“I skate to where the puck is going to be, not where it is.”
– Wayne Gretzky
When it comes to the topic of lead generation, don’t you think the time has come for a change? I mean so many companies promise to provide leads, but in reality, it’s more accurate to say they are just providing lists. Maybe it’s more accurate to call this list generation, not lead generation. Don’t get me wrong, they are providing leads, but without them being thoroughly vetted and verified, it just means you have some serious leg work you need to do. We’re all so busy, do any of us have the time to call and validate these leads? Add to that the statistic that 50 percent of online leads do not convert into customers for 12 to 24 months, and it makes the process seem daunting.
A recent Housingwire article about the cost of leads put the average per lead cost at $55 with many of the top producing agents averaging $10,000 per year to organizations like Zillow. That’s a high price to pay for the homework assignment of digging through lists of leads to find the diamond in the rough. It’s no wonder why articles in the industry are always written about the feeble follow up on leads by Realtors. There are always two sides to an argument, and I for one, can understand why the follow up is so inferior, that’s a lot of combing through data to get to find the valid lead.
However, with the advent of big data analytics, a change is coming. Adding in the Artificial Intelligence aspect to analyzing the data that I’ve discussed in other blog posts, we are going to see an improvement on leads delivered. Currently, 90 percent of homebuyers are foregoing the assistance of a real estate professional when initially searching for a home. It’s a matter of finding that “likely” buyer or seller at the time when they are ready to engage a Realtor. That is where the evaluation of the big data by an Artificial Intelligence engine can predict with far more accuracy the probability of the customer being primed and ready for help. In fact, with Keller Williams and Realogy announcing partnerships with A.I. solutions, a shift is on the horizon. These large firms can and will build products that improve lead conversion at scale. This presumably will drive down the costs of leads, which is good news for all Realtors out there. There are solutions out there beyond those that these large brands are affiliated with that have a breadth of experience and knowledge. If you are a Lender or Realtor, knowing who to turn to in these times is a key to the difference between your leads turning into deals.
As such, I’m proposing a new definition and category shifting the title from lead generation to deal generation. Much like the quote from Wayne Gretzky, it’s time for lead generation to go where the puck is going to be, not where it is. A good shake-up in this industry happens now and again, and it’s about time that the realm of lead generation is subjected to such a change.
We are on the lookout for a few visionary game-changing Realtors and Mortgage Brokers who want to be part of this revolution.
At Likely.AI we have spent the past few years perfecting the analysis and delivery of Likely Sellers. Our mission is to become the real estate industry ecosystem Artificial Intelligence modeling partner. Using our unique machine learning models, we deliver vetted and validated leads that have a higher likelihood of becoming a deal than others in the industry. We believe so much in the accuracy of our models that we are willing to put our money where our mouth is. With only a nominal license fee to cover our costs, we instead tie our revenue model to a percentage of the closing. In other words, our success is predicated on your success. We don’t make money unless you make money. Thus, allowing you the real estate professional to maximize your profits by partnering with Likely.AI who will can and will provide you with Likely Sellers in the your market.
Unlike most blog posts, I’m putting out a call to action. We are actively looking for a few select visionary real estate professionals to take part in the future of real estate “deal generation.” For a FREE no-obligation consultation contact us HERE
From predictive modeling and complicated algorithms to deep learning and artificial intelligence, Likely.AI is a new-age lead generation tool which is changing lead quality expectations by identifying consumers’ likely real estate decisions before their decisions have been made. To learn more, contact Likely.AI here.