Let’s get into it, everybody. there’s a couple things we wanna talk about today. Specifically. One is lead follow up, and I think it’s really important that we talk about lead follow up because we’ve had a few conversations, with agents in the past few weeks, listen as real estate agents, we get busy.

we’re always chasing the next deal. And of course, lead follow up. That’s where the gold is, right? the work you put in now, as we always say pays off three months from now, six months from now, nine months from now. so there’s really, you know, we’ve talked about this before, but we’re gonna go into specifics here a little bit about the four parts to calling back leads or following up with leads.

What are the four parts? Well, as we know, nothing replaces the phone, right? We wanna get leads on the phone. However, we’re having to become adapt at texting, emailing, whatever video blasting, voice, you know, voice messages, whatever it might be, but there’s four parts essentially to following up with the lead.

Number one is actually calling the leads. Actually calling the leads back. Okay. Not texting right away, calling the leads back, trying to get them on the phone. So how are we doing that? So there’s basically two types of leads, right. And there’s two different ways to follow up. The first type of lead is, branded or organic, right?

So they reach out to you. Or your team or whatever it might be, they reach out to you that’s branded or organic. Number two is an online lead, right? Like maybe from direct response, maybe a sync lead, right. Or something like that. Another lead you’ve generated online. Right. That’s, that’s an online lead. So there’s two different types of leads branded in and organic where they reach you and the ones that you are calling out to.

Okay. It’s hard to believe that a transaction would happen without an actual phone call or conversation between humans. Right? So you have to think about that, right? Like how, what are you doing to get these leads on the phone? So, we talk about that, first of all, let’s, let’s talk about those that might not be, or no, first of all, those that are expecting your call.

So a branded or organically they’ve reached out to you and they’re expecting a call back. Now you want to call them back immediately, ASAP. you know, speed to lead, right? Remember that phrase speed to lead. You wanna make sure, you call them right away if they’re expecting your call. So if you’re getting agent Pronto leads, some of you get agent Pronto leads, you know, you should be speed, dialing them, right.

Slow motion before you hit the ground and call is dialed, right? Like you need to call them back immediately and keep in mind if you’re getting some of these third party referrals. sometimes the leads ask for more than one agent to call.  right. These are not an endless source of leads, right? They’re from a third party referral source.

Right. If we don’t close them, if we’re not following up with them, if we’re not updating notes, we will not get them. Right. So you want to call them immediately, especially if you don’t know if they’ve requested another agent, not only that, if they’re online looking for an agent right now, and they’ve reached out to you, they’ve reached out to a few other agents, most likely, most like.

Right. So get ’em on the phone. Nathan, remember back in the day, with the AP leads, they would send them out to three agents, I think at the same time. Right. They would send them out to. Yeah. And what, what did the skilled AP agents do? We’d call immediately and keep the lead on the phone the whole time.

So as the other agents tried to call in, they’d be sent to voicemail. That’s what we did. Well, I was, that was my move. I would just keep em on. Wait, wait, wait, wait another thing. And I would just keep em on the. The other people would give up and make a voicemail. That’s what I would do. Right. So speed to lead.

Remember to call back immediately, not like later in the day, you know, not when you’re driving in the car, like immediately, right. It doesn’t take much. It’s just a, you just need to touch base with them immediately. Okay. Now strategic response, this is a, you know, a sync lead, perhaps, you know, more of a cold call, right?

what are the steps there? Well, you wanna make sure you block out time and this is super important block out time to do. Follow up, right? Some of you do have your own lead gen sites and you’re generating your own leads, block out time for it. Right? Let nothing distract you, book it in your calendar, put it right in as an appointment.

I always liken it to, you know, one of the ways I, I got in shape over the last, well, not great shape, not a Donis or anything, but over the last few years I went to, orange theory. Right. And I had to actually book in the time. Right. You have to book in, the week before. And if I didn’t show up for the appointment, I was charged.

Okay. I always charge money for that. So the point is, you know, book it off as an actual appointment and then avoid distractions. We talked about this before, you know, sometimes if you got YouTube open stuff like that, you’re looking at the funny cat videos and you’re not making the calls. Right. And when calling’s uncomfortable for you, you’re looking for distractions.

So make sure, that nothing does that. You know, nothing distracts you. Okay. Here’s where it gets. Interesting. Here’s a few hacks that I want everybody to pay attention to. you wanna call right away. And if they don’t answer, don’t leave a message. You call back right away again. Okay. Some refer to this as double tapping, right?

The double tapping call. They don’t answer call back right away again. Okay. What happens when you see the same number call twice? Like back to back, you understand it’s probably more than just a casual phone call. They need to get hold of you. Your people are more likely to pick up the, the call. if they see the same number calling back to back, does that make sense?

So the double tap super, super important. now if the lead does not answer the phone, then you text. Okay. So double tap then text. Okay. What are you texting when you’re following up with the lead that doesn’t answer the phone. What are you texting? Right. Most agents get this wrong. Most agents get this wrong.

most agents will go, Hey, this is, Shane Goodyear. I’m a real estate agent. I understand you’re buying a house, blah, blah, blah, blah, blah, blah, blah, blah. I’m not saying you Shane. I just, you’re the first name I saw on my screen, but, they go on a whole paragraph, you know, of information that the sellers, or whoever the lead, understands who you are.

