

closest to making a decision

these are people that will make a

decision right away these are people

that are going to make a decision

sometime in the next month or so and

these are people that are over a month

out if I understand that these people

right here these are internet leads

these are real leads these are prospects

they're down the road a bit then it

helps give me a perspective of what can

I count on in terms of business

immediately and understand you take them

through the process do a conversation of

pre-qualifying them so that I can find

out are they a are they immediate

business or are they future business and

it just helps you have a great

perspective that if when people start

out and they start getting these

internet leads and they go I got a 50

new leads I'm so stoked or 20 new leads

in a week and they're like yes I got I

got it made and then a month later none

of those 20 has turned into a single

deal and another month goes by none of

them

into a single deal or only one of them

and they're going like maybe this is the

wrong way to go

well maybe or maybe it's just you had an

unrealistic expectation that you are

going to get internet leads what you're

actually getting is internet prospects

who some will be leads and now and

mostly of them will be leads in the

future

okay so just have a perspective of most

of what you get on the Internet there's

not leads what you get is prospects now

how do you convert them from a prospect

to a lead and here's the answer number

two you've got to talk to them the key

to converting internet leads is to go

from online to offline as fast as

possible the faster I can get them from

the internet into a one-on-one

conversation with me

the faster I that not only the faster

can I get business from it but the

stronger the connection is the more

likely I am to get business from them at

all now or in the future so as fast as

possible you want to take the

conversation offline off the internet

portal as long as it's still on the

internet portal you don't really have a

strong connection because there you're

probably not the only agent that they

that has them on their radar because if

they've gone to your site they put in

some information they've asked for some

information or whatever they've probably

done it with more than one agent and

they are there they got four or five and

they're moving along from this Web site

to this web site they saw this property

it was your listing they put in your

information asking for information on it

and then they went right on to the next

one so you got to understand that the

key to converting and this right here if

I'm going to say there's a big one this

is the big one get the conversation

offline get it personal okay how do you

do that

call if they're if they've got phone

numbers boom I want to be on a cotton

farm phone call with them immediately

know if it's if it's just an email

I want to be talking to them say hey

Greta saw that you were looking at this

property great what is the best way for

us to connect and see what I can do to

help you you want to take it from online

to offline as soon as possible number

three and this is another huge one if

you want to convert an internet prospect

or an internet lead will call but it's

an entry in' internet prospect if you

want to convert them to a future client

it is the speed with which

you connect with them speed is critical

it is very important that you get in

touch with them quick now here's what

I'm seeing with my coaching members and

I've got several coaching members that

are that are generating tons of business

from internet leads and some of them are

generating hundreds of leads a month

from the internet here's what they have

found out you need to talk to them

within two minutes from the time they

put in their information especially if

you get a phone number

boom you want to talk to them within two

minutes and the best those that are

going to having the best impact are the

ones that have themselves in a team

member either a customer service person

or an ISA and inside cells agent another

licensed person who can make the call

immediately if you can't so they're

literally getting notified boom you just

have an internet lead immediately the

agent you want to call them which is a

little bit of a challenge can be a

little bit of a bit of a challenge

because what happened is they went on to

your website or they went on to a

website they found your listing boom

they put in their information well

they're looking at that house that they

put in their information on they're

looking at it they're looking at it

they're looking at it they're looking at

it boom phone rings it's been less than

60 seconds or less than two minutes

they're still on your house they're

still on that property and they're like

wow how did that happen

but now they talk to you there's a

connection and they'll actually answer

the phone and boom now you've got them

but what happens is they're only on that

page looking at that house for about two

minutes and then they're going to go to

another house and they're going to see

that agent that pops up on it boom

they're going to be putting their

information in then they're they've gone

they've moved on the further away you

are in calling them back from the moment

they put the information on the less

