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Shocking Real Estate Sales Stats That Will Change How You Do Business

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real estate sales statisticsIt's so important to take the time to think and put ourselves in the shoes of our customers rather than thinking like a realtor and what we need and want all the time. This week we look and see the trends of our customers and how to model what they want and need from us. So let’s get started….

#1.) Follow up web leads and make contact with them in under five minutes (speed to lead). We know 50% of sales will go to the first person to make contact with them and the agent that makes at least 6 follow up contacts has a 90% higher chance of getting a response and chance of converting the online lead. (Source )

#2.) The best time to make email contact with a customer is at 8:00 A.M. in the morning and 3:00 P.M. in the afternoon. ( Source GetResponse)

#3.) The best time to make follow up phone calls with a customer is between 4:00 P.M. and 5 P.M. in the afternoon. Second best time is between 8:00 A.M. and 10:00 A.M. and the worst times are 11:00 A.M. and 2:00 P.M. (Source

#4.) The following are the best days of the week to follow up with contacts. Thursdays are the best follow up and prospecting days. Wednesdays are the second best follow up and prospecting days and the worst day to follow up or prospect according to InsideSales are Tuesdays.

#5.) The owners of real estate and high probable home selling clients are using the social media site LinkedIn at least 6 hours a week. Are you? (Source Jill Konrath)

#6.) Back in 2007 it would take 3.68 cold call attempts until you found a client prospect and today it is taking at least 9 cold calling attempts to find a prospect and lead. (Source Ovation Sales Group)

#7.) The average real estate agent only makes 2 attempts and 45% only make one attempt to follow up a client lead and would increase their conversion rate by 9 times if they increased their follow up attempt to only 5 times. (Source Sirius Decisions)

#8.) Agents only have a 2% chance of converting a cold call to an appointment. Lesson is to stop making cold calls and make warm calls using new ways to reach the decision-makers. (Source Leap Job)

#9.) An average agent can make about 8 prospecting contacts per hour and prospects for 6.25 hours to set one buying or selling appointment. So remember the magic number for prospecting is 50 prospects to set one appointment. Are you making enough contact when you prospect? ( Source Ovation Sales Group)

#10.) The highest response rate of communication with consumers is a text and 97% chance of getting a response. Lesson is to make sure you have the customers cell phone number!! (Source GetResponse)

#11.) Nurtured leads have a 47% chance of making a large buying decision versus a non-nurtured lead. (Source Annuitus Group)

#12.) When communicating or making a sales presentation, Visuals are processed 60,000 times faster in the brain than text. Use visuals and don’t tell but show and sell! (Source Neo Mamallian Studios)

#13.) The most memorable part of all sales presentations for the customer is the last five minutes. So always end all your sales presentations with a bang!

#14.) 91% of our current and past customers say they would give a referral to an agent but only 11% of agents ever ask for a referral. (Source Dale Carnegie)

#15.) Each year agents lose 14% of their customers a year. The biggest reason is for not keeping in touch. Lesson is to keep in touch and always be prospecting. ( Source

So there you have it. Some crazy statistics and trends all agents need to be aware of and take action and implement new strategies to buck the trend! I dare you to take a few of these tips and implement and execute them and let me know how they impact your business in 2017?!

Strength and courage,

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My book, The Lazy Realtor, is available in Paperback or Kindle format, on Amazon. You can preview it here and I’ll even include these bonus items:

The 10 Step Buyer Process Guide

Low or No Cost Real Estate Marketing Tips List

The Internet Lead Conversion system

and much more...