A study done by Lead Simple found that 80% of agents give up their follow-up efforts after the 3rd attempt. However, 95% of leads don’t convert until the 2nd-12th attempt. This means that if you aren’t re-engaging your leads long-term, you are not only growing a list of cold leads, but missing out on a lot of business.
We spoke with Dan Armstrong, a Team Leader for Keller Williams Legacy in San Antonio, Texas who was faced with a growing amount of cold leads and overwhelmed agents. Dan spoke to us about overcoming the struggles his team faced and how they now balance the continuous re-engagement of old leads and engagement of new leads.
“We were getting a lot of leads and a lot of agents were discouraged because the leads weren’t ready to buy or sell and they weren’t engaging with the agents, so we were having a lot of turnover. When agents got overwhelmed and couldn’t keep up with the leads they would turnover. I was sitting on thousands of leads and there was no way to qualify these leads without wasting a lot of time,” Dan said.
“I have tried over 4 inside sales agents and it never worked out. It takes a lot of work and tenacity for an ISA to call leads that don’t always want to talk to them and they would get discouraged. They were enthusiastic the first few weeks, but then they would just give up. We’ve never been successful with any human doing inside sales. The amount of work and money that went into hiring and training an ISA just didn’t add up,” he continued.
Dan knew that if he was going to retain his agents and grow his team he needed a solution that could handle all the leads, both new and old.
With his new AI Assistant being able to engage leads in under 5 minutes and also re-engage cold leads, the solution was perfect for Dan and his team. After connecting the assistant to Zillow to engage incoming leads and sending over a list of 2,500 cold leads for the assistant to re-engage, a weight was lifted off his shoulders. “Onboarding was very easy and very quick and we had no hiccups whatsoever. Right off the bat the assistant connected with a lead and closed them,” Dan said.
“The very first lead that the assistant engaged was late on Sunday and the agent that was assigned was not available. The assistant had a conversation with the lead all throughout the night, and by Monday morning she was ready to see a house and then we closed on that deal,” Dan continued.
Since hiring his new AI Assistant, Dan has not only been able to hire more agents and decrease his turnover but having the assistant re-engage cold leads on top of new leads has opened up huge growth opportunities for them.
“Not only are you able to engage our new leads but re-engage our old leads and that's worked extremely well. In a week, the AI Assistant has already brought 7 cold leads back to life. Those were the leads that multiple agents had tried to contact. Those were the leads that were so hard to convert because it’s taken 4-5x to engage and the agents didn’t have the patience to follow up with the lead 5x until they got an answer,” Dan said.
“Our lead volume has increased and over 6 appointments have been scheduled. We were getting about 30 leads a month and now we are getting more new leads and old leads that the assistant is re-engaging. Just with the old leads, she is able to get re-engagement from at least 1 lead a day. We’ve had multiple agents contacting the list of old leads and we haven’t had anything close to the success that the assistant has had. Even the one sale that the assistant was able to get is already covering my lead spend for over a year. I could never pay someone the amount I pay the assistant and get the results,” Dan continued.
Not only is it important to engage your new leads but being able to continuously follow up when they go cold is the key to success. Dan said it best, “all of our leads aren’t responding to the first text, they are responding after the 3-4x and then all of a sudden they start engaging and talking about financing and how many beds and baths they need. Even if all the agents were texting everyone on their list, I see now that it’s not enough just to do it 1-2x. When I look at the AI Assistant’s conversations, she’s continuously following up and leads aren’t responding until 3 days later. It's never immediate.”
Are you ready to spend more less time qualifying and more time closing like Dan Armstrong? Sign up for a personalized demo below!
The Challenge
The Solution
"I was found sitting on thousands of leads and there was no way to qualify these leads without wasting a lot of time."
"Right off the bat the AI Assistant connected with a lead and closed them."
"In a week, the AI Assistant has already brought 7 cold leads back to life."
The Results
CRM:
Location: San Antonio, Texas
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