They’re less likely to call you back. You want to text just a lit one sentence. Okay. One sentence. So if it was Nathan, I’d say, Nathan, are you there? That’s it. Or is this Nathan? Is that Nathan? That’s it. That’s all I’m texting one sentence, right? If you get a text that says, Hey, is this, Spencer?

You’re like, who is this right now? You’ve got them now you’re engaging with them over text. Right. if Nathan responds with a text like this, yes. Who is this? Which is what you probably get. Yahoo’s this, you respond with it’s David, I’m calling you now that. That’s the second text. It’s David, I’m calling you now.

Now they’re gonna answer most likely your conversion rate may go up on the phone right now. If they don’t answer after you say that, right. Nathan will say, I can’t talk right now. What’s this about right. If they don’t answer, then, what’s a good time to call you. It’s about. The homes you inquired on the info you wanted, but not a lot of details.

That’s when you text what the purpose of the call is. Does that make sense? Double tap text. Is this Nathan right? Yes. Who’s this it’s David. I’m calling you now. They don’t answer. Then you follow up with a little bit more details now. That’s one approach. Another approach is to call it another point in the day, et cetera.

I do like the double tap in the text. the conversion rates on those leads go way up if you’re actually incorporating that. Right. So think about that. It’s a little bit of a, a work hack. And then of course you have the GP G follow back, or call back script. Sorry, call follow back, call back script.

Right? So that’s, that’s a little phone hack. Number two, this is the second part of lead follow up, which is we call it following up by land air or C, right. Which is a text, email, voice, or video blast. Okay. we, I mean, I don’t know. I know agents that are, Using bomb bomb or loom, or, you know, they’re shooting a video on their phone and they’re texting that to a prospect or lead.

I think that’s really powerful. And I think that really works, but, you know, as we said, nothing replaces the phone, right? So this is simply in addition to, right. So if you have unreached, leads, that are getting your tax, you know, there’s a, I think it’s a 98% read off rate. So, so if you text someone 98% of, you know, those you text actually read.

Not that they follow up or not, but, text to video. Email’s good. what should you be sending? I’m not sure I have your address. So I recorded a video for you. You can watch it here, or here’s another one been trying to reach you in response to your request. Here’s a video with additional info info.

I think it was Curtis that was using loom. Has it, how many have heard of. Yeah. Loom is really interesting because you can record yourself doing a video and then doing like a, you know, five minute cloud CMA or something like that with comparables, and then sending that off. That’s really powerful. Right.

That’s really, really powerful. Yeah. Loom is amazing. It’s true. Steven, and then point number three is fulfillment. Now, if somebody asks for something or they’re expecting something from you, make sure you send it. Make sure you send it to them. Right? Hot list of homes in certain area or off market properties.

Right? Last meeting, we talked about where to find off market properties, make it, make sure you follow up with that, right? Make sure you follow up with that. Now fulfillment. When we talk about fulfillment, if you’re taking notes, you want the fulfillment or the follow up to be magnetic, magnetic fulfillment.

We call it magnetic what’s magnetic fulfillment. Well, it includes these effort value. Unique selling propositions. Okay. So they, you want, you want your clients, your leads, your prospects, to understand the effort you’ve put in to following up with them. Number two, the value. There’s gotta be some value in what you’re sending them.

And number three, unique selling propositions, right? It’s an offer. So you control the content. You make an offer. It’s magnetic. It generates, it generates them picking up the phone and calling you back because of it. Okay. Just simply putting someone on a search. Uh doesn’t. There’s there’s five or 10 other agents that have put that lead on a search.

So you wanna stand out as different. Okay. So again, magnetic fulfillment is effort, value and unique selling propositions control the content, make an offer. And then, the fourth component to this is remarketing. You know, following up with leads in your database, they should be your audience, right? So they should be on some form of.

You know, USPS, Goodwill, testimonials touches, email blast, video blast, whatever that might be. It takes work an effort, right. But that’s where the gold is. It’s in the database there. So, just remember that. And of course, we’re gonna be talking about doing follow up calls and booking for zoom consultations on subsequent masterminds.

But I do want everybody to avoid this crucial mistake, cuz I think this is super important. People pay attention to this is that it’s not the leads job to call you back. It’s not. Okay. It’s not the leads job to call you back. It’s your job to make sure you connect with them, right. And simply putting somebody on a drip and, and expecting them to call you back doesn’t work, right?

Send them properties and follow up. And I’m gonna put this into perspective. I say this once every six months, I’ve said this for years, this is the MIT study. And y’all know this. If you’ve been on these meetings, here’s some numbers for you. 2% of. Are made on the first contact. 3% of sales are made on the second contact.

5% of sales are made on the third contact. Only 10% of sales are made on the fourth contact, but here’s where it gets. impressive. 80% of sales are made on the fifth to 12th contact. 80% of sales or conversions are made on the fifth to 12th. Right. It’s pretty sobering, right? But here’s, what’s even more interesting.

48% of salespeople never follow up with a prospect. That means they make a, a phone call, leave a voicemail and expect them to call back. So they never follow up. 48% of salespeople never follow up with a prospect 25% of salespeople make a second contact and stop 12% of salespeople make three contacts and stop.

And then notice this only 10% of salespeople make more than three contacts with the. You should not be in sales. If 80% of sales are made on the fifth to 12th contact, but only 10% of salespeople make more than three contacts with a prospect. Well, then there’s a big gap there, right? So you want to fill that gap.

