In his latest coaching call, Greg Harrelson covered the seven biggest drivers of buyer conversion.
This is a topic that's especially relevant after the NAR settlement because now, agents will be looking to get the Buyer Agency Agreement contract signed right away, guaranteeing retention of the buyer.
And if you want live coaching from Greg, whether it's a question or a complete audit of your workflow, join his private community for Real Geeks users at RGMastery.com for less than $200/month. Cancel anytime.
This is a great way to increase conversions within your database.
Inside Real Geeks, Smart Lists are created through Advanced Search Filters. You can set these up, and through automation, the system can create these lists for you, with specific search criteria.
This list tells me which series of events you should put in motion for this particular segment of people.
For example, if you have an ASF that shows you every buyer captured within the last 90 days who has not viewed a property in the last 30 days.
This tells you that the buyers who used to search on your website and scroll through properties are not doing this anymore. They're unengaged; they might be looking at some other agent's website, and you're about to lose them.
"If we want to increase conversions, we need to decrease the number of people who lose engagement on our website," explains Greg.
This simple Smart list can catch our unengaged leads early, so they don't turn into missed opportunities for conversion.
When you open up your dashboard every morning, check on this list. Your goal should be to reduce that daily number to zero.
You can call them, send out a workflow, text them a link to a property, text them a link to a video, there are numerous things you can do. But building and checking out that list every day is the first step.
As soon as you get a new lead, call them and set an appointment. Right now, setting appointments fast is more important than ever because signing a Buyer Agreement is more important than ever.
It's not likely that you'll set an appointment through a text, much less through an autoresponder.
Your lead capture to lead appointment needs to be much higher for your conversions to also be higher.
And the way you set an appointment right away is you call them as soon as they land, saying:
"Hey John! I appreciate you coming to my site to check out this property. Just curious, it's actually available for a visit right now, would you like to check it out this afternoon, or some time tomorrow?"
If you do this, you're guaranteed to have your appointment ratio go up.
We know what you're thinking. How long are we going to keep hammering on Speed to Lead, right?
Well, according to Greg: "The reason coaches keep talking about Speed to Lead is that agents are not listening".
But now, the consequences of not acting on the Speed to Lead principle have grown exponentially after the NAR settlement.
"Now, if you're not the first to contact, you won't be the first to contract."
First to contact > First to get an appointment > First to get the Buyer Agreement Contract signed > Guaranteed Buyer.
So, if you've been practicing Speed to Lead already, fantastic. Because it means that you've already built the habit that from now on is going to be paramount for conversions.
If you get a new lead and they tell you that they're just looking right now and definitely not ready to buy, you need to create an activity for yourself, whether it's a task or a calendar notification to call them back in a week, two weeks, or a month.
Because what 99% of agents do is label that lead as a dead lead and just put them on a basic "engagement" workflow. Which, let's be honest, it's just a standard workflow of market updates that you put all the leads who aren't interested right away, in the hopes that they'll magically call you when they are ready to buy.
If someone says that they're not going to make any decisions in 3 or 4 months, don't let the gap be 3 or 4 months. Don't even cut it in half. Cut it into fourths. Narrow that gap.
If they say 4 months, call them in 1. If they say 2 months, call them in 2 weeks.
If you're on a call with someone and they tell you that they're not going to make any decisions for a little while, simply say:
"No worries, John. That makes total sense. Tell you what, why don't we schedule a call in a month, just to stay on top of this, and see if anything changes? That way, if there are any opportunities, I can present them to you, and you won't miss out."
Even if they're not scheduling that in, you should.
Never end a call without knowing when you're going to contact them next.
"I recently updated all of my workflows on Real Geeks and gave the templates to all of my coaching clients in RGMastery," says Greg.
Why? Because the game has changed.
For example, if one of your workflows has more than 5 touch points, it likely has little engagement.
Because short workflows are king right now. Two or three touches over a span of 2 days.
One text. One email. And another text to remind them of the email. Hyper-personalized. Relevant. And with plenty of varieties for every single segment of your database.
Gone are the days of workflows that span over the course of months, with outdated and generic information.
#7 The Simplest Trick of All
"Please forgive me if this sounds too elementary," Greg warns, "but I see so many agents go wrong here."
People who log into their dashboard every day convert more than people who don't.
The data proves it. Of all the agents that work for Greg (we're talking over 300), the ones who log in every day are also the ones with the best numbers.
So make it a new habit to log into your system every day and look into your Smart Lists. Make sure everyone is on a designated Smart List. And make sure every Smart List has a workflow or a list of tasks assigned to them.
None of these strategies require more time or more money. They simply require more focus and more productive work allocated to them.
Make these seven strategies a habit, and watch your conversions increase in this new arena of real estate.
And as always, when you're ready to dive in deeper, check out RGMastery.com and learn from Greg himself.