Real Estate Internet Leads can be tricky.

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

 

 

 

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-Blogged 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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Rainmaker
168,599
Elisa Uribe Realtor #01427070
Wells and Bennett Realtors - Oakland, CA
California Homes for Sale in the East Bay

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

Aug 24, 2012 11:10 AM #143
Rainmaker
111,997
Jack Solloway
Right Choice Realty - Fort Myers, FL
There's Only One Right Choice in Real Estate

Thanks a lot. :-)

 

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

Aug 24, 2012 04:13 PM #144
Rainer
25,475
Dianna 201-895-1768
Keller Willliams Village Square - Saddle River, NJ
Your Luxury Foreclosure Specialist

Great Article, Thanks!

Aug 27, 2012 08:24 AM #145
Rainmaker
570,050
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

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

Sep 01, 2012 12:45 PM #146
Rainmaker
111,997
Jack Solloway
Right Choice Realty - Fort Myers, FL
There's Only One Right Choice in Real Estate

thank you neighbor.

Sep 03, 2012 05:13 AM #147
Rainmaker
575,651
Chris Smith
Re/Max Chay Realty Inc., Brokerage - New Tecumseth, ON
South Simcoe, Caledon, King, Orangeville Real Esta

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

Sep 04, 2012 05:06 AM #148
Rainer
2,983
Tom Minch
Follow Up Boss - Convert More Leads into Closings - San Francisco, CA

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.

Sep 21, 2012 05:35 AM #149
Rainmaker
264,391
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

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

Nov 15, 2012 04:53 PM #150
Rainmaker
692,771
Jeff Jensen
Annie Mac Home Mortgage - Greenwich, CT

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

Jun 23, 2014 02:47 PM #151
Rainmaker
594,209
Susan Haughton
Long & Foster REALTORS (703) 470-4545 - Alexandria, VA
Your Client-centric Alexandria VA REALTOR

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.

Jun 23, 2014 05:11 PM #152
Rainmaker
1,346,475
Richie Alan Naggar Author PEARLS SERIES of books
People first then business! Ran Right Realty Riverside, Ca - Riverside, CA
on LIFE and LOVE plus Real Estate too!

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

Jun 24, 2014 07:01 AM #153
Rainmaker
534,488
Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

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.

Jun 24, 2014 07:31 AM #154
Rainmaker
418,581
Pete X with X Group Real Estate Advocates, Huntington Beach, CA 714.459.2017 OCLister.com
Investments to Luxury - Huntington Beach, CA
Outstanding Agent Referrals-Nationwide

Jack,

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

Thanks!

Jun 24, 2014 09:29 AM #155
Rainmaker
111,997
Jack Solloway
Right Choice Realty - Fort Myers, FL
There's Only One Right Choice in Real Estate

You are welcome Pete.

Jun 24, 2014 01:45 PM #156
Rainer
6,250
Ron Swiger
Right Choice Realty, LLC. - Fort Myers, FL
Your Trusted Southwest Florida Realtor®

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!

Jun 24, 2014 02:34 PM #157
Rainmaker
682,518
Laura Allen, Lake Tahoe - Truckee Real Estate for Sale www.TahoeLauraLuxuryHomes.com
Coldwell Banker, Tahoe City, CA (530) 414-1260 - Tahoe City, CA
Tahoe Real Estate Agent Helping Buyers and Sellers

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

Jun 25, 2014 12:45 AM #158
Rainmaker
401,898
Nina Hollander
RE/MAX Executive Realty/Charlotte, NC - Charlotte, NC
Your Charlotte/Waxhaw/Fort Mill Area Realtor

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!

Jun 25, 2014 05:07 AM #159
Rainmaker
118,046
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

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.

Jun 25, 2014 08:11 AM #160
Rainer
3,114
Gib Barker

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

Jul 08, 2014 01:02 PM #161
Rainmaker
112,284
Tammy Adams
Maricopa Real Estate Co - Maricopa, AZ
A Maricopa Agent who Works, Lives & Loves Maricopa

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! 

Jul 09, 2014 09:52 PM #162
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There's Only One Right Choice in Real Estate
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