The California Association of Realtors recently conducted a survey of Internet Vs. Traditional Buyers. One of their findings revealed that 94% of “Internet” buyers expected a response within 4 hours or less in 2007, compared to 67% in 2006.
This has long been an important conversion factor when responding to your leads. It is critical that you respond within a timely fashion and it is now confirmed that your customers EXPECT it.
Here is how the numbers add up:
22% expected an immediate response
21% expected a response within 30 minutes
16% expected a response within 1 hour
17% expected a response within 2 hours
18% expected a response within 4 hours
6% expected a response within 1 business day
Compare the buyer’s expectations to the standard response rates by Realtors, less than 50% even respond to internet leads at all. The ones that do, it takes an average of 2 days.
How do you measure up? Are you meeting your customer’s expectations? Whether you receive a large volume of leads, or just a few, you must always focus on a timely (if not instantaneous) response to your prospects. This will give you a competitive edge against your competition.