Eight Best Marketing Practices to Fund New Loans Faster

Join our expert panelists to learn which best marketing practices will help you get to your customer quickly with your best offer – and win their business for another loan term.

engage.marketing event: All eyes on purchase

To help power your business forward, we’re bringing together the smartest minds in purchase mortgage marketing to share the insights, tactics and strategies that set leaders apart.

Behind the executive exodus at Fannie Mae

What's behind the wave of executive departures at Fannie Mae? It's not just money, according to former employees of the GSE.

2021 Agent Rankings now live

Today RealTrends + Tom Ferry announce the 16th annual The Thousand of America's top 1,000 real estate sales and professionals and teams.

Real EstateFintech

What conversion rate should real estate agents expect when they purchase leads?

Here's what real estate agents can do in order to get the most bang for their lead-generation buck

No matter how experienced a real estate agent is, he or she relies on leads for business growth. And, since a National Association of Realtors survey showed that 53% of buyers in 2019 used an agent that was either referred to them or was someone they used in the past, that means that about half of all buyers (47%) are available to any agent willing to compete for them.

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Robyn A. Friedman
HW+ Columnist

But industry professionals report that there’s a misconception among agents about conversion rates. “There’s a preconceived notion in the industry that when a consumer crosses the anonymity barrier online – they’re interested in a property and want to receive more information – the expectation is that 100% of those consumers are going to be ready to purchase or sell within a matter of days or weeks,” said Prem Luthra, CEO of Elm Street Technology, a real estate technology and marketing solutions provider based in Dallas. “What we typically do to manage expectations on behalf of our lead generation customers is to tell them that if we generate 30 leads for you in a given month, you should expect anywhere from 1% to 3% of those leads to do some sort of transaction within 120 days.”

What about the other 97% to 99% – the consumers who expressed interest but aren’t ready to purchase right now?

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