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Jun
24

Coaching: How Much Lead Generation Does Your Agent Need to Do?

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You’re the coach. You’re helping that seasoned agent re-energize his/her business. The agent asks you,

“How much lead generation do I HAVE to do, coach?A�”

What do you tell the agent? I have a strict, preciseA�lead generating plan with ratios of success in Up and Running in 30 Days. I also have a plan for the seasoned agent in On Track to Success in 30 Days System. But, it’s not quite that simple.

Three Variables to Keep in Mind

I wish I could give youA�one tight, proven formula. There are variables that make specific formulas difficult to pin down.

Success by the Numbers

A�I set the expectations for the Up and Running in 30 Days business start-up program based on my experience on the number of contacts it takes to get a lead, then a sale. But, it also depends on several variables, as explained in Up and Running:

1. Type of contact–how warm or cold is it?

How much trust has been established? The warmer the contact, the more trust is already there. So, it takes less contacts in a ‘warm’ target market (like people you know or past clients) to convert to a lead, than to a ‘cold contact’. For example, the Internet marketing companies say it takes 200 contacts to equal one sale.

2. The agent’s sales skill, competency, and tenacity.

How good is the agent at opening sales conversations? How good is the agent at finding out needs? Asking insightful questions? Listening? Guiding the conversation with focus toward a goal of moving the sales process forward? The better the agent is at sales skills, the easier he/she will find it to sell–and the betterA�the lead and conversion ratios.

3. The market–buyers and sellers are more hesitant to ‘turn themselves in’ today.

Sales skills come back into play here. It’s not a market where people just fall all over themselves to buy and sell real estate. You have to have skills, tenacity, and competency.

How can you tell the numbers it takes?

Provide a tracking process as you coach. (There are tracking Excel spreadsheets with goals and ‘actuals’ in both Up and Running and on Track). Set up goalsA�for each target market and trackA�the agent’sA�conversion rates with him/her . Now you know the specific work it takes forA�the agentA�to generate a lead, create an interview, work with buyers and sellers, and get sales results. Armed with those numbers, you can customize a program like Up and Running.

The problem: Most agents work way too few lead generationA�numbers and sources. In fact, they have so few, ita��s impossible to extrapolate ratios. That’s why Up and Running and the four -week regeneration plan in the On Track to Success in 30 Days System (for seasoned agents) have such big numbers–it’s an insurance plan.

Getting to the Finish Line

What your agent needs to succeed: Tenacity, a business generation plan, and action. Help each agent set A�goals and keepA�accomplishments. Analyze them. Point out their best sources of business and help them work them with consistency. Teach classes and have them practice and polish sales skills. Remember, you are helping each agent, one at a time, develop an enviable career.

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