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RE HEADLINES:
  • "Manhattan real estate is the most expensive in the US per square foot with some properties topping $10,000: Study" - CNBC.com"Move over San Francisco — the Big Apple tops Silicon Valley as most expensive place to live in the United States, a new study shows. Per square foot, real estate in Manhattan is the most expensive in the United States, with the average property in the borough eclipsing all other locals. Based on that metric, some city properties even top $10,000, according to a report published Thursday by real estate and data analytics firm NeighborhoodX..."
  • "Jacksonville industrial development would span 3 million square feet" - TheRealDeal.com"A Kansas City, Missouri-based company plans to buy 156 acres in Jacksonville to build three million square feet of industrial space. VanTrust Real Estate LLC expects to break ground next month and finish construction of the first building in September 2019. The company expects to build three million square feet in three to six buildings at a Jacksonville industrial park..."
  • "$1bn for empty space: the saga of the world's most valuable real estate" - TheGuardian.com"A billion dollars is a steep price to pay for a whole lot of nothing – even if the nothing in question happens to be a prime piece of open land with commanding views over the mansion-studded hills of Bel-Air and Los Angeles. Still, a billion dollars is what the owners of the 157 acres perched between Benedict and Franklin canyons say they want, and they are not in the mood for discounts. At least in theory, the listing – known variously as the Vineyard or the Mountain – is an invitation to the ultimate gazillionaire to build his or her palace of dreams above a city famously built on them..."
  • "Las Vegas median home prices ‘slowing down’ this summer" - ReviewJournal.com"After a stretch of roaring price hikes, Las Vegas’ housing market seems to be tapping the brakes. Price growth is cooling down, sales have slowed, and the industry’s biggest trade group in town is dialing back expectations that prices will reach their pre-recession peak this year. By all indications, Las Vegas is still a seller’s market and not undergoing a wrenching change, and prices continue to rise faster than the national average. But collectively, the shifts could give buyers some relief. Southern Nevada home prices have been rising at one of the fastest clips in the country this year amid low availability and strong demand. Things have been so heated that Fitch Ratings in June deemed Las Vegas the most overvalued market in the nation..."
What do your online lead conversion rates look like? (peer results from Inman and aided by offrs.com)

What do your online lead conversion rates look like? (peer results from Inman and aided by offrs.com)

Here are some interesting numbers from a recent Inman Special Report outlining recent online lead conversion results.

 

This last December, Inman produced a special report* which detailed the state of paid and unpaid online leads within the real estate industry. As we all push into 2018, here are some of the most interesting key points and takeaways regarding online leads and competitive conversion rates...

  • 30% claimed an online lead conversion rate of 1% to 3%
  • 18% cited an online lead conversion rate of 3.1% to 6%
  • 14% reported an online lead conversion rate of 6.1% to 10%
  • 10% replied with an online lead conversion rate of over 10%.
  • 37% of respondents said that unpaid online leads were more valuable than paid
  • 21% said the opposite (that paid online leads were more valuable than unpaid)
  • 40% were not sure (which was more valuable… paid leads or unpaid leads)
  • 50% said that more than half of their online leads are paid

So what do these poll reviews show us? Well, in part, they show a pattern we’re all familiar with… that lead follow-up strategy (no matter the source) continues to play an important role in determining ROI. In fact, the report finds that for those working the system with success, they are employing a “multi-pronged” follow-up strategy. One participant gave the following insight...

“I have personally generated over 4,000 online real estate leads and closed hundreds of thousands of dollars in gross commission income. It works only if you have a strong filtering, nurturing and follow up system”

Another participant spoke of slow-conversion systems, ready in advance, to process leads over time and the backend tools to help drive the process…

“For those agents who know what they are doing, they have a system for those ready to buy from 90 days to 12 months to still be top of mind. Those beyond 90 days, you ‘incubate with solid CRM.’”

Finally, internal lead response times show an impact on lead conversion results. Specifically, a scamper away from 24 hour and toward a 90 second response time (in at least one participant’s case). In all, while the results of this survey vary, online leads continue to press on as a hot topic, playing a part in at least 80% of the agents’ sales. Is offrs a good source for seller leads? Simple answer… yes. With offrs.com... you’ll definitely see significant results. Review it for yourself today.

 

*Special Report includes Survey conducted by Inman (in association with offrs.com) between 11/10/17 and 11/1/17. Of the 409 survey respondents, 255 (62.35 percent) identified themselves as agents, 100 (24.45 percent) identified themselves as brokers, 11 (2.69 percent) identified themselves as coaches, and 43 (11 percent) identified themselves as “Other.” offrs collects and provides topical insights, statistics, reviews, humor and best practices gathered from real estate professionals and consumer homeowner industry peers. If you're a broker or agent interested in learning more about seller lead generation or automated marketing services and solutions, visit www.offrs.com or continue to browse our growing collection of industry articles at www.offrs.net.
 
 

What are your thoughts?

Statistics/Trends

Head's Up! Housing Inventory at All-time Low... Time to Put Those Tools in Place!

Head's Up! Housing Inventory at All-time Low... Time to Put Those Tools in Place!

Head's up, folks! According to a recent swarm of articles and reporting on the matter, it looks like we may be heading into a continued housing inventory shortage. It's time to put those lead gen and predictive analytics tools in place and buckle up for the bumpy road ahead...

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