Internet Leads are not like "Regular" leads from ten years ago. If you don't know how to work or take the time to understand Internet Leads, your business is going to suffer greatly, as now the large majority of buyers and sellers start their research online.
I've been working with Internet Leads since 2004 and I've got a very detailed process in place that has helped me close hundreds of transactions. You can read much of what I do along with example emails I send out if you read the new book Make the Move: How to Move Your Real Estate Business Online by Claudia Wicks as all of Chapter 15 is about me and my business. **I get no royalties whatsoever, but buy it because it's good**
For those who haven't read it yet, I'll give a brief summary.
When you get an Internet Lead, you need to follow up immediately. Immediately is the most important part. From a survey Realtor.com conducted, the average response rate for follow up is 57 hours! That's WAAYYYYY too long to leave these leads out in cyberspace exploring other people's websites.
You need to have systems in place that contact each lead as soon as possible so if you're out on an appointment or if you're in bed because it's the middle of the night, these people get an immediate response. After that, the first week is crucial. I have drip campaigns set up and each lead gets about 3-4 drips along with listings or a CMA that first week. For the next week, follow up is still aggressive, but since I know the averages of Internet Leads, follow up then goes to a 10 or 15 day follow up for months, depending on whether they're a buyer or seller.
Sellers are typically further out in time than buyers and will require a longer drip campaign. A drip campaign is like your very own personal assistant following up for you, but cheaper!
Internet Leads don't like to feel pressured, so calling them five or six times a week is not the way to go. They're online for a reason, because they like to research at their own leisure, and they don't need someone bugging them. Most won't respond to anything you send them until they're ready. This gets frustrating for some, as they want an "instant gratification" buyer or seller, but Internet Leads are not instant anything. And many aren't buyers or sellers at all; they're just leads waiting for you to lead them wherever they need to go.
Since 2004, the majority of the Internet Leads that I have closed have been leads that have sat in my database for over a year. One day, they just contact me out of the blue like we're old friends. I pull up their profile in my contact management database to see what kind of communication they've received, and I talk with them like I've known them for years.
I've built the relationship with them even though we've never met, and more than likely, we've never spoken before. The biggest feedback I get is that from everything I have sent them over the months and years, they feel they know me and feel comfortable working with me.
The biggest responder email I have is one called "I'm feeling ignore". Every so often, if a lead has been in my database with no communication for several months, I send an email letting them know that I'm feeling ignored and that I can't help them unless they let me help them. Since I've now made things personal after being in the background for so long, many people feel obligated to respond to this email, in which I find out lots of reasons and excuses for not getting previous responses. You would be amazed at how many responses are, "I was going to contact you in the next few weeks to start looking..."
It's not rocket science, but there is a science to it. You have to be prepared for bogus names, but just go with the flow. If they entered their name as Mickey Mouse, address all their correspondence as Mickey
or Mr. Mouse. They'll get a kick out of it thinking they've pulled the wool over your eyes.
For other methods of converting internet leads, be sure to check out giftofshift.com/activerain where you can purchase a limited edition hardcover of Gary Keller's book SHIFT, which comes with a free version of the eBook Soci@l: Attract Friends, Followers and Connections to Your Business, written by Ben Kinney and Jay Papasan (in which Ben shares his 'ten days of pain' lead conversion method) as well as free audio versions of Millionaire Real Estate Agent and Millionaire Real Estate Investor all for $19.99. I get no royalties from this plug either...
**Are You Packed Yet?**
Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way.
** #1 Agent in my Office for all of 2008 **
Copyright© 2010 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Internet Lead Conversion is a Science and Not for the Lazy * was first published on donnahomesblog.com