It’s really, really important. You pay attention to those numbers. Sobering right. When you think about it, 80% of sales are made on the fifth to 12 contact, but only 10% of sales people make more than three contacts with prospects. So, food for thought. I want everybody to think about that going forward, how you’re actually following up with the lead it’s critical.

Following up by land R and C being adaptive at texting, voicemails, video, right. Videos gonna be a lot more important. Of course. how are our phone skills with following up leads? I think that’s really, really critical. Okay. Okay. We do wanna cover this. That was following leads. I thought that was fire content.

I thought that was I, I hate to interrupt, but can you just tell me that last. No, I can’t, dude. You missed it. You missed it. Okay.  for apathy for welcome here, everyone. Welcome here. Apathy.  I love you. I love as you late, actually late. Exactly. Welcome here. so we’re gonna move to this next section, which is, we were talking about fisbos, and there’s a reason why this came up.

I’m gonna play this for you. How many saw this? The hidden camera stuff from the, did you guys see. Okay, we’re gonna play this. And this is really, this is a key discussion. So want everybody pay attention to this video? Hopefully there’s no. Joanne petite is selling her house, but doesn’t wanna pay the 5% commission real estate agents expect.

That’s about 75 grand. That’s a lot of money. It is a lot of money. So she’s selling privately, but will agents representing buyers still come when the payday is smaller? Joanne is still offering buyer agents 1% of the sale about $14,000. She’s been worn by other agents. They won’t come. Were you left with the impression that your house was almost blacklisted?

Absolutely. That’s how it was referred to me. Hello. So we’re posing as undercover buyers asking agents to show us Joanne’s house. I’ve been trying to reach them to see like what’s the problem. The first agent tells us she can’t reach Joan. I haven’t heard back from him. Joanne says, that’s not true. We never received a call.

She told us she called I, she called and left a message. No, no message was left. That’s disgusting. Is that steering? Yes, of course. That is real estate lawyer. Lisa Laredo says steering away from a low commission. Is illegal. It’s an absolute contravention of the code of ethics onto another agent. The home is 200,000 overpriced.

Do you wanna go and see it? The price is consistent with similar houses in the area. Besides that agent tells Joanne a different story. When we told her there would only be a. Percent commission. She said, I’ll keep my clients to myself. When marketplace reached out to the agents who steered both denied doing so, but it doesn’t appear to be isolated.

Some agents may be very cognizant of what they’re getting paid and pushed thereby or to another home. We called agents across Canada. Many told us steering happens all the. It’s not right, and it’s not ever supposed to happen, but it does happen Rico, the real estate regulator in Ontario calls all this troubling.

They wouldn’t talk to us on camera, but did send a bulletin to agents, warning them, steering is illegal and that it must stop.

I interesting, right? Shocking, shocking. That agents would steer their clients away from low commission, properties or for sale by owners. Right. Shocking. This is really important to understand though, guys, this is really important to understand. And the reason why is you heard the cons, you know, the, the client, the seller, you heard the seller there talking about the commission rate.

Okay. What’s happened is people are, What what’s happening is people are more informed than ever before. So, and we’ve heard sellers say this, the line item, the commissions, right. Agents have to articulate what makes them valuable in order to charge those commission rates and consumers are figuring out how to sell their properties on their own, right?

Especially in hot markets. Now why this is especially relevant. You better get used to this more. There’ll be more and more discounted commission rates on the MLS. This is a. Okay. Especially what, like we said, while the market’s hot, in fact, we’ve heard of some brokerages we’ve heard of some brokerage.

Well, yeah, we’ve heard of some brokerages, unnamed. what they do is they, they, they, they charge the full commission and then they put the coal broker on the MLS as $1. Okay. So now it’s up to the buying agent to go negotiate their. Okay. The downward trend on commissions over the last five years is pretty staggering.

We’ve talked about this before. So how are you negotiating your money with a, for sale by owner or discounted, commission, listing. How are you doing that? Can you do that right? Are you steering your clients away? As they said there it’s illegal. You shouldn’t be doing. You should be able to go and get your money.

We show our clients every house that’s on the market. Nathan, I think is a master at this. He was really good at negotiating his commission rate when it came to sellers. Right? So, Nathan, I think you were like me, if you, if your client wanted to see it for sale by owner or a discounted, you know, commission listing, we got excited.

We got excited. Hundred percent. Why did we get excited? Why did we get so excited up? Cause it’s payday. It’s time to get paid. Exactly. That’s why  so, so like a lot of people, a lot of people might watch that article and think like we should have a discussion on, on like how not to get caught in a sting operation on camera.

But that’s not that that’s just the fruit of the problem, right? Not the root, like the root, the real issue is the fear of not getting paid. That’s a fear that agents have. Right. And, and so, like, that’s what we kind of wanna address a little bit because it is the industry’s dirty little secret, you know, agents they’ll go through, through comps on the MLS and, and they’re more partial to the ones with the higher commiss.

Like it’s human nature, but again, it’s, it’s not right. It’s not how it should be. for one, it limits the inventory that you’re sharing with your buyers, and G buyers, they shouldn’t have that problem. So here, like we’re, we’re gonna talk a little bit about how to expose your buyer to all properties, even for sale by owners.

But, still get paid. And of course, that all comes back to, as we’ll all I’ll remember from previous masterminds, the buyer agreement that buyer agency agreement is how, you know, what you’re going to get paid. Like it’s astonishing that so many realtors will drive around for months and have no clue what they’re gonna get paid at the end.

