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5 Harsh Realities of Online Lead Generation in Real Estate

Posted by Carrington Real Estate Services on August 14, 2014 at 11:00 AM

sales_funnelOver 90% of consumers rely on the Internet as their primary search tool when buying or selling. 

Successfully converting online leads isn't just about driving traffic to your website and getting a user to register to your IDX. 

Successful lead conversion requires a proper follow up sales process once a lead has registered. 

Here's a few harsh realities of playing the online lead gernation and conversion game ... 

Harsh Reality #1: 79% of leads never turn into sales. 

This is often ue to little or no response from an agent. 

If you want to succeed at converting online leads then you need to develop a sales process and make proper follow up a part of your daily routine. 

Here's what you should be doing on a daily basis: 

  • Follow up with leads who are requesting showings immediately, 
  • Setup e-Alerts to keep site visitors coming back to your website, 
  • Use things like drip-campaigns to nurture leads that aren't ready to act right now, 

Doing this will help you create opportunities to engage your contacts in conversations about buying or selling real estate.

Harsh Reality #2: Generating and converting online leads is a numbers game. 

You're not going to convert 100% of the leads that you generate. So it important to continue working your inbound strategy to drive traffic to your site and get visitors to register. 

Then, with the proper sales follow up process, just keep working the numbers. 

Are you following up with all new leads? Are you setting up your e-Alerts and drip-campaigns? Are you answering consumers questions? 

How many deals do you currently have pending from your efforts? What can you do to convert and add a few more each week ... each month!

Harsh Reality #3: 40% of online leads only get contacted once by an agent. 

In a perfect world a consumer would answer a call from an agent on the first call attempt. But that rarely happens.

The thing you have to realize is that the consumer might be working a 9:00 - 5:00 job. Or maybe they are still 3 - 6 months out from making a purchasing decision so they are just browsing the site to see what's out on the market.

This doesn't mean however that you should disqualify them as a lead simply because they didn't answer your first call attempt.

Instead, you should be following up regularly and multiple times. Veloficy research shows that more than half of all prospects that eventually convert into a sale are reached after the first contact attempt.

Harsh Reality #4Lead conversion is 57% lead quality and 43% sales process. 

You can generate online leads any number of ways: 

  • Creating hyperlocal content to drive visitors to your IDX powered website, 
  • Invest in a pay-per-click campaign, 
  • Syndicate your listings to portals like Trulia and Zillow, 

Once you've generated those leads you need to focus on properly executing your sales process. Things like: 

  • Calling/emailing new registered users to let them know that you are there to help them with their buying/selling needs, 
  • Setting long-term buyers on a proper drip campaign, 
  • Following up weekly with leads that are most active on your website searching for homes, 

Proper lead conversion is a two-part process. The first part is driving users to your website and getting them to opt-in to your home search. The second step is working your sales process daily to help them submit an offer on a property!

Harsh Reality #5: This is a long-term strategy, not a short-term one. 

If you're looking for over-night results you are going to be disappointed. Generating and converting online leads takes time, effort, and daily execution.

That means being there day-in and day-out to answer your prospects questions.

Organizing your morning routine to qualify new leads and follow up with hot leads. 

Conclusion ... 

You might not see results in a day or even a week. But continue to work the numbers and execute on your sales process day-in and day-out and you'll start to see the results of your work pay off! 

Join Us for a Free Webinar! 

 

Let’s take a look at how to more effectively work online leads to meet consumers' needs and grow your business.

When: Thursday, August 21, 2014, 10am PDT, 12pm CDT, 1pm EDT

Topics: Agent Resources

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