Before I give you all of the meat and potatoes of my Market Leader stats from my Vision Site, I would like to describe what a 5 star prospect is to me.

  1. Someone that is willing to engage in a dialog.  Meaning the phone number and or email address has to be REAL, but also they MUST engage in further dialog.
  2. They are FRIENDLY and cooperative when we converse (via email or phone).   Since I still LOVE what I do, it's important to me that I only spend my time with people I like, where the feeling is mutual.
  3. Know what they want, AND have REALISTIC Expectations.  Let's face it, if someone else doesn't even know what they want... how can I?    Secondly, who can really get a 1,000,000.00 home for 25,000.00, right?   Or someone that doesn't 'get'all the facts, when I tell them the truth.
  4. Willing to act within 6 months or less.   A lot can change in a year right?  So, if someone is 12 months out to buy a home, it doesn't mean they are NOT a good prospect, it just means they are not a 5 Star Prospect right now.
  5. They want ME to help them, because they believe I am their best option, and I have clearly communicated the value I will bring them, as well as the advantages THEY will have with me on their team.

So with that being said, here are all of my facts and figures in less than 3 weeks of having this site LIVE.

  • Since December 27th I have 54 Subscribed and Active on my Market Leader site.
  • Today I got 1 new prospect, that had a real phone number and plans to move to Tampa 1 a few months, very friendly and willing to let us help him, very open 5 star prospect. 
  • Today1 person Un-subscribed.
  • Today I met with my 1st real live person that just relocated here from Columbus, OH.  Very nice young couple, very open and receptive to letting me help them, another 5 star prospect.
  • As of about 3 weeks of having this site live, I have received 57 total prospects
  • 54 are Subscribed and ACTIVE.
  • 9 are Actively re-visiting the site on a regular basis, but we have not make a personal connection, even though we have sent very personable emails and tried to reach them via phone. 
  • 38 are Inactive.  They have visited only once, and not responded to emails or phone calls / messages left.
  • 7 are HOT prospects.  We have engaged in some kind of a dialog and they want to buy relatively soon.
  • 2 are trash. No phone number and or a bad email with no way to connect with them.
  • 1 has UN-SUBSCRIBED, just today.

Below are the stats that Vision will give you at the click of a button (under the Performance Evaluator).  Here my team and I have discovered that we need to contact the prospective client as quickly as possible.   Also, if you do not make notes in the system, your bottom number will be effected, (like it is below) causing your stats to be inaccurate.

Jenn,   Thanks for giving me those stats. "According to NAR, there is a 72% success rate of turning a web prospect into a client if live contact is made within the first hour after the prospect's visit. After 4 hours, the chance drops to 29%."

Vision
Return to Main Page
Summary
Your Performance Evaluator.

Summary:
You have a total of 54 (subscribed and active) prospects. Based on this number of prospects, here are your performance statistics:

Please note that if you have been on the system for over a year, your numbers will trend lower due to the large number of inactive prospects.



You should have at least 11 active & hot prospects.
Based on the experience of most agents using this system, you should have 11 prospect(s) that you feel will close in the near future. They are actively communicating with you and/or physically coming into the office.

You have 15 active & hot prospects.



You should have at least 1 sold prospects.
Based on national statistics, for every 100 prospects you should sell at least 1 property. This means you should have 1 closed sales. Some agents sell as high as 5%, depending on salesmanship and market conditions. Please move ALL prospects you have closed into the sold category to keep this number accurate.

You have 0 sold prospects.



At least 15% of your prospects will need help finding a lender.
Our data shows that many consumers need help finding a lender. Make sure that you have followed up with an offer of assistance to all the prospects in your database who have requested to be pre-approved for a mortgage.

2% of your prospects requested mortgage information.



At least 15% of your prospects should have listing alerts.
It is VERY important to have your prospects signed up for listing alerts so that these prospects keep coming back to your website. This will dramatically increase the likelihood that you will ultimately work with them on a transaction.

76% of your prospects have listing alerts.



At least 50% of your prospects should have comments.
If you don't keep track of the important information about your prospects, you reduce your ability to provide good customer service. It takes a little time, but the more information you collect about your prospects, the more likely a transaction will come out of them.

100% of your prospects have comments.



At most, 15% of your prospects should have unsubscribed.
This is the percentage of your prospects no longer wanting to be contacted. Prospects unsubscribe for two main reasons: 1) They are no longer interested in receiving information, or 2) You have overwhelmed them with too many emails. Please note that when you move prospects to the Trash folder, this action unsubscribes them from emails. If you have prospects you are not actively working with but you do not mind if they continue to receive listing emails, move them to the Inactive folder, not the Trash folder.

4% of your prospects have unsubscribed.



At least 90% of your prospects should have been contacted within 12 hours.
We assume you call all prospects with phone numbers. Of the prospects without phones numbers, this is the percentage you contacted within 12 hours. To increase this number, use the initial contact wizard as soon as you get a new prospect. Remember, the longer you wait to contact a prospect, the less likely he or she will become a client. Not every real estate agent will have a 100% contact rate. There are always exceptions, such as when a prospect comes in the middle of the night. Do your best, and use this number as a guideline.

