HouseHunt, Inc.HouseHunt, Inc.

““HouseHunt Lead HouseHunt Lead Conversion”Conversion”

Recent StatisticsRecent StatisticsAgents who have embraced the Agents who have embraced the

Internet are making more money Internet are making more money than those who haven't. than those who haven't.

The Internet has changed the The Internet has changed the real estate industry in how real estate industry in how buyers and sellers can find buyers and sellers can find information.information.

The Internet has not replaced the The Internet has not replaced the real estate agent.real estate agent.

84% of consumers begin their search for real estate

on the Internet

Source 2002, 2006 NAR Profile of Home Buyers and Sellers

84%

37%

2%

18%

41%

71%

51% 51%

43%

41% 41%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

1995 1997 1999 2001 2003 2006

Internet

Newspaper

Only 6% of Agents who HAVE an Only 6% of Agents who HAVE an Internet Presence are making money Internet Presence are making money

from the Internetfrom the Internet

Successful6%

Unsuccessful94%

Why are Realtors failing to Why are Realtors failing to make money on the make money on the

Internet?Internet?

Don’t have systems to incubate the Don’t have systems to incubate the leads, creating a perception that the leads, creating a perception that the quality of leads are poorquality of leads are poor

Don’t understand the behavior of Don’t understand the behavior of the Internet Consumer or meet the Internet Consumer or meet consumer expectationsconsumer expectations

Understanding Internet Consumer Understanding Internet Consumer BehaviorBehavior

Before Contacting a RealtorBefore Contacting a Realtor

BehaviorBehavior InternetInternet TraditionalTraditional

Time spent considering Time spent considering purchase of home purchase of home before contacting before contacting RealtorRealtor

5.9 weeks5.9 weeks 2.1 weeks2.1 weeks

Time spent investigating Time spent investigating homes and homes and neighborhoods before neighborhoods before contacting a Realtorcontacting a Realtor

4.8 weeks4.8 weeks 1.6 weeks1.6 weeks

Source California Association of Realtors 2004 Internet vs. Traditional Home Buyer Study

Understanding Internet Consumer Understanding Internet Consumer BehaviorBehavior

After Contacting a RealtorAfter Contacting a Realtor

BehaviorBehavior InternetInternet TraditionalTraditional

Amount of time spent Amount of time spent with Realtor looking at with Realtor looking at homeshomes

1.9 weeks1.9 weeks 7.1 weeks7.1 weeks

Number of homes Number of homes visited with agent prior visited with agent prior to buyingto buying

6.1 homes6.1 homes 15.4 homes15.4 homes

Median home purchase Median home purchase priceprice $470,000$470,000 $350,000$350,000

Median IncomeMedian Income $168,540$168,540 $142,470$142,470

Source California Association of Realtors 2004 Internet vs. Traditional Home Buyer Study

Understanding Internet Consumer Understanding Internet Consumer

BehaviorBehavior Expected Response Time from Expected Response Time from AgentAgent

Response TimeResponse Time InternetInternet TraditionalTraditional

InstantlyInstantly 25%25% 2%2%

Within 15 minutesWithin 15 minutes 20%20% 0%0%

Within 1 hourWithin 1 hour 2%2% 10%10%

Within 2 hoursWithin 2 hours 3%3% 14%14%

Within 4 hoursWithin 4 hours 15%15% 14%14%

Within same dayWithin same day 19%19% 33%33%

Within 1 business dayWithin 1 business day 16%16% 28%28%

Source California Association of Realtors 2004 Internet vs. Traditional Home Buyer Study

RisMedia -Actual Realtor Response RisMedia -Actual Realtor Response TimeTime

Study “secret shopped” 5 agents from Study “secret shopped” 5 agents from 8 different companies.8 different companies.

40 emails sent to agents with detailed 40 emails sent to agents with detailed criteria. Specific part of town, price criteria. Specific part of town, price range, and time frame for move…. range, and time frame for move…. Pretty Qualified Leads yes?Pretty Qualified Leads yes?

RisMedia- Actual Realtor Response Time

•1st response – after 1 hour

•2nd response – after 5 hours

•3rd response – after 10 hours

•4th response – after 24 hours

•….36 emails were unanswered!

The Internet Waiting Room

Imagine letting someone sit in your lobby without addressing their existence. After a certain period of time, they would get up and leave, because of poor service.

According to an MIT study, the probability of converting an Internet lead decreases six times after the first hour, so whoever gets to that consumer first is going to win. By the way, they win 93% of the time, according to NAR.

NAR take on internet leads

NAR also tells us that only 7% of consumers are ready to buy within 30 days.

