75% of Online Leads Get Ignored, Study Finds

May 31, 2011

Real estate agents are ignoring or responding too late on nearly 75 percent of customer leads that come to them via online channels, according to a secret-shopping study by PCMS Consulting and One Cavo.

In its ongoing study, the companies are evaluating the response rate by large multi-office brokerages--both independent and franchised companies--of Internet leads from customers. They’ve completed 715 web forms at 56 different companies to test the response rate. Half of the leads were agent specific; the other half were IDX.

The study, so far, has found that nearly 50 percent of agents did not respond to the Internet leads and 46 percent of the inquiries went unanswered. Plus, 23 percent of those leads that did receive call backs, on average, came 8 hours after the forms were submitted.

“Today’s Internet consumer is expecting a response certainly within the hour but, more likely, within 15 or 20 minutes,” says Bradley Miller, One Cavo founder and president.

Jose Perez, founder and chief visionary for PCMS Consulting, says the lack of response is a huge mistake by real estate professionals, which is likely costing them business.

“Unfortunately, too many companies have no real system or accountability and leads fall through the cracks amounting to lost profits that few can risk in this environment,” Perez says.

Source: “Nearly 75 Percent of Online Generated Real Estate Leads Are Lost,” RISMedia (May 27, 2011)