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Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.
This week, Inman contributor Chris Drayer asked the provocative question on everybody’s mind: Is speed to lead dead? His argument? In a time of intense competition and changing consumer perceptions, the hottest lead isn’t always the best one.
Subsequently, a lawsuit filed against Realtor.com parent company Move and the National Association of Realtors calls into question whether those paid leads are really all they’re cracked up to be in the first place.
It’s kind of hard to know how to generate, capture and nurture leads into clients these days, so we asked: What’s your take? Which matters more: Speed to lead or relationship-building? Are you focusing on paid leads or getting up close and personal with your SOI? Do you find it easier to talk commission with a virtual stranger or with the folks you know best? What’s your plan for maximizing opportunities in the months to come? Here’s what you had to say:
- Relationship-building [many]
- Great question! While I think quick responses are important, prioritizing relationship-building offers even greater long-term benefits. Building genuine connections fosters trust. Understanding your clients’ needs allows you to be more personalized and, hence, more effective. Creating that strong relationship helps to enhance your reputation and generate word-of-mouth. Word of mouth is more persuasive than advertising. It’s also more targeted than advertising. In essence, while speed matters, focusing on relationships can yield richer, more sustainable outcomes. Disclosure: I am not a real estate agent, but I work in the industry. I manage a contact center that does lead qualification, and we nurture and build relationships with many clients who aren’t ready to buy right now.
- Trust is earned, respect is given, and loyalty is demonstrated. Betrayal of any one of those is to lose all three.
- While “speed to lead” is more likely to create business, it requires a certain personality type and more finely honed sales skills to convert. I believe that most agents (and would argue the best ones, or at least the ones who take fiduciary duty seriously) are people-focused. As such, “relationship building” is more natural for them and more life-giving/less soul-sucking as a paradigm for lead-generating activity.
Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.
What did we miss? Please share your thoughts in the comments section below.