Maximize Your Lead Conversion: Insights from Experience

By Greg Harrelson

Greg Harrelson is the founder and leader of the largest Century 21 offices on the East Coast. With offices located throughout South and North Carolina, Greg coaches the top real estate talent in the Carolinas and also founded Real Estate Sales Solutions which has coaching programs like the Agent Success Academy.

Are you struggling to convert your online leads effectively? Years of experience in lead management have revealed certain truths about online lead conversion. Having managed a CRM containing over 400,000 leads and leading a team that regularly engages with thousands of them, I’ve identified seven key insights grounded in this extensive sample.

Here are the seven essential truths of online lead conversion that can significantly enhance your success in turning prospects into loyal customers:

1. Your Next “New” Lead Is Someone Else’s Old Lead. The reality is that finding a truly “new” lead is rare. In most cases, the lead that sparks excitement has likely been in the hands of another agent before. Understanding this can completely reshape your approach to lead conversion.

2. Your Old Leads Are Someone Else’s New Leads. The leads that have lost their appeal are often seen as valuable by another agent. This cyclical nature of leads emphasizes the importance of continuous engagement with every lead in your database.

3. The Overwhelming Volume of Leads. The real estate industry generates around 1 billion leads annually in the U.S. despite a population of only 330 million. This staggering statistic explains why many leads aren’t “new” but are being recycled among agents repeatedly.

4. Conversion Rates: A Hard Pill to Swallow. Audits of thousands of leads across various sources reveal that the potential conversion rate is around 10% to 11% within 18 months. However, the average agent converts far less than 1% of their leads. Top-performing agents typically see 2% to 3% conversion rates, and those hitting 5% to 6% are exceptional. Be cautious of claims of significantly higher rates, as they may be based on selective data.

5. Dead Leads Are Only Dead to You. Leads that appear unresponsive aren’t necessarily disengaged; they’re often actively interacting with another agent or platform, like Zillow. What seems like a dead lead could be very much alive for someone else.

6. The Importance of Persistence. There’s a direct correlation between the number of follow-up attempts made and the number of appointments set. Persistence often proves more important than the lead source itself, and this is where many agents falter.

7. Don’t Be Stopped by Smoke Screens. Agents often get halted by smoke screens—excuses that leads give, such as claiming they didn’t mean to click on something. It’s important to recognize these as deflections rather than valid objections. Nobody “accidentally” fills out a lead form with all their details. By pushing past these smoke screens, success becomes much more attainable.

Ultimately, there’s much more conversion potential than is often realized. The key is to stay persistent, avoid giving up too soon, and consistently re-engage with the database. When leads begin showing signs of life, take action immediately—don’t just observe, but engage actively.

However, successfully implementing these strategies requires expertise and careful execution. If you’re ready to transform your lead conversion rates and see actual results, don’t hesitate to reach out at (843) 457-7816. Call me now to start the conversation.