There's no magic to substantially increasing not only the number of Internet leads you capture and manage, but those you actually close. But it can be as simple as paying close attention to the pitfalls -- and opportunities -- assigned to each number below.
Why, exactly, are Internet leads so important to our business these days? It's simple; even as housing markets across the nation normalize, consumers' use of the Internet to shop for a home or mortgage is growing by leaps and bounds.
Wise brokerages continue to invest in online technology and websites designed to attract and capture new clients through comprehensive information, tools and agent contacts. Unfortunately, even as they pay thousands of dollars for web design and maintenance, many brokerages still are not fully tapping into the Internet's vast potential as a key customer generator and profit booster.
So, what follows are the top five pitfalls brokers must strive to avoid to enjoy the financial rewards of their investment in technology. Fall into any one of these traps and you can waste thousands of dollars and hundreds of design hours.
- The 50-50 rule or "Why you should never let web queries wither and die like neglected flowers on a vine."
In the 2006 National Association of Realtors® (NAR) Technology Survey, 50 percent of Realtors said they respond to Internet leads in less than two hours. In other words, if you and your agents aren't responding within two hours to customers' online questions, your competitors will. Broker sites today that route contacts directly to agents and provide a way to respond instantly are no longer luxuries, they're necessities.
- Impressions. Namely those you make on your existing agents as well as potential recruits. In addition to a great lead-generator, your website also should be working for you as a powerful recruitment tool.
Agents are thirsty for technology. They want to see something that works to generate leads and sell properties. Sadly, two-thirds of agents in the NAR Technology Survey said they're dissatisfied with their brokers' technology offering.
These days, the most sure-fire way is to promise and deliver technology, starting with a broker website that maximizes listings exposure and gives your agents an effective vehicle to generate leads and sales.
- "Always give the client more than he asks for"? That, in essence, is what your website should do.
"Browsing" and "surfing" the web are passive descriptions that don't accurately describe what Internet users are doing today. Rather than simply passing time, most website visitors are trying to accomplish something -- like buying a home -- and they will stick with a website that helps them do it.
If content is king, then tools are queen. Home-buyers have tons of questions, and you and your agents are experts in answering them. Use your site to anticipate and then answer their questions.
Include calculators, interactive maps, local information, anything a Web visitor/home shopper who comes to your site is likely to need. If they can't find it from you, they most certainly will find it elsewhere.
- Are you making visitors "opt in?" In other words, what are they "leaving behind"? Visitors who click on a number of your pages aren't "browsers," they're buyers. "Doorway forms" are simple and effective ways to collect their information for follow up that are relatively unobtrusive and help separate serious buyers from casual visitors.
A doorway form pops up and asks the visitor to fill in their information -- name, contact, timeframe for buying, target neighborhood, price range, whatever you think is valuable -- before they access a relevant page. Used tactically (and not indiscriminately), these forms can help triple the number of leads you and your agents can follow up with from your site.
- Don't "Torpedo". Don't rely on poor web lead management tools. You've invested substantial financial resources, training, time, hope and optimism in your online sites, tools and programs. Make sure you're benefiting from lead-management tools that, at the bare minimum, do the following:
Automatically route Internet leads to agents of your choosing and track whether follow up is happening.
Comprehensively measure your site's success in converting web leads.
Having collected contact information from a buyer, now you need to be sure it's being acted upon. And at the end of the day -- or month or year -- you need to know what (and who) is working.
That's it; there's no magic involved, no secret formula. When it comes to using online technology to generate and convert leads -- and most important, increasing your and your agents' profitability and personal satisfaction -- it's as easy as counting from 1 to 5.
Rusty Lindquist is the Vice President of Broker and Agent Products for a la mode, whose products are used by hundreds of thousands of appraisers, agents, inspectors, and lending professionals to complete the nation's real estate transactions. For more information, visit alamode.com or e-mail Rusty at rusty.lindquist@alamode.com.
Published: August 29, 2006
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