Shift Tactic #4: Find the Motivated – Lead Generation is all about…you guessed it, Lead Generation! But not just any leads–this is how you find those leads who are truly motivated. Real Estate Trainer and Coach Joe Quattrucci takes us through an analysis on what drives motivation. In this tactic, Joe dives into the concept of strategies as they drive our daily activities, decisions, and everything we do.
Understanding Shift Tactic #4
As soon as the signals of a shift begin showing up, take action. Take notice if you see fewer leads, fewer showings, and increasing days on market. Don’t ignore the signals or wait to act. These are the early warning signals of what is likely to come…
Gary Keller simplifies the cause and challenge of a shift into just one word – motivation. What is really happening during a market shift is that buyer and seller motivation is changing, often at the same time as the economic landscape is changing. As a result, the shift leads to an adjustment in inventory (supply and demand), and this in turn affects everything else.
Step 1: Stop Doing What Doesn’t Work
Time and money are two resources that are more important than ever during a shifting market. As a result, we all need to look at how we’re allocating each of these resources as it pertains to lead generation. Shift Tactic #4 requires us to do some work on our business. Understanding that we should stop spending money on lead generation that isn’t working is the easy part. However, actually measuring, analyzing, and then pivoting is where the work part comes in.
Here’s a quick exercise:
Step 1: Write down your top 10 sources for leads – where your deals actually come from.
Step 2: Beside each lead source, write down the total number of valid leads or closings that source has brought you. Rank your lead sources in order of 1-10.
Step 3: Focus all your time and money on the top 5 lead sources, and stop allocating time and money to all the others.
You should do this exercise every month. Why, you ask? Because running an effective and profitable business is an ongoing, never-ending process.
Step 2: Figure Out What Works
Now that you have identified your top 5 sources of leads, lets dive into your system of execution. This includes both your message and your method. To be successful with Shift Tactic #4, both message and method must be on point.
First Principle of Lead Generation
The first principle of lead generation is that your messaging needs to match your current market. This is actually referring to two separate “markets.” The first market is the target market of buyers and sellers with whom you communicate. The second market is the market conditions of the areas in which you operate. In other words, ensure you convey a message to a targeted audience that is relevant to what is happening in that area.
Second Principle of Lead Generation
The second principle of lead generation is that your messaging must make an offer to get a response. This is also known as a “call to action” or “Make Offers for Immediate Response (MOFIR).”
You can offer a direct offer. This is getting them to make a decision to buy or sell with you. Alternatively, you can offer an indirect offer. This is providing something of value such that you get into relationship with them and the doors for doing business together open.
Your Message Needs a Method in Shift Tactic #4
Now that you have your messaging figured out, you need to consider how you are going to deliver that message. This is known as marketing and prospecting. Think about these two methods as mutually supporting each other, not mutually exclusive of each other.
There are dozens of different ways to prospect and market. Also, many of them can work in most markets. Therefore, the question really becomes this:
What methods will generate the most leads in the shortest amount of time, for the least amount of of money and effort?
For Shift Tactic #4, consider starting with the people who you know are already motivated to sell. These people might be FSBO’s, cancelled listings, or expired listings. Next, consider the people that you’ve already met and cultivated some relationship with. Even if they don’t have a need, they are more likely to give you a referral since they know you, rather than give one to a complete stranger.
No matter what your behavioral style or preference, take big action and really go for it. Don’t just do a little and expect a lot. Time on task over time will serve you well in mastering any of your approaches.
Step 3: Ramp it Up in Shift Tactic #4
Now it is all about getting into action and becoming a lead generation machine! To have consistent business in your sales pipeline, you must lead generate consistently. Sure, you can get lucky from time to time. However, in a shifting marketing, you’ll need more leads. As a result, this means spending several hours per day, every day, actively prospecting and marketing your business.
As Gary Keller says, “Dealing with business never takes precedence over finding business. Never. You must adopt the position that until your lead generation is done every day, nothing else should get done.”
Another way to remember this – until your lead generation is done, everything else is a distraction!
In order to consistently be effective, you must be willing to set aside daily blocks of time on your calendar. These blocks are there for you to execute your most important business priorities. As you are looking at your time blocks for the year, start with your time off. After that, move into your lead generation time. Then plan time for more business planning. Business planning time will let you continually measure your progress and make small corrections where necessary.
Real Estate Market Shift Tactic #4: Find the Motivated with Joe Quattrucci
In addition to this Market Shift Series, Keller Williams Arizona Realty offers an Agent Opportunity Pathway that is unrivaled in this market. There is no other brokerage in Scottsdale that offers as much value for agents as KWAZ.
Contact us today to learn about the training, support, and career opportunities you will find at KWAZ. Our real estate coaching program is known as one of the best in Scottsdale for both new and experienced agents.
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