And that’s, that’s kind of what David was alluding to at the beginning. You know, you have so much more confidence. If you know what you’re gonna get paid. when you’re working with a client, it just takes all of that concern over, you know, oh shoot, it’s a rhino Realty listing, or it’s a 2% listing or a com you know, when you’re walking up to the house, like you’re not even looking at the sign.

It’s kind of irrelevant. Right? So if you remember back to the magic sentence that we use, when we’re signing a buyer’s agreement, who remembers that? Do you remember that? The magic sentence? So it’s not, this is your commitment to working with me, Mr. Byer. That’s not the magic sentence.  the word commitment is repelling.

So the magic sentence is if you’re taking notes, write this one down Mr. Byer. This allows me to get paid by the seller instead of you having to write me a check, is that okay with you guys? That’s the magic sentence. This document allows me to get paid by the seller instead of by you. Are you okay with that?

And of course, they’re gonna sign that thing from that moment forward, everybody, you know how much you’re gonna get. So if you’ve written in there, you know, three and a half percent or three and a half, one and a half or whatever, you know, you’re good to go now we have to be realistic, right? When we’re out there and we’re showing a house can a buyer who just saved up $30,000 for their first house also afford to pay you $8,000 out of their pocket for their commissions.

Like, can they, can they afford the down payment? And write you a check for $8,000, of course not. So if they have to pay you cash, then they can’t get a house anymore. It’s super simple. And so when we have that in our, in the back of our minds, it kind of creates this clarity for the dialogue, right? Like they can’t buy a house and pay the commissions.

That’s what that agreement is for. So when we’re talking to an agent or this, you know, this lady in the, in the video, We just front, when we’re first talking to the agent, this is what I would do all the time. I would call up the agent and I’d say, Hey, listen,  this, this buyer owes me $8,000. Right. We have a buyer’s agreement.

They owe me $8,000. and they would like the commission included in the paperwork. So if we write an offer, is that okay if we include the commission in the paperwork and the agent’s gonna say no, It’s gonna say no way, man. We’re offering $500 flat and then I’ll explain to him, listen, if you’re willing to accept $400,000 for this property, I assume your seller would also accept $408,000.

But I include the commission in the paperwork. Am I right? Now that’s a, that’s kind of the key focus of this, this dialogue. If the seller will accept $400,000 for the house, I assume they would also accept 408,000  and have the commission included in the paperwork. So the buyer doesn’t have to pay out of pocket and the agent will think about that for a second.

And then I’ll say, . Yeah. Yeah. That makes sense. That makes sense. Okay. Let’s, let’s go for it. Send over your offer. Let’s do it. Right. And then throughout the negotiations, you just keep doing that if they allude to it. Right. So if you come back, let’s say you settle, the agent comes back and he’ll say, well, we’ll take three 90.

but that’s without your commission, say, stop doing that. Mr. Realtor  I told you it has to be included in the paperwork for the buyer. It’s the buyer’ss instruc. Which they gave us in the BA agreement. Right. So if they’ll take three 90, will the seller accept 3 98, but have the commission included in the paperwork and you just keep doing that until you come.

To a negotiation conclusion and you get them their housed. and we’ve done this tons of times. So, you know, for, for the sake of time, we won’t role play it out. But if you ever run into this situation, call me or call David and we’ll walk you through it. It’s, it’s really good. Now this seller in the video, talk about her for a second.

I’ve been in that situation before and, and frankly, it’s the dream come. I remember one for sale by owner in Tuscany. we bought her house while was a couple, so we bought their house and, they were, they weren’t represented for sale by owner. I had the buyer, of course, I’m one of the only realtors showing their property because I know I’m gonna get paid.

And, and we’re sitting there at the table and they’re like, we don’t really know what to do. You know, they’re asking me now to kind of like give them advice. So, you know, I said, listen, why don’t we we’ll do a one day listing  so you can have the benefit of my brokerage’s trust account and the lawyers and everything.

All the conveyance will be taken care of, blah, blah, blah, blah, blah. And, we, I ended up double ending it for full pop. So it was a, it was a for sale by owner that wanted to pay almost nothing, ended up paying full realtor price and we double blended it, you know, as in customer status with my seller and with the buyer.

It’s fantastic. So, look forward to this stuff, everybody, like David said, it’s, the commissions are not going up.  so for the rest of history, you’re gonna have to be, really comfortable with this dialogue, but it all comes back to knowing what you’re gonna get. And if, if your buyers, if you’ve communicated with them properly and everybody knows what you’re gonna get paid, then it’s just transferring that to the actual transaction, which we’re really good at here at the G G and that dirty little secret, you know, people pretend like there’s no inventory, but buyers at the G G buyers who use GP, G agents, they have the most inventory of any buyers in the industry.

And it’s because of what we’re talking about right now. That’s a fact, that’s a fact. So just land the plan on that, you know, you’re gonna have to become a adapt at sales skills, right. And negotiating your money. That’s a fact you’re gonna have to figure this out. Right? So like Nathan said, if you run into this, you know, give us a shout and we’ll kind of walk you through a, a little bit more dialogue that you, you know, you can, you can do in person.

And of course, you know, the other part of it is, is that, are we adapting our present? and how we’re selling to the personality type too, both the buyer and the seller. Right. So this is super important to understand, there’s a few little ins and outs there that, that don’t get you in, in trouble there.

But, yeah, like we said, if you, if you run into this, make sure you reach out to us.

