Hey everybody, what's going on?
KSA Kris here, the Real Estate Blitz, and today's gonna be kind of cool because I actually
took notes - because I had so many things on my mind, that I felt like if I didn't at
least make notes so I could talk about it, I'd be all over the place, so I wanted to
make sure I did that.
So, what I want to talk about today is about creating your ultimate farm.
Growing and creating it and farming it.
We have a lot of agents on our team, I had a meeting yesterday (and this is actually
what gave me the idea), I had a meeting yesterday with one of our agents, and there is a traditional
way to farm an area.
I started asking some questions, and she kind of turned her head and looked at me like that
dog that heard the weird music, like ... There's a traditional way to do farming, and then
there's my way.
I'm not saying it's better, it's just a way.
So, traditional means of farming; this is if you're going to farm a market in a traditional
means, you should answer some questions, and I think I did a video on this, I talked about
it in a different video recently ... But, this is my view: farming traditionally is,
you pick a market or you pick an area, usually anywhere from 200-500, let's say 700 homes,
maybe you have two or three different farms, and you're that person, the guy or the lady
who's walking around with ... You can't see my arm back here, but it's kind of like dragging
something, right?
You're walking around with this cart, this radio flier, dropping these weird packages
on people's front porch once a month, if you drop it on my porch I'm gonna call somebody
like the bomb squad, I think it's weird.
But, you know, it works.
You drop off stuff, you're knocking on doors, you're sending out direct mail, and you're
trying to connect and become recognizable in this small little niche market.
Now, I don't think that's a bad thing - in fact, I think that works extremely well if
it's done appropriately; however, so it's been two agents now this week that asked me
about my input, asked me to help them.
Both of them came to me with "Here's the direct mail piece I just got from the print house,
this is my envelope," I says "Good, before you do all this stuff, let me ask you a couple
questions.
In that market, where you want to be, what's the turnover rate?
How many homes are sold in that niche neighborhood every year?"
... "Uh, what do you mean, Kris?"
If you're farming these 500 homes, how many of those homes sell every year?
"Well, a lot."
Okay, good, what's a lot?
"Well, I see signs all the time."
Okay.
Stats, statistics, numbers folks, numbers.
If you're not running on truth, you're running on hope, that is what it is.
If you don't know your numbers, you're setting yourself up for failure, in my opinion.
Now, here's the thing: you could start marketing to these people and home you get a deal, because
you think there's a lot of properties that sell, but if you don't know ... So, A: how
many homes in that niche market sell every year?
That's the first one.
B: who is the number one, number two, and number three agent that sells those homes
every year?
Now, if you're in a zip code, it's really easy to do this, and it's funny because my
wife is actually doing a video and I'm gonna post it on the Blitz just to physically walk
you through this, because I talk about it and not everybody understands it, so she's
actually going to show you on the MLS what it looks like to target a neighborhood and
pull stats.
And when I say "Well, this person sells a lot there," no, how many do they sell?
Because that's gonna help you target-market.
Tom Ferry always talks about R&D, I don't like the way it's phrased (I mean, it is a
truth), but he says "Ripoff & Duplicate."
I view it as studying the winners, and realizing if I can or can't compete with them, or is
there a better way to compete with them in a space where they aren't at.
So, if I find that the number one person in this market has sold 50% of the total homes
that's the turnover in that market, so there's a 16% turnover in that little niche market
that I want to have, what are they doing to get the 50% market share?
Because I could tell you, every market that our team is in, I could tell you who's number
one, two, and three, I can tell you what market share they have, I could tell you what market
share we have.
We do it every other week, I always want to see the stats, because then I'm gonna go out
there and research those individuals and say "What are they doing to get that market return?
Can I do it better than them?
Can I find a different way or different space that they aren't in, that I could basically
squeeze into to get marketing, or am I going to have to try to outspend them?
How long have they been in that market, how do they own it?"
