** Disclaimer -- Hard-knock advice contained here. I usually write things with humor, sarcasm, and a certain lilt that most enjoy. This has none of that. Toughen up. This is about as serious as I can get without thinking I need coffee...or a vacation.
As one of our Facebook fans recently put it, “Internet leads are the new office phone call!”
The truth of the matter is that the internet lead is here to stay. And according to a recent NAR stat, 94% of all home buyers searched on the internet BEFORE they ever contacted an agent. So, agents have had to adapt to take advantage of this accepted fact.
But, the general opinion on internet leads is that these prospects are anywhere from six months to two years from making their purchase. And, in some cases, this is surely true.
But, the factual statistics simply state that the majority of internet inquiries are exactly the opposite. This data reveals that the vast majority of internet-generated leads are six months or less away from sealing the deal. Specifically, research has shown that a generous portion of all internet leads are only 4 months or less away from making their purchase.
In truth, internet leads tend to:
• Be better educated
• Buy more expensive homes
• Use a Real Estate Professional
• Have higher incomes
• Have a shorter search time
• Stay loyal to their Agent
• View fewer homes
So, why is it that sooo many agents have such a hard time converting them into prospects and, eventually, into a closing?
Well, to quote Bob Stewart of ActiveRain...
"...it's not because the leads were bad, it's because you (the agent) were not good at working them."
Working an internet lead is different than working someone that walks into your office or even calls you on the phone. And, the reason most agents fail at working internet leads is that they do not recognize that these individuals are merely gathering information. And, as such, they may be gathering it from multiple sources.
They have surely signed up on more than one website. There is no implied loyalty here. Don't fool yourself into thinking that you are the only person they are talking to...or your site is the only one that they are checking. Thinking that you are the only resource they are checking at this point is setting yourself up for failure.
So...The goal here -- Be THE source that they should go to...Be the expert. Be the leader. Be the most responsive, best educated, and MOST WILLING to help them get the information that they need when they need it. Doing that will put YOU in the forefront in that buyer's mind. Make yourself stand out.
Which brings me to my closing point here: Follow-up phone calls. (Notice I didn't say anything about emails.)
Most agents simply do not call an interent lead. Fail. They email them. Fail. That is setting yourself up for failure. It is a cop-out. It's the easy way. And, in the vast majority of internet inquiries studied, it does not work!
Of the agents that call those inquiries, most agents do not call an interent inquiry more than two times. Fail.
You have to remember that by signing up on your website, they are asking for information. They want something you have...and it is your job to get it to them. Don't worry about "being a bother" or thinking that you are going to offend them.
(Does that happen once in a while??? Sure... But, that doesn't mean it happens ALL THE TIME! Ever have your order get screwed up at the drive-thru window?? Yup....everyone has. But, you still go through it, don't you. Same concept.)
Text them right away. Don't text?? Call them! Call them several times. They are asking you to do your job. Following up with them is your job. That requires calling. Don't call once. Don't call twice. Call twice a day for 5 days, if that is what it takes.
What is the worst that can happen?? They tell you not to call them any more?? Awesome!! At least that way, you have an definitive answer as to whether or not they are serious, right? The serious inquiries will want to talk with you. And, the ones that aren't will tell you not to bother them. Either way, you were successful.
Following up with your leads is your job. Learn how to do it properly. And, if you can't, hire someone that can. You will close more deals! You will be a better agent! You will make more money!
If you want more information on working internet leads, check out Real Estate Client Referrals and see how we can help you achieve that goal. Call Clint at 800-977-7058, or follow him on Twitter. And, if you are on Facebook, fan us up.
Hi Clint,
This is a hard truth. We frequently fail not because we can't sell, but because we don't follow up long enough.
I've done that. But., I have also been successful several times when I followed up for 3-4 months without a response, and then came a call for an appointment.
Marzena -- Yes, it is a hard truth. And, one that most are unwilling to admit. Kudos to you for being the first. :-) Moreover, excellent testimonial on working those leads properly with your final statement. Valid point!
"They are asking you to do your job"
...and there it is! :)
Shantee -- Exactly. :-)
Clint,
As ever, you are to the point on handling internet generated leads. 56 hours was the average, a couple years ago, that it took for an agent to respond to an internet lead...
