23. Why AI is now my secret weapon in real estate

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Ever wondered if AI could play a bigger role in nurturing your real estate leads? It struck me that my follow-ups were missing out on an essential boost. 

In today’s episode, I dive into my latest experiment with AI.

I've been rethinking how to balance high tech with high touch in this digital age. This journey has led me to explore AI's potential in transforming our outreach and engagement strategies. As I navigate through this, you’ll hear about my mindset, plans, and the incremental steps I'm taking to potentially revolutionize my approach.

Curious about the nuts and bolts? We’ll discuss how AI can seamlessly integrate into nurturing new leads—especially those who aren’t in our immediate sphere. From setting realistic expectations to identifying the right touchpoints for AI interaction, this episode is jam-packed with actionable insights.

Join the conversation! I'd love to hear your thoughts and experiences as we explore this game-changing tool together. Don’t forget to drop by the Business Systems for Realtors Facebook group. 🚀✨ Let's redefine what’s possible!

Business Systems for Realtors Facebook group: https://facebook.com/groups/bizsystems.
7-Day Funnel Challenge: https://orbit.realestate/cnfin7days
Explore how you can team up with us at eXp: https://alexarosario.com/exp.

Episode Transcript

Speaker 1 (00:00):
In today's episode, we're talking about playing with
AI to respond to and nurtureyour database.
Now, I will tell you that thisis something that I've wanted to
do for a long time and I'veseen a lot of back and forth
about it, right, but I haven'tfound the perfect way to use it
yet, and so, going into this, Iwanted to share a little bit

(00:20):
about kind of my mindset, myplan, how I look at taking on
new projects like this, and sortof how I set expectations.
So the first thing I think Ineed to cover is how we're
planning to use AI.
So I'm really big on thismindset of high tech and high
touch, right?
So if you've been through ourchallenges, you know that I talk

(00:40):
a lot about the top, middle andbottom of the funnel.
At the top of the funnel iswhen you're at the mall and the
person who is at the littlekiosk is like, oh, look, how
softer our hand cream is, andthey're trying to get you to
come over and you're like, no,I'm good.
But if, let's say, for example,you've been like, oh man, I
really need some new hand cream,right, like you're, you realize

(01:09):
how dry your hands are andyou're like I've been looking
for this and you know what?
Let me just stop.
That would be the middle of thefunnel, so not being interested
and just kind of being like, oh, this is cool, whatever,
disregard it.
Top of funnel, middle of funnel, there's a problem that they
understand and are open tosolutions for it, and at the
bottom of the funnel is whenyou're actually standing there,
you're deciding on which scentthat you want and which kind of
texture of hand cream that youwant and you're ready to
actually purchase.

(01:29):
So when we think about this interms of content, in terms of
nurturing our relationships, atthe top of the funnel is all the
people who have said thatthey're not necessarily in the
market to buy or sell realestate right now, and so that
doesn't mean that we stopnurturing them.
It means that we nurture themdifferently, right?
So we nurture them in a waythat's more focused around the

(01:51):
lifestyle of living in your areain my case, in South Florida
rather than focusing on the realestate side, because if they
live here, if they live in thearea, they're going to want to
know about the things that arehappening, right?
So that's relevant to everybody, regardless of where they are
in the real estate journey.
Then, once something happens intheir life and they realize

(02:12):
that real estate might actuallybe something that they need to
start taking seriously, thenthis is where Mindshare comes
into play, and so when you haveMindshare, they start seeking
you out, they start askingquestions.
They might not have a timelineyet or they might have
conditions that need to happenbefore they are ready to move
forward, and then when they'reactually ready to transact is

(02:33):
when they're at the bottom ofthe funnel, and so this is
something I talk through in allof our challenges, right, but
it's really important when we gointo thinking about AI.
So when I'm thinking about this,I don't want AI to step into my
sphere relationships.
I don't want AI to step intonurturing my hot leads or even
nurturing my warm leads that Ihave an existing relationship

(02:55):
with.
However, the way that I'mplanning to use this is when
somebody's searching forproperties on my IDX tool I use
RealScout and they're notsomeone who's in my sphere and I
don't really have arelationship with them.
Like there's a good chance thatif I keep reaching out to them,
they're probably not going toanswer anyways.
So this is where AI would stepin.
I don't have an existingrelationship, but the goal is to

(03:18):
get them to book a call on mycalendar so that I can get to
know them right, to get them tobook a discovery call, and so,
with that in mind, what we'relooking at here is not just
saying, hey, ai is going to justreach out to people, but being
very specific about who it'sgoing to reach out to kind of
the tonality and the verbiageand what the goal actually is

