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80% of sales are made on the <?> time you make contact with a lead...

By
Real Estate Agent with Chris Alston (Keller Williams Realty, Silicon Valley, California) 01338415

StatisticsHmmm...  Wonder what the answer is

2% of sales are made on the first contact...

3% of sales are made on the second contact...

5% of sales are made on the third contact...

10% of sales are made on the forth contact...

80% of sales are made on the fifth to the twelfth contact...  Yep...  5th through the 12th time you try to make contact and close the lead...

So how many times are you trying before you give up?  Did you know if you just make a little bit more of an effort on a daily basis, you will be doing more than most agents in this market?  Even if the market is not as strong as you want it to be, there are so many agents that are paralyzed with inaction that by you doing some extra work will feel like there is more for you!   Just because the people you are trying to convert do not want to commit to working with you right now, doesn't mean they are saying no...  They are more likely saying "not now", so you need to be there when they are ready to go. 

48% of sales people never follow up with a prospect...  Do you want to be part of that 48%

Chris

(These stats were handed out today as part of a lender update to remind us what we need to be doing on a daily basis.  I do not know the accuracy of the actual stats, but they seem to be pretty right on...)

(I also think these stats relate to all people that we meet on a daily basis.  The more we get to know our leads, the more the relationship gets built.  So over time, we have a better chance at converting them)

 

Posted by

 

Chris Alston

 

Home sales and purchasing specialist

Keller Williams Realty, Cupertino

19400 Stevens Creek Blvd, Suite #200

Cupertino, CA 95014

408-850-6955

408-850-6956 fax

calston@kw.com

www.LivePlaySiliconValley.com

 

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Comments(182)

Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Randall - Yup!  The cream rises to the top!

Jan 25, 2011 03:24 AM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Debbie - Sounds like a plan!

Jan 25, 2011 03:25 AM
Leanna Scott
Leanna Scott Homes - Palo Alto, CA

Repetition of communication=familiarity=trust=successful purchase/sell.

 

Leanna

Jan 25, 2011 04:30 AM
Paul Armstrong
Realty Network - Laguna Hills, CA
Serving Orange County & The Long Beach Area

Great point Chris!

Jan 25, 2011 08:11 AM
Ann Dail
Baton Rouge Area Homes, Louisiana, USA, 225-761-0551 - Baton Rouge, LA
Broker/Realtor,CRS, ePRO, SRS, B.A.Chem

Great point, espec8ially for new agents or those who want to improve their lead closing in other than warm market.

Jan 25, 2011 08:54 AM
Mike Henderson
Your complete source for buying HUD homes - Littleton, CO
HUD Home Hub - 303-949-5848

So very true.  Keep calling until they buy or die or say leave me alone.

Jan 25, 2011 04:56 PM
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Yep, persistence is the name of the game. It is not a lead until we are able to convert the lead to either a buyer or seller. If one doesn't follow up on the lead, someone else will convert it for you.

Jan 26, 2011 03:01 AM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Leanna - I like it!

Jan 26, 2011 03:13 PM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Thanks Paul!

Jan 26, 2011 03:16 PM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Sooo true Ann!

Jan 26, 2011 03:25 PM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Mike - I agree!

Jan 26, 2011 03:28 PM
Margaret C. Taylor
Century 21 New Millennium MD - Mechanicsville, MD
St Marys/Calvert/Charles MD Real Estate Agent

Thanks Chris,  I needed this.  5-12 contacts you say.  OK I'll keep on trying.  Interesting, just today I had a call from a lead whom I've been calling once a week with no response.  I've been leaving a message even though some don't agree with this.  Anyway she apologized for taking so long in getting back with me and said she was Ready now!  You just never know.  Margaret C. 

Jan 30, 2011 02:27 PM
Sandy McAlpine
RE/MAX EXECUTIVE - Cornelius, NC
Search Lake Norman Homes For Sale - Lake Norman NC

Chris, I totally agree with this post. A lot of other businesses use this method to make sales (7+ contacts) with an internet lead within 30 days.

Feb 07, 2011 05:04 PM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Margaret - What a great story!!!  :)

Feb 08, 2011 03:00 AM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Sarah - Soooo true!

Feb 08, 2011 03:04 AM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

Sandy - Awesome!  What type of businesses were you referring to?  :)

Feb 08, 2011 03:05 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

This is good advice. I sometimes quit too early. Persistence does pay off.

Feb 10, 2011 04:29 PM
Chris Alston
Chris Alston (Keller Williams Realty, Silicon Valley, California) - Campbell, CA
Silicon Valley, California

So Ture Tigard!  :)

Feb 11, 2011 03:11 AM
Matt Robinson
Professional Investors Guild - Pensacola, FL
www.professionalinvestorsguild.com

Fantastic reminder of how important following up is with our clients.  I've always been a guy who stays in touch with his customer base, so I've done well, but I know plenty of agents in that 48%.  Why make the 1st call, if you won't make the 2nd or 3rd.  Our microwave culture wants instant results, but a successful business doesn't work that way.

Sep 06, 2011 05:58 AM
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Aug 22, 2012 12:46 AM
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