Understanding the Role of a Real Estate ISA in Enhancing Sales

For any burgeoning real estate professional, the intricacies of prospecting, pursuing cold leads, fixing appointments, making calls, and multitasking as a sales agent can be exhaustive and inefficient.

This is precisely where the significance of real estate inside sales agents (ISAs) shines through. In a landscape where 94% of buyers prioritize responsiveness in an agent, time management becomes critical.

For agents and real estate teams seeking to streamline operations, boost sales, and focus on lead qualification, follow-ups, and scheduling, delving into the realm of ISAs is a strategic move.

Who exactly is a real estate ISA?

The primary objective of a real estate ISA is to channelize a maximum number of sales-ready leads to a real estate agent. ISAs play a pivotal role in augmenting an agent or team’s success by enhancing lead conversions – turning potential leads into successful sales.

It’s vital to note that an ISA isn’t merely an assistant; their core focus lies within inside sales.

What responsibilities does a real estate ISA hold?

Inside sales agents are often viewed as versatile professionals, adept at handling a myriad of tasks tailored to the requirements and objectives of the real estate professionals they collaborate with.

Their responsibilities encompass a spectrum of crucial tasks, including:

• Scheduling appointments
  
• Identifying new prospects through various means, like cold calls and market research

• Assessing and categorizing incoming leads

• Nurturing past leads

• Filtering through leads meticulously

Let’s delve deeper into three primary responsibilities and their associated tasks.

Prospecting involves reaching out to potential leads like expired listings and FSBOs, identifying potential opportunities, and strategizing effective approaches to target these prospects.

Lead Qualification is about distinguishing between sales-ready leads and reaching out to new leads. ISAs discern which leads hold promise and which ones don’t, funneling them to the real estate agent’s CRM for the appropriate follow-up.

Follow-ups include converting unqualified leads into qualified ones by addressing their concerns. For instance, if a lead requires a lender, an ISA can offer suitable recommendations. Given that around 80% of sales necessitate an average of five follow-up calls, the art of persistent follow-up becomes indispensable.

Moreover, ISAs might engage with past clients to seek referrals for new leads.

When is it time for a real estate agent to consider hiring an ISA?

Determining the necessity for an ISA revolves around various factors: the volume of leads being managed, the scale of business operations, monthly deal closures, and the readiness to expand.

Typically, for an ISA to be a valuable addition, a business should ideally possess a minimum of 500 leads at any given time. If your business aligns with this criterion, it’s an opportune moment to explore recruiting an ISA.

Other indicators signaling the need for an ISA include consistently closing two deals monthly and having a proficient assistant already in place.

Remember, an ISA isn’t a substitute for an assistant; their primary function is to elevate sales.

What attributes should a real estate ISA bring to the table?

Agents and real estate teams that invest time in sourcing skilled ISAs often find their contributions invaluable.

The crucial skills and traits to seek in an ISA encompass:

• Exceptional organizational prowess

• Proficiency in managing drip campaigns and CRMs

• Professional handling of rejections

• Comfort and consistency in daily cold calling

• Mastery of scripts for effective communication

• Strong written and verbal communication skills

• Self-driven and goal-oriented mindset

Moreover, a competent ISA should possess a comprehensive understanding of the services and sales processes of the real estate professional or team they collaborate with. They should exude amiability, enthusiasm, and adept problem-solving skills.

Guiding your real estate ISA towards success

Post the interview process, ensuring your ISA is equipped for success is paramount. This involves training them to prioritize the right leads, establishing efficient workflows, and defining clear goals and targets.

Training

Effective training is pivotal for ISAs to prioritize leads efficiently. A structured three-week training program is recommended. The initial week involves job shadowing to assimilate your team’s operations. The second week emphasizes practice and tips application, while the third week focuses on making calls while receiving feedback.

Workflow

The most suitable CRM workflow may vary for different real estate teams. You might adopt workflows where leads are directed from the source to the agent, or from the source to the ISA and the agent collectively, or from the source directly to the ISA and subsequently to the agent. The most effective workflow for your team might necessitate experimentation.

Setting objectives and milestones

Establishing clear metrics at the outset is crucial to objectively assess your ISA's performance and growth. Setting measurable targets facilitates tracking progress and improvements effectively.

Compensation models for real estate ISAs

Typically, there are three prevalent pay structures for ISAs:

1. Fixed salary at an hourly rate plus a bonus for each qualified lead.

2. Fixed salary at an hourly rate in addition to commissions.

3. A 100% commission-based model, which is less common due to potential biases toward inbound leads, neglecting other prospects.

In the salary plus commission model, commissions generally range between 5% to 15%.

Options for accessing ISAs for lead generation and sales

You might opt to directly hire a real estate ISA or engage a specialized company catering to ISA services. Here are a few top options:

• Upcall: Focusing primarily on outbound sales, Upcall offers lead generation outsourcing without the need for an in-house sales team, starting at $1,000 per month.

• Smart Alto: Providing ISA services with text and integrated website chat capabilities, Smart Alto’s live virtual assistants start at $300 per month.

• Verse.io: Offering lead nurturing and follow-ups for real estate professionals at a starting price of $1,800 per month.

• Structurely: Providing ISA software to engage leads through chatbots and live chat, starting at $179 per month.

• AgentAssistant: Offering lead call services starting at $399.95 per month and also providing a program for reaching out to cold leads.