You're listening to the John kitchens podcast experience.
This is your host, John kitchens.
Get ready to gain clarity, build confidence, and then cover the
framework to become the CEO of your real estate business.
Your journey to seven figures success starts now.
What is up everybody, man.
Thank you guys.
Tune in to another episode of the one big fire live.
And, uh, like always we're bringing the fire and, uh, I'll be excited
to, uh, you to introduce our guest and ready to cannonball in here.
Absolutely.
Yeah.
I mean, one, one of the things that we've really focused
heavily on and, uh, and helping agents get into production
is obviously lead generation.
It's, it's something that's talked about a lot.
It's also something that, um, there's a million different ways of doing it.
And, um, we know that, that, uh, Lance and his, his team have
really nailed, nailed the model.
And, um, I'm just excited to learn more about what you guys got.
You guys always got something good going on over there.
Um, but, uh, yeah, Jay.
Um, yeah, I'm excited about this, this conversation.
Lance, how many leads a month would you say that realty.
com is generating right now?
Just over 50, 000.
So there's some opportunity to be had.
So, uh, you know, certainly it may be talking, maybe talk a
little bit about your model.
Cause I think, you know, I think agents get, um, a surface
level understanding of leads.
They, you know, they buy Zillow leads and they buy realtor.
com leads and, you know, and there's, you know, starting to do
some demand generation type things.
And when they get a little bit more advanced in understanding,
you know, they, they, They want to have access to leads and whatnot.
Um, what, what is, what was your business model?
How, how are you generating this, that many leads and, and, um,
maybe explain kind of, um, what it is that you're doing for agents
and then we'll talk a little bit more about kind of opportunities
people have to get involved.
Yeah, definitely.
So, um, thank you, Jay.
And thank you everyone for having me here.
Um, it's great that I'm a honey badger myself and proud of it.
So.
And, um, you know, here we are on the eve of a major hurricane in Florida.
So I do wish everyone the best for Milton, but, uh, you know, um, on
that note, I'm a Floridian myself, but I'm, I'm out here hiding in
Houston away from the storm today.
Stay safe, everybody.
Yes.
Stay safe.
So, um, So we're a national lead portal and what Realty.
com is, it's a city, it's a, it's a platform based around exclusivity.
It started where every agent in America can buy their own city.
So to give you an idea, I'll name a few honey badgers.
You have Veronica Figueroa owns Orlando with us.
Or you have Jonathan Alfonso owns the Miami area with us.
But then you've got people like Ari Lopez out in Houston who owns
Conroe in the Woodlands with us.
So there's all different areas.
Where what we do is we partner with an agent in the city and we
work with them to push realty.
com as a whole.
And the more we grow together, the more successful the agent becomes.
And then we have coaches on staff.
We have ISAs on staff.
And what we do is we, we have the leads.
They come in through a portal.
Um, we integrate into FUB.
We integrate into Chime, Lofty, any CRM you could
think of, we integrate into.
When they come in, we say, first responsibility is the
speed to lead us on you guys.
But we'll also come and call the leads with you.
So that's our primary product.
And we have a couple of new products in the pipeline that we can talk
about today, but it's really about producing sellers and buyers.
And over the last 12 months, since the NARA lawsuit, we've gotten
really heavy on the sellers.
And one thing we've learned is that it's really hard to get someone
to say, raise their hand and say, Hey, I want to list my house.
But it's a little bit easier to say, hey, can you give
me a cash offer on my home?
It means they have some intent to sell.
And if they have some intent to sell, basically, there's a chance that
one, you can get an eXpExpress offer, open door offer, better homework,
or two, you can flip it into a listing when they're not happy.
With that instant offer.
So just, just kind of, um, you know, kind of break down how you guys are
staying market exclusive, right?
Like we've all, you know, written through all the, all
the platforms starting out with, with Howard, with, with Tiger
leads into Greer with Boomtown.
And then obviously, you know, our, our way deep in with
Dwayne, with commissions Inc, and you see those models, right?
They, they, they come out and they, they.
Promise exclusivity.
And then all of a sudden for them to continue to grow, then you've got
like, you know, 43 people in your market that have the same platform.
I mean, how are you guys, you know, staying exclusive, but
also, you know, able, able to, to grow on your own, right?
Realty.
com able to continue to grow.
It's been a little bit of a struggle with the exclusivity
because you'll have 20 people in one city that want it.
So we do have some alternative products that we have.
