Article from Real Trends written by Coach Donna Stott

Ask a coach: Do I need to pay for real estate leads?

Real Trends, April 22, 2022, 9:21 am By Donna Stott

There is no doubt that lead generation programs are big money makers — for those selling those leads to agents, or for brokerages getting agents to come to them with a promise of leads.

In my opinion, they are huge money- and time-suckers for agents, however. I believe Steve Murray (senior advisor to RealTrends) once wrote about how agents are paying on average from these sources of over $3,300 per closed lead. That’s not the worst of it.

The worst of it is this: Agents say that these leads covert 1% to 4% of the time. That means for every 100 leads an agent follows up with and nurtures, only one to four of them end a closed deal. So, they wasted their time on 96 to 99 people.

Who do buyers and sellers work with?

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Stott 58

The Stott 58

Client Profile to Invite and allow RELATIONSHIP

It’s critical to have information about your clients, potential clients, and potential referral sources. When you have the right knowledge, you develop TRUST, which is far more important than any product you sell. You don’t have to beat competition… you just need to go around them. You hold the KEYS when you know the People. Knowing them means knowing what makes them happy. Human nature leans toward creating happiness, however THEY define happiness. Maybe it’s your product, and it’s also always something else, too: Recognition, Respect, Reliability, Service, Friendship, Status, Convenience, and Help – things all of us care more about as human beings more than we care about any product. Once you attach your caring and personal knowledge of them to your product, people start seeing you differently.

Use the questionnaire below to develop a profile of each client, potential client, and potential referral source.