56 hours...
With the advent of smartphones that deliver email within SECONDS of it being sent, there is NO reason for a hungry, hustling agent to not call within 5 minutes of receiving that email. [your mileage may vary depending on your modus operandi]
My M.O. is to respond within 15 seconds of receiving the lead notification. That way, I can speak with the folks while they are in the 'real estate' mood. Once you're talking with a gosh-darn live human being, actively listening to what the person is saying and asking is key. They don't care what brokerage you're with, how many awards you've won...they just care about their concerns and what YOU might possibly do to help them attain their real estate goals.
I almost forgot Clint...
Nice post! There's great information here!
ROFLOL!
FACT: the market is such that even if you DO think it'll take upwards of two years to close a deal with a new prospect, you should be doing all you can to help get them there.
FACT: if you don't respond to Internet leads, someone else surely will. Do you really want business [that's potentially yours] to walk into someone else's virtual office?
So many people see the Internet as something passive and, in fact, it is. But that doesn't mean that the leads that filter in there aren't as valid as any that come in from people who've seen ads, yard signs, or what-have-you. NAR reported a short while ago that 90% -- NINETY PERCENT -- of buyers begin their search online. That's a pretty big chunk of the market to let fall by the wayside.
Well-said, Mr. Miller!
Fear of rejection is what keeps most agents from calling. It's so much easier to say you did your job of contacting a lead by sending an email and then accepting that they don't respond. Take a look at the other side as well. Buyer makes several contacts on several websites, gets multiple emails back from agents with offers of help if they pursue, gets one phone call with a real person that asks for more information and provides valuable info as well. Who are they going to remember or stay in touch with?
Todd -- First, I need to know what program you use to edit video!! Secondly....Thank you very much!! :-)
And, with regards to your comments on response time and reasons for such....Yup. Dead on accurate, as usual. Par for the course, as usual, Todd. ;-) Thanks for keeping the faith!!
Melissa -- Fact #1 -- Exactly!
Fact #2 -- Amen!
And, thank you very much! :-)
Lorraine -- Agreed! And, as a sales person, if you have fear of hearing the word 'No', you are in the wrong industry. And, you have hit the nail right on the proverbial head!! Good to see that there are other people out there that 'get it'.
Clint - I suspect many of us, perhaps most, can do a much better job of working Internet leads. Responding quickly and in a manner that shows you are there to help is the key. I would think that the consuemrs who leave a real phone number are the ones most lkely to be closer for buying or selling. The fact that they are willing to share their contact information means they are open to contact.
Jeff
Clint ... Great information about the phone call! It does seem most of the time they leave a phone number it is not valid so then I follow up with an email. pippa
Jeff -- Indeed...on all points. And, by doing such, are expecting future contact. :-)
Thanks for contining to offer such great comments on my posts. Very much appreciated!
Pippa (Woodlands TRE) -- Thank you very much....and yes, those that do not give you a good phone number....of course you want to send them an email. But, for those that DO give you a good one..... :-)
Clint, great information. I do most of my sales from the Internet and you are right on in reference to working the leads.
Ted -- Thank you so much for the testimonial :-) Happy to hear Im not crazy.... hehe
Clint - follow up is key to everything we do. Sometimes we have to use e-mail since there is no phone number or even name provided.
Clint, great blog !
At least for me. Or maybe it was the timing.
I have heard before that i wasn't the only web site they were on, but it didn't mean anything to me..
Today it did. Great blog. Or timing? Who cares.
TODAY I'M DIALIN!
Thanks
Clint, if you have a phone number that is like gold, along with a phone call, I would try Facebook,Linked in Twitter, these may be how they connect.
Bookmarked this one for a re read. Thanks.
Iris -- Sure, in those instances, thats the only option you have. But, what about the rest of them?
Corie -- Thank you very much! And, happy that I was able to help drive that point home! :-)
David -- Agreed. And, if you are social media proficient, absolutely try that avenue! Very good point.
Hi Clint, Straight talk to the masses ! I love it ! Any lead takes an honest effort to bring it to a closing table. Youp point about calling versus texting is valid unless the inquiror does not provide a number.
Brad -- Awesome!
