The larger your lead database, the more successful your business will be. We have seen a direct correlation between real estate growth and the size of a lead database. Seems like a no-brainer, right? More leads equals opportunity. In fact, we’ve discovered that teams investing in lead generation efforts experience a compounding growth effect. Over eight years, they typically see growth in production volume by 4x.
So how do you tackle it all and keep up with that treasure trove of a database?
The Time Conundrum
What goes into managing a database?
Say you’ve got 1,000 leads. Maybe 25 percent of those are “nurture” leads you’re reaching out to. You have your eye on a handful of leads that are six months out from being ready to buy. Maybe 25 new leads this week registered on your site, and they’re ready to talk!
On top of that, you have past clients to follow up with, cold leads to circle back with…oh, not to mention the day-to-day of running your business.
Historically, people have turned to technology to make that work easier. But there’s an emerging factor that could be the key to assuring success in real estate: lead support services for agents.
Getting Off the Hamster Wheel
We’ve already highlighted how your lead database impacts your potential for production volume. But now imagine all those leads. An agent has to make the initial engagement. Oftentimes, they have to nurture them for up to a year! They have to constantly engage and re-engage with them. And when they become an active “client,” they have to provide exceptional service.
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But, you didn’t get into real estate to chase every new lead, right? To be glued to your phone, at-the-ready to respond at a moment’s notice? No—you got into real estate to make connections, have conversations, solve problems. You got into real estate to sell real estate! But, as we all know, it’s critical that someone chases those leads and that new leads are responded to immediately.
So if you want to squeeze every cent out of your growing database, you have two choices:
- Be in 100 places at once.
- Invest in the right support.
The Missing Ingredient
Technology can assist with those tasks, but a supporting service, like RealContact for example, would enable agents to focus on the biggest dollar-productive activities: handling clients. This extra “support” takes care of the lead engagement. It manages the lead-nurturing. And when coupled with technology, it accelerates lead conversion.
So when you get a lead at 2:00 a.m. and you’re sound asleep, there’s someone ready to reach out immediately.
Let’s face it: The real estate hustle is real. The more you grind, the more successful you’ll be. But now there’s a way to capitalize without burning out. The way to assure success in real estate is by investing in the right support services that will allow you the time to focus on dollar-productive tasks—to get off the hamster wheel and get back to selling real estate!