Lead Response Times: A Study
November 17, 2009 by Todd Waller
Filed under Buyers, Lead Generation
Ok, so I stumbled across this MIT study on Lead Response Management and found a literal treasure trove of information that continues to back up what we know instinctively about responding to leads: response time is a factor! Huge factor, even.
On the Lead Response Management site is a whitepaper about the Jim Click Automotive Team. The automotive industry, like the real estate industry, has been hammered by the economy. Yet this automotive team increased their gross profit by 102.8% in eleven months!
They did this with an integrated system generating web leads. Sounds like a truly neat system that would be fun to implement in real estate. However, without dropping a bunch of money on a fancy integrated system, their results and findings, still point the way to increasing your own success with online generated leads.
THE INTERNET HAS CHANGED THE WAY CARS & HOMES ARE SOLD
The Internet has also conditioned people to demand an immediate response to information inquiries, and if not, they lose interest quickly.
This same study found that 92% of automotive consumers felt that the speed in which a dealer responded to their inquiry affected their perception of the dealer and whether they ended up purchasing a vehicle from them. 74.3% said it even affected their perception of the manufacturer who supplies cars to the dealership.
So, we know that response time is a factor…and a big one at that. Now, due to the immediacy web users have come to expect, your brand and service/product are now being judged by your response time. Unresponsive/slow to respond means the customers perception is dropping. Respond quickly and you have least allowed yourself the ability to continue the conversation.
PROFESSIONALISM, COURTESY AND FORTHRIGHT ANSWERS
People are less inclined to subject themselves to the high pressure sales tactics of dealerships as they were in the past. They want real, courteous answers to questions. Or they just go elsewhere.
Information about real estate cars can be found everywhere on the internet. Jim Click Automotive Team learned and profited from their ability to meet the needs of their customers shortly after responding to a web lead. Dealerships struggle with the some of the same negative perceptions as real estate agents; namely, high pressure sales tactics.
They found that by contacting the web customers immediately, answering their questions and inviting them to the dealership, they were able to generate more sales. Here are the three critical opportunities they discovered:
- Critical Opportunity #1: A number of Salespeople may be talking to customers and qualifying them prior to capturing vital contact info and getting them to come in to the dealership.
- Critical Opportunity #2: Not answering inbound calls and responding to Web leads immediately (as in 5 minutes.)
- Critical Opportunity #3: Not proactively reaching out to leads, prospects, and past customers effectively, efficiently, and with a high volume of contacts.
Great points for anyone generating leads, let alone online leads, would do well to heed.
Listing Videos: Quick and Easy
November 9, 2009 by Todd Waller
Filed under RE Tech, Sellers, Videos
Want to increase the exposure your listing gets online? Want to easily incorporate video in your marketing without taking a whole bunch of time to shoot, narrate and edit listing videos?
We’ve found a quick and easy way to generate videos to be exported to YouTube. Read on to see how you can put your toe in the water of video distribution without learning a new skill set or taking too much time.
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Lead Response Times – It’s Not Just Us!
November 5, 2009 by Todd Waller
Filed under Articles, Lead Generation, Training
Ok, so at theRockStarAgent.com we are flat out rabid about responding to your leads quickly! In fact, on our team in Ann Arbor, all the agents are using Blackberry smartphones and have a habit of responding to leads within 15 seconds of the lead coming in. Often times, we catch folks still searching our site when we get them on the phone.
http://media.therockstaragent.com.s3.amazonaws.com/lead-response-intro.flv
But you’ve heard and read all of that before. And quite possibly, you think we’re a little around the bend. Honestly, can’t blame you. However! I’ve got research, statistics all based off research done by M.I.T.
From: THE INSIDESALES.COM/MIT LEAD RESPONSE MANAGEMENT STUDY OVERVIEW
We used the data from the InsideSales.com system (critical to this purpose because it generates and stores quantitative call data linked directly with qualitative lead process and flow information).
