When generating online real estate leads, it important to nurture your leads to improve your return on investment (ROI). Out of all of the online leads you've received, do you know how many are turning into closings? Are you nurturing the other leads?
I recently listened to a podcast by Todd Tramonte. He's generating 2033% ROI with his online leads. 2033%!!! I have to admit that's an incredibly high ROI but this guy doesn't make excuses or sit on his laurels, he takes action. He has worked hard to narrow down what works best for him and his team. You've got to put in the effort to improve your ROI, plain and simple.
Let's look at leads generated through a Real Estate Pipeline (REPL) account and ROI. You received 5 leads and 1 of them turned into a closing. After paying broker fees, taxes and other miscellaneous fees, you net $8,000 commission on the sale. With REPL, you would have invested approximately $500 into generating those leads. This works out to a profit of $7,500 or 1600% ROI. Imagine if you closed another lead and made a $10,000 commission. Now your profit is $17,500 or 3600% ROI! That's an amazing return on your investment.
If you nurture your "cold" leads, your ROI will continue to improve. Sure it might take time, but if 1 of these leads turned into a sale within 2 years, would you be disappointed? I would hope not. Remember, if you drop a lead because they aren't ready to buy, are unrealistic about home prices in their area, or if they are in the very beginning stages of house hunting, you are doing yourself and the lead a disservice. Every lead deserves to be nurtured and educated so they can eventually buy a home.
Less work is involved in nurturing a lead than trying to generate new leads. Create a nurturing campaign where automatic emails are sent to your leads and, in turn, you receive reports illustrating whether or not they're opening your emails and clicking on links you've provided. In addition, create reminders to call leads intermittently, especially if you're stats show a high level of interaction (ex. opening emails; reading your blog articles; viewing various properties on your website).
When it comes to increasing your ROI, don't give up as you try to get a lead on the phone. Try calling them 2-3x the first day, then 1xday for 6-8 days in a row. You might even try calling them 3x in a row just to get their attention (and a possible callback). Try sending an email and a text. Real estate is about building relationships so no matter what, get your leads into a nurturing campaign and don't give up.
REPL enjoys generating real estate leads for you so you can nurture them and improve your ROI. Follow up with your leads today and you will enjoy great success tomorrow (might have come from a fortune cookie but don't quote me on that...).