How a Real Estate Chatbot Sold 3 Condos in 10 Days
If you’re a real estate agent or brokerage with a super busy workflow, this Facebook Messenger Case Study For Real Estate Agents will help you better manage your qualified lead generation with customized automation!
The way your client’s and prospects communicate has changed in a big way over the last decade, let alone the last year. Have you ever considered a chatbot for your real estate business?
If you look at your own methods of communication, I’m betting that like most people you have likely shifted away from email and phone calls and toward SMS+MMS text messages and messenger apps like Facebook Messenger or WhatsApp.
Bottom line is that your clients and prospects prefer communication that is convenient, instantaneous, and smartphone-friendly.
Enter Real Estate Chatbots on Facebook Messenger!
Messenger bots are the perfect solution. Why?
1. They’re fast and intuitive.
2. The responses you get are short and easy to read.
3. They allow you to talk to your clients where they already spend most of their time – on Facebook!
Are you ready to learn how a Facebook Messenger real estate chatbot helped our client generate and pre-qualify the leads required to pre-sell 3 apartments in 10 days?
I’ll detail each step in our Facebook real estate chatbot strategy that generated the results and ROI.
Facebook Chatbot Case Study Contents
1. Summary of Results & ROI
2. How We Built the Customized Chatbot
3. Setting Goals and Key Performance Indicators (KPIs)
4. Background on the Client’s Most Pressing Issues
5. Our Customized Solution
6. How Does The Bot Work? The Bot Flow
7. What Happens If Users Leave the Bot without submitting email or phone?
8. Our Results – Client’s ROI
9. Conclusion Recap
Summary Of Results and ROI
The following details the first 10 days of the campaign’s results. This is a quick summary of the results so far.
It should be noted that at the time of writing this case study, the campaign is still running.
Since our Facebook messenger real estate chatbot has already earned back the initial investment 100-fold ROI, and significant amounts of data, we’re able to draw credible insights and conclusions.
– Adspend: $116 USD
– Link clicks: 1064
– Messaging Conversations: 243
– Pre-qualified Leads Collected: 60
– Condo Reservations Made: 3 (during 10 days so far…)
– CPL (Cost per lead): $1.90 USD
How We Built The Customized Chatbot for Real Estate
Okay, let’s take the deep dive into the details of how we achieved these results using a Facebook messenger bot specifically customized for real estate agents.
Background On Our Client’s Most Pressing Issues
As James Cooke wrote on Medium, “Usually when a new condo building or house is being built, the agency tries to sell out as many of the available condos as possible, even before any of the actual construction has begun.
Sales process begins pretty much right away after approval from legislative bodies is received and before the actual construction of the building starts.
The agents get to work with the sales team, usually, that means Facebook ads, utilising their personal network, driving traffic to a landing page and so on.”
The goal is to get contact information to take the communication with the potential lead to a real agent.
In all cases, what the real estate agents ultimately need is contact information for a person who wants to know more about the development.
Once they have that data, they get in touch with them and handle the leads one-on-one.”
Our Customized Strategy and Solution
As mentioned, a Facebook Messenger chatbot is a great solution in this situation.
Every month, over 1.2 billion people in the USA exchange messages with businesses and organizations on Facebook messenger.
It would be a huge mistake if you or agents at your brokerage are not using Facebook Messenger to market and promote your listings and services. After all, this is a platform where your customers prefer to hang out when online.
The Key Advantages of a Messenger Bot For Your Business
– Much better conversion rates than achieved on a landing page
– You enjoy a reduced cost per lead
– You have the ability to pre-qualify/pre-screen leads and learning regarding their real estate preferences before you even actually talk to them
– Thanks to the pre-qualification of all leads, you spend time with warm/hot leads
– Bots allow for customized automated follow-ups to help move prospects further into your sales funnel
What We Want The Customized Chatbot To Accomplish:
– Start a conversation with a potential buyer. We use hyper targeted Facebook and Instagram ads to drive qualified cold traffic to the bot.
