Table of contents
- What is an inside sales agent real estate?
- What is the role of an ISA
- Real Estate Inside Sales Agent Job Description
- ISA Job Responsibilities
- Reasons you Need an Inside Sales Agent
- Difference between inside sales and outside sales agents
**The following is a guest post from Mitch Ribak, the broker/owner of The Mitch Ribak Real Estate Team with Tropical Realty of Suntree in Florida. We would like to thank Mitch for this excellent overview of the downfalls of the real estate ISA.**
It’s been eight years since I started using an ISA in my Real Estate Brokerage in Melbourne, Florida. Yes, we did it way before it became the “in” thing to do.
I’ve spent the last eight years perfecting the process and making tons of mistakes until the process we currently use was implemented.
Since we started figuring it out, our Internet Lead Conversion went from 2% to 4.5% on average.
Learn how to get seller leads with our home valuation landing pages
Almost daily, I read online or here of a Broker or Team leader trying to hire an ISA. They do this without really thinking the process through.
The only job description they have is that they should make phone calls and make lots of them.
You’re probably familiar with the phrase “Real Estate Roller Coaster.” Meaning our commission income varies significantly from record months to lengthy dry stretches.
We can prospect for new leads and follow up with our internet leads during our slow months to secure future business.
However, once those leads become active clients, we get so preoccupied with serving them that we have little time to produce new leads.
In an ideal world, you’d keep your foot on the gas and never stop producing new leads and appointments, even when servicing active clients. However, this is far easier said than done.
That’s where an inside sales agent comes in. ISAs are essential leverage for building a business that never stops generating leads and setting appointments.
What is an Inside Sales Agent (ISA) Real Estate?
A licensed real estate inside sales agent (ISA) is a professionally trained and certified salesperson with an extensive understanding of the industry.
They are sales reps who will relieve you of the stress of lead conversion and keep in touch with leads until they are ready to act.
You might be thinking, “Why would I hire an inside salesperson when I can do everything myself?” Every effective real estate salesperson should have an inside sales agent.
They’ll take your business to the next level and free up your time and energy to focus on selling houses.
An Inside Sales Agent’s primary purpose is to assist you in converting leads into appointments. They do this by:
- Taking phone calls from leads.
- Making prospecting calls.
- Follow up with any other lead type (such as emails or leads from your website).
- Making appointments for leads.
What is the role of an ISA?
The roles of an inside sales agent in real estate include the following:
1. They Retain Internet Leads
An inside sales representative waits to contact your internet leads as soon as they arrive. According to research, an internet lead who isn’t engaged immediately and appropriately is a lost client.
You’ll never lose a lead again if you have an inside sales agent ready to contact potential clients.
Furthermore, many online leads are generated by clients who are not yet ready to buy or sell.
When these leads are ready to be actively engaged in the market, an ISA will keep in touch with them over time and retain their business.
These leads would be lost if an ISA did not develop a relationship with them over time.
2. They Save You Time
Most effective agents do not have enough time because it is a valuable commodity. Running a successful real estate firm has numerous moving elements that require time and financial investment.
Converting leads to sales might be the most time-consuming and costly task. Having an ISA ready to contact prospects, follow up with them, and develop a relationship with them while focusing on your clients is a great way to save time.
3. They Increase Your Sales
According to research, agents can earn up to 300 percent on their investment with an ISA. Inside sales agents are experts in their field.
Their expert knowledge and persuading skills convert even the most lukewarm leads into sales.
While showing properties and attending closings, they’re making their sales work over the phone and via email.
You can be focused entirely on the client you’re working with while also making sales calls. Without them, it’s impossible to sell as many homes.
Their experience and existing workforce enable you to continue working knowing that another lead has been converted and is on its way to you.
4. Serves as a Marketing Tool
Word of mouth marketing is one of the most effective ways to grow your real estate firm. Your ISA aids in the retention of internet leads and acquiring new clients.
After giving them outstanding service, they’ll gladly recommend you to their friends and family.
This results in marketing that you don’t have to pay for, boosting your ISA’s return on investment even more.
Inside sales agents are the key to running a successful real estate business. You can boost your monthly sales without increasing the time you work.
By hiring an inside sales agent, you can triple your sales and become a top earner in your field.
Real Estate ISA Job Description
To meet the company’s sales goals, a real estate inside salesperson is responsible for turning pre-qualified leads into new clients and obtaining repeat business from existing customers.
