Everyone here at BoomTown loves to seek and share knowledge. And today we are doing just that in our inaugural BoomTownClosers Podcast. We have invited Tim Young from Fort Worth Texas Real Estate to share his knowledge and unique approach to his real estate business. In this episode, our host and BoomTown Community Manager, Mac Hill, will cover topics ranging from unique lead generation approaches to becoming a trusted local expert. A few quick highlights from our interview with Tim Young are listed below. Happy Listening!
“You can kind of not see the forest for the trees in this business. You can get so caught up in the newest technology, the newest team structure, the newest script and the newest this or that and forget that we’re people like everyone else. And when we need a professional of any type we don’t always call the person who is running over our credentials and their specifications. We call someone we like and we know. That’s my approach and the internet has really empowered that approach. In a way that a lot of us don’t quite realize yet. It’s allowed people to connect with us in a very genuine and truthful way and cut through the blur of mass marketing.” —Tim Young, Ft. Worth
How Do You Organize Your Team?
“I have about six agents in my brokerage and then I have about seven other agents who work for other brokerages. And to be on my lead distribution they agree to do a few things according to our standards and in return I provide them with the website and the BoomTown system. Initially, I give them all one lead a day. Whether they work for my brokerage or not they need to follow the parameters that we lay out for handling business.
The parameters are they come to a weekly meeting where we talk about best practices, what they succeeded at, what drip emails are working good for them, etc. And any success stories they have they share with the team so others can adopt their best practices. We also roll out new BoomTown features during that meeting so everyone knows what’s going on …” (5:20)
Creating A Trustworthy and Flexible Real Estate Team
“The nice thing about this [team structure] is that I don’t want my leads to be most of their business. All of our agents have their own spheres of influence and lead sources. They’re successful agents in their own right and they recognize the opportunity to use the BoomTown platform and website. They don’t have to be told how to convert an internet lead, these folks know how to do it.
[My team] really is a true team because when someone goes out of town there are other people on the team that will pick up the slack and they don’t want anything in return. They truly do take care of each other’s business when one is away or unavailable so that someone else will do that for them as well …” (7:00)
Turning Calling Customers Into Closing Clients
“My approach is, if I go out to meet 10 buyers, three of them may not even show up or call me back after I try to connect with them, but five or six may end up buying a house. I could get wrapped up in the three that didn’t call back or I could just move on and know that I have to go see all 10 people in order to close the six.
If something else works, more power to them, I have agents on my team who do buyer consultations in the office, but that’s just not the way I choose to do it …” (17:00)
What Technology is Critical to Your Real Estate Business?
“One of the things I use right now, that I won’t be using for long because BoomTown is coming out with the capability, is automatic text responders. FiveStreet has that capability. One function I use is to take all of my leads and funnel them through FiveStreet so they get an immediate text response that says ‘I’m available to show you a house, let me know your questions.’
That way I don’t have to jump on those leads. I do not call leads, I let the BoomTown system handle it. But what I’ve found is I can be sitting here painting and my phone dings and someone has responded to one of my texts. So at that point I reach back out to them. And I really like that, it enables me to spend time away from the phone.
The other thing we recently found that we’re excited about is RealtyJuggler. It’s a full featured powerful CRM that has the thoughtfulness and intuitiveness and it looks like something that y’all at BoomTown came up with. It works beautifully and it’s very affordable and I work all of my leads through that system. Very easy to implement little pieces of it or use the whole thing …” (18:15)
“The thing about technology to me and realtors, and I’ve done it myself so I can attest to it, is that we look at the new technologies and we’re constantly trying to gain the systems or advantage with the buyer, the client, and the seller. And if we look at all the technology that way I don’t think we’re as liable to put it to good use as when we look to it to solve specific needs that we have: time management, more efficient operations, quicker response. Use the technology to solve little pieces of your day, while still being a good realtor.”
How Have You Found Your Niche in the Real Estate Market?
“Well, I moved into a studio condo in 1930s historic train station in Downtown Fort Worth. I met the girl next door and we got married last December and we both loved the building and living downtown. We bought a condo on an upper floor with a beautiful view of Fort Worth. What we discovered while we were here is that there aren’t a lot of real estate agents living downtown. Downtown condos are hard inventory for agents to show because it is a specialized niche. I ended up realizing it could be an easy specialty for me.
I put together some WordPress sites that are basically landing pages for Downtown Fort Worth condos. When they come downtown and see a building they love and they search it they end up on one of my pages where they can find all the information they’re looking for from the HOA documents to the floor plans, available inventory, my personal blogs about the building, walk through videos, all of that stuff.
When they click on available inventory it takes them to a landing page on my BoomTown site where they end up registering. I have tracking links on there so I know if they came from my urbanFW website. We get huge traffic that way. I do some pay per click, but the site gets tremendous organic traffic. So that has really put me in a dominant position in the Downtown Forth Worth condo market …” (24:00)
How to Work With the Internet and Not Against It
“The whole point of the internet is to clear the fog. The reason it’s so powerful is because it puts consumers in touch with the most relevant important information to them … You used to be able to send a postcard that said ‘I’m the area specialist,’ but you can’t do that anymore. People can get online and go to Redfin or Zillow and they can see where every house you’ve ever sold is and what your clients thought of you.
That’s where the advantage is from having a great site or blog. Don’t just try to be the agent who knows everything for everybody. Pick the things you excel at and the neighborhoods that truly are your best areas of expertise and build an internet presence around the items you’re the best at. Because there’s really no faking it …” (26:45)
How to Achieve Local Expert Status
“It does all tie in with the area I live and the area I know. I started hosting a downtown history walking tour every month on the second Saturday. I pay a local historian who has written on the history of Fort Worth to lead the tour. I make homemade burritos and we meet at nine in the morning in the residents lounge of my building. I post it on Facebook and we have about 4,000 likes on our Downtown Fort Worth Walking Tours page and it’s very organic.
There are people I don’t know, people who work downtown, people who like Fort Worth and like history. It’s really grown. And I don’t stand up in front of that group and say ‘I’m a realtor, I’m a realtor!’ Everybody knows what you do. I know what all my friends do for a living. They just appreciate me for sponsoring the tour. My hope is if they have a question about living downtown or living in Fort Worth that I’m the guy that hosts these tours they love so they’ll probably call me …” (28:15)
“I don’t calculate an ROI on [these tours]. I’m building a community and I want to be part of a community. And I know the rewards are going to come from that.”