How do leads make agents happy?

Leads are the fuel of your real estate business. But can leads really make you happier? We have found that, overall, the answer is yes. The more leads agents get, the more likely they are to be happy. We realize that answer might seem surprising if you've recently had to deal with rude leads, leads ignoring your calls, or leads forever "still-thinking-about-it"! 

Market Leader conducted a survey of real estate professionals to find out what drives agent happiness. One of the top contributing factors to agent happiness was leads. We found a direct correlation between the number of leads agents generate and their happiness with their real estate careers.

Why do more leads equal more happiness?

Well, the answer is simple: more leads equal more business, because leads are opportunities to sell more homes. The more transactions you make, the more money you earn, which—according to the same survey—increases the likelihood that you will be happy with your real estate career and life in general. We found that getting 50 or more leads per month made agents 32 percent more likely to be happy with their real estate careers compared to those agents who reported having no leads.

Not only were those generating more leads more likely to be happy, they made more money at real estate as well. We also found that the agents who reported having 50 or more leads per month were 152 percent more likely to be a top earner and make over $100,000 per year.

How can agents get more leads?

So how do you get these desirable leads? Options range from the obvious to the less well-known and, unfortunately, all lead sources are not created equal. Lead generation methods vary in cost, time, and the quality of leads they deliver. We also found that lead sources have varying effects on agent happiness.

Referrals

Referral leads make agents very happy. A referral lead has already had a friend or someone they trust tell them how great you are and, thus, they are more likely to be interested in working with you. It’s no wonder that agents who get leads from referrals are more likely to be happy! In fact, according to the survey, agents who get leads from referrals are 26 percent more likely to be happy in their real estate careers than those who don’t get any from referrals.

If you want more referrals you should…

  • Provide excellent service to your clients. They'll have no incentive to refer you if you don’t.
  • Don’t lose track of past clients. Set them up in your CRM/contact management system on a drip email campaign with interesting and relevant content to keep them engaged.
  • Ask. Don’t be afraid to ask your clients for referrals throughout your various contacts with them.

Personal website leads

Referrals are pretty obvious as a great source for leads and happiness. But agents who generate the majority of their leads from their personal websites are also more likely to be happy with their careers than the average agent. The survey indicates they are 11 percent more likely to be happy.

Website leads are particularly good ones because they have been introduced to you after reading your site and finding that you are offering them a valuable service, like helping them find desirable properties in their area. They have also made the effort to give their personal contact information to you, so they are more likely to know who you are when you follow up.

To get more leads from your website you need…

  • A website with lead capture that prompts your visitors to register.
  • Compelling content for home buyers and sellers. That means you need an MLS/IDX feed, with up-to-date local listings that will meet your visitors' needs.
  • Links pointing back to your site on all your marketing materials and social media profiles on the Web.
  • An integrated CRM/contact management system that will immediately capture and save lead information from your site.

Leads from broker or franchise website

About half of the agents surveyed were receiving no leads from their broker or franchise website. That might not be such a bad thing. We found that agents who receive the majority of their leads from their brokers’ website were less likely to be happy than agents who receive most of their leads from any other source. When we dug a bit deeper, we found that the ideal situation for agent happiness and income is to receive some leads from the franchise website, but not the majority from that source.

Ideally, agents should diversify their lead sources and get leads from as many sources as possible. We found that agents who secure leads from multiple sources—including referrals, their personal websites, social media, online lead generation, networking, and their broker websites—were 25 percent more likely to be very happy with their real estate careers than agents who secure leads from less diversified sources.

The link between leads and happiness

Overall, while gathering a higher number of leads is likely to bring you more transactions, getting leads from a variety of people and places is important for both success and your happiness.

If you would like information on quality lead resources and lead-generating options, Market Leader can help. Check out our Million Dollar Pipeline Program to learn how to expand your business through exclusive leads and advanced training opportunities.