Many brokerages losing out on Web leads

It’s no secret that a successful business nowadays typically needs a strong presence on the Internet. Yet, the real estate industry is still behind on the times, losing out on way too many leads generated online, or so CMS Consulting and One Cavo recently reported.

In fact, brokerages are losing out on 75% of all web-based generated leads, according to the secret shopping study performed in 56 different independent and franchised firms across 19 states. It’s all about lead response time, One Cavo founder and President Bradley Miller says. With consumers increasingly using Internet to conduct business, they expect responses quickly. Yet, most of the businesses studied lost leads by waiting too long.

“Our informal study mirrors the results of various NAR and industry studies that find approximately 48 percent of agents do not respond to Internet leads—46 percent of our inquiries went unanswered,” Miller elaborated. “And, what is perhaps worse, 23 percent of those that received call backs received them, on average, 8 hours after the forms were submitted. Today’s Internet consumer is expecting a response certainly within the hour but, more likely, within 15 or 20 minutes.”

Many brokerages are working to shorten this lead response time, recognizing that consumers now expect immediate responses. Chances are, whichever brokerage reaches out to a prospect first will be the one to get the business.

Even so, there are still many brokerages out there that simply do not have a system in place for managing web leads, something hard to believe in this day and age. Founder and Chief Visionary for PCMS Consulting Jose Perez thinks that business needs to be driven online through social media, listing syndication, and blogging. But all of that is wasted effort if the brokerage doesn’t have a good system in place to capture and follow-up on leads generated.

Yet, CondoDomain is a different story. As an exclusive online brokerage, it understands the technology and how to capture leads, meaning more buyer prospects for a property. Even with an online presence, there is face behind the Website, someone to talk to about buying and selling in Chicagoland. Kipp Blackburn is the VP of CondoDomain Chicago, and he’ll respond quickly to queries both online and off. He can be reached at 312-7310-3320 or throught the Website here.

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A Real Estate Blog by CondoDomain