BoomTown ROI | Video Review | Real Estate Lead Generation Websites| CRM | Real Estate Leads

BoomTown ROI | Video Review | Real Estate Lead Generation Websites| CRM | Real Estate Leads

Good afternoon, Good evening. My name is
Robert Newman I am a real estate online marketing expert and I am the founder of
inbound real estate marketing also known as inboundREM. You’ve probably seen
my website you’re probably on my website right now. So what are we talking about
right now we’re talking about Boom Town. So boom town is a really estate, what I
would refer to as a real estate lead generation website provider. So they make
websites and through those websites they generate leads.
There is nothing, Boom Town is best-in-class. Let me just start off, open
up there. If you want to generate leads and you have the budget. Boom Town is definitely one of the ways that you should be looking at doing that. All
right, so boom town is mostly designed for real estate teams, small
independently owned real estate brokers and here’s how that works. All right so
right now we’re looking at one of their larger customers all right. What I mean
by that is they have 44 locations located all over the United States all
right so these are all the locations. The name of the brokerage is Carrington. so how does that work, owning a boomtown real estate? So please
look up here you can see up here that it says Carolina estate office
locations and let’s just say that we clicked on Texas, El Paso. We would then
click on that and notice how the URL changes. So this is now a landing page
for the Texas Carrington office and what this office would do is it would drive
traffic. So the way that boom town drives traffic is let’s just say this office is
in Fort Worth okay. So we when people do a search like Fort Worth homes for sale you get stuff up here. Okay you get
anything that says an ad is what’s called paid advertising okay. Boom Town
has a multi-tiered fee structure. So boom town charges $1500,
let’s see. I listed it out and I’m just gonna cover it for you. So it’s a $1,500
setup. They call that a licensing fee that’s just to access the platform. That
doesn’t cover anything else. They will tell, they do have a lot actually I
shouldn’t say that. They have a lot that they cover. They
provide excellent support you get a marketing assistant that will teach you
and your agents how to use the platform. So that could include like online
tutorials or multi agent classes and what they’re going to do is they’re
going to show you the backend. The backend contains a lead management
system and it’s got two separate sides to it. It’s got the agent side that shows
that an agent can log into this platform and then they can kind of see. So a lead
gets assigned to them and they can see what that lead has been doing and they
can email out and kind of touch that lead multiple times through the platform.
the second tier of this is that somebody can log into a company dashboard and
then see how actively agents have been working those leads. So it covers two
separate sides of productivity and of course you need to be trained on how to
use that effectively and that’s what Boomtown will do. Assign a team to you
and that team will then train you and all of that’s part of that fifteen
hundred dollars per month and it covers one to 25 users and it’s $35 for every
additional user. Now a user is defined by somebody who gets a login to the
Boomtown platform. so if you have an off agent, a hundred agents but you don’t
want you don’t think that all of them necessarily need to use the platform
that’s fine but only the agents that are getting licensed and logging on would be
trained on how to use it. Online advertising which is a must and quite
literally Boomtown will tell you and insist on essentially that if you want
leads coming in to your website, from your website what you need to do is you
then need to pay them additional monies to manage an advertising campaign that
will drive traffic into your platform. The second option is if you already have
marketing in place you can drive traffic into the platform and the way that that
traffic is then turning like how would you generate leads once a traffic is
there. So I showed you somebody clicks on an ad it
goes let’s just say that it hit the homepage. So now that person is starting
to search properties. So we go in here and look at this property like ohh! cool!
so many neat things, so many neat things. We click around we look down. Ok and we
decide we want to go into another property and bang. Ok
so essentially you get to look at one property uninterrupted and then
from that point forward you get required to register with the website
and it’s a little bit hard to get out of it and get back to these properties but
you can. You can just keep backing out but then you keep getting this popup and
so then you can continue with Facebook you continue with email and once you log
in that person is becoming a lead that is nurtured by the system by the
Boomtown system and this is the stuff like that your agents can see. So then
you assign that contact to an agent that that person who has an email address and
they now get to see how many searches that person is doing and there
is a system that will kind of say hey this person’s done twenty
searches. They are probably a high-value lead. so there is a like, a lead
prioritization mechanism with Boom Town. So there’s lots of cool stuff and
boomtown is definitely focused on larger real estate teams. so in other words if
you are a small broker somewhere and you have ten or fifteen agents that all need
to be fed leads then boomtown is probably, like in terms of everything
that they provide in a one like, one solution. It is very good, it’s the best
actually not very good, it’s the best. In addition to everything else for that
fifteen hundred dollars boomtown does provide a very minimal amount of SEO.
Okay what do I mean by SEO? so let’s take a look at that. SEO, search engine
optimization is the is the ability to get on the left-hand side of the screen.
so let’s just take this. so this is boomtown itself and part of my reviews
is I always take a look at how proficient do I feel, like in a real
estate marketing company is in terms of SEO and boom town is better than most.
It’s still not great but they are definitely using SEO. So this real estate
