CINC's 1st Client Details His Journey with Online Real Estate Lead Gen

Transcript

Aaron Kinn: [00:00:00] One lead came in from California, and she was $549,000 was her... What she wanted to be in. Her lead average price point, whatever. As we started talking to her, that doesn't exist here what you're wanting for $540,000, even though the area she's looking at in Fort Worth is very low price compared to where she lived in California. What she wanted just didn't exist for that price point. She ended up buying a $1.6 million house, so quite a difference from the average price she came in on to the one she ended up buying. That was great.

{intro}

I used to be a high school teacher and coach way back when. And then that's when I got out of college in '98. So I did that for four years. And the last year of that I got my real estate license. I bought a house and my realtor made more in an hour than I made in a month. So I was like, okay, I'm going to try this out. [00:01:00] And I got my real estate license and technology was always a big driver. When I got in, I was fairly young and 24 years old.

And there wasn't a whole lot of technology going on. Our MLS was DOS based system. So I knew enough technology to be dangerous. And I was able to figure out one of my friends designed a program for me to send out listings through that MLS system. So I was one of the only ones that could do it. And that really ramped me up pretty fast in real estate.

So this is my 22nd year as of September 1st. Been doing this a while. I was client number 1 with CINC. I was in part of the design phase team on the whiteboard. What did we want out of the system? What do we want the name to be? All of that stuff. 

Jennifer O'Connell: Where are you based right now? What market are you in? 

Aaron Kinn: I'm in the Dallas Fort Worth Metroplex. Yeah, I've been here the whole time I've been selling real estate. 22 years. 

Jennifer O'Connell: [00:02:00] Can you give us an idea of your team size and transaction volume, annual production...

Aaron Kinn: Yes. So I've been every level of team out there basically, I've had as many as 15 agents on my team. Right now it's my wife and I, and we have 3 other agents that are buyers agents on our team. And then, of course, admin staff to fulfill those. We typically close over 100 transactions a year, which is around $30 to $40 million in volume.

Jennifer O'Connell: There wasn't much that you were doing for lead gen before you were with CINC? That was from the beginning? 

Aaron Kinn: Yeah I started with doing some kind of digital marketing right when I started real estate. We tried, and I won't mention the names, but we tried other of the competitors. And what the common denominator was they were fairly decent at generating leads, but they were very bad at listening to realtors' input on how we wanted the system to work for our needs, but they designed [00:03:00] it from a technology person's needs and perspective and not a realtor's needs and perspective. So they wouldn't change some things that were really important. When coming up with kind of the CINC model, there was, I think, 15 or 20 of us that kind of brainstormed on what we wanted it to do.

Jennifer O'Connell: So how has CINC really helped your business since then? 

Aaron Kinn: Everything I run through my CINC platform. So one of the main things was having everything dump into one place. So if I'm getting leads from CINC, they're going into CINC, but I'm getting leads from whatever source it is. They're coming into that one system.

Prior to that, I had to be in four or five different systems to manage the leads I was getting there, there was no way to filter them into one. That was the biggest step. And then they've throughout time improved the CRM qualities, the ability to get texts. Like we do text riders on our signs. We probably get I don't know, 8 to 10 [00:04:00] text messages a week. And those are people sitting right out in front of the sign. So it's a better than a sign call because now we've got their cell phone number. They're sitting there, we know they're reviewing the material, and we can start talking to them about the tour they're looking at, registering for the Etta app. All those things that tie them right back and get them more active in our site. 

Jennifer O'Connell: All right, so being a client for so long, I'm sure you have a wealth of good stories, but we're wondering if you could share one of your most memorable moments with us. So that can be highest price point or resurrecting an inactive lead or like a brand new lead coming in that you didn't have to do anything with. Do you have a couple of those that you don't mind sharing? 

Aaron Kinn: Yeah I've had all of those happen, honestly. A couple of them, I guess just off the top of my head, is one lead came in from California, and she was $549,000 was her... What she wanted to be in. Her lead average [00:05:00] price point, whatever. As we started talking to her, that doesn't exist here what you're wanting for $540,000, even though the area she's looking at in Fort Worth is very low price compared to where she lived in California. What she wanted just didn't exist for that price point. She ended up buying a $1.6 million house, so quite a difference from the average price she came in on to the one she ended up buying. That was a great.

