Why Lead Engagement Should Be a Top Priority

For many years in real estate, the hottest topic (and No. 1 demand from real estate technology companies) has been lead generation. How can I generate more online leads? What sources should I use? And how can I lower my cost per lead?

Let's flip things on their head a bit and cover why lead engagement (or lead follow-up) should really be the star and your top priority.

Lead Gen… and Then What?

Lead generation is important, but with a great wealth of leads comes great responsibility. As more new leads register on your site, the time you are required to spend responding, engaging, and qualifying those leads goes up. And that time is incredibly important if you want to actually convert the leads that you've generated.

How important is quick and effective lead engagement/follow up?

• 90% of real estate agents will give up on a lead after the first four touches, despite the fact that 70% of the time that lead will go on to buy a home within the year, just with a different agent. (NAR)
• 80% of prospects are deemed "bad leads" by sales teams, and yet still go on to purchase within 24 months (NAR)
• Responding instantly to inquiries can increase lead conversion rates by up to 391% (Zillow and MIT)

We live in a culture of instant. The best and most successful businesses have adapted to those consumer demands and not only meet consumer expectations but exceed them by anticipating needs. When Sara Homebuyer is browsing properties on your site, that moment is your best chance of connecting with her, getting her attention, and moving her further down the funnel to having a conversation with you.

But, let's be honest, sometimes it's too much for a busy real estate agent to handle. Many default to hiring an Inside Sales Agent, which can work quite well. However, there are limitations: the time and expense of hiring and training, plus they're still only available 40 hours per week (leaving leads who register outside of those hours waiting for a touchpoint).

Another option is using a system that automatically responds on your behalf using a bot or AI technology. What's the downfall there? Real estate is a business of people. It's all about making connections, showing your value, and guiding your clients through the experience of buying or selling their home.

86% of consumers prefer communicating with humans over chatbots. [Forbes]

So, when it comes to the first point of contact with a lead, we recommend putting your best foot forward and making the impression your business deserves.

Technology and Lead Engagement

How do you ensure that:

• Your leads are contacted and qualified quickly (24/7)
• Your leads are getting the right message at the right time
• Your brand is accurately represented
• Your leads get white glove customer service
• Agents are not glued to their desk
  …?

Enter the lead concierge service. Lead concierge services, like Success Assurance from BoomTown, handle lead engagement and follow-up for you. They make sure the critical first point of contact happens when and how it should, while allowing your agents can focus on more "dollar productive activities."

To view the original article, visit the BoomTown blog.