Analysis of Lead Conversion Administrators

Posted by: Mitch Ribak on September 6th, 2010

Several months ago I wrote a follow up blog post on our LCA program and I’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. It’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 LCA’s contact as many people as possible per Agent, that we are increasing their sales. It’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 didn’t have our LCA program? Good question, I don’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, it’s all about the contacts!



4 Comments on “Analysis of Lead Conversion Administrators”

jerome wilkerson

I’ve been following Mitch’s Posts for some time on the Real Estate Web Master’s Forum, and he is a piece of work! He really studies his business, and then shares with the Realtor Community.

Dale Falkowski

what do you do with the leads that are wrong numbers and never respond to emails? Do you just Can them? Do they even count as leads?

Brian Kinkade

Mitch, thank you for the continued updates on the progress of your LCA program. I am a true believer in the value of having follow up systems. To that end, I will be posting my LCA job opening next week and hiring in October.

Alex Cortez

Great info. Way to be methodical in implementing/testing new facets that can have significant impacts on your team’s production. I know when I’m ready to grow my team (currently it’s the little lady and myself) I will definitely be studying all of Mitch’s detailed analysis. Great job and thanks for sharing, Mitch.

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