I'm trying to study that, because I'm going to have to compete against these people, if
there is a 1-2-3.
Now, if you find out nobody owns the market, yay, and it has a good turnover, because here's
the thing: turns out, you know, for every 100 homes in this little niche neighborhood
(and I have 500 homes), only two of them sell a year.
Okay, that's not a bad thing.
How much time and how much money are you spending?
You've got to understand, to me, time is money.
You should be running analytics on how much you're worth.
I know right now, when I'm focused on prospecting, which I don't have to do all that often anymore,
because I have people that reach out to me ... Which is different, I might talk about
that eventually.
Getting people to come to you to list their homes, I mostly only focus on listings, people
on our team focus on buyers, I do with buyers on occasion (but it's very rare), usually
anywhere from ... If I don't prospect, I still get anywhere from five to eight listing appointments
a month, and that's just from what I've created; online, what I've created with my sphere of
influence and following up with people, but when I'm prospecting, I'm worth about $1,500
an hour.
That's what I'm worth, per hour.
Should I be going and knocking on doors for $1,500?
Could I hire somebody else to do or drop off those packages for me?
I don't know, and that's something for you to figure out, but you've got to study that
market and figure out what actually works and what doesn't work.
So, that's traditional farming.
Now I'm gonna talk about what I do.
It's a little bit different, it maximizes time, it maximizes your energy, it maximizes
your ... amount of capital you have to invest in order to get a return.
So, I'm gonna walk down the list, because like I said, if I don't (as you can already
see, I'm six minutes into this video and I'm already all over the place) ... So, ultimate
way to grow and mature a farm; get all the broker listings sold and in escrow properties,
and create a list.
So, on our team - or you can go to your broker - on our team, we don't have an issue with
our agents farming all of our listings, our past sold, or our in escrow properties, and
the way that we phrase it is "You're not the listing agent, but you can absolutely say
'look what,'" ... So, let's say your brokerage, "Look what our Keller Williams team did for
your neighbor.
We just sold their home.
Guess what our Keller Williams team did for your neighbor, we just listed their house.
Guess what our Keller Williams team did for your neighbor, we just went into escrow and
we're excited, it's only been on the market for 30 days."
So, you leverage - unless you have your own listings, if you have your own listings, you
should be farming the hell out of your own listings.
But let's say you don't have any listings, all right?
That's how you start getting new listings: use success to perpetuate success.
The best part about a lot of our listings is that we have a sign that's sitting out
there, beautiful yard sign, super cool, everybody knows it's ours.
They drive by it every day, those neighbors, and if you haven't learned about the 10/10/20
program (I did a video, go back and look at it) but 10/10/20: ten to the left, ten to
the right, and twenty across the street.
At a minimum, you should be connecting with 40 homes around the home that's listed, in
escrow, or has been sold; whether it just sold, a year ago, two years ago, doesn't matter.
You're gonna create a database on all of those homes.
Write them out, so I have ... Here's the Capra home, here's the 40 homes around the Capra
home that we sold, and then I'm gonna create that list.
Get all of them and create a list, create a database.
So, where do you get the list?
Great question, now we get on to part two.
There's a couple different ways you could do it; I personally use REDX, there's amazing
products out there, Espresso Agent, Vulcan 7, sometimes you can leverage your title companies,
sometimes you can leverage ... I know some people use ReboGateway (I'm not a huge fan
of ReboGateway, but some people use that), but what you want to do is you want to get
a list of the addresses and phone numbers around that just sold, just listed, or in
escrow property.
I personally use REDX, and I go and use what's called "Geo Leads."
I'm gonna pull a Geo Lead of 40-50 properties around that house, and it will literally give
me the addresses and the phone numbers for all those homes around it.
I put that into the database; so Capra estate, here's the 40 or 50 homes, here's their addresses,
here's their phone numbers that I pulled from Geo Leads on REDX.
Next, I'm gonna put that address and phone number into my CRM.
