Did you know only 5.6% of leads convert on the first contact? But after 8-12 touches, that number ratchets up to 68%.
That’s why you shouldn’t lose hope when you first start working leads—the odds of landing that lead’s business keep rising with each touch. Consistent contact is key to ultimately converting leads into solid business. The average agent makes 5.2 contacts before giving up—set yourself apart from other agents by persevering and continuing to follow up.
However, there are strategies you can employ to increase your chances of converting leads. First off, pick up the phone! An amazing 49% of prospects prefer to first be contacted over the phone—not emails, not texts, not social media. And to maximize your effectiveness, reach out within five minutes of gaining the lead, while the home search is still fresh on their mind. If they don’t answer, follow up with a text: “I see you are interested in seeing the home at 123 Main Street. When would you be available to meet?”
If you don’t succeed in getting the lead on the phone on the first try, follow this schedule for the first 28 days:
- Day 1: Call between 4-6 p.m. If they don’t answer, email something similar to the text you sent the first time around.
- Day 2: Call between 8-10 a.m. If they don’t answer, text something like: “You had contacted me about 123 Main Street. Are you still interested in seeing it?” Try calling again between 4-6. If they don’t answer, set the lead up on Buyside and Home Match.
- Days 3-28: Call every five days. If after all these calls, you still don’t get a response, text them: “I have tried to contact you several times. Are you still interested in looking for a home?”
After the first 28 days, don’t give up! Call every 30 days until they buy, sell or tell you to stop. Some of these leads may take six, 12 or even 18 months to close.
Once you finally get in touch with them, qualify the immediacy of the lead.
- If they’re ready to buy or sell in the next 30 days, they are hot. Contact every Friday.
- If they’re ready within the next 30-90 days, you need to nurture this lead. Contact the first and the 15th of every month.
- If they won’t be ready for more than 90 days, watch them, and reach out the first of the month.
The key to keeping up with this regimen is to schedule out your communication, and keep track of who you’ve contacted, the methods and the number of touches. Once you get yourself set up, it’ll be simple to add into your marketing plan—and it brings a huge return!