Elite ROI FAQs
ROI and Turn Rate FAQs
Do you have any tips on finding a good farm?
Look for an area that has at least a 4 – 6% turn rate (the percentage of homes that will sell in the farm area on average in one year). We also suggest working with a good title rep to establish a farm with a high turn rate. They can give you advice and help you understand the turn rate in your neighborhood.
How can I find out the turn rate of my neighborhood?
Talk to your title rep or use databases like ProspectNow, Benutech, or Title Tool Box, etc. These companies specialize in data and have powerful algorithms that can tell you which homes are most likely to sell in your neighborhood.
What is the average capture rate?
This depends on your goals. Would you prefer to receive fewer high-quality leads or a larger amount of leads that might be less qualified?
You can decide to prioritize brand growth and awareness, making your RealEstateHomePrice.com landing page accessible to anyone with a key code. Or you can require homeowners to submit their phone number and/or email address before seeing the site (after putting in the key code). You’ll get fewer views to the page, but the leads you receive are more likely to be interested in your services. It’s up to you to decide which method works best with your goals.
Either way, understand that the longer you farm, the more brand recognition you will achieve. This is the real underlying purpose of your Elite campaign.
Is there a per-click charge for lead capture when visitors check their home value?
No. We will let you know when they click to get their home value. The most important part of this is the branding, not the lead capture.
How soon can I expect any ROI?
Elite focuses on brand awareness first, and ROI second. Brand awareness and brand growth take time, and both are excellent ways to generate referrals as well as win listings. The response rate depends on several factors: How many houses are your marketing to? How frequently are you sending out cards? What is the turn rate in the farm area? If you’re marketing to 500 homes, naturally it will take longer than an agent marketing to 1000 homes.
Some agents like starting Elite by sending out direct mail twice a month instead of once a month. This does cost more, but it also speeds up the process of becoming the top agent and generating ROI.
Do you have an ROI calculator?
Corefact has an internal ROI calculator that allows you to analyze average turn rate for your farm including commission and selling cost. The calculator is not available to the public, but you can call a sales rep and they can walk you through what the estimated ROI would be for your farm area. Call 866.777.3986 to learn more.
What is the conversion rate on the leads generated over a 12 month period?
The conversion rate of the key code is, on average, 2% nationally. This doesn’t include the leads that call you, email you, or go on your website. Remember, the main focus of Elite is brand awareness—showing homeowners that you are the top agent in their neighborhood.
Interested in automating your farming? Learn more and schedule a call, or check out our other Elite FAQs.
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