Are You Losing Real Estate Sales and Leads Because of Slow Response Time?
A 2011 study released by Harvard Business Review showed a direct link between fast response times to prospective buyers’ inquiries and increased sales. The results of the study are jarring and cause for real estate professionals to take notice if they want to succeed in this increasingly mobile world.
According to the numbers, companies spend roughly $22.7 billion generating sales leads online. Those that followed up within one hour were seven times more likely to qualify the lead than those that followed up after an hour. What’s even more interesting is they were 60 times more likely to qualify the lead than those that waited 24 hours or more to respond.
To put this into perspective:
- Twenty-three percent of companies never respond at all.
- Twenty-four percent of companies took more than 24 hours to respond.
- Sixteen percent of companies responded within 24 hours.
- Thirty-seven percent of companies responded within the hour.
What this all translates into is roughly two-thirds of companies all over the country are throwing away money they have invested in lead generation simply by waiting too long to respond to their customers’ inquiries. An estimated $14.6 billion is being wasted and business professionals are missing out on potential opportunities by not following up on leads in a timely manner.
As a real estate professional, having a system in place to respond to inquiries faster than your competition so you can be in that thirty-seven percent, will essentially increase sales and give you a way to build lead lists for future use.
The Real Estate Mobile Marketing Resolution
Thanks to technology and an increasingly mobile society, real estate professionals can organize their business, generate lead lists, answer potential buyers’ inquiries and increase their sales with a powerful online tool called a mobile marketing platform. A mobile marketing platform, like the one here at Propertybytext, allows real estate professionals to organize a successful mobile marketing campaign with tools such as QR codes, text IDs and much more. The most advanced mobile technology is available all in one place, in a convenient, easy to use online application.
The beauty of an online mobile marketing platform is with features like instant notifications in real-time, real estate agents and professionals can respond to inquiries quickly to increase their chances of making a sale. You stay one step ahead of the competition because you utilize the power of mobile marketing and online mobile marketing platforms.
Real estate professionals know that every potential buyer is important. It is tough making that sale, but with tools like a mobile marketing platform, you provide better information in less time, with less work on your part, and make more sales. Respond quickly to your leads – within one hour if possible – so you stay ahead of the game. Good customer service pays off, and when your potential buyers feel they are important because you responded quickly, you’ll notice your sales begin to increase.