team names, is definitely a term that they’ve targeted. They’re number one for
the term. So let’s just google that. Whoops. So we do the search and there we
go eight formulas for picking a real estate team name. So obviously since boom town is being designed for teams this for them is going to be a high-value
search term. So we go into the website and then we get a fairly clean content
page page that talks about Nouns, is putting two names together? Gives you a
little video, points to remember and click here. Okay so this is definitely a
lead generation mechanism for boomtown who is definitely focused on real estate
teams. The article was published in October 2016 and its first on the page
so this is a very good example of fairly solid SEO work and the only reason
that’s a fairly solid is that I dug through a lot of content that boomtown
has produced and it’s pretty generic but they’re not going for very
competitive terms. So most of this stuff like real estate team names and real
estate email templates. When you’re looking at something like, let’s just go.
So you see what this says? Real estate team names. So this keyword difficulty is
on a scale of 0 to 100. So 4 is about average in the real estate business not
very much is competitive in the real estate business but just to give
you an understanding of what is competitive. so that you can see what is
different in this industry. If we do real estate websites which would be a term
that Boomtown could theoretically target but they may not want to because they
might not want to target unqualified visitors. So they very well
may not think that this is a great keyword for their business but difficult
keywords do exist in real estate which is why
I’m saying hey that keyword, those keywords aren’t all that competitive. So
0 to 100 and this is in 95 so and what this means is that you’re going to need
a whole bunch of reference. A whole bunch of people referencing your article in
order for your page to make it to the first page of the term real estate
websites. So there you go. Anyway, so you can look down here and most of these
keywords you just, at this point I’m not gonna give any more examples you’re just
gonna take my word for it. Most of these keywords are just about as competitive
and I’m not sure like real estate email template it’s okay I can kind of see like
how that might be relevant. my only question is if they have chops and I
always ask this question every single review, every single company. Boomtown
just got a twenty million dollar round of financing. If you have that much
resources why aren’t you going for like real estate lead generation website
because that’s exactly what they are. That is a hundred percent descriptive of
their business it just happens to be a much more competitive keyword and yet
they’re not pursuing it. So, and you go down here and you’ll see like real
estate team agreement. like let’s just look at one more. So we do real estate
team agreement and they’re somewhere deep on the first page, actually they’re
not on the first page at all. I don’t know why but all right
and then. so, for those of you have been following me
for a long time. I do try to be meticulously like I I’m a data analyst I
look at the data and the data suggests that these guys despite talking about a
SEO in many different places on their website they just don’t pursue it that
much which is not surprising because their primary method of generating
business for their clients is paid advertising and why am i spending so
much on these topics because once you start spending this money you’re going
to be locked into boomtown for a long time. This is a $3,500 to $5,000
commitment at a minimum like just to get in and do a minimal amount of marketing
it’s $1,500 and setup $1500 per month so that’s three thousand plus a thousand
dollars for the advertising so we’re talking 4500 dollars to get started and
you’re gonna be spending anywhere from three to five thousand on a
month-to-month basis and many companies probably spend more like ten, fifteen,
twenty thousand dollars. Like some of these teams that they’re doing business
with and more. that’s not even that the top I’m sure. So what does that mean so
it just means that while I’m a big proponent of boomtown I think they’re
brilliant and I’m gonna talk a little bit about their leadership and some of
the other things that they’ve got going on because they’ve got a lot of really
impressive information surrounding them but I do want to say this in terms of
developing a relationship with a company where you’re spending this much money on
a solution on the website that you know you’re never gonna own. On a company that looks like they’re fast tracking to be sold at some point is always risky
because you are going to be spending 50, 60, 70, 80, 90 thousand dollars a year and
you don’t own the website, they do. because what they’re saying is we’re so
good and so organized at marketing you need to spend 90 grand on our solution
and we’re going to continue to feed you leads. What they don’t say is what
happens if you go off the rails. You don’t have a backup option. So when you own
your own website and you’re doing the marketing yourself. Yes, it is a little
bit more work to figure out what all the solutions are but you always have a
backup option because you own the site. So let’s just say that a provider like
your solution that you’ve been using for let’s just call it customer
lead management right. Let’s say that solution doesn’t work anymore or the
plugin that you are using in WordPress doesn’t manage your leads the way that
you wanted to. You have a choice of another four or five plugins, another
four or five options on top of a website that you already own. Also, if you’re
pursuing SEO. Once you produce a content page and you get onto the first page
most of the time, you stay on the first page for three to four years. So even
with all the changes that Google makes making SEO even though these guys kind
of poopoo it and don’t talk about it all that much. It’s the best option the
reason that nobody likes to talk about it is, it’s just harder. It’s a little
more difficult to do. You’ve got to produce really good content, you got to
drive signals into that content and it just is a more long and it’s lower. So