So I have a separate database that I can track and put in there real pretty, so it can fit
into my CRM (I'm gonna upload it to my CRM), I personally use CINC, there's a ton of great
CRMs out there.
Somebody asked me for recommendations the other day - you've got to understand, different
CRMs link with different types of systems depending on what you're trying to do; whether
it's lead capture, websites, whatever ... I think Follow Up Boss is another great one,
it fills in to a lot of the call centers can use Follow Up Boss extremely well ...
So, you've just got to do a little research, but once you have a CRM, listen: if you're
sitting here and you're listening to this and you're like, "I don't have a CRM," you
need to get a CRM.
It's a requirement.
If your broker can't get you a CRM, you need to go out and find one.
If you don't have a ton of money, put a comment down here, I'll give you a list, I'll even
help you go out and research CRMs, I have a whole list of them.
But you've got to get a CRM, even if it's like, super broke, don't have any money, going
and using Excel.
I can give you a template, I have a template for Excel to create your own CRM.
You have to have a database, people - that is your future business.
A: it's your future for growing business or repeat business referrals, it's also if and
when you look to retire and you want to sell your business, you're selling your database,
that is your business.
That database is worth money, all day, every year, year in year out, you have to have it.
So, put it into your CRM, upload it so it's something that you can qualify and quantify.
In our CRM, I'm able to send text messages from my CRM, I'm able to send emails from
my CRM, I'm able to do phone calls from my CRM, so then I'm able to actually mark when
I communicated, how I communicated with them, and what the return was.
It's something that I can track now, it's measurable, and if you haven't heard me in
past videos, I always talk about "Analyze, analyze, analyze, make sure you're doing measurable
steps, measurable things," and the reason why is so you can see what you're worth and
you could see the returns you're gonna get.
Okay, next one: create a direct mail script for just listed, create a direct mail script
for in escrow, for sold, and a monthly market update.
Now, not just direct mail, but you want to do this script for text messages and you want
to create scripts for phone calls, outbound phone calls.
You need to create these scripts, they're all gonna be a little bit different, but you
have to understand "What am I trying to communicate to these people, and how am I trying to connect
with them?"
And realize you've got seconds of their attention; you should be sending them emails, text messages,
direct mail, and phone calls.
Now, why do I say direct mail first?
Wrap your head around this ... I hear it all the time: "I want to start a direct mail campaign,"
and then they're just grabbing areas randomly, living on hope, not doing any analytics, not
doing any studying.
Here's the thing: I just told you that you have a successful property, it's just sold,
it's in escrow, or it just got listed.
Imagine if you took every property that came into the brokerage or your team, or to you
specifically, and you took 40 people, 50 people, and you slowly grew that out, so year over
year ... This year I only sold five homes, next year I sold 10 homes, year after that
I sold 100 homes, year over year you're slowly growing that direct mail campaign, and they've
seen you every month.
They see your success every month, they get a market update from you every month, they
get information from you every month, a text message ... That's the right way to build
out a program.
Now, listen to what I just said.
Nowhere in there is door knocking - not saying door knocking doesn't work, I'm a fan, I am,
I'm a fan of door knocking.
I'm just telling you, if you're looking to farm something that's going to be effective
with less energy, but you're able to touch and communicate ... Because you've got to
understand, how do people learn?
I told you, the number one truth in real estate: people buy and sell real estate with the first
or second agent they are exposed to.
We are fighting obscurity, that's what we're fighting.
People don't know who the hell you are, you've got to act like a politician.
You've got to be in front, "Hi, I'm Kris, I'm with Kim Steel and Associates.
I sell real estate, I help people sell homes, I help people buy homes.
I'm excited, I'm here for you, I'm the expert, you talk to me."
If you're not trying to go out there and expose yourself in multiple means, like I was saying,
"How do people learn?"
Hear, see, touch, taste.
You want to touch as many sense as possible.
