Several months ago I wrote a follow upÂ blog post on our LCA program and Iâ€™m glad to say it has worked out great. Our sales are 20% of last year with the same amount of leads generated. In a market where we are still hurting, especially since the tax credit stopped, we are continuing to sell above the rest of the competition. Itâ€™s tough to quantify our numbers at this point and most likely will have difficulty until the end of the year.
With that said, we have learned some great lessons in numbers from our LCA program.
Here they are:
- We know that 10% of our calls turn into scheduled appointments
- We know that 50% of our scheduled appointments cancel for some reason or another
- We know that 33% of our appointments that show up ultimately purchase a home
So because of that we know that if we want to sell 48 homes in a year per Agent, each Agent needs to call 240 people per month to schedule 24 appointments to show 12 different customers to receive 4 sales.
My guess is that these numbers are consistent in most forms of prospecting. The key of course is to work your leads. We know that by having our LCAâ€™s contact as many people as possible per Agent, that we are increasing their sales. Itâ€™s that simple. If you are not hitting the numbers you want to hit and are not calling or following up with your leads, then why would you expect your business to grow?
If we end the year with a 20% increase in our business, it will be the result of our LCA program. How many sales would we have had if we didnâ€™t have our LCA program? Good question, I donâ€™t know that answer and am not sure if that is even possible to figure out. We have had tons of people email our Agents letting them know that their assistant (LCA) had left them a message. In the end, more contacts equals more sales. Whether you are doing this yourself or having an LCA help you, itâ€™s all about the contacts!