Drawbacks of Not Hiring an ISA for your Real Estate Team
Hiring new people can be a daunting prospect. It means additional expenses like salary, commission, and benefits. But more than that, the process of hiring and training itself is a large undertaking and acts as a deterrent to many business owners who just don’t want to go through it. After all, they are focused on running their business or team and already don’t have enough time as it is.
However, if you have a successful and growing real estate business, you are going to eventually hit a ceiling. You and your agents are going to be pushed to their limits, and things like prospecting and responding quickly to leads are going to start to suffer. Eventually, the successful growth you had been rapidly experiencing will slow, and your business will begin to stagnate.
A solution to this problem? Hire an inside sales agent for your real estate team. Having an effective real estate ISA on your team means that you have someone who is trained for and dedicated to generating and converting leads in the office while you and your agents are running the rest of your business. They focus on having the initial contact with the leads and prospects, entering contact information and conversation notes into your database, and handle many of the administrative tasks associated lead gen.
In other words, once your business hits a certain point, your real estate team needs an ISA. Although there are costs and work involved with hiring an inside sales agent, the opportunity cost of not hiring one is even greater.
Here are some ways your business will suffer by not hiring an ISA when your business is ready for one:
– When your real estate team gets busy, the first thing to go by the wayside is typically prospecting. The simple fact is that if you don’t generate and convert leads consistently through a solid phone prospecting strategy, your business just isn’t going to grow.
Even worse, your costs of lead generation are going to go through the roof. This is because you and your team do not have the bandwidth to adequately communicate with your leads and prospects. The leads that you do spend money on to generate—and even the opportunities that come your way without you having to lay out a bunch of cash—are going to be missed because you’re just not making regular contact with prospects.
Listing Appointments Suffer
– Despite all the avenues that agents and ISAs have today to contact prospects, phone calls are still the most effective and most efficient method. There are a lot of potential leads out there, if you only are willing to and know where to look. You need ISAs who are constantly picking up the phone to contact expireds, withdrawns and FSBOs a daily basis.
ISAs are critical here because their job is wholly dedicated to picking up the phone and having successful sales conversations, they’re going to be on the phone 6.5 to 7 hours per day—every day, and they ensure that dials are made to get the requisite number of contacts to get you consistent listing appointments.
Put simply, having an inside sales agent or team of inside sales agents means that your real estate business is going to have a consistent stream of leads and appointments.
How Much Money Are You WASTING On Leads That Don’t Convert?
Wasted leads and lost commission checks are one of the most common problems plaguing real estate teams and brokerages today.
Lower Quality Appointments
– This drawback to not having an ISA goes hand in hand with the other two. If you don’t have a dedicated inside sales agent the consequences are twofold. First, there is less time and effort dedicated towards prospecting, meaning that your leads and prospects are less diligently vetted. This results is more missed appointments and in wasting time with people who are not actually serious about buying or selling a home. And second, there is less trust fostered between your company and the prospect or lead. This is the result of less contact.
On the other hand, if you have a solid ISA and a consistent nurture strategy in place where you can foster relationships, your listing appointments are not only of a superior quality, but they are easier ,and take less time, for you to convert.
Without an ISA, it’s hard to make the requisite 6 to 8 contacts, or more, to prospects to establish a great foundation and nurture a relationship to the point where buyers and sellers welcome you and your agents into their home buying or selling process.
At the end of the day, scaling your real estate business requires hiring someone to handle your prospecting and lead nurturing. And not just handle it, but to consistently and successfully have effective sales calls. Let your agents focus on buying and selling homes, let your inside sales agents focus on setting quality appointments.