agent responsiveness

Your Spam Filter May Be a Lead Source

by Victor Lund on July 23, 2014

Leads sometimes come from humans. That’s a light joke. The point it is that when technology companies test lead capture and routing systems, they typically test them with stock lead content. Unfortunately, many real human leads do not contain stock text. Real humans write real questions and sometimes use language that may not be white listed for your spam filter. **It happens! One of the good ways to check your lead generation and delivery engine is to compare reports. Look at the lead reports that you get from publishers like Trulia, Zillow, Realtor.com or Homes.com. Look at them carefully and pull a sample set of the leads and check your lead delivery tool to see if they made it through.  Every broker I speak to tells me that the leads reported from publishers are always higher than the portals’ lead count in the broker’s back office system. Where did the leads go? They probably went into the spam filter. In January of 2014, WAV Group released what is believed to be the largest study of lead responsiveness : If you did not get a chance to read it – please do. http://waves.wavgroup.com/2014/01/13/agent-responsiveness-study-reveals-critical-flaws-in-real-estate-lead-response/. The observations are pretty bleak. 48% of buyer inquiries were NEVER responded to Average response time was over 15 hours. Could the spam problem really be that big? Probably not, but it may be significant in your business. Check your spam filter to find out. You may realize that your spam filter has a bunch of leads in it. When you find false positives in your spam filter, it is important to train the filter to let those emails through. One broker we know took the drastic measure of blocking email from a company that was pounding their agents with sales and marketing information. When they did that, they did not realize that they would also be compromising or blocking all of the leads from that company. OOPS! Brokers are becoming more and more like technology companies every day. Keeping pace in this ever changing world requires that brokers have a good understanding of how technology works – or employ staff or advisors that do. If you are lacking this in your business, you better consider a plan to fill that void sooner rather than later. Somehow I don’t think that technology is going away anytime soon. p.s. be sure to test leads generated on company listings and […]

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A new whitepaper reveals that failure to respond to leads in a timely manner is a major problem for many real estate professionals. The whitepaper is the result of the collaboration between partners at leading consulting firm WAV Group and Weichert Lead Network, the Internet lead generation arm of Weichert, Realtors. What they uncovered was remarkable and could help real estate professionals achieve new levels of service and prosperity. In the whitepaper, WAV Group details lead responsiveness results from a sample of 384 different brokers across 11 states. Researchers posed as consumers and inquired about listings on broker websites, Zillow.com, Realtor.com, and Trulia.com. They found that: 48% of buyer inquiries were NEVER responded to. Average number of call back attempts after the initial contact was 1.5 Average number of email contact attempts was 2.07 Average response time was 917 minutes (or 15.29 hours) Victor Lund, partner at WAV Group explains, “These numbers reveal a staggering failure of real estate professionals to serve the consumer. But this failure actually represents an important opportunity. If brokers and agents take steps to rectify this problem, and respond more effectively to consumers, they are opening the door to a great increase in revenue.” As previously mentioned, the research began as an effort to help one company, Weichert Lead Network, understand how they were performing. But in order to understand their effectiveness, they needed a benchmark. Because so few companies are comparable to Weichert in size or leads generated, WAV Group needed to create a sample group from the industry as a whole. They chose listings only in states where Weichert also has a presence. In addition to illuminating the industry’s failings, the results also demonstrated Weichert’s success: Number of leads generated by Weichert per month: 60,663 Percent of buyers responded to: 100% Average response time: 3 minutes Number of follow-up attempts: 5-11 Number of referrals per year: 301,772 “Even as Weichert Lead Network’s contact center allows us to respond to Internet inquiries within minutes, the study results will be eye opening for many,” says Michael Montsko, president of Weichert Lead Network. “The industry as a whole does a poor job responding to Internet inquiries and managing Internet leads, but fortunately there is much room for improvement in this area. For example, at Weichert, we have invested in WeichertPRO, our new customer relationship management system that helps our agents incubate their customer relationships. Our ability […]

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