 Let’s get into it, everybody. there’s a couple things we wanna talk about today. Specifically. One is lead follow up, and I think it’s really important that we talk about lead follow up because we’ve had a few conversations, with agents in the past few weeks, listen as real estate agents, we get busy.

we’re always chasing the next deal. And of course, lead follow up. That’s where the gold is, right? the work you put in now, as we always say pays off three months from now, six months from now, nine months from now. so there’s really, you know, we’ve talked about this before, but we’re gonna go into specifics here a little bit about the four parts to calling back leads or following up with leads.

What are the four parts? Well, as we know, nothing replaces the phone, right? We wanna get leads on the phone. However, we’re having to become adapt at texting, emailing, whatever video blasting, voice, you know, voice messages, whatever it might be, but there’s four parts essentially to following up with the lead.

Number one is actually calling the leads. Actually calling the leads back. Okay. Not texting right away, calling the leads back, trying to get them on the phone. So how are we doing that? So there’s basically two types of leads, right. And there’s two different ways to follow up. The first type of lead is, branded or organic, right?

So they reach out to you. Or your team or whatever it might be, they reach out to you that’s branded or organic. Number two is an online lead, right? Like maybe from direct response, maybe a sync lead, right. Or something like that. Another lead you’ve generated online. Right. That’s, that’s an online lead. So there’s two different types of leads branded in and organic where they reach you and the ones that you are calling out to.

Okay. It’s hard to believe that a transaction would happen without an actual phone call or conversation between humans. Right? So you have to think about that, right? Like how, what are you doing to get these leads on the phone? So, we talk about that, first of all, let’s, let’s talk about those that might not be, or no, first of all, those that are expecting your call.

So a branded or organically they’ve reached out to you and they’re expecting a call back. Now you want to call them back immediately, ASAP. you know, speed to lead, right? Remember that phrase speed to lead. You wanna make sure, you call them right away if they’re expecting your call. So if you’re getting agent Pronto leads, some of you get agent Pronto leads, you know, you should be speed, dialing them, right.

Slow motion before you hit the ground and call is dialed, right? Like you need to call them back immediately and keep in mind if you’re getting some of these third party referrals. sometimes the leads ask for more than one agent to call.  right. These are not an endless source of leads, right? They’re from a third party referral source.

Right. If we don’t close them, if we’re not following up with them, if we’re not updating notes, we will not get them. Right. So you want to call them immediately, especially if you don’t know if they’ve requested another agent, not only that, if they’re online looking for an agent right now, and they’ve reached out to you, they’ve reached out to a few other agents, most likely, most like.

Right. So get ’em on the phone. Nathan, remember back in the day, with the AP leads, they would send them out to three agents, I think at the same time. Right. They would send them out to. Yeah. And what, what did the skilled AP agents do? We’d call immediately and keep the lead on the phone the whole time.

So as the other agents tried to call in, they’d be sent to voicemail. That’s what we did. Well, I was, that was my move. I would just keep em on. Wait, wait, wait, wait another thing. And I would just keep em on the. The other people would give up and make a voicemail. That’s what I would do. Right. So speed to lead.

Remember to call back immediately, not like later in the day, you know, not when you’re driving in the car, like immediately, right. It doesn’t take much. It’s just a, you just need to touch base with them immediately. Okay. Now strategic response, this is a, you know, a sync lead, perhaps, you know, more of a cold call, right?

what are the steps there? Well, you wanna make sure you block out time and this is super important block out time to do. Follow up, right? Some of you do have your own lead gen sites and you’re generating your own leads, block out time for it. Right? Let nothing distract you, book it in your calendar, put it right in as an appointment.

I always liken it to, you know, one of the ways I, I got in shape over the last, well, not great shape, not a Donis or anything, but over the last few years I went to, orange theory. Right. And I had to actually book in the time. Right. You have to book in, the week before. And if I didn’t show up for the appointment, I was charged.

Okay. I always charge money for that. So the point is, you know, book it off as an actual appointment and then avoid distractions. We talked about this before, you know, sometimes if you got YouTube open stuff like that, you’re looking at the funny cat videos and you’re not making the calls. Right. And when calling’s uncomfortable for you, you’re looking for distractions.

So make sure, that nothing does that. You know, nothing distracts you. Okay. Here’s where it gets. Interesting. Here’s a few hacks that I want everybody to pay attention to. you wanna call right away. And if they don’t answer, don’t leave a message. You call back right away again. Okay. Some refer to this as double tapping, right?

The double tapping call. They don’t answer call back right away again. Okay. What happens when you see the same number call twice? Like back to back, you understand it’s probably more than just a casual phone call. They need to get hold of you. Your people are more likely to pick up the, the call. if they see the same number calling back to back, does that make sense?

So the double tap super, super important. now if the lead does not answer the phone, then you text. Okay. So double tap then text. Okay. What are you texting when you’re following up with the lead that doesn’t answer the phone. What are you texting? Right. Most agents get this wrong. Most agents get this wrong.

most agents will go, Hey, this is, Shane Goodyear. I’m a real estate agent. I understand you’re buying a house, blah, blah, blah, blah, blah, blah, blah, blah. I’m not saying you Shane. I just, you’re the first name I saw on my screen, but, they go on a whole paragraph, you know, of information that the sellers, or whoever the lead, understands who you are.

