What do you think the future of real estate teams will look like?
It's no surprise that all the top teams right now are all Zillow Flex teams. It's the easiest way to supercharge a team's growth.
But there is a big problem with referral partnerships, and I think there is a new chapter coming for teams.
Fast Value: When you’re marketing for deals for your team, there is one number that matters more than any others. It’s the cost to acquire a customer (CAC). If you can find a lead source where your CAC is lower than your Gross Profit, you should be dumping resources into it.
I'm talking about content.
For the last few years, I've been dipping my toe in the content game. Now I can say that I'm amazed at the impact it's made on my business.
So here is my experience so far and my thoughts for the future.
I've watched several of the "influencer" agents go from high-producing solo agents to building real teams.
At first, I didn't think too much about it at all. It's just a different lead source. They're good at content, we're good at paid ads... no big deal.
But... over the last 2 years, we have seen a massive increase in conversion because of our content. We're converting leads at a higher rate from our content, AND our content is starting to get new leads.
It's made the biggest impact with recruiting. My "agent-facing" content is selling recruits before we ever talk to them.
But it does the same thing with consumers.
So about 60 days ago, we decided to take almost all our marketing resources and go all in on social content for lead gen.
We took what we already know works from our YouTube channel that we've been doing for the last 2 years and started a new IG and TikTok channel.
Outcome so far...
I'm investing about $10k a month (mostly on payroll and contractors). We're following a proven process from other agents who already generate 100's of leads per month.
Being about 2 months in, we had a combined 1.6 million views between IG and TikTok in the last 28 days.
That is WILD.
I've tried a ton of different marketing strategies trying to find a profitable and scalable lead source. I can confidently say that this is going to PRINT money.
Just because the leads are organic doesn't mean they're free. I'm paying a lot of payroll toward this lead source. But I know a ton of team leaders that will throw $10k a month at buying leads that might convert...
... but the idea of building out a media team that will print money is somehow terrifying.
I get it. I thought the same way, honestly still kind of do.
We're doing it and look at each other and be like... "is it really this easy?"
And the answer is, yes.
Because we're following a proven process.
We're doing HUGE amounts of volume (21+ posts per week).
And we're sticking to the plan until we hit the same level of success as the person we're copy the playbook from. (shoutout to Robert)
I'll keep you updated, but once we get this lead source cranking, it's going to seriously change how we do business.