We examined 3 years of data across six companies that generate and response to web leads, from over fifteen thousand leads and over one hundred thousand call attempts.
Web Users Want Information NOW!
Mindset & Conversion | Part 1
August 7, 2009 by admin
Filed under Conversion, Mindset, Training, Videos
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Lead Information Capture
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Setting Up Your Auto Responder/Drip Email Campaign
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Online Lead Generation
August 7, 2009 by admin
Filed under Articles, Lead Generation
A big part of the Agent Bailout Blueprint is customer acquisition. It’s part of the 3 “C”’s…
And online lead generation is a great way to acquire customers to build your real estate business.
It has revolutionized the way we do business.
But not all online lead generation is what it’s made out to be.
We have spent tens of thousands of dollars on national lead companies and can tell you first hand that some work and some fail miserably.
When I first started working online leads, I had been a Realtor for 14 years and I had a good business but not an awesome one; I had plateaued. With the tough housing market the past couple of years, I needed to find a way to make up for lost business.
After all, my goal in life was to make sure that my kids would graduate from college without debt. So one day, I took a leap of faith and replied to an email sent to me by a national lead gen provider. Long story short, I made a BUNCH of extra money in a short period of time – $258,000.00 to be exact and I was on top of the world.
Got Buyers?
2008 will likely be remembered as one of the roughest real estate market we’ve seen in a long time!
For sure, here in Michigan, it was another rough year. It was compounded by the fact that so many folks were leaving the state, losing jobs or getting behind on their mortgage payments.
After a brutal winter of cold and more snow than usual, it appears as though spring is nearly here! I know the tulips are pushing through along my driveway, but is the housing market close to thawing out yet?
Real Estate Thaw of 2009
In Anderson Township, Ohio, they are seeing a rise in the number of attendees to open houses and more folks are considering even selling their homes to purchase at a great price.
Some of the houses that we’ve looked at have been on the market at least six months. Some have been on the market, gone off the market, come back on the market,” house hunter Barbara MacKenzie said. I have a stable job, I don’t think I’m going to get laid off or anything, and for those [reasons,] it is a good time to buy…..
Beaufort, South Carolina is also seeing an increase in activity.
Other members have also seen more potential buyers recently, said Jean Beck, the association’s executive vice president.
She hopes low interest rates and a tax credit for first-time home buyers included in the federal economic stimulus bill will convince clients to buy.
“It’s exciting to hear the Realtors be excited,” she said.
One thing that both of these communities have in common is an unusual slow down in their housing market. The slow down can easily be explained away by the economy, but the scary question that remains on every Realtor’s(R) mind is, “When will the market at least bottom? When can I depend on a more steady stream of business?”
For sure, the $8,000 first time homebuyer credit will push a few folks into the buying mode. Will you get your share of those buyers? How will you reach those buyers? Mailers? Door knocking? Ads?
One thing is sure about the Real Estate industry: it is always changing!
The most recent shift in the industry happened about the same time the bottom fell out of the housing market. Of course, the shift that all agents are scrambling to keep up with is technology! The bottom falling out of the market simply escorted some our colleagues into early retirement or other lines of work as it became too difficult to maintain the same level of production.
The basic skill sets needed for sales still apply. However, the old school ways of attracting, finding and keeping business just do not work as effectively as before. That’s not to say that print ads don’t work. They probably still do and that’s why agents continue to spend money on them. Simply put, supplement the old school methods with some new ones!
Here are a few sources for ideas:
$67,644.55 In Real Estate Commission In One Month?
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Not only do we share our own proprietary systems and tools that we use, we also consistently bring our group the most high income producing systems, tools, and methods that other top producing agents are using that are working today – these aren’t the same ole’ canned marketing ideas you’ve seen before. This is ‘had-to-twist-em-by-the-arm-to-spill-the-beans” material.
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Using Gmail for Lead Distribution
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theRockStarAgent.com has a Google Adwords Qualified Individual on staff. Our company specializes in generating leads via cost effective real estate internet traffic management and lead capture websites.