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iRep Summer of Success: Increasing Repeat & Referral Business By Reconnecting With Your Database

By Elizabeth Stormberg in Interviews on Sep 4, 2020

Frank guests on iReal Estate Pros' Summer of Success series to talk about what we're seeing in the market amid COVID, and how agents can reconnect with their database to secure listings.

Check out iReal Estate Pro to get certified and learn how to thrive in a iBuyer Market Shift.

[Full Transcript]

Eugene Quackenbush:

Hey everyone. This is Eugene Quackenbush, National Sales Director from iReal Estate Pro. Thanks for joining us for the next installment of our Summer of Success Series. Today we're excited to have one of our good friends on the show, Frank, from Vyral Marketing. How you doing today, Frank?

Frank:

Doing good. Thanks for having me.

Eugene Quackenbush:

Thank you very much. Hey, so we've had a really great series so far. I'm excited to have you on today and just kind of talk about some, give our real estate pros and maybe some agents out there listening just a few tricks on how to navigate this market right now. We're obviously seeing some low inventory and some challenges out there. So I know that we've been talking about some great strategies, and so I'm just hoping that you could share some and we'll leave some time for Q and A, live Q and at the end, but take it away.

Frank:

Sure. Well, there's a couple of things we could talk about. I think the first thing is at Vyral Marketing, what we're all about and I started the firm 10 years ago, and we help interview you on a web cam to create videos to stay in touch with your list. And you would engage our firm if you wanted a really good solid, 36 touch, longterm nurture strategy. And we've been doing this for 10 years. And the videos that really resonate now are how to sell your home safely, given COVID. How to sell your home for full market value without people walking through it. And also are the instant offers legit? I'm actually considering taking maybe a instant offer on the property, or is there some way I can sell my home to reduce the need for open houses, at least the preconceived notions people have of what you have to go through selling the home.

Frank:

So I would probably say one of the very first things you do to spike some business out to your database if you Google Vyral Marketing guaranteed offer, there is an email that I would recommend you send out to your whole database, your past clients, your sphere, your warm leads, basically every email you can get your hands on in your CRM, in your cell phone, in your Gmail address book, in your Outlook file, rounding all of those individuals up, duplicating them. You could scrub the email addresses too, to make sure you only have good ones using a service like Neverbounce.com.

Frank:

But getting an email out to them that goes something like this. Hey, if you're thinking of selling your home this summer, not many people were even thinking about it given COVID, but we seems to be more sellers now or more of homeowners are putting their homes on the market and because the prices are just going up and they're seeing what they could probably get for your home, right, with interest rates being so low. However, there still are some concerns about safety. Regardless there are new ways to sell your home now than just a traditional sale. There are local and national buyers that can submit offers.

Frank:

And I want to let you know that I can present all offers to you. I actually have a two step system where I'll come out to your home, I'll take pictures and I'll measure and really get a good idea of your property and then I'll take that information and I'll send to all these buyers that already exist. And then on the second appointment will come in and I'll explain all the offers to you as well as what you could get if you want to go through a traditional type of the sale, which will typically be maybe your highest priced offer, but we'll look at all the costs and factor in what your net is because that's what's most important. So if you are in fact thinking of selling your home and you'd like an offer on it, click here and let me know.

Frank:

So that email like that goes out to your entire database. And there's an example, if you Google that, up on our website, and you'll just drive a bunch of registrations back on your website to a landing page that people will offer on the property. And it's a really fast way to find some sellers or people that are interested in selling in your database without spending much. And I recommend you start there with a little reconnect message out to your list, letting people know that they can follow the iRep system to, you follow the iRep system to get them multiple offers.

Frank:

But I guess the other thing you were interested in having me talk about is how to zero cost some of your marketing. How to get the price down. Is that correct?

Eugene Quackenbush:

Yeah, absolutely. We've got a lot of agents that are, again, they're independent contractors and some of them were hit pretty hard by this. And so they're figuring out what expenses can I cut? Where should I be investing my money? And so obviously if they're able to turn $0 into business, that would be a great start for them. So yeah, I would love to hear anything you have in there.

Frank:

Well, pretty much anyone that starts in real estate, you're on the phone all the time. So you don't have any money. You don't have any capital, you don't have any resources. You are cold calling a hundred percent. That is the name of the game. And that's why the turnover rates so high is because cold calling is not fun. If you're lucky over time, you start building a database or if you're lucky you have some existing relationships you can work. So you're kind of like cold warm calling, but you're still reaching out to people and interrupting them with the conversation about somehow real estate. And look, you've got to max that out. You got to be calling all the time until there's just no more hours left in the day. That's first.

