A real estate agent breaks down why online seller leads don't work. Most agents won't convert them, and social media ads deliver poor quality prospects with low closing rates.
This is going to be awesome and I'm going to try not to come down too hard on you. He receives, he's saying 400 potential seller leads a week. Homeowners enter their address in Property Valuation Tool but don't complete sign up. You get a lot of signups too. Curious as to how you would handle potential seller leads that only receive the address someone researched. I think online seller lead gen hasn't been proven yet. I don't think that I pretty much know that. And so most of it is done on like social media advertising. So let's pull up Facebook and let's see random person on Facebook. Right. Let's go to my newsfeed here. So your ad's gonna come up somewhere and it's going to say free online home evaluation. Right? This one. Yeah. So here's an ad. It looks like this in an ad. So learn more. So free online home evaluation. You click onto this for a free line of free online home evaluation. It has no bearing. I think not. No. But very little bearing on that. They actually want to sell their home. And people that land on your home eval site and don't fill it in are more garbage than the leads that do fill it in. So here's. And people have likened it or want to liken it to buyer leads. Like yeah, these are no worse than buyer leads we get. Most teams at best get a 2 to 3% conversion on buyer Internet leads. It's a grind. You got to stick with it. You can get 3 to 5% if you totally master it. And people say yeah, you know, probably seller online lead gen is going to be the same conversion rates. There's no freaking way that I would say someone searching on Facebook that just happens to want another home value is as motivated a buyer as someone seeking out a website to search for homes. So I think your conversion rates are like 0.2 to 0.3%. I think it's two or three out of a thousand leads you generate would ever give you a commission check. And I think finding those two to three out of a thousand you'll have to have a full time person doing lead scrubbing and calling and emailing and putting into email drips and maybe even doing direct mail to where I think the returns are minimal for the investment of time and energy. And I'll say that as long. But I'm looking, I'm always, I'm not close minded about it, but I just don't think they're leads. I think everyone that does it should wait until someone proves it out. So I think most of you should drop it. If you're doing it. Complete waste of time and money. That being said, we've got a couple people that through their sync platform, they do pretty well with the seller leads that are generated there. But overall, nine out of 10 agents will not make that work. Probably 95 out of 100 won't make it work.