-7% of your prospects have been contacted within 12 hours.



Want more info on what's going on with this site? Simply subscribe to my blog for further updates.

 
Post is included in group: Night Owls in the Rain
Post is included in group: Active Rain Newbies

12 Comments on Market Leader update week 3

JAN
22
225,755 Points 1 Featured Post Outside Blog

Hi there!

I was always seeing the advertising of market leader on here at active rain real estate network and was always wondering how it was working for other agents!  Good to see some results!

Thanks

Tom Davis

11:55pm • #1
421,598 Points 2 Featured Posts Localism Sponsor Outside Blog

Thanks for sharing these stats. They're better than when I used this company under their old name...

11:59pm • #2
JAN
23
362,681 Points 16 Featured Posts Outside Blog

Katrina - we are signed up and ready to go - waiting for an area mix up to be cleared from their end. You have some good numbers. I see others with many more bad numbers and e-mails. ~Rita

12:07am • #3
424,975 Points 81 Featured Posts Localism Sponsor Outside Blog Hit Router

Very encouraging, Katrina - I just wrapped up Week 1.  I see from the comments that Kenna & Company is having the same issue I did - with the areas.  I'm hopefuly things will pick up, now that areas are resolved.

12:34am • #4
288,190 Points 4 Featured Posts Localism Sponsor Outside Blog

Hey there gorgeous. Very interesting blog about Market Leader. I live in Podunksville so can't try their program, but love reading how it's working for others.

1:22am • #5
124,211 Points 1 Featured Post

Thank you so much for sharing your information.  I think a real key in getting a prospects attention is a quick response time.  I would shoot for responding within an hour if the leads are coming in during business hours.  I look forward to hearing an update in the near future.

1:58am • #6
1 Featured Post

Hi Katrina!  Wow, I'm very excited for you - those are very strong stats!  I love your definition of the "5-star" prospects.  Now if only every prospect was a 5-star...

 In terms of the ICW stats, I believe this what you're referring to:

"According to NAR, there is a 72% success rate of turning a web prospect into a client if live contact is made within the first hour after the prospect's visit. After 4 hours, the chance drops to 29%."

 

12:47pm • #7
2 Featured Posts Localism Sponsor Hit Router

Hi Katrina, I am encouraged as well by your statistics.  I am just in the beginning stages with Market Leader, got my domain name today!  I am anxious to compare their program to Homegain (hope it is okay to say a competitor name).  I've used Homegain for years and pay for abou 175 hits, get about 20 registrations a month that are real and get maybe a warm body or two every month.

 

7:17pm • #8
JAN
26
1 Featured Post Localism Sponsor

Katrina- Did you have a goal or are you experimenting? Do you feel as if you get enough information or valuuable information?

12:47am • #9
153,252 Points 2 Featured Posts Outside Blog

Tom - I will continue to post regular updates here so feel free to subscribe to my blog.   Thanks for your comment.

Vickie - I believe the changes are quite different than before.  I have not closed anything yet from this site, but so far the traffic is good.

Rita - I should spend more time checking out what others have going on with it.  I am pretty good at lead conversion and my internal systems combined with support staff help us stay on top of follow up.  Thanks for commenting.

Margaret - I had a few hiccups too when I started, but they seem to be really good at resolving them quickly.  My biggest problem was the time period it too my MLS to get IDX integration complete and stuff like that, but it was also during the holidays.

Susie - Perhaps it will be there at some point,  In the mean time keep up those live-personality in your blogs shinning as bright as you do.

Troy you are right on, with my new BlackBerry it should make response time better than before.  Most of my days are spent in the field with clients.

Jenn - That is EXACTLY what I was looking for!   Thanks for adding this I will modify my BLog with this info!  THANKS!!!  I am working real hard to convert the good leads we are getting and am still waiting to see when my 1st one closes, some are still a year or so out....

Cindy - WOW  that's amazing.  I don't do a TON of business out side of referred business, but about 9% of my business comes from the web or local sign calls.  91% is referral based.   Looks like that number might drop more because of the leads I am getting from this Growth Leader site.

Eloise - Nope, no goals (as of yet) no expecations, simply experimental at this time.  At this time, I am still in the evaluation stages of this product, so subscribe to my blog so that you will get regular updates and see how I am progressing with this. 

The information I have been receiving so far is pretty good.  I don't worry about bad phone numbers or email addresses, I ONLY concentrate on the GOOD ones that are 5 star prospects.

My general rule of Thumb is Treat EVERYONE like a 5 star prospect, until they prove they are not.

Thanks everyone for visiting and your comments.  I do hope you come back real soon :)

6:57am • #10
JAN
31
221,495 Points 1 Featured Post

Katrina - another informative post - I love reading these!!!

1:22pm • #11
MAY
30
Localism Sponsor Hit Router

Thank you for yourcomments. I am checking it out

Kieran

2:43am • #12

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Tampa Real Estate | Tampa Florida Homes Property for Sale MLS | Katrina Madewell

Tampa, FL

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Charles Rutenberg Rlty- More than 5,000 agents(813) 777-1196

Address: http://www.TheBestHomesInTampa.com, http://www.KatrinaMadewell.com, Tampa, FL, 33607

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