TWO: BEST PRACTICES – TACTICS & TOOLS
3. Follow Your Path of Least Resistance Are you taking the easy way or the hard way when it comes to generating leads? Let’s look back at the bottom portion of the Goals tab in the My Business Planner . Of your current lead generation methods, what has the best yield for you? We studied the business of top agents to share with you their conversion rates as a benchmark for your own rates. Our study showed the conversion rates below. Top agents use several leads generating activities to build a comprehensive book of business. There is no single method that yields the greatest results.
CONVERSION RATE BENCHMARK STUDY RESULTS
SOI
4.5%
(SOI Contacted to Closed Transaction)
FSBOs
25.5%
(FSBO Seller Contacted to Closed Transaction)
Expireds
2.3%
(Expired Seller Contacted to Closed Transaction)
Geographic Farm
0.6%
(Farm Resident Contacted to Closed Transaction)
Circle Prospecting
1.4%
(Contacts to Closed Transaction)
Open Houses
12.0%
(Open House Held to Closed Transaction)
Source: 2018 Anywhere Real Estate (formerly Realogy) Leads Survey, self reported data submitted from Anywhere Agents
Let’s Talk About It!
SHARE YOUR THOUGHTS In your market, and leveraging your strengths, what will be your path of least resistance to reaching the goals you have set for your business to bring in new leads each and every day? Why?
CONTACT A face-to-face or voice-to-voice conversation with someone whose contact information is in your database. The person you are speaking with knows that you are in real estate, and when you speak, you ask for their business or a referral. A contact should be someone whom you have included or can include in an appropriate REALationship Builder campaign.
© Anywhere Real Estate Services Group LLC CENTURY 21 ® | VIRTUAL BUSINESS PLANNING
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