Once you have generated a lead, the game has really only just begun. Until your in-house staff or your agent makes a personal connection with the lead, it represents only potential. Converting potential into dollars is where lead management and best practices come into play.

Below are four actions that will dramatically improve your lead conversion performance and profitability. In this discussion, I am talking about contactable leads. This is someone who has expressed an interest in being contacted in order to receive more information on a listing, to schedule a showing, or receive a CMA. This is in contrast to IDX site registrations (either voluntary or forced) and other website forms that do not convey a true or actionable interest.

Make Contact in Less Than 30 Minutes

You are probably sick and tired of hearing those of us in the lead management business screaming that you need to make contact in minutes, not hours, and certainly not in days. We do this for one simple reason: it works. There is no one action you can do that will convert leads into prospects better than making contact FAST. Period.

You've heard about the MIT study that shows that the chances of making contact are tens of times better the sooner you call. LeadQual's research showed that of the leads that convert, 65% do so on the first call attempt. Then there is the research from NAR which shows that 75% of serious leads will work with the first agent to make contact. Do you know that over 50% of leads are never contacted and 75% of those that are contacted are contacted after more than a day? This leaves the court wide open for your agents to be the first to call.