Nik De, Real Estate Technology (Koodle)

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Rainmaker
5,364,641
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nik,

I recently talked to someone who bragged about the 4000 leads he gets a month.  I asked how many actually turn into a check, and how long does it take to do that...the answer was 3 and over 6 months....that is a lot of work scrubbing leads for 3 clients.  Think of what could be done in person.  A

Jun 18, 2016 12:19 AM
Rainmaker
1,135,987
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

We have agents get 100s leads a week on line. She had to hire someone FT to screen and interview. She does 7 figures commission a year doing everything realtors are supposed to do. You got to be quick as there is no loyality in RE even including your past clients.  

Jun 18, 2016 02:03 AM
Rainer
212,250
Kristen Correa, Broker
Kristen Correa Real Estate & Reedy Creek Realty Services - Keller, TX
I love coffee & real estate. I am out of coffee!

This answer will vary based on your marketing philosophy.

A lot of us do business by referral only. Then our overall sales numbers may (or may not!) be lower, but our conversion far higher. These callers, emailers, Facebook PMs, come in with the mentality they are going to do business with you before they ever call. 

Those who farm and market to thousands will have a completely different answer whether they are good or bad at converting, it will be a totally diff answer than my 90% or higher numbers based on fam, friends and warm referrals.

It comes down to your business plan, in general, then the "headaches" or "rushes" you get are completely different playing fields.

KEY: KNOW WHAT YOU PERSONALLY DIG! AND DIG FOR IT!

Jun 18, 2016 12:29 AM
Rainmaker
1,623,972
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

we do not specifically track that number, but I can tell you is is very low; perhaps 1%?

Jun 18, 2016 12:19 AM
Rainmaker
1,231,549
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Fortunately my company scrubs online leads before forwarding to agents.

Jun 18, 2016 12:16 AM
Rainmaker
868,991
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

85 to 90 percent are serious.

However only about 20% of those with whom I have had direct contact (contact me) turn into $$$ within 180 days. (my focus is the 90 day market) 

The fallout ranges from Inspired objectives, to undisclosed history to job relocation and the plain old. 'changed their mind."

Jun 18, 2016 12:29 AM
Rainmaker
791,216
Susan Laxson CRS
Palm Properties - La Quinta, CA
Local Knowledge & Global Network

I would say that over the years around 1% turn into solid buyers and/or sellers. Calls first, if their phone numbers are valid and then follow up with email and/or packets of information.

Jun 18, 2016 12:27 AM
Ambassador
947,517
Frank Rubi
Frank Rubi Real Estate, LLC - Metairie, LA
FrankRubiRealEstate.com

online conversions are in the under 10%. My best is face to face and referrals where type number is above 80%. 

Jun 18, 2016 11:08 PM
Rainmaker
443,820
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

I do almost all of my business by referral, so I convert almost 100% of the leads I get.   Working only with repeat clients and referrals is the most efficient, and enjoyable, way of doing business.

Jun 18, 2016 10:50 PM
Rainmaker
906,623
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Varies - phone calls about 50%, website leads about 1.5%

Jun 18, 2016 09:46 PM
Ambassador
3,722,232
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

This is not something that I track in this manner.  I know where my business comes from, and I track that, but not the percentage of contacts vs. sales.

Jun 18, 2016 03:01 PM
Rainmaker
1,962,409
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

5 to 10%

Jun 18, 2016 01:31 PM
Rainmaker
5,570,642
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

from what I'm hearing from my peeps, the majority are real buyers....and they work them until they BUY OR DIE.... that's a rule....

Jun 18, 2016 03:18 AM
Ambassador
3,000,915
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Very few. Then again, I don't spend much time with them.  Most are already working with an agent ... an agent that is too lazy to do their job. I recently had someone ask me for comps. Of course I did not ask how high when asked to jump ... I responded they need to work with their agent.  Response was ... they have an agent.  Yep - I already knew that based on how the request was structured,

Jun 18, 2016 03:07 AM
Rainmaker
4,135,304
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I like Susan Emo find I convert most all because they are serious when they contact me or have been referred to me.

Jun 18, 2016 02:41 AM
Rainmaker
3,955,698
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I think it is necessary to define a true lead versus a contact or a real client. I may receive an inquiry(call, email or text) but that person has no intention of working with me - they are simply gathering information.   It's a numbers game.  I don't keep track of number of people who contact me just those where there is a real connection.  

Jun 18, 2016 01:25 AM
Ambassador
1,351,055
Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

It depends on how you define "leads"?  In my business, by the time they contact me they're serious buyers and I close them all.  But then again, most of my contacts are referrals or repeat customers.  I do not open myself to naked internet "leads" as I find that to be a huge timewaster and costly too ie see Ron and Alexandra Seigel s response.

Jun 18, 2016 01:03 AM
Ambassador
4,492,228
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I haven't tracked it but the % is pretty low

Jun 18, 2016 12:22 AM
Rainer
9,766
Theresa M Fanelli
Larchmont, NY
Real Estate Agent serving Larchmont, New Rochelle

What are the positives and negatives of being solely a Referring Agent?

Jun 19, 2016 07:01 AM
Rainmaker
3,834,675
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

probably 50%

Jun 18, 2016 11:33 PM
Ambassador
3,020,797
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

5 to 7 % depending upon the season of our leads convert to closings.

Jun 18, 2016 01:47 PM
Ambassador
1,771,405
Noah Seidenberg
Coldwell Banker - Evanston, IL
Chicagoland and Suburbs (800) 858-7917

I don't know but it is single digits.

Jun 18, 2016 12:31 PM
Ambassador
2,545,439
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

True leads from sphere of influence?  About 75%.

Leads from internet presence ("I saw your blog") about 20%.

Leads from lead sellers?  1/100 of a percent..

Jun 18, 2016 12:14 PM
Ambassador
5,211,900
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Very few people contact me unless they are ready to get to work.

Jun 18, 2016 11:56 AM
Rainmaker
3,296,977
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

In spring it could go to 10% where winter could be 90%

Jun 18, 2016 11:07 AM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

About 25% turn into serious buyers. That is a good percentage in my book.

Jun 18, 2016 10:32 AM
Rainmaker
4,799,306
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

In their own minds they are all serious buyers.

Jun 18, 2016 07:56 AM
Rainmaker
1,361,528
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I don't track this so I can't give you an exact percentage, but in general it is precious few leads that turn into clients (of any kind).

Contact comes from Zillow/Realtor.com, email, phone (from listings).  I've picked up a couple buyers from sign calls on my listings and sold two of them my listings.  A third came close but ended up deciding not to move.

Jun 18, 2016 07:14 AM
Rainmaker
1,444,627
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Nik De Most leads aren't leads at all, but people just looking for information. Qualified leads are what will get you business.

Jun 18, 2016 04:12 AM
Rainmaker
1,697,139
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

That's a rough question but I am going to say 50% go by the wayside for one reason or another. That includes the disappearances.

scrubbing = prequalifying.  You have to see if the person is workable or not. 

Jun 18, 2016 03:52 AM