Here is a great quote from a great article from Bernice Ross from Inman news. ’10 Tips for Real Estate Success in 2011.’

‘3. Lead generation is the name of the game

As a rule of thumb, about one out of three solid leads ends up closing a transaction with us. This means that if you want to close four transactions per month, you must have 12 well-qualified leads each month.

The issue is how to generate these leads. For example, if your conversion rate for Web leads is 1 percent, you must generate 1,200 website visitors to generate 12 solid leads and four closed transactions.

If you convert 25 percent of your expired listing leads, you must call on the owners of 16 expired listings per month to close four transactions. If you convert 10 percent of your open house leads, you need 120 open house visitors per month to close those four transactions.’

You can read the rest of the article here. Enjoy.

http://www.inman.com/buyers-sellers/columnists/berniceross/10-tips-real-estate-success-in-2011