RISMedia's Real Estate Magazine

NOV 2014

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/402040

Contents of this Issue


Page 50 of 142

46 November 2014 RISMedia's REAL ESTATE Before you spend money on an ad campaign or lead-buy program, there are three steps you need to take to ensure that your invest- ment is going to result in the de- sired return. Step 1: Have proper tracking in place A client relationship management (CRM) tool is critical. If your CRM tool is your email inbox, then you will fail. You need a system that will keep track of incoming leads, and you need to be committed to us- ing that system. Successful agents document every interaction with a lead and utilize the CRM functional- ity to schedule follow-ups. People often ask me, "What is the best CRM to use?" My an- swer is the one that you're going to commit to using. I have a favorite CRM tool, but the reality is that it doesn't matter. Committing to us- ing the system is where the real key to success lies. Step 2: Have a proper lead conversion plan Internet lead gurus convert online leads because their lead conver- sion plan is the right combination of response time and ongoing fol- low-up. MIT recently performed a sales study that determined that you're 100 times more likely to reach a lead if you call within the frst fve minutes of registration. Are you contacting your leads as soon as they register? Not only is call-response time critical to your success, so is prop- er follow up and lead nurturing. Drip campaigns, e-alerts and moni- toring tools are all components of successful follow-up. Step 3: Understand where your leads are coming from. Are they shared or exclusive leads? For a smaller cost per lead, you can purchase leads that are consid- ered "shared leads." Shared leads are leads that have been given to you and at least one other agent at the time of registration. If you're buying shared leads, response time is critical, so you should plan ahead. If a lead comes in, you'll want to be the frst to respond. On the other hand, leads coming from a pay-per-click campaign will be exclusive, meaning only coming to you; however, they usually cost more and may or may not be a bet- ter lead. Success with online leads comes from developing a system and working that system. If you're interested in more information on this topic, send me an email and request our white paper, "How Suc- cessful Agents Capture, Convert, and Cash-In With Online Leads." RE Wendy Forsythe is the executive vice president and head of global operations at Carrington Real Estate Services, where she is responsible for the operations and growth of the national brokerage with offces in 22 states and 1,500 agents. You can email her at wendy.forsythe@carringtonres.com. To learn more about taking your career to the next level with Carrington Real Estate Services, visit www.carrington- realestate.com/join. 3 Steps to Getting the Most out of Your Online Leads by Wendy Forsythe I f you want to build a successful and profitable real estate business, then you need leads, and lots of them. Online leads can add to your bottom line and be a tremendous source of income, but most real estate professionals haven't put the right systems into place to really monetize these opportunities.

Articles in this issue

Links on this page

Archives of this issue

view archives of RISMedia's Real Estate Magazine - NOV 2014