When it comes to real estate, speed and consistency in following up with leads can be the deciding factor between closing a deal or losing a client. Greg Harrelson, a real estate veteran, argues that making consistent calls to your leads is not just a recommendation but a proven strategy backed by data. In this article, we’ll explore the theories behind frequent lead calls and the statistics that demonstrate why this practice is essential to growing your real estate business.
Let’s first explore the psychology behind frequent calls and why they matter so much in the realm of real estate.
Leads aren’t just cold names on a list—they are real people with varying levels of readiness to engage in the buying or selling process. In real estate, the buyer's journey is often longer than in other industries. A potential client may browse online listings for months, if not years, before making a move. Regular contact keeps your name at the top of their minds as they make their way through this journey.
In marketing, there’s a concept known as the "Rule of Seven," which suggests that a prospect needs to hear or see your message at least seven times before they’ll take action. In real estate, this translates directly to lead calls. A lead who hasn’t been contacted enough is unlikely to convert because you haven’t built enough trust or provided enough value.
The urgency of following up quickly cannot be overstated. Studies by the Lead Response Management Organization reveal that leads are 400% more likely to respond when contacted within the first five minutes of submitting an inquiry. After that, the likelihood of engagement decreases dramatically with every passing minute.
In real estate, where potential clients might be submitting requests to multiple agents, getting on the phone quickly can be the difference between converting a lead into a client or losing them to a competitor. The agents who make fast contact are usually seen as more professional, organized, and trustworthy.
Now let’s dive into the hard numbers. According to research from the National Association of Realtors (NAR) and other industry sources, consistent calling and follow-ups are not just a good idea—they are absolutely essential if you want to convert leads and grow your business.
Agents who call their leads consistently close significantly more deals. NAR data shows that agents who follow up on leads 6 to 10 times see up to a 300% increase in conversions compared to agents who stop after one or two calls.
Greg Harrelson’s team at Century 21 has tracked 400,000 leads and found that 95% of conversions happen after the sixth contact attempt. This means that the agents who are persistent, even when it feels futile, are the ones who will reap the rewards.
It’s important to note that most agents give up too early. Research shows that:
Given that most conversions happen between the sixth and tenth contact attempts, agents who stop early are leaving significant opportunities on the table.
Actionable Takeaway: If you want to stand out from the competition, simply make more calls. Be the agent who sticks with a lead through multiple touchpoints, and you’ll significantly increase your chances of closing deals.
Another crucial element that Greg Harrelson highlights is that, during market slowdowns, fewer agents actively make lead calls. While some agents reduce their effort when sales slow, the savvy agents double down, capturing a greater share of deals as their competitors fall off the radar.
Even when the market isn’t booming, people are still buying and selling homes—just with different motivations. Some sellers may need to downsize, others may be relocating for a job, and buyers could be looking for a deal. But if you’re not making calls and staying top-of-mind, you’re missing out.
Calling leads quickly isn’t just a best practice; it’s a necessity. Here’s why speed matters:
A study by InsideSales.com found that contacting a lead within the first 5 minutes of their inquiry makes you 100 times more likely to connect with them than if you wait just 30 minutes.
If you wait more than 30 minutes, your chance of contacting the lead drops to 21 times lower than if you’d called immediately.
In an industry where decisions happen fast, this speed gives you a competitive advantage. Harrelson emphasizes the importance of an “always ready” mentality—being prepared to respond immediately to new inquiries.
Solution:
Use Technology to Help: If you can’t always be on-call, leverage automated systems that send out an instant text or email to leads, letting them know that you’ll reach out shortly. Then, follow up with a phone call as soon as possible.
Prepare Scripts: Have a variety of scripts prepared for different types of leads—whether it’s a new buyer inquiry, a follow-up with a warm lead, or reconnecting with a past client. This allows you to respond quickly and confidently to any lead that comes in.
The Long-Term Value of Consistent Calls
While the short-term benefits of making more lead calls are clear—higher conversion rates and more closings—there’s also a long-term benefit. Agents who consistently follow up build stronger relationships with their leads, and strong relationships often lead to repeat business and referrals.
Referral Goldmine:
Greg Harrelson points out that one successful call today can lead to multiple transactions down the road. For example, a buyer who purchases with you today could sell in five years and, in the meantime, refer you to friends and family. Each call is an investment in future business, not just immediate results.
The statistics don’t lie—agents who call their leads more often convert more leads, close more deals, and build stronger businesses. Theories like the Rule of Seven and principles like “speed to lead” are backed by hard data showing that persistence and consistency are the keys to success in real estate.
So, the next time you feel like putting off those lead calls, remember that each call brings you closer to your next deal. Stay consistent, act quickly, and you’ll set yourself apart from the competition. The phone may just be your most powerful real estate tool.