Metro Brokers generates up to 3,000 internet leads per month across multiple lead sources, including their broker and agent websites. These leads are distributed to a group of 75 agents dubbed the Internet Response Team (IRT), and managed by three internal staff members called Internet Lead Managers (ILMs). The ILMs handle initial customer calls, scrubbing leads before passing along to IRT agents, and then maintain continuous contact with the assigned agents throughout the lead lifecycle.
Despite rigorous oversight and business processes, Metro was experiencing a 1.2% raw lead conversion rate. This number was too low for COO Craig McClelland’s satisfaction. “We were losing almost 9 customers for every 10 we generated from internet sources. This is an unacceptable number for a sustainable profit center.”
Metro first tried to fix the problem with internal process changes and a deeper review of agent practices. “Our agents were not the problem. They were responding to initial inquiries within 5 minutes, and following up with the customers via email and telephone, sometimes weeks after initial contact,” said McClelland. “The customers were just not ready to move forward with a transaction.”
“The agents were building up the idea that all internet leads are bad. However, we maintained the belief that these are real customers looking for their next home, and we just needed to improve the way we serviced them.”