LMT Lead conversion follow up- The 12 Step Process

Lead Conversion & Follow Up Plan L I F E S T Y L E M A U I T E A M

Lead Conversion and Follow up In this Guide we will discuss: Lead conversion and follow up are the fastest ways to success on the Lifestyle Maui (LM) Team, we provide you with numerous types of leads and all of them require follow up and nurturing. The 3 types of leads we typically provide. Why everyone else’s leads SUCK! Speed to lead! The schedule of “Follow up Protocol” to make contact. The right way to engage with the prospect to gain their trust & become their agent. Why consistent communication is important. Once you have a quality connection/conversation, whats next

Registration Leads

The three types of leads that we typically provide are:

All of these leads have merit and require attention and will lead to closed sales as long as you work the program. Keep in mind it is a numbers game, you will not convert them all, but by following the system, and the process your success will be exponentially improved which will substantially improve your bottom line. On the next pages we will discuss the types of leads more in depth

Registration Leads also known as forced registration leads are leads that are generated when a consumer is surfing the web and stumbles onto our site as a result of a web search for real estate or possibly from a social media funnel page that offer the clients the opportunity to sign up for more information, or when they are required to provide more info to continue to search on our website (Forced Registration) These leads tend to be in the early stage of the search process and require a bit more nurturing to get to the closing table, however they are interested or they would not have clicked and enrolled

With a resort market like Maui very often we do get dreamers, but know that all the current owners on Maui Started with a dream, so please do not discount them Approach them with the right attitude, be of value and let them know when they are ready you will be there for them With these leads it is important to get them on a drip campaign and in our newsletter system so that when the time is right you have become their Realtor of choice by consistently being top of mind. The gestation period for these clients can be weeks to years…So far my longest contact to close has been 12 years… but it was worth it as it was a $4M sale Patience is important, but remember success in Real Estate is having a long and successful career and leads like these build the future

The 3 Types of Leads

Registration Leads Premium Leads Committed Leads

T H E 3 T Y P E S O F L E A D S

Premium Leads, as the name implies these leads come at premium They are expensive and we pay $100’s of dollars for each lead, please do not squander them These leads are from Realtor Com & Zillow and are typically much closer to the bottom of the sales funnel and are more likely to be ready to perform sooner. They have been researching, exploring and getting educated on the market and have decided it was time to speak to an agent when they click the more information link on the site and provide their contact info These consumers typically expect to get a call right away for information on Maui Real Estate they are interested in They want to talk to a knowledgeable, professional resource Do not wait to research the property, call them immediately Speed to Lead is critical and far more important than having all the answers on a particular property My experience shows that 8 out of 10 times the customer has just finally decided they want to speak with an agent and the property they click on was just the vehicle to start the conversation By being the first to call quickly it starts the process to professionalism Sometimes they are expecting to speak with the listing agent as the portals can be a bit less than clear on who they will be contacting. This objection can typically be overcome with the proper and truthful response as follows; Customer hi are you the listing agent? Agent No, I am one of the “Premiere Agents“ that works with ( realtor Com or Zillow) that has been assigned to your inquiry, typically you can then start the qualifying process, if they still say they would like to speak to the listing agent, politely ask if there is a particular reason they prefer the listing agent instead of an agent that will represent their best interests as you will and negotiate on their behalf not the sellers? There are usually 2 reasons the consumer wants to speak to the listing agent 1 They want a discount on the purchase price and think if they work with the listing agent they can get a better deal because they will cut their commission if that is the case it is a good time to discuss dual agency and the limitations a dual agent has in this situation. And explain typically a great buyers agent like “ you ” will be able to negotiate a better deal because you do not have the limitations that dual agents are faced with in Hawaii. 2. They have detailed questions about a particular property, in this case start with understanding what info they are after do the best you can to answer and commit to getting them the info ASAP and let them know you will call them right back Premier leads are an excellent opportunity As mentioned earlier, the property they originally clicked on may not really be the type property they are after, often it is on the low side of their affordability range but it looked like a good deal and that is why they clicked on it Explore their needs and ask lots of questions Conversion rates on Premiere leads are higher than conversion rates on registration leads.

