One of the most popular questions that agents ask me when I am conducting training as part of the 1 hour agent training program that I get is “how to I get more good leads?”.
This question always comes from an agent who believes that the only reason that they haven’t made it to this point is that they don’t have “good leads”. Before I get into the formula for how to tell the good leads from the bad ones is a true take of two agents.
Agent 1
- Received 605 leads
- Closes 4 sales
Agent 2
- Received 225 leads
- Closed 25 closed sales
So did agent 1 get the “good leads”?
In fact these two agents were on the same team and they received leads from the same source. The issue came down to two key principles that many agents overlook that I would invite you to consider:
- Judging leads. In the above example agent 1 judged every lead depending on what the prospect filled out. He judged a lead were a prospect said they were looking for $200K as better than ones that said they were looking at $100K. Don’t judge lead become process oriented and follow the same process every time.
- Not interviewing leads. Agent 1 provided information to each lead and failed to ask them questions. In other words he failed to find out anything about them. He was real estate 411.
In order to get to the good leads among all of the leads that you receive a process needs to be followed 100% of the time to get the most out of every lead.
Formula For Finding Out Which Leads Are Good and Which Ones Are Bad
My brother and I often answer agents that the good leads are the ones that I have a closed commission check for and while this might be true there is a formula to follow to become like agent #2 and avoid the disaster of agent #1.
- Understanding The Success Numbers. 85% of leads aren’t just a waste of time they are a total and complete waste of time. Your goal is to find the top 15% of leads that are worth your time, energy, and effort. The only way to do that is point #2.
- Ask Only Questions. When you ask the right questions you will find out who is serious and who is gong to waste your time and all before you put lots of time and effort into working with them.
The two principles above leads to the formula we have developed over the years for finding as many “good” leads as possible:
100% of Leads X Ask Questions = Top 15%
This formula will deliver you the top leads that are available to you regardless of lead source. I look forward to hearing how you find the good leads.
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