Which leads are the best leads? We’ve ranked the most effective to the least effective based on our own experience.
Are all leads the same?
No—the quality of each lead will vary depending on where it came from. Qualifying that lead can change how important it is as well. Based on my experience and the experience of the fellow agents in my office, here are five lead sources ranked from most effective to least effective.
The very best lead you can get is someone you know—someone who knows you, likes you, and trusts you.
The second-best lead is a referral from someone who knows, likes, and trusts you. They’re putting their name to your name. Whether they worked with you or know you from the past and know that they can trust you, those clients will be gold.
The third-best lead is a sign call from a listing. Those are buyers driving through neighborhoods and looking to buy a house right now. These buyers are frustrated—homes are moving quickly in our market, and they’re calling agents because they want to get into those homes. These leads will be a ready, willing, and able buyer 90% of the time.
Make sure you track the conversion of your own leads so you know which ones are your best.
The fifth-best lead is cold calling or outbound prospecting, including FSBOs, expired listings, and circle prospecting around a listing. These are still good leads if you know how to work them and track them.
Make sure you track the conversion of your own leads so you know which ones are your best. If you have amazing phone skills, for instance, and you’re better at converting people off of circle prospecting and open houses than you are at other lead sources, do what works for you.
Sort your leads, follow up with them in the order that’s working for you, and sit down at the end of each quarter and find out what your conversion rate is. That’s what counts.
If you have any questions about tracking or generating leads, don’t hesitate to give me a call or send me an email. I’d be happy to help you.