Bill -- Sometimes, you just gotta call it like you see it. :-)
Guess what I'm going to do this morning...follow up on internet leads. Thanks for the post.
Eric -- Awesome! You're welcome!
Thanks for the tips. If someone is open enough to leave their phone numbers, you are right- use it!
Paul -- Amen! And...you are welcome! Happy to help!
absolutely true....and the good news is that we are always getting "floor time". But we have to work and then work again.
Clint:
Well said and completely unbiased information I am sure.
BTW: What business are you in again? =)
Is this your way of trying to get people who bought your company's leads to stop complaining about them? Just wondering.
Excellent post, Clint. I had always been told to respond to a lead in the same way that they contact you. In other words, if they email you, then your response should be email. You have totally opened my eyes to realize that, if you have their phone number, then call them on the phone. Use the phone first. Thank you!
Karen -- Thank you> ;-) Hope you are doing well!!
Aaron -- Whether you buy leads from me or from any other lead generation company, the fact remains the same -- The majority of agents do not know how to work internet leads.
Bob -- Thank you very much, Bob. And, I am happy to bring that point to light. Pleased indeed. :-)
Awesome post Clint! How right on with all of your points. Most agents feel that just because a lead starts on the internet, it has to stay on the internet. Like you said, it is a copout! You have started with an impersonal means of interaction. In order to win them over and convert them to a client, you must step up the game. Make that call. Get to know them; let them get to know you. Be real and let them know that you care enough to call them and not just bang at letters on the keyboard. How often are we impressed when someone in another industry actually takes the time to find out our needs?
Keep up the great work!
Mary -- Thank you so very much! And...you have said it all with that statement, Mary. I am blessed to be around such an amazing group of agents. :-)
Clint:
Its a fact if you do not do what is necessary to capture a lead --- they will work with another agent. I often hear & see a lot of finger pointing going on, and the parties in question do not take on the responsibility that it is because they did not have good follow up etc that the competition got the business.
Lorraine and/or Loretta -- Precisely! And, the one thing that irritates me more than anything else about this debate is it is always someone else's fault. And it is that blindness...that inability to see a weakness in one's own armor...that makes becoming better impossible. Thanks for touching on that topic...
Excellent post. You nailed it! I will tell my agents to read this post. Sometimes it sinks in more when they hear it from someone else.
2M -- Thank you so much! I hope it sinks in for them. ;-)
Great points Clint!! Just the motivation I needed to get more focused on this important source of business!
Thank you Clint...I am GUILTY of following up Internet leads with email. I hate to bother people on the phone (because I hate when sales people call me) but my Internet emails are NOT working so I had better learn to pick up that phone. Thank you for reminding me what really works.
You mean we need to call people? And then do stuff for them? And do it better than other agents who might be doing it, too? Sounds like work!
Duane -- Thank you so much! Happy to help!
Tammy -- Perfect case in point....the emails do not work. If they have a phone number, they are expecting a call. And, if you call them and they say they dont want to talk wtih you, THEN ask if you can follow up via email. Remember, you are never going to hear a "yes" unless you ask for one. :-)
Leslie -- The horror!!! And here I thought this job was just drinking coffee, writing cute posts, and cashing checks.... ;-)
Making multiple follow up calls is key. Calling a time or two and leaving a voice mail will not cut it. That person is not going to call you back. Not unless you've left them 7 voice mails, and it may be to tell you not to call them again. But like you said... at least you know they don't want your help. That is much better than not knowing. I admit I've fallen short several times. The people I did work with were ones that I was consistent with following up. If you do leave a voice mail, tell them that you are going to continue to follow up. It sets an expectation with them, and when you ACTUALLY do it, it shows you mean what you say. In this line of work, making those types of impressions can go a long way.
I allow everyone to sign up on my site for free with the promise of no phone calls. I only call when they inquire about information or a property. Many people tell me that is the reason they signed up on my site instead of others. And it has also increasedmy close rate immensely. Clint you are right about calling though......emailing and texting are kind of a joke. If I cannot talk to the lead how do I know they are a real person or not??
Clint I really like the post and I totally agree. I receive a ton of Internet leads that don't have phone numbers. Please answer this....
