Following Up With the Lead Conversion Administrator Program

Posted by: Mitch Ribak on June 23rd, 2010

It’s been almost 6 months since we started our Lead Conversion Administrator (LCA) program. So much has happened and I continue on the quest to increase our lead conversion.  I won’t do lead conversion stats for another few weeks, but I thought our results so far are very notable.  So far this year we have closed about 175 properties with 15 more set to close this month.  On top of that we have around 20 or so short sales contracts waiting to close too. We know that doesn’t mean anything though.  Right now we are 19.1% ahead of last year which keeps in line with my goal of 20% growth per year.

With all this said, it’s still interesting with the struggle we have with keeping Agents in work mode.  Yes, the market has been tough.


However, as I try to explain to my Agents, it’s only tough if you are trying to sell listings.  Since 90% of our sales come from buyers, my Agents need not worry about how bad the market is, but how they can help their customers.  We are blessed to have over 38,000 leads in our system and a software product, our 100MPH Marketing software, that allows us to seek out only the most active leads with potential to buy.  I have been analyzing my numbers on a regular basis.  I know, no surprise to those who know me.  It still comes down to having the right agents.  I have 21 Agents right now.  Of those Agents, 12 never sold a home prior to coming to my office and are all on track to have at least 20 sales this year.

I have nine Agents who had four years or more of experience prior to coming to work at Tropical Realty (although we asked two to leave yesterday). These nine Agents have only 31 sales between them.  How would our numbers be affected by having nine Agents who are as active and successful as my other Agents?  One might never know, but with all our other Agents between eight and 14 sales each, it’s pretty clear to say if those nine Agents had the work ethic of the “non-experienced” Agents, we might be 30% or 40% higher than last year.

Currently, our LCA’s are helping 14 Agents.  Of those, 12 are my top Agents and two are in the lower group.  The interesting aspect of this is how can I have 12 people on the LCA who are being successful and writing contracts regularly and have two that have less than five sales this year.  I don’t know the answer.  It’s not an LCA issue as that position has definitely increased our sales.  We can account for many of our sales coming as a result of the LCA calling the customer.  Would the Agent have called these people on their own? Probably not, but there is no way for me to really know.  As much as I believe in the LCA program, and I’m spending a good amount of money proving the program, I still think it comes down to Agents.  You can offer Agents all the help in the world, but if the Agent isn’t doing their part, then there is nothing anyone can do for them.  I have found that “old school” Realtors just don’t change their ways.  They still think the world will contact them when the time is right.

So, after all that, why are we up 19.1% this year?  The only thing we changed was adding the LCA.  The numbers have been pretty consistent.

About 50% of the leads we calendar have been showing up each month.  Of that, 35% have bought homes.  As long as these numbers stay consistent, it gives me another avenue to continue to grow my business.  In the end, I will have 20 Agents selling 30-50 homes each year.  It may take having one LCA for every two Agents (which I believe will be where I end up), but it will most certainly take having the right agents in my corner to achieve this goal. As I told my staff at last weeks meeting,  ”My dream when I opened this company was to have 20 Agents selling 40-50 homes per year each.  I have hoped that you are all going to be part of that dream.”  They understood exactly what I  meant.

As always, if you have any questions on how our LCA program works or anything else with regard to increasing your sales with your BuyerLink product, don’t hesitate to ask.  I write on this blog and support HomeGain and the BuyerLink product for one reason. It works!



4 Comments on “Following Up With the Lead Conversion Administrator Program”

Alex Cortez

Wow, those are some remarkable numbers, Mitch. I can definitely see how/why new agents would be more productive than more ‘experienced’ agents. Being new to the industry, ambitious, and hungry to learn, new agents are more apt to learning new systems, embracing change (as it’s not really ‘change’ for them), and having a strong work ethic. I’ll hit you up offline about Buyerlink (I don’t want to hijack your thread) as I’m definitely interested.

Brian Kinkade

Great news Mitch! I will be adding an LCA position to our team shortly. I simply can’t wait!!!

Mitch Ribak

We just ended the month with 42 closings and $6,067,615 in sales. The first six months ended with 193 sales and just under $28 million. This puts us 23% ahead of last year. The only difference? The LCA program. Of course I still won’t be 100% sold until a full year of testing is in place, but for the first six months, I’m putting my money into my LCA program and will most likely hire 1 or 2 more shortly.

Lead answer

This is a sailing effect which can’t be deny , and LCA really did a great job to bring out the issues related to the coversion problem , it will makes the work much easier.

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