Gary Vaynerchuk on Realtor & Lender Marketing Strategy
Articles,  Blog

Gary Vaynerchuk on Realtor & Lender Marketing Strategy


– One of the things we wanted
to talk to you, Gary, about was – we focus on bringing value to the agents and doing
direct to consumer. So, we’re doing two different models– – Of course. – So one of the things
that we are going in on is: a third of the buyers are now millennials. – Okay. – In our markets, and
of those millennials, all the things we learned
over the past 10 years on marketing actually are
pushing these people away. Right, so we’re told
to, when a lead comes in call them x number of times over this period of days and blast them– – There’s not a single person
that wants that phone call. – No, nobody answers the phone. So, they actually will fill out an inquiry on a lead page or something and they’ll say they’re interested but when we call them, they
don’t answer the phone. – What about texting them? – So that’s what we’ve been doing. I’ve noticed a little
tip: like emails weren’t getting opened in personal email boxes. Work emails are getting opened, but personal inbox has become a wasteland. – That’s right. – So I’ve been texting video clips through the service called BombBomb, and then also just
sending quick texts asking when they would like to
talk, and it’s working– – Imagine talking to people the way they want to be talked to. – So like, is that what you believe… what are your thoughts on text? – I’m ALL IN on text. – Okay. – I’m very bullish on text,
it’s why I have first in line. And I believe in it the most. Notice how I said, “what about text?” Text. – So you think in terms of
building a subscription model. – If you added what your Instagram handle in your lead gen form and
said in little parentheses “we will follow you on there” and DM you if we’re unable to get to you by phone– – [Neel] Yeah. – You’ll get everybody. – [Neel] Yeah, and then– – What you should really
do on your lead gen form is how would you like us
to communicate with you? E-mail, phone, Instagram
DM, come to your house, smoke signals, write you a letter? You get a lead gen and
then you’ve decided through tried and true practices
from the 19-fucking-70’s this is the industry now to communicate with them but
they don’t want to communicate. If someone called me I would be upset. I’m upset when people call me. – [Neel] ‘Cause you
don’t want a bandwidth– – Because there’s technology. It’s called text me and I’ll
get back to you when I can. Not you call me on my time. We value time. You should make the lead
gens predicated on not just, you should absolutely ask
them upfront aggressively how would they like to be talked to. If you say, we acknowledge
many people now communicate in different forms, how would you
like to be communicated to, one two, pull down, e-mail and Instagram, call and handshake, letter and telegram. – [Neel] Makes sense. – It will work. – [Arjun] And with millennials that’s– – And there’s old school
millennials that want a phone call. And there’s a 73 year old
grandma who’s hip as fuck. (Arjun laughs) – Yeah. – Individuality to how they want it, not just millennials do this, got it? And you have that ability. That’s how the form should be set up. – So you actually built a
service of–and then for texting is that something they have to opt in for? – Yeah. – Okay. – Big time, like, you get their
thing then they gotta opt in and confirm because it’s
a very sacred ground. – It’s not a spamming place. – No, it is not. – Okay. Okay, and is
there anything else that you can give us as far as
marketing to this demographic which is becoming a bigger
portion of our buyers? – Look, I mean, they’re
cynical to marketing. They don’t want the fucking– – [Neel] They don’t wanna be sold. – They don’t want the
hotshot, I got a Lamborghini and a suit and I’m your real estate guy. They want authenticity, they
want contextual creative where they live, you know? They want information, they want value, but they’re like any other human. They either wanna be
entertained or informed. Right? – [Neel] Yup. – [Arjun] Makes sense. – It’s basic, but the problem is you can’t run an infomercial anymore. They don’t care
that–there’s no 27 year old that thinks it’s cool that
your face is on a bench. – Yeah. (Gary laughs) – I mean literally when I see
a real estate agent’s face on a bench I’m like that