1. Do you have any advice to get a phone number?
2. If not, do you have a system in place to follow up with emails only instead?
Will -- Yes. Yes it is. And you are right...It's the squeaky wheel that gets the oil. And, in this case...you want to squeak the loudest and proudest. :-) And, your point about expectations set vs expectations met is HUGE!! Very good point. Thank you!
Jennifer -- I think everyone has a similar type of lead capture feature on their site that allows them to preview homes. And, that is fine. But, the key here is, when they request information, you call them with it. And, it sounds like that is exactly what you do...Nice work.
Laura -- 1. I would make that phone number field a requirement on your lead capture system. (if you have control of that). If you dont have control of that, get a different lead capture system. ;-) But, apart from that....ask. Simply ask for it. If they are serious, they will provide it to you.
2. I have never had any success with email follow-up. Ever. And, in this day of emerging social media dominance, I think email is going to be less and less effective. Perhaps asking for Facebook info instead?? :-)
Great post Clint! We have been working on how to better improve our internet lead conversion. We have even taken to video blogging and have had a good response from it.
Kasey Group - Video is HUGE!!! Monsterous, even. And, congratulations for using it to success. Thats great!
Great Post Clint. Thank you for reminding me what my job is. Simply sending them an email won't cut it. You really do have to talk with them, then take it from there.
Thank you
This is a very good post Clint - and good quote from Bob Stewart as well. I need to do more with video - this is a good reminder - thanks!
Scott -- Thank you for understanding that Im not throwing anyone under a bus. :-) Simply showing that the easy way, in most cases, isnt effective. Glad I could help! :-)
Sharon -- Thank you very much. I lifed that quote from Bob off of the lead generation contest post he wrote a while back...I hope he doesnt mind. ;-) I too need to do way more video....like....start doing video...LOL! So, Im in that boat bigtime. ;-)
Wow Clint....I am reading everyone else's comment and saying...yes, I agree with that, wow thats good, I couldn't agree more and that's what I was thinking. It appears I cannot get an orignal word in, so I am in agreement with all........ and better educated for having read your most delighful post....Thank you
Clint:
I totally agree with you that the majority of agents don't work net leads correctly, which is one reason why companies that sell leads charge for the leads instead of just asking for a referral fee, I am guessing.
My problem is: agents who actually need to buy leads likely are the same kind of agents who don't work leads properly.
Clint,
Great post, yes they do expect instant response, that is why they are on the internet.
Richie -- Thank you so much for reading it! Very pleased it rang through to you.
Aaron -- Oh, most certainly. One thing we pride ourselves on is education to try to get agents to understand what needs to happen and tips and tricks to get them to be more successful.
Ron and Alexandra -- Exactly! :-)
Very well said!! Thank you!
Absolutely! If they leave a number I call. But it's also followed up with an immediate email and drip mail system. I'll only take them off if I actually speak to them from the phone call. Internet leads are definitely NOT quick. I have a buyer's agent that is still working leads I gave her 3 years ago (I call her my "bulldog" - once she gets a lead, she won't let go unless she's beaten off with a stick! LOL!)
Jose -- Thank you!
Tori -- So happy to hear that people actually do that!! I would LOVE to have you guys working with my clients...that is awesome!! :-)
Clint,
As a professional Florida mortgage broker, I've experienced receiving many internet pre-approval leads that the Agent didn't follow up with properly. I've created a system of follow up calls and on-going email information to stay in touch with the prospect. Many times I'm rewarded with the loan application, but the buyer purchased with another Agent that had better follow up. That certainly drives home your point.
Great post, I think most realtors give up after 1 or 2 calls. The trick is to follow up ASAP and be there for the client.
Sweet Sassy Molassey - Now that's it! Curtail the need for them to keep searching! I find that people that are nearer to the transactional phase search more specifically. If you get someone that finds you via a specific search, that incubation period gets much shorter and it's a golden ticket which is up to the agent to bring home.
Harvey -- Amen! Yes, that does drive the point home.
Kate -- That is correct...and yes, that is the trick.
Anita -- LOL! You have it down pat, Anita!! Sounds like you have it handled...
I recently changed my Diverse Solutions IDX to an immediate sign up with phone number to make the call. I was a bit worried but my registrations started going to 2 to 5 a day. We are making the call.
