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Sign into your accountEarly Bird Gets the Lead!
September 02 2010
Perhaps you've heard the expression, "The early bird gets the worm." When it comes to home buyers and generating leads, it couldn't be more true.
MIT recently published a study on lead generation and lead response management that highlighted key implications for the real estate industry. Understanding lead generation and lead response management are essential to growing your real estate business. What good is lead generation without a way to manage and follow through with those leads?
This study carefully examined the differences of two practices: using intuition and experience to generate leads (common in real estate today) or using science to determine how to generate leads. Before we look into the implications of science over intuition, evaluate your current practice. What do you rely on to generate leads? How has it worked so far?
MIT researchers examined three years of data across six companies that generate and response to web leads, from over fifteen thousand leads and over one hundred thousand call attempts.
The main questions covered in this study was: When should companies call web-generated leads for optimal contact and qualification ratios? In other words, when is a lead hot, and what is the time frame between that and when it goes cold?
The behavioral study revealed when sales representatives had success around calling web-generated leads.