They’re less likely to call you back. You want to text just a lit one sentence. Okay. One sentence. So if it was Nathan, I’d say, Nathan, are you there? That’s it. Or is this Nathan? Is that Nathan? That’s it. That’s all I’m texting one sentence, right? If you get a text that says, Hey, is this, Spencer?

You’re like, who is this right now? You’ve got them now you’re engaging with them over text. Right. if Nathan responds with a text like this, yes. Who is this? Which is what you probably get. Yahoo’s this, you respond with it’s David, I’m calling you now that. That’s the second text. It’s David, I’m calling you now.

Now they’re gonna answer most likely your conversion rate may go up on the phone right now. If they don’t answer after you say that, right. Nathan will say, I can’t talk right now. What’s this about right. If they don’t answer, then, what’s a good time to call you. It’s about. The homes you inquired on the info you wanted, but not a lot of details.

That’s when you text what the purpose of the call is. Does that make sense? Double tap text. Is this Nathan right? Yes. Who’s this it’s David. I’m calling you now. They don’t answer. Then you follow up with a little bit more details now. That’s one approach. Another approach is to call it another point in the day, et cetera.

I do like the double tap in the text. the conversion rates on those leads go way up if you’re actually incorporating that. Right. So think about that. It’s a little bit of a, a work hack. And then of course you have the GP G follow back, or call back script. Sorry, call follow back, call back script.

Right? So that’s, that’s a little phone hack. Number two, this is the second part of lead follow up, which is we call it following up by land air or C, right. Which is a text, email, voice, or video blast. Okay. we, I mean, I don’t know. I know agents that are, Using bomb bomb or loom, or, you know, they’re shooting a video on their phone and they’re texting that to a prospect or lead.

I think that’s really powerful. And I think that really works, but, you know, as we said, nothing replaces the phone, right? So this is simply in addition to, right. So if you have unreached, leads, that are getting your tax, you know, there’s a, I think it’s a 98% read off rate. So, so if you text someone 98% of, you know, those you text actually read.

Not that they follow up or not, but, text to video. Email’s good. what should you be sending? I’m not sure I have your address. So I recorded a video for you. You can watch it here, or here’s another one been trying to reach you in response to your request. Here’s a video with additional info info.

I think it was Curtis that was using loom. Has it, how many have heard of. Yeah. Loom is really interesting because you can record yourself doing a video and then doing like a, you know, five minute cloud CMA or something like that with comparables, and then sending that off. That’s really powerful. Right.

That’s really, really powerful. Yeah. Loom is amazing. It’s true. Steven, and then point number three is fulfillment. Now, if somebody asks for something or they’re expecting something from you, make sure you send it. Make sure you send it to them. Right? Hot list of homes in certain area or off market properties.

Right? Last meeting, we talked about where to find off market properties, make it, make sure you follow up with that, right? Make sure you follow up with that. Now fulfillment. When we talk about fulfillment, if you’re taking notes, you want the fulfillment or the follow up to be magnetic, magnetic fulfillment.

We call it magnetic what’s magnetic fulfillment. Well, it includes these effort value. Unique selling propositions. Okay. So they, you want, you want your clients, your leads, your prospects, to understand the effort you’ve put in to following up with them. Number two, the value. There’s gotta be some value in what you’re sending them.

And number three, unique selling propositions, right? It’s an offer. So you control the content. You make an offer. It’s magnetic. It generates, it generates them picking up the phone and calling you back because of it. Okay. Just simply putting someone on a search. Uh doesn’t. There’s there’s five or 10 other agents that have put that lead on a search.

So you wanna stand out as different. Okay. So again, magnetic fulfillment is effort, value and unique selling propositions control the content, make an offer. And then, the fourth component to this is remarketing. You know, following up with leads in your database, they should be your audience, right? So they should be on some form of.

You know, USPS, Goodwill, testimonials touches, email blast, video blast, whatever that might be. It takes work an effort, right. But that’s where the gold is. It’s in the database there. So, just remember that. And of course, we’re gonna be talking about doing follow up calls and booking for zoom consultations on subsequent masterminds.

But I do want everybody to avoid this crucial mistake, cuz I think this is super important. People pay attention to this is that it’s not the leads job to call you back. It’s not. Okay. It’s not the leads job to call you back. It’s your job to make sure you connect with them, right. And simply putting somebody on a drip and, and expecting them to call you back doesn’t work, right?

Send them properties and follow up. And I’m gonna put this into perspective. I say this once every six months, I’ve said this for years, this is the MIT study. And y’all know this. If you’ve been on these meetings, here’s some numbers for you. 2% of. Are made on the first contact. 3% of sales are made on the second contact.

5% of sales are made on the third contact. Only 10% of sales are made on the fourth contact, but here’s where it gets. impressive. 80% of sales are made on the fifth to 12th contact. 80% of sales or conversions are made on the fifth to 12th. Right. It’s pretty sobering, right? But here’s, what’s even more interesting.

48% of salespeople never follow up with a prospect. That means they make a, a phone call, leave a voicemail and expect them to call back. So they never follow up. 48% of salespeople never follow up with a prospect 25% of salespeople make a second contact and stop 12% of salespeople make three contacts and stop.

And then notice this only 10% of salespeople make more than three contacts with the. You should not be in sales. If 80% of sales are made on the fifth to 12th contact, but only 10% of salespeople make more than three contacts with a prospect. Well, then there’s a big gap there, right? So you want to fill that gap.

