In many parts of our country, the residential real estate market is beginning to show signs of a full-fledged rebound. Ask agents in the right areas and you’ll even hear that long-lost phrase “seller’s market”. A shortage of inventory can bring mixed blessings depending on which side of the transaction you tend to work on, but regardless we’re hearing one simple phrase from more and more agents who receive leads online, “I have too many leads”.
Is there really such a thing as too much potential business?
Obviously, there can always be situations when you have more inbound leads than you can handle. But, letting these leads disappear without turning them into some additional revenue is simply silly. While every agent feels they can deliver the best service to their leads, surely they know other well-qualified agents that they can refer leads to in exchange for a commission split or just some goodwill.
Why give away clients?
Let’s consider what would happen to the excess leads otherwise. If you’re too busy to follow-up with everyone, you must be using some strategy to determine which leads are most valuable for you to focus on. Perhaps you go after the ones that seem closest to closing or are a higher dollar value?
This is a strategy that many busy agents use, but may not be best for your business or bottom line. Consider the ill-will you may generate with a prospect that got in touch about purchasing a nice starter house and was ready to buy. You never responded because you were busy chasing what you thought were higher value leads? Chances are you’ll never get another opportunity to work with them again and they’ve found another agent who will get all of their referral and residual business.
You pay good money for online leads from Zillow, Trulia, Realtor.com and the like, so don’t let your initial assessment of a lead impact your business decisions. If you truly are too busy to handle all of your leads, make the initial contact and if they aren’t the highest value lead for you at that time, find another agent that will take them on in exchange for a commission split.
Too busy to do that? Then use a product like ours at FiveStreet to automatically respond to your inbound leads, help qualify them and then easily refer the ones you don’t want to other agents to let you earn some additional income.