If all you're doing is dropping a flier at somebody's door, dropping off this box (and
I'm not a fan of the box thing, I will admit that, I think it's creepy and I think it's
very unclassy, but that's me personally.
I know it works for a lot of people, I'm not a fan), but you want to try to touch them
in every means; on their cell phone, they're getting a text message from you, they get
a monthly market update from you on their cell phone, text message.
They hear you because you call them, they see something physically, something that's
beautiful that just came in their mailbox, that actually targets specifically, let them
know you're a winner and that you sell homes.
And their email.
You're trying to touch them in multiple means, so you want to create scripts for that life
cycle.
So, just listed life cycle: "Guess what we did for your neighbor?"
Just went into escrow, just sold, and then your monthlies; monthly market updates, success
stories, the homes you have listed, the homes you have gotten sold, whatever that might
be, your success.
Sometimes I even send out, somebody brought it up yesterday, I send out a direct mail
piece, and it's just a giant business card.
It's literally my business card (I don't know if I have any right here, nope, got them somewhere
around here), it's just my business card, it's just blown up, and I just send that,
and on the back it says the exact services that I do.
So, you have this giant business card and you just put it wherever.
You're trying to touch them in multiple means.
So, next: after you've created some of this stuff, you need to create a digital media
piece, because you're gonna take all this stuff, all the content that you're creating
for these people, this is an opportunity also to put it on Facebook, it's an opportunity
to stick it on Instagram.
So you're basically repurposing to put it into other stuff, and also to put in your
other database that you have - all the same content that you're creating for this new
farm that you're trying to create, you're going to farm people on Facebook, you're going
to farm people that are already presently in your database; from your lead capture systems,
from past clients, whatever it is, so you're not doing extra work for everything, you're
doing one straight process that feeds everybody and everything.
So, this is what I would do: just listed call, direct mail piece.
When you just list a house, just listed call, direct mail piece that says "just listed,"
and to me, I would do either a professional white letter or a yellow letter as the very
first piece that goes out.
If it's not your listing, talk to the listing agent first or your broker, and say "Hey,
I want to market to get your house sold, can I go ahead and put it out there?
I will not claim that I am the listing agent, but I want to go ahead and do some marketing
for you."
And you tell them, "Guess what our team/brokerage/whatever did for your neighbor?
We just listed their home."
We've found that most neighbors are the first people that are gonna bring somebody to the
neighborhood to buy the houses that are being sold there.
"Do you know anybody that's looking to buy or sell," bah blah, there's a ton of scripts
online, so I'm not gonna insult your intelligence.
Next: open house call, this is circle prospecting, folks.
You have an open house, 50 homes around there, you should be calling, inviting them to that
open house.
"Come check out the open house, it's gonna be out here, I'm gonna be doing it," you should
be doing that for every open house.
Then you're going to do a walkabout, drop a flier, "Open house this Saturday, be there
or be square," and then I'm gonna also send out a text message.
I'm gonna do my open house calls on Thursday, I'm gonna send out a text message on Friday,
and I'm gonna do my walkabout either Friday or Saturday right before the open house.
I'm gonna go out there and try to expose, expose, expose, touch in multiple means, invite
them to the open house.
When you go into escrow, "Guess what we just did for your neighbor?"
You're gonna send that out on a phone call, you're gonna send it out in a text message,
and you're going to send out a direct mail piece.
Professional white letter, or a yellow letter - if you don't know what a yellow letter is,
it's usually (hold on one second, got one right here, love these things), it's a yellow
notepad, and you're just going to write whatever you want to write.
Now, if you're doing it in mass production, which I've done before, you know, like hundreds,
I actually go out on Facebook into one of the local groups (out here, locally, it's
Friends of Fallbrook) and I say "Hey, I need somebody to handwrite some letters for me.
I'm willing to pay 10-15 cents per letter, super easy, it's about three sentences."
Usually what I'll find is wonderful, amazing stay at home moms (which in my opinion is
one of the toughest jobs ever), they actually will take you up on that, you basically create
a framework, they sit there and handwrite the letters, and then I have them handwrite
the envelopes.
