Preparing For Real Estate Market Disruption-with Jessie Beaudoin-EP83

During this episode of the Lab Coat Agents Podcast, host Jeff Pfitzer speaks with the Founder and CEO of CallAction, Jessie Beaudoin. CallAction eliminates all of the inefficiencies in the follow-up processes that cause real estate agents to be very inefficient with their time. Jessie is here to tell us all about those processes and where the real estate industry is headed in the future and how you can prepare for potential market disruptions! Episode Highlights:  Jessie got licensed as a real estate agent at the age of 18 and began building websites the next year in 1997. Early on, it was difficult for Jessie to remain consistent, causing him to focus heavily on his marketing. CallAction.co helps real estate agents focus on inbound conversations by taking away all the tedious tasks that come with usual CRMs. Real estate agents have only been focusing on the online lead generation side of the business for the last 10-15 years. Jessie had the foresight to see where SEO and real estate were going to intersect all the way back in 1997. Agents tend to forget about what got them super busy in the first place and that’s a mistake. The average income in the United States has stayed about the same over the last 20 years, but there has been a huge decrease in interest rates. A shortage in available listing inventory has combined with the global pandemic to create historically low rates. Debt-to-income ratios went out the window in the late ‘90s which put extra weight on FICO scores. Jessie predicts the ceiling of appreciation on real estate considering that income will not change and interest rates are more likely to go up. Baby boomers own 35% of all homes in the US and are simultaneously retiring and passing on their real estate inventory. The pandemic has created a multi-generational-household culture throughout the world. A major problem lies in the small size of Gen-X combined with a lack of need for homes for Gen-Z and Millennials. There are so many economic unknowns brought on by COVID that no one can be sure of the real effects. Companies have begun to realize that they can get everything done with fewer people, supporting the theory that many jobs are not coming back. Small property investors haven’t collected any rent for the past 6-7 months, resulting in very tough times. People lose their ability to be empathetic to the people that need the most help when they are busy. Developing relationships and solutions in order to prepare for the worst-case scenarios is essential. Companies that are dependent on volume-based leads need to become hyper-efficient with their lead processes. Lead costs, and competition with larger companies, are going to go up, thus increasing the need for improved efficiency. Give consumers the opportunity to get to know you before they ever actually speak with you or meet you in person. Tapping into the ART Funnel (Aspirational Research Transactional) is the best way to put out effective marketing content. The more focused your content is, the more likely it is that someone utilizes you as an agent. Seek out those that have experience in the schools of hard knocks; they have the knowledge that you need to navigate different markets. CallAction eliminates the time-consuming tasks that come with a standard CRM and the follow-up process. The tasks can add up to the point to where your business is no longer scaleable. You should not wait until it is necessary to become as efficient as possible; get ahead of the game. 3 Key Points: Jessie’s entire career has been spent on website development in the real estate industry, watching first-hand as the technology side of lead generation grew over the last 20 years. A combination of the pandemic and a shortage in inventory has created historically low mortgage rates, but they can’t last forever. Remaining empathetic, developing solutions and relationships, and becoming hyper-efficient with leads and follow-ups are Jessie’s recommendations heading into the future of the real estate industry. Resources Mentioned: Lab Coat Agents (website), (Facebook), (Facebook Group), (Twitter), (Instagram) Jessie Beaudoin: (CallAction website; email Jessie at jessie@callaction.co; call Jessie at (323) 741-2255) Follow Up Boss (sponsor)