You are reading Hard to Believe

According to NAR 48% of internet real estate leads go unanswered and the other 52% are responded to in a matter of days, not hours. That is simply UNACCEPTABLE in today’s internet-driven real estate consumer environment.

I “secret shopped” eight clients yesterday. I randomly sent e-mails to five real estate agents per company at lunch time. That was 40 e-mails saying I was interested in buying real estate in their towns and gave them a price range plus asked them to tell me about themselves and their real estate companies. I was also specific about the fact I expected e-mail responses because I was not ready to talk to anyone on the phone yet.

40 e-mails. Specific instructions.

What have been the results in the ensuing 34 hours?

Keep in mind… every study tells you today’s internet consumer expects an immediate response. Furthermore, NAR states that 74% of real estateconsumers pick the first agent that responds regardless of their experience level or just about any other metric you might measure a real estate agent by.

Drum roll please…

40 e-mails. Specific instructions.

Results please…

2 calls within the hour, 1 call within 5 hours, 1 call within 10 hours.

THAT’S IT!!

36 out of 40 have still not responded after 34 hours!!

I realize this is not a scientific poll, however, if you are a real estate broker you should be asking yourself the following questions:

  • Why am I not “secret shopping” my agents?
  • How much money might I be leaving on the table?
  • Why am I not holding people accountable?
  • Why don’t I have a system for tracking this?
  • Why am I risking all the investments I have made in driving traffic to my siteWhy am I risking all the investments I have made to keep people on my site so they want to do business with my company?
  • Why am I leaving all this in the hands of someone else?

Inspect what you expect!

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Posted on 10/15/2009 by in Internet Solutions, Real Estate Consulting Blogs

About Jose Perez

Jose's vision is focused on helping brokerages bridge the gap between the growing expectations of consumers and the lack of innovation the industry has been able to deliver over the past few years. As a result, PCMS has become synonymous with broker REinvention. Programs like Camp REinvent™ as well as hard-hitting blogs, articles, and speaking engagements, have solidified Jose’s industry leadership position and helped double PCMS’ revenue in 2010. As President of PCMS Consulting, Jose is responsible for driving the growth of the organization while maintaining a pulse on the needs of his clients. Since many brokerages rely on his advice as they strive to REinvent their businesses, he and his team are committed to vetting as much as possible so clients don’t have to.
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One Response to “Hard to Believe”

  1. Patty Massare 10/30/2009 at 12:28 pm #

    Amen Jose!

    It really is hard to believe isn’t it! I would have made the assumption that you would only get a few immediate responses, but to receive responses to only 10% after a day and a half!

    Leads have always been ‘thrown away’ at brokerages . . . that hasn’t changed . . . but the industry can’t afford to operate this way any longer. Things are changing . . . and for the better . . . and more brokers are going to wonder who to blame!

    I’m going to take a few minutes now on a similar exercise, and if the results prove interesting I’ll share them.

    Take care,
    Patty

    Reply

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