48% of Buyer Inquiries Aren't Responded To - Read More!
My former partner Victor Lund did an outstanding study recently that showed what a poor job many agents are doing in responding to buyer leads. The study, done with the Weichert lead network, looked at lead responsiveness in over 384 brokers across 11 states. In the study, researchers posing as consumers contacted these brokers about listings on broker websites, Zillow, Realtor.com and Trulia. The results are stunning and show how much potential their is agents to improve. Consider:
- 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)