We have the realty seller pro realty pro that we'll talk
about a little bit later.
But, you know, we've been live for about four, four
and a half years now.
And to this day, Kyle Whistles had four years in San Diego,
Cliff Freemans multiple years in the Dallas market, um, Veronica,
you know, five, almost five years in the Orlando market.
And unlike other ones, you know, we've chosen to take that
financial hit, um, to allow the exclusivity to continue and
be loyal to our customer base.
Because We're portals.
Tiger leads isn't a portal.
Boomtown isn't a portal.
Nobody.
None.
None of them were portals.
Sync isn't a portal.
And if we grow together, we're basically partners in this.
And what that means is, is that you might not get an R.
O.
I.
Today and leads take nine months to continue.
But the agents that started with me three or four years ago, Are
paying the same as they paid four years ago and they're getting
four or five times the amount of leads because of how much
our organic traffic has grown.
Can you, can you define what that is?
What, what, what you just said, we're a portal, we're not a platform
or whatever, you know, they're kind of classified just, just to kind of
unpack that so everybody's clear.
So basically, but, and you know, this is nothing against sink or, or,
or boomtown or any of the others.
but on singer boomtown, y john sells homes in colum J.
Sells homes in Tennesse your domain is or fancy l and what those other
comp pushing all the traffic t And it's much harder to get quality
traffic to random domains all over the internet where it is
when you own the city with us, we push all the traffic to Realty.
com.
So as we grow, you know, right now we're probably, you know, we have
about 2, 000 cities live of 20, 000.
As we grow, we want to do Superbowl ads one day if we get big enough,
but we want to do And, you know, we want to do campaigns similar to
what other portals are doing, where we have playoff ads, TV ads, we're
already doing connected TV like Hulu and different things like that.
And the more we do that, it's much simpler to send quality traffic
to one place than it is to send it to 20, you know, 20 different
websites or 2000 different websites.
Love it.
That makes sense.
Yeah.
So you had talked about, so some of the people they are listeners of me,
they're going to be going to realty.
com right now, checking it out.
They may find out, shoot, my zip code's taken.
Is it by zip code or is it by county?
It's by USPS city.
That's how we do it.
Right.
So let's say, you know, some of our listeners, they're
like, man, mine's taken.
What were some of the other products that you guys are helping do, uh,
put, put new business in agents labs?
Yeah.
So one thing we've noticed is, is that we have between Google
and Bing about 40 million index pages, which is great for SEO.
And it continues to continue to get us traffic.
So we have two new products.
One is called realty.
com pro and realty.
com pro.
It's super simple.
It's 2495.
You get basically an IDX search page that has national search,
which we can screen share if we'd like, I could show it to you.
And then on top of IDX search, you get something called lead frenzy.
Um, we own other domains.
We own listing.
com.
We own texas.
com.
We own estimate.
com.
We own North Dakota.
com, Arizona.
com.
And the domain list continues.
And we have a partner network as a domains of when someone's looking
for a home on one of those domains.
We frenzy it to the person that owns the profile in our area and
you jump to get that lead first.
So it's 24.
95 a month.
It comes with lead frenzy coaching.
We do group coaching with Wally Ressler and Bill Pipe is going
to do a coaching session with us.
We love Bill.
Um, and then we also do, uh, seller nurturing.
So imagine this at 24.
95.
It's like a home bot fellow hybrid where you can upload your database
to our portal and we'll nurture the leads, send them and we'll
send them by listing reports.
We'll send them reports of your home value.
We'll send them, you know, who's selling in your area.
And then we have AI blogging and then national search
where the lead stays with you.
It's kind of similar to your link, your lead, but completely
national on your profile.
So that, and that product is 25 bucks a month for, and it's open to
all the XP agents and most the XP agents already have a profile set up.
And then we also have one called seller pro,
which is the same as that.
It's 150 a month.
And what you get to do is you get to jump at seller leads.
We guarantee at least two seller opportunities a month, and most of
them are looking for cash offers.
So we got it, you know, we have off training, convert a cash
offer into a listing or get a cash offer, extend it, accept it.
And then most of those cash offers will have homework, instant offers
attached with it, ready to go for your eyes only until you're
ready to share it with a customer.
And then when those seller leads come in, it's the same thing.
You get email and you text, you get, you jump, it integrates
directly into your CRM.
You get that lead.
It's your lead exclusively.
And this is the most bang for your buck to any lead portals
ever done on these two products.
