Are You Missing Customers?

By
Services for Real Estate Pros
The California Association of Realtors4 hours recently conducted a survey of Internet Vs. Traditional Buyers. One of their findings revealed that 94% of “Internet” buyers expected a response within 4 hours or less in 2007, compared to 67% in 2006.

This has long been an important conversion factor when responding to your leads. It is critical that you respond within a timely fashion and it is now confirmed that your customers EXPECT it.

Here is how the numbers add up:

22% expected an immediate response
21% expected a response within 30 minutes
16% expected a response within 1 hour
17% expected a response within 2 hours
18% expected a response within 4 hours
6% expected a response within 1 business day

Compare the buyer’s expectations to the standard response rates by Realtors, less than 50% even respond to internet leads at all. The ones that do, it takes an average of 2 days.

How do you measure up? Are you meeting your customer’s expectations? Whether you receive a large volume of leads, or just a few, you must always focus on a timely (if not instantaneous) response to your prospects. This will give you a competitive edge against your competition.

Comments (6)

Linda Lipscomb
Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN
731-695-1118, Lexington TN Homes

Mike,

Yes, I believe this.  Buyers will usually buy a home from the first agent that responds to them.  So.... that's why we all have Blackberry's or something similar in which to get our emails in the car.

Thanks for the stats.

Linda Lipscomb, Homes for Sale in Lexington, TN.   www.lindalipscomb.com

Mar 23, 2008 06:33 AM
Debi Ernst
St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO
GRI, e-PRO, Broker/Sales Associate

I don't have the large volume of leads that some realtors may have, but I do believe I'm responding to them in a timely manner.  I try to put myself in their shoes - I know I'd want a quick response.  Thanks for the information.  :)

Mar 23, 2008 06:44 AM
Martin Lopez
Berkshire Hathaway HomeServices California Properties - Cerritos, CA

Mike,

I strongly support Linda's comment, it makes total sense. 

One question, is that graphic on C.A.R. or Realtor.com?, I think it will be worth printing it out and insert it in our listing presentation so we show the seller the value of using high-tech contact systems.

Thanks, good statistics

Martin

Mar 23, 2008 06:45 AM
Mike Lyon
Edmond, OK

Martin,

 This was a custom graphic created for a presentation we gave at the International Builders Show. Unfortunately, I do not have a high resolution copy. Tthanks!

Mar 23, 2008 06:46 AM
Bob Haywood
McGraw Realtors - Owasso, OK
BobHaywood.com

Hey Mike,

How's it going over there in Edmond?

 

Apr 11, 2008 12:44 AM
Sharon Harris
Keller Williams Keystone Realty - Hanover, PA
Realtor
I agree the leads needs to be answered right away. Some days this works other days it is really hard to respond right away online. Last week i was out showing homes all day and did not get back until 8:00. I try to make contact and explain that I was out with a client and they needed my undivided attention that day. It makes me sound better then just e mailing much to late.
Apr 13, 2008 02:35 AM