AI Powers Real Estate Success: How One Agent Used AI to Generate $2 Million in Sales
Key Takeaways:
- Russell Mortlock, a realtor in Kelowna, BC, used AI tools to automate his marketing, generate leads, and improve client communication, resulting in a significant increase in sales and a reduction in marketing expenses.
- Mortlock leveraged AI to create targeted marketing campaigns focusing on specific demographics and needs, such as luxury home buyers and those looking to downsize.
- By automating tasks like video captioning and social media posting, Mortlock freed up time to focus on building stronger relationships with clients, leading to increased repeat and referral business.
AI-Driven Marketing: From Struggling Agent to Top Performer
Russell Mortlock’s story is one of remarkable transformation. After a successful career in industrial trades, he made the leap into real estate. Despite initial success, his business faltered, leading him to work grueling hours with limited results.
“I was working like 90 hours a week doing every single way that you could prospecting. I was doing FSBOs, expired listings, open houses, Google ads, Facebook ads. I was trying to create a networking group, door knocking. Whatever way you can do prospecting, I was doing that,” said Mortlock. “I’m literally working harder than I ever have in my entire life and having no sales.”
The turning point came when he embraced AI. Mortlock applied AI to his marketing, implementing strategies that proved highly effective in targeting specific client segments, particularly in the luxury real estate market.
“I was using Chat GPT to make content, make me follow-up campaigns, make me things that’s specifically targeted toward people who want to buy waterfront properties, want to buy luxury properties in Kelowna,” explained Mortlock. “I’ve read every single marketing book out there. I think about this stuff all the time. But a lot of times when I go to do these marketings, I forget about the most key principles that you need in order to convert these people.”
Mortlock’s use of AI resulted in achieving seemingly impossible milestones. He successfully generated over $8 million in sales for three properties within a single month solely from online leads.
“We did the impossible,” said Mortlock. “Everyone who wants to get into the luxury market, I was getting challenged on: ‘You can’t do it through online leads.’ Well, in one month we sold three properties totaling over $8 million from online lead generation.”
AI as a Tool for Efficiency and Client Engagement
Mortlock emphasizes that AI is not a replacement for human interaction. Instead, it’s a tool that enhances efficiency and strengthens client relationships. By automating repetitive tasks, AI enables realtors like Mortlock to spend more time building connections and providing a personalized client experience.
“It’s not taking me 20 hours a week in order to make all my social media content, my YouTube content. I’m able to instantly make my Instagram videos, and it doesn’t take me 3 weeks to make a Facebook ad,” explained Mortlock. “I can get Canva to do all my posting while I’m waiting for a client in a showing.”
Mortlock’s strategic utilization of AI extends beyond lead generation. His adoption of AI-powered tools like Chat GPT allows for comprehensive due diligence on strata documents, ensuring clients are fully informed and eliminating concerns that might hinder a sale.
“I can upload the strata documents into Chat GPT. I can ask it a question: ‘Hey, can you please compare the financials of this year to last year?’” said Mortlock. “It gives me an entire financial summary,” he said. “It then gives me a graph that I can email to my clients.”
From Marketing Costs to Client Connections: AI’s Impact
Mortlock’s AI strategy has created a significant positive impact on his business. He reported a 52,000% increase in content marketing effectiveness, a reduction in marketing costs, and improved lead conversion rates.
“I saw a 52,000% increase in my content marketing,” said Mortlock. “I’m getting leads at a cheaper cost and converting them higher. Skill development: No longer do you have to be a marketing guru or a graphic designer. We’re all on a level playing field now if you learn how to use it. And it’s bringing joy back to be a real estate agent.”
AI as an Agent for Growth in Real Estate
Russell Mortlock’s journey emphasizes the transformative potential of AI in modern real estate. By leveraging AI tools for automation, targeted marketing, and client engagement, he has achieved remarkable success while freeing up time to build stronger relationships. His story highlights the importance of embracing AI not as a replacement for human expertise but as a valuable tool that empowers agents to grow their business, enhance their services, and ultimately achieve greater success.