Over the last 5-10 years there’s been a conventional wisdom develop that “real estate is all about lead generation!” After all, if you don’t have leads you’ve got no business, right?
Well, the fact is you could have hundreds of “leads” and still have no business.
If you have 100 leads and you call them all…how often do you get voice-mail?
See according a study done by Pew Research Center and the American Association of Public Opinion Research, in 2012 the total number of people answering their phones had dropped by more than 76% over the last decade.
What’s worse is that same study concluded that less than 9% of all calling attempts ending in an actual conversation…more than 91% of all calls were not answered or ended in less than 30 seconds.
So what does all this mean?
Prospects have Caller ID, voice-mail, free email accounts, social media and every other imaginable technology to make us more… Social?
No… Whether by fate, accident, or grand design these tools are building massive barriers, like stone walls, between you and your prospects.
Now let’s take this challenging picture a step further. If you go to the time, effort, and expense to generate 100 leads and you call them all, based on the Pew Research stats, you’ll talk to less than 9 people.
Worse yet, when do you think you’ll connect with these folks?
While they’re sitting down to dinner with their families?
As they’re heading out the door to take the kids to the soccer game?
When they’re thinking…“Gee, I hope a real estate agent calls me right now?”
Now I’m being facetious to make a point.
The point is “lead generation” is a challenging uphill battle in today’s market. Prospects are fed up and have had all the interruptions they’re going to tolerate. And if they don’t answer their phones and talk with you…do you actually have anything?
Well actually…you do!
You’ve got a big fat expense of $1,000-$2,000 or more and generally little to nothing to show for it in the way of new business.
However, there is a better way. Focus all your efforts on attracting perfectly-timed conversations with interested prospects who actually want to talk with you.