No doubt that it's, it's, it's, it reminds me when I was in production,
you know, John, we, we all, anything like this is always a yes, right?
Like, it's just another pillar.
It's another angle.
It's another thing.
It's inexpensive.
It's going to produce as a high ROI.
You just want to, if you can get it, you want to get it.
It makes, it makes perfect sense.
So, yeah, so, um,
go ahead.
Yes, I was going to say, and then the other thing is, is that, that
it's all competitive atmosphere.
One, you get the blogging and the nurturing and all that stuff,
but you get to compete with other agents for the lead, which is cool.
That's what's creating, we're getting more conversion on the
competition leads than we're getting on people who own cities.
Nice.
Well, you said homeward instant offers, your eyes only.
What, what, explain what that is exactly on the cash offers.
Any market homeward is live and we're partnered with them.
Basically what we're doing is attached to the
seller lead on seller pro.
And if you own a city from us, there's a homeward offer.
That's a PDF ready to go.
that you can work with Homeward to close that deal.
So instead of needing to go to Homeward, enter all the information,
and do everything, we're already partnered with them, and you've got
that lead ready to go from Homeward.
We have reps on staff that work with Homeward that
can help you with that too.
Nice.
Cool.
So Lance, uh, you had mentioned that you guys are, you have an ISA staff.
Um, you know, I know that Zillow, uh, at one time, I don't know if they
still did, but they had, you know, they were, they were the speed, the
lead thing, they were calling them and then, you know, kind of, uh,
Transferring live transfers to the agents in a round robin fashion.
Is that a similar experience or product that you know,
part of your product offering?
So we have a couple of things that we can do in I.
S.
A.
We have all the current I.
S.
A.
For pro members.
But if you own a city, it includes it and it's not round
robin because it's exclusive.
You can decide on your team where it goes.
Let's say Jay has a hundred agent team and he wants it to ring
all a hundred agents and press one to accept, or if he wants to
round robin it, we can do that.
We can basically fit the ISA to however the agent wants.
Got it.
I'm sure that that's, that was a learning process because some
agents have really good dialed in systems and processes and
others, maybe not as well as much.
So it's cool that that's flexible.
We beg people every day to answer the phones.
Every.
You would think it would not be a problem.
However, it, uh, it still is.
So, so Lance, I'm just kind of curious, you know, just from a,
from a, from a data standpoint, you said, you know, about
50000 opportunities a month.
You've been at it for You know, five years kind of is,
are you seeing steady growth?
Has it been a decline in search?
Just kind of went from a, from a month over month perspective,
just kind of, uh, activity and engagement and, and, you know,
real demand in the marketplace.
So we've seen steady growth always just because we keep indexing
more pages and growing as a whole and the more engagement
we get, the better we do.
Um, the one thing we've really seen is people looking at home
valuations, more, um, people asking for cash offers a little bit more,
um, we've really tried to pivot to that kind of like seller, seller
model and, you know, with, with, you see, we used to be really
about find a home, find a loan.
Now, we're really by come see where your home is worth.
And, you know, we really try to go seller focus.
We used to be about 80, 20, 80 percent buyers, 20 percent sellers.
We're trying to be now probably about 30 percent sellers and
then just going up from there.
I love that.
What, so where are you seeing them?
So you're saying on the kind of the motivated seller, the more of the
cash offer is, is kind of the offer that's starting to resonate a little
bit more with, uh, in the market.
Yeah.
Everybody wants a number.
And if, if you know how to, you know, if you know how to work with a
wholesale lead or a cash offer lead or a flip and you're that agent that
understands it, you're going to make a lot of money on leads like this.
Yeah, we're starting to see, um, there's always been a gap
between, you know, your high producers and your low producers.
And I, you know, what I've been witnessing is that gap starting
to get bigger and bigger.
We have agents, uh, excuse me, we have teams and agents, uh,
mostly teams though, that are having their best year ever.
And then on the opposite spectrum, we have people dropping out.
Of the business.
And I mean, there's a lot that you can, you can attribute to that.
But I think that, um, you know, our, our model has been other than just,
you know, delivering the training and everyone's got training in
the snap, but it's that generating enough leads so that an agent
is able not to feel like they're on, on the income rollercoaster,
the real estate rollercoaster, one good month, one bad month.
And it, but I like about what you've said so far, you know, and look,
Zillow's a competitor of yours.