lead generation companies don’t like to talk about that especially since at some
point you could remove the lead generation and still be making money,
still provide leads for your team and they really don’t like to talk about
that. So in terms of strategy for growth a real estate lead
generation website provider has to lock you in. They have to. It’s part of their
business model and they’re not doing it based solely on performance they’re
doing it on, I own your website you’ve got nowhere to go buddy. So I don’t like
those mechanics in terms of what is in the best interest of the consumer it’s
not in your best interest. Now having said all that if you have a real estate
team that needs to get fed leads today or tomorrow or in the next six months
not even I have a solution besides spending three or four thousand dollars
a month on leads. So it is the best option in a very limited way. What I
would always recommend is that you also spend a small like thirty percent of
your budget on SEO seventy percent of your budget on direct
marketing and you switch those numbers over time. You blend the map, you slowly
increase your SEO budget and slowly decrease your your direct advertising
budget over time and if somebody knows what they’re doing in the SEO category
and I do believe that for the most part these guys do. I just don’t think that
it’s in their best interest to provide these services or focus on it so they son’t.
So this is problematic for you. However, if you wanted to you could do
add the content pages and do a great job on SEO on this site and the exciting
thing is. Is that since these guys have build the WordPress website. If you can
negotiate upfront that your content will be moved if you decide never to use
them again you could actually do fairly successful SEO on a boomtown website and still have some measure of control over your long term marketing prospects. You
could easily transfer this to another WordPress real estate website as long as
they gave you the access to do that. Whether or not they would do that I
don’t know but I personally think that anybody buying this kind of solution for
this kind of money I think it’s a question that you should ask and that’s
why I’m raising it for you in terms of this review. I think it least should be
asked and if every single person whether, even if you didn’t have plans to do this
in the future. I think that every single broker should or real estate team should
negotiate the possibility because nobody has a crystal ball. You don’t know where
you’re gonna go. Boom town, and now I’m going to get into leadership and company
structure. Boom town was founded by Greer Allen in 2006. This is a photo of him
when he was a young man and he was just founding Boom town okay. It’s
located in South Carolina and it is been enjoying explosive growth. It’s been on
the Inc 500 list of fastest-growing companies for something like four or
five years running. In 2017 that’s this year they just for
the very first time ever took on a 20 million dollar round of financing which
is what this is talking about. They’ve expanded their employees from 56 to 96
or 100 and they did that in 2017 and they just took over a new building
somewhere in South Carolina where they renovated a whole warehouse and you can
if you go ahead and read these articles you can go ahead and see find all of
that information for yourself. I’m pulling it from so online sources that
anybody can access. In addition to that when you look at Glassdoor which it
which is something that I look at everything I do a review. Boom town is one of the most reviewed companies in terms of like
people who work there talking about the actual company. Here’s the thing they
absolutely positively have one of the highest ratings from employees and every
single employee says the same thing. It’s a company that you have to come in
and work hard for it’s a start-up culture but everybody’s very dedicated
to their job, everybody tries to do good work and there’s just basically
nothing I mean this person says is not horrible but not what was
promised and they’re talking about no breaks or lunches and pretty much
everybody that works at Boom town says the same thing. You have to work really
long hours so if you were looking for some type of work-life balance this is
not the company for you. Now I’ve worked for three real estate technology
startups four if you count my own and I can tell you from personal experience
this is exactly what you want to see if you are employing a real estate
technology company. So in other words if you’re using their services or you’re
using a real estate website that has been designed and is managed by somebody else You absolutely positively want their employees. They’re servicing
their clients because you’re their client so all of this for you as a
consumer of real estate websites is great news. So I’m sorry to be be callous
about it but the fact that people are saying that they’re working longer
hours and really focused on the mission is great for you. It’s not necessarily
great for them but it’s great for you. In addition to all of that there are famous
examples like Ben Kinney. Who have been using their product and service and
quite literally Ben Kinney attests to, I mean he went from making an average
income to making over half a million dollars a year and he credits much of it
to being able to use the Boomtown platform. So he feels like Boomtown has
been an absolutely critical part to his success. He’s continued to grow, he owned
six technology companies of his own and at this point he’s put up competing
product into the field called brevity which is a blue town light CRM solution
and yet another example of what I was talking about in terms of people that
are developing because brevity does work with WordPress and so as a result. You
have another competing product that can theoretically plug into other solutions
other than boomtown but you will be locked into boomtown. You won’t be using
two CRM simultaneously. So boomtown or Ben has
made his own CRM and he probably feeds the leads that he gets out of boomtown
into brevity and I would surmise that the only reason that he would do
that is because there were pieces of like functionality that he simply wasn’t
getting out of boomtown and unlike most people he had the resources to design
