For real estate agents, nothing could be scarier than the prospect of having to convert a lead. We spend a lot of time thinking about generating leads, without leads, we can’t get customers, and that is what it’s called conversion. When a lead you generated turns into a customer, that right there is conversion. And yes, conversions should be your main goal.
But, what do we do, how do we react, once we actually find a lead? How do we convert the lead into an actual client?
This post attempts to provide a road map to converting real estate leads in to actual clients. Because leads are different, a lead generated via word of mouth marketing isn’t the same as a lead generated via a networking event, we’re going to concentrate on one specific type lead generation channel, the online lead.
Most of us advertise via our social media accounts. We also have forms on our sites that leads can fill out. Some of us might already be generating real estate leads online. Some of us have generated real estate leads online only to find we couldn’t convert those online leads to clients.
Below, are 4 things you can do to convert more online real estate leads into actual customers. Although much of this can be applied to any online lead you get, we’ve tailored it towards real estate agents.
4 Steps to Convert Online Real Estate Leads
1. Reply immediately
Once you receive a lead, it’s time to put your running shoes on, because time is of the essence. You must be quick, meaning you can’t sit around and wait to determine the best way to contact the lead. For example, if someone on your website inputs their information, you should immediately send them a text, email, something, in return.
Don’t forget that you’re not the only real estate agent the lead has, or will contact. You can’t take a breather and wait to finish your lunch. At least send them a text asking to set up a time for a phone call. Calling is always better than emailing, especially with initial contact. Emails are best as follow-ups to phone calls.
Keep that in mind as well. The initial text should be something that sets up a separate action. Texts are great because they’re more personal than email without being nearly as intimidating as a first contact phone call.
No matter how you decide to initially contact the lead, make sure to do it quickly.
2. Communicate your expertise
Make sure you know how you’re going to communicate that you’re a real estate agent expert.
Once you’ve generated a real estate lead online, you put on your running shoes and make initial contact. Before making initial contact, you must be positive that you can convince the lead why they should work with you as their real estate agent and not someone else.
Sounds easy, but it’s not. The first part of this process is convincing the lead you’re an expert. The lead knows there are other real estate agent experts, so, this won’t surprise them, but it’s still necessary to convince the lead that you’re one of those experts.
After that, you must then convince them why they should go with you instead of some other expert. This can get tricky because you must illustrate to them via a text, email, or phone call your value proposition. You should create an umbrella value proposition, something you can tell real estate leads no matter who you’re communicating with. You must also search for individual value propositions, something that applies to the specific lead, either before, during, or after the initial conversation.
Most importantly, you can’t skip this process. It’s important that you do this before contacting any leads. Get to work right now so that when the online real estate agent leads come in, you’re ready.
3. Bombard with emails, texts, and phone calls
Sales people in every industry know the 10 Day Rule. The rule states that a salesperson should bombard the lead with emails, phone calls, and texts for at least 10 days after receiving the lead. In real estate, it might be a good idea to bombard the lead with 14 days of emails, phone calls, and texts.
How can real estate agents justify doing this? It’s easier than you think! Houses are flying off the market. Not only that, but house prices are high in most neighborhoods in the country. Making money is a great motivator and many sellers will make money.
Also, as a real estate agent, you have things that you can use to entice communication. You can offer to create a home value report, offer to send them your pre-listing presentation, offer to meet with them over lunch, your treat of course, and show them a listing presentation of their home, or offer a list of homes in the neighborhood that have recently sold and for how much.
There are all sorts of things a real estate agent can offer during those 14 days to convert a lead into an actual client. Also, by doing these things you continue to build your reputation in their eyes as the real estate agent expert they should sign with.
4. Share your knowledge
Always disperse knowledge, never annoy.
Salespeople have gotten a bad rap because some people in sales always want to close. They act like Alec Baldwin in Glengarry Glen Ross. Don’t be Alec Baldwin. Coffee isn’t just for closers. In fact, as a real estate agent, you only close after the home’s been sold.
With that in mind, your main goal, especially with first contact, is to educate, disperse your knowledge, and make leads comfortable. Real estate generated leads will only work with someone they’re comfortable with. Allow them to see that you’re comfortable with them by spreading your knowledge.
Generating leads is only half the battle. Real estate agents must know how to convert leads into customers. By following the 4 steps listed here, real estate agents can convert a much larger percentage of their online real estate generated leads into clients.
Our seller lead capture pages will not only help you generate leads, we’ll also help you on the journey of lead nurturing until they convert. Check out all of our real estate solution features.