I, you know, they're, everyone's going after the same dollar
when it comes to lead gen.
Zillow's taking a huge chunk, what, 35, 40 percent percent, any
kind of percentage when you buy a zip code, a postal code, as you,
you put it, there's, there's no referral fee coming back to realty.
com.
Yeah.
So one, one, we don't take a referral fee.
That's the first thing.
And then two on top of that, we're a lower cost per lead.
So even if you have Zillow premier agent, and I actually
believe in Zillow, it's just really, really expensive.
Um, you know, we're, our average cost per lead realized is
somewhere between say 35 and 75 where there's, you know, I just
bid out Boca Raton Florida and it was a thousands of 1500 a lead,
but we have no referral fee.
And especially with our pro memberships at 25 a month and one 50
a month, imagine you get these frenzy leads, you close a couple of them
and you still have no referral fees.
We're the only product like this without any referral fees.
Yeah.
And I mean, I'll take that.
Yeah.
I mean, you know, a lot of a lot of people talk about quality, right?
One of the reasons I think people get on that.
Uh, that that Zillow, I'll say it crack rock, you know,
like, they, once they get on, they can't get off of because.
The, the, um, the impression is that, that, that they're a higher
quality of lead for whatever reason, maybe because there's
no opt in at the beginning.
They, they love the UI, the, the experience of them using the site.
Um, so they're warmed up and they become a higher quality lead.
Do you, is that what you're seeing on realty.
com?
I mean, what, what are you hearing about lead quality?
So, so this is what I'm going to tell anyone that's buying a lead
anywhere, but Zillow, you get a hundred leads from any portal.
That aren't a Zillow lead.
60 of them are complete garbage.
30 of them are two years out.
10 of them have some type of intent.
Out of those 10, if you close one of them, it has to pay your bill.
1% has to pay your bill, 2%, you're doing good.
3% you're great, and 4%, you know, 4% you love us.
So we have some agents that close at 1% and they're happy.
Because they use it for recruiting.
We have some agents that close at three to 5 percent
and they, it's amazing.
And then we have some agents that close at 0 percent because
they just don't follow up.
They don't do best practices and it's a grind.
Like if you're paying a thousand dollars or 1, lead, like you said,
the Zillow crack, you're taking a lot of risks there because if
you go on vacation, if there's a storm, if anything happens, you
could be 20, 30, 000 in the where with this, if you're paying, you
know, 75 bucks a lead or less.
You've got a little bit more runway, but you've got a lot more that
you've got to grind out, so you've got to be willing to grind it out.
And if you're willing to grind it out, you're
going to build a pipeline.
You're going to build rapport with people.
You're going to build for your future.
You're going to have cash offer and seller leads coming in.
But the biggest thing is, is you've got to be willing to do the work.
If you're not willing to do the work, it's not worth
buying a product like this.
Like we have agents that win and we have agents that lose.
And then each lead you got to realize.
Is an individual person.
You're not buying an item, you're buying contact information with a
person, and you never know where that person is in their life.
You never know what's going on, and that's one of the biggest
things is that you can have one city where you get a hundred
leads and 20 of them are amazing.
You can get one city where you get a hundred leads and one of
them's great because you don't know what's going on with any
of those individual lives.
Lance, is there something within the portal where you guys are
helping kind of nurture those, those 30 that are 2 years out?
I mean, you know, I mean, we're, I mean, I can, I can give you a 1.
8 million dollar lesson.
We learned in 2016, just from the lack of follow up.
And so, you know.
As from a portal perspective, are you guys, you know, doing anything
to help help these agents be able to kind of nurture and make sure
that, uh, notoriously not letting everything fall through the cracks.
Yeah, we continue to ISA the leads for up to 2 years.
I see leads for 2021, even being live transcripts agents.
We kind of say some of the nurturing supposed to be on you guys because
most of you guys have viable.
Um, or you have, uh, or you have lofty and you have some
type of nurturing process.
We do coach for best CRM practices.
So we'll go and do a one on one session with you.
And if you want to city with us and basically go into your CRM and
look at your automations and see, see what you've got going on there.
And then we do group coaching to which, you know,
is also best practices.
We do lofty and KB core and FUB and, um, and all the, and
Boomtown and a few of the others.
But we continue calling that lead for at least two years.
Usually it is, is the best practice that you see.
