Something hit me recently. You can call it a revelation, an epiphany, or just a moment of total clarity. Regardless of what you call it, my view changed regarding leads. Please hear me out.
Recently, I was at a renowned Real Estate conference in New York City and heard quite a bit about leads. In 2018, 5.34 million existing homes were sold. This number is not anything unusual, given this has been the steady average for the past ten years, if not more. However, the astounding number is the sheer volume of internet leads per home sold. This number has been on a rapid increase in year-over-year, hitting 200 in 2019 and looking to only be more in 2020.
There are hundreds of companies getting into the lead cultivation and distribution space. But as I had written in a previous blog, “Lead Generation? The time has come to drop that ‘tired’ term…” these companies are just provided lists. Unfiltered and unanalyzed records of people in a given area that you should call upon. These are about as effective as if I dropped a phone book on your desk and told you to call people in the area to see if they are ready to sell. It reminds me of my early days doing telemarketing — not a fun experience for anyone.
Culturally we’ve become addicted to vanity metrics. Social media’s influence has gotten people convinced that likes, downloads, raw page views, and registered users will translate to actual sales. Nothing could be further from the truth. What we need are real metrics that turn into home sales.
So, what was the revelation, you ask?
Here it is: Cost per lead is no longer your problem with the number of transactions being the same and the number of leads ever increasing. Current estimates have it at around 200 million leads for 5 million transactions. That is 400 online leads for each transaction!! That’s insane! The challenge you have is refining your leads and seeking out partners and organizations that are scrubbing, analyzing, and clarifying these lists — in other words, seeking out quality over quantity. Just because a company charges you for a list of 500 names in a given area to call upon, doesn’t mean that this list has been filtered to people who are likely to sell their home.
That is where Likely.AI is different. Using our patented Artificial Intelligence system, we analyze our lists with hundreds of data points refining, filtering, and narrowing the scope to provide unparalleled leads. This way, it is no longer your job to find the proverbial “needle-in-the-haystack.” We will do that work for you.
Cost per lead is no longer your problem. Moving forward, it is all about cost per conversion. Your time is your most valuable asset and not a renewable one. It is the universal and finite resource that is limited for all of us.
The National Associate of Realtors disclosed that the rate of close on leads is between 0.4% and 1.2%.
With properly analyzed and defined leads, you can get ahead of this statistic and find the “Sellers” of properties before anyone else.
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 ecosystem’s Artificial Intelligence modeling partner. Using our unique machine learning models, we deliver vetted and validated leads (aka Likely Seller) 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 some of 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 your market.
From predictive modeling and complicated algorithms to deep learning and artificial intelligence, Likely.AI is a new-age lead generation tool that is changing lead quality expectations by identifying consumers’ likely real estate decisions before their decisions have been made. To learn more, you can contact Likely.AI HERE.