How To Achieve a 78% Response Rate from Rightmove Leads
If you’re like most estate agents, you’re paying hundreds, if not thousands of pounds per month, per office, to advertise your properties and your agency with RightMove, Zoopla, and other property portals.
Most estate agents report response rates of 20–30% from these leads, meaning that these leads are usually generating just enough value to justify their cost. Imagine how much more profitable your Rightmove subscription would be if, instead of a 20–30% response rate, you could generate a response rate approaching 80%.
If you’re consistently getting response rates around 20–30%, here are three steps you can take to dramatically increase your response rate:
On average, estate agents respond to online leads within 48 hours, if they respond at all. Amazingly, our own research shows that approximately 40% of online leads are never responded to at all.
When you respond to leads as soon as they send you an enquiry, you benefit from being top of mind. Leads are delighted that you’ve gotten in touch with them so quickly, and they are focused on the task of finding a property. Research suggests that the first estate agent to make contact is the one most likely to get the sale.
Reach Users Where and When They’re Looking
According to RightMove, 67% of time spent on the site is from users on a mobile device. RightMove gets 45 million customer visits per month, and both their Android and iPhone apps have several million installs each.
Data from our estate agency customers, shows a measurable uptick in online enquiries during the lunch hour, on weekday evenings and on weekends.
Combining these two points indicates that the majority of online leads will originate from a mobile device when you are not in the office.
Placing a phone call, or sending an email, to the lead the the day after they submit their enquiry is very unlikely to result in a high response rate. To achieve a high rate of response, you must engage your leads when their property search is top of mind, on a device that they are already engaging with.
Be Authentic, Be Personal
On top of responding slowly, and via the wrong medium, many estate agencies make the mistake of responding impersonally. In a review of estate agency responses that we conducted, we found that 6% of agencies use an auto-responder to respond to customer leads, but never follow up. A further 9% respond by asking users to join their mailing lists, decreasing lead conversions and potentially alienating leads. Finally, an impressive 23% of agencies responded via email with massive attachments, some as large as 50MB!
It’s not surprising that response rates for online leads are so low, estate agencies make it difficult for leads to respond at all!
To engage a lead in a way that is most likely to result in a response, here are a few simple steps:
- Address the lead by name, and include information about the specific property they inquired about
- Ask them questions to let them know that you are working on their behalf. Questions can be as simple as asking when they’d like to view the property, or they can be used as lead pre-qualification, but the goal is to get the initial response
- Have a conversation. When the lead responds with questions of her own, acknowledge the questions even if you can’t answer them immediately, and let the lead know that you’re working to get them a timely response.
- Be available when they need you. Often times leads will respond hours or days after first contact is made, or even after the initial conversation has been completed. Many times they will have additional questions or need to make a last minute change. Respond quickly, perhaps referencing something from a prior conversation, and let them know that their requests are being taken care of.
Bonus Step Four — Follow Up Intelligently
Many estate agencies fall into one of two camps. Either an agent will never follow up with a lead if they don’t respond, or they will add them to a general database and spam them daily with information on properties that the lead has shown no interest in. Neither of these approaches lend itself to good response rates.
A small, but significant number of leads don’t respond to an initial engagement, requiring one or more follow-ups before they respond. If you follow the steps laid out above, using timely and personalised messaging, coupled with quick, conversational responses, you’ll be able to improve your response rates even further.
Whether your agency get 10 leads per month or 200, following these steps will drastically improve the number of leads that covert to customers. Following these steps has helped Olivia’s customers achieve an average initial lead response rate of 78%.
Olivia is an intelligent concierge software backed by human beings. For as little as £79 per month, we respond to all of your online leads via text message, with live agents, in under 5 minutes. Olivia provides your agency with a 24 hour point of contact for your leads, tools to write personalised scripts that customise the conversation to your agency’s needs, as well as automated follow-ups which are answered by live agents.