Joe -- Exactly! And by making that call, you are going to see far more conversions. Awesome work, my friend!
Monica -- Thank you so much! :-) "We have to make it happen." And you said it all with that statement. Yeah, the days of sitting back and waiting for people to show up to spend money are long gone. ;-)
Hey Clint~ Awesome advice! When things are slow its not time to Twitter more, its time to work that database and call your leads! I am sometimes guilty of the same emails and not calling. Thanks! You Rock:)
Clint, I attended Rain Camp Dallas, TX. We got a copy of the 10 days of pain for converting internet leads. It describes the "work" you talk about. You're right, you def. need to call them over and over. You need to find them online, you need to snail mail them. You need to work it! Great post man!
Laura -- Hi, darling! :-) Amen to that statement!! :-) And thank you!
Christopher -- I wish I was there....I know a TON of people that were...Im jealous. Thank you so much for the affirmation! :-)
Clint - This is such an excellent post! Calling internet leads is so important, not to mention you find out pretty quick how serious they are along with how accurate their information they provided is.
Michelle -- Thank you! Yes. Yes it is. And, yes...for those exact reasons you just mentioned! :-) Soo thrilled to hear agents say that type of thing. Awesome...
Words of wisdom Clint. An internet lead is like a buyer visiting many open houses in one day. You have to do something to stand out.
I have an unhealthy fear of making phone calls -- mostly cause I hate receiving them. And I had heard that you should reply "in-kind" -- if they email you, email them back, etc. But I've found a surprising number of people who register on my site provide a real phone number (they could just lie if they didn't want me to call). And I've lost business by not following up soon enough. So, I'm over my fear. I'm gonna call these leads. The worst they can do is tell me not to call. And I might just sell a few more homes!
You're right Clint. I'm getting on the phone now to calls back a few leads I know work late. Thanks for the inspiration this evening.
OMG.....follow up is E V E R Y T H I N G.! I've sold properties to at least 4 different clients that I have worked with for 2 and 3 years. Ha! Finally it will pay off if you can stay the course.
Patricia
Have the patience to persist is what I get out of your great post. Thanks for the stats!
Nooooo.... if I was the client -- this would not work for me. First of all I don't want to be treated like a "lead" ... part of your number system that is sliced, diced and processed. OK for you if that is a system that works for you, but don't reveal that "side" to me -- the client. I also don't like it if a salesperson follows me around the store while I'm shopping continually asking if they can help me.... or enjoy eating dinner in a nice restaurant with a hovering waiter who's always "there". I understand how difficult it can be and you're walking a fine line between professional interest and being perceived like a rottweiler with a rat ... but, I don't want to be the rat! So, me.... this type of approach would lead me to steer clear, (i.e. run Forrest ... run! run!) which is rather the opposite effect that you are after.
Clint~ I enjoyed reading all the comments. Great information and conversation. I loved all the view points.
Thank you! Love your post! Just today we had an office meeting on this very subject and I was very frustrated by the number of agents that were whining about their lousy internet leads! Send them to me! I'll work them!
Definitely hard core advice, and it's advice that needs to be heard and acted upon.
Hi Clint~ I do hate cold calling and rarely, if ever, do that. But, I do call those that give me a actual phone number!
Follow up is the hardest thing. We have to remind ourselves that they are interested in buying a home whether it's now or in the future.
Clint, I get alerts right to my phone when someone signs up on my website. I call while they are still on it so they know who I am. More times than not, they are impressed with such a quick response. One Sunday morning, I was on my way to church and I received an alert. I called right away. The woman laughed. She had signed up on several sites and was wondering how long it would take someone to actually call her. She said you get the business because you made the call. It just goes to show, the early bird gets the worm.
Clint - Excellent advice for working Internet leads. What is the worst that could happen...someone saying "don't call me anymore," or you wasting your time emailing someone for weeks, months, or perhaps more? No brainer.
Barb -- Hi, sweetheart! Thank you so much. And, you are dead-on accurate with that statement.
Jeff -- And, with that attitude, you will do just that, my friend. Hit em up!
Marc -- You are quite welcome my friend!
Patricia -- Awesome testiment to proper follow-up!! Way to be there for your clients! Nice work!
Cheryl -- "Have the patience to persist." <--- Pretty powerful statement. Wish I had thought of it...
