Online advertising is a great way to generate a substantial amount of leads for your real estate business. Whether it be through a Pay-Per-Click approach or other forms of digital advertising and marketing, a well-formulated campaign can produce a steady flow of leads – but, at the end of the day, a lead is just a lead! That is until [enter your name here], agent extraordinaire, comes along and converts that lead into a sale. Sounds simple, right?
Well, believe it or not, this is where many agents struggle, unsure of how to effectively take that lead, or in some instances, a prospect, from just a lead to engagement and ultimately a sale. Below are a handful of tips to help you go from an agent with a ton of leads to an agent with a ton of closings, after all isn’t that the point?
#1: CALL, CALL, CALL!
The single most important way to convert a lead is to make contact as soon as possible! Calling within the first 5 minutes has proven to be 21 times more effective than waiting even 30 minutes to call. So before you worry about seeming too eager, remember this isn’t a “play it cool, second date call”, this is business and 78% of customers buy from the company that responds first – make sure that’s you!
#2: Use a Script
For some agents, jumping on the phone with a lead is easy as chatting with your best friend. The conversation flows casually, just the right amount of information is given and received, a joke or two is shared and a real connection is made. If that is you – congrats! You are a special breed! For many agents, especially newer ones building their confidence, calling a lead can feel a bit stressful and overwhelming. The best way to keep the nerves at bay, and stay on point, is to have a script. We aren’t talking about reciting the conversation word or word, however, a few notes will go a long way in ensuring you don’t forget any key information and make sure to ask important questions.
Pro Tip: Many agents use a script called LPMAMA, which stands for location, price, motivation, agent, mortgage, and appointment.
This may seem like an obvious, but you would be surprised how many times clients feel unheard when dealing with industry professionals. Not only will the lead feel that you are taking their wants and needs seriously – listening to exactly what your client wants will make your job easier!
Pro Tip: If you find something that isn’t in line with what the lead is in the market for but think they might benefit from seeing it, try leading with “I know this is different than what you’ve expressed interest in but…”
#4: Qualify your lead
It is important to know where your lead lies along the scale of “just browsing” to “cash in hand – ready to buy”. Most leads will begin as prospects and are in the very beginning stages of buying. If so, they will require different attention and flow up plan than a lead who is seriously looking with a defined timeline. It is important to know the difference as each lead will require a different approach to effectively convert.
Pro Tip: Create workflows based on the common answers you receive from speaking with prospects. For example, if the prospect says they are 6 months out, create a workflow that will automatically re-engage with the person 6 months from now.
#5: Think long term
As mentioned before, most leads that come in will be in the very beginning stages of the purchase, many times just browsing. When this is the case, your mindset needs to switch from a quick fling to a long-term relationship. And with any relationship, keys to success include listening, effort and flowers. OK, maybe not flowers – but you get the point.
#6: Be consistent
Consistency is key! Success isn’t one giant leap from point A to point B. It is a series of small, intentional and deliberate steps that are made over time. A great way to ensure consistent contact is by use of a workflow or drip campaign. Other popular methods include the use of e-blasts or an e-newsletter.
Pro Tip: Ensure your attempts at contact are personalized and the information sent is relevant and informative!
#7: Don’t be sale-sy
If you’ve tried to buy something from someone who all but screams “I make commission off this”, you will know how uncomfortable the experience can be. While it may be frustrating to spend a lot of time and effort and not close the deal – a sure-fire way to drive away business is to focus more on the paycheck than the person!
Pro Tip: Focus on value-based selling. How is the prospect benefiting from working with you? Every chance you receive, try to provide additional
#8: Know your area
While your lead is being slowly nurtured, they may have questions or concerns about certain areas or neighborhoods. Being a knowledgeable resource will not only help them during the process, it will also keep the lines of communication open.
#9: Sell yourself
When it comes to turning a lead into a client one of the most important things to remember is that they are going to ultimately decide based on the connection you’ve established with them. Much of the groundwork for that connection can be done before ever having a conversation. A strong and professional online presence is a great way to sell yourself as a helpful, professional and successful agent.
Pro Tip: A lead (or prospect, or client, or anyone for that matter!) may not always remember what you’ve said but they will always remember how you made them feel!
#10: Evaluate your process
If you have been struggling to successfully convert leads into clients it may be time to do a little self-reflection. Taking the time to sit down and thoroughly evaluate your process may highlight some areas where you are struggling. If that’s the case, take advantage of the many resources available to you and turn that weakness into a strength.
The key take-aways for converting leads into clients should be that timeliness, attention and authenticity matters. A quick response combined with steady and slow nurture of the relationship is ultimately what will grow your business. When you transition your mindset from buying or selling houses to building and fostering relationships, success is inevitable.