likely you are to get a connection with

them to actually get them to answer the

phone and talk once they've got off the

internet looking at houses they're not

they they're much less likely to

actually answer the phone at all so

speed to connect with them to call them

back and actually make the effort to

talk to them is critical call them

immediately and then call them multiple

times that day three or four times that

day if you don't get in touch with them

to do everything you can to connect with

them quickly the first agent that the

first agent to

contact the first one to make the

connection is going to win the battle

most of the time because now you've

taken the conversation offline into a

live relationship where you've not

connected with them off the internet

portal that they found you on all right

that's number three number four is

simply patience again you have to

understand that the average internet

prospect the average internet generated

leads it at the incubation time for them

is 6 to 24 months most of the time when

they come to you online they are just

beginning the search they're just

beginning the process of getting ready

to sell their house or getting ready to

buy a house they're not ready to do

anything today and so when you have the

conversation you contact and you

immediately get in touch with them there

is a high probability they're still not

ready to do anything today now there's

always going to be some that are ready

to do something right now beautiful

awesome get an appointment with them

boom you got business now you have

converted the internet lead because you

took action immediately and they were a

lead you talk to them you took it

offline you connected with them fast and

now you can generate you can convert

them into a listing or a buyer but

you've got a plan on it's not going to

happen fast now another thing is a lot

of the way internet leads are set up

internet lead generation models are set

up the vast majority of internet leads

on most portals are buyers and one of

the things that I do with my coaching

members is is that you learn and Bill

learn to build a strong listing based

business and to to focus your internet

lead generation toward getting sellers

as opposed to getting buyers because

it's it's just way the way you control

your business listings are the name of

the game and if you're going to do a lot

of lead generation and you get a ton of

buyers that are prospects and they're

six to 24 months out you can fill up so

much time and especially unless you're

really skilled at how do you how do you

work only with buyers that are ready to

do something now you can spend your you

can spend 60 80 hours a week showing non

buyers in other words showing prospects

who are not going to buy for

six to 24 months and you're literally

wasting your time and starving and going

broke because you're spending all your

time with people who aren't actually

ready to do something today okay I hope

that makes sense so you got so you've

got to be patient and be realistic that

when I'm getting these internet leads

most of them are prospects it's going to

be six to 24 months I've got to be

willing to nurture them and not get

frustrated and quit if you're going to

do an internet lead generation model

you've got to know that in general it's

not a turn-and-burn boom boom boom

you know get a lead convert it get a

lead convert it it's going to be get

illegally get illegally and it's going

to be nurturing our generator nurture

nurture convert and it may take you six

months before you convert a single one

now you'll probably if you're consistent

and you're generating enough leads

you'll probably convert one a little bit

quicker but the numbers and odds are

it's going to be on average 6 to 24

months with any online generated

prospect so number 5 if you're going to

make all this work and you're willing to

be patient with it the fifth thing that

makes the patience payoff is that you

must have a nurture system in place to

take care of them for that 6 to 24

months until they are ready to do

something so it go it goes this way I've

got somebody they come online they find

me they're interested in selling their

house but not today I talked to them I

made a connection with them I cut I got

in touch with them quick boom

conversations offline but they're not

ready to sell a house right now they're

not ready to move I can I can do one of

two approaches I can either try to

convince them to move now which

typically just leads to frustration and

resistance they're going to resist you

and avoid you because you're pressuring

them to do something they're not ready

to do now you can try to BS them which

is what some agents do but that's the

work of amateurs not a professional or

you can't build a relationship with them

and be ready when they're ready the

trouble is you can't do it with a ton of

people if you don't have a system

because what'll happen is you're getting

100 leads a month boom boom boom all

those hundred leads turned into one deal

this month there's 99 that could be a

deal in the next year or two but I don't

how do I stay in touch with them

you create a system

and again one of the things that my

coaching members learn and what I teach

is you'll learn what's called my

personal circle system and what it is is

what it is is his if they're not ready

to do something now they're not a lead

