Real Estate Lead Management
Is a lack of a good lead management process costing you money?
In 2019, $10 billion was spent on real estate marketing. That’s a lot of money, but it’s a believable amount.
What’s harder to believe is 50% of all that money was wasted because half the leads generated never received a follow up.
That’s why the problem for this week’s podcast guest, Ravi Abuvala, isn’t finding leads. Rather, it’s finding the time to have quality conversations.
Ravi’s company, Scaling with Systems, solves this problem for entrepreneurs, including real estate agents, by providing them with an inside sales agent (ISA) – a sort of real estate virtual assistant.
An inside sales agent (or ISA) is a trained and licensed salesperson. They spend 80-90% of their time on the phone prospecting for new leads, fielding inbound leads that come from internet ads and other sources, and converting them to appointments for sales agents. Their job is to take the time-consuming burden of lead conversion off the agent’s plate and to maintain contact with leads until they are ready to act.
Essentially, Ravi’s clients are freed up from the burden of follow up and instead spend their time having quality conversations with warm leads. And the strategy works.
According to The Real Estate Trainer, real estate teams who use an inside sales agent have found “the income they produce to be at least five times the cost of employing ISAs.” That’s a 5:1 return on investment.
How an inside sales agent can optimize your real estate lead management process.
Luke, Josh, and Ravi talk about Facebook ads and how, as Ravi puts it, they are another of the world’s wonders—at least as far as marketing is concerned. If you do it correctly, running a Facebook ad campaign could literally bring in hundreds of leads—any one of which could pay for the campaign dozens of times over. And the guys offer several examples that work every time.
But following up on all those leads can be a problem. There aren’t enough hours in the day, especially when you consider that hitting the lead fast and before anyone else is often the key to getting the appointment.
This is exactly where an inside sales agent proves their value. They work during the hours when most agents are off the clock … the precise hours when most leads come in.
Even if you aren’t in a position to consider hiring an inside sales agent, tune in because this episode of Stay Paid is full of high-octane information. Luke considers it one of our top five interviews, and I agree. We think you will, too.
- So much of your success depends upon your mindset. Either you think, “I can do that,” or you think, “I can’t do that.” In both cases, you’re right.
- You can create mini-CEOs of all your employees if you give them the authority and tools necessary to achieve a result, and then hold them accountable for getting there. A good team will find ways to solve problems that get in the way of desired results.
- Getting leads is typically not the problem in business. Following up on those leads is where the ball gets dropped.
- Do the math and you’ll see that Facebook ads provide a tremendous ROI.
- If you have a team, implement a mini-CEO system where you set the goal, provide the resources, and let the team figure it out while being held accountable.
- If you don’t have a team, advertise on Facebook, and then follow up. Use the ad ideas provided in the podcast.
You can find Ravi on all social media platforms. Search his name: Ravi Abuvala.
You can find Ravi’s free lead gen training at ScalingWithSystems.com/paid.