It’s been an interesting first 5 months in Brevard County Florida. Arguably we have one of the worst Real Estate markets in the country. Our prices came down from $275k average at our peak in 2005 to $117k average currently. The good news is that we seemed to have leveled for about a year and days on the market are averaging 90-120 days for most homes with 30-60 days for homes priced correctly.
Many consumers have been burned by a short sale or two and have decided to stay away from them. We like that! We also been able to increase our home sales price to $144k this year by better understanding our buyers and our leads.
Like I said, it’s been an interesting first 5 months. We are on track to beat our numbers from last year by at least 20% maybe more. We are closing 30-46 homes per month which is up from our average last year of 28 closings. It’s very exciting.
So what can I attribute our continued growth each year? Two things, Buyerlink and lead conversion.
BuyerLink is a no-brainer since I capture twice as many leads at half the cost of what I was paying with Google and Yahoo!. Once you do capture the lead, you have to be able to do something with it. The key to lead conversion is systems. Because BuyerLink produces so many leads, you need to be sure to have a solid conversion system including listings, drip campaigns and most importantly phone call follow up.
If you don’t have a system in place, not only do you not get the return you are looking to get, you can waste a ton of money!
I could spend hours going over most of this stuff, but the reality is, converting leads is just not that hard. Half of it is attitude. Look at each lead as a potential customer for life, each and every lead. Do not prejudge them. When they say they are buying in 6 months, don’t say: “call me in 6 months when you are ready”. Your thoughts should be, “I have 6 months to create a great relationship with this person”. Attitude is huge!
The other half of course is your system. This should include sending listings, a newsletter, a just checking in letter and a solid phone call follow up system. You have to stay in touch with them. Most of this can be done using Microsoft Outlook which almost every computer has these days. It’s vital to put in place your call back schedule and place them in your calendar so you don’t forget!
Finally, have fun with it. Internet Lead Conversion can be very time consuming and frustrating. I try to keep everyone in my office upbeat and happy. Do we have our issues sometimes? Of course we do, more than I would like to think about. However, we have our no complaining rule where we kick you out of the office if you whine. When we hit our monthly goal we all go out to eat or go bowling. We did it again this past month so I think we will all go play laser tag. Not sure how the out of shape people will do, but it sounds like fun to me!
We work hard but I always encourage everyone in the office to have as much fun as you can. Your customers will love it and you will attract positive actions. It just works that way. It’s a tough enough business as it is, the more fun you have the easier this business becomes.