It’s really, really important. You pay attention to those numbers. Sobering right. When you think about it, 80% of sales are made on the fifth to 12 contact, but only 10% of sales people make more than three contacts with prospects. So, food for thought. I want everybody to think about that going forward, how you’re actually following up with the lead it’s critical.

Following up by land R and C being adaptive at texting, voicemails, video, right. Videos gonna be a lot more important. Of course. how are our phone skills with following up leads? I think that’s really, really critical. Okay. Okay. We do wanna cover this. That was following leads. I thought that was fire content.

I thought that was I, I hate to interrupt, but can you just tell me that last. No, I can’t, dude. You missed it. You missed it. Okay.  for apathy for welcome here, everyone. Welcome here. Apathy.  I love you. I love as you late, actually late. Exactly. Welcome here. so we’re gonna move to this next section, which is, we were talking about fisbos, and there’s a reason why this came up.

I’m gonna play this for you. How many saw this? The hidden camera stuff from the, did you guys see. Okay, we’re gonna play this. And this is really, this is a key discussion. So want everybody pay attention to this video? Hopefully there’s no. Joanne petite is selling her house, but doesn’t wanna pay the 5% commission real estate agents expect.

That’s about 75 grand. That’s a lot of money. It is a lot of money. So she’s selling privately, but will agents representing buyers still come when the payday is smaller? Joanne is still offering buyer agents 1% of the sale about $14,000. She’s been worn by other agents. They won’t come. Were you left with the impression that your house was almost blacklisted?

Absolutely. That’s how it was referred to me. Hello. So we’re posing as undercover buyers asking agents to show us Joanne’s house. I’ve been trying to reach them to see like what’s the problem. The first agent tells us she can’t reach Joan. I haven’t heard back from him. Joanne says, that’s not true. We never received a call.

She told us she called I, she called and left a message. No, no message was left. That’s disgusting. Is that steering? Yes, of course. That is real estate lawyer. Lisa Laredo says steering away from a low commission. Is illegal. It’s an absolute contravention of the code of ethics onto another agent. The home is 200,000 overpriced.

Do you wanna go and see it? The price is consistent with similar houses in the area. Besides that agent tells Joanne a different story. When we told her there would only be a. Percent commission. She said, I’ll keep my clients to myself. When marketplace reached out to the agents who steered both denied doing so, but it doesn’t appear to be isolated.

Some agents may be very cognizant of what they’re getting paid and pushed thereby or to another home. We called agents across Canada. Many told us steering happens all the. It’s not right, and it’s not ever supposed to happen, but it does happen Rico, the real estate regulator in Ontario calls all this troubling.

They wouldn’t talk to us on camera, but did send a bulletin to agents, warning them, steering is illegal and that it must stop.

I interesting, right? Shocking, shocking. That agents would steer their clients away from low commission, properties or for sale by owners. Right. Shocking. This is really important to understand though, guys, this is really important to understand. And the reason why is you heard the cons, you know, the, the client, the seller, you heard the seller there talking about the commission rate.

Okay. What’s happened is people are, What what’s happening is people are more informed than ever before. So, and we’ve heard sellers say this, the line item, the commissions, right. Agents have to articulate what makes them valuable in order to charge those commission rates and consumers are figuring out how to sell their properties on their own, right?

Especially in hot markets. Now why this is especially relevant. You better get used to this more. There’ll be more and more discounted commission rates on the MLS. This is a. Okay. Especially what, like we said, while the market’s hot, in fact, we’ve heard of some brokerages we’ve heard of some brokerage.

Well, yeah, we’ve heard of some brokerages, unnamed. what they do is they, they, they, they charge the full commission and then they put the coal broker on the MLS as $1. Okay. So now it’s up to the buying agent to go negotiate their. Okay. The downward trend on commissions over the last five years is pretty staggering.

We’ve talked about this before. So how are you negotiating your money with a, for sale by owner or discounted, commission, listing. How are you doing that? Can you do that right? Are you steering your clients away? As they said there it’s illegal. You shouldn’t be doing. You should be able to go and get your money.

We show our clients every house that’s on the market. Nathan, I think is a master at this. He was really good at negotiating his commission rate when it came to sellers. Right? So, Nathan, I think you were like me, if you, if your client wanted to see it for sale by owner or a discounted, you know, commission listing, we got excited.

We got excited. Hundred percent. Why did we get excited? Why did we get so excited up? Cause it’s payday. It’s time to get paid. Exactly. That’s why  so, so like a lot of people, a lot of people might watch that article and think like we should have a discussion on, on like how not to get caught in a sting operation on camera.

But that’s not that that’s just the fruit of the problem, right? Not the root, like the root, the real issue is the fear of not getting paid. That’s a fear that agents have. Right. And, and so, like, that’s what we kind of wanna address a little bit because it is the industry’s dirty little secret, you know, agents they’ll go through, through comps on the MLS and, and they’re more partial to the ones with the higher commiss.

Like it’s human nature, but again, it’s, it’s not right. It’s not how it should be. for one, it limits the inventory that you’re sharing with your buyers, and G buyers, they shouldn’t have that problem. So here, like we’re, we’re gonna talk a little bit about how to expose your buyer to all properties, even for sale by owners.

But, still get paid. And of course, that all comes back to, as we’ll all I’ll remember from previous masterminds, the buyer agreement that buyer agency agreement is how, you know, what you’re going to get paid. Like it’s astonishing that so many realtors will drive around for months and have no clue what they’re gonna get paid at the end.

