They are giving me leads…
Are they? Is that a good thing?
I hear this from new agents and thought I’d talk about it a bit. Getting leads from your office sounds like a good deal but I think most of the time it’s a disappointing experience.
Some companies advertise and drive traffic to a website, capture info like name and phone number and then distribute those as leads to agents in the office or offices if the company is a big one. It’s enticing to think you’ll get a deal like that but the quality of the lead is really important.
Have they been looking for a long time? Usually, these leads are for buyers. If a buyer has been in the hunt for a while you might find out they are a shopper and not a buyer. They can waste a ton of time and that is the only truly limited resource you have.
Are they able to buy a house right now? Are they prequalified with a lender you trust? It’s the first thing you have to resolve and asking a few questions can be helpful but you have not developed trust yet and if they won’t listen to you it can be painful when it’s time to close.
Are they realistic in their needs and wants, in the market you’re working in? If they want a 5 bedroom, 4 bath house in Atlanta for under $200K it would be a big waste of time to try and find that right now.
The bottom line, those free leads will likely have a 1-2% close rate, cost you tons of time and will add to your stress level. It’s like paying for leads online and the close rate is about the same.
If you’re not learning to find your own business then you become dependent on someone else to give it to you. When the market changes and those leads dry up, now what? Do you have the knowledge to pivot and keep moving forward when the change comes?
Would you rather join a company that provides training in getting your own leads? Someone to teach you how to work your database and sphere of influence for referrals? Giving you training and scripts to build your own database and work with folks who already trust you because their friend or family member referred you? No competition on that listing appointment?
There is no free lunch. It always has strings attached or establishes an expectation that likely is unrealistic. When the change comes to the market (and it will) you need to have the skills to keep going.
This is a business that rewards our efforts if we spend the time needed to learn the skills. Having someone feed you leads is not teaching you the most important part of this business. Lead generation is critical to your success and it should not be in the hands of someone else. It’s your job to learn.