I run a weekly Zoom Meritocracy Mastermind group at 8 am Pacific time and this question came up.
Should I cancel my Zillow Spend?
In other words, with low inventory throughout the country buyer leads are a dime a dozen and they are not the best return on investment. Right?
Real estate teams with buyer agents are up against a challenge right now. Many of their agents are struggling because they have buyers but, those buyers are not winning the multiple offer battles. This means the agent is constantly showing them homes. This gives that agent the feeling they are busy and can’t handle more leads and buyers.
As a team leader, you continue to buy leads because leads are sold on a monthly recurring revenue model. $2000, $10,000 a month.
You are making it worse!
Add more inventory to a bottleneck does not increase throughput!
You are giving 80% of your agents too many leads. They can’t handle the volume. You are the problem.
In this group, we made this decision. Cut the ad spend budget. Take that capital and hire an Inside Sales Associate or Two. They will call all the leads in the database, FSBO, circle prospect, and even door knock if they have to.
The agents will focus on follow-up, phone calls, and throughput for the next 90 days.
I asked my ISA director, “What could you do if I gave you a $100,000 budget to go find top talent to call our leads?”
His answer, “Are you serious, right now! We would crush it!”
If you want to join our next meritocracy mastermind group send me a message. These are 4 to 6 weeks long and we limit it to 6 seats.
We go deep on the number one lever in your business “DECISIONS”.
Nick McLean
PS. Some of you need to add buyer leads. Decisions are not one size fits all. That is why we meet and pressure test our business decisions.