Special offer

Why internet lead conversion is really a lot like any other phone call!!!

By
Real Estate Agent with Real Estate Places CA BRE #01802964

Ok, so there are always a lot of talk about how paying for leads is a waste of money, I see people almost getting strung up for it. 

Here is the reality, if you can convert calls from a sign in a yard somewhere, you can convert internet leads too. 

Why is it so bad to pay someone for leads? Probably because some folks don't have the tenacity required to follow up with the leads. However, in reality, THAT, comes back to one thing, if you don't follow up to convert an internet lead, I doubt you are going to follow up on phone leads. So while folks are complaining about this, keep this in mind, in the time it will take me to write this piece, I can call back 3 leads and get 1 or 2 of them into a system that will help me talk to them everyday (HV/JL works pretty good). 

What happens?

Example, sign call yesterday on one of my listings - can I see it? Call back in 2 minutes "wow, you are good" we know this response, because everyone has had it sometime, but what if it is everyday?
Follow up, showed the property, now what he wanted, looked at the one down the street - YES. Coming back this am to make offer. And this is a cash buyer I did not have on Monday!!!

Scenario 2. Internet lead, Ping goes the mobile (well, more like buzz, I suppose)... Call back in 3 minutes - "I need to do something, I am upside down and can't stay"... Ok, so stay in touch with the seller and have a short sale listing. 

The key is, connect with the prospect, convert the prospect and have a client. 

Let's get back to what really blows my mind, ANY decent coach will tell you to have at LEAST 5 good lead generation systems in place for your business. Open houses, ads, signs, door knock in your farm and something else (ok, a good coach would include expireds, but that is just too easy, so I am not going to tell you about that one )... So, this means what you have is a mixed bag of tricks bringing you new business... Which any business would have. 
Buying leads simply becomes another tool in that bag, and as any lead that shows up, you have to follow up on them, if you don't have a plan and a system in place, you are going to be running a lot faster than you really need to. 

Unfortunately it comes down to one thing - and one thing only - you still have to work. 
Sorry folks, I know you are trying to get out of that one.

 

For other methods of converting internet leads, be sure to check out giftofshift.com/activerain where you can purchase a limited edition hardcover of Gary Keller's book SHIFT, which comes with a free version of the eBook Soci@l: Attract Friends, Followers and Connections to Your Business, written by Ben Kinney and Jay Papasan (in which Ben shares his 'ten days of pain' lead conversion method) as well as free audio versions of Millionaire Real Estate Agent and Millionaire Real Estate Investor all for $19.99.

Joseph Welusz
QuoteMatcher.com - Evesham Township, NJ

Like you said Terkel buying leads should be seen as just another advertising expense.  They all won't pan out but if you only buy a few at low cost and mix it in with all other advertising it makes sense.

Jan 06, 2010 01:18 AM
Lisa Walston
Atlas Property Group and Abbey Church Properties - Greenwood, IN

Just like a good carpenter, or a great chef, you must thoroughly understand your tools. You wouldn't expect a hammer to do the job of a saw or a cleaver to be a colander. Understanding and realizing the limitations and benefits of every tool in the box is key to utilizing them effeciently and effectively.

Jan 06, 2010 01:22 AM
Cheryl Kuzniar
Prime Property Solutions - Niskayuna, NY

Hi Terkel,  I was really hoping that I would be able to sit back and let my leads work for me!!!  LOL  Great information.. Thank you for the input!

Jan 06, 2010 04:20 AM
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

Hey Joseph,

You are right, conversion is not an issue with the source of the lead, rather, it is an issue with the person who is trying to convert... If you don't do it right, it is never going to work - in which case it would be a huge waste of money. 

Jan 06, 2010 06:14 AM
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

Lisa, I could not have said it better. I am finding it a bit odd that there is such a dislike for hard work in this industry, but maybe that is where some people get separated out?

Jan 06, 2010 06:19 AM
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

I know Cheryl, I have been researching that one too - so far I have not found a whole lot of good solutions to just sitting there and waiting - while it just makes itself money... If you do figure out it, please let me know though.

Jan 06, 2010 06:26 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

Good advice Terkel. You certainly have to work on leads, but the quality of leads I have purchased has been very poor.

Jan 06, 2010 02:31 PM
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

Wayne, 
That really hits it on the head, I have had lead services send me folks who purchased 2 months prior... Ya, still wondering about that one, not to mention that they sold the leads to 5 different Realtors... 
Personally, I went through a good pile of different services and settled on a few that seems to consistently deliver some level of quality. 

The most important thing though, is always to work them as hard as you can. 

Jan 07, 2010 03:25 AM
Cameron Norfleet
Century 21 ACCESS AMERICA - Meriden, CT

I agree 100%! You've got to have multiple successful strategies (multiple streams of income)!

Jan 10, 2010 08:35 AM
Irene Tron
Valparaiso, IN

You have made some great points.  So often, agents drop the ball with those leads and do not follow through. 

Jan 10, 2010 02:19 PM
Eddie Arnold
Real Living HER - Canal Winchester, OH

I agree. In order to be successful in this business, no matter what you have to work hard.

Jan 12, 2010 06:20 AM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Des Peres, MO
SelectAnn.com

Terkel,

Oh not the four letter word......WORK!

Ann Hayden in Wildwood, MO

Jan 12, 2010 07:51 AM
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

HA... Yes Ann, THAT four letter word... Get used to it. :-)

Jan 12, 2010 08:18 AM
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

Eddie,

That attitude will take you a long way you know.

Jan 12, 2010 08:18 AM
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

The key on any lead is actually following up. You need to have tenacity because oif you don't someone else will.

Jan 27, 2010 11:47 PM
C. Lloyd McKenzie
Living Albuquerque - Albuquerque, NM
Living Albuquerque

Terkel,

Thanks for the post. Very well said

Feb 20, 2010 06:11 PM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Des Peres, MO
SelectAnn.com

Terkel,

Yes, that is one word I know well!!

Ann Hayden in Wildwood, MO

Feb 22, 2010 12:00 PM
Terkel Sørensen
Real Estate Places - Temecula, CA
Realtor, 951.805.0773 , Bank owned and Short Sales

Good thing Ann,

that will keep you out of the "going out of business" mindset so many people thrive on these days. 

 

Feb 22, 2010 12:21 PM
Ann Hayden 636-399-7544
Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Des Peres, MO
SelectAnn.com

Terkel,

Work is something many seem to forget is necessary to make it in this business...

Have a great day,

Ann Hayden in Wildwood, MO

Feb 25, 2010 03:36 AM