person is definitely dead. – [Neel] We’ll go on the
freeway and see a billboard where somebody just put up their face and I’m like that’s for you,
it’s not for anybody else. – 100%, and that’s fine too. – Yeah, that’s cool. – Like, Mazel Tov, enjoy, I
put my face on a billboard back in the day, it’s fun, I get it. The part where they really
lose, believe it or not I’m a little bit funny with outdoor media. The same billboard can
sell for $20,000 and 2,000. So my opinion changes on that. – [Neel] So there’s a price but it’s just not what they’re asking. – Correct, so billboards
sell in a funny way. You’ll sign a six month contract and they couldn’t sell it to someone else so now the month is there,
now they’re scattered, they don’t want an empty
board so you can buy it for 2,000 just for the month. So I like that billboard, here’s where I get
screwed up: the content. So now you’ve got the
billboard at the right price. I’ll take it. Yeah, every passenger is
looking at their phone, Yes, I don’t think billboards
are as good as they were 30 years ago, but you give
me a $20,000 board for 2,000, right, everything’s got a price. – [Neel] Yeah. – That’s how I think about
media, but then creative. The problem with most real estate agents when they get a billboard is they take their most stock image in a good suit. Nobody wants to talk to you, Barry. – [Neel] Yeah. – [Arjun] Yeah. – 1-800-Barry will help
you is fucking 1987. Why don’t you put a billboard that says every other real estate agent sucks? And wear that awesome shirt
that you’re wearing now and that will convert way better. Even though some people
hate that you said “sucks”. I know what every single banking and lawyer outdoor billboard looks like. It is a person in a suit
with a tacky phone number. Can’t break through. You’ve never seen it because
you’re so used to it. – Yeah, it’s vanilla. – Yeah, it’s the same thing– – You get somebody with a Faze Clan hoodie saying “I’m a lawyer and
every other lawyer sucks” and put a phone number they’re
gonna cream up 22 to 30. – [Neel] Yup. – 25 to 35. Right? – [Neel] Yeah, that makes sense. – [Arjun] Real estate and mortgage, both these industries moving forward with everything that’s
happening in technology and how they’re having to adjust to pivot which one feels the impact more? – Both because they’re so inherently tied together, you know, both. – The middle gets eliminated on both. – Yeah, tech will eliminate
everything in the middle. Glass doors, people will tell you those sunglasses got eliminated. – [Neel] I bought these from Warby Parker. – Correct, you used to go
to fucking Sunglass Hut. – [Neel] Lenscrafters or something. – That’s exactly right. Got it? The internet wins, we
lose, now figure it out. – Yeah. – If you’re in the middle you’re finished. I really believe that. Now
the question becomes, when? I’m right about that. – [Neel] Mhm. – But if I said this in 1994
and you owned a bookstore you’d be like, you got called out first. Mr. Bezos came along. If you were a taxi cab driver
and you watched this video for some reason because it hit
your fucking Instagram feed and you’re like, I run an Internet taxi in 2009 you’re laughing at me,
that kid doesn’t know shit. And then Uber put you out of business. – [Neel] Yup. – The internet will put
everybody out of business if you don’t build something defensible. The only thing that’s
defensible is the best product, the best, and this is the
scary thing for people because now they hear
that and they’re like, well I’m the best, no you’re not. The best product that’s differentiated. You’re just a real estate agent. There’s plenty of people that
have done it for 27 years too. Or they could be LeBron and Kobe. I have a funny feeling if I decided to be a real estate agent next year even with my lack of experience that I’d be really good at it. (Gary laughs) – [Neel] Is that why you got Liz into it? – No, my sister got into it because she always wanted to do
it, I mean, I pushed her to make the jump and supported her as she navigated inevitably what a lot of stay-at-home moms navigate which is, you know, you feel a level of
guilt that you wanna do it. She grew up in an Eastern–I
know what household she grew up in, one
that’s very traditional, Eastern European, mom
stays home, you know? – [Neel] Yeah. – So she had to go through her own shit. The part that I pushed Liz on
