Tips to Boost Your Real Estate Lead Conversion Rates

Key Takeaways

  • Create a multifaceted lead generation strategy for optimal results.
  • Focus on “speed to lead” to increase your likelihood of engaging leads when they are most receptive.
  • Use a follow-up system that combines email, text messages and phone calls.

Have you been trying unsuccessfully to increase online real estate lead conversion rates? You aren’t alone.

Many real estate agents are seeing a lower return on investment (ROI) when it comes to online lead conversion. According to Sam Monreal, Vice President of Business Development at Rokrbox, there is a way to convert more real estate leads from online sources.

During a recent podcast interview with Pat Hiban, Monreal discussed three steps agents should take if they want to improve real estate lead conversion rates.

Read about these steps below, and listen to the complete podcast interview for all the details and some additional tips.

Diminishing returns from online leads

Back in 2007, during the golden age of online lead generation, online leads were responsible for approximately a third of the homes sold. On average, real estate teams got a 38.5 percent ROI from online advertisements.

By 2015, internet lead conversion for real estate dropped to 0.05 percent with a negative 32 percent ROI. Most real estate teams lost money generating online leads, and real estate experts expect this trend to continue.

Use the right formula

First, you need to use a combination of leads generated via referrals, prospecting and online advertising if you want to have optimal conversion rates.

When agents try to generate leads from these three categories equally, they tend to have great results. So, instead of relying solely on online leads for business, make sure you’re still putting time into generating leads the old-fashioned way.

Read full article here.