Committed Leads

Premium Leads

Committed Leads These are my favorite type of leads, these are leads that are from customers that have already committed in their mind that we are their agents based on our content creation, online presence, Social Media personalities & most importantly our Customer reviews These are the best new leads we will get They have done their research, scoured the internet, researched Maui and explored numerous RE websites including Google, YouTube as well as a variety of real estate websites & checked out Realtor profiles. Part of their search is for an agent that they think will best fit for their needs Nirvana, they picked us, we just need to provide the level of service we promised and they expect and we will have a loyal client for life

Why Everyone Else's Leads SUCK This is not a one & done activity It is a simple process that will result in amazing results First it is important to understand the the average conversion rate per NAR for all online leads ranges from 04% to 1.2% but other sites claim it to be 3% to 5% that would likely be based on curated leads and or premiere leads This is on average, based on the vast majority of agents that do not have a system and process in place So again remember it is a numbers game, but this is a game you can consistently WIN. Just practice the lead followup protocol in this guide and you should be able to convert closer to 10% of your leads…That translates to a substantial increase in your production. Let me show you this by the numbers So often I hear these leads SUCK, but the reality of it is: The agents' FOLLOW-UP SUCKS. 1st Contact > No Connection > 50% of all Agents have Given Up 2nd Contact > No Connection > 65% of all Agents have Given Up 3rd Contact > No Connection > 79% of all Agents have Given Up 4th Contact > No Connection > 89% of all Agents have Given Up. Opportunity Begins 5th Contact > No Connection > Your persistence is gaining traction 6th Contact > No Connection > Provide information of value to build trust 7th Contact > No Connection > You are gaining Top of Mind Awareness TOMA 8th Contact > No Connection > You are most likely the only person still in touch 9th Contact > 90% of the time you will be the agent of Choice if/when they buy I know this seems daunting, but it is a simple system of calls, texts and emails and the only expense you have is less than a total of 10 minutes of time I hope you can clearly see The Leads Don’t SUCK…The Follow up does. Get in the habit… follow the process and you will crush it! Lead Follow Up & Conversion Guide | ©2022

Speed To Lead

The first reason is the simple statistic that shows that of customers that answer on your first call 78% of those sales go to the first responder That's huge How quickly should you call? At very least within 5 minutes, but even better is under 3 minutes…So as soon as the lead comes in, grab your phone, review the lead, Identify the property, and call the client DO NOT research the property prior to calling this only wastes time and lessons your success dramatically Start the conversation and engage, ask questions, provide value and gain their trust by being sincere and honest. If they do not answer, hang up (Do Not Leave a message) call back in 1 minute if still no answer leave a message and send a text. Then send a Video text & then follow the rest of the follow up protocol as laid out in the “Schedule of follow up protocol to make contact” in this guide. Why do you need to be so quick to respond, because as you know when someone is ON LINE searching… their attention span is very low and if they do not get immediate satisfaction they are onto the next site to get the info they need/want At this point they have no loyalty to you, in fact they have no idea who you are…Do Not Wait to let them get to know you or even worse give them time to get to know another Realtor :(

Why Speed to Lead is one of the most important first steps.

One last thing to keep in mind upwards of 80% of all leads are lost because of no or poor followup lets not be part of those numbers I have created a 12 step process to making initial contact once a lead is delivered to you.

