A common topic of debate are the virtues or lack thereof of internet leads for realtors and brokers. Old timers will tell you about the bad days of yore when the internet didn’t even exist, and it was a chore to come up with just a single new lead each day. Getting that lead often involved constant cold calling with lots of dead ends and outright rejections. Thankfully, times have changed.
The arrival of the internet has resulted in an embarrassment of riches when it comes to generating internet leads for realtors. To passively generate 50 or 60 leads a month or even each week is very doable. The problem has become not the quantity of leads but the quality, with many complaining that many internet leads are often of very low quality and end up being a waste of time.
However, the high failure rate of most internet leads is more than offset by the occasional success. Even if you are buying internet leads, your agent commission from just one or two sales is going to be more than high enough to cover all costs with plenty of profit left over. So why do you hear so much complaining about the low ratio of success of internet leads for realtors?
Even though low rates of return on internet leads for realtors is more than compensated for by the few that do pan out, having to sift through the haystack to find the needle is time consuming and involves inevitable disappointments. Evan as they are celebrating a closing, human nature still causes them to complain that they had to spend time on all those duds.
Focus on Fresh Deals
Don’t be distracted by the internet leads that don’t pan out. Focus instead on better identifying the ones that hold promise. Remember, you want to reach people at the earliest stages of the home selling and buying process. If it has advanced too far, then the person probably already has a real estate agent they are working with. You want to be the one to get them before they have made that decision. The goal is to spot who is new and avoid those leads that have either been snapped up by others or gone stale.
No Internet Lead Left Behind
Even though you should focus the majority of your attention on fresh deals, don’t abandon the old leads that haven’t responded to you. You need to have a quality CRM (Consumer Relationship Management system) in place to handle the flow of ALL of your leads. Many CRMs contain drip email systems that allow you to automatically follow up at regular intervals without you actually having to do anything. You will often find that someone who never responded to you initially will contact you 3, 6, or even 12 months later when they are ready to transact because you stayed in touch with them. When it comes to internet leads for realtors, there is no such thing as a bad lead – only bad lead follow up. Stay on top of them until they buy or die (or tell you to stop).
Failure Leads to Success
Obtaining internet leads for realtors can be like getting a gym membership and then not bothering to go. For realtors, the key is to be focused on the consumer and recognize that they wouldn’t be registered with a website unless they are at least slightly inclined to sell or look at homes. With practice, you will get better at how to move that initial interest into a completed transaction. So don’t listen to the complainers. Every internet lead is an opportunity to learn, and the more you learn about how to handle internet leads for realtors, the higher your conversion ratio will go.