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Tom Ferry shares a key insight on improving lead conversion rates during a discussion with Greg Schwartz from Zillow. Schwartz reveals that a recent test involved taking over several hundred accounts to optimize lead handling. The focus was on speed to lead, aiming for communication with prospects within five minutes through phone calls or emails. Remarkably, they managed to reach clients in an average of two and a half minutes, capitalizing on potential clients still being on the site. This strategy dramatically increased their appointment ratio from 14% to over 50%, showcasing the importance of quick response times in converting leads into appointments.