Lead Management Cash Cow or Mad Cow - Century 21 Leadership Conference

Lead Management:Cash Cow or Mad Cow?

©2009 The Company CEO, Inc. - All Rights Reserved

Jonathan D. Nicholas, The Virtual CEO

[email protected] Free: (888) 800-8991

Cash Cow or Mad Cow?



Technology Disconnect


Technology DisconnectThe Internet Empowered Consumer Average Internet Buyer is:

29 Years Old Getting Younger Every Year


Technology DisconnectOn the Flip-Side… Average Agent:

51 Years Old Not Getting Younger Every Year Average Broker is 54


Leads Management A system for tracking the life-cycle of a

prospective customer, from source of contact through transaction completion (or abandonment)


Disconnect Continues Comments heard in the office….

“These internet leads are worthless!” “They won’t return my phone call!” “None of them are ready to buy!” “They told me to stop stalking them!” “I’m not taking any more internet leads!”


Lead Conversion


e-Leads Are all internet leads bad??

Not if you take the time to understand a little more about them.


Internet Consumers According to a NAR study on Internet Buyers

and Sellers: They tend to have higher Incomes They tend to be better educated They have a shorter search time They view fewer homes They are more likely to use a REALTOR


Internet Consumers According to a CAR study on Internet Buyers

and Sellers: 92% found their agent on a web site 63% found through a search engine 0% found agent through brochures, flyers,

yard signs or mailers. 100% started looking at homes first, for their

agent second.



and Sellers: Internet buyers took 2/3 less time Internet buyers interviewed only one agent;

others interviewed three Internet buyers were far more satisfied in

every research category of satisfaction than traditional buyers were



and Sellers: 97% of internet buyers said that they would

use the same agent AGAIN!

Wow! They really are lower maintenance!


Internet Consumers Percentage of those who used the first Real

Estate Professional they talked to: 80% of all Buyers 74% of all Sellers


Generational Shift Gen-X and Echo Boomers (Age 14-43)

86% used internet to find a real estate agent 45% used to find a real estate company 75% used it to find their actual home 66% used it to get financing 62% to get neighborhood information


Expectations? 15 to 20 Minute Response Time 15 Second Site Patience 4 Second Property Patience “Connected” Agent All the information All the images The good, the bad and the ugly


Brokerage Realities 50% of leads are not responded to 50% of leads are responded to

Took an average of 54 hours to receive a response from an agent or brokerage

80% are abandoned after 6 days


Brokerage Realities Alarming Reality

$2 Billion was spent to drive online leads We are only nurturing 10% of the pie We lost out on the other 90% due to our own bad

habits


Brokerage Realities

The Entire Internet Pie 189 Million Daily Unique Visitors 115 Million Average Daily Visits 455 Million Daily Page Views 10 Billion Daily Hits 28.1 Minutes per Visit


Brokerage Realities

The Internet Pie VS. REAL ESTATE 189M Vs. 44M Unique Daily Visitors 115M Vs. 5.4M Average Daily Visits 455M Vs. 2.8M Average Daily Page Views 10 Billion Vs. 171M Daily Hits 28.1 Minutes Vs. 9.1 Minutes


Brokerage Realities

HitwiseAugust2009


Website Standards


Brochures are OUT!


Website StandardsMinimum Standards: Quick Search and Advanced Search Interactive Mapping & Community Content Emphasis on Visual Content including Video,

Pix, Tour Consumer Dashboard Content Rich Lead Generation Forms Syndication Lead Management Module Follow an e-lead Management Process