What is a nurture? A nurture is a potential seller who has passed the following five criteria. First there has to be a solid and identifiable motivation to move. Second, a clear time frame to list within the next 12 months. Following that is an established opportunity for you, meaning they do not have an agent that they are already committed to working exclusively with to sell their home and are open to meeting a new agent. Fourth, we establish clear and valid contact information for your follow up. Fifth and final is that the seller has provided our sales team with a clear follow up time.
How do you represent me when you call? Our Phone Animals convey that they work for a group of elite local agents in the area. (ELA’s) A potential home seller always wants to work with the best agents or the ones that fit their personalities best. Our Phone Animals set the homeowner up to potentially expect 3 elite local agents that would give them a call.
Is there an agent referral fee involved when I close a deal? There are no backend fees with any nurtures you get from Phone Animal
Am I guaranteed a certain amount of nurtures? Leads will vary from market to market. They also differ based on the type of data you provide. Agent 1 could provide us with Circle Prospecting data that yields a 10% contact rate from areas with a 6% turnover rate while agent 2 could provide us with Expireds, FSBO, Buyer leads etc. Both agents will see a different amount of nurtures. Before launching, our implementation specialist will go over different types of data sources, your turnover rates and give you an expectation of how many leads you will be seeing each month.
What data do the ISA’s call? Our in-house data specialist is constantly monitoring contact rates and turnover rates of the data to ensure we get the best results. They are primarily circle prospecting.
How do you choose where to call in my market? Our in house data specialist analyses turnover rates of the area as well as price points and demographics to best determine where we will be calling in an area.
What should my Return on Investment be? The purpose of Phone Animal is to build a pipeline to take consistent listings over the course of a year. The bigger the pipleine you build, the better the results. Over the course of the last 18 months we have collected data to see how many of our nurtures have turned into listings. Out of 5,000 nurtures, In 1-3 months 2% of those became listings. In 4-6 months about 6.5%. 7-9 months 7.5% 10-12 month 10.5% 13-15 months 16.25% and 16-18 months 25% Our goal is for you to have a 10x return on your investment. This return is built over time and built with follow up.
How soon can I expect to take a listing? Many of our agents have taken listings within days of nurture delivery. However, this is not the norm. Because we are cold calling, we are identifying sellers usually before they have spoken with anyone about their plans to sell. This positions you to have the best chance to earn their business, and also means there is a time gap before meeting.
How should I follow up with these nurtures? All of our nurtures have a given follow up date listed. We highly recommend following up with these potential sellers on their given follow up date. The seller has just talked to someone and given them specific instructions on when they want a call back. We do recommend putting their email on a drip campaign and/or sending them direct mail with content about your team, a just listed property or just sold property.
Am I guaranteed a certain amount of nurtures? If you have subscribed to the Standard single and exclusive you get an Estimated 10 Nurtures/mo the standard double you get an estimated 20 per month and the standard triple you get 30 per month. We source these nurtures by circle prospecting. Turnover rates and contact rates effect the amount of leads we produce per market. We have a full time recruiter, accountability team leaders as well as dedicated trainers to make sure our ISA’s are trained, held accountable to results as well as producing at high levels.
Will quantity of nurtures vary by market? Yes, that the quantity of nurtures may vary. In higher price point areas with lower turnover, you may get fewer nurtures, but the ROI remains constant or may even go up due to the bigger payoff of those price points. Alternatively, you may be in a lower price point market that receives more leads since it takes more transactions to hit the same ROI.
Does every nurture I receive hit every criteria point required for a nurture? Because our leads are not forced registration leads where potential homeowners put in their information online, sometime we do not hit all 5 criteria points, this does not mean the nurture is bad. For example, as the OSA is talking to a prospective seller, the seller says, “I need to sell now because I am being relocated. I am not working with a realtor and I would love to meet. I cant talk anymore though, I am running to a meeting.” In this case, we did not get timeframe of the move. We would still make this nurture available to you as we have determined this to an opportunity to take a listing.