In the following interview, Manny Gutierrez, broker/owner of Prime Real Estate of Florida, discusses converting high-end leads into closed transactions, working to close $1 million each week.
Region Served: South Florida, including Palm Beach, Broward and Miami-Dade Counties
Years in Real Estate: 14+
Number of Offices: 1
Number of Agents: 3
Average Time on Market: 45 days
Average Sales Price:$1.1 million
How are you currently sourcing new prospects?
We’re listing brokers by nature, so farming communities by all forms of media is a must for our brand. But, as technology has leveled the playing field and buyers have become more sophisticated in their home search, we’ve noticed an influx of potential new homeowners that cannot be ignored. Over the past few years, we’ve added a significant amount of our marketing dollars to capture these buyers. From social media platforms, e-campaigns, keyword websites, zip code leads from the big three (realtor.com®/Zillow/Trulia) and hiring ISAs (Inside Sales Agents) to nurture and convert these leads, we’re closing more buyers now than ever before.
Are the clients you meet online qualifying?
I would say we stand at a 50/50 qualifying rate. That being said, we do a great job of asking qualifying questions to our online customers. These include: Are they cash? Are they getting a mortgage? If so, do they have a pre-approval? If not, do they need a referral to our preferred lender? Do they need to sell their home first? If so, have they listed their home, and is it under contract? If not, would they like us to provide them with a free home analysis and discuss having us list their home? And, most importantly, what are their must-haves? We want to make sure they’re only seeing homes that fit their criteria.
How many of these leads convert, and how do you keep track of your success rate?
Our conversation rate last year was 1.35 percent. While we’re currently at 1.5 percent, we plan to be at 2 percent by year’s end.
Have you noticed that the leads are further along or of better quality among the lead sources you’re utilizing?
By far, realtor.com leads have the highest conversion rate. These buyers are ready to act and take less incubation time. We’ve tested all avenues, and the customer information that comes from realtor.com is the most reliable.
On average, how many online inquiries are you fielding each week, and how do you keep up with these incoming leads?
We’re fielding 135 online inquiries each week, and keeping up with them begins with leveraging technology and systems. We utilize software to respond to the inquiry, collect and house their information, follow-up through e-campaigns and directly contact them through our ISAs.
Do you find online leads to be cost-effective? Do you get a good rate of return on what you spend?
Yes, my rate of return is very good. By having my ISAs and transaction coordinator around me and my sales agents, we’re able to close more transactions while promoting our brand.
How do you work to develop the leads that don’t convert?
This is done by constant follow-up via phone calls, email drip campaigns and auto subscriptions of properties that fit their criteria.
You represent areas that include gated/membership communities, which are described as specialty markets. Do these markets require a specialized form of marketing to attract buyers?
In South Florida, we have a lot of country club communities. When marketing these communities, it needs to be stated upfront that these communities come with mandatory membership.
When you’re presenting your marketing plan to a seller, how do you differentiate yourself?
We differentiate our brand by building a complete roadmap and devising the right marketing plan to help the seller achieve their specific goals. Whether it be a conventional method, auction method, or accelerated method, we’ll sell their asset for the most amount of money in the least amount of time.
Do you have expanded services for the very high-end properties you represent?
Yes, we use all forms of media to market the property, and our brand is built with a concierge mindset. We have the ability to go as far as the project demands in order to consummate the sale.
What’s next on the horizon in terms of growth?
Our plan is to expand the team with more agents, ISAs, marketing assistants and transaction coordinators. Our objective is to close $1 million in transactions a week.
What’s your favorite part about working in the real estate industry?
The people. As no two transactions are the same, the same goes for the people we serve. The interaction that our firm experiences on a daily basis is what keeps us going. Our mission is to provide exceptional customer service while exceeding expectations, and, more importantly, it’s about building lifelong relationships with the people we serve.
For more information, please visit www.marketing.realtor.com.
Zoe Eisenberg is RISMedia’s senior content editor. Email her your real estate news ideas at zoe@rismedia.com.
For the latest real estate news and trends, bookmark RISMedia.com.