And that’s, that’s kind of what David was alluding to at the beginning. You know, you have so much more confidence. If you know what you’re gonna get paid. when you’re working with a client, it just takes all of that concern over, you know, oh shoot, it’s a rhino Realty listing, or it’s a 2% listing or a com you know, when you’re walking up to the house, like you’re not even looking at the sign.

It’s kind of irrelevant. Right? So if you remember back to the magic sentence that we use, when we’re signing a buyer’s agreement, who remembers that? Do you remember that? The magic sentence? So it’s not, this is your commitment to working with me, Mr. Byer. That’s not the magic sentence.  the word commitment is repelling.

So the magic sentence is if you’re taking notes, write this one down Mr. Byer. This allows me to get paid by the seller instead of you having to write me a check, is that okay with you guys? That’s the magic sentence. This document allows me to get paid by the seller instead of by you. Are you okay with that?

And of course, they’re gonna sign that thing from that moment forward, everybody, you know how much you’re gonna get. So if you’ve written in there, you know, three and a half percent or three and a half, one and a half or whatever, you know, you’re good to go now we have to be realistic, right? When we’re out there and we’re showing a house can a buyer who just saved up $30,000 for their first house also afford to pay you $8,000 out of their pocket for their commissions.

Like, can they, can they afford the down payment? And write you a check for $8,000, of course not. So if they have to pay you cash, then they can’t get a house anymore. It’s super simple. And so when we have that in our, in the back of our minds, it kind of creates this clarity for the dialogue, right? Like they can’t buy a house and pay the commissions.

That’s what that agreement is for. So when we’re talking to an agent or this, you know, this lady in the, in the video, We just front, when we’re first talking to the agent, this is what I would do all the time. I would call up the agent and I’d say, Hey, listen,  this, this buyer owes me $8,000. Right. We have a buyer’s agreement.

They owe me $8,000. and they would like the commission included in the paperwork. So if we write an offer, is that okay if we include the commission in the paperwork and the agent’s gonna say no, It’s gonna say no way, man. We’re offering $500 flat and then I’ll explain to him, listen, if you’re willing to accept $400,000 for this property, I assume your seller would also accept $408,000.

But I include the commission in the paperwork. Am I right? Now that’s a, that’s kind of the key focus of this, this dialogue. If the seller will accept $400,000 for the house, I assume they would also accept 408,000  and have the commission included in the paperwork. So the buyer doesn’t have to pay out of pocket and the agent will think about that for a second.

And then I’ll say, . Yeah. Yeah. That makes sense. That makes sense. Okay. Let’s, let’s go for it. Send over your offer. Let’s do it. Right. And then throughout the negotiations, you just keep doing that if they allude to it. Right. So if you come back, let’s say you settle, the agent comes back and he’ll say, well, we’ll take three 90.

but that’s without your commission, say, stop doing that. Mr. Realtor  I told you it has to be included in the paperwork for the buyer. It’s the buyer’ss instruc. Which they gave us in the BA agreement. Right. So if they’ll take three 90, will the seller accept 3 98, but have the commission included in the paperwork and you just keep doing that until you come.

To a negotiation conclusion and you get them their housed. and we’ve done this tons of times. So, you know, for, for the sake of time, we won’t role play it out. But if you ever run into this situation, call me or call David and we’ll walk you through it. It’s, it’s really good. Now this seller in the video, talk about her for a second.

I’ve been in that situation before and, and frankly, it’s the dream come. I remember one for sale by owner in Tuscany. we bought her house while was a couple, so we bought their house and, they were, they weren’t represented for sale by owner. I had the buyer, of course, I’m one of the only realtors showing their property because I know I’m gonna get paid.

And, and we’re sitting there at the table and they’re like, we don’t really know what to do. You know, they’re asking me now to kind of like give them advice. So, you know, I said, listen, why don’t we we’ll do a one day listing  so you can have the benefit of my brokerage’s trust account and the lawyers and everything.

All the conveyance will be taken care of, blah, blah, blah, blah, blah. And, we, I ended up double ending it for full pop. So it was a, it was a for sale by owner that wanted to pay almost nothing, ended up paying full realtor price and we double blended it, you know, as in customer status with my seller and with the buyer.

It’s fantastic. So, look forward to this stuff, everybody, like David said, it’s, the commissions are not going up.  so for the rest of history, you’re gonna have to be, really comfortable with this dialogue, but it all comes back to knowing what you’re gonna get. And if, if your buyers, if you’ve communicated with them properly and everybody knows what you’re gonna get paid, then it’s just transferring that to the actual transaction, which we’re really good at here at the G G and that dirty little secret, you know, people pretend like there’s no inventory, but buyers at the G G buyers who use GP, G agents, they have the most inventory of any buyers in the industry.

And it’s because of what we’re talking about right now. That’s a fact, that’s a fact. So just land the plan on that, you know, you’re gonna have to become a adapt at sales skills, right. And negotiating your money. That’s a fact you’re gonna have to figure this out. Right? So like Nathan said, if you run into this, you know, give us a shout and we’ll kind of walk you through a, a little bit more dialogue that you, you know, you can, you can do in person.

And of course, you know, the other part of it is, is that, are we adapting our present? and how we’re selling to the personality type too, both the buyer and the seller. Right. So this is super important to understand, there’s a few little ins and outs there that, that don’t get you in, in trouble there.

But, yeah, like we said, if you, if you run into this, make sure you reach out to us.