Getting new leads (and converting those leads!) is fundamental to growing any Real Estate business. Firepoint is a software solution that can help with lead generation, team management, and more. We caught up with Chris Tamm, founder and Chairman of the Board at Firepoint, to talk strategy, ROI and lead generation.
1) How did you get into the real estate industry?
I had a friend in the industry and I was coming out of being in the insurance industry and I decided to go work with him. In the first 6 months went from 2 agents to the largest team in the KW brokerage with 60+ listings on the board, and then went independent. Grew to over 400 closings a year by the 3rd year – all traditional resale transactions.
2) What would you consider your area of expertise within the industry? Why?
Strategy, systems, structure, implementation, marketing, ROI, and leverage. Because I have the book knowledge (business undergrad and MBA), the experience (15 years in corporate America management and sales, have owned 7 different businesses including insurance company, real estate brokerage, title company, Firepoint (software company) and have raised funds from angel, seed, and venture investors), the track record (high level success in all of these ventures), and because I am a consultant to many different real estate teams and tech companies.
3) What made you start Firepoint?
I have created many different CRMs and systems in the past (in past companies) and did the same when I got into real estate. This went through four different versions of improvements over the 3 years until there were a number of different real estate teams who asked if they could buy what we were using. Hired a development team and started it as a tech company – Firepoint and then in 2014 I sold my real estate business companies and started to manage Firepoint full-time.
4) How is Firepoint different from what is already out there?
Firepoint is built by agents for agents – and provides a high level of systems integration for a competitive price. We also allow a level of team-leader transparency into their team’s actions that you cannot get with other systems on the market – things like call-recording of all inbound and outbound calls for coaching and scripting, instant text responses and lead routing based on price, area, source, day, time, etc., ROI reporting to show return on investment and cash-conversion-cycle (velocity of money), and integrated transaction management.
5) What advice do you have for agents who are looking to grow their business?
3 things. 1. hustle and make sure you use your productive hours accordingly. If you can do 7 open houses a week and you get one client a week, do it until you are too busy. If you can door knock 100 houses a day, why don’t you, unless you are too busy for more business. 2. Control your marketing budget – set a % and don’t stretch past it to buy leads or business. 3. Make sure your systems are solid – if you have agents or staff make sure they are following a system that you can audit and that you will spend the time to audit to make sure leads are followed up with (short and long term), tasks are complete, and client are taken care of.
6) Are there any big no-nos for agents who might just be getting started? Anything to watch out for in lead-gen and management services?
Be careful to just start spending too much money on lead generation without proving that you can see any results or good conversations coming from it. Don’t be greedy to keep all of the commission if you can join a team that will help feed you and teach you the ropes.
Chris Tamm went from high-school drop-out to an MBA and serial entrepreneur, CEO, and business consultant. Chris has worked with hundreds of top-performing real estate teams and companies over the last 8 years to help them create and refine their strategies, systems, and processes. Firepoint is one of the leading business management software platforms in the residential real estate space, and can be found at www.firepoint.net.