[RESteve]

I notice there's a big gap between week 1 and 6. Do you track the amount of leads you lose (if any) in that time period? I personally like touching my leads on a weekly basis if they're within 3 months, but it seems your touch frequency is much more relaxed...

[Gloria Singer]

How do you divvy up the leads amongst your agents? Round robin or whoever gets to it first? My problem is my buyers agent is often out at appointments so can't respond quickly enough. I would like to bring on another one or two but wasn't sure how to dispense the leads.

[Mitch]

Steve - You have to remember, there is much more going on with our leads than just our phone calls. There is a lot of emailing back and forth between my agents and their customers. On top of that is our auto listings update system as well as our drip campaigns. We are in touch with them a lot!

With that said, there are some customers that need more help and others that need less. The key is to create a bond and build trust with your customer. We try to spend the right amount of time with each customer that is needed.

The reality is, if my Agents called all their leads on a tighter schedule we would most likely sell a few more homes. However, my average Agent has over 1,200 leads in their system and many have 2,000 leads or more in their system. At this point, it's just a matter of doing the best you can with your leads. Our sole job is to drill down and find our most active leads in our system. Those are our buyers. I know that I'll lose 100+ sales each year. Last year I counted 176 sales I lost that I knew about. It's still a work in progress for me and always will be. Even if we get up to the 10% conversion that I desire, we will still lose sales.

Should you call every week for three months. Sure if it's working for you and you can handle the leads. Would I call more if I could, sure would. My business model allows for my Agents to be average and not great. I'm on the quest to have 20 above average Agents, but that's a big chore. In the meantime, our revenue and profits have grown every year since we opened our doors in 2005 and this year we are on track for 350 sales. Could it be 500...probably. Will at be at some point...yup!

Gloria - Our lead management system distributes leads in many ways. We can be as specific or general in what they get. For instance, new Agents will only get leads under $200k. My luxury specialist get all leads over $650k. Some agents get 50% of the amount of leads as others. I have a new site launching soon which is a condo store, I will have those leads go to a few Agents that are condo experts.

[jessiesc]

Mitch,

You're my hero

[Mitch]

I always wanted to be someones hero! Have a great weekend, I'm off to hit some golf balls!

[waynelong]

Interesting numbers Mitch. I wonder if time from first registration to sale would be the same in different type markets. I consider the florida market to be somewhat different than a market like mine.

I am not sure one way or the other and don't think I have enough data yet to say for sure. Just curious.

We do have people who buy from us who have been looking online for a couple of years before they buy and all levels in between.

[Mitch]

That's a great question Wayne. I don't know as I don't have other Agents stats. I believe our stats are probably longer than most because we have to wait for our customers to come to Florida to look at and buy homes. 80% of our buyers come from out of state.

I'll do a stat on local leads we have and how long it took for them to buy. That will be interesting.

Thanks!

[waynelong]

Mitch - the truth is that the vast majority buying in Columbus and using our site are from out of town as well (like Iraq and Afghanistan ) or Fort Campbell or Fort Knox. I will try to compile some numbers to figure this out.

The fact remains that dealing with internet leads is a long term project. We do get those who sign up today and buy in a week or two but most are longer term leads.

[Mitch]

Wayne - Then it would be interesting to see. I just gave an assignment to one of my staff to see how many of the 100 leads we had were local and then their buying time frame. I probably won't have it for a week as they are backed up with other pending stuff...I can't believe I let them take vacations and stuff...it cuts into my stuff I need to know!

Are you going to Vancover?

[waynelong]

Originally Posted by Mitch

Are you going to Vancover?

Yes...I am making the west coast sweep with my wife Donna....Vancouver...San Fran.... and then back home. We are looking forward to it!