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No More Losing Leads: The Five Minute Rule and Acquisition of FiveStreet

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By Frederick Herot

For years now, we have talked about the issue of losing leads because of the time it takes to respond quickly. In reality, five minutes of waiting for a response can still be too long considering a competing listing is just one click away.

Our teams at realtor.com®, TigerLead® and Top Producer®, Inc. plus a select group of some of the best agents in the business spent months together in meetings, webinars, at events and on the phone focusing on the issue. What came out of this were two areas we needed to focus on: response time and systemized (but personal) follow-up.

Realtor.com® and TigerLead® were producing an abundance of leads, and some agents were closing them easily. What was gratifying to us was the fact that many of the best agents used Top Producer® CRM to capture the lead and follow-up systematically.

But there was a gap in two areas: In many cases even if an agent or small broker had other team members to back each other up when things got busy, there was a need to figure out who would jump on the opportunity and make sure someone was “on it.” Otherwise it could be like bad fielding where the ball drops between two players, each assuming the other was going to catch it.

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