Protect your investment when it comes to leads

This one is a no-brainer. You spend thousands on your web site, collecting leads and even scrubbing them for your agents. Make sure you get your just rewards at the end of the day!

Number 7 – Ensure your relocation and web leads provide the return you expect

The real estate world is a connected place where leads come from multiple sources. In many cases, these leads require your organization to spend money to enroll in one or more relocation networks or implement sophisticated web sites to attract potential buyers and sellers.

Web based ‘methods’ are a relatively new phenomenon in the real estate world and many real estate organizations have not yet created the infrastructure to ensure their investments are providing the return they expect.

Leads are like irons in a fire. Some provide immediate results making them easy to track. A majority of the leads require a long-term relationship that can take months to mature into a sales transaction. If your firm does not have a integrated technology solution, the longer it takes to convert a lead into a sale, the more likely it is that your real estate organization will not be paid for the ‘lead’ your firm generated in the first place.

A non-integrated technology solution often see real estate firms spending extra resources manually matching leads to transactions (which is costing the firm even more money) and through human error, missing deals where a ‘lead’ matured and the company did not get paid for it.

Assumptions (multiply by your actual numbers):

1 branch office
25 agents
$200,000.00 average sale price
3% gross commission rate per side
25% off-the-top referral fee ($1,500.00)
1 referral fee not paid to company per month
Result - $18,000.00 annual lost
Using NAR $100.00 average profit per side the $18,000.00 would be like adding 180 more sides to your transaction total for this branch office

With leading edge technology leads are recorded, tracked, monitored and when the lead turns into a sale an auto-link feature automates the process of linking the lead to the sale and ensuring that the company is paid on closing regardless of when the initial lead was distributed to your sales associate.

Even if 1% of your leads are not providing the revenues your firm deserves the result is considerable lower profits. Implementing newer technology can provide the assurance that all revenue opportunities from leads are being received.