How to convert your Real Estate Leads

How to convert your Real Estate Leads

Real estate leads are among the most difficult yet rewarding online leads you can work with. On the one hand, getting random strangers to trust you with assisting in buying/selling their homes is one of the most difficult things you can do as an agent. On the other hand, finding one good lead that closes a deal has the potential to pay for itself tenfold. My focus in this article is real estate, but this technique can be applied to any type of web lead you’re working with.

What follows are the top six best practices for converting your online leads:

1. Time is of the essence.

You should reach out to your online lead within the first few minutes of getting your lead alert. You’re 80% more likely to make contact with a lead if you reach out to them immediately. That number drops to about 20-35% if you wait over 30 minutes to reach out to your lead. Always be of the mindset that you’re not the only product/brand/agent this lead is researching and if you don’t reach them first, somebody else will.

2. Follow the ’10 days of pain’ rule.

I know it sounds awful, but trust me when I say that it works. During the first 10 days of getting a lead, you should try calling, texting and leaving voicemails several times. At this point, you shouldn’t need to manually email your lead since your drip system should be taking care of that portion of outreach. You will probably feel like you shouldn’t make that extra call or send that extra text, but it might make the difference between getting a deal and missing out on one. The first few minutes are especially important when you first get a lead, but if you don’t immediately make contact with them, the next 10 days are crucial.

3. Use drip marketing.

Email drips are some of the most cost-effective and efficient ways to automatically reach out to leads. To act non-confrontational, keep your drip emails very informal with an end goal of getting your lead to take an action like responding.

4. Think before you dial.

This might seem like an incredibly obvious point, but it’s always easy to overlook if you’re quickly calling a lead. Before you pick up the phone to talk to them, have a game plan. Have your questions prepared and be ready to answer any questions they may have. Always be sure you have enough time allotted to speak with your lead. If they answer, an initial call may last anywhere from 30 seconds to 30 minutes so be sure you’re prepared to have an in-depth discussion in case you make contact with them.

5. Be a resource, not a nuisance.

Why should your lead work with you instead of another agent? What type of value are you adding to their experience of buying/selling a home? Every time you decide to reach out to your lead, be sure that you’re adding something of value: “I just heard that 1234 W street sold off market for $1,000,000,” or, “I know of an off-market property that will be coming on the market in three weeks. Would you like a preview of the property before it is listed?” Always be adding value to the conversation instead of just calling a lead to try to say hi. You need to be their one resource for everything real estate, no matter how big or small.

6. Qualify yourself before qualifying your lead.

The biggest hurdle to overcome once you have a lead is to qualify yourself. I’m sure in the coaching world you’ve constantly heard about qualifying your leads, but nobody ever mentions qualifying yourself. You need to clearly and effectively communicate to your lead why you are qualified to be a part of this incredibly important journey. This needs to be clear and concise not only during your calls and voicemails but also in your email drips.

Although this is an incredibly short list of best practices, the hope is that it helps give you a kick-off point for your lead outreach.

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