95% of leads are abandoned in the first four days, but 60% will buy in the next 6 months.
On average, 95 percent of leads are abandoned in the first four days.
But 60 percent will buy in the next 6 months.
After we have a moment of silence for the lost leads, consider why the 95 percent is so quickly put aside. Oftentimes when there is a steady flow of leads, agents will only pay attention to those who want to buy now. Without the proper systems and processes in place, there is little to no-follow up for “down-the-road leads.”
This is the time to consider hiring an ISA (Inside Sales Agent). When your lead flow is steady and you recognize an overwhelming amount of opportunities are lost in the process, then an ISA Model may be perfect for your team.
What An ISA Model Gives Your Team
Time. Hiring an ISA does mean figuring out a compensation model and new structure. But this is well worth it when your agents and yourself are left to do what you all do best. All the while the ISA handles the leads from first contact until they are ready to seriously begin their search.
Who Makes a Good ISA
Loves phone calls, touching base and politely getting to the point. In essence, this is the front line of your company and an ISA needs to be a go-getter, but patient and exacting all in one. If you already have an agent on your team who is excellent at following up with leads then it’s worth trying to transition them into this role. When it comes down to it though, hiring is going to be different for each team since no real estate team is exactly alike.
Since this is the case you can check out our example ISA Job Description here.
Pros of the ISA Model:
The potential 60 percent of leads who want to buy in the next 6 months? They will get the attention they, and your team, deserve.
The right ISA will be more able to turn leads into appointments. This does take time and commitment, something your agents don’t always have all day to do.
Your team can become more specialized and members can focus on their talents, not their weaknesses. The true strength of a team is when they can point out these weaknesses and hire in order to accommodate them.
Cons of the ISA Model:
Perfecting the transition from ISA to agent can be difficult. There needs to be a systemized process in place in order for the leads to not feel handed-off.
Continuing the initial tone of an ISA relationship poses a challenge as well. If your ISA sets a certain tone for the company and this lead’s potential experience, it needs to be consistent throughout.
Training an ISA and instituting the process does not happen overnight. It is well worth the time if this is the right model for your team, but you will need to insist on taking the time necessary to make the transition.
Training and Results
Mike Grbic and Adam Bailey at Select Homes Team Real Estate are experts in the training department. They suggest at least a 90 day training and acclimation period for an ISA or OSA. In order to listen to their full interview about growing and training their team, listen to their episode on the Closers Podcast here. This podcast is full of helpful tips!
In order to achieve results with an ISA you need to have a plan in place. And we know, much easier said than done. But if you and your team prepare for this transition, institute a system prepared to handle lead follow-up, and take the time for training, the ISA Model has the potential to dramatically increase your ROI.
What are your experiences with the ISA Model?