Challenge
Premier/Signature Sotheby’s International Realty spends over seven-figures on it’s annual advertising budget. They sell vacation homes, therefore most of that money is spent on print advertisements outside of their primary Florida market.
Since print ads are designed to cause a prospective buyer to call about a property, when a call came in they were unable to know which advertisement drove the call. The big challenge for the Sotheby’s team was understanding which ads were leading to sales.
The second challenge was retaining their high-quality agents. Other brokers frequently recruit their top performers, so Premier/Signature Sotheby’s International Realty needed a way to prove they drive leads that result in sales for their agents.
Solution
Brad Nelson, Vice President of Marketing, implemented call tracking and automatic routing to get real results for their agents.
Nelson now prints a different number in each ad. Using those unique numbers, Sotheby’s can report on how many calls are generated by each listing and connect a call directly to the listing agent for that property. If the agent is unable to answer at that number, they automatically attempt to connect the caller to a list of backup numbers so the agent never misses a call. Calls can also be sent to an entire agent team simultaneously.
Agents also get value from a “whisper message,” which is a recording they hear before answering a call, informing them about the source of the lead. For example, “Call from the Wall Street Journal in Chicago for 120 Peacock Rd.”
“When agents know where the call is coming from, they immediately know the quality of that lead,” said Nelson.
Call reporting is another way Sotheby’s helps make sure agents can take advantage of every call. “We realized our agents were missing calls because of poor cell reception,” said Nelson. “Call reports gave our agents the opportunity to see what calls they missed and call those leads back.”
Results
The Premier/Signature Sotheby’s International Realty office in Sarasota increased sales year-over-year by 25 percent.
Based on call data, Nelson learned that lead quality and advertising effectiveness varied by paper. This information led Premier/Signature Sotheby’s International Realty to cut 30% of their newspaper advertising without affecting lead flow. In some cases they were even able to use the data they gathered to renegotiate advertising rates.
Call tracking also boosted agent retention. “We showed our team how much money was spent on newspaper advertising and the return on that advertising. Without call tracking, they would never have known that,” said Nelson.
Sotheby’s used DialogTech to implement all of their call tracking and call routing systems. “I realized DialogTech gave me all the characteristics I was looking for,” said Nelson. “Quality call tracking, an easy user interface with excellent reporting, and an affordable price.”
To learn more about how DialogTech helps close more sales and the special package offered through the National Association of Realtors REALTOR Benefits® program, call 844-873-5773 or visit www.dialogtech.com.
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