If you cannot keep up with the rapid pace of online marketing, your business will suffer…
According to a joint study by Google and the National Association of Realtors®, 90% of all real estate transactions start with an online search. When a customer contacts you, you must respond as quick as possible, regardless of the time. If a customer doesn’t hear from you right away, they’ll end up doing business with someone who wants their business. It’s the nature of real estate.
Sure you can delegate lead management to an administrative assistant who has perhaps a couple of hours extra they can squeeze out of their day. However, is that really how you want to deal with arguably the most important facet of your business–leads? Lead nurturing is a full time job. So much of the success of your business is contingent on the emphasis, care, quality, and maintenance of the individual or team you entrust this responsibility upon.
It’s recommended that every successful agency team employ an online sales counselor (OSC) to cultivate and manage the plethora of leads that may be coming your way through the digital landscape of online marketing. With an OSC, your team can focus on what they do best– turning those leads into closed sales.
Below are the main points that will help lead to your team’s success with an OSC in place.
You’ve spent hundreds, if not thousands, of dollars building a business and brand that instills quality and trust with the customers who are constantly exposed to you. With this, you staff your business with a team of full-time employees who help evoke the same message of quality and trust.
Your website should parallel this idea. If a customer manages to find themself on your site, they should be guided,not left to their own devices to aimlessly wander through the various pages. This is where your OSC holds the baton.
- Respond quickly with a personal touch. Studies indicate that a lead is 21X more likely to convert if it is responded to within the first 5 minutes vs the first 30 minutes.
- Provide the information they are seeking.
- Establish the relationship by asking the right questions.
- Offer suggestions and additional insight to maintain the conversation.
- Update your CRM with detailed notes for each prospect.
- Follow up personally after the initial contact to secure an appointment with a top agent.
A fast reply gives buyers a good idea about how you’ll respond after they decide to work with you. A joint Keller Williams / Baylor University study found the average response time to an inbound phone call is 1hr 45 mins. Since 49% of consumers expect an instant response this is totally unacceptable, which is why consumers will inquire with multiple real estate agents.Think of it this way: If you take a long time to reply to a customer’s initial inquiry, they’ll probably assume you’ll offer no expediency in getting back to them even after the sale closes– a time where they really might have lingering questions.
This can yield a drastically negative effect on the relationship you’re trying to build, not to mention your referral and repeat buyer rates after the sale. Like stated earlier, responding to leads within the first 5 minutes of receipt will yield drastic implications to the success of converting the lead. While this might seem unreasonable to you, think about how technology has changed how we conduct everyday commerce:
- The prevalence of overnight shipping
- The ability to split any cost between friends in real-time.
Buyers expect the same instant response when they’re shopping for a home, and delaying your reply widens the gap between the inquiry and the sale. An OSC knows their job is to respond quickly, monitor the buyer from the moment of their first inquiry, and work with them until they’re ready to meet your on-site salesperson.
With an all-star OSC, you’ll see incremental sales that you didn’t have before. Gone will be the days of scratching your head contemplating how you justify spending so much money on leads only to have them drift into aimless obscurity.Your OSC is the customer’s first interaction with your brand. Their job is selling and prepping the buyer so the on-site sales professionals can carry on the conversion.
Here’s how you might describe the job to an OSC candidate:
“As a part of my digital marketing strategy, I need a real salesperson — someone who can take inbound leads, respond fast, stick to a specific sales process, respond fast, follow up, make calls, respond fast, follow up again, sell the company and themselves via email and phone, respond fast, follow up, send videos, follow up — and do all of these things without actually meeting the customer in person. Did I mention they need to respond fast?”
A great OSC is enthusiastic, knowledgeable, empathetic, responsive, and diligent about achieving goals. They’re likable, well-spoken, genuine, and their skill sets include:
- Customer service experience
- Strong communication — especially over phone and email
- An appreciation for speed
- A dedication targeting prospects with finesse and cultivating leads with patience and tenacity
- Motivation to succeed
- A sales mindset
It’s important to remember that your OSC is not an on-site sales representative. This person never actually meets with the potential customers face-to-face. This person is more like a qualifying dispatcher that scrubs the leads that come in and hands them off to the optimal closer. The two are working harmoniously for the same goal — closing the sale.
Proper implementation of an OSC can have an immediate positive impact on the success and growth of your business. All of that considered, if you are in a spot where you don’t have the means or the resources to bring on a full time employee that is responsible for the aforementioned role, Verse is here to help. We have the means to implement an optimal lead scrubbing and qualifying strategy that connects to your lead strategy/CRM, that engages every lead within the first 5 minutes on behalf of your team, and once qualified sends you an immediate notification via SMS and email.
Like a lot of agents in your situation, I’m sure you are frustrated with the amount of leads that are falling by the wayside. You train your team, you have a viable strategy in place and come month’s end, you see how much money is being wasted on dead leads.
What if there was something so simple all along that you were overlooking?
Did you know that your lead response time can make or break your success with capitalizing on said lead? Studies indicate that when a real estate agent responds to a lead within the first 5 minutes they are 21X more likely to convert the lead than if they respond within the first 30 minutes. When it comes to your overall lead strategy, response time should be number one priority.
It’s like the great modern day philosopher, a Mr. Ricky Bobby once said,
“If you’re not first, you’re last.”
What is going to follow below are the top 3 reasons speed is the number one factor in the success of your team’s lead strategy. In the past, when meeting with a customer, you were charged with setting up an appointment in which to meet this customer. You generally slotted the appointment within the 9am to 5pm hours. Once you met, you went over the available options with this potential customer.
