Conversational AI Can Help You Generate More Qualified Leads?-with Nate Joens- EP 161

On this episode of the Lab Coat Agents, Jeff talks to Nate Joens. The real estate industry is changing. Being a social media guy, Jeff goes on stage and speaks about how the next technology in terms of AI, VR, AR and blockchain, and more automation are designed to take the jobs of real estate agents; One way to overcome that is through social media. Nate Joens, the co-founder and head of Innovation at Structurely, who is an expert on the AI side of things, is going to tell us how AI, Artificial intelligence, is extremely important when it comes to lead conversion.   Episode Highlights:  Real estate agents and lenders are great at getting out being face to face, and they love getting close to someone, feeling out what they are looking for and what they hate. Call centers have been around for 20 plus years, and they are not particularly scalable, enjoyable, and inconsistent but, technology solves all those three things. For so many real estate professionals, follow-ups are a very important piece of their business. For some, it’s the entire piece of their business, and technology essentially solves that. One of Jeff’s good friends Eric Hatch, who coaches ISA from across the country, says if you don’t have an ISA, you are the ISA, and that is completely true because if you don’t have someone to follow up or chase, it is on you. Nate shares that one of the things, when they started Structurely, was, they were going to replace ISA, and that was kind of like their lead in, and they were going to displace the market.  Nate ended up finding that their product has a lot better position as augmenting the role of the ISA. Some of their best users and teams today are ISA themselves. Smaller teams and individual agents who are getting started say, “I don’t have an ISA. I am trying to scale up my team. I don’t have the money or the lead volume to hire an ISA. So, I am going to use Structurely in place of that ISA so I can focus on closing.” There is a ton of neglected gold in your database that Nate’s product helps work too. You could probably make as much in a month or two months just focusing on your old leads. “AI definition was the lens that we took when we approached real estate, and our goal from day one was to say our product would be indistinguishable from a human”, said Nate. Nate is very excited after being in the market for about five years. They analyzed over 5 million of their conversations and saw that 99.9% of their leads believe they are talking to a human. Nate doesn’t want to be a black box for their conversations. So they have a mobile app and a dashboard, and they integrate with a user’s CRM so one can see conversations in real-time and take over if they want. If you are newer, you might not have a huge database, but you want to squeeze the juice out of every lead you possibly have, and you can do that with AI. Companies like Structurely are doing their homework to figure out the right cadence, which probably isn’t one size fits all because every customer is different. GPT 3 is the world’s largest natural language processing model trained on basically the Internet. Every piece of text that it could glean from the Internet, all of Wikipedia, all of everything it’s trained on. It’s the largest training set of words. AI won’t replace you, but it will make your job easier and more enjoyable in your life. And it’s the same truth for the VA aspect. It will help them kind of seed their work. You need an ISA, and you need that function in your business to follow up with leads and qualify leads. You can’t do it in a fake way. You have to have a system in place to do it, and if you don’t have a system, you are the system, or you are the ISA. You have to make some decisions to use AI, like do you want it fully integrated into your system, or do you want it partially integrated into your system. Nate’s company offers a lot more script customization through their product directly. 3 Key Points: AI is a computer doing the task or job that a human has done historically. There are a lot of different means, channels, and avenues of AI like predictive analytics, conversational AI, generative AI, computer vision, and many more. As consistency is key, conversational AI is extremely consistent. You set a program in place, and it will follow up X many times over X many days, no questions asked, and no matter how many leads you throw at it. A study from the Salesforce team has found that sales teams spend just one-third of their time selling. They are spending 2/3 of their time scheduling appointments, qualifying leads, following up with leads, and updating their CRM. Resources Mentioned:  Lab Coat Agents | Website | Facebook | Facebook Group | Twitter | Instagram  Jeff Pfitzer   | Instagram | LinkedIn | Twitter Nate Joens  | https://www.structurely.com/  | https://www.facebook.com/structurely/ Street Text (Sponsor) Follow Up Boss (Sponsor)