Today’s lead follow-up is more competitive than ever between brokers and agents trying to get the same clients. Potential clients are searching for properties online and want instant gratification. First impressions made on the telephone will make a big difference in whether or not you close the deal with that lead. A difference of a few minutes can make or break a deal with your new client. Chances are, they’re on the phone with some other brokers right now, while you’re thinking about calling them back.
A study by Lead Response Management examined data over three years that included 15,000 leads and over 100,000 call attempts. The data from this study showed some important information about effective lead follow-up.
Calling leads back quickly makes a huge difference.
The Lead Response Management study shows that calling your lead back within 5 minutes vs. 30 minutes boosts your chances of contacting a lead by a hundred times. The odds of qualifying the lead within this time frame drops 21 times. From there, the likelihood of making a contact on that lead drops astronomically.
Know when the best times to call back are.
You’re most likely to reach people on their telephones and have them answer the call from 4 to 6 p.m. on a weekday, followed by 8 to 9 a.m. The best times to qualify leads are from 4 to 5 p.m., followed by 11 to 12 a.m.
According to the study, the worst time of day to reach people to make contact with them, or qualify them as a lead, was found to be 1 to 2 p.m.
Calling back after 20 hours may be hurting your business.
The study also pointed out that when leads are called back after 20 hours the chances of being qualified is 1000 times less than responses 5 minutes after the initial inquiry. Furthermore, the delayed time may cause the lead to respond negatively to the follow-up call. This negative response then affects the agent’s outlook on making calls to future leads.
A quick follow-up time means that the agent is always talking to interested leads, who quickly give them the information about what they’re looking for. In turn, the agent is more effective and does more business because they have more customers to work with.
With the introduction of more and more automation tools, clients are getting responses faster. Calling a lead back within five minutes of their initial inquiry will make the difference between closing a deal or not.
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