Eugene Quackenbush:

Right, step one.

Frank:

And that will make you a successful real estate agent. But at some point you go, this is exhausting or I cannot make any more calls. There's just not enough time in the day. And at that point, that's where you to buy some scale and buy some leverage. And that's where you invest in marketing. Makes things more efficient. Probably the most cost effective marketing you can do is to work and to nurture all those people you spoke with in the first place. So all the leads that you spoke with, all of your past clients, maybe that you've worked with, your centers of influence and reconnecting with those individuals by sending them letters, educational videos, posting on Facebook, doing those types of activities, to put a nurture plan in place with your existing list. Got it. The reality is that takes time and it takes a little bit of money. It usually requires, maybe you have to hire a video editor or a writer or a marketing person to help get that content out.

Frank:

What we recommend at Vyral is the very first marketing that you should do is build a video blog actually. Like for example, maybe a Phoenix real estate newsletter video blog, or the Phoenix real estate journal, you can actually go check out as it comes to mind, Silicon Valley real estate journal.com. This is a client of ours up in San Jose, Silicon Valley area, that is trying to get in front of very affluent Silicon Valley homeowners. So he started this video blog of all these testimonials and on there, and a why hire me video. It's kind of your seller website. It has educational videos on there about tips on buying and selling and market updates, what have you. But get a website set up where you start putting content that has an evergreen effect where it's always on there. And then start sending it out.

Frank:

But the editing and the writing and the website, that all requires skill and you have to pay for it. Now you're going to pay for it in your time not calling doing that or you're going to pay for it by hiring a company like Vyral Marketing or any other marketers are out there that could probably do this for you as well. But you don't have any money or you don't want to risk the capital, maybe committing to some kind of a contract or an employee where you have this fixed monthly expense for business on extremely variable commission income and it stresses you out. So what do you do? It's kind of this catch 22. How do you get the money? How do you take the risk? The fixed cost of risk for marketing or whatever it may be, on such variable revenue? And there in lies the challenge.

Frank:

You really have two options. One is you just grind it out more man, you're working from 5:00 AM to midnight, just doing everything you possibly can to make sure the work is there and get those fixed costs covered. That's really what most people do.

Frank:

Or number two, you can go partner with other local businesses that are trying to reach the same audience as you and see if they can pitch in. So open your mind here and follow me on this. You're a real estate professional. You're essentially out talking to people looking to buy a home and you're talking to people looking to sell a home, as well as you're talking to homeowners in the market. You are not the only business that would love to get in front of people newly moving to the area or people who are selling their home or homeowners in the market.

Frank:

If you go on Google and type in pre mover lists or new resident lists, these are very expensive marketing lists that business pay a lot of money to, dentists, restaurants, landscaping services, the list goes on. I'll give you some that want access to people that just moved to the area or are leaving the area, or even just own a home. These are expensive marketing lists and businesses already spend money trying to reach these homeowners. So just to give you an idea that there's a market for that to reach those individuals, go to Google and type in pre mover lists or new resident lists. You'll see all these data companies selling you a subscription of these data feeds.

Frank:

In addition to that, go pick up a real copy of the newspaper, go to the 7-11, go get a copy of the paper, go through it. Those ads aren't cheap. There are still businesses spending money to reach homeowners. Usually they have a very general interest product. Those are potential prospects.

Frank:

So here's the deal. You would come up with a list of ideally business owners that you know, but you don't necessarily even have to know, that my criteria is they're doing about at least a million dollars a year in sales, less than 4% of all businesses ever break a million dollars according to SBA. And they're already spending money to acquire customers or spending money to reach homeowners. They're already spending money to reach homeowners and advertising, and they're doing a million dollars a year of excess of revenue. Just some things look at, that's probably a good prospect for you to maybe talk to about co-advertising with you in your videos, which we'll talk about here in a second, but just hear me out of these businesses. Let me actually give you a list of some potential businesses you may want to approach that will give you money. I'll pull it up here on my screen share. Sound good?

Eugene Quackenbush:

Sounds great. We love free money.

