- How many leads should I provide my agents?
- What's the right balance of lead volume for my team?
- I can't handle my leads. What am I doing wrong?
Thousand upon thousands of leads — We all want them, but do we really need them? A lot of times, teams and brokerages stretch too thin in terms of lead generation and lead management. You want to make sure you have a happy medium that keeps you and your agents happy. So, in today’s video, we’re going to discuss how to find that balance between lead generation and lead management.If you’re a BoomTown user with a question about this video, please contact Support.
Would you be able to tell me if I asked you how many new leads your team should be receiving this month? If the answer to that question is “no” then listen how you could be saving yourself some cash. If your agents have too many leads, then it’s like a squirrel stashing away nuts for winter and then completely forgetting where the nuts are! You’re buying leads that will never be properly followed up with and ultimately, will never close.
Being able to determine how many leads is right for your team means you’re going to need to do some research. You’re going to need to find the ratio of how many leads an agent needs to get an appointment and then how many appointments he needs to get to a closing.
So, for example, if you know that your agent closes one deal out of every 5 appointments, then how many qualified leads does that agent need to get those 5 appointments? Other variables you need to take into consideration is each agent’s conversion rate, the amount of leads in their database, and how much time they will be dedicating to prospecting.
Knowing this information will not only save you money, but also will save you from having agents frustrated with the size of their database. It will allow you to build and adhere to a follow up process. So, please take the time to work on these numbers and implement this strategy. You’ll be glad you did!