Are you wondering how much lead generating you’ll have to do? Or, even more basic—if you’ll actually have to lead generate? Too many times, agents look at lead generating as a ‘last resort’. In their minds, they are saying to themselves,
“If nothing else works, I’ll pick up the phone.”
So, their lead generating efforts are too little, too late—and done without much skill. In fact, they spend too much time and energy negating various methods of lead generation. They say things like,
“It won’t work for me in my area.”
“I tried that once. It doesn’t work.”
“Isn’t there something new?”
“I’ll wait for people to come to me.”
“I am going to company that provides leads.”
“I’ll join a team and they will provide me as many golden leads as I want.”
In your dreams.
Don’t Listen to the ‘Seasoned’ Agents….
If you’re a newer agent, you’ve probably heard some of those quotes above. You may have even gotten that kind of advice. Don’t listen! Why? Because this isn’t the era of the ‘given lead’. That era was over about 3 years ago! Yet, many agents are still waiting for those ‘good times’ to come back–and they will continue to wait a long time!
Instead of spending countless hours, energy, and money trying to avoid lead generating, you’ll want to make lead generating the cornerstone of your business, not the exception to the rule.
Stay in the Busness Cycle to Get Results
The business cycle, as explained in Up and Running in 30 Days, is:
It all starts with lead generation (prospecting).
How Much Lead Generation to Get a Sale or Listing?
I just got a question from a trainer, wanting to know:
“How much prospecting will one have to do, to generate one sale? Is there a formula? Is there an average?”
I wish I could give you a tight, proven formula. Yet, there are variables that make specific formulas difficult to pin down.
On numbers: I set the goals for the Up and Running in 30 Days program based on my experience on the number of contacts it takes to get a lead, then a sale. But, it also depends on several variables, as explained in Up and Running:
1. Type of contact–how warm or cold is it? How much trust has been established?
2. The agent’s sales skill, competency, and tenacity
3. The market–buyers and sellers are more hesitant to ‘turn themselves in’ today
How can you tell the numbers it takes? Track your numbers for each target market and track your and conversion rates. Now you know the specific work it takes for you to generate a lead, create an interview, work with buyers and sellers, and get sales results.
The problem: Most agents work way too few lead generation numbers and sources. In fact, they have so few, it’s impossible to extrapolate ratios. That’s why Up and Running and On Track To Success in 30 Days System have such big numbers–it’s an insurance plan.
What are your lead generating ‘conversion’ numbers? If you don’t know, find out now, so you can either increase your lead generation or sharpen your skills to reach your goals.
