The $7,000 problem every realtor has

The Problem: Missed Calls

It sounds silly, but real estate agents in the U.S. miss a significant number of calls daily. According to industry data, over 50% of all calls in the multifamily sector are missed.

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Financial Impact of Missed Calls

Missed calls mean substantial losses for real estate agents and firms. In the UK, missed calls cost businesses ￡30 billion annually, which averages to about ￡6,000 (approximately $7,000 USD) per business (or about a two week vacation at a Ritz Carlton every year).

Applying this to the U.S. real estate market, which has over 100,000 real estate brokerage firms, the financial impact is enormous.

Example Calculation for the U.S. Market:

- If each U.S. real estate brokerage firm loses $7,000 annually due to missed calls, the total annual loss for the industry is north $700 million.

That's enough money to spend $50,000 a day...for almost 40 years.

Or if you're a bit more generous you could build 700 elementary schools, each serving around 500 students, which would provide education to 350,000 children. This could educate each child born in Chicago for the next 7 years.

So it's a lot of money being lost...

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How Inbound AI Phone Callers Can Help

Inbound AI phone callers can address the issue of missed calls by providing 24/7 support and ensuring that no call goes unanswered. Here are some of the tangible benefits:

1. 24/7 Availability

- Benefit: AI phone callers are always available, day or night. This ensures that potential clients can always reach someone, even outside of regular business hours.

- Impact: Increases client satisfaction and you never miss a call.

2. Cost Savings

- Benefit: AI phone callers reduce the need for a large team of human agents, cutting down on salary and training expenses.

- Impact: Real estate firms can save a significant amount of money. For instance, reducing the need for additional staff can translate to savings of thousands of dollars annually.

3. Improved Customer Experience

- Benefit: AI phone callers can provide immediate responses and handle basic inquiries, ensuring that clients receive prompt attention.

- Impact: Enhances client satisfaction by providing quick and accurate information, which can lead to higher conversion rates.

4. Handling Routine Tasks

- Benefit: AI can handle routine tasks such as scheduling appointments, providing property details, and answering frequently asked questions.

- Impact: Frees up human agents to focus on more complex tasks, improving overall efficiency and productivity.

5. Data Collection and Insights

- Benefit: AI systems can collect data from every call, providing valuable insights into client needs and behavior.

- Impact: Helps real estate firms tailor their services and marketing strategies to better meet client demands.

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DM me if you want an inbound AI caller! ??

Sources: https://www.nar.realtor and https://www.agentadvice.com

(Calculations are rounded, not all translations of numbers and prices may be accurate as exchange rates and prices vary day to day.)