today they're just a prospect they're a

future lead I've got to have a system to

nurture them that will work for six to

twenty four months that does not they

that allows me to build that

relationship with them in a way that

doesn't overwhelm me and where they

don't fall through the cracks now I'm

just going to lay out for you the basics

let's say you've got somebody that is

six to 24 months out how do you nurture

that relationship here's what you do you

put them in what I call a personal

circle in that personal circle I want to

talk to them now they're not a lead yet

they're not ready to do anything yet but

I want to talk to them one time per

month until they are so I may have to

call them once a month for six months

once a month for 12 months once a month

for 24 months it doesn't matter and my

goal is to be constantly building

credibility in the relationship and

positioning myself as their go-to

realtor that's your goal so when they

are ready to do something you're the one

that they're actually calling one time a

month you're actually going to talk to

them you want to be sending them again

this is the nurture system is you want

to be sending them an email two times a

month now I recommend the two emails

every month are very simple it's

something that you set out to everyone

in your database everyone in your

personal circle one is a market update

what's happening in the market in your

city in your town and in its better if

it's itemized by suburb or by market

area so that when if it's their specific

area they can click on it and get more

details and it's basically a simple

market update here's how many homes are

on the market what's the average days of

the market how many homes sold in the

last 30 days what's the average list

price average sales price and and so

forth very very simple but it's a

graphic that they can it just gives them

an update on what's happening in the

market but it mainly reminds them that

you are in the real estate business that

you are their agent the second email is

simply a my featured listings of the

month

and it's basically a an email that has

the front pay the front picture of each

one of your listings in that email with

a hyperlink

maybe the address and the price and the

picture of each listing whether it's one

listing your ten listings on that email

so they just see Wow

and and they're looking at it one like

Wow Kevin Ward's in business he does

real estate and he's got listings he's

got featured listings if they're a buyer

you got something they want which is

houses for sale if they're a seller they

go like wow he has featured listings

when we're ready to sell we want our

house to be a feature listening and

either way with that what you're doing

is you're establishing credibility with

the seller with the prospect until they

are ready to do something and that's

that's a very simplified but I want you

to understand if you create a system

that for everybody in your personal

circle whether if they're looking to do

something the next six to 24 months I

just simply know I need to talk to them

once a month on the phone and just say

hey wanted to touch base I know you guys

we're not planning to actually put your

house on the market until August after

your you know your youngest son goes

away to college I just wanted to touch

base and see if you're still on track

with that timeframe and they go yep

we're still on track with that time

frame still six months away

great well is there anything you need

right now any questions you have any

information I can get for you no we're

good all right awesome

well I'll look I'll look forward to

talking to you soon in the meantime if

you know anyone else or who do you know

this looking at buying or selling right

now that I can help and you can ask that

question occasionally the key is I'm not

trying to convince them to do something

that I want them to do I'm simply

positioning myself as this as someone

who's there to help them I'm

professional I'm consistent and I let

them know Here I am when you're ready

and they like that and they're that

consistency tells them they can count on

you that they can trust you that you're

a professional and so when they are

ready they're not going to be calling

anyone else you're going to be their

go-to agent because you had a system in

place that allows you to nurture them

without them falling through the cracks

and yet you are realistic that they were

a prospect now future lead not a lead

today and if you'll do that then you've

got the time and you've got the

perspective and you've got the structure

and system in place to know that as

these leads come in they're going to

convert some are going to convert fast

some arcane going to convert slow it

doesn't matter the key is when you build

it right and and I'm going to say right

in here the ones that are leads you've

got to have a good lead follow-up system

when you have a good lead follow-up

system and you have a great personal

circle system in place it allows you

without people falling through the

cracks to convert all the potential

business whenever they're ready I'm

ready to make it happen for them so let

me know what you think about the video

if you like it give it a thumbs up make

any comments or questions that you've

got put it here be consistent

stay focused and always expect yes