The following is the introduction to our latest eBook, “The Truth About Online Leads, The opportunity that real estate brokerages are missing.” If you find the information compelling, download the study to find out more!
Online leads have long been misunderstood in real estate. Agents don’t think they are valuable. Brokers struggle with converting the leads they generate and calculating return on investment.
The full lifecycle of a lead generated via a brokerage website is still very much a mystery to most brokers.
Until now, we’ve been unable to answer questions like: How many online leads actually close a transaction? How long does it take from the day a lead is generated until the they buy or sell a home? Does a brokerage website generate more buyer leads or seller leads? Are efforts to generate leads on a brokerage site wasted or worth the money? Are the follow-up methods being used effectively in convert leads into customers?
Few brokerages possess the data needed to answer these questions and concerns.
We know that the vast majority of home buyers and sellers use the web in their shopping process. Brokerages, however, rarely see conversion ratios on their website leads that are above a few percent.
We don’t think brokers should settle for low conversion rates. To get at some conclusions around follow up and length of incubation, we conducted this study to get more detailed answers to our questions.
We surveyed 501 leads generated by our platform on broker client websites we developed and host. Our goal was to find out how many of the leads had completed a transaction and the time it took between initial lead contact and close. In short, we wanted to figure out if the leads being generated were real opportunities or wasted effort on tire kickers.