Connect with us

Housing News

Your Best Leads are Your Oldest Leads

Published

on

skelton2

Your best leads are your oldest leads

Yes, you heard me right.  “Your old leads are your best leads.”

Why?

Look at it this way, we know that months before someone is ready to buy or thinking about buying or moving to a new location they start to look online.

It is different in every area. But, on the average let’s say 6 months.

A visitor comes to your web-site looks at homes, you contact them in some way, email, a phone call, drip campaign whatever you do.

They may:

  • Ignore you
  • Tell you they are just looking
  • Tell you they have another Realtor
  • Might be moving in the future

New Leads

As new leads come in, you respond to them and the cycle starts over again. As I have posted on Agentgenius before, the issue is NOT the amount of leads it is the follow-up.

When an older lead, and in my area, some of almost 2 years comes back and signs in again, starts looking more aggressively you know they are getting close to buying.

Tracking

Of course all this assumes you have a way on your site to know who is logging back in. If not and if you have not kept in touch by some other method you have lost them to whoever connects with them when they are READY to buy.

I could give you hundreds of examples of how this has worked for my team and I but you’ll have to trust me…the oldest leads are your best leads.

They are ready to buy or sell.

Written by Missy Caulk, Associate Broker at Keller Williams Ann Arbor. Missy is the author of Ann Arbor Real Estate Talk and Blog Ann Arbor, and is also the Director for the Ann Arbor Area Board of Realtors and Member of MLS and Grievance Committee's.

Continue Reading
Advertisement
23 Comments

23 Comments

  1. Brian Block

    July 17, 2009 at 10:23 am

    Missy,

    How very true! As one trainer I once listened to said, just keep e-mailing them until they “buy or die!”

    I’ve had “leads” from years ago that I thought disappeared, reappear to purchase a home. The great thing is that even though you haven’t heard from them forever, they’ve been hearing from you in the form of e-mails for a very long time.

  2. Shane

    July 17, 2009 at 10:51 am

    There are two very important necessities for effective and successful lead conversion:

    1. Lead Management – this includes the ability to see how often the lead is logging into your site. Being able to gather as much information on a lead and their activity is crucial. It amazes me you can build a virtual profile for a lead based on the information you gather from them.

    2. Lead Followup – If you are not contacting the lead regularly, you can be sure someone else is. It may even be Brian Block.

  3. Missy Caulk

    July 17, 2009 at 11:39 am

    Shane, my web master just developed what is called live view.

    I can now log on to my back end and see who is online and what houses they are looking at on a map. It is rockin’ hot.

    Nothing like knowing they are online and picking up the telephone to call.

  4. Missy Caulk

    July 17, 2009 at 11:40 am

    Brian, yes it happens all the time. It is just too many agents drop the ball and never follow up.

  5. Matthew Hardy

    July 17, 2009 at 12:47 pm

    When you’ve had a lead in your database for years AND can recite to them every interaction and communication you’ve ever had with them, you can be assured that they’ll be impressed. It’s not hard to do and is fantastically useful.

  6. Shane

    July 17, 2009 at 1:03 pm

    @Missy – The upgrade sounds nice. It is very helpful to have that level of detail!! It also helps when you pick the phone to call them, you can provide detailed information on homes they are looking for.

  7. MIssy Caulk

    July 17, 2009 at 10:08 pm

    Matthew, I can’t keep up, by my systems do. When they call I have all their logons and homes they have looked at.

    Shane, voice connection has a higher ROI.

  8. Shane

    July 17, 2009 at 10:11 pm

    Missy – I would completely agree with you. Getting a lead on the phone is always preferred. However, I get a lot more valid email addresses than I do valid phone numbers.

  9. Chris

    July 18, 2009 at 6:45 pm

    I’ve always believed: Farm the garden you have, it’s easier to cultivate.

    Mind you, it doesn’t keep me from looking for new sprouts …

  10. Paula Henry

    July 19, 2009 at 12:25 am

    Missy – Older leads also call and talk with you like they have known you forever. By the time they are ready to buy – other agents have quit following up.

  11. Gwen Banta

    July 20, 2009 at 2:54 pm

    Great post, Missy – I’m dragging out all my Open House books so I can contact the leads I thought were dead. I plan to resuscitate a few this afternoon. Thanks for the excellent motivation.

  12. Joe Loomer

    July 21, 2009 at 11:57 am

    I had a lead sign in to my site and put the following email:

    michael.jackson [at] isdead.com

  13. Peter Greer

    July 22, 2009 at 11:10 am

    Missy, Your right on. Although I’ve moved on from active sales I will testify that even in the days before internet leads these points were valid. I managed several thousand leads and never eleminated the B,C or D clients. Too many trainers tell agents to only concentrate on the A client but forget that the others will most likely buy or sell at some point. If you are the only one following up in six months or even years later you are the automatic shoe-in. Another point is that if an agent has any desire to sell their “Book of Business” then these older leads are essential.

  14. Atlanta Real Estate

    October 8, 2009 at 11:18 am

    Ahhhh!

