lead conversions

The Pareto Principle (80/20 rule) and Real Estate lead conversions

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Ready to be part of the 10% closing 90% part of the sales?

In the previous blog I told you that only 12% of real estate agents attempt to call a lead three or more times.  That means that 88% of real estate agents gave up, they quit, they just stopped trying.

Now here’s the truth about sales and lead conversions.

2% of sales are made on the first contact

3% of sales are made on the second contact

5 % of sales are made on the third contact

10 % of sales are made on the fourth contact

80% of sales are made on the fifth through twelve contact

88% of Real Estate Agents share 10% of all Sales, and 12% share 90% of all sales

It is really simple math.  Let it sink in: 90% of all sales and lead conversions are made after attempting to contact a lead 3 or more times but only 10% of real estate agents attempt to contact a lead that many times.

You have to stop making excuses for not contacting a lead.  You have to get over your fears. What’s the single worst thing that will happen?  You knock on someone’s door and they slam it shut.  Oh no.  You call someone and they hang up.  Poor you. I know that if you never try to contact them they will never be your client and you will never get a sale.  I know that if you give up after attempts to contact a lead you are missing out on 90% of the opportunities you have.

You cannot follow up with a lead too much.

If you are calling or testing a lead too often they will let you know.  If you are e-mailing too much they will stop reading the e-mails.  The point is they reached out to you.  They wanted to communicate with you.  Show them that you want to communicate with them, to be there for them when they are ready.

In the next blog I will talk about how to keep track of it all and grow you business.

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