Internet Buyer Leads. Two Tips That May Save You Thousands.

By
Industry Observer with Right Choice Realty
http://actvra.in/GDr

Right Choice Realty

 

Internet leads can be hazardous to your health and your wealth as I found out the hard way a few short years ago.  Here's a quick recap of my story.  Between January and May 2012 I accumulated 685 internet leads from a push ad campaign targeting buyers from cities around the country that LOVE Lee County, Florida homes.  That was the easy part. 

Now, I assigned these leads to a group of ten agents with high hopes that we would close 1 out of 10 leads and whoopee, the money flows in.  The leads cost me roughly $14,000 in ad expenses over a year and my journey to recoup the initial investment began.  Or so I thought.  Most of my agents had very few positive experiences in performing follow-up on "internet leads".  They were pretty good at sign calls and such, but, internet leads pose several hurdles that many agents fail to recognize and adjust to.

Hurdle #1   -  Internet leads are clicking around faster than buyers in cars can drive around inquiring about homes.  You are likely not the only "lead gatherer" who will be vying for the clients attention.

Rule # 1    -   Get to the potential client FAST, FIRST and Friendly!  Remember these are internet leads and the folks are clicking away on more than just your site.  First come first serve.

Hurdle #2  -   Internet leads typically begin their search earlier in the "home shopping" process and may require a longer "incubation period" than your average yard sign caller who is actually on the buying fast track in comparison.

Rule # 2   -   Don't abandon the lead early.  Early termination of working an internet lead can be costly to the purchaser of the lead and to the expectations of the Realtor assigned the lead.  Patience and diligence is key.  Not everyone is cut out for this type of lead as I certainly found out.

The good news for me?  Internet leads typically begin their search earlier in the "home shopping" process and may require a longer maturation time than your average sign caller who has more immediate goals.  I was actually able to recover and get several more closed.  Also, I have about 45 buyer leads actively participating with one of my agents currently.  This Realtor was originally a part of the initial experience. He is so loving life right now.  As a matter of fact, he closed one this past month that was literally 20 months old.

In closing, I believe setting the proper expectations on time to close with the responsible agent(s) is crucial. Failure in this area may negatively impact your team's ability too convert internet leads or even want to try, period.  Take it from me; "Inernet Leads are Tricky".   

 

Best of Luck,

Jack Solloway, Mng Mbr

Right Choice Realty, LLC

 

Check out "AWAKEN" on my website, it's for nature lovers!  Here's the LINK:     "AWAKEN" The nature video that's going VIRAL!

 

 

Fort Myers homes, Internet Leads, Lee County homes, Sanibel homes, Bonita Springs homes, Estero homes, Naples homes, Cape Coral homes, Right Choice Realty, Internet Lead Conversion, Real Estate Leads, Florida homes

 

 

Posted by

Jack Solloway, President & Founder

Right Choice Realty, LLC

(239) 333-BEST

www.333-BEST.com

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Re-Bloggged 5 times:

Re-Blogged By Re-Blogged At
  1. Dan Rosenberger 08/21/2012 07:08 AM
  2. Nikesh Parekh 08/21/2012 09:10 AM
  3. Marte Cliff 08/21/2012 11:36 AM
  4. Dianna 201-895-1768 08/27/2012 08:32 AM
  5. Winston Heverly 01/09/2013 10:11 AM
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Show All Comments
Rainmaker
160,539
Elisa Uribe- Realtor
Oakland CA Homes for Sale
Wells and Bennett Realtors

Perseverence pays off! I love your post, you just knew this would work and found a way to make it successful. Very inspiring. thank you

August 24, 2012 11:10 AM
Rainmaker
101,246
Right Choice Realty
Buying or Selling a Home, Make the Right Choice
Right Choice Realty

Thanks a lot. :-)

 

"Like" me @ https://www.facebook.com/TheRightone1 if you enjoyed my post.  Thanks.

August 24, 2012 04:13 PM
Rainer
24,130
Dianna 201-895-1768
Your Luxury Foreclosure Specialist
Keller Willliams Village Square

Great Article, Thanks!

August 27, 2012 08:24 AM
Rainmaker
570,044
Bill Gillhespy
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos
16 Sunview Blvd

Hi Jack,  Great insight into the difference between the two types of buyers andalso the timeline.

September 01, 2012 12:45 PM
Rainmaker
101,246
Right Choice Realty
Buying or Selling a Home, Make the Right Choice
Right Choice Realty

thank you neighbor.

September 03, 2012 05:13 AM
Rainmaker
563,524
Chris Smith
South Simcoe, Caledon, King, Orangeville Real Esta
Re/Max Chay Realty Inc., Brokerage

Jack, great information.  We need to adapt to the changing world.