Frank:

Yep. So here are just some businesses. Now, again, I want you to imagine these are businesses doing a million a year and are currently spending money to reach people moving to the area or homeowners that you could talk to. So you can start with these businesses here. You can see who's advertising on Yelp. Who's advertising on Google. Ideally I love the newspaper, people spending money in the newspaper, those are significant checks. They're trying to get in homeowners mailboxes. Those are really good prospects. But essentially you would call up these business owners. And it's pretty easy to find the name of that business owner. Just go to your Secretary of State's website, type in the name of the business, and you'll find the articles of organization for the company, go into those and you'll see the name of the owner.

Frank:

And then if you go to a company like Ivy Data, go type in the name of the owner with the address, skip trace the phone number, boom, you got owner name, you got phone number. You're going to call up the CEO or the owner of the company and skip all kind of the intermediaries. I mean, you can also just call the business itself and ask them who the owner is, but I want to be cool and give you a little tip. All right.

Eugene Quackenbush:

The first name basis is way better.

Frank:

Yeah. So what I'm getting at is you reach out to them and here's kind of the script. Let me see if I can actually, I think I actually wrote this down. Hey, I work for Bob's, this is maybe an assistant calling and doing this for you. Hey, I work with Bob Smith at ABC Realty. We sell X number of homes a year. Many of these homeowners and new movers to our city need your product or service. Would you like to set up a streamlined way for us to send you these customers consistently so they buy from you and hire you? Can I schedule a call to talk about it?

Eugene Quackenbush:

I love that. Very direct. Simple.

Frank:

That's it. Super direct. And believe it or not, especially if you're a little more of a successful realtor, I mean, at least you're selling some houses, you're going to get an appointment. I mean, of course the big teams will, but even if you're brand new and you're not selling anything, you just change the script. Hey, I'm going to sell this many houses. I'm going to do this much business. Would you like to get into business with me? And you'll get some appointments. You just have to remove a lot of limiting beliefs. A lot of these businesses would get new customers from events or people coming into the store or doing seminars. We can't do those anymore. And they're struggling to figure out what are my new customer acquisition strategies. They may not be as savvy as you are doing internet marketing to get it.

Frank:

So when they have a successful marketer, which is a real estate professional, that's what you're being paid to do to market a house, comes to them and say, "Hey, I'm already working with all these homeowners, all these people, I can strategically maybe direct some of these people to do business with you. In addition to that, I can interview in some of my videos for my blog, I can send a couple of emails to my database about you. Would you be willing to help pitch in and give me some money so I can go buy the marketing that's necessary to buy the lead that we both benefit from?" And that's how that works. So how's that?

Eugene Quackenbush:

No. Good. I love it. Yeah, we work with a few agents out here and there's a few kind of that they run these big Facebook groups. And their community Facebook group. So they're doing that same thing or going to these businesses and they're saying, hey, again, for those seasoned businesses, but then they're also kind of breaking new businesses into the marketplace that may have a little bit of marketing money up front to kind of throw at something like that. So I think it's great and people really want to know the communities they live in. And so if you're an expert about that, that's only going to make you just a much more attractive agent if you're able to sort of speak to the restaurants and the schools, the vet, what's the best vet in the neighborhood, anything like that. So I think those are some great nuggets.

Eugene Quackenbush:

And you talked about first on the first part of it, it was really a topical because we teach just to kind of give the message that's current. And so right now that's safety, right? And so there's still, we know people are selling homes. We know they still have to move, their lives are still going on, despite what's going on. But having that knowledge of, hey, we understand that you're a little concerned about this, but as your real estate professional, we are aware of that and we have solutions for you. I think that's great.

Eugene Quackenbush:

Anything else, any other kind of final nuggets you want to give to our crowds today? This is a short but a sweet one, but a lot of info.

Frank:

No. I just think if you're looking for business and you need leads and you don't have a lot of resources to get them, because obviously you can spend a bunch of money on direct mail, you can blow a lot of money on Facebook. You can hire an outbound prospecting calling team and you can do all of these things, but all requires capital and usually have to build your business to a point where the cash flows residually fund those activities. But for the majority of people just starting out where there's not much resources, how do you get the most bang for your buck? And it is always going to be in your existing list. All the contacts you have in your Outlook, Gmail, your cell phone, your CRM, rounding all those individuals up and starting some type of ongoing communication plan with them. That, between me and you, is not like some canned crap jerk content.

