<p><img alt="photo of woman " class="wp-image-52207 aligncenter" src="/images/blog/DonnaStott.jpg" style="width: 800px; height: 400px;" /></p> <p><span>Real Estate Agents today are so engrossed in obtaining the &quot;next new lead&quot; they pay enormous amounts of money for cold leads directed to them. It doesn&rsquo;t even matter if those same leads are being directed at 10 other agents, they still pay. Because just maybe this time&hellip;</span></p> <p>I have seen multiple studies that boil it down to on average, a <u>closed</u> real estate lead costs about $3-12K. This means that while those cost of any single lead could be closer to $30- $120, an agent might need to go through (spend time on) about 100 leads to get the one to close&hellip;. Paying $30-$120 for each one or $3,000-$12,000 for all of them... to get one to close. And truthfully, we should be less concerned about the $3-12K and <b>more concerned about the 99 people you spent time on that did not use you.</b> THAT is the real loss in buying leads. The time wasted.</p> <p><a data-saferedirecturl="https://www.google.com/url?q=http://Realtor.com&amp;source=gmail&amp;ust=1572714434988000&amp;usg=AFQjCNFPeWsNfKNH6MbCiVWybWlmMsh4pw" href="http://realtor.com/" rel="noopener noreferrer" target="_blank">Realtor.com</a> consistently shows that MOST agents still use the person they know or who was referred to them by someone they know. 60-85% of the time depending on the year and the study. It&rsquo;s clear that the public will use the internet to GET information&hellip; yet they consistently USE the Agent they KNOW or is referred to them by someone they know. &mdash; So why do we go after new leads all the time? Because we don&rsquo;t want to do lead follow up. That&rsquo;s why. And it&rsquo;s so easy to just do it&hellip;</p> <p><img alt="" class="wp-image-52170 alignright" src="/images/blog/Why%20Lead%20Follow%20Up%20Is%20So%20Improtant-03.jpg" style="float: right; width: 380px; height: 950px;" /></p> <h4>Here are the stats on Lead Follow Up:</h4> <ul> <li>48% of salespeople never follow-up ONC</li> <li>25% make a 2^nd contact and stop</li> <li>12% make 3 and stopOnly 10% make more than 3 attempts&hellip; yet&hellip;</li> <li>2% of sales are made on first contact 3% on 2^nd</li> <li>5% on 3^rd ONLY 10% on 4th contact even!</li> </ul> <p>YET&hellip; a whopping 80% of sales are made on 5th-12th contact! You absolutely MUST have a great system to gather leads into and work them every day for at least 12 contacts before giving up. Given that most people start the searching process 6-18 months before they actually buy or list, that needs to be done over time&hellip; and you need a lot in the system to meet your goals. This requires a great CRM system. As a Professional Coach I teach a Class on Mastering your Database in which I feature Wise Agent as the CRM we use for our Real Estate Sales Business. Our Coaching Clients average $390K a year GCI and about 50 sales a year with some over $1M and 100/year. I also have a free course on What to Say to your Database coming out before the end of 2019. If you&rsquo;d like to get on the email list for an invitation to that class - simply email me at <a href="mailto:Donna.Stott@YourCoachingMatters.com" rel="noopener noreferrer" target="_blank">Donna.Stott@YourCoachingMatters.com</a></p> <p>Wise Agent is the best cost-effective CRM available in my professional opinion. Buy it. Use it every day (which means you must open it every day). And reap the rewards of a NO COST lead system in which people know you, like you, and trust you. You can do this. And not go broke buying leads. Ready to end that money sucking cycle? Great.</p> <p><i>This was a featured article on our monthly newsletter. If you want to receive helpful blog articles and marketing tips like these straight to your inbox, sign up for our newsletter below!</i></p>

Real Estate Agents today are so engrossed in obtaining the "next new lead" they pay enormous amounts of money for cold leads directed to them. It doesn’t even matter if those same leads are being directed at 10 other agents, they still pay. Because just maybe this time…

I have seen multiple studies that boil it down to on average, a closed real estate lead costs about $3-12K. This means that while those cost of any single lead could be closer to $30- $120, an agent might need to go through (spend time on) about 100 leads to get the one to close…. Paying $30-$120 for each one or $3,000-$12,000 for all of them... to get one to close. And truthfully, we should be less concerned about the $3-12K and more concerned about the 99 people you spent time on that did not use you. THAT is the real loss in buying leads. The time wasted.

Realtor.com consistently shows that MOST agents still use the person they know or who was referred to them by someone they know. 60-85% of the time depending on the year and the study. It’s clear that the public will use the internet to GET information… yet they consistently USE the Agent they KNOW or is referred to them by someone they know. — So why do we go after new leads all the time? Because we don’t want to do lead follow up. That’s why. And it’s so easy to just do it…

Here are the stats on Lead Follow Up:

• 48% of salespeople never follow-up ONC
• 25% make a 2^nd contact and stop
• 12% make 3 and stopOnly 10% make more than 3 attempts… yet…
• 2% of sales are made on first contact 3% on 2^nd
• 5% on 3^rd ONLY 10% on 4th contact even!

YET… a whopping 80% of sales are made on 5th-12th contact! You absolutely MUST have a great system to gather leads into and work them every day for at least 12 contacts before giving up. Given that most people start the searching process 6-18 months before they actually buy or list, that needs to be done over time… and you need a lot in the system to meet your goals. This requires a great CRM system. As a Professional Coach I teach a Class on Mastering your Database in which I feature Wise Agent as the CRM we use for our Real Estate Sales Business. Our Coaching Clients average $390K a year GCI and about 50 sales a year with some over $1M and 100/year. I also have a free course on What to Say to your Database coming out before the end of 2019. If you’d like to get on the email list for an invitation to that class - simply email me at Donna.Stott@YourCoachingMatters.com

Wise Agent is the best cost-effective CRM available in my professional opinion. Buy it. Use it every day (which means you must open it every day). And reap the rewards of a NO COST lead system in which people know you, like you, and trust you. You can do this. And not go broke buying leads. Ready to end that money sucking cycle? Great.

This was a featured article on our monthly newsletter. If you want to receive helpful blog articles and marketing tips like these straight to your inbox, sign up for our newsletter below!