Chasing the Internet Lead

Posted by: Mitch Ribak on October 18th, 2010

I’ve been online tonight reading a lot of different views on Internet Leads.  I keep hearing and reading the same complaint.  “Internet leads are no good because I don’t want to chase the business.”  “They are never serious buyers.”   “I would rather work on referrals and networking”.

It’s interesting because in some ways, not much as changed since I got into Real Estate back in 2001.  I was told then by everyone, don’t waste your money or time on Internet Leads.  As I look back, all of those real estate agents who told me that either never had more than a half dozen sales per year, or are no longer in business today.

So let’s talk for a minute about what they call “chasing the Internet Lead”.

Firstly, chasing and prospecting can be interchanged.  If you are going to make money in this business, you need to understand that prospecting is a major part of this business, at least for those who are successful.  I recently attended a seminar in Las Vegas that had 4,200 Agents attending.  I had talked to probably 50 Agents that sell between 50 and 150 homes per year.  They all had one thing in common: they all prospect daily.  Therefore, they are successful because of the amount of prospecting they do on a daily basis.

So what does this have to do with Internet Leads?

It’s the same thing.  Instead of prospecting by using a phone book or walking a neighborhood and knocking on doors, we choose to prospect our database (which has now exceeded 40,000 buyers).  Chasing Internet Leads is really marketing online, capturing real estate leads, and then figuring out which leads are going to buy.  If you are really good at this, your numbers can equal the numbers of the top Agents who prospect daily following cold call systems.

However, the beauty of Internet Leads and prospecting them, is if you do it correctly, it isn’t even close to cold calling.  It’s warm calling.  After all, they registered on your site and they expect you to contact them.

I know many of you are working harder than ever these days and trying to figure out what is the next best thing you can do to generate sales.  In reality, if you take the time to develop your Internet program, generate as many leads as possible, and then prospect those leads daily, your business will grow sure and steady.

There is no get-rich-quick in Real Estate or really in life.

Look at it this way, if you started generating leads today at just 60 per month, by next year this time you will have 750 leads in your system.  If you follow any of my lead conversion systems, half of these leads will still be active next year.  Within a few years, you will have a very viable business generating predictable sales year in and year out.

Does it happen overnight?  Of course not, success never does.



4 Comments on “Chasing the Internet Lead”

Alex Cortez

Aloha Mitch, very well-written article. Too many agents are just not following up on their leads (and some don’t even contact the ‘lead’ upon registration). Being systematic and thorough will pay dividends in this regard. Sure, it takes time, but all things worth doing always take time…

Jolenta @ Madison homes

Terrific article. Since 2009 the majority of my business has been coming from my website registrations. That has enabled me to cut down on the amount of traditional prospecting that I was doing which I don’t really enjoy compared to warm calling. The biggest problem is staying on top of all the new registrants and contacting them in a timely manner. No small feat!

Ria Wise

What a great post! I think it can account to anything in life, or anything sales related. You really have to first, establish a solid and attractive Internet prescence that can ellicit real and effective interest from your possible consumers. And then if they prompt you, the next best step is to have an active dialogue so that they know they can trust you, and you can trust them.

Brian Kinkade

Another great post Mitch! I find so many folks already have such a biased opinion about Internet leads. Often, I hear they tried this system or that, but at the same time, I don’t sense that they tried it for any period of time, nor do hear that they treat this form of business model as they would any traditional model. The best example I see these days is with Short Sales. One of the best methods working to grow your Short Sale business is through door knocking, and it effective, but it’s work. If folks “door knocked” their Internet leads persistently, consistently and wholeheartedly, I’m certain they’d find much greater success but, as with any method of gaining business, you have to work at it.

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