Let’s start by defining what “performance based” means: Basically, the amount you pay for a service is proportionate to the value you get from it. It’s time this came to real estate, and there’s no better way than Referrals. Most companies today sell “leads” which are cold, un-vetted, un-screened, unqualified, un-everything “name and emails” that […]
3 Reasons Why Response Time Matters
When a new lead comes in, about how long do you usually wait before reaching out? 30 minutes? 20 minutes? If you answered with any number over 5 minutes, you could be missing out on a decent chunk of income.
Here are 3 reasons why you should call new referrals ASAP:
1. Calling a lead in 5 minutes VS 30 minutes increases the chances of converting that lead by 21X
With information so readily available at our fingertips these days, it’s no wonder consumers grow impatient at a quicker rate than they used to. As a matter of fact, a recent study by Microsoft surveyed over 2,000 adults and found people now lose concentration after 8 seconds! That’s a shorter attention span than goldfish! This tells us that leads are more perishable than ever and when people want information from an expert, they want it NOW. So pick up the phone and get them the information they seek (before someone else does).
2. 70% of consumers will work with the first agent the meet face-to-face
This goes hand in hand with our first point – the quicker you get a hold of your prospect, the quicker you will be able to figure out a day and time that works for them to meet face, and then BOOM, you’re 70% more likely to have a new client.
3. 72% of people would work with the same agent again
Did you know some Realtors have a business based solely off of their referral business? If your client has a good experience with you, chances are they will go with you again or recommend you to friend or colleague. This stat shouldn’t just motivate you to be the first they talk to or meet up with, it should motivate you to stay in contact with your clients in one way or another. Newsletters or Facebook are 2 great ways to do so.
Well, there you have it. If these statistics aren’t enough to get you to call your leads a couple minutes sooner, I don’t know what to tell you…
(except that you should probably call leads sooner than you already do).