As far as time we had a lead that closed, I think they were on the site over eight years before they finally interacted and bought a house. So it's pretty cool. 

Jennifer O'Connell: And you just had them set up on autotracks or? 

Aaron Kinn: They were so deep buried in our system because they'd been on so long, but they were getting the emails still. That was way before autotracks even existed. Those were just regular plans and sending them homes that they may be interested in. And every once in a while they would pop up [00:06:00] on the I just came to your site kind of thing after a certain period of time so we'd reach out. "Oh, no, we're not looking. Oh, no.."; For years and literally bought eight years later. 

Jennifer O'Connell: So you said auto tracks wasn't even a thing. What has been the best CINC improvement that you've seen in all your years using the CINC platform? Most beneficial to your team? 

Aaron Kinn: The biggest thing for us was focused on the CRM and making the CRM better from the real estate side of things so we could operate in that. That was the number 1 thing. Now, follow up plans and all that, yeah, they've improved over time, but a drip is a drip. It's always better to have them on the phone. For us, it's more of the CRM side of things. 

Jennifer O'Connell: On the lead side can you maybe speak to how your lead flow or the quality of lead has been with CINC? Maybe how it's changed? How it's improved?

Aaron Kinn: I [00:07:00] don't use any other kind of IDX system and I haven't since 2011. Now there's a million different companies doing IDX search and marketing, so it's not necessarily the quality of the lead as it is the quality of the follow up. 

Jennifer O'Connell: So that's a perfect segue. Obviously, following up with online leads is totally different than sphere and referral business. Can you share maybe how your team uses CINC to prioritize those calls or maybe what talk tracks work better for an online lead versus a sphere lead?

Aaron Kinn: Yeah, so for us, it's all about helping their process be easier, right? So most of the people that come on our site are also looking on Zillow and Realtor.com and Trulia and probably 20 other sites out there, and we know that. So we want them to have the easiest way to get what they want through us. So that's, basically, [00:08:00] we're not trying to set up an appointment with the 1st person that comes on because likelihood they're way early in the process so we do get those that close within a few weeks or a few months that closed down to an appointment and then get into home pretty fast, but we know that just from talking with them. But if you try to set an appointment with somebody that's a year or more out, they're going to turn you off. They're going to unsubscribe, all of that. So our whole talk track is making them more comfortable on our system and letting them know that it's okay to be on there and just browse and look at homes. And we're going to be able to help to facilitate that part of things without selling them. 

And then if we can't get them our biggest thing is we've gone to a lot more videos. So the lead comes on. We're going to video message them right from our cell phone through a text message. Everybody looks at the videos. Like rarely do people not look at a text message when [00:09:00] there's a video to them.

Jennifer O'Connell: So then going back, how do you use CINC to manage your team? 

Aaron Kinn: Yeah, so we utilize a pond system. That's probably the best thing is they can go in and pick leads out as they need it. We've also had an ISA. We haven't had an ISA for about a year, but we did have an ISA as well. They also just were in the pond. So when new leads come in, everybody gets them and whoever gets to them 1st, they can claim that lead, but they can only claim a certain number of leads or people to work with. In their specific pipeline, because if they just start rat-holing people, what happens is they end up losing touch with a lot of those.

Jennifer O'Connell: So does CINC help with accountability and training for new agents that you bring on?

Aaron Kinn: We send them to the CINC University. So we require that because it's important that they know follow up scripts [00:10:00] and tactics and just utilizing the system in general because when you just jump in there and you've never used it, it's like, Oh, what am I looking at? And where do I go? And what do I do? And that course teaches them the ins and outs of the system, plus how to talk with the leads that are in there.

Richard Kaiser: One of the things we get feedback on a decent amount is Hey, it's one thing for me when in my individual production or me as a single agent, like I could figure out the technology, and I could figure out what to say to them. The challenge that I might have is, okay, I got to hire somebody. Get them pipeline, get them up to speed, and then they got to convert that. There's a new set of challenges with that versus you as an individual just figuring that out. Can you speak to how CINC has helped with some of that and like what for you, any thing extra you do that you found has worked well?[00:11:00] 

Aaron Kinn: I think It helps soften the blow because most agents when they're joining a team or when they're getting into real estate, the number one thing they do not know how to do is create business for themselves. They do not know how to create leads. What do we have? We have leads. Now, we don't want them practicing on those that are hot or new.

