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As a new agent, should I work for a broker who provides leads?

By
Mortgage and Lending with Aspen Home Mortgage, NMLS# 396174 NMLS# 1013160

One benefit a broker can offer to their agents is providing leads.  But even though my own company is as one of the top ranking real estate sites in our city, and I provide my agents with leads from the site, I caution new agents to not make their decision about a broker based on leads provided.  A company may tell you that they provide their agents with 1,000 leads per year.  But if that is divided between 50 agents that leaves you with just twenty leads per year.  If an average of 1 in 50 of those leads end up closing, that means that you will only average selling a home through a company provided lead once every few years.

CS & Company Realtors site (CSColorado.com) is often on the front page of your search results for the most often used real estate terms (Colorado Springs real estate, Colorado Springs homes for sale...)  We have one of the highest ranking real estate sites in the city, with 6,872 unique visits in January, 2007.

I'm not telling you this to say that you can rely on our leads to carry your business.  I am telling you that even with our very successful web presence- we CAN'T carry your business.  If another company tells you that they can, take it with a grain of salt.  No matter what a broker promises you, you are responsible for your own success.

Don't rely on your broker for leads.  Rely on your broker to teach you how to generate your own business, and then plan on working VERY hard to get things going.

Posted by

Carla Starkie, NMLS# 1013160 
Carla & Company/ Aspen Home Loans, NMLS# 396174
Equal Housing Lender
4419 Centennial Blvd. #108
Colorado Springs, CO  80907

Carla@CarlaandCo.com
Cell: 719-200-5006

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

1 in 50 is a disaster. 1 in 3 is about right around here.  I know a number of agents and brokers who generate a tremendous amount of business from their web sites.

Agents to whom I give leads sell about 1 out of every 3-4.  I can live with that. 

Feb 20, 2007 06:45 AM
Anonymous
Carla Starkie
I really depends on the type of lead.  For solid leads who request to schedule a showing or something like that the conversion rate would be much higher.  I checked back for the month of January to see our stats.  For MLS search leads we have 3 agency agreements and one contract for the whole month so far- out of 59 leads.  The one that is currently under contract was a "request a showing" lead.  We got 4 of those for the month, and have agency agreements with 2 of them. 
Feb 20, 2007 07:30 AM
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