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Lead Follow Up Once you have captured a web lead for real estate, it is imperative that you follow up on that lead if you want to close a transaction - Discuss lead follow up here.

 
 
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Old 10-28-2009, 06:39 PM
Mitch Mitch is offline
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Default We are learning more through our LCA program

I'm sure I mentioned that a few months ago I changed our format of using our lead coordinator to make our follow up calls versus the first calls. It showed amazing changes immediately. Of course developing which people to call for each agent was probably a factor also.

The program worked so well we hired another LCA. She has been on the job for about two weeks and is contacting usually 3 different buyers per day per Agent, 6 days per week. We matched that with our seasoned LCA and the numbers were spot on. So what we have found with the calling is that our LCA's are able to get hold of 30% of the people they call daily. So what does that mean? It means that our future growth in sales will be based on the amount of calls we make from our LCA. Increase the calls will most likely increase the sales.

Since we started making the follow up calls through the LCA we have averaged around 38 contracts per month, up from 30 contracts per month. It's only been a few months, but it's been interesting to see. Last month we wrote a record high 44 contracts. Interesting I think.

One other note so you don't make the same mistake I made. If an Agent isn't working out now, don't give them the LCA and expect anything better. I had tried that in the past and changed it the beginning of this year. I was giving my LCA the worst five Agents thinking that with her follow up, they would increase their sales. Didn't happen. However, by giving my most successful Agents the LCA, their sales are increasing. Those other Agents no longer even receive leads anymore.

Ok, and one more note. I was talking with my top Agent about the LCA program. She has said that even though it's hard to tell sometimes why the customer converted, she believes that her calls may indirectly bring more buyers to the table. So even if the customer doesn't tell the LCA that they are coming to buy, they might contact the Agent directly. We find that happening often, but I'm not able to measure it. I probably could, but I don't have any desire to micromanage.

It seems to me, and I'm getting closer and closer to pulling the trigger, the more you keep the Agents out of the conversion process, the higher the conversion rate. Dedicated people to develop the leads as the Agents Assistant, and all the Agents job is, is to show property. Even though its still too early too tell, I'm extremely excited about the future of this project. I'm probably hiring my 3rd LCA in the next week or so. I have to see how much money I have left after opening our new office on the Beach this month. It's all fun!
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