So what we start them doing is calling from the back, forward so we'll take leads that haven't been on the system for 45, 60 days, whatever. Practice on those people that are inactive in our system and try to reengage them. And if you get told off, it was a lead that was gone anyways. But you could very well sell business from it. We don't want them to practice on people that are possible commission checks until they're ready.

Richard Kaiser: And then I think one of the things you mentioned your story about California where the person went from half a million up to a million and a half. That was amazing. [00:12:00] We know right. Texas has been one of the markets in the past few years that is seen migration inflow from other markets. Being in Dallas, can you speak to maybe how that market's changed or how you've been able to benefit from people moving from further away into Dallas? 

Aaron Kinn: We sell more homes now than ever, probably the last even right before COVID, but COVID on, we've sold more homes virtually than ever where the client never comes and looks at the house. We just closed 1 two weeks ago. We go show the homes through FaceTime, or if FaceTime isn't working, we take short little videos under a minute. So they're easy to text out and narrate that video. Or if it needs to be a longer one, we'll narrate the longer video, upload it to YouTube and then share it to them privately.

And then that's a great way for us to, [00:13:00] 1 get through homes faster because there's no one there to show. So I can just go through a million homes much faster than someone who wanted to open every drawer and things like that. So 1, it's made it easier. There is a lot more virtual stuff done and we just make sure we provide all the information they need virtually through technology. So that's an awesome way. And we've done that multiple times a year, so. 

And then on the seller side, we've done Matterport 3d tours for nine plus years. So we always utilize those tours to send to prospective buyers, especially out of state buyers, because they work so exceptionally well. You can tour the home like you're in it. 

Richard Kaiser: So the quality of the leads coming in, we do believe is important, but the technology is never going to replicate that one to one relationship, right? Even in that case where you're sending the tour, it's still, you being able to talk and you being the person there. I find [00:14:00] y'all's talk track really interesting, but you're not just sending that off to technology to solve, like you're doing that with the call. With that being said, you were talking about the virtual tours utilizing technology. There are smart ways you can utilize the technology. So I'm curious with the CINC platform, any best practices you found with property alerts, utilizing the AI tool, behavioral messaging.

Aaron Kinn: All of those.

Yeah, we utilize AI (Alex). And then we use the behavioral messaging as well, simply because it's important. One, it keeps us on top of people when they come in, too. And maybe we have lost touch with or our systems didn't work correctly and we didn't get them, but AI picked up the slack and got them. So it's just another layer of someone that can start that conversation for us. And then that conversation, like I said, it's very easy going. It's no pressure, [00:15:00] low pressure as far as talking to them about the site, what they're doing. They honestly don't remember our site at all when we start talking because they've been on 20 of them. They're looking for the best deal; everyone is. So they don't remember my site. So you have to retrain them and hey, it's the home search site. I don't say it's Dallashouse.net because they don't remember Dallashouse.net. Dallashouse.net unfortunately is not Zillow. They don't remember anything but Zillow. So you have to train them on the benefits of why this is important to look here versus Zillow. And then once they start creating more and more of an interest, then we want to do a one on one Zoom call if they're out of state or personal, and do a full buyer presentation. We do a buyer presentation with everybody before we go out and show them homes just so we can best learn their wants, needs and their [00:16:00] ability to purchase as well. And we'll know the best way to work with them. 

So that takes anywhere from 20 minutes to an hour, depending on how talkative they are. If it's an hour, 45 to 50 minutes of that time is all them talking only five or 10 minutes is me going over how good we are and why they should use us vs. anybody else. And we do that at the end. So we've spent all this time up front with them. No one else has done that. They've asked them about, "Oh, have you been pre qualified for a mortgage? When are you looking to buy?" Like they're asking all these hardcore pressure questions and it's doing the opposite. It's turning them off. 

