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Turning Internet Leads into Business
by Tim Johnson, Executive Vice President, Z57
You can generate leads, you have the latest technology, but are your agents in a position to be successful?
The good news is the skepticism about the Internet’s role in real estate seems to finally be put to bed. Great, now how do we take advantage of the onslaught of consumers seeking homes via the Web?
First things first, let’s attempt to understand the expectation of these would-be home buyers. Are they really interested in purchasing a home and, if so, what is their timeline to take action? How can you facilitate in this process and make sure that when the time comes they complete the transaction with you or one of your agents? Lastly, how can you better utilize your marketing spend to reach these folks and ensure your agents can properly manage this Internet-born relationship?
You are not alone if these questions are what keep you awake at night.
We have all seen the statistics and the story they tell is black and white: the overwhelming majority of consumers are initiating their home search via the Web and the number increases everyday. They are not like your traditional prospects who engage you when they are ready to hop in the Lexus and find a home. They are much earlier along in the home-buying process and they don’t necessarily want to talk to you yet, but you can watch them peruse your Web site listings. You know they will eventually buy, but how do you foster and maintain a relationship that will go on for many months, heck maybe even a year!
Super. More questions without answers about these phantom Internet consumers. For the sake of this article, we will assume that you and your agents have Web sites with homes for sale and built-in e-mail listing drips to provide your new prospects with the new listings as they hit the MLS. It goes without saying that your agents can access their control panels to monitor their prospects’ behavior on a daily basis. You also know that going more than 24 hours without responding to a lead is a fantastic way to lose it.
We will also assume that you have up-to-date localized information on schools, the community, market trends and other professional services utilized in the buying-and-selling process. I am sure you are all capable of buttoning up a personalized e-mail communication with a market analysis of the latest sales and available inventory surrounding the home they have clicked on half a dozen times.
The challenge does not lie in understanding this Internet consumer, generating the leads or obtaining the technology to manage the relationship—it’s readily available to those who seek it. Every office has top producers who leverage this new-found opportunity to generate significant incremental business outside their existing sphere.
The real challenge? How do you gain this knowledge, share it with the agents who really need it, and make sure they practice it moving forward? Since your core competency is most likely managing home buyers and sellers through the transaction process, I would strongly suggest partnering with an Internet marketing firm whose core competency is driving agent’s success through Internet software and coaching.
Two things are certain: the Internet is here to stay and the brokers and agents that learn to leverage it will prevail in the long run.
Tim Johnson is the executive vice president of Z57 Internet Solutions. For more information please visit www.z57.com.
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