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A recent study of real estate brokerages showed that roughly one half of all consumer leads were ignored for more than 8 hours! Can you imagine being an internet customer and wanting to interact with a company online, but having to wait for more than 8 hours to get a reply? I don’t think so.

But this is not a surprise to me. I have been seeing this for years in the real estate business, and I suspect your market area might be just as broken. Internet customers have a low tolerance for waiting, and that is why my company works very hard to respond to an internet customer’s request for information in five minutes or less!

The study sent 715 web-form fills to 56 large multi-office brokerages, divided between agent-specific and IDX leads. Bradley Miller, founder and president of One Cavo, says agents failed to respond to 46 percent of leads or responded an average of eight hours after the forms were submitted.

I have conducted studies of both my company and many of my competitors and can tell you that it is a worthwhile exercise for any company which hopes to gain business from the internet. The average response from my company, during business hours, was less than 15 minutes, while the average response time from the competitors that I chose was more than a day. This was good news for me!

How To Evaluate Your Customer Response Time

Follow-up With Internet CustomersIf you really want to know how to evaluate your internet customer response time, just go to Google and create a few email addresses that have no identification about who you are. Then set-up a schedule to request information from your real estate website at random times during the day. The results just might surprise you.

Most internet customers want information fast, so do not be tempted to establish an auto-responder as your primary response mechanism. They will see right through that and move to another service provider that values them as a live, ready customer. Remember, business has moved to the internet, and it’s a very competitive field out there, so make sure that you lead your niche in internet customer response time.


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Joe Manausa, MBA
Century 21 Manausa & Associates

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12 Comments on Why Real Estate Agents Are Losing Online Business

JUN
04
2011
1 Featured Post Outside Blog Attended Rain Camp

Agents need to realize that we have to strike while the iron's hot!  Otherwise there will be another agent in the "on deck" position just waiting to serve the online clients.
7:42am • #1
653,841 Points 105 Featured Posts Outside Blog Called Shot Master

Absolutely right Randy. If you won't help them now, they will look for someone who will. The days of responding tomorrow (when it is convenient for you) is over.
7:45am • #2
1,950,282 Points 478 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

This is so easy.  The buyer found you on the Internet, they can find someone else on the Internet.
8:00am • #3
556,002 Points 31 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Joe,

Your post sends a cold chill up my spine.

I am one of the late reponders you are writing about.

Thanks for the post

PHil
8:00am • #4
Outside Blog

If they found you on the internet, chances are that they have also found 10 other Realtors on the internet, and they are speaking to all of you. The days of immediate gratification are upon us. 
8:21am • #5
312,880 Points 3 Featured Posts Outside Blog Called Shot Master

You snooze you lose! they will move on.  Systems need to be in place thats for sure.   Great reminder for all of us.  You see a new lead, act on it asap. 
9:05am • #6
475,410 Points 15 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

In today's competitive market with limited buyers it doesn't make sense to not respond to internet leads immediately.  
9:56am • #7
395,404 Points 1 Featured Post Called Shot Master

You must've offered suberb training to establish the IRT in your brokerage Joe.  Wherever I venture on the web, needing information, if their Immediate Response Team is on break so will be my further communication there. 
12:00pm • #8
JUN
05
2011
653,841 Points 105 Featured Posts Outside Blog Called Shot Master

It's never to late to learn Phil, we've all been there!
8:28am • #9
653,841 Points 105 Featured Posts Outside Blog Called Shot Master

Amen Lenn. I know I'm that way as a consumer too!
8:28am • #10
653,841 Points 105 Featured Posts Outside Blog Called Shot Master

The "quick and the dead" right Kim :)
8:29am • #11
653,841 Points 105 Featured Posts Outside Blog Called Shot Master

I like the IRT acronym Kevin, might have to do something with that ....
8:29am • #12


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Joe Manausa - Tallahassee Real Estate

Tallahassee, FL

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Century 21 Manausa and Associates

Address: 1140 Capital Circle SE #12A, Tallahassee, FL, 32301

Office Phone: (850) 386-2001

Cell Phone: (850) 508-1544

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