Client Networking - Group Call Summary – 1/24/13

Steve Kantor
Caroline Collins

1: Lead Management and Lead Conversion
2: Calling
3: Conference
4. Attracting the Top Ten Percent of Buyers and Sellers

Action Items:

  • Have your assistant send Steve the email newsletter stats.
  • Send out both emailed and mailed monthly newsletters to all types of your existing leads.

  • Review the call logs you receive with an eye to providing feedback and sales management advice to your caller.
  • You should consider increasing your calling hours for your large backlog of leads.

  • Immediately start farming the homes in your target area with your preferred price point - start a blog focused on the high end properties.
  • Hire someone to call your Zillow and Trulia leads from the past year.

  • Email Client3 with information on the Craig Proctor conference in DC, possible free invitation
  • Send Client3 information on our Calling Services

Tips from Steve:
  • It is more profitable to convert existing leads rather than continuing to generate new leads without working them properly.
  • Your clients and SOI are your most valuable and profitable leads.
  • All of your leads - clients, SOI, vendor, buyer and seller leads - should be receiving both monthly emailed and mailed newsletters.
  • Maintaining accountability for callers - both our calling team and in-house - is critical
  • You should be doing at least 5 dial attempts for each lead, or hiring someone else to follow-up with this. It is more economical to follow-up with existing leads and call more.


Client1's CGI was about $350K this year, down from what it was the previous year - hit about 85 units this year. Has four people on his team - a showing agent, short sales specialist, administrative assistant and himself. His topics are lead generation and handling and marketing.

Question from Steve: Do you need more leads or to follow-up better with leads you've got? Client1 says he would like to do both but Steve asked which one would be more profitable. Client 1 answered this would be to convert those he already has.

Client1 spends about $30K on marketing.

Steve asked what % of leads do you think you're wasting right now? Client1 said maybe 50%.

Steve: For all of you your clients and SOI are leads - they are your most valuable and profitable leads.

Client1 has about 1000 in clients and SOI combined. Steve would expect him to be getting 40-100 deals per year from these 1000 people but Client1 is only getting 40 so there is a gap. Client1 just started sending a marketing email out in January - going to all 1000 people. Steve asked to have his assistant send the email stats so he can see what group of people it was sent to and some other information.

These people should also be receiving a mailed newsletter. Client1 does not currently do this. Steve thinks the gap is because Client1 is not effectively marketing to all of these people with both email and mailed newsletters.

Also, out of those 1000 people probably not too many are being called. Probably a core group of 100 or so that he should be calling and then hiring someone else to call the rest quarterly.

All of your buyer and seller leads should be getting same emailed and mailed newsletters. Callers should be getting their mailing address.

Client1's database still messy, should be fully cleaned up. Assistant should be maintaining it but it is saying he only closed 25 deals when he closed 85. Suggests that more clean-up needs to be done.

Seller leads should be small enough that he could keep up with them fully. Client1 says he is keeping up with them in TopProducer.

Client1 uses both TP and RealPro - web leads flow into RealPro. However, there have been changes. With new leads, his team is the first point of contact, then they are put into the database - some go into TP but not all. Sometimes there was a time gap before our lead management put the leads in but they have it worked it out now by having his team email if they've made contact so a note can be put in. Client1 also has MarketLeader but it's static - transferred everything out of it into RealPro which was then transferred into TP. Only thing that goes into ML now is from the Keller Williams site every now and then.

Steve: Most realty teams answer the question about needing more leads vs. working existing leads wrong and say they need more leads. And most of these people are wasting 50% of their leads. You can close 50% more business by following up on existing leads, particularly if you focus on the buyers side first. Part of Client1's dilemma is some database confusion and he probably need to increase amount of calling hours. Why spend money farming and marketing to people you don't know while not contacting client base which will convert at a much higher level? Action plan - send monthly emailed and mailed newsletters to clients, SOI, vendors and leads. Then have the calling take place at a level that financially makes sense.

Client2 also did about $350K cgi and had 83 residential sales and 6 rentals. Starting to get more into rentals and property management, trying to diversify. Does primarily residential, a little commercial. He is new to Best Agent Business, just starting using our Calling services and had some questions about calling and scripting. He uses the Craig Proctor system. Wants to make sure they are coordinating well with the calling team.

Steve: Don't overwork the script side of things. Hiring callers is very difficult. Half the callers we hire we fire within 30 days for non-performance. We have an accountability system, using call logs which we send to the clients. Creating accountability with caller logs will increase productivity. We can usually tell from the notes how good the caller is. The client can reply with sales management advice. The callers have to get about 10 hours under their belt - we look at dials, live answers, hot/warm/cold .. if you think they should have asked another question just "reply all" and tell them so. Also, if you see they coded someone as a B or C but want to contact that lead now, just reach out to that person.

The most critical thing is that you are paying $10-$20 a piece for a buyer web lead - once we do calling and get a golden egg - a Buyer A that we escalate to you - you have spent around $100-$200 for it. If your agents drops the ball you lose this money. We have found that buyers agents have wasted many of these. Embedded within our new calling agreement is that our callers are holding the client and their agents accountable for these golden eggs. Callers are motivated to do this by getting bonuses - if clients are unresponsive their callers will want to fire them and go to another client.

Client2 has a huge backlog - about 157 seller new leads sitting there and 200 buyer leads. He needs more calling hours. Steve doesn't care who does the calling. The number of people is irrelevant - it's the calling hours. The number of buyers agents tells him nothing until he can see what they are doing and hold them accountable.

Client3 has been in business for 16 years, just moved his 4-person group to new firm, Coldwell Banker. Did about $40 million in 2012. Steve was impressed with this growth. Moved brokerages mainly because of the cultural integrity of the firm they were with, was unhappy with the practices - they were more interested in acquisition than in the agents.

Client3 is interested in discussing two things - advice about what conferences to attend and recommendations on how to attract the top ten percent of sellers and buyers in his marketplace.

Steve: Conferences - Feb 16th KW Family Reunion in Dallas is excellent. There is also the Craig Proctor conference in DC on Feb 16th - Steve could probably get him a free invite to come test drive it, but will they will try to talk him into coaching. Steve will send him email about this tomorrow.

Client3 wants to attract the top ten percent in his market, which he identified as having a price point of 3 quarters of a million and above - this is about 15% in his area - population is about 40K - homes probably 15k - with about 500 deals happening last year.

Steve: Client3 should immediately start farming the 2000 homes in his target area that are over a million - create a blog focused on the high-end stuff.

He then asked Client3 what per cent of leads he was wasting. Client3 is not sure but said that they normally one do one dial attempt for a Zillow lead. Steve said this means he is wasting most of his leads. There should be more dial attempts made - up to 5 per lead. He should have us do more dials for him. Client3 has received maybe 50 leads per month from Zillow and Trulia in the past year. He's reached someone live maybe 25% of the time. Steve said imagine if he reached 50% live. It is more economic to follow-up and call more. Prices in Client3's area had been falling but are not any more so many people might be ready to sell now. Client3 should hire someone to call the Zillow or Trulia leads from the past year. Steve will send email about this.

At this point we had run over time and had to stop. Steve thanked everyone for joining today and invited them to dial in for future calls at any time - calls are every Wed and Thurs at 11:30am ET.