Judith -- Proper lead follow up will never make the client feel like they are a lead...it will make them feel like they are the only client you have...and that they are important. And, you should never hunt anyone down...it's not about steamrolling them into working with you. It is about being there for them when they need you....and, sometimes they dont know they need you until you remind them that you are there. :-)
Dawn -- Yeah, comments are fun to read. I enjoy seeing everyone's reactions and perspectives.
Vickie -- Yeah, I feel your pain on the cold calling thing, for sure. ;-)
Whitney -- Exactly. And, regardless of the actual time frame involved, the fact that they want to buy is the main one that should be remembered. I have seen people that say they dont want to buy for a year or more buy the 3rd house they saw....and Ive seen people that were pre'q'd for a loan and had a down payment in the bank and wanted to buy immediately take months to find "just the right one".
Tammie -- I dont think it has anything to do with being the early bird. I think it has to do with being the PREPARED bird. ;-) Nice job setting yourself up so that you can follow-up immediately. And, whatever you do, keep it up!! Eventually, it will be part of your brand. People will expect it and talk to other people about it. Good work!
Judy -- Thank you very much. And, that's right. What is the worst that could happen? They say 'No'?? As professional sales people, we (collectively) need to eliminate the fear of hearing that word.
And yet I'm still surprised when someone tells me, 'you're the only person who got back to me!!"
I think you and I write the most on this on Activerain.
So ditto everything you said. My mantra is it is not the leads but the time, follow up and not calling ASAP.
Karen -- Exactly! :-) And, that sets you MILES apart from everyone else.
Missy -- I think you are right. :-) On both counts!
Great post! Although I don't agree about the call follow up. I'm not a realtor, but an investor, and I read these blogs because they have great information, and this is good stuff. That being said, I don't want to work with a agent that won't adapt to my form of communication. For me personally, if an agent won't email or text me to communicate, they're out. For me it's also about the relationship. If you friend me on facebook, and we have common interests that's a HUGE plus. I want to work with someone that I like, and someone that I know will work efficiently. Again, thank you for the great post.
Joe
http://fitnessnewsnow.com
Joe -- You have to admit that a real estate investor is completely different than a home buyer looking for a permanent resident. And, if they did call you and you said, "Can you text or email me?"....then I think they would gladly adapt to that request. If they didnt, Sure....I would drop em quick. But, being as they are sensitive to the needs of their clients, anyone that made that request should be treated with the respect that they deserve and adjustments should be made. But, until that request comes, they should call! :-)
Darren -- Thank you! "I think persistency is the key, and immediate follow up is paramount." AMEN!
Clint, I'm currently enrolled in the Keller Williams BOLD program. We are required to make 20 calls a day. I am quickly getting over my fear of making those calls. I've also been debating in requiring a phone number for all our internet leads with a caveat "Please leave a valid phone number if you need assistance with your property search." Not sure it will work, but if I can get fewer people registering but with valid phone numbers, I think my conversion rate will improve drastically. Thanks for the post, your timing was impeccable.
Nancy
Nancy -- There is certainly a legitimate arguement for doing that. I wouldn't even put the caveat on there...You dont want your speech there to filter out potential clients. So, watch that part...But, yes...make it a requirement. And, instead of making 20, make 30. ;-)
One of the best agents I work with appears to be a disorganized, unfocused person. HA! She has the ability to immediately drop the lower-return thing she is working on for the hot prospect. She drops everything and calls an internet or any other kind of lead. She can change gears on a dime. She converts leads! As someone who likes to finish one thing before i start another, i have learned that immediacy counts and you can get back to whatever else you were working on when the call ccomes in. Juggling and being intuitive about priorities matters.
Beyond the call, I think having the ability to show the real estate "tire-kickers" that you have something of value to offer - information on the market, area etc they will stick with you. Creating loyalty is the name of the game! If you show them how to use you, your knowledge and the internet together, everybody wins!
annie
Annie -- The old saying is to do first things first. The problem with that statement is that it doesnt take into account the idea that the 'first thing' is the one of the highest priority, not the first thing you started doing. :-) And, her activity is a testimonial of just that. And, apparently, it works.
