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.