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Sign into your accountDo you know the cost of 1%? Industry secrets on conversion.
February 02 2016
As an industry, we've become hyper-focused on lead generation. Brokers, teams and agents invest valuable time and resources on website development, marketing strategies, SEO and systems to capture opportunities generated from online leads. Yet there are so many conditions that need to be met for these leads to result in a sale that, as a whole, industry conversion rates hover around 1 to 2%.
Consider this common dilemma: There are roughly 6 million home sales in the U.S. annually, yet there are approximately 15 million online leads generated. It's mathematically impossible for all of these leads to convert. As such, many agents are reluctant to put a transaction-ready customer on hold to jump every time an online lead comes in. This only adds to the problem, as frustrated consumers send more inquiries hoping an agent will respond.
Despite these difficulties, 44% of homebuyers manage to find a property they purchase online - and many of them find the agent they transact with on realtor.com®.
A big contributor to this is starting with accurate data. You can't sell a property that's not really for sale. But, the ability to respond first and have a meaningful exchange in the critical first five minutes when the consumer is asking for help makes all the difference.