Making sure your response time is lightning fast is crucial to your success as an agent. If you are not responding to your real estate leads in five minutes or less (and making sure everyone on your team is doing the same) you can be sure that you are not converting and closing leads like you could be. Why lose perfectly good business before you even begin? The real estate leads are out there. It is up to you to make sure you are using the right techniques to convert these leads into customers.
The only way to be sure that you are responding to ALL real estate leads fast enough is to track it. For those of you who are familiar with our blog, us Loomlogic folk are big on data. Not complicated and confusing data, but the straight to the point, super useful kind of data. So, how do you make sure you have all of the data you need regarding your team’s response time? Read on and see…
1. Window of Opportunity: The First Five Minutes
First of all, we need to make sure we are all on the same page as to just how important response time really is. Research has shown that real estate leads that are responded to within five minutes of initial contact have a much higher chance of closing. And really, the faster the better. There is no such thing as responding to a lead too quickly… don’t worry, you won’t seem overeager! Chances are, real estate leads are contacting you because they are interested in learning information about a particular property. Home buyers are used to having instant access to information, and if they do not hear back from you quickly, they will move on.
Another reason it is so important to respond to all leads quickly is that it is so important to respond to ALL leads, period! Did you know that on average, approximately 50% of leads are not responded to at all? Real estate leads are ignored or forgotten about all the time, which is totally inexcusable. Using auto-responders to communicate immediately with each and every lead ensures that no one is slipping through the cracks. Be systematic with your approach. The more consistent you are at responding to real estate leads quickly, the better your conversion rate will be.
2. Full Speed Ahead With Your CRM
So, how do you make sure that your response time is as fast as it should be? Hiring a personal or virtual assistant can help you respond to leads quickly, but this can be costly and is still susceptible to human error. A more foolproof choice is to put your CRM to work for you so that you can be 100% sure that each and every lead is being responded to quickly. A CRM is an investment, but honestly it is kind of a no brainer. No other option will give you the security and convenience of a quality CRM. When deciding on which CRM to use, look for one with API integration. That way you can be sure that the system is not lagging, and that there are no holdups in getting leads to you in the first place. Auto-responders and drip campaigns are other “must-haves” that every real estate CRM needs. Also, as a team leader you should have your CRM set to automatically send real estate leads to the next available agent when one is unavailable. This way, leads will be responded to immediately by an auto-responder, and followed up with by a real person.
3. First Impressions
When it comes to communication with your leads, the more custom and personalized, the better. One of the benefits of using your CRM to automate that first communication with your leads is that you will have more time to add your own personal touch later on. Your first communication with your leads should be short and sweet. Think, short response time, short message. You want to let that person know that you are available to help them with whatever they need, and not overwhelm them with too much too soon. Give them a timeframe of when they can expect to hear from you again, and make sure you stick to it. This is part of creating a strong first impression. Establishing yourself as a professional, reliable, and speedy agent will set yourself apart from the rest as someone who leads are eager to work with.