Speed Wins On Lead Conversion

Speed of Response and Contact Rates

Internet leads die a quick death. Based on data from a MIT Study1, the odds of contacting a lead after 5 minutes, versus 30 minutes, drops by 100 times. In fact, from just 5 minutes to 10 minutes the odds decrease by 5 times.

Speed Wins

Here is really good information on lead conversion. This is the solo agents Achilles heel. A Solo agent handles all the details, scheduling showings, showing homes etc… So they cannot possibly respond to leads within minutes consistently. Besides the actual hard cost of the leads, the opportunity cost is a lot greater.

So what are some of the solutions?

A smart phone is a must! If you receive a lead, you should tap the number and hit call. Even if you just say hi, I am not able to talk right now, but I will call back soon.

According to National Association of Realtors about 2/3rds of buyers and sellers interview one agent. I am sure other industries are pretty similar. So basically the first one to the table gets 2 out of 3.

The next thing I recommend is carrying your top ten leads around on paper. Yes you heard me right, the geek said on paper. Call them whenever you have free moments. For example you show up ten minutes early for an appointment and the appointment text and says they will be ten minutes late. Make calls!!!

Another thing, do not leave voice mails. I am convinced that no one listens to them, besides if you call someone three times in two to three days without leaving a message, they will call you back.

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