Clint, you've written a great post! This is a really relevant topic in our current real estate world. I often make the mistake of emailing web leads right away, but don't make the personal phone call!! I think I'm being diligent by emailing right away, but in reality, I'm sure I'm letting buyers slip through the cracks. I pledge to phone my web leads from now on!! Thanks for the much needed wake up call Clint!
Chezlene
Chezlene -- Thank you very much! You have to remember that they are on one more than one site...and every other agent out there is also emailing them. At that point, regardless of how personalized your email is, its spam. A phone call sets you apart. It puts you head and shoulders above the rest because it was important enough for you to make an effort to connect.
Great post, and you handled Aaron's comments very well. The key is education of the agents. You could just sell leads, and leave it up to agents to figure out how to "work" them, or you can educate them. Possibly increasing your business, but if people don't really know how to use your service as it relates to their service, what good is it?
What you have in the RE industry is a huge gap between technology, and how it relates to individual agents. "How do I intergrate this technology into my personal RE business?", is the question. The gap that exists is commonly referred to as "Crossing the Chasm".
With 94%....94 Percent! Of buyers looking online...first, why the hell are you still doing print advertising, and second when are you going to realize..."The Sale Starts With The Online Listing"?
I created a training program for agents that's titled, "The Sale Starts With The Online Listing". It goes over in detail about agents listings, handling leads, and so on. What it also talks about is online shoppers, inparticular why they are different than walk-in or phone ups. This takes one step back from this blog, and starts with the understanding of their behavior. Once you understand the how's and why's, you'll be much more better prepaired when dealing with them. Also, things will make more sense.
It's encouraging to see someone else trying to bridge the gap.
Hi Clint...Congratulations on your feature post, you tell the story well, and you are soo right Call them, even Past Clients..
Yesterday I spoke with Buyers I have on my Listing Notifier and could not get past 4 people as they were so happy to hear from me and talk about their needs for a home in Victoria...I have my VA call my web leads ASAP so I do not miss them, she calls or emails me with their needs and then I try calling, many times they use a false Phone number, but a true email or visa virsa.
It's called follow up, if you only have their email recommend they send you a phone number to call so you can discuss helping them...if they refuse or do not reply, drop them.
Cheers, have a great week!
David -- Thank you so much for your kind words. I appreciate that very much.
Education is the key. I look at my business the same way that agents view their clients....they want them to be a client for life. So do I. I have a vested interest in making sure they are successful....because I want them to buy more from me. :-)
With regards to that gap...in 2008, NAR said that 87% of anyone that bought a home looked online before contacting an agent. Yet, they also say that when NAR asked agents where they got their closings from, only 3% said they got the client online. That gap isnt a gap...its a canyon.
You're absolutely right...the sales starts the second the client hits the enter key. :-)
Fred -- Hello, my friend. Long time, no see!
Thank you. Glad you liked the post. And you are right. If they only provide email...ASK FOR A PHONE NUMBER! You will never get one if you dont ask...and if they refuse, move on. :-) Dead on accurate.
You know I do need to use better follow up. Most drip campaigns (packaged) are not long enough.
Clint - What an excellent and timely post. Just yesterday, I was having this same conversation with a friend who had called me to refer me to a friend of his that he works with. We got to talking about the mortgage industry and since this is someone I have not only helped with his own loan but he has also referred me to his family and friends - he knows, trusts and respects me.
He asked me about my business and how much of it comes from referrals and how much come from the "internet" (my website and my AR blog)? Fortunately for me, most of my business (nearly 60%) comes from referrals from my SOI and less than 20% comes from the internet. He asked me which ones were harder to work? By far, the small amount of internet leads take almost as much of my time to close as my referral leads.
There are so many reasons why this is but I won't get into to it (that's a whole post of it's own) but just suffice it to say that I'm glad that I have people like my friend who help me keep my business afloat and those people will always be so much more appreciated.
I'm wading my way through the internet leads and working them the best I can. My first priority though, as far as my time, will always be to those clients who I already have in escrow. The clients that I take care of day in and day out and do a good job for are my bread and butter.
Gene -- Agreed...packaged drip campaigns are never long enough. 3 months doesnt do much. ;-)
Donna -- Thank you very much! Im happy you enjoyed the post! :-)
Again, you should always work your first things first. Priorities are great...but, if you have any down time...that time could be invested in "sweat equity" attempting to call those prospects that have yet to be converted into clients. It is never wasted time when you do this.
