Capturing leads is a piece of's the conversion that matters most

Real Estate Broker/Owner with Mitch Ribak - The Real Estate Success Network

Have you ever wondered why some people on here are very successful with Internet leads and others seem to have no idea what to do?  Capturing leads, even though not done very well by most, is extremely easy.  You can do pay per click marketing and by tomorrow have a good amount of leads...if you have the right capture tools of course.  However, it really doesn't matter how many leads you receive, it's how many buy or sell a home from you.  I like to call it "creating a customer for life".  

So why is it that someone like our office can close 311 online transactions last year and other companies close 3?  Could it be because we generate 10,000 leads or so each year?  Possibly.  Could it be because we have a solid follow up system utilizing both email and phone calls? Most Definintely! 

The reason most Agents and Brokers fail in the Internet space is lack of a system to both follow up and maintain leads.  This past year 20 of our sales came from leads that were 4 years old.  How many Agents would spend 4 years actually following up with a customer?  Not many. I think a lot of it comes down to attitude. Our Agents have the attitude that we have 4-6 months to create a great relationship where as most Agents will look at a person not buying for 6 months and say, give me a call when you are ready.  Are you one of those Agents?  If so, we need to give you an attitude adjustment asap!  

The question is, how do you learn something that most people don't understand and very few people have mastered.  Of course you could always join The eHomes Realty Network which teaches a step by step approach of our 100MPH Marketing System.  This is our lead conversion system my Brokerage, Tropical Realty of Suntree, has used to grow 20% each year even in this market.  Or, you can read a ton of blog posts and try to figure out who is the most successful with lead conversion and model your business after their business.  The problem of course is to be sure you are learning from the right person.  When I get a call from a company trying to sell me anything with regard to online programs, I always ask them if they have any real estate experience and if they do, I ask them why they are selling the product instead of using the product if it is that good.  I haven't received to many answers when I ask!  Always ask vendors how they know that their program is successful.  For instance, I know my system works because I use it every day.  I have numbers and stats to back up my claims.  Most of the vendors that call me can't really prove their claims.  

Ok, what is the most important aspect of lead conversion?  It's simple!  Give the customer what they want.  Consumers come to your website for one thing and one thing only.  To look at listings.  If you don't have an IDX solution on your site, you are missing the boat.  If you have an IDX solution and and don't require people to register you are missing the other boat.  If you are not following up leads you receive, both with or without phone numbers, you missed all the boats and you are just treading watter.  

Just one more quick note.  I can't believe how many people I talk to that do not work leads that have no phone numbers.  25% (about 75 last year) of our sales come from leads with no phone numbers each year.  The number has been consistant each year.  Be sure to work each lead as they are going to buy.  The reality is, even if you are great at least convesion, you will most likely only sell 2-3% of your leads a home.  Of course this number is based on raw leads, not people we have built a relationship with already or that we have talked to.  You must keep your eye on the ball and you must treat all leads equally at first.  Create a system that will include both email drip campaigns and phone call follow up.  Give the customer what they want and need.  Do not give them fluff as that's a sure fire way to lose a customer.  

If you need help, don't hesitate to ask.  There is no reason to go another year without using the Interent to generate sales.  As an individual Agent you should be setting a goal of 24-36 sales each year from the Internet.  A good system will easily prodcue these results.  Good luck!


Comments (1)

San Antonio Texas New Homes for Sale - San Antonio, TX
Berkshire Hathaway HomeServices Hill Country

Mitch, Some good info...Thanks

Feb 14, 2010 03:23 AM