July 10, 2019 Last updated July 10th, 2019 1,041 Reads share

How to Convert Leads in the Real Estate Industry

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Every lead has value but that value depends on the efficiency in converting it to the next stage in the real estate sales funnel. The more leads you can convert into appointments, the more valuable your leads. Here’s how to go about turning more of those leads into appointments and getting more real estate sales.

Understand a buyer’s journey

A typical buyer’s journey can last for months as they go through different stages from consideration to making the final decision.

Being able to understand which stage a buyer is in and treating them accordingly offers more chances of success. Pushing them too much in the initial consideration phase can put them off. They want to receive authentic answers to their questions instead of being pressurized.

Set them up with email alerts for a few houses they might be interested in each week or, on the listing side, schedule a follow-up in your CRM for at least every 30 days.

If buyers have been through the consideration and online research phases, they may be moving into the active search phase where you can set up some showings. Turning your contacts into warm leads is the first step to making a sale.

Track performance

Every time you contact a lead or go to an appointment, it should be recorded. A contact can be defined as a conversation with a lead about selling or buying a home.

As long as there is communication from both sides, this qualifies as a contact whether it’s in person, in an email or on the phone. Log appointments when they are kept, rather than when they are scheduled.

Using a spreadsheet for tracking is better than nothing but this is inefficient when compared with a proper CRM (Customer Relationship Management) system. You generally need a CRM in order to track leads through the various stages of the sales funnel, from contact to warm lead to a home buyer.

Move quickly

The sooner you contact a lead after receiving a query, the more likely you are to receive a favorable response. Client expectations have increased and today they expect a quick response. If you don’t respond quickly enough, they find someone else who will.

Every minute that goes by reduces your chances and if a person inputs information on a website, it’s important to make contact and qualify the lead in as short a time as possible.

Vary your communication methods

Some real estate agents tend to stick to one method, such as making phone calls and wonder why they are not as successful as others who use more than one communication method. Take a moment and find out from clients how they prefer you to communicate with them.

You have many ways of communicating at your disposal, such as using social media platforms, email lists, and text messages. When dealing with real estate, it takes time for contacts to move through the various phases of the sales funnel and you need to nurture them along the way.

Real estate agents need to keep learning, stay on top of trends, understand more about how to use social media effectively and get creative with ways to communicate.

Contact more leads!

The more leads you contact, the more sales you will make. Communicate with about 20 people a day and you’re much more likely to be successful.

Work at improving the way you communicate, keep trying different communication methods and don’t forget to track and analyze your results. Without analyzing your results, you will have no idea of the success of your methods and where you can still make improvements. 

Brian O'Connell

Brian O'Connell

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