If you are looking to build a sustained pipeline of listings over the next 2 years: What percentage of Real Estate Seller leads will actually turn into LISTINGS and SELL?
If you are looking for a get rich quick scheme, or instant listings each month with minimal effort, please do yourself a favor right now and just hit delete. Online lead generation is not for you. It’s a waste of your time and money.
Working online real estate seller leads is hard work. With 16+ years experience in helping Realtors generate leads has led me to this conclusion: Realtors need to work on their CLIENT’s time frame, not their own. Most leads will not be ready to list their home this weekend. Many of them may not be ready to list their home for a few months (or longer). You must have a real estate CRM system in place to manage your lead nurturing.
I have checked the lead information for random clients that have leads ranging from 3+ years old to brand new, against their local MLS data to see if each lead turned into a LISTING AND SOLD AFTER the client received the lead.
Real Estate Seller Lead Conversion ROI Examples
Here are 7 examples for random clients:
Client #1 – 15% of Real Estate Seller Leads turned into Listings and Sold – Out of 963 total Real Estate Seller leads generated from January 2019 through September 2020, 149 of those leads turned into Listings AND Sold AFTER this client received those leads. 149 listings out of 963 leads. 15% of Client #1’s Real Estate Seller leads turned into listings and sold.
Client #2 – 24% of Real Estate Seller Leads turned into Listings and Sold – Out of 1004 total Real Estate Seller leads generated from April 2018 through September 2020, 240 of those leads turned into Listings AND Sold AFTER this client received those leads. 240 listings out of 1004 leads. 24% of Client #2’s Real Estate Seller leads turned into listings and sold.
Client #3 – 4% of Real Estate Seller Leads turned into Listings and Sold – Out of 217 total Real Estate Seller leads generated from May 2019 through August 2019, 9 of those leads turned into Listings AND Sold AFTER this client received those leads. 9 listings out of 217 leads. 4% of Client #3’s Real Estate Seller leads turned into listings and sold.
Client #4 – 17% of Real Estate Seller Leads turned into Listings and Sold – Out of 4,474 total Real Estate Seller leads generated from May 2017 through September 2020, 741 of those leads turned into Listings AND Sold AFTER this client received those leads. 741 listings out of 4,474 leads. 17% of Client #4’s Real Estate Seller leads turned into listings and sold.
Client #5 – 10% of Real Estate Seller Leads turned into Listings and Sold – Out of 828 total Real Estate Seller leads generated from June 2019 through December 2020, 82 of those leads turned into Listings AND Sold AFTER this client received those leads. 82 listings out of 828 leads. 10% of Client #5’s Real Estate Seller leads turned into listings and sold.
Client #6 – 25% of Real Estate Seller Leads turned into Listings and Sold – Out of 9,326 total Real Estate Seller leads generated from February 2016 through December 2019, 2,316 of those leads turned into Listings AND Sold AFTER this client received those leads. 2,316 listings out of 9,326 leads. 25% of Client #6’s Real Estate Seller leads turned into listings and sold.
Client #7 – 22% of Real Estate Seller Leads turned into Listings and Sold – Out of 788 total Real Estate Seller leads generated from February 2016 through December 2019, 171 of those leads turned into Listings AND Sold AFTER this client received those leads. 171 listings out of 788 leads. 22% of Client #7’s Real Estate Seller leads turned into listings and sold.
OVERALL FOR EXAMPLE CLIENTS
7 – 21% of Real Estate Seller Leads turned into Listings and Sold – 3708 listings out of 17,600 leads.
The more Real Estate Seller Leads age, the more they turn into listings. Our lead data only goes back to late 2013, however, I would expect these percentages to keep rising as time goes by.
Client #3 is a great example. They did not get one listing from those initial 217 leads. 9 listings SO FAR have been lost. I’m going to conservatively say that within 2 years 20-25% of those leads should have turned into listings. This is useful information for this client because now he can be confident that there are an additional 34-46 listings SOLELY from the original 217 leads that were generated.
Finally – Do you have a real estate CRM to manage your leads?
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