I throw stamps on them, I mail them out, so I would highly recommend ... Because it's
a different way of connecting with somebody.
Somebody's gonna see a professional white letter, and it's something that they're used
to, but it's very rare when somebody sees something that's physically handwritten to
them from you, and you put their name in it: "Dear Bob, you're the best, love to sell homes,
want to connect."
Next, so we've talked about sold ... Monthly, once you actually get past the sold process,
now we're gonna talk about the monthly: monthly text messages with market update.
Then you take that same monthly market update, and you create a digital flier off of that.
That digital flier should be what you send out in a text message, and it's what you put
on social media, and it's what you email to your database every month, that you have in
your CRM.
I also send out, weekly, a weekly open house ... If you guys follow me on Facebook (because
I think I'm at 5,000 friends), if you follow me on Facebook, you'll see every week our
team sends out a weekly open house and individual super cool digital pieces for open houses,
and we also send that to our entire CRM.
So, send it out in texts, send it out by email, put it on social media.
You're gonna do a monthly farm call, every month; it started off with 40 people, but
you've listed three homes, so guess what, that just keeps going up times three, right?
You're gonna call every month, "Hey, just wanted to give a call, let you know what's
going on in the market.
You looking to buy or sell, know anybody looking to buy or sell?"
You're always gonna touch base with them on the phone.
And then the very last one: every month ... Now, this is the key, one of the agents that asked
me yesterday says "I'm planning on sending direct mail out every three months," I am
not a fan of sending direct mail out every three months.
It just doesn't give the exposure.
You have to understand, direct mail is something that you need to send out every month, consistently.
You're not going to get a return for three to four months, your true returns come after
you've become recognized (three to four months), then they start engaging.
Once they start engaging, you can expect to get anywhere from a 3-5% return off of direct
mail if you're sending it to a quality, targeted audience.
If you're not getting any returns on direct mail, you can reach out to me, same thing,
put a comment and I'll do a separate video, but usually what that means is that you're
sending it to the wrong people.
There is a way to actually target market - this way in particular, when you talk about creating
a farm, I believe in creating a farm off of success; so, these people already have seen
you, they already know you, like you, and trust you, and they know you win, you're gonna
sell the house.
So I would say, if you're going to farm, do that.
If you're trying to do direct mail specifically, just for direct mail, that's a whole different
beast: you need to go to ListSource or call somebody directly like Yellowletters.com,
and they will create an actual campaign for you to do.
Now, from there, it's real simple: rinse, repeat, and keep adding addresses and phone
numbers to that database.
Rinse, repeat, keep adding addresses and phone numbers to the database.
Every time you have a new listing, every time you have a new in escrow, every time you have
a new sold, you need to be going through this cycle, and that's how you create a farm over
time that is always going to win, instead of [knock, knock, knock] and being stuck with
only 300 homes in the same neighborhood, that may not have a turnover that can actually
feed you or your family.
That's all I've got, I went way over my time, but I thought this one was extremely important.
For those of you that actually watched the whole thing, congratulations, because you're
gonna make some money off of this if you implement it.
That's all I have, do me a favor: like/share/comment, make sure that you check me out on YouTube,
check me out on Facebook, love the comments, love the people that are calling me, you can
always call me, and man, I'm just excited about being able to put out this kind of content
to be able to help people.
It excites me, I feel like I'm doing the right thing, because so many of you are actually
responding and communicating with me by private message on Facebook or on YouTube, and you're
telling me it's helping you.
I'm on a mission: I want to help change the industry, because I think the industry is
not in a great place, and I think we need to be the stewards of our industry, to try
to help each other actually succeed.
There's plenty of business for all of us, all right?
Be the top 1%, get after it.
That's all I've got, appreciate you, KSA Kris, Real Estate Blitz, and we'll see you tomorrow.
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