With the help of a company that employs more than 100 undercover researchers, the real estate technology strategist tested agents from about 30 brokerage firms. They found that more than a third of inquiries never received a response from an agent.
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A nationwide “secret shopper” operation by undercover researchers found that nearly half of potential leads from online forms and open houses slipped through agents’ hands due to low human response rates and inconsistent follow-up efforts.
Real estate technology strategist Mike DelPrete, who conducted the research with the help of a company that specializes in “secret shoppers,” revealed Tuesday that the process is done through an online form on an agent’s website. 47% of inquiries never received a human response, and 42% of open house attendees were never asked for contact information by the listing agent.
Sometimes, researchers posing as clients do receive a response, but it’s automated. DelPrete said that after taking these factors into account, more than a third of online form inquiries never received any response from the agent they contacted.
“Now, in a time when everyone is worried about whether their commission is reasonable, what if I showed this to the homeowners that the agent represents?” DelPrete said at the Inman Connect conference in Las Vegas. Real estate professionals were asked. “It’s really like an agent saying to a homeowner, ’42 percent of the time, I’m not going to do my job.'”
Delprete said things got worse from there.
“When contact information was provided, there was still no follow-up,” Delprete said. “Ultimately, 62% of shoppers don’t follow through.”
Delprete said draws have been slow even for agents who responded to inquiries from potential clients. Typically, secret shoppers wait on average more than eight hours after contacting an agent before receiving a response.
The study employed more than 100 secret shoppers and contacted agents at 30 brokerage firms. What’s the biggest takeaway from Delprete? He said consumers were being treated very inconsistently. Some agents are very good at responding promptly and providing helpful services. Others ignore requests for information entirely, which can hurt their business.
Delprete believes agents spend too much time worrying about things outside of their control, such as changes in commission practices or the impact of rising interest rates on home sales, while ignoring the things within their control that could have a meaningful impact on their business .
“If anyone calls, please call them back,” Delprete told attendees. “No. 2. If someone texts you or emails you, reply. Third, build meaningful relationships.
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