As many of you know, I sold my real estate business in 2007 for 7 figures. Nobody thought something like this was possible. How can a small real estate business be worth 7 figures?
The business was worth 7 figures because I engineered systematic lead generation and conversion, which delivered a reliable flow of monthly home sales.
In fact, here is how my monthly numbers looked on average when I sold my business:
New Leads Generated 400
Prospects Applying to be Clients 30
Applicants Signed to Buyer Contracts 22
Number of Homes Sold 28
You might be wondering how we averaged 28 home sales a month when we were only signing 22 new clients a month?
Our clients bought more than one home.
The person who bought my business bought the systems that delivered these numbers. Hopefully, this highlights how valuable systems are to your business.
In this newsletter, I thought I would share one of the strategies I used to generate and convert leads. The strategy I’ll be sharing was a “manual” lead conversion strategy that can be easily automated today.
Below I’ve included an advertisement I ran back in 2005:
(Click on the Image to Enlarge)
This advertisement is for a free real estate investing class and you might notice that this advertisement was offered in the Willoughby Parks and Recreation City Guide.
In our area, each city offers various activities and classes to the residents. Some of these activities are free and others require a fee to participate. I made my class free because it was a lead generation and conversion tool for my business. Notice the class above mine was offered by an attorney and she was charging $15 to attend her class. Who do you think had more attendees?
What most small business owners don’t realize is that you can offer to teach a class for the city and use this opportunity to extract new clients.
The cool part about this strategy was that it was FREE! The city wants to offer a wide variety of activities and classes for their residents and would provide a classroom, projector and market the class in their guide without cost.
More importantly, they would handle class registrations on my behalf. To attend the class, the person would have to register with the city by giving their name, mailing address, phone and email address. The registration lists would be provided to me for each class, which represented “targeted” leads for my business. I could add these targeted leads to my monthly newsletter and market to them each month going forward.
During the actual class I would give great content on real estate investing. At the end of the class, I would offer a free private consultation to answer attendees questions and help them get started looking at investment properties.
These classes delivered very high quality clients that bought several homes over the years.
This strategy delivered such high quality clients that I started to market free investing classes to the public in larger circulated newspapers. Free classes quickly became a consistent source of new leads, clients and sales.
However, free classes were NOT automatic.
The classes offered through the city were a little easier, because the city handled almost everything. I simply showed up and taught the class. The classes offered to the public were a lot of work, because my office handled the class registrations and all of the follow-up, plus we hosted the classes in our office conference room.
Today all of this can be automated through technology by offering free webinars instead of free classes. To see an example of how this works, you can register for a free webinar I teach each week:
As you register to see how this technology works, understand that this webinar is completely automated from week to week. Once this is setup, it runs on autopilot.
The webinar sign up page automatically adjusts the date based upon when the visitor sees the page. This simply means every visitor to the sign-up page will see the next webinar date and time.
Once someone registers to attend, the webinar software automatically confirms the registration and plays the webinar at the scheduled date and time. You should play prospect and watch my webinar to see how this works. It’s awesome!
My webinar is programed to play every Thursday afternoon at 2pm EST. It simply plays automatically. I might be at the picking my kids up from school, working on a marketing piece, or reading a book and “targeted” prospects are attending my webinar.
The service I use for automatic webinars is:
On their home page, you’ll probably notice they offer the opportunity to “see” how their program works from an inside perspective. It’s definitely worth your time.
For the most part, this automated webinar technology is only used by information marketers to sell training courses. In my webinar, I’m promoting my Ultimate Foreclosure Boom System, which is a damn good course… but I’m a little biased.
I’m hoping that you change the game and leverage this technology to automatically convert your prospects into clients.
In essence, you would turn a free class into a video. The webinar service turns your video into a recurring webinar. The best part is that the webinar appears to be a “live” event.
You can have webinars for buyers, sellers, investors or any other prospective client you might want to work with. Instead of selling a product at the end of your webinar, offer a free private consultation like I did with my free classes.
Here are a few webinar ideas for you…
- How To Sell Your Home in a Down Market
- How To Buy A Foreclosed Home for Pennies on the Dollar
- How to Turn the Real Estate Crash into Monthly Income
This recurring webinar system is very powerful and does require some time to setup. The time investment is definitely worth it because once it’s setup, you won’t have to lift a finger going forward. Everything happens automatically and you could be hosting several different webinars each week.
You might setup a weekly webinar for buyers, another one for investors and a third one for sellers. Imagine how many appointments you would have each week with 3 different automatic webinars playing.
Back when I was physically teaching my free classes, I would spend around 3 hours at every class. This included the setup time before the class, teaching the actual class, and talking with attendees after the class.
To offer a one class each week would require around 12 hours a month. This time was definitely worth it, because these classes delivered high quality clients. To repeat this process the next month, I had to trade hours for dollars and invest another 12 hours teaching a weekly class.
With this recurring webinar technology, you might invest 12 hours setting up your recurring webinar and it would be completely automated from that point forward. Your automatic recurring webinar will be a very valuable sales asset that can drive new clients to you on a consistent basis!
We often hear Michael Gerber’s famous words, “it’s better to work on your business than it is to work in your business.”
Setting up automatic recurring webinars that systematically convert leads into appointments is definitely a “working on your business” activity.
P.S. As I write this article, it looks like StealthRecurringWebinars.com is sold out. I would suggest two things:
1. Watch the videos on the site and register for the daily webinar that is offered in a pop-up window. As you do, think about how you might use the same strategy with your leads.
2. If you’re interested in using their service, email their support team and let them know that I referred you. You may be able to get access to the software without having to wait for it to open to new subscribers!