There’s a process in real estate where most agents are consistently falling short. Lead follow-up.
90% of real estate agents will give up on a lead after the first four touches, despite the fact that 70% of the time that lead will go on to buy a home within the year, just with a different agent. 80% of prospects are deemed ‘bad leads’ by sales teams, and yet still go on to purchase within 24 months Responding instantly to inquiries can increase lead conversion rates by up to 391%
Do I have your attention now? Those numbers are pretty shocking. Here’s the good news: there’s a wealth of opportunity being left on the table. So how can you start capitalizing on these missed opportunities?
Here’s the deal. Leads need to be followed up with almost immediately. (We recommend within 15 minutes.) This doesn’t just mean hot leads that call into your business, or active buyers and sellers that you already have a conversation with… this means brand new, online leads that have registered on your site.
Ask yourself what process you currently have in place for lead follow-up.
For single agents: Are you responding to leads on your own? What’s your average response time? Are you notified through your CRM?
For team leaders: Are you tracking your agents’ response times? Do you check within your CRM *daily* to make sure they’re following up? Are your agents complaining about lead quality? Should your agents’ sales be higher?
The underlying problems are (A) time and (B) impatience.
We know that speed-to-lead is critical. But do you have the time to stay glued to your desk, ready at a moment’s notice to call or text a brand new lead who has registered on your site? Are you able to step away from an important listing meeting with clients, or a showing, or an open house, to send a text? Of course you don’t! There is no dignity in doing it all. You’re a real estate agent and your time is best spent on the highest dollar-productive tasks.
It’s also easy to lose patience with online leads. Real estate is a sales business and salespeople like instant gratification and quick wins. Online leads are a long-term game. But if you invest the right tools and systems into converting those leads, it’s not just a long-term game, it’s a profitable one.
Remember when I mentioned before that 90% of agents will give up on a lead after the first four touches? Well, what if you had a Lead Concierge acting as an extension of your team, who would engage and qualify your new leads in as little as 90 seconds and then execute a 22-touch follow-up plan.
At BoomTown, we’ve been supporting real estate agents for over a decade. In those years we’ve identified patterns and formulas for what makes a successful real estate business. Which is why we launched a new solution called Success Assurance. A process that handles lead qualification for you. (Saving you the time & effort, and helping you convert more online leads into closed deals.)
To solve the lead follow-up conundrum, you have 4 options:
Hire an additional team member (like an Administrative Assistant or an ISA) to handle your lead engagement Use an automated system (a bot) Continue to do it yourself Leverage a Lead Concierge solution, like Success Assurance
Hiring an Administrative Assitant or an ISA is a solid option! They can tackle some of that follow-up for you and do the preliminary lead engagement and qualification so that you can be where you need to be, focusing on more dollar-productive activities.
The downsides to hiring an ISA:
1) They’re still only available 40 of the 168 hours in a week. So those leads that are registering on your site after dinner? They won’t hear from your team until the next day.
2) Now you have the expenses and hassles of hiring, training, additional overhead, and turnover.
3) The responsibility still falls on you. You need to hire the right person, train them to represent your team, use your system, and seamlessly hand off leads to your agents.
Using an automated (bot system) is not a good idea. It doesn’t cut it for today’s consumer demands – end of story!
Solve the lead follow-up struggle with a proven process for converting more leads. Acting as an extension of your team, our trained sales concierges respond to new leads 24/7 in as little as 90 seconds and nurture them for up to one year.
The Benefits of Success Assurance
Hit the ground running and see better ROI
Avoid the expenses and hassles of hiring, training, additional overhead and turnover. Rest assured your lead generation investments are paying off Allow agents to work only active buyers and sellers, and accelerate conversions
Leverage the experts, but make it your own
Offload follow-up to experts who nurture your leads for up to a year, re-engage past leads, and provide immersive texting and calling options Personalize campaigns with brand messaging and customize scripts by campaign type Receive real-time notifications in the convenience of a mobile app Jump in to take over communication at any time or point of engagement
Fill your pipeline and drive conversions
Fill your pipeline with qualified leads that are ready for agents Let your team focus on active buyers and sellers
Enjoy a unified platform and track performance
Streamline your process without multiple vendors and systems. All communication is housed within your BoomTown CRM. See a comprehensive dashboard, where every action is tracked, for full transparency and ROI-tracking Rate and review concierge conversations for constant improvement