If you focus only on the “here and now” leads you will fail to capture a huge portion of your website’s traffic.

“You must plant your garden now to harvest a full crop later”

The Value of an Internet Lead Do this to train yourself...to train your mental and physical reactions so that you

don't automatically toss it out because that is all you know to do with it...because that is all you have practiced. It is all you know.

Instead of viewing every internet lead skeptically...treat it like gold.

Follow up with the client diligently, timely, and with respect.

Give them the information they require when they require it and work hard to make yourself THE resource that the lead thinks of when they need something.

Do this every time. Without fail. Every time.

Quick Response Is KeyQuick Response Is Key

3 solutions to solve quick response 3 solutions to solve quick response

problems when you may be out on of the problems when you may be out on of the officeoffice

1. Use your cell phone! Iphones, 1. Use your cell phone! Iphones, Blackberrys let you receive emails right Blackberrys let you receive emails right away. Respond!away. Respond!

2. Assistants can make immediate 2. Assistants can make immediate phone or email responses. HouseHunt phone or email responses. HouseHunt training courses are available to your training courses are available to your staff as well.staff as well.

3. Auto-responder: compose an e-3. Auto-responder: compose an e-mail that has a high quality, consumer mail that has a high quality, consumer focused message. Important that you do focused message. Important that you do not sound impersonal. Always be sure to not sound impersonal. Always be sure to check the spelling because the email check the spelling because the email may be good but misspelled.may be good but misspelled.

Common Information Common Information Provided by ConsumersProvided by Consumers

Phone/Email/Postal addressPhone/Email/Postal addressPhone/EmailPhone/EmailEmail Only (High Percentage)Email Only (High Percentage)

““Behind every email is a real person.”Behind every email is a real person.”

Checklist for Agent ResponseChecklist for Agent Response

1.1. Immediate Phone CallImmediate Phone Call

2.2. Personal EmailPersonal Email

3.3. Send listings through TIM or other Send listings through TIM or other systemsystem

4.4. Send hand written note and periodic Send hand written note and periodic RE infoRE info

5.5. Put prospect on periodic phone follow Put prospect on periodic phone follow up scheduleup schedule

Voice Contact ResponseVoice Contact Response

Introduce yourself and thank them for Introduce yourself and thank them for visiting your site through visiting your site through HouseHunt.com.HouseHunt.com.

Find out what information they need or Find out what information they need or want and how often they would like to want and how often they would like to receive it.receive it.

Ask them if it’s ok to keep in touch via Ask them if it’s ok to keep in touch via email for updates on your market, etc.email for updates on your market, etc.

Sample Voice Contact ScriptSample Voice Contact ScriptAgent: Hello this is ___________ I am responding to your request Agent: Hello this is ___________ I am responding to your request for Real Estate Information, do I have the right person?for Real Estate Information, do I have the right person?Prospect: Yes, I was just curious about homes in that area.Prospect: Yes, I was just curious about homes in that area.Agent: Great! Well I would like to thank you for visiting the website Agent: Great! Well I would like to thank you for visiting the website through HouseHunt.com and I would like to get any information through HouseHunt.com and I would like to get any information you need to you as quickly as possible. Now I can send you you need to you as quickly as possible. Now I can send you anything ranging from community reports to school information, anything ranging from community reports to school information, what information would you find the most helpful?what information would you find the most helpful?Prospect: Well, mostly photos and descriptions of listings.Prospect: Well, mostly photos and descriptions of listings.Agent: Great! And how often would you like to receive the Agent: Great! And how often would you like to receive the information? Daily? Every 3 days? Or once a week?information? Daily? Every 3 days? Or once a week?Prospect: Daily would be great. Prospect: Daily would be great. Agent: Great! Well the easiest way for me to get the information to Agent: Great! Well the easiest way for me to get the information to you is via email. What email address would you like to me to use?you is via email. What email address would you like to me to use?

Introductory Email ResponseIntroductory Email Response

(No voice (No voice)) Send introductory email thanking them for Send introductory email thanking them for

visiting site. Mention that you understand they visiting site. Mention that you understand they may not be ready to speak to an agent yet, may not be ready to speak to an agent yet, but that you will send them listings that match but that you will send them listings that match their criteriatheir criteria

Set them up to receive listings as well as a Set them up to receive listings as well as a marketing campaign through TIM or other marketing campaign through TIM or other automated follow-up systems. automated follow-up systems.

