This is Why There is No Such Thing as a Bad Lead

Screen Shot 2017-12-12 at 9.23.58 AM.png

“These leads are junk!”

You’ve either heard it or said it about one lead source or another in your real estate career.

I’m here to tell you that there’s no such thing as a bad lead.

Notice I didn’t say that every name that pops into your CRM is a good name, that every phone number you get is a good phone number and that every email address is the right address.

We’ve all gotten our share of leads that look like this:

  • Name: Superman
  • Phone number: 214-555-1234
  • Email: superman@yousuck.com

It’s all part of the process, but it’s not a bad lead.

In fact, it’s not a lead at all.

It’s just bad information.

And if you think about it, Superman can fly anywhere he wants faster than a speeding bullet to be some place in minutes. Why would he need a house anyway? Right?

All kidding aside, at the end of the day, it has to do with what qualifies as a lead and what you do to convert that lead.

Once you understand that, you, too, will agree that there’s no such thing as a bad lead.

Why There’s No Such Thing as a Bad Lead

Let’s start with the basics:

The definition of a lead:

  • If a lead is going to be a good lead, it needs good contact information. In my world, a AAA lead is one that has a good name, a correct phone number and a good email address (and that’s only if an email address is possible to be provided based upon a lead source.

Now, if the lead only has a good phone number and an email address, but no name, that’s still a good lead.

If you only have a good phone number or a good email address, that’s still a lead. I prefer phone numbers over email addresses, but good contact information still qualifies it as a lead.

Email addresses, alone, really hamper the conversion process, so I don’t love just having an email address. But again, if it’s a good email address, it’s a lead you have a shot at converting it.

If you have a good home address and can get the phone number through some sort of reverse look-up mechanism online, that can qualify as a lead, too.

So, if you have any sort of good contact information and have the ability to start and continue a conversation with someone, that’s a lead.

If you don’t have any good data, it’s not a lead. Plain and simple.

Screen Shot 2017-12-12 at 9.28.25 AM.png

The definition of a lead Part II:  

  • A good lead must also express an interest in (and be willing and able to) buying or selling a home at some point in the future.

Now, before you start to aim that pointer finger and shout “I told you so” at your computer screen, consider this…

Prospects tell people all the time that they’re not interested in selling/buying when they really are.

In most cases, it’s because it’s not the right time for them.

You see, most people overestimate how long the process is going to take and underestimate how much money they’ll need in order to sell or buy a home.

The average Internet generated buyer lead is anywhere from 4 to 6 months away from buying a home.

The average home value and demand generation seller lead – expireds and fsbos notwithstanding – is at least 6 to 8 to months away from selling.

The key to getting the business is whether you follow up consistently and long enough or not. I’ll talk more about this in the next section, but it’s good info for you to know.

As a result of that, lots of prospects get to the job of researching selling or buying a home way before they are ready either from a time standpoint or a monetary standpoint.

Subsequently, that’s why it doesn’t always have people’s true timing and motivation (or a solid gauge on their actual capabilities to complete a sale) lined out perfectly for you when your email or phone dings to let you know a hot new lead has come your way.

And it’s also why you have to do some digging – and call multiple times – to convert a suspect to a prospect, a prospect to an appointment and an appointment to a client.

Which leads me to my third point…

There is such a thing as bad follow up:

  • There was a study done by a brokerage that generated 5,000 online leads over a 12-month period. The goal was to measure the conversion rate and the ROI.

The breakdown of the lead sources was 3,500 buyer leads and 1,500 seller leads.

The results of the study were shocking to say the least.

Of the 5,000 leads that were generated by and for this brokerage, 678 of them turned into actual sales within 12 months.

That’s a 13.56% conversion rate and awesome by anyone’s standard.

Much to that broker’s chagrin, only 4% – yes that says 4% – were captured by the agents to whom those leads were given in that brokerage.

The rest were picked up by agents outside of the brokerage in the same marketplace.

Here’s the kicker: there were over 200 agents in that brokerage that received leads.

The broker, himself, thought the leads were junk until he did his research and completed his study. Once he got the results, he realized that it wasn’t the leads that weren’t performing.

It was the follow up.

Screen Shot 2017-12-12 at 9.31.17 AM.png

79% of the leads that agents believe to be junk and then toss in the trash are done so without proper follow up through calls, emails, drip campaigns and voicemail strategies.

As well, according to Realtor.org after interviewing thousands of home sellers and buyers, leads generated from marketing account for 40% of real estate business.

And this does not include outside referrals and repeat business.

Leads generated online leads are proven to be the fastest way to put yourself into position to get repeat business.

This explains how some agents can start online lead generation efforts in a market and within two years, be a major player in their geographic area.

Hopefully, I’ve gotten you to take a different look at the leads you generate. If you’ve got good contact info, it’s a lead. If the person you’re talking to is looking to move at some point in the future, it’s a lead.

If you’ve got good contact information and the person says they’re not interested…but you use good scripts and dialogs to find out the truth: that’s a lead, too.

Remember, it’s not a bad lead…it’s just bad timing.

WANT TO DOMINATE YOUR MARKET?

Subscribe to the Market Maker Blog!