We want to talk to them specifically on the home they want. Tell me what your dream home looks like. How many bedrooms does it have? How many bathrooms? Where's it located? All of that stuff. It's all about them and their needs for the majority of the meeting. And then we turn it into here's how we can help facilitate that. We're very good at it. And here's some of the [00:17:00] guarantees and benefits you get by working with us versus somebody else. 

Richard Kaiser: Do you make the ask of a buyer brokerage agreement at the end? 

Aaron Kinn: 100%. Yep. And they sign 100 percent of the time so. 

Richard Kaiser: So that's been one of the, I think, a reoccurring conversation we've been having with people is okay, I get the appointment. And so maybe the market's changed a little bit with inventory and other things going where we are seeing some cases it maybe gets the sales cycle to actually get into closing goes out a little longer. How do you view positively or neutrally like a buyer brokerage agreement playing into that?

Aaron Kinn: I 100 percent think you have to have one. Any time I haven't is the times I've been burnt, like totally. And I tell it when I'm training agents because they kick against it, especially if they've been in the business for any period of time and they've never done one. They're like, "Oh, I don't need to do one. People like me. They trust me. They would never buy something [00:18:00] without me." And then they go and buy a for sale by owner or something. I always have it done and I don't do the traditional state form. 

I have a 8-page booklet, and we go through the booklet. And if it's on zoom, it's on in PDF. So we go through it like that. And then the last page is all about all the things we're promising them and that we're going to do for them. And the only thing we ask at the end is your commitment to us. And that's it. But you can hang up this phone and turn in this form and it's cancellation form and we're fired at any time. They never do, but it gives them that reassurance. 

But then when they sign it, now when they go into a new home build. Or they talk to that for sale by owner and they ask him, or they talk to another real estate agent in an open house. Are you working with an agent? Yeah. Did you sign a buyer agreement? Yes, we did. And they're honest, and we never get them turned away or somebody else stealing them away from us because they've [00:19:00] thought they've signed that state contract. They haven't, it's a contract between them and I, because it's not a promulgated form in Texas, the buyer representation agreement. So we can get them to sign our document.

Then at the time of offer, transfer them into the state agreement because the state agreement is like six pages of legal speak. I wouldn't sign that either if I wasn't ready to buy a house. But if I knew you're doing all these things for me because I gave you my commitment and I have nothing no reason not to sign it. I'm gonna sign it.

Richard Kaiser: That's really interesting. Yeah, that's 1 of the debates we've been hearing it, but it's good to hear firsthand. 

Aaron Kinn: And like I said, if I spent whether it's a half hour, an hour and 20 to 25 or 45 to 50 minutes is all about them. And then I turn back and, hey, can I have 5 more minutes just to go over what we do to that helps facilitate this and benefits you on the backside? We, like I said, have guarantees [00:20:00] and things like that in there that make it even more of a no brainer to sign the agreement.

Richard Kaiser: As a CINC 10 plus year veteran, what is the biggest mistake like early users or misconceptions out there when they first get in the platform.

Aaron Kinn: I think coming in with the expectation that you're going to close 20 deals out of those right away like that's not going to... They're internet leads, right? They're coming from Google or Facebook or any myriad of source. They're internet leads. Internet leads take longer to close. Just because people usually get on the Internet and start searching at homes and on these sites when they're just starting to make the decision or thinking about making the decision to move.

Typically, they don't find your site when they're like, I need to buy a home in 2 weeks or a month. That's not how it works. So if you're not going to establish your follow up patterns, you're not going to sell homes, period. [00:21:00] And I don't care if it's an internet lead or a sign call. You have to have good follow up or the leads will fall through the cracks and you'll say that it's bad leads. Yeah, there's some Barney Rubbles and things like that out there, but those exist everywhere so.

Jennifer O'Connell: If you want to let us know where people, how people can reach you, maybe the name of your site. 

Aaron Kinn: Sure. Yeah, so my site's Dallashouse.net.

Like I said, we were the first CINC site. Even though I don't, we do some work in Dallas, but most of my stuff's in Tarrant County in the Fort Worth side of the Metroplex. But Dallas house is such a good domain name that I couldn't give it up. So, we utilize that. You can reach me on my email, which is Aaron@kinnre.com or my cell phone, (817) 939-6584.