– Introduce the specific real estate project to the potential buyer
– Location (with images or video)
– Rooms (with images or video)
– Square Footage
– Confirm that the potential buyer is interested in this specific real estate project.
– What type of home/unit they are exactly most interested in (1/2/3 bedrooms etc).
– Capture the prospect’s contact information (phone/email/preferred contact time)
– Pass that information over to the realtors via email, SMS, or CRM integration.
– Follow up with all potential leads in case of a bounce from the bot or a non-conversion to understand why they didn’t convert.
How Does The Bot Work? The Bot Flow
– Our team, or yours, will link the Chatbot with a unique Facebook ad.
– When a person clicks on the ad, the image/video, the headline or the ad’s customized call-to-action button, our bot sends them a customized welcome message.
– Once the user engages by clicking any of the elements listed above, the next step will be triggered and the bot will start automatically nurturing your lead with information about the condo.
– During this automated and customized engagement, the bot starts to understand the precise needs of this specific lead.
– After getting a basic understanding of the user’s preferences and making sure they’re interested in the condos, it’s time to speak to that lead asap!
– The bot will prompt the user to submit their preferred contact info.
Why does this work so well for the lead and your lead generation?
– A chatbot works so well because it can interact with the lead without being too pushy.
– If at any time the lead wishes to take the communication to you directly, they can do that.
– However, it takes time to warm up some leads, so if they want to learn more details, the bot will provide them efficiently and effectively.
– Once the lead is ready to speak to you, our chatbot asks the person of their preferred channel of communication (phone or email).
– In our experience, people prefer to leave their email in 90% of the cases.
– The bot collects that info and forwards it to a spreadsheet via email, or directly to your CRM where you can access it and get in touch with your lead.
Once the bot collects your lead’s contact information, it the can do any of the following:
– show the lead other real estate for sale
– take the user to a website
– provide financing options and more…
Imagination is the only limit. In our case, we’re giving the user an opportunity to check out more pictures of the property as well as check out other developments.
What Happens If Users Leave the Bot Without Submitting Email Or Phone?
This is never a problem.
It could mean:
– The lead is unqualified and is completely uninterested in that specific condo
– The lead may have accidentally clicked on the ad
– That specific condo didn’t match their needs/wants, something else came up, etc.
– This is where a chatbot is so much more powerful than a landing page.
– If someone comes to your landing page and leaves it without leaving their contact information, the only way to re-engage them is retargeting ads, however, that doesn’t tell you why they actually left the website.
Here’s where the bot has huge benefits:
Even though the person didn’t leave their contact information, we have an opportunity to send them a follow up message via Facebook Messenger.
In our case above, the lead left the conversation halfway through.
So the bot sends them a follow up message and gives them an opportunity to continue where they left off.
The lead also has the opportunity to tell the bot that they’re not interested or would like to find some other real estate.
This is amazing because you will find out exactly why that person didn’t give their contact information and you can adjust based on that — and you can do that in an automated way. For free!
This bot has been actively running for 10 days.
The ad spend has been $116 USD.
The results we’ve had with this are quite astonishing.
– Link clicks: 1064
– Conversations: 243
– Contacts: 60
– Condos: 3
Out of the 1064 link clicks, a total of 243 have converted into actual conversations – i.e. these are the number of leads that the bot has engaged with and can follow up with.
From those 243 conversations, the bot has successfully pre-qualified and collected the contact information of 60 people at a cost of $1.90 USD per pre-qualified lead.
From those 60 pre-qualified leads, already 3 people have made a pre-reservation for at least one condo in the building that is going to be built.
Not a bad return on an investment, right?
Conclusion and Recap
So there you go, if you’re looking to sell some condos, apartments, resale homes, or new homes in new developments, and need someone to do the legwork of generating potential clients for you on autopilot — a chatbot is the way to go.
I hope this case study gave you some ideas on how you could use a chatbot in your own business.
If you’re in the real-estate business, we’re happy to help you get setup just like this case study illustrates.
Please email directly at firstname.lastname@example.org and let’s get started!