 Today, I want to tell you why I leave conversion as a myth and I want to give you two things you really need to be thinking about when you're trying to convert lead. What's up, everybody? Ricky Krooth here. Welcome back to my channel for your new year. Welcome to the family. Shoot me a comment below. Introduce yourself and let us know what's going on with you, if there's any questions that we can answer. If there's anything in the world we can do for you. I'm a full-time real estate agent and founder of zerodiamond.com, the fastest growing real estate coaching program in the world and I'm just here to help the industry reduce that crazy high-failure rate one agent at a time. Today we're talking about lead conversion and why I think it's a myth. So I had a chapter in my first book called lead conversion as a myth where it kind of went into this subject a little bit. Here's my thoughts on rationale behind it. I think a lot of programs and a lot of real estate training out there really try to get you to go deep with the conversion. They really try to get you to pound each prospect, contact them so many times and really just go, go, go after them to try to make that conversion happen. And I think that this is not necessarily the right way to handle every single prospect. It might be good for some prospects but not for every prospect. I'm not real fond of how most training puts us agents in a box where everybody follows up with every prospect the same exact way. That's just impossible because every prospect has a different situation. So I mean the first thing behind conversion is finding out why they're trying to do what they're trying to do and really go deep with that to really figure out how we need to follow up with each prospect. But I'll touch on that in another video. Right now I want to talk about conversion rates and how we can close more deals because that's what this is all about, right? Helping more people buy and sell property which equals more closed deals for us. So if you have two prospects or three or four or even five prospects and you're really trying to convert them hard, you're really trying to go and contact them every day and really trying to do everything you can do to stay in touch and push them to make that contract or see this property or sign that listing or whatever the case may be. And you're really putting a lot of forth, a lot of time and energy into those few prospects. Okay? Two, three, four, five prospects is a few amount. It's very little. Two, three, four, five prospects is not a lot of prospects to be working with. A lot of agents get to this level and then they stop going after new prospects and they just focus on these few prospects that they have. What happens is this, out of these few prospects that you have, if you really pound them, maybe you get a little bit higher conversion rate than you would if you didn't pound them so hard. Okay? Maybe. But if you think about and figure into the equation, it's time spent and where's our time best spent and what's most efficient. Okay? And even if you pound these prospects into the ground, it's still going to be a crazy low conversion rate. Okay? Let's say the conversion rate is two, three percent. Okay? Something like that out of all the prospects that you have. Okay? If you didn't spend so much time trying to convert these prospects, okay, you touched them and you continued following up with them according to their specific situations, right, which may mean pounding them every day or it may mean trying to get in touch with them once a week or once every other few days or maybe in a month or two. Okay? It depends on their situation and how deep you go with those relationships and how much information they give you about what they're really trying to do, which by the way is the key to real estate in general. But if you spent that time that you would have been trying to convert those and go after new business, okay, now we turn these five prospects into, let's say, 20 or 30 prospects in the same amount of time because we only have so much energy up here to spend on certain activities. And if we spend a lot of our energy on creating new business and just a little bit on following up and making sure everything is, you know, we're stirring the pot with the people that we've talked to to try to find those conversions, okay, now we may bring that two or three or four percent down to one or two percent, right, it may not be as high of a conversion rate, maybe, maybe not, okay, but we've got to have volume. At some point in the game, you have to have volume, okay, you can't just go after one or two or three clients and that's it or even 10 or even 20, okay, we need 50, we need 100, we need 200, okay, we need a volume of clients who we're spreading our message to, who we're getting to know us, we're getting to know them, we're finding out what they need and we're helping them accomplish those life goals with the real estate buying and selling. So if you take those five leads, you're really trying to convert those, okay, in one scenario, maybe you have a slightly higher conversion rate, still really low, but if you spend less brain energy and time and effort on those, you're still taking care of them, but you focus on more, more business, more volume, more prospects, more relationships, more creating and maintaining, getting to know people, right, now we have a huge volume of people and our percentage is still going to be low, but we're going to have more deals out of that scenario. So we spend the same time when we get 20 or 30 or 40 more prospects because we are focusing on, let's go get some more business, our conversion rate's not going to be much different, but we have a lot more people in the pipeline, so our closings are going to be higher, the amount of closings that we have. Now I'm fixing to tell you the two things that I want you to really think about when you're trying to convert prospects, okay, before we get into it, please do me a favor, hit that like button, shoot me a comment below, let me know what you think, it doesn't matter if you just say nice video or thanks for sharing Rick, or whatever the case may be, every little bit counts. The first thing I want you to get is I want you to connect first, then convert, okay, connect first, then convert. I want you to connect with your clients, I want you to go deep with the relationship, I want you to find out why they're buying or selling, I want you to figure out what you, what you relate to them with, okay, is there something that you guys have in common, okay, if nothing else you're both enjoying the day, like find a common ground and really connect with people, take the transaction, take the closing, take the listing, take the buyer agency agreement, take the purchase agreement, take the everything out of the equation and let's just focus on people, let's just talk to people, see what we can do to get to know them, right, and help them and figure out what it is that they're really trying to do so that we can do our job better when we know what they want out of the deal, what they're really trying to do, their mom died, kids went to college, whatever the case may be, we can really go deeper with helping them and when we go that deep with helping people, guess what happens? You get their business for the rest of their life, you get all their friends and family, you get all the referrals, everything, repeat business, referrals and referrals over referrals. This is where you see 10 to 20 deals over the life of your career from every single prospect. The second thing I want you to get out of this is that by spending so much time trying to convert just a few clients, you're doing your future clients that you haven't talked to yet a disservice, okay, because you're spending time on these clients trying to convert every lead when there's so many more people that need your help but you're not even giving them any attention, you're not even trying to talk to them, you're not even trying to find those people because you're so busy right here trying to convert every lead and you're doing them a disservice because they need your help. They're sitting there right now waiting on you to call, waiting on that email, waiting on that Facebook ad, however you create business, they're waiting to see you, to hear your message, to get to know you and to tell you what they need and how you can help them. So don't do your future clients a disservice by spending so much time trying to convert every single lead, right? Do what you need to do to keep those relationships intact, figure out what the follow up process needs to be with each and every lead and follow it to a T but don't let that take up all of your energy, all of your time, okay, all of your mental capacity, okay, this is how you multiply your business, this is how you go from 10 deals to 50 deals, okay, by multiplying your time, time blocking, figuring out what works and what doesn't work, balancing those current clients, new clients and old clients, I talk about it all the time, balancing out your new and old clients is the key to exponential growth. So I hope you guys got a lot out of this video, let me know if there's anything in the world I can do for you, talk to you soon.