    🙂

    RM

  15. Rich Gaasenbeek

    November 21, 2010 at 11:12 am

    I completely agree Missy. A critical tool for keeping track of old leads and staying in touch with them on a regular basis is a good contact management system. Effective contact management is one of the key contributors to long term success in real estate sales.

Leave a Reply

Your email address will not be published. Required fields are marked *

Austin

Austin tops the list of best places to buy a home

When looking to buy a home, taking the long view is important before making such a huge investment – where are the best places to make that commitment?

Published

on

Looking at the bigger picture

(REALUOSO.COM) – Let us first express that although we are completely biased about Texas (we’re headquartered here, I personally grew up here), the data is not – Texas is the best. That’s a scientific fact. There’s a running joke in Austin that if there is a list of “best places to [anything],” we’re on it, and the joke causes eye rolls instead of humility (we’re sore winners and sore losers in this town).

That said, SelfStorage.com dug into the data and determined that the top 12 places to buy a home are currently Texas and North Carolina (and Portland, I guess you’re okay too or whatever).

They examined the nerdiest of numbers from the compound annual growth rate in inflation-adjusted GDP to cost premium, affordability, taxes, job growth, and housing availability.

“Buying a house is a big decision and a big commitment,” the company notes. “Although U.S. home prices have risen in the long term, the last decade has shown that path is sometimes full of twists, turns, dizzying heights and steep, abrupt falls. Today, home prices are stabilizing and increasing in most areas of the U.S.”

Click here to continue reading the list of the 12 best places to buy a home…

Continue Reading

Housing News

Average age of houses on the rise, so is it now better or worse to buy new?

With aging housing in America, are first-time buyers better off buying new or existing homes? The average age of a home is rising, as is the price of new housing, so a shift could be upon us.

Published

on

aging housing inventory

aging housing inventory

The average home age is higher than ever

(REALUOSO.COM) – In a survey from the Department of Housing and Urban Development American Housing Survey (AHS), the median age of homes in the United States was 35 years old. In Texas, homes are a bit younger with the median age between 19 – 29 years. The northeast has the oldest homes, with the median age between 50 – 61 years. In 1985, the median age of a home was only 23 years.

With more houses around 40 years old, the National Association of Realtors asserts that homeowners will have to undertake remodeling and renovation projects before selling unless the home is sold as-is, in which case the buyer will be responsible to update their new residence. Even homeowners who aren’t selling will need to consider remodeling for structural and aesthetic reasons.

Prices of new homes on the rise

Newer homes cost more than they used to. The price differential between new homes and older homes has increased from 10 percent traditionally to around 37 percent in 2014. This is due to rising construction costs, scarcity of lots, and a low inventory of new homes that doesn’t meet the demand.

Click here to continue reading this story…

Continue Reading

Housing News

Are Realtors the real loser in the fight between Zillow Group and Move, Inc.?

The last year has been one of dramatic and rapid change in the real estate tech sector, but Realtors are vulnerable, and we’re worried.

Published

on

zillow move

zillow move

Why Realtors are vulnerable to these rapid changes

(REALUOSO.COM) – Corporate warfare demands headlines in every industry, but in the real estate tech sector, a storm has been brewing for years, which in the last year has come to a head. Zillow Group and Move, Inc. (which is owned by News Corp. and operates ListHub, Realtor.com, TopProducer, and other brands) have been competing for a decade now, and the race has appeared to be an aggressive yet polite boxing match. Last year, the gloves came off, and now, they’ve drawn swords and appear to want blood.

Note: We’ll let you decide which company plays which role in the image above.

So how then, does any of this make Realtors the victims of this sword fight? Let’s get everyone up to speed, and then we’ll discuss.

1. Zillow poaches top talent, Move/NAR sues

It all started last year when the gloves came off – Move’s Chief Strategy Officer (who was also Realtor.com’s President), Errol Samuelson jumped ship and joined Zillow on the same day he phoned in his resignation without notice. He left under questionable circumstances, which has led to a lengthy legal battle (wherein Move and NAR have sued Zillow and Samuelson over allegations of breach of contract, breach of fiduciary duty, and misappropriation of trade secrets), with the most recent motion being for contempt, which a judge granted to Move/NAR after the mysterious “Samuelson Memo” surfaced.

Salt was added to the wound when Move awarded Samuelson’s job to Move veteran, Curt Beardsley, who days after Samuelson left, also defected to Zillow. This too led to a lawsuit, with allegations including breach of contract, violation of corporations code, illegal dumping of stocks, and Move has sought restitution. These charges are extremely serious, but demanded slightly less attention than the ongoing lawsuit against Samuelson.

2. Two major media brands emerge

Last fall, the News Corp. acquisition of Move, Inc. was given the green light by the feds, and this month, Zillow finalized their acquisition of Trulia.

…Click here to continue reading this story…

Continue Reading
Advertisement

Our Great Partners

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Emerging Stories

Get The American Genius
neatly in your inbox

Subscribe to get business and tech updates, breaking stories, and more!