They follow up with potential homebuyers until an appointment with a listing or buyer’s agent is established.
They develop connections with their present clientele and report on analytics regularly to ensure a high lead-to-appointment conversion rate.
Inside Sales (ISA) Job Responsibilities
Apart from sourcing new sales and opportunities, and inside sales agents’ job responsibilities include the following:
- Make purchase offers to sellers, who will review them carefully.
- Consult with escrow companies, lenders, house inspectors, and pest control businesses to ensure that purchase agreements’ terms and conditions are met before closing dates.
- Interview clients to establish the types of properties they are looking for.
- Prepare contracts, purchase agreements, closing statements, deeds, and leases, among other papers.
- Oversee the signing of documents and the disbursement of funds at property closings.
- Act as a go-between in discussions between buyers and sellers, representing one side.
- Advertisements, open houses, and participation in multiple listing services can all help to boost property sales.
- To evaluate a property’s competitive market price, compare it to similar homes that have previously sold.
Arrange for appointments to show houses to potential buyers.
- Create a list of homes compatible with potential purchasers’ needs and financial resources.
- Display commercial, industrial, agricultural, and residential properties to clients.
- Arrange for title searches to see if customers’ property titles are clear.
- Go over new building plans, enumerating and recommending different options and features with clients.
- Respond to client inquiries about construction projects, financing, maintenance, repairs, and appraisals.
- Inspect the condition of the premises and make any necessary repairs or advise the owners of the need for repairs.
- Accompany buyers on property visits and inspections, advising them on the suitability and worth of the properties they’re looking at.
- Provide suggestions to sellers on making their houses more appealing to potential buyers.
- When the details of a transaction need to be negotiated, an ISA will set up meetings between buyers and sellers.
- Provide clients with information about market circumstances, prices, mortgages, legal requirements, and other related topics.
- Examine mortgage choices to assist clients in obtaining finance at the best possible rates and terms.
- To stay informed about real estate markets, review property listings, trade publications, and pertinent literature, and attend conventions, seminars, and staff and association meetings.
- Examine a client’s financial and credit history to see if they are eligible for a loan.
- Create a network of attorneys, mortgage lenders, and contractors to whom you can send clients.
- Before displaying a property to a client, you should inspect it.
- For service hookups to clients’ properties, contact utility companies.
- To determine loan values, appraise properties.
- Solicit and create a list of available rental properties.
- With your firm or a mortgage company, secure building or acquisition finance.
- On behalf of clients, rent or lease properties.
- Locate and appraise undeveloped land for building sites based on market conditions in the area.
Reasons Why Every Realtor Needs an Inside Sales Agent
You have a lot on your hands. You have a few client meetings here and there, aiding your current client in closing the sale. You’ve scheduled several property showings. You want to call and follow up with your leads regularly, but there’s only so much you can do.
This is why every realtor needs an inside sales agent. An inside sales agent can assist you in reaching out to your internet leads and ensuring that they are contacted before someone else does. They qualify your leads and tell you which ones are ready to act and which ones need to be followed up periodically until they are ready to transact.
Your inside salesperson can help you save time, manage your leads, and get the customer ready to begin their real estate adventure with you.
Difference between Inside Sales and Outside Sales agents
The main distinction between inside and outside sales is the effect of location on the sales process. For example, an inside sales rep often sells from their desk or home. On the other hand, outside sales representatives travel and close deals.
Other significant distinctions between inside sales and outside sales include:
- Inside sales representatives deal with clients nearly exclusively remotely, whereas real estate outside sales representatives can work exclusively face-to-face or use both.
- Real estate Inside sales personnel can contact a more significant number of prospects in the same amount of time, but their closing rates are often lower.
- Outside salespeople have higher operating costs due to transportation and lodging and earn more significant wages.
- Because they are more likely to be from first-time customers, sales orders placed by inside sales professionals are often smaller than those handled by outside sales personnel.
- Outside salespeople must do more preparation work, such as gathering slides for a meeting or setting up a booth for a show demonstration.
- Without visual aids, inside sales agents should be able to close transactions.
Your next significant hire could be an Inside Sales Agent (ISA).
How much more productive could the rest of your team be if prospecting, lead follow-up, and administrative activities like CRM updates were delegated?
Aside from that, evidence suggests that hiring an ISA might result in a high return on investment for real estate companies.
Your firm will benefit if leads are immediately followed up and a robust method for prospecting for fresh leads is in place.