Frank:

It's actually real expertise that you're getting on camera and sharing and answering commonly asked questions and sending out. That's what we do for you here at Vyral, but you have to pay us. We have to hire someone to do it because you probably don't want to learn to do all that and do all those skills because even if you did know how to do it, you had the opportunity cost of your time. So now you have to have money. Well, don't have any money. Well, how do I get the money? Which is the right question to ask. Not, I can't have the money, how do I get it? And one of the ways is going to other local businesses, like we talked about, and seeing if they will help participate in your marketing.

Frank:

Let me give you an example. I asked the client, would an extra thousand dollars, what would an extra thousand dollars a month of partner money mean to you? And it was like game changing. A grand a month coming in from partners would allow him to buy this and do this and help grow his business. And it was just like the scratch that he needed to get going on. So I said, "Okay, where did you buy your last car?" Bought at a Ford dealership. Great. Go to the Ford dealership, ask the Ford dealership to give you $500 a month. And in return, you're going to include a gift certificate, maybe an additional discount on a car if you go buy a Ford dealership to every single one of your new movers to the area. Goes to the car dealership. He bought a car there, he is a realtor. GM said "Fine." 500 bucks a month. Because when people move to an area, they likely buy a new car and the agent drives a Ford and maybe he gets under the Ford dealerships.

Frank:

So the Ford dealer and the 500 bucks to a Ford dealership and the guy pull out of their pocket. Right? Yeah. So boom done. Then I said, "Okay, this is kind of an affluent area you're selling into. I bet you landscapers make a killing here." It's like, yeah, they probably do. And those are subscription based fees. You're paying a landscaping fee every single month. One of the most expensive keywords on Google is insurance. It costs the most money to get a click on insurance because they discount the present value of all those insurance payments. So they're willing to spend a lot of money to acquire the customer because they make it up over time for lifetime value. Same thing with the landscape company. They're coming out every month fixing landscaping. If a landscaping company can land a new mover to the area and get that landscaping business before anyone else, that's significant value.

Frank:

They approached a landscaping company that does work in the area, says, "I'm one of the agents in the area. I help people buy and sell and move here. Would you be in 500 bucks a month if I could provide a gift certificate at closing to my customers and on their website to go use you?" They said, "Yes." Boom thousand bucks a month. And now they include the landscaper in some of their videos talking about improving the value of their home and they co-market together.

Frank:

So for someone that needs an extra grand a month, just opening your mind to possibly doing those two things is possible. You just have to get over the mental hurdle that woe is me, no one's going to do it. No one wants to pay me. We've got to do some Tony Robbins in your life. Once you get over that limiting belief, it is possible because these businesses are looking for customers, you have them, you can essentially be the data broker to get them in front of those individuals.

Eugene Quackenbush:

Yeah. I love that. Once you get over your fear of cold calling, you're able to approach these businesses. You're going to learn that skill, but I also think you're rounding out your sort of your package as an agent, right? So now you are able to offer all of these services. You have all this knowledge that you can give to those homeowners when they buy or sell from you. So I love that. You're able to grow your business and also really provide some great services. So I think that's some great tips.

Eugene Quackenbush:

Frank, how do we get ahold of you if we have more questions from Vyral?

Frank:

Yeah, go check out VyralMarketing.com. We offer a 90 day money back guarantee that you'll get business or your money back. So that's pretty unique in the industry. And we're going to get you on camera. We're going to round up your database and we're going to start a longterm nurture campaign with legitimate, real content from you out of your head on the camera, out to your entire list. And we also have some ways to spike it for response. And we guarantee you'll get some business from it 90 days or give you all your money back. And we've had people get no business from their database. I gave them all their money back. It will happen. At least you'll know.

Eugene Quackenbush:

You know it's time to get a new database when that goes down.

Frank:

That's right.

Eugene Quackenbush:

Awesome. Well, hey Frank, thanks so much for the time and I encourage everyone to check you out. Those are some great tips you gave away, so I'm sure regardless of the price of admission was paid people are going to leave here with some ability to go make some business and hopefully make some new business partners as well. So thank you again for your time. And if anyone has questions from the chat, or you can reach out to me at Eugene@irealestatepro.com. Thanks again, Frank. We'll see you soon.

Frank:

See you.

Eugene Quackenbush:

Bye.

Topics: Interviews

Elizabeth Stormberg

Written by Elizabeth Stormberg

Elizabeth is the Chief Marketing Officer at Vyral Marketing.

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