Marketing

Podcast: Why you only have 5 minutes to convert more leads

Plus, a 3-step plan on how to convert them
  • Follow the five-minute rule to covert more leads.
  • Qualify leads before passing them on to real estate agents.
  • Maximize outside resources when necessary to close more leads.

Convert more leads and free yourself and your real estate team to close more sales using this three-step lead conversion process shared by Real Estate Rockstar Radio veteran Jim Keaty.

Keaty’s solution to convert online real estate leads is one guaranteed to help you with balancing out prospecting, handling active client deals and continuing to generate referrals while nurturing past client relationships.

In his interview, Keaty discussed how his team had no problem generating leads. Instead, his team needed a more efficient way to convert more real estate leads without finding themselves spending too much time prospecting and losing sight on giving their clients enough attention.

Because of this problem, he began to speak with other successful agents and research the issue further. What he found out will help you convert more leads and close more sales immediately.

The 5-minute rule to convert more real estate leads

While researching how to clear up the bottleneck in his lead-generation and conversion system, Keaty stumbled upon a study by MIT.

In that study, something caught his eye and changed the way he and his team approached the process of converting more real estate leads to clients.

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  • The odds of contacting a lead if called in five minutes versus 30 minutes drop 100 times.
  • The odds of qualifying a lead if called in five minutes versus 30 minutes drop 21 times.

There was a lot more important information in this MIT study on qualifying and converting leads. It was this first five minutes, the importance of the immediacy of response, however, that caught Keaty’s attention.

Keaty’s 3-step system to convert more real estate leads

Here’s how Keaty and his team cleared up the bottleneck that was preventing his team from converting a higher number of leads and closing more sales by breaking up the problem into three stages.

Step 1: Keaty outsourced his first response to lead inquiries to a U.S.-based call center. Those first responders call leads within the first minute and qualify those leads with a series of questions. How the lead answers the questions determines what happens next — either direct contact with a real estate agent or the lead gets passed on to a buyer inside selling agent (ISA).

Step 2: The second step involves an inside sales agent who then qualifies the lead further during what many might consider a customer service call workflow. After a number of questions, this agent might create an MLS search for the lead. Then, at the right time, the lead will be passed on to a real estate agent.

Step 3: Finally, when the lead is ready to see houses in person, that buyer is passed on to a real estate agent. Now, these agents are working with buyers who are ready to purchase a home instead of finding themselves bogged down with less-solid leads early in the homebuying process.

Keaty offers an in-depth look at this three-step process to convert more real estate leads and its success in the podcast interview with Pat. He also shares a crucial takeaway on how he was able to get buy-in from his entire team who had to sacrifice compensation to pay for this new system to capture, qualify and convert more real estate leads and close more sales.

Listen to the full podcast with Jim Keaty here.

Pat Hiban is the author of NYT best selling book “6 steps to 7 figures – A Real Estate Professional’s Guide to Building Wealth and Creating Your Destiny” and the Host of Pat Hiban Interviews Real Estate Rockstars an Agent to Agent Real Estate Radio Podcast with Hiban Digital. Follow him on Instagram or Twitter.

Email Pat Hiban.