Portals have perfected the art of creating home buyers out of thin air

Hello lead fatigue

Unfortunately the hard work of actually qualifying the incoming stream of leads is left up to the agent. This can be time consuming as portals (and other sources) can contribute to ‘lead fatigue’ where agents have to follow up with more leads than they can handle in a day. It can get difficult to prioritize and can cause the lead with the best conversion potential to be left diluted in the pool. Agent assistants are appointed to assist with all these would-be buyers. Small teams within agencies are now popular as it leaves the main agent to stay focused on the ‘real’ buyers. Real buyers are in effect paying the price for the would-be buyers. Some agents do pre-qualify buyers or tenants before committing to any viewings but it still leaves an admin overhead.

The law of diminishing returns

When a particular lead source works well for your business, you can easily be tricked into spending more and more in the believe that your leads from that source will increase in proportion. The law of diminishing returns refers to a point at which the level of profits or benefits gained is less than the amount of money or energy invested.

Enter the portal concierge service

US portal Zillow saw the opportunity and launched a concierge service for its Premier Agents, first qualifying the lead and then passing it on to the agent:

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Adriaan Grové

Adriaan Grové

I’m the CEO of www.entegral.net, I love working with my remote team to solve real estate problems. Questions everything.