Follow Up Protocol

This is the system…This is the process…this is your path to success. Understanding the numbers along with following the System & Process will make this journey understandable and will help you to avoid being discouraged Yes it’s a numbers game but more importantly it’s a people game just like baseball or basketball…both are won by the numbers…but the success comes with the people we work with, the training we put in place and the skills we continuously enhance by practice and repetition But most importantly by remembering the “LEAD” is a real person that is looking for a skilled professional to help them do something they are not able to do themselves So Provide Value, Be Consistent and most important be REAL…

Make sure your hair and clothes are looking good Remember to be smiling when you record and look straight into the camera, this is your opportunity to make eye contact with your new client

Capture their contact information in your phone including name, phone number, email address, in business line in contacts enter an abbreviation of where the lead came from RC Realtor. Com Z= Zillow etc. also add the estimated price point based on initial property if available ie. $500K and the date 4/17/22 this way when they call you you will immediately see in your caller notification some important info to give you a head start on the call and also be able to add the info to your CRM in the future You can always update this when you make contact Step 1a: Within 5 Minutes

Step 1: Within 3 Minutes of Lead being delivered to you

This is one of the most critical parts of the process, that I can guarantee will set you apart from the rest of the agents that may be trying to connect with the client This adds a true connection that will make all the difference Grab your phone go to contacts, find your recently input new client, hit the send text button, find a good spot to stand wherever you are hit the camera icon go to video and do a 15 second or less simple video with a script something like this “Aloha this is Tom Tezak With the Lifestyle Maui Team & Hawaii Life You just reached out on Realtor com and I wanted to put a face with the name I look forward to being your Maui resource just let me know how I can help ” Remember to keep it under 15 seconds as this seems to send quicker and is just enough to convey your personality, smile, be engaging and sincere As we know people like to work with people they like and they can trust and this is an ideal first step in that direction

Step 1c: Within 5 Minutes

SHHH Don’t tell any other agents about this technique, the uniqueness is what sets you apart

Send a text message letting them know you received their request for Maui Real Estate info and encourage them to call or text for more information on the particular property or any other properties they have interest in also in the body of your text finish with: Your Name, Maui Realtor, Your Phone Number, Your Email Address, Lifestyle Maui Team and Hawaii Life Real Estate Brokers this text should be simple and to the point, just let them know you are ready to assist Step 1b: Within 5 Minutes

Don’t be afraid to delete it and re record until you get it right Once you start doing it, you will become a pro at it trust me this really works

12 Step Process

Assess the lead and determine what property or what video they are inquiring about, what time the lead came in, is it a local phone number or an out of town phone number (by understanding if the client is local or potentially from out of town will help in framing the initial conversation. More about this later in YCS), Then immediately grab your phone & call them…Do NOT text…Do Not Email…It is imperative that you call and attempt to reach them on the phone First… Remember speed to lead is important. If they answer, follow the protocol in the YCS (excellent, connected on the first try) if No answer, hang up, do not leave a voice message… wait 30 seconds and call back again. If still no answer, leave a message identifying yourself & that you are a member of the LM TEAM & that you were responding to their request via what ever lead source they came in on. In your message let them know you have been in the business for X years & you would “Be Happy” “Love” “Be Excited” to assist them with their Maui Real Estate needs. Leave your name again & your phone number S L O W L Y & let them know you will also be reaching back out to them again since you missed them.

Tips for your video:

As soon as you make contact, move on to the “Your Connected Stage” (YCS) of the Conversion Process. to making initial contact once a lead is delivered to you

It is important to send the text message first so that you have identified yourself in writing first otherwise they may be reluctant to open the video Find a space in your office or house that feels comfortable to shoot the video, if you are on the road just get it done in a quiet spot, don’t wait I know I have a spot that has great light and a great background that looks great and gives me a little extra confidence

You may be tempted to talk about the property, but don’t This needs to be quick and brief it is just to set you apart and to be memorable, remember this consumer just clicked on a link for information they have no idea who you are, just give them a little idea

Step 3: Third Day

Call your lead, try calling around the same time the lead came in on day 1, if they answer move to YCS (YOU’RE CONNECTED STAGE) protocol, if No Answer leave an upbeat professional voicemail first identifying yourself and the team and letting them know your ready to assist and encourage them to call or text you for assistance, and let them know you will be calling them back

Step 6: Fourth Day

Send a text with a message “Do you want to do AirBnB rentals with your Maui property? Watch this video and find out the rules on what kinds of properties you can and can not do vacation rentals on ” Include your text Signature and include a link to your video “What types of properties allow AirBnB rentals and which ones don’t on Maui This is how you start providing value and expertise to the client to show them you are a resource and can provide value

