There has been so much hype during the past few years about how fabulous the opportunities are with internet prospecting that large numbers of agents, and even entire companies, have made the internet the primary focus for prospecting.
THIS IS A BIG MISTAKE!
We recently had the opportunity to track the source of every buyer that had purchased and closed during the past year. The results were eye-opening. Not surprisingly, the majority of sales were coming from:
– Sphere of influence networking
-Past clients and other referrals
– Sign calls
– Open houses
– Direct mail
– Print advertising-(very light)
But, the common thread that ran through all closed transactions was that the majority of business had come from listings! This was especially true with internet success. It is true that most buyers start their search on the internet. But, the majority of the buyers that were actually purchasing homes that included internet search were buyers that had contacted the agent and company not because of web optimization but rather because of listings that the agents and companies had. There was lots of response from realtor.com, trulia.com, zillow.com, and others, but buyers that were doing random searches were much more difficult to qualify and much less likely to buy. Much of the time these buyers hadn’t even made a commitment to a particular area yet.
In contrast, the buyers that were generated on the web through sign calls and open houses were highly qualified buyers that afforded a much higher conversion rate for agents representing buyers. The moral of the story:
LISTINGS DRIVE MOST REAL ESTATE BUSINESS.
THEY ALWAYS HAVE, AND ALWAYS WILL!!!
So, the next time you become intrigued by pay-per-click programs and other fancy marketing schemes that are being presented with highly sophisticated sales presentations by big companies with deep pockets and well-trained salesman, don’t get caught up in the dazzling new technologies.
THINK TWICE BEFORE YOU WASTE YOUR HARD-EARNED MONEY.
Instead, go out and get business the old-fashioned way. PROSPECT FOR LISTINGS and let them bring the best buyers to your table.