is her content on Instagram is “I suck, I haven’t sold shit.” – [Neel] But it’s real. Yeah. – That’s gonna lead to all
our business, you know? – Yeah, it makes sense. – Definitely. – It just seems like just
being at this conference there’s a disproportionate amount of people in a higher age bracket. People are in real
estate and mortgage for, we have no young people in our office, it’s all older people that
have been doing it for a while. And I think they get stuck on– – Well, everybody’s in
trouble with young right now because everybody young thinks
they’re Mark Zuckerberg. [Arjun Laughs] – [Neel] You can’t hire anybody young. – You can’t hire anybody young ’cause they’re all starting companies. We need the economy to collapse. Then you’ll get young. – [Neel] Yeah. – When everybody realizes their
direct to consumer kombucha is not going anywhere,
they’re going to get a job. – [Neel] Yeah. – [Arjun] Punched in the fucking mouth. – Punched in the fucking mouth. – [Neel] But these
guys, for a lot of them, everybody is kind of plagued by the shoulda, woulda, coulda’s
’cause they’re in the older part of their life and it keeps them back from future opportunities a lot of times– – Of course. – But I saw a piece of
content of yours a while back, I don’t know, mixed in
somewhere that said, you were talking again about how you could have invested in Uber– – Yes. – But you don’t get yourself hung up on it because you could have done
it and then got hit by a bus. – I’m glad you–did you
like that piece of content? Super interesting, right? – It just hit me ’cause I’m like, all the mistakes I made
before, it let you to where– – It got you to where you are now. – This is the reason why
you’re at where you’re at. And use that as your fuel to go forward. – Yeah, and by the way, I
could have been way better. I mean, I’m pretty
smart, that 400 million, it could be great, it could be great. But it didn’t happen. Until somebody shows me a time machine my ability to look back and
dwell is going to be zero. – Yeah, makes sense. Let me thank you for doing this too, man. We got a ton of wine on
the way, I think, so– – Yeah, what are you gonna do? – He’s a big wine guy, I’m not. – This is why I’m so excited about the barter I did with wine. – It’s a win-win. – Yeah, but it was always a win-win. I always loved when I did
barters for books, sneakers, any time I’m selling
something I want to barter because I want it to
do well and I know that access to me is very valuable
’cause you can’t get it. So I always knew I had
a market and obviously as I’ve gotten bigger
the market gets bigger. I mean, some of the
shit I did for Crush It, like buy five books and I’ll
be your best friend for a year, I didn’t have the same leverage. So anyway with books what I
watched a lot of people do was they would buy a thousand books and put it in a warehouse. Yeah. Because they just wanted my time. Maybe they gave away a couple but I don’t blame them, they’re busy. If you can buy 1000 books
you’re probably busy, you know? So they’re like, the
best use of their time was to put them in the corner. Wine’s going to be different. Wine, people are gonna do shit with. ‘Cause it has a natural currency in our society that’s better than a book. – [Neel] ‘Cause clients love it. – Yeah. – [Neel] Agents love it. – And then for me, it was
always–once I ran the math, buy 4,000 sneakers was worth
whatever I was doing for you. Buy four sneakers was worth
whatever you just bought, I decided was worth it based on how much pressure I felt to sell it. What’s interesting about
that, though, is I’m like, hm, this actually might
really work for me. Because I did the trade that was worth it but the backend has more of a residual. You’re going to give it to clients. They’re gonna fucking love it. They can’t get it
anywhere else besides me. It’s a direct to consumer brand. – [Neel] Could be in retail. Okay. – So they’re gonna go to
the website and order it. It’s just gonna travel better than books. – [Neel] It works better, yeah. – Easier to enjoy right away. – And I’ll tell you, and
I’m very proud of this, it’s a $40 wine for 20 bucks. – That’s fantastic. – So my hope is that people
will be able to taste it. It’s a big Delta. – Yeah. – That’s awesome, man. Thanks, Gary. – Thanks.

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