Clint,
You are so right! People need to continue to communicate WITH THE HUMAN VOICE! We need to feel that there are actual people on the other end of the line!
Kathy -- More importantly than that, by calling you are saying to that potential client, "You are important to me...important enough for me to stop what Im doing and call you." That is HUGE!
I agree they are work. One must persue them with follow-up. I carry around there information around with me for about two weeks and keep trying. If no "real" response I give up. Often they make contact with numerous agents at once and forget who they contacted. The ones that persue will convert.
Linda -- Yes, they are...but, so is anything worth having, right? ;-)
Clint, you're right, since we are trying to cross the canyon.. I scheduled a few free training webinar's for tomorrow and Friday. http://activerain.com/blogsview/1588417/-the-sale-starts-with-the-online-listing-free-online-presentation
well said! I try to email my leads for at least 3-4 days and also call if they have a number. I should definitely call more. thanks!
David -- I hope you get a ton of attendees...and I approve of the link, so I wont take it down. ;-)
Sandy -- Thank you so much!! Call! Call! CALL!! Email them also, but CALL! :-)
Clint, Right On! I work them like they are gold....cause they are to me! Have a Great week!
John -- Awesome! And, they should ALL be worked that way...yes, some of them dont work out. But, some of them do! Work them all like they are gold and you will have more of it to spend. ;-)
Ouch. Thanks for the step on the toes. I have always been told not to call the internet lead -- "studies show" they do not want to be called first. Oops. Plus, there's the problem with that 5000 lb phone...LOL!
All so true. Keep up the good advice.
Nicole -- Those phones are hard to pick up when you have been told not to call them, arent they?? :-) I can tell you having worked for a lead generation company for 6 years now, NOT calling them is the equivalent of shooting yourself in the foot. Call them. Trust me. Yes, you will get some that dont want to talk to you. Thats part of the game. But, for the most part, you will be talking to responsive people willing to discuss their needs. Just call them. :-)
Oh....and......sorry about the toes. :-)
Jurius -- My friend! How are you?? .... Thank you! And, I plan on it, my man. ;-)
Clint, no attendees, however I did do a recorded internet presentation of "The Sale Starts With The Online Listing", here's the link for it presentation
How about doing an educational meeting or webinar session together?
David -- Yeah, today was a rough day to do that because of the rebarcamp going on in PHX...most techies are there or watching it online. ;-)
I wouldnt be opposed to that at some point. Have to clear it with the boss-people here, however. Email me -- clintmiller@recr.com
Clint you always give such good down to earth advice to REALTOR®. I love our Internet clients. As you said they are so much farther along and very educated about the RE process. They've done their homework, they know what they like and it's up to me & my team to make the connection for them.
Oh, and IMHO the other reason most agents fail at conversion is that they will call or email once and if that prospect isn't ready to buy today (or in the very near future) they quite. We're seeing conversion on leads that came to us 12-18 months ago.
Follow up is the key and that means to do it quickly - thanks for sharing!
Clint
Internet leads require a different follow up system than any other leads but once you can connect it all comes back to the basics again.
Very good post
Ty
Lee and Pam -- Awww, thank you so much! And, thank you for the validation on the article. :-) And, I completely agree with you on the failure issue. Its about the follow up skills of the agent, for sure. ;-)
Norma -- Amen!
Ty -- You got it, my friend.
Thanks for sharing! We do need follow up systems.. not just hope! :)
I really needed to read this today. Looks like I will *YIKES* be picking up my phone later this morning!
Lori -- :-) Get on it, Lori! :-)
This is good advice that I am quilty of not following. I will change that. Thanks.
Wayne -- You are welcome.
Hey Clint, I have to say that I generate a nice number of leads from my lethbridge homes for sale blog. I know that I could always improve my response and conversion ratios and am constantly working to improve that ratio while at the same time increase the number of leads that come in. It is tough to do both at the same time though.
Robert -- The best way that I have seen to do this is to develop an immediate response system. This way, as the leads come in, they are responded to immediately. The faster you reach them, the better they will convert.