Sample Introductory EmailSample Introductory Email

Dear ______Dear ______

This is ________. I would like to thank you for visiting my This is ________. I would like to thank you for visiting my website recently through HouseHunt.com. I did try to reach you on website recently through HouseHunt.com. I did try to reach you on the phone but unfortunately the number I received was incorrect. I the phone but unfortunately the number I received was incorrect. I understand that it might have been a type error or that you may understand that it might have been a type error or that you may not be ready to speak with an agent yet. In any case, my goal is to not be ready to speak with an agent yet. In any case, my goal is to provide you with the information you need as quickly as possible. provide you with the information you need as quickly as possible.

I am planning on sending you listings that include photos I am planning on sending you listings that include photos and descriptions of various properties. Please feel free to contact and descriptions of various properties. Please feel free to contact me anytime via phone or email if you would like to change your me anytime via phone or email if you would like to change your search criteria or if you prefer I stop sending them to you. search criteria or if you prefer I stop sending them to you.

Have a great day!Have a great day!

Sample Follow Up EmailSample Follow Up Email

Dear __________Dear __________This is __________ again just wanting to see how you are This is __________ again just wanting to see how you are

liking the information I am sending you. Are you getting everything liking the information I am sending you. Are you getting everything you want to see? Would it be helpful if I sent some information you want to see? Would it be helpful if I sent some information from other areas as well? Please feel free to let me know and I will from other areas as well? Please feel free to let me know and I will be happy to provide more information.be happy to provide more information.

Just so you know, I will continue to send you listings Just so you know, I will continue to send you listings based on the information you sent to me until you either change based on the information you sent to me until you either change your search criteria, or ask me to stop sending them.your search criteria, or ask me to stop sending them.

Thanks again and have a great day!Thanks again and have a great day!

What is a Bogus Lead?What is a Bogus Lead?Definition of Bogus: “Counterfeit” or “Fake”Definition of Bogus: “Counterfeit” or “Fake”

- With HouseHunt, there is no such thing - With HouseHunt, there is no such thing as a fake or counterfeit lead – only shy or savvy as a fake or counterfeit lead – only shy or savvy Internet visitors.Internet visitors.

- HouseHunt does - HouseHunt does NOTNOT control how an control how an internet consumer decides to fill out an online internet consumer decides to fill out an online form.form.

- We - We CANCAN encourage a genuine response encourage a genuine response from Internet visitors.from Internet visitors.

Non-Productive LeadsNon-Productive Leads- Test LeadTest Lead

A test lead comes from either a HouseHunt A test lead comes from either a HouseHunt employee, or the agent or agent’s business associates.employee, or the agent or agent’s business associates.

- Duplicate LeadDuplicate LeadDuplicate leads occur when an Internet visitor re-Duplicate leads occur when an Internet visitor re-

enters their information in order to access more enters their information in order to access more information on your site. This is quite common if they want information on your site. This is quite common if they want to re-define their search parameters or if they to re-define their search parameters or if they unintentionally exit the site and then re-enter.unintentionally exit the site and then re-enter.

- Invalid LeadInvalid LeadThis type of lead is usually a result of an Internet This type of lead is usually a result of an Internet

savvy visitor who wants to access your information and is savvy visitor who wants to access your information and is aware that the online fields must be filled to continue. aware that the online fields must be filled to continue. They will enter fake information for the sole purposes of They will enter fake information for the sole purposes of access.access.

What Internet Visitors NeedWhat Internet Visitors Need

Information QuicklyInformation QuicklyPictures and Descriptions of ListingsPictures and Descriptions of ListingsCommunity InformationCommunity InformationSchool InformationSchool InformationOther Related and Helpful InformationOther Related and Helpful InformationPerception that they can get all from Perception that they can get all from

you and your website! (Most Important)you and your website! (Most Important)

9 Months

Average Buying TermAverage Buying Term

Traditional ProspectInternet Prospect

What is Your Expectation?What is Your Expectation?

Multiple Buying Terms

9 months

9 months +1 +2 +3

Hypothetical: 4 closings in 4 days

3 months

6 months

4 months

12 months

Actual Buying Timeline

SummarySummary Our goal is to position you in front of today’s Our goal is to position you in front of today’s

buyers as the exclusive resource for real estate buyers as the exclusive resource for real estate information for your community. information for your community.

To provide you with the tools and training you’ll To provide you with the tools and training you’ll need to develop a process that will enable you need to develop a process that will enable you to convert your marketing responses into more to convert your marketing responses into more closed transactions. closed transactions.

To help build your business, eliminate To help build your business, eliminate prospecting after time and increasing prospecting after time and increasing productivity and efficiency.productivity and efficiency.

Thank YouThank YouAny Questions?Any Questions?

Customer ServiceCustomer Service888.832.2244888.832.2244