September 04, 2012 05:06 AM
Rainer
2,981
Tom Minch
Follow Up Boss - Convert More Leads into Closings

Jack, thanks for sharing your story.

If you are a broker, training your agents to work with internet leads is the key. Internet leads are different from your "old school" leads and require somewhat different approach although many classic rules still apply, so here we go...

The most important thing - get your agents to call the leads as soon as they arrive. You actually need to call them, just emailing is not ok. Calling is important because:
1) agent can qualify the lead, are they serious?
2) find out what they are looking for and send relevant information
3) ignite a relationship, they'll remember the agent they talk to, not someone who just emailed them

For sure, you cannot call a lead if you don't know her phone number (and that's why leads with phones work much better). Sadly, we've seen too many agents not calling the leads even if the correct phone number is on file!

Having a system to have anything organized is important as well. Once you have more than a handful of leads, burring them in your inbox is not an option anymore! Get a proper lead management system and don't let them fall through the cracks.

September 21, 2012 05:35 AM
Rainmaker
261,430
Wayne B. Pruner
Tigard Oregon Homes for Sale, Realtor, GRI
Oregon First

Good post and good comments. You really put your money where your mouth is.

November 15, 2012 04:53 PM
Rainmaker
645,134
Jeff Jensen
Annie Mac Home Mortgage

You are quite correct.  To make the leads work one needs to pounce quickly and hang on like a junkyard dog!

June 23, 2014 02:47 PM
Rainmaker
497,966
Susan Haughton, REALTOR Alexandria VA Homes for Sale

Great post and helpful comments;  in today's fast paced world, people DO expect us to be available when convenient for them.  I don't need business badly enough to answer the phone at 1 a.m. but someone will and kudos to them.  Internet leads need to be cultivated and responded to, sometimes it does take them a while to make a move, but it does often happen.

June 23, 2014 05:11 PM
Rainmaker
1,203,318
Richie Alan Naggar Author PEARLS SERIES of books
on LIFE and LOVE plus Real Estate too!
People first then business! Ran Right Realty Riverside, Ca

You still have to weed out the spammers and all those trying to get into your hardware

June 24, 2014 07:01 AM
Rainmaker
532,660
Morgan Evans
LICENSED REAL ESTATE SALESPERSON
Douglas Elliman Real Estate

Definitely not easy leads to convert, really following up and not getting discouraged that a lot of emails and phone calls will not be replied to is good advice.

June 24, 2014 07:31 AM
Rainmaker
343,351
Pete X-Investment to Luxury, Huntington Beach, CA -GRI-MCNE 714.459.2017 OCLister.com
Outstanding Agent Referrals-Nationwide
X Group Real Estate Advocates

Jack,

This is some great timely advice as I begin to invest big time online.

Thanks!

June 24, 2014 09:29 AM
Rainmaker
101,246
Right Choice Realty
Buying or Selling a Home, Make the Right Choice
Right Choice Realty

You are welcome Pete.

June 24, 2014 01:45 PM
Rainer
5,898
Ron Swiger
Your Trusted Southwest Florida Realtor®
Right Choice Realty, LLC.

Great reminder Jack for me not to be discouraged about the lack of response. I need to just keep sending emails and making follow up calls! As competitive as the market place is for realtors to convert the leads before someone else does is the tough part... Inspiring read for me as I grow! Thanks for the post! I hope to not let you down!

June 24, 2014 02:34 PM
Rainmaker
637,856
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Tahoe Real Estate Agent Helping Buyers and Sellers
Coldwell Banker, Tahoe City, CA (530) 414-1260

Jack - Great internet lead tips to get to them, hold onto them, and convert them!

June 25, 2014 12:45 AM
Rainmaker
339,177
Nina Hollander
Your Charlotte/Waxhaw/Fort Mill Area Realtor
RE/MAX Executive Realty/Charlotte, NC

I do a lot of internet lead generation as well and these are points I've always followed, including that I never "give up" on a lead until they stay STOP!

June 25, 2014 05:07 AM
Rainmaker
78,087
Hella M. Rothwell
Real Estate Broker/Owner in Carmel-by-the-Sea CA

So far, unless they are MY Internet leads, I have not purchased any. To handle such a quantity, you need a team that will actually follow your list of what to do.

June 25, 2014 08:11 AM
Rainer
3,112
Gib Barker

The challenge is to engage, at least, weekly with a diverse and informative drip campaign I have been told.  Great article

July 08, 2014 01:02 PM
Rainmaker
47,242
Tammy Adams
Are You Looking to Sell or Buy in Maricopa?
Maricopa Real Estate Co

I think part of the key next to patience is to provide information. Once they see you are a great resource, slowly but surely you become their sole resource vs multiple people. Eventually as you have mentioned when they are ready, your goal is to have an established relationship that pays off! 

July 09, 2014 09:52 PM
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Rainmaker
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