his own solution. Once that solution was designed he turned it into a technology
offering that everybody can use. So I have not looked at it, I have no opinions
on it, I don’t know if it’s good or bad or what it even does.
I’m only saying that I know that it exists. So every single one of
these things is great news. I only have one little note at the end of all of
this. I’ve been doing this a long time I’ve been doing this for ten years
and I’ve just watched consistently there are three real estate technology
companies that just absolutely dominate this interest industry. The company that
owns, the company that owns Trulia and the third I’m forgetting
right now but these are huge conglomerates and they have the tendency
to find fast moving disrupting technologies in real estate and they buy them and they mothball them. An example would be market leader, another example
would be Tiger leads. these companies and there is no amount of money that you can
name that they wouldn’t throw at these particular like disrupting technologies.
Like I think that Tiger leads was purchased for 125 million. I don’t know
what the number was for market leader no I do know what the number was. Market
leader was purchased for 170 million. Neither one of these companies was worth
that much money. They got bought by that much money because these larger
technology interests simply didn’t want to compete
with them. They didn’t like the way they were disrupting the industry. So they
simply took the company, they didn’t focus on it all that much and then a few
years later they sell it for a much less amount of money and say oh it didn’t
work out. That’s not what’s going on, what’s going on is they buy the
company, they don’t necessarily fire all the
employees but they take the leaders that were driving growth and innovation
away from the company because they’ve cashed out and they sign a non-compete
and then those companies stop performing the way that they used to perform and
that right now in all of real-estate boom town is the best prospect for a
buyout. They in 2014 they went to a corporate structure that’s called an LLC
and they then in 2017 took on their first round of financing twenty million
dollars which now means that boom town has investors. They are answerable to
somebody. One of my previous favorite things about boom town is they had never
taken on investors. So they were completely and totally unanswerable to
anybody but themselves and their own mission and now they’re answerable to
investors. Now every single corporate team ever in the sense the history of
businesses says the same thing in terms of investors. They’re silent investors
that’s just simply not true if anything has ever been proven in the world of
business is that if somebody buys a large enough chunk of another company
they absolutely positively have a voice. Now typically when people are are just
selling pieces of their company company especially in technology where its
rapidly growing businesses know investors don’t tend to have a very
large voice but as those businesses grow the money becomes bigger and the
people who are investors tend to be former CEO’s. They’re of major
conglomerates they look at these interests and when the business gets big
enough they start to have an opinion like and sometimes those opinions get
very loud and one of the most popular opinions especially for investors is
let’s sell this business because we’re ending the period of growth. So
there’s always a time in every single rapidly-growing technology
company which boomtown is at the tail end of right now, where they’re growing
by a hundred or a thousand percent every year and boomtown has been growing like
at a thousand percent. It’s grown from one hundred and forty thousand dollars
in its first year, all the way up to something like 25 or 30 million right
now. That’s pretty pretty decent for eleven years all right.
However, when that growth slows, when it becomes less than ten or fifteen percent
because that’s the math. It makes more financial sense to sell the company it
just does and that’s when the pressure starts. So I don’t like the fact that
they took on a round the financing even though we probably will see a lot of
improvements. I think that customers of boomtown probably have another three or
four years on this platform and then I would definitely. I mean I personally and
no joke if I owned a real estate brokerage. I a hundred percent absolutely
positively no question I’m looking to create a secondary marketing method that
is online so that I can back up my production with another solution
preferably one I am in control of, one that I own. The same thing by the way
that Ben Kinney is doing. Like every sharp business person that’s out there is
going to have the same solution to how they handle getting their business
because you don’t ever want to rely 100% on one company especially not a company
that you not only don’t own, you don’t even own the the marketing platform that
you’re using. So, which is pretty incredible when you think about the way
that’s all been designed inside of the real estate marketing industry. So anyway
I’m done. Boomtown though, I again I just want to emphasize it has amazing reviews
both internally and externally. I’ve reviewed a whole bunch of videos on the
way that it performs and I think it gives solid performance. They talk a lot about
SEO and you can see their marketing manager. I’ve put a video of
him Rivers Pierce, he seems to be passionate, he seems to know what he’s doing but they really aren’t just focused on SEO all that much. They do a
little bit for their customers I think as part of their monthly
licensing fee. It’s like a value-add and that’s pretty cool but
they are increasing the value of a website that you personally don’t even
own. You own your domain name but you don’t own the website. Alright that’s it,
thanks for tuning in this is Robert Newman have a great day.

3 thoughts on “BoomTown ROI | Video Review | Real Estate Lead Generation Websites| CRM | Real Estate Leads

  1. Any thoughts about CINC (Commissions Inc)?

  2. Do you know if BoomTown has a feature where my cell phone gets an automatic phone call when a lead comes in? I get an email and a text also.

  3. Very insightful, need to compare your comments to today.

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