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Understanding Buyer and Seller Lead Times
Perhaps the biggest misconception in real estate is that Internet leads are worthless. The root of this nasty little rumor likely comes from the average length of time between lead generation and actual conversion.
Why the long gap? With the advent of the Internet, we're now seeing leads showing up in our funnel sooner. Customers have always completed the research phase, even before the days of the World Wide Web, but before they needed to do some footwork to get the info they wanted. Now, your website is that online library they've been searching for (if you are doing it correctly that is!). Your relationship with the lead now starts long before they actually need us for a transaction.
Transitioning to keep up with these new consumer behaviors is crucial for actually converting leads. In order to help you better understand this, we've put together a buyer and seller timeline to show you that your online leads don't suck...they are actually right on schedule!
The Real Estate Seller Timeline
Phase One - Pre- Research
This phase lasts (on average) 13.1 months and is the very beginning of the thought process.
Phase Two - Active Research
This phase (lasting an average of 2.7 months) is when leads will start finding your relevant content ... more
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