Things have changed since then…
We’ve now entered a era that is more like the wild, wild west when it comes to dealing with customers. Gone are the days where the agent was in control. With the advent of modern day technology, a buyer has the ability to search for their new home from the comfort of their couch. They can do this at any hour during the day, and they can seek assistance from an agent whenever they want. 90% of all real estate leads are now coming from the web.
With no scheduling bottleneck on the side of the customer being present, it is imperative that you respond to the lead as soon as it comes in–regardless of when.
Which brings up the next reason… As alluded to above, when a lead is responded to within the first 5 minutes there is a 21X better chance of converting the lead than in the first 30 minutes.
But that’s not the entire story. What if there are two or more agents that respond to the lead within that first 5 minutes? Who is going to be the lucky winner of that lead?
Recently, an online MIT study revealed some amazing results regarding lead generation and response time with 74% of all buyers and 76% of all sellers will work with the first agent / brokerage they speak with.
The plot yet thickens again and speed becomes ever so important–you’re not the only person that’s working on qualifying and pursuing that lead. When you respond within the first 5 minutes of a lead being generated, you are ahead of 90% of other agents/brokers according to a study conducted by roof.ai. In this study, they found that 9% of the top real estate agents responded to leads within the first 5 minutes, 50% responded within the first 5 minutes to 3 days, and 41% of the surveyed agents didn’t respond at all!
Of the top 9% of the study who was able to respond to the lead within the 5 minute mark (who expose themselves to a 21X higher conversion rate) used direct chat widgets on their site in order to make the connection in conjunction with their ISA’s. These agents were being active in their lead response.
You might often hear, “It’s lonely at the top.” In this case, consider the loneliness a Godsend. Now that you understand how imperative speed is in the success of your lead strategy, what first steps must you take in order to see your business flourish?
Luckily for you, Verse is here to help. Verse can equip you with your very own concierge team that responds to and qualifies generated leads so you don’t have to. Our tools work at all hours of the day so you don’t have to. We guarantee an instant response. If at a certain point, you are unable to work with the lead, you can still benefit through our referral program of 30,000 installed agents.
Call us at (888) 373-9942 or visit us here to schedule a demo.
As the team lead, you are able to charge the different individuals of your team with roles and responsibilities that match with their strengths as a person. It’s the classic divide and conquer model. And your role is the most pivotal–you need to make sure that you actually accomplish the appropriate matching of your team.
Match the wrong person with the wrong role and you foreshadow the potential demise of your business. This is especially true when it comes to your lead strategy.
When you consider all of this, the biggest question we hear often is–what’s the best lead strategy?
The answer is simple: the best lead strategy is the one you will actually use. But there really is more to it than that. The most effective lead strategy has characteristics you need to look for to know it will truly be the backbone of a successful real estate team. Here they are. Every dollar counts when you are just starting out. You shouldn’t invest in a lead strategy that costs twice what you’re bringing in every month. At least not at first.
The trouble with many lead strategy offerings is that they “scale” by only doing part of what you need it to do. But you need all the parts to work — even if it’s just a team of two.
You don’t only need the strategy to involve generating the leads, you need to be able to scrub, qualify, follow up with (automatically for that matter) and hand over to a trusted peer if you cannot work the lead any further.
For example, Verse is the optimal lead strategy product that works with all the functions you need to manage a small team. You pay for what you really need, nothing more. Have you ever seen a brokerage buy into a tech product and then struggle to get started? Heck, this is an issue we deal with inside and outside of the office.
Adoption of a lead strategy product is one of the biggest hurdles team leads face when starting out.We designed Verse to help you get in and get right to the dollar-productive activities that truly make you money. Our product is built on a human concierge service coupled with automated technology such as SMS messaging that works directly for you 24/7.
We don’t back a truck up to your office and bury you in bells and whistles — we focus on the activities that count to help you scrub, qualify and eventually convert leads. You’ll find intuitive usability and a workflow that makes sense.
Daniel Beer of KW Beer Home Team put it this way, “Verse has helped our conversion rates rise and we are setting more appointments than ever with our leads. My team is able to focus on the hot prospects that matter.” Your lead strategy machine should not operate in a technological vacuum. There are too many other powerful tools for your team to use. Our service connects with all of your lead sources and the CRM you employ with your team.
Our service is also integrated with an instant response measure so your team can stay in the loop with the leads that really matter. Whether this be via phone, SMS/text, or email, you and your team are covered 24/7.
Think of Verse as your lead strategy command center, qualifying leads on your behalf and notifying you when to strike. Let’s get down to the nitty-gritty…
Everything doesn’t mean a whole lot unless you can see actual results with your investment. Real estate is a numbers business. Whether it be the numbers on the deal, the number of people in your team, or the ROI on any investment you make -it all comes down to the numbers in and numbers out.
With an optimal lead strategy machine, you want results that you can see immediately once you toggle the “on” button. With Verse’s instant response and follow-up, participating teams are experiencing up to a 300% increase in their conversion rates. Don’t believe us? Take it from Greg Steiniger of Houses for Sale Network (a top 1% broker nationwide), “Verse is game changing! 300% increase in conversions since starting with them. Love these guys!”.
The data we’ve collected further illustrates the numbers:
- 1,500+ agents and teams participating
- 1,000,000+ leads processed
- 3,000,000+ SMS conversion
- 100,000+ agent+broker referrals
- $1 billion homes sold volume via referrals
As a team lead, you have your hands full. We know it–you know it. Building a real estate team can be an exciting and rewarding business model. And it’s why we built Verse the way we did — we know what you have on your daily slate. We know the responsibility needed to actually make your lead strategy work for you. Once you find the right fit for your team–you’ll be unstoppable.