Full Leads, Partial Leads, and Conversion Numbers

How many Seller Leads and Listings can I Expect?

Partial Leads – a partial lead is when someone enters their address in Step #1 on your PSL site and when they get to Step #2 they decide to leave the site without entering any additional information. Let’s compare this type of “lead” to what occurs on a “regular” buyer themed website. It doesn’t matter if it’s a Real Geeks, KVCore, Chime or any other type of buyer IDX type site, on average every 90-94 visitors out of 100 to a buyer type site will leave the site without registering. That means that only 6 – 10% of visitors to a buyer site per day will end up registering and leaving their lead information. How do I know these numbers are accurate? Because I run the Google Ads campaigns for dozens and dozens of these buyer type sites. On these buyer IDX sites, there are not any type of “partial” leads – either you get someone’s lead information or you do not. There is nothing the matter with partial leads, they are simply another tool to use to try and turn a website visitor into a listing. Every agent has different ways of working with them. Some agents choose not to work partials at all. Others send postcards, knock on the door, look up the lead information online, check tax records, etc. I know for a fact from talking to our clients that partial leads are being turned into listings on a consistent basis. We had a huge amount of feedback from our PSL clients requesting that we add the ability to turn a partial lead into a full lead, which we did. These requests weren’t being made because partial leads are worthless, trust me!

Fake Leads – Forget fake leads, they do not matter. That’s right, they do NOT matter. They are all part of the raw numbers that lead to your ultimate success. Let me explain. The average agent is going to convert 1% of their seller or buyer leads into either a listing or a sold home. That means that 99 out of every 100 leads that they get don’t do anything with them. Think about that – 99 out of every 100 leads don’t do anything with the average agent. Does it matter if those 99 leads have given a correct name, phone number, and email address? Is there really any difference if some of those 99 leads gave fake information such as Mickey Mouse or vulgarity as their name along with a fake phone and email address? Absolutely not – because the end result is still the same – the agent did not convert that person into a listing or a sold home. It makes no difference. Internet leads are a numbers game – the more leads that you generate, the greater chance for success that you have. By the way, there are plenty of agents out there that convert leads into listings/buyers at 3-5% or higher. It all comes down to the systems they have in place and their individual skill.

How many Listing Leads will turn into Actual Listings?

Conversion Number $$$ Potential – As I stated above, internet leads (seller or buyer) are a pure numbers game. The more leads that you get, the greater chance for success that you have. The numbers don’t lie. Let’s assume that the average agent will convert 1% of their leads into a listing – which is very reasonable. So out of every 100 leads, 1 of those leads should turn into a listing. The average cost per lead is extremely low, depending upon your market it averages anywhere from $1.50 to $6.00 per lead. For our numbers though, let’s estimate that you are paying a lot more than that per lead – let’s say $10 per lead. So if you generated 100 leads in a month at $10 per lead, those leads would have cost you $1000. If you converted those leads into listings at 1% – that means 1 out of those 100 leads turned into a listing. Let’s assume an average sales price of a home is $150,000 along with a 3% commission rate for your side of the transaction. This would be a total commission of $4500. If your splits at your brokerage are 50%, that would leave you with a commission check for $2250.