Do you handle a team of ISA and agents? What are the challenges you are facing with in your team? Today, I will be interviewing one of the ISA Maps Coach, Katie Thornell-Collins. Katie will share with us some of the challenges she had seen from other teams.
I asked Katie what common things she sees from other teams that have the same failure over and over. Her answer is the lack of clarity on how leads should be worked.
What does this mean? According to Katie, some teams don’t have the systems in place. How often they should call a lead and how they categorize each lead? Here are some questions that Katie shared to help you and your team to do this process.
What type of category should I have for my leads?
What does the follow-up process need to look like?
What type of questions does an agent need to be asking a lead?
Some agents are doing it well. What they don't realize is that they have to make that process available to everyone. They do not have rules for their CRM. Some teams do not have CRM, and some have it but they don’t use their CRM at a high level.
When Katie started in real estate, she was only writing notes on paper and that was her CRM. I remember when I was laid off my job, I called Haro and told him that I was available at that moment. I started the next day. We used a file cart with folders on different months and that’s where lead sheets were placed. It was horrible, ha! The bottom line is, you need to get your systems in place.
So where do you start in creating your system and categorizing your leads? Watch the video and learn how you start setting up your system.
[Watch 01:55 - 04:22]
You need to do the 36 touch for your database. As Katie said, your database is your business. Why would you have contacts in your database if you don’t have a lead? If you decided to leave real estate later on and sell your business, your CRM is what you would be selling. The more notes and accurate your database is, the more valuable your CRM will be.
Another thing you need to consider is the number of qualified seller leads. It is going to be proportional to the amount of success you will expect in your business. Consistently add qualified leads to your system. Then make your plans of follow-up to these leads. This will be a huge improvement in your business.
The next question is how do you determine if you have a qualified seller lead? Continue to watch the video and understand how to identify qualified seller leads.
[Watch 04:23 - 06:32]
Katie’s team uses 5 Criteria to identify nurture.
3. Opportunity to represent them in real estate transaction
4. Accurate information
5. The Lead directs you when to do a follow-up
These are the criteria that will help you determine if you have a qualified lead. What Katie taught their agents is if they can put at least one nurture a day into the system, then you get a pat on the back.
Imagine if you have at least one nurture in a day. That’s five (5) in a week multiplied by the number of agents you have on your team. That is creating an avalanche of leads!
Another question I asked Katie is about returns. When someone joins the team and starts adding contacts in their CRM, how soon can you start seeing ROI? Watch the last part of the video to know what to expect in turn around.
[Watch video 06:33 - 08:14]
The key here is to have the right mindset. This process might take a while to see the returns. You may feel during the first 3-6 months that you are doing all this work and not seeing results. It will absolutely pay off over time.
When I first started in my coaching role, I coached a different industry. In the first three (3) months I felt that I was failing because I wasn’t seeing appointments. Let me share with you what Haro told me, he said “Stay at it. The right activities lead to the right results.” And he was right.
My challenge for you out there is to use proven systems and models. Have the right mindset and give it more time. It will definitely pay off.