"The Internet Lead Coordinator"

[jamesww]

I always liked hearing what Lou had to say here on the forum but more recently I have been impressed with a couple of his blog posts. The most recent of which makes the most sense and I think is of a great deal of value for those who are developing a team or brokers who are struggling to have a reasonable conversion of leads.

I remember Morgan had made a post recently stimulating discussion on what kind of conversion people were seeing. Most individuals numbers were rather small and I think it is likely they are missing what Lou discussed in his post about the internet lead coordinator. I think this is a must read for anyone serious about building a business model on internet marketing. So, spread a little love to those you know and want to succeed and if you have a competitor you don't like that makes it onto the forum maybe you can have Morgan hide the thread when they come onto the site. Alright it is getting late and that last line was a bit goofy, so I think I am done now.

[stevetrang]

This is a very useful point that I'm sure many people miss. I wish I could coordinate this, but right now, I'm still the salesman, admin, internet guy, accountant, etc.

[scottiegrace]

This is a very useful point that I'm sure many people miss. I wish I could coordinate this, but right now, I'm still the salesman, admin, internet guy, accountant, etc.

Same here almost. I gotta do a ton of stuff and find it hard to get to everything.

[loudog]

@jamesww - Once again thanks for the kudos. Glad to have you as a reader.

@scottiegrace and stevetrang - I mentioned in my blog, that as a first step, it is best to have the lead machine administered by the broker/manager/team leader as a way of creating the follow up system that best suites your market. Once the system is up and running (and successful) then it is time to hire the lead coordinator, so doing it all yourself is the best way to start. The only thing I would suggest is to take lots of notes as to what you find to be effective as you create your system.

[rvolk75]

What do "Lead Coordinators" go for? Are they on salary plus commission, commission only, salary only? What's the typical scenario?

If I were to hire one today, what should I expect to pay?

[GregPDX]

I'm in a position where I could certainly use a coordinator, but not sure if I can afford it just yet. But, can I afford not to???

[First Time Home Buyers]

What do "Lead Coordinators" go for? Are they on salary plus commission, commission only, salary only? What's the typical scenario?

If I were to hire one today, what should I expect to pay?

I am just hiring my assistant. She is going to be documenting everything I do, and from there we will pick the things she is best suited for.

I asked a few other Agents on my team what they pay their admin help. They said about $15/hour on average.

So, I am having her start now and work 10-15 hours a week. This is only going to be about $6,500 for the rest of 2009. That means, as long as having her means I can close 2-3 more sales, she will have paid for herself. Everything above that is pure profit margin for me.

And, my goal is to be able to increase productivity next year as well, so by her starting to get the hang of it now and build the strong foundation, it will only lead to more sales and money down the road.

(BTW, I got licensed May 2008 with no business or Real Estate experience, and already have 13 sales on the books in the first 12 months of my career).

[scottiegrace]

What do "Lead Coordinators" go for? Are they on salary plus commission, commission only, salary only? What's the typical scenario?

If I were to hire one today, what should I expect to pay?

I would suggest the only way to go is an incentive program(commission or salary+commission). Otherwise how do you know that the lead coordinator is working the leads to their full potential.

[stevetrang]

(BTW, I got licensed May 2008 with no business or Real Estate experience, and already have 13 sales on the books in the first 12 months of my career).

Not bad!

[donnalong]

So, I am having her start now and work 10-15 hours a week. This is only going to be about $6,500 for the rest of 2009. That means, as long as having her means I can close 2-3 more sales, she will have paid for herself. Everything above that is pure profit margin for me.

And, my goal is to be able to increase productivity next year as well, so by her starting to get the hang of it now and build the strong foundation, it will only lead to more sales and money down the road.

(BTW, I got licensed May 2008 with no business or Real Estate experience, and already have 13 sales on the books in the first 12 months of my career).

First, congratulations on a great first year.

Second, I think you have made a very good decision. We did this when we first started and it helped propel us much further down the road. Most people are afraid to hire an assistant. We see it as an investment just like having a nice website. Those 2 are essential for us.

One word of caution is: Make sure you hire someone who is organized and can help you develop your systems and that they can think for themselves. We went through a couple of assistants who were worthless.

Hire Slow and Fire Quickly