How to Effectively Manage Your Leads to Track the Best Sources of Business


Let's get into buyer lead management. This is the pipeline part of what we were discussing earlier and this 100% is where the money is made in real estate. The fortune really is in the follow up.

None of this stuff is rocket science, but it's everything I use in my business as far as lead management goes.

Lead sourcing is critical, so we recently revamped our lead source codes. In your Google Drive is the "Sources of Business" document, which shows you where our business come from. Let's run through it real quick.

We went to a 3-number system to denote each of our buyer lead sources. We have the 100 series, 200 series, 300 series, and so on. The 100 series are buyer internet leads, specifically BoomTown, where the bulk of our business come from. Our yard marketing is the 200 series, and we have three different kind of signs.

We have 2 radio stations, which we track separately. I was able to cut $3700 a month in one of these stations because I found it wasn't working as well.

Inbound and outbound expired's and FSBO's. When we talk about Inbound, we're talking about when someone contacts us from a piece of mail vs. us doing outbound dialing, which we are starting to ramp up again.

RFC is raving fan club, the effort the company takes to generate referrals and business from past clients.  The 600 series is our "Go for No", which is our staff bringing business to the company.

I do one small farm in my neighborhood, and we track customer referrals as well, but they aren't big business for us.

This is super critical. If you don't have this in your business yet, you've 100% got to do it.

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