Recent NAR studies have shown that nearly 48% of real estate agents don’t respond to leads generated on the internet. For the leads that do receive responses, the average response time is 8 hours after the initial inquiry. In an age where most consumers expect an answer at least within an hour, waiting 8 hours to respond will ultimately result in a lost opportunity.
In the Lead Response Management Study, published by Dr. James Oldroyd, research showed that “the odds of making a successful contact with a lead are 100 times greater when a contact attempt occurs within 5 minutes, compared to 30 minutes after the lead was submitted.”
We know you have better things to do than sitting on your phone all day and responding to every new lead that you get. That’s where a CRM comes in! Using a CRM that automates your follow up to respond immediately to all new inquiries ensures that you will be able to consistently respond to every single new lead that expresses interest in your service.
One of the biggest challenges that real estate agents face is being overwhelmed with the quantity of leads in their database, and not knowing where to start. Using a CRM like PropertySimple’s helps you prioritize your follow up and improve your sales pipeline by identifying and showing you your hot leads that are most likely to convert. Once you can hone in on the top 10-20 leads that you need to focus on that week, you’ll be able to focus on the opportunities that will really move the needle for your business.
As a real estate agent, one of the best ways to increase your conversions and close more deals is by making sure that you are at the core of your local and global real estate market. Looking to move? YOU are the person at the top of everyone’s contact list. Have a friend that’s thinking about selling their home? They should be calling YOU! Need recommendations for what to do this weekend? YOU are the local expert who always shares ideas. Not sure how to get pre-approved? YOU can help! All of these conversations help you nurture your database and ultimately, work with more clients and close more deals.
So how can you achieve this? To keep yourself at the center of your market, real estate coach, Tom Ferry, explains that you should be contacting every single person in your database with a personalized message at least every 90 days.
A CRM allows you to do this by organizing all of the information and interactions you’ve ever had with your database. It’s simple to click on a contact, quickly see all of your past conversations you’ve had and notes that you’ve taken about that person. With this information at your fingertips, you can easily craft messages that are personalized to that contact’s needs that help you stay top of mind with your network.
If you work on a team with multiple real estate agents, a CRM is essential to make sure that everyone is on the same page and has access to complete information about interactions with clients and leads.
CRMs have been shown to increase productivity by 34%, which gives you more time to work with clients and close deals. When you’re not overwhelmed with administrative tasks related to organizing your database, or follow-up that can be easily automated, you’ll be surprised at how much more business you can do!
Ready to start using a CRM to increase your conversions? PropertySimple’s CRM for real estate agents is specifically designed to work your leads for you so that you can spend more time closing deals. Come see how it works!