Send a text in the morning letting them know you are available to discuss their Maui Real Estate questions and remember to include your name signature in the text (tip set up your personalized signature with a keyboard shortcut on your phone)

E P P R O C E S

T H E S T S

At the end of the day set them up on a Paragon Collaboration link Base the search on the type of property they originally requested info on and expand the parameter both up and down by around 30% use your judgment but do not get too hung up on the parameters select homes or condos or vacation rentals depending on what they originally picked In your email, explain about the search you set up for them and that you made some assumptions, but you can fine tune it once you chat with them.

Encourage them to call and also let them know that you would be following up with a call to discuss the search.

Step 4: Third Day in the late morning if possible call the client, if no answer let them know that you set them up on a detailed search in Collaboration Link based on the property request you received from them and that if they did not see it in their email they may want to check their junk folder as it may have landed there Also let them know you can modify the search to their more specific needs, they will just need to let you know what they are looking for, again identify yourself and provide your contact info

Step 5: Fourth Day

1 2

Step 2: Second Day

Step 7: Fifth Day Today try a different time of day to connect than you have already tried, just be cognizant of the time zone your client likely is in, based on their phone area code (not always accurate but a good place to start) with this step. In the text message mention that you sent the buyers guide to their email and ask if they received it and include your text signature.

Step 12: Day Ten Pat yourself on the back for sticking to the process, add them to our nurturing CRM drip campaign and wait for them to call you when they are ready.

Send an email with your qualifications and the team's track record and qualifications of success along with a client testimonial and let the clients know you and your team are ready when they are to start the process of assisting them on their Maui real estate search. Also in the message include a link to our “Maui Buyers Guide” on ISSUU and let them know once they review it to reach out with what questions they have.

Don’t be discouraged no Realtor has stuck to it this long, the client should realize you are persistent and dedicated and some of them will appreciate your tenacity Send a text letting them know you were hoping to have heard back from them by now and would love some direction on if they are still interested in Maui Real Estate. At this point you might not like the direction they give you, but it is this persistence that will provide you TOMA “top of mind awareness ” in this prospects mind, if they are on pause but do come back into the market you will have a much better chance than any other agent Just be professional and gracious with this message, if they do tell you to go away, respond by letting them know you appreciate them responding and when they are ready you would love to assist them

Step 10: Day Eight

Send an email with a link to our Lifestyle Maui Youtube Channel www youtube com/lifestylemaui and let them know, “ you realize they may be early in the process and they can find a lot of information on our Youtube channel where we answer the most frequently asked questions about Maui Real Estate, tour dozens of neighborhoods and condo developments and explore fun things to do on Maui In the same email you can direct them to our website www lifestylemaui com where they can do their own searches and follow our BLOG for current info on Maui Real Estate ”

Step 8: Sixth Day T H

Back to the phone, try calling around the time the lead came in and let them know you are still interested in helping them, if they could be so kind as to let you know if they are still interested in Maui Real Estate

Step 11: Day Nine

Step 9: Seventh Day

E 1 2 S T E P P R O C E S S

Follow Up Protocol Tips For Success Always personalize every contact, it is ok to copy and paste texts and emails from a file but always put in their names, never send anything that looks generic If you miss a day just pick it up where you left off and finish the process, don’t panic and more importantly don’t quit! Be consistent, but be creative, this guide is an outline, try some different verbiage or a different video, or add another video text. If something different is working better let the team know. We improve by trying and assessing what we do Keep track of your success. We can only improve what we track and measure. Have fun with this and enjoy the process and reap the rewards Humor Me, commit to this process for 60 days, if it does not dramatically increase your success I will never make you call another lead 1 2 3 4. 5 6. Lead Follow Up & Conversion Guide | ©2022

Ok Great News the Client answered or called you back! At this point be careful NOT to launch into being a salesperson, but start by being inquisitive and being their guide (you will see an exception in the next section). Ask questions about what they are searching for? What does the perfect property look like for them? What do they love about Maui? How many times have they been to Maui or how long have they already been living on Maui? Listen for indicators: do they already own Maui? Will this be a 2nd home, a third home, a primary Y.C.S You're Connected Stage The right way to engage with the prospect to gain their trust & become their agent of choice.

