Real Estate Brokerages Fail to Capture Two-Thirds of Inbound Leads
A Pied Piper study of 2,198 consumer inquiries across 21 major real estate brands found that only 33% of callers reached an agent during their initial phone call, and 73% received no follow-up within 24 hours. Web inquiries fared worse: 68% went unanswered within a day, and only 18% resulted in contact from an agent. The study, conducted in June and July, assigned Lead Handling Effectiveness scores from 0 to 100 based on speed and quality of response.
Howard Hanna Real Estate Services ranked first overall with a score of 30, followed by Realty Executives, EXIT Realty, Sotheby’s International Realty, Douglas Elliman and Realty One Group in connecting callers with representatives. Compass, United Real Estate and Keller Williams connected consumers within 30 seconds less than 40% of the time. For web inquiries, the industry-wide average score was just 11 out of 100, with REMAX, Realty One and Howard Hanna responding over 60% of the time within 24 hours. Engel & Völkers, Realty Executives, Sotheby’s and Long & Foster responded to fewer than 10% of web inquiries.
Pied Piper researchers found that consumers who failed to reach an agent on their first call were often given a direct number but left to pursue follow-up themselves. Vice President Cameron O’Hagan said delayed responses give customers time to connect with competing agents before the original firm recognizes the missed opportunity. In an industry where lead generation drives revenue, brokerages appear to be losing potential transactions at the first point of contact.
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