It's like, I always think about, you know, and John, you, you know,
as we did this, when we started the brokerage in Dallas, you're
like, you know, there's the contact rate and, and I spoke to speak to
somebody and you determine timing and motivation, and then you've got them
in a bucket that you're following up with and, you know, our best
practice, I think was half the time or whatever, um, you know, From what
they said that they were going to do.
Um, then, you know, what, I mean, what are you, what are
you seeing that that's, that's working the best to, to bubble up
opportunities to have a spoke to, to engage them in these campaigns?
Cause obviously everybody has a different tool.
It's all doing the same things, plus or minus 10 percent in terms
of trying to create engagement.
What, what have you seen that's.
Working the best in terms of best practices for bubbling up someone
who you've never had a conversation with that became a lead, say a year
ago or six months ago or whatever.
Uh, on the sellers, it's uh, we have an incident
offer already on your home.
Um, right.
Remember giving 'em something material, getting in front
of them, getting to the home.
Can I stop over and present it to you?
On the buyers, it's just saying, Hey, I could show you some off market
listings in the area, especially exp.
I know you guys have the private marketplace now.
Um, for listings, it's trying to give them something that
they can't go see themselves.
Gotcha.
That's gold right there.
Yeah.
Yeah, that's, um, I think when, you know, we had, uh, we had Ryan young
on a month or so ago, and I think that's where he was talking to.
Right.
Is that really what they can't find any other portal any other sites.
It's, um, it's about, you know.
What do you have that I can't find on my own, uh, from,
from a buyer's research and perspective, um, being able to,
to kind of put that out there.
So no, that, that, that's really, really good.
And I think, you know, you guys being able to offer the constant nurturing,
just because, you know, I can see a lot of agents, even on the, on the
lower end, even, even with us, right.
I mean, we took every, We tried every precaution, but we still
had holes in the bucket where things were falling through.
So if you're able to help bubble up those opportunities, man, you
talk about, um, what a, what a game changer on, you know, having
that as part of your business.
Well, the most important thing really is, um, is, you know, for
the pro members now, the ones that are, you know, 25 a month
is that you can sign up with us, create your profile today.
You go to realty.
com forward slash pro, and then you can upload your entire database and
we'll start nurturing it for free.
No extra charge.
That's awesome.
Good sellers.
You upload all your sellers and we'll send them all home evaluations,
market reports, all that stuff.
No additional charge.
No brainer.
Love it.
Well, Lance, I really appreciate you coming on.
Um, the truth is that, that, that it's the number one problem
that agents are going to have, you know, I mean, everyone can
really learn with a little bit of effort and half a brain, how
to present, talk to, uh, clients, show a house, even list a house.
But the elusive, uh, part of this business seems to
be the marketing piece.
Uh, we love it.
We've been studying it for decades, but, um, it's not what's
taught in real estate school.
No one knows it.
In fact, most of the people, I mean, John, Jay, we see it all
the time, new agents coming in.
They're just lost.
They're like, where do I start?
I mean, they're giving us CRM, but you got to feed the CRM.
It doesn't just feed itself.
So, um, yeah, I love it.
Um, awesome.
You guys have been such an awesome supporter of our top teams at eXp.
And we love that you're a partner of ours and, uh, can't,
can't wait to see what we're going to do in the future.
Cool.
Thanks.
I appreciate it.
And also fortunes in the follow up.
We all know that so people can buy leads and, and yeah, one
of the key questions I ask when I'm onboarding a new customer Is
who you use for lead generation.
If they say Zillow and I'm like, how'd you do on Zillow?
But it was horrible.
They were the worst leads ever.
Um, I sometimes tell them you're probably not a good
fit for us because if you failed miserably at Zillow,
you probably didn't follow up.
You probably didn't follow processes.
You probably don't know how to do lead gen.
We'd be happy to coach you, but you really got to understand that
you've got to follow up with leads.
You've got to bring people down the phone.
Love it.
You EXP con?
Yep.
I will.
You've got two booths, EXP con and I will be on stage, um,
Monday and Tuesday, I believe.
But will you be at Flo Rida on Monday night?
I will clap.
Yes.
Mr.
Whistle, baby.
I'm excited for Miami.
Can't wait to see you, Lance.
Yep.
So I can't wait to see you guys too.
Thanks for having me.
Realty.
com for anyone that wants to find their profile.
We've created
So you've already got your profile ready to go.
Love that.
All right.
We'll see you in Miami.
We'll see you at the top.
Everybody.
Appreciate you.
See it.
Thanks for tuning in.
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