No call. No email. Nothing.
Is this the great promise of technology?
is this the result of an clueless agent?
Is this what happens to “leads”?
I’m hung up on the notion that the word “lead” dehumanizes consumers. It boils us down into this heap of electronic impulses relegated to inbox’s or junk files. To an unfulfilled promise. To an invisible mass of vapor that maybe many agents have lost faith in.
If my inquiry were terrestrial, it would have turned into a baton and passed around an office until it was carried across some agents finish line. I believe for the web to work for real estate, its technology and its agents need to attend to electronic inquiries in the very same spirit. With the very same zest.
This listing was picked from hundreds. Random.
Is it possible that this happens over and over on sites all across real estate to “leads” just like me?
Do you think this might add to the diminishing cache of agents?
Does this reduce consumer trust in light of how effective and advanced customer service or inquiry technology is and how often it’s used in other verticals?
Is this a problem for this individual alone or is this an Achilles heel for real estate in general?
We are at 48 hours.
She is 47.5 hours too late. (I stole that from Greg Tracy)
Had I filled out a request on his site, he would have already sold me the home.
The industry needs more of that than it has.
How can we help this agent?
This is a $2,000,000+ home.
At 5% commission, there is a six-figure payday for services not being rendered.
What tools are there that could be plugged in behind that form that could have conveyed the humanity behind the inquiry and got the agent on with me immediately?
What skills are missing by the agent?
There’s a seller out there that deserves more for their money than their getting.
Part 3 72 Hours later
Part 4 96 Hours later
- Davison
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A mist of difference
Freaking...
It's a real shame (and unacceptable) that this happens, when I've been in the process of moving it has driven me mad. I did a similar study here in London and sent 40 tailor made emails to our most raved about agents and less than a third responded…even though I was trying to list my very expensive Chelsea property and buy two further properties in the capital. Out of few that did respond to the emails, 36% were just generic responses that weren't tailored to my needs. You can read the whole write up here – http://www.zoomf.com/blog/index.php/archives/84
People certainly do deserve better service.
"Is it possible that this happens over and over on sites all across real estate to "leads" just like me?"
I hear, over and over, from people things like:
"You were the first to contact me"
"You were the ONLY one to contact me"
I don't get it.
Same thing happened to me when I was in Florida in early December. I did a search on the web for condos-found a complex I liked and emailed one of the listing agents to see if I could get in and see it. No response yet…I'm hoping I hear before I go down again on spring break.
These are disheartening stories. I believe they serve my contention that much of today's technology and its vendors have gifted real estate with snake oil. Snake oil beliefs about the web. Snake oil promises about their products. Snake oil terms like lead generation that serve to assuage agents fears regarding what real estate is really about – hard work.
How easy is to shove all these loose web inquiries in a container called leads that can be sifted, managed and incubated by software applications. I wonder where I am right now in the assembly line? Probably carted into a contact database. Let the dripping begin.
This is not what real estate is supposed to be! This is not what a relationship is supposed to be. This is not customer service. This is not rising up to the call of a 6% commission on a 2 million dollar sale.
Now, how can the average consumer find the Jay Thompson of their area? The top tier local agent. The agent that calls back right away. That answers email. That regards people as people. That takes this business seriously?
Are there apps that can do that?
Unbelievable! That's all I can say. I am forwarding this to my entire brokerage as a reminder that we need to treat everyone with the respect they deserve. People are people! Not leads, captures, etc…
Amen Dale!
Consider this: Traffic continues to drive to real estate sites in droves.
Viewership on HGTV related real estates shows continue to soar.
Mortgage rates are low.
Home value are dropping.
The market is correcting.
Yet sales are spoken in terms of being "dead".
Could it be that it's not the market that's dead but rather the communication gap between real estate and the consumer?
The story of babel comes to mind by way of consumer and real estate speaking different languages exemplified by real estate trolling for leads and seeking contact info while the consumer is reluctant to tell you who they are but desperately wants to tell you what they want.
This is also exemplified by the dozens of messages, ads, promotions, websites, etc., that real estate presents to consumers that fail on so many levels to convey real estate's true intention as well as the consumers primary needs.
Start by just putting a meebo plugin on your contact me page or licensing real ping move inquiries right to your desktop or cell phone.
There are some good technologies out there that will act as a babelfish and enhance the experience for all parties.
This is just another idication that REAL ESTATE does not operate under the standards of a traditional sales force. And a clear cut reason why the average agent grossed under $40K in 2007.
Our company does a lot of leads management consulting. Brokers and managers will always start the conversation off by saying, "the technology isn't working". After a few minutes of listening to leadership in the brokerage, its turns out to be a manpower problem.
The problem isn't with technology its actually the current management teams in real estate. They don't hold agents accountable for poor pricing strategies, lead responses, quality of communication and or local market knowledge. These are sales functions that directly affect the revenue of any brokerage. Until there is a changing of the guard in the industry, things won't change. We see the same problems across companies of all size in all markets from the west coast to the east coast.
Maybe agents wouldn't think the market was so terrible if they knew how to respond to leads or price home more appropriately to meet the current market conditions.
I've said this many times to brokers and agents. You don't have to be a good sales person, listing agent and or buyers rep to be successful in Real Estate (but it does help). You just need to be FIRST. NAR stats prove this. Approximately 80% of buyers will use the first agent who responds to their inquiry. That's the secret to being successful in REAL ESTATE.
After 48 hours without at call, I would bet the house you don't ever receive a call on the property and you'll have to reach out to someone else.
This is not too surprising since I believe most agents operate like they did 2 years ago when the market was better. I go to broker previews and I'm amazed at how they present their listings. Pretty pictures but no floor plans, no comments about seller buy downs, etc. Just post a few pictures and hope that someone has a buyer. I like to play "Where's Waldo" with their listings, trying to find out if the listing is posted on several sites. I don't see a change coming, just heads in the sand until the "crisis" is over.
"Maybe agents wouldn't think the market was so terrible if they knew how to respond to leads or price home more appropriately to meet the current market conditions."…Derek Deveau
…Exactly
…it is so hard to look any Realtor in the eye and tell them is not about them, it is about who they are talking to.
It was hard for me to do it to myself before I went to talk to the Realtor about our company.
But I can look them straight int the eyes and say this is about You – Your clients are
waiting.
And then, they start to talk.
Steve Stearns
Obeoman
I have an email alert on my phone and answer every email as it comes in. It is hard for me to believe that there are many agents out there not answering these types of emails. With the market the way it is you would think they would jump on them. I guess their lack of attention just means more business for those of us who are quick to respond.
This is a great contribution Tom. Can you expand on what you're doing here for the community?
My team has a saying, call them before their fingers leave the mouse.
We also leave a message, "hey this is Missy, give me a call on my cell?"
Better ROI than selling yourself in a voice mail or even mentioning your site, they are usually on so many that they don't remember. Plenty of time to do that after you connect voice to voice.
It is a sad commentary that Realtors follow up "leads" in their own time and not when the potential customers are looking. Shameful actually.
I like that message Missy. It's like "leave no stone unturned". People want info, agents should give info. People want to buy homes, agents — go help them.