About Keith
Former U.S. Marine and father. I've been helping agents for the past 6 years grow their business and achieve their version of success.
Senior Strategic Business Advisor
“If you want to achieve success, all you need to do is find a way to model those who have already succeeded”
About Beth
I work closely with all new clients to get them onboarded. Once onboarded I train them to use the system that the developers have created.
I have been working in Customer Service and Management since 2013. I always tend to gravitate towards careers that involve me helping people! Here, I work with all of our new clients and train them on the system which allows me to talk to so many diverse personalities and incorportate the ever changing advances of technology.
"""I'm not superstitious, but I am a little stitious"" -Michael Scott"
About Devin
I work in our web development department. I help to utilize modern techonologies and stategies to improve your lead count and accuracy
I've worked as both CTO of a digital marketing firm and as a developer for a Transportation management company. I learned my passion for building programs that utilize big data to help people accomplish their jobs better and faster. A good day for me is talking to the people our program helps on a daily basis
Banging your head against a wall for one hour burns 150 calories.
About Beth
I work closely with all new clients to get them onboarded. Once onboarded I train them to use the system that the developers have created.
I have been working in Customer Service and Management since 2013. I always tend to gravitate towards careers that involve me helping people! Here, I work with all of our new clients and train them on the system which allows me to talk to so many diverse personalities and incorportate the ever changing advances of technology.
"""I'm not superstitious, but I am a little stitious"" -Michael Scott"
About Tabatha
Cult Leader
I do customer support. I answer chats and tickets
About Beth
I work closely with all new clients to get them onboarded. Once onboarded I train them to use the system that the developers have created.
I have been working in Customer Service and Management since 2013. I always tend to gravitate towards careers that involve me helping people! Here, I work with all of our new clients and train them on the system which allows me to talk to so many diverse personalities and incorportate the ever changing advances of technology.
"""I'm not superstitious, but I am a little stitious"" -Michael Scott"
About Jake
I eat, drink and sleep the Cardinals!!!
Cheering for the Cardinals
"GO CARDINALS!" -Me
About Beth
I work closely with all new clients to get them onboarded. Once onboarded I train them to use the system that the developers have created.
I have been working in Customer Service and Management since 2013. I always tend to gravitate towards careers that involve me helping people! Here, I work with all of our new clients and train them on the system which allows me to talk to so many diverse personalities and incorportate the ever changing advances of technology.
"""I'm not superstitious, but I am a little stitious"" -Michael Scott"
About Beth
I work closely with all new clients to get them onboarded. Once onboarded I train them to use the system that the developers have created.
I have been working in Customer Service and Management since 2013. I always tend to gravitate towards careers that involve me helping people! Here, I work with all of our new clients and train them on the system which allows me to talk to so many diverse personalities and incorportate the ever changing advances of technology.
"""I'm not superstitious, but I am a little stitious"" -Michael Scott"
About Beth
I work closely with all new clients to get them onboarded. Once onboarded I train them to use the system that the developers have created.
I have been working in Customer Service and Management since 2013. I always tend to gravitate towards careers that involve me helping people! Here, I work with all of our new clients and train them on the system which allows me to talk to so many diverse personalities and incorportate the ever changing advances of technology.
"""I'm not superstitious, but I am a little stitious"" -Michael Scott"
About Julia
Licensed Realtor since 2009. Experience as a Designated Broker, Team Manager, Buyer's Agent and Listing Agent, Compliance and years of working on a lead generation platform. Here to help you be successful.
I will be there to help ensure that you are successful with our Market Maker lead generation platform.
"Successful people do what unsuccessful people are not willing to do. Don't wish it were easier; wish you were better." --Jim Rohn
Earnings Disclaimer
Every effort has been made to accurately represent our products and their potential to help our customers, their businesses and/or their clients.

There is no guarantee that you will earn any money using our software or ppc marketing and ideas in our (“these”) materials. Examples in these materials are not to be interpreted as a promise or guarantee of earnings. Earning potential is entirely dependent on the person using our product, ideas and techniques. We do not position any products or services as a “get rich scheme.”

Any claims made of actual earnings or examples of actual results can be verified upon request. Your level of success in attaining the results claimed in our materials depends on the time you devote to the ideas and techniques mentioned, your finances, knowledge and various skills. Since these factors differ by individual, we cannot and do not guarantee your success or revenue generation, nor are we responsible for any of your actions related or not related to these materials.

Materials in our product and on our website may contain information that includes or is based upon forward-looking statements within the understood meaning as of 2020. Forward-looking statements give our expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with a description of potential earnings or financial performance.

Any and all forward-looking statements here or on any of our sales material are intended to express our opinion of earnings potential. Many factors will be important in determining your actual results and no guarantees are made that you will achieve results similar to ours or anybody else’s. No guarantees are made that you will achieve any results from our ideas and techniques in these materials.

If you do not understand or agree with any of these conditions, please do not order these materials or this material. If you require further clarification, please contact support@marketmakerleads.com.
Accept
Full-time and able to invest $1500/mo into advertisting for their real estate business.
Do to the high volume of inquiries at this time, we can only work with agents who are:
Do you fit these requirements?
Yes, I do.
Not at this time.
Do to the high volume of inquiries at this time, we can only work with agents who are:
Full-time and able to invest $1500/mo into advertisting for their real estate business.
Do you meet these requirements?
Yes, I do.
Not at this time.