When it comes to selling real estate online there are a lot of different opinions on how to follow up on real estate leads. Since there is always a cost involved for lead generation itis important to make sure we close the maximum number of leads and convert them into home sales. Here are some useful tips that will make sure you get the most for your investment online.
Lead Statistics
Lead Statistics
The first things we must cover are the statistics or what to expect from Internet based leads.
In my experience from working with thousands of agents the average closing ratio for Internet based leads is about 3%. That means you need somewhere between 35-40 leads to find one buyer who matches the search criteria and is motivated to buy in the next 30-60 days. The sooner you can generate these kinds of numbers the faster you can sell homes online. If you have a website getting about 10 leads a month then you are on pace to sell 3-4 homes per year. If you want to sell more homes then you need to generate more leads. Some websites do a better job with lead capture than others and I have discussed some of that in past blogs and will go into more detail on that in the future. If you are only getting 10 leads a month and you say they are all bad, there is that chance, since you need about 35 on average to close a sale. They will not always be "bad" so be ready for some good ones to come in as well.
In my experience from working with thousands of agents the average closing ratio for Internet based leads is about 3%. That means you need somewhere between 35-40 leads to find one buyer who matches the search criteria and is motivated to buy in the next 30-60 days. The sooner you can generate these kinds of numbers the faster you can sell homes online. If you have a website getting about 10 leads a month then you are on pace to sell 3-4 homes per year. If you want to sell more homes then you need to generate more leads. Some websites do a better job with lead capture than others and I have discussed some of that in past blogs and will go into more detail on that in the future. If you are only getting 10 leads a month and you say they are all bad, there is that chance, since you need about 35 on average to close a sale. They will not always be "bad" so be ready for some good ones to come in as well.
You have to know what to expect in order to do the job right and have the right frame of mind for success. Getting emails is NO DIFFERENT than being an agent taking calls on floor duty. You may have to answer the phone 25-40 times before you find a qualified prospect that is not just calling for listing information but actually needs an agent to help. The Internet is no different, you need to go through the numbers and "sort" your leads. To think that you are always going to get just "good leads” and that you only want just "good leads" is a fantasy trip you need to play out on a different consultant. My attitude is get off your "___" and start calling leads just like any other salesperson on the planet. No one in the office says "I only answer phone calls from qualified buyers", and the Internet is no different.
Here are some important tips on how to follow up on your Internet based real estate leads.
1. Call your prospect - There is NO SHORT CUT on this if you are a serious salesperson. The Internet is impersonal and you must put a voice and a personality into your presentation. Nothing beats calling your prospects.I have some agents who are very motivated and call every lead and I have some agents who hate telemarketing that I try to work with. If you want to maximize your closing ratio on Internet leads then pick up the phone and try to call the prospects as soon as possible. Some agents can call sooner than others but the benefits of calling right away are that your contact rate is MUCH HIGHER and the person has their mind on selling real estate and not taking kids to soccer etc.....
1. Call your prospect - There is NO SHORT CUT on this if you are a serious salesperson. The Internet is impersonal and you must put a voice and a personality into your presentation. Nothing beats calling your prospects.I have some agents who are very motivated and call every lead and I have some agents who hate telemarketing that I try to work with. If you want to maximize your closing ratio on Internet leads then pick up the phone and try to call the prospects as soon as possible. Some agents can call sooner than others but the benefits of calling right away are that your contact rate is MUCH HIGHER and the person has their mind on selling real estate and not taking kids to soccer etc.....
If you are a broker who provides leads for your office you MUST have a "Lead Follow Up" policy to make sure that the leads you are paying for and giving to agents in the office get a maximum return. DO NOT EVER let agents tell you they "sent an email", as a valid response to lead follow up. 99% of real estate websites send out an "auto response" email that gives a nice thank you and buys time for you to get back to the prospect with a phone call. Email follow up and hand written notes are great AFTER you make phone contact, but to waist 20 minutes or a half hour sending emails to someone you have never spoke with is not the way to go. The closing ratio of calling leads is 3%+, the closing ratio of emails is LESS than 1% on average. Spend your time doing what brings the best chance for success. Never leave a "Dead Message"Do not ever call and say "Hi I saw you visited my website, call me back if you need help". Always offer MORE INFORMATION"Hi thanks for visiting my website, in addition to what you saw online, there are additional listings that I think you would like that I can show or email you....Call me when you get a chance or I will try you back.... If you do not try to call the prospect at least 3 times then you are losing money. There are a lot of misconceptions about lead follow up and thinking you can just "leave a message", and not try them back again is a big one.
A common sales strategy is the 3 strikes and their out rule.You try to call the client and leave 3 messages. If they do not return the call then throw them on your mailing list, auto responder or monthly newsletter. Try them at different times of the day to ensure the best results. Remember these are real leads of people who came to your online office. Treat them just like they came into your brick and mortar office and provide them the information they are looking for.
If you are a serious salesperson then call your leads and stop whining or complaining if "you get a bad number", the person was not interested", etc...you ONLY have to make 15-20 calls on average to sell a home that will pay you 10x more than what any other telemarketers are making calling their prospects. You are a salesperson so get out and sell and stop whining about picking up the phone. For people that you cannot reach or who are past 4-5 months from making a purchase then find a good newsletter software program and keep your name, face and phone number in front of them in the meantime. If you are looking for a web based email program that is easy to use and can send out custom web based emails then try the link below. This program provides a free 60 day trial so you can see how it works before spending any money.http://www.dpbolvw.net/click-2707690-1668329
2. NewslettersI like newsletters because they contain new listings and updated information on the marketplace for the prospect to look at and click on. You can also personalize the emails so they can get to know you a little bit as well. Pictures of kids, dogs, family and new listings and market information sent out over a 6 month to one year time will also bring results and help develop a "personal connection" with the prospect.
3. Auto respondersAuto responders also have value in trying to get response from real estate leads, however I find that many agents use this as an excuse not to call their leads and that is a big mistake. Email marketing is not as effective today as it was 5 years ago primarily because there is so much spam now. Also emails however well written NEVER substitute themselves for you being on the phone and talking to a prospect. They can get a much better idea of who they are dealing with by phone than by email. Auto responders can be good in delivering home buying tips and selling tips and also for providing links to have prospects click on and revisit your website. Auto responders are also good for leads that do not provide a phone number or an inaccurate one. These systems will send out emails over a 3-12+ month period trying to get the prospect to come out of their shell and contact the agent. There is a program from Get Response that provides a FREE auto responder program you can set up for those leads you cannot reach via phone. Check out the link athttp://www.GetResponse.com/index/realestatemarketingnerds
In summary there are a lot of ways to follow up on Internet based real estate leads and you want to make sure you do the best job in getting a return on your investment. By knowing what to expect and what works best for top producing agents, you can maximize your time and efforts by using some of these tips.
If you are a broker make sure there is accountability and a set lead follow up policy in place for agents. It helps you both make more money and reduces frustration or excuses for not being successful. If you are a super busy agent, then focus on just calling leads 120 days or less of making a purchase and focus your time with the leads that have the highest priority. Remember you need on average about 35 leads to sell a home.If you are only getting 10 leads a month understand you are on pace to do about 3-4 deals a year. If you want to sell a home a month then get a website and marketing system in place that can produce 30-40+ leads.
The one thing that buyers online really want is1. An agent who is personal and CARES ABOUT THEM. An agent who is professional and can do a good job
By calling your website prospects and letting them know that you are caring, professional and able to serve their needs, your websites sales will soar and you will see your business grow!
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