Important

A vacationer looking to buy a property that they can use for vacation rentals, A second home buyer that is looking for a getaway property that they want to leave vacant and use when they want, A transitional buyer that wants a second home that will become a primary residence once they retire A buyer relocating to Maui as soon as they Close Once you have made contact the first time, it will be important to understand several things so that you can provide consistent follow up and set a level of expectation. Start by understanding if the prospect is a:

Why Consistent Communication

A first time home buyer

Local resident buying a primary residence

*Keep in mind most of these buyers could fall into the Luxury Buyer Category which will be best served by a little different approach than those non luxury buyers. That distinction will be covered in another Guide is

Why Consistent Communication Is Important (continued)

Once you have ascertained what type of customer they are you should then get an idea of their time frame next week, next month next year after they retire this will be important in determining when you should be contacting them and how Based on the time frame you will want to lay out a communication plan and engage the customer with the plan by letting them know what to expect Also find out if they prefer to talk on the phone, jump on FaceTime /zoom or text. The best way to do this is to ask, some clients will only want to text, some will only want to talk on the phone and some will want to facetime, be flexible and adapt to their preferences However I do encourage you to at least have an initial phone conversation to gather the pertinent details of their needs and desires as well as their search parameters I find by explaining this to the avid texter that you can save a lot of time and be the most accurate and efficient if you start with a phone or zoom conversation and after that you can use text for the bulk of your communications. This explanation is usually well received.

Follow Up

In this conversation ask if they are on island now or have plans to be here in the near future and if they would like to tour properties or do a nickel tour

As part of the conversation you should explain the Collaboration Link from our MLS to them and tell them how to use it and why it is so cool If they are looking for a AirBnB property This is also a good time to explain how Maui properties work and that not all properties can be rented And that None of the large portals like Realtor, Zillow or Redfin have the ability to differentiate legal vacation rentals from non vacation rentals…But you can and that is why it is important that they allow you to set them up on the Collaboration link. You should also let them know that you will be adding them to the team email newsletter that will keep them abreast of what events are happening on Maui and what the Maui Real Estate market is doing Also let them know you will be reaching out on a regular basis (to be determined by you depending on their timeframe) as well as when the perfect property for them hits the market.

NOTE: If the client is ready to start looking right away be sure to set a time and date and start the process, very often the realtor com leads are ready to start the process quickly be prepared for that conversation. In the section above I mention not to be in a hurry to talk about properties, but when they are ready to set an appointment, then set the appointment. All of this information is a guide and the more conversations you have the better you will get at reading the conversation and what the client is after Lead & Conversion

Once you have a quality connection/conversation, what's next?

What's Next?

Understand what is important to the client, create a HOT CLIENT LIST to keep track of your active clients and what they are looking for, their time frame and when they will be on island if they are off island buyers. Keep the list in a conspicuous place so that you see it all the time. Now the job is to find the ideal property for the client, the best way to do this is to check the hot sheet 2x a day once when you start the day and at least one more time in the afternoon scan what is new on the market and check your Hot Client List A good habit to have is to check the hot sheet every time you log into the MLS to see what has come up in the last few hours If you keep your hot client list nearby you can always be checking to see if there are any new opportunities for your clients

There is nothing better than being able to call a client with the excitement of a new property that just hit the market which may be perfect for them. They will appreciate your dedication and commitment to them Then once you find the ideal property, write the contract, get it accepted and help your client to have their Maui Dream come true!

L I F E S T Y L E M A U I T E A M Connect Online LifestyleMauiTeam.com YouTube.com/LifestyleMaui Facebook.com/LifestyleMauiTeam Instagram: @Lifestyle Maui linkedin.com/in/mauirealestateagent