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HouseHunt, Inc. “HouseHunt Lead Conversion”. Recent Statistics. Agents who have embraced the Internet are making more money than those who haven't. The Internet has changed the real estate industry in how buyers and sellers can find information.
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HouseHunt, Inc. “HouseHunt Lead Conversion”
Recent Statistics • Agents who have embraced the Internet are making more money than those who haven't. • The Internet has changed the real estate industry in how buyers and sellers can find information. • The Internet has not replaced the real estate agent.
84% of consumers begin their search for real estate on the Internet Source 2002, 2006 NAR Profile of Home Buyers and Sellers
Only 6% of Agents who HAVE an Internet Presence are making money from the Internet
Why are Realtors failing to make money on the Internet? • Don’t have systems to incubate the leads, creating a perception that the quality of leads are poor • Don’t understand the behavior of the Internet Consumer or meet consumer expectations
Understanding Internet Consumer BehaviorBefore Contacting a Realtor Source California Association of Realtors 2004 Internet vs. Traditional Home Buyer Study
Understanding Internet Consumer BehaviorAfter Contacting a Realtor Source California Association of Realtors 2004 Internet vs. Traditional Home Buyer Study
Understanding Internet Consumer BehaviorExpected Response Time from Agent Source California Association of Realtors 2004 Internet vs. Traditional Home Buyer Study
RisMedia -Actual Realtor Response Time • Study “secret shopped” 5 agents from 8 different companies. • 40 emails sent to agents with detailed criteria. Specific part of town, price range, and time frame for move…. Pretty Qualified Leads yes?
RisMedia- Actual Realtor Response Time 1st response – after 1 hour 2nd response – after 5 hours 3rd response – after 10 hours 4th response – after 24 hours ….36 emails were unanswered!
The Internet Waiting Room Imagine letting someone sit in your lobby without addressing their existence. After a certain period of time, they would get up and leave, because of poor service. According to an MIT study, the probability of converting an Internet lead decreases six times after the first hour, so whoever gets to that consumer first is going to win. By the way, they win 93% of the time, according to NAR.
NAR take on internet leads NAR also tells us that only 7% of consumers are ready to buy within 30 days. If you focus only on the “here and now” leads you will fail to capture a huge portion of your website’s traffic. “You must plant your garden now to harvest a full crop later”
The Value of an Internet Lead • Do this to train yourself...to train your mental and physical reactions so that you don't automatically toss it out because that is all you know to do with it...because that is all you have practiced. It is all you know. • Instead of viewing every internet lead skeptically...treat it like gold. • Follow upwith the client diligently, timely, and with respect. • Give them the information they require when they require it and work hard to make yourselfTHE resource that the lead thinks of when they need something. • Do this every time. Without fail. Every time.
Quick Response Is Key • 3 solutions to solve quick response problems when you may be out on of the office • 1. Use your cell phone! Iphones, Blackberrys let you receive emails right away. Respond! • 2. Assistants can make immediate phone or email responses. HouseHunt training courses are available to your staff as well. • 3. Auto-responder: compose an e-mail that has a high quality, consumer focused message. Important that you do not sound impersonal. Always be sure to check the spelling because the email may be good but misspelled.
Common Information Provided by Consumers • Phone/Email/Postal address • Phone/Email • Email Only (High Percentage) “Behind every email is a real person.”
Checklist for Agent Response Immediate Phone Call Personal Email Send listings through TIM or other system Send hand written note and periodic RE info Put prospect on periodic phone follow up schedule
Voice Contact Response • Introduce yourself and thank them for visiting your site through HouseHunt.com. • Find out what information they need or want and how often they would like to receive it. • Ask them if it’s ok to keep in touch via email for updates on your market, etc.
Sample Voice Contact Script Agent: Hello this is ___________ I am responding to your request for Real Estate Information, do I have the right person? Prospect: Yes, I was just curious about homes in that area. Agent: Great! Well I would like to thank you for visiting the website through HouseHunt.com and I would like to get any information you need to you as quickly as possible. Now I can send you anything ranging from community reports to school information, what information would you find the most helpful? Prospect: Well, mostly photos and descriptions of listings. Agent: Great! And how often would you like to receive the information? Daily? Every 3 days? Or once a week? Prospect: Daily would be great. Agent: Great! Well the easiest way for me to get the information to you is via email. What email address would you like to me to use?
Introductory Email Response (No voice) • Send introductory email thanking them for visiting site. Mention that you understand they may not be ready to speak to an agent yet, but that you will send them listings that match their criteria • Set them up to receive listings as well as a marketing campaign through TIM or other automated follow-up systems.
Sample Introductory Email Dear ______ This is ________. I would like to thank you for visiting my website recently through HouseHunt.com. I did try to reach you on the phone but unfortunately the number I received was incorrect. I understand that it might have been a type error or that you may not be ready to speak with an agent yet. In any case, my goal is to provide you with the information you need as quickly as possible. I am planning on sending you listings that include photos and descriptions of various properties. Please feel free to contact me anytime via phone or email if you would like to change your search criteria or if you prefer I stop sending them to you. Have a great day!
Sample Follow Up Email Dear __________ This is __________ again just wanting to see how you are liking the information I am sending you. Are you getting everything you want to see? Would it be helpful if I sent some information from other areas as well? Please feel free to let me know and I will be happy to provide more information. Just so you know, I will continue to send you listings based on the information you sent to me until you either change your search criteria, or ask me to stop sending them. Thanks again and have a great day!
What is a Bogus Lead? Definition of Bogus: “Counterfeit” or “Fake” - With HouseHunt, there is no such thing as a fake or counterfeit lead – only shy or savvy Internet visitors. - HouseHunt does NOT control how an internet consumer decides to fill out an online form. - We CAN encourage a genuine response from Internet visitors.
Non-Productive Leads • Test Lead • A test lead comes from either a HouseHunt employee, or the agent or agent’s business associates. • Duplicate Lead • Duplicate leads occur when an Internet visitor re-enters their information in order to access more information on your site. This is quite common if they want to re-define their search parameters or if they unintentionally exit the site and then re-enter. • Invalid Lead • This type of lead is usually a result of an Internet savvy visitor who wants to access your information and is aware that the online fields must be filled to continue. They will enter fake information for the sole purposes of access.
What Internet Visitors Need • Information Quickly • Pictures and Descriptions of Listings • Community Information • School Information • Other Related and Helpful Information • Perception that they can get all from you and your website! (Most Important)
What is Your Expectation? Average Buying Term 9 Months Internet Prospect Traditional Prospect
Multiple Buying Terms 9 months 9 months +1 +2 +3 Hypothetical: 4 closings in 4 days
Actual Buying Timeline 3 months 6 months 4 months 12 months
Summary • Our goal is to position you in front of today’s buyers as the exclusive resource for real estate information for your community. • To provide you with the tools and training you’ll need to develop a process that will enable you to convert your marketing responses into more closed transactions. • To help build your business, eliminate prospecting after time and increasing productivity and efficiency.