(03:39):
for that AI to reach out, and sothat is kind of the approach
that I'm taking here.
The same will go for ourcontent leads that are not
already in our system.
So if somebody opts into one ofour lead magnets or something
like that, they're going to beadded to AI under the condition
that they're not in our sphere.
And I know that sounds likesuper complicated, but it's

(04:00):
really not.
It's just using filters to makesure that the right people get
on AI and the wrong people don't.
Now, in terms of expectedoutcomes, I'm a firm believer
that this alone is thedifference between determining
if something is successful ornot right.
If we go into it with thismindset of like, okay, I'm going

(04:20):
to have AI reach out and 10% ofpeople or 20% of people are
going to respond to us, we'reprobably going to be
disappointed and we're going tothink that it's not working.
But when we go in withrealistic expectations, what I'm
thinking is, over the nextthree months, I'm looking for at
least two to three percent ofthe people who I'm adding to AI

(04:44):
to start responding.
And the reason that I came upwith those numbers is because,
typically, if you survey anyaudience and you ask, let's say,
300 people if anybody'sshopping for a new suit, you're
typically going to find abouttwo to three percent of the
audience is shopping for a newcar.

(05:06):
You're probably going to findtwo to three percent of those
people who are shopping for anew car, and so that would be
out of, let's say, 300.
That would be around nine or 10people, right, and so I know
that doesn't feel like a big win.
But when we go into thisthinking about it as that was a
lot of early lifting that Ididn't have to do and now I can

(05:28):
just focus on those nine or 10people, but knowing that those
300 people are all beingnurtured is definitely the way
that I want to go about doingthis, and I also want to add
here that I'm being veryconscious as well about what I
call stale leads.
People who opted in I met in anopen house.
They reached out about realestate through Instagram,

(05:49):
something like that, but Ihaven't had a conversation with
them in more than six months.
They haven't answered anythingand at this point I don't even
know if they're still in themarket.
I just know that at some pointin the past we have interacted
about something real estaterelated.
Those people will also go on anAI outreach plan.
Doing it this way, we can getthrough a lot of contacts really

(06:12):
quickly so that the ones thatare responding are the ones that
I get to step in and actuallyengage with.
Now, going into this, throughoutthose three months that I'm
going to run this experiment,what I'm looking for, as I
mentioned, is about 3% of thepeople who are on it to start
responding Now.
If, let's say, for example,after the first two to four

(06:35):
weeks, nobody has responded,then what I would start doing is
looking at the language thatthe AI is reaching out with.
I would start looking at howmany people that are reaching
out right, because it doesn'tnecessarily have to be 3% in
that first month, but we shouldstart seeing at least one or two
people who are responding andthen over those three months
we'll see again.

(06:56):
Using the 300 people, we shouldsee about 10 responses, right.
So that is just about one aweek.
So if we go a month withoutgetting any responses, that
tells us that our approach isoff and we need to adjust it.
And then the last piece ofgoing into this is, as we start
getting really effective withthis and we know, based on the
numbers, 3% of people are goingto respond within three months,

(07:18):
or 3% of people are gonnarespond within six months, and
if we have X number of people onthe AI nurture, we can expect Y
percent of them to book adiscovery call on our calendar.
Then the next thing that I startthinking about is OK, how do I
get out of having to respond tothe people who are replying to

(07:39):
the AI and actually getting themto book the consultation?
And so then it becomes either Acan we train the AI to be
better at converting thoseappointments or, b do I need to
have a VA step in and handlethose situations so that I'm
only handling the actualdiscovery calls?
And so over time this is kindof the process that I go through

(08:00):
.
In any time that I startadopting or implementing
anything new, it's like numberone wow, this is a cool idea,
how would I even go about doingthis?
Then it's like okay, when we dothis, how are we going to
execute it and what are theexpected outcomes?
And from that expected outcome,we also have to make sure that
we put a set timeline on it.
One of the things that I'vefound in myself is that once I

(08:22):
start getting bored withsomething, it means that I've
found in myself is that once Istart getting bored with
something, it means that I'vesystemized it to the level that
there's not really anyexcitement in it for me, and so
that's when I start thinkingabout leveraging it to somebody
else, because I know thatthey're going to do it right,
because we built the system sothat it's foolproof, and so I
hope this was helpful today.
So let me know in the Facebookgroup, like are you interested

(08:43):
in using AI outreach?
Does that make you reallyuncomfortable?
Like, walk me through, kind ofwhere your head is at.
So join us in the BusinessSystems for Realtors Facebook
group and I will see you in thenext episode.