4 Easy Steps To Help Convert More Leads Into Sales
While capturing and earning leads is mostly a matter of marketing, converting them has more to do with communication and how you, as an agent, connect with each lead. Letting leads accumulate in your CRM or any other tracking system, will result in little to no success, not to mention, it will increase your workload when you finally come around working your leads. Reaching out and converting them is about finding their reasons for looking at real estate and any future plans they may have. This is a key strategy in the conversion process and one of the best ways to make sure you do not miss an opportunity. Here are a few crucial steps that play a key role in becoming a conversion master.
Step 1: Call your leads
Calling leads doesn’t sound that hard in theory, but picking up the phone and taking the risk to be rejected or hung up on can cause anxiety. Many agents procrastinate with calling leads exactly due to that reason, and before they know it, too much time has passed, and they completely give up on the call. However, the sooner you realize that calling your leads is not as difficult as you make it and that it's your ticket to success with any form of lead generation, the sooner you will be on your way to mastering it.
Did you know that a lead’s response rate is the highest in the first five minutes they subscribed or engage in real estate activity (i.e., when they are looking at listings)? This is a clear indicator that agents should reach out while the leads are still hot and how key this time frame is.
If you are not able to follow up immediately with your leads (you may be in a meeting or at a showing), we at AgentLocator can help you out with that. We have created a system that does the work for you. Our automated system reaches out to leads within the first five minutes, letting them know that you are at their disposal. For more info on lead gen with us click here.
Step 2: Track all your interactions with the leads
To convert leads, it takes more than just a phone call. Your communication has to be continuous and across a broad range. You need to send out emails, campaigns with the latest listings, SMS, and, of course, make multiple calls. Each action you take will help you find out more about your lead, how they communicate and their activity levels when it comes to reading your emails or viewing listings you've sent them.
Every type of communication counts, and you will need to keep track of every interaction with them. The best way to do this is a good CRM with automated features that will allow you to take notes, set reminders, send automated messages/emails, log and record your calls and keep track of all your work. All of that is vital for your conversion process and your never-ending mission on closing leads. It’s also easier to call leads when you know something about them, like what properties they are interested in and what price range they search.
Step 3: Nurture leads who are not yet ready to enter the market
One of the most common objections that Real Estate Agents hear from a lead is that they're "just looking", and they tend to discard such leads.
Those leads could easily turn into clients once they decide to buy.
When calling a lead, your job is to find out what their current plans are, if and when they plan on moving, and what's preventing them from making that purchase sooner rather than later. Ask leads directly if they have an intention to buy a home in the near or distant future. If you ask a lead "what needs to happen to make this move possible", that itself is an open-ended question that could result in the lead telling you more about their plans and what's preventing them from moving right away. Maybe they will be ready in 6 months, a year, or two, meaning they could become your client in the future. For now at least, you know where they are in your pipeline and when to interact with them.
Nurturing leads by following up with them occasionally, providing direction and solutions to their problems and offering amazing customer service pays off in the future. Once they decide to buy and once they need an agent, you’ll have been there all along, guiding them throughout the process, so the likeliness of that lead turning to you, when they're ready to buy or sell increases significantly because of that.
4. Share some information with your leads but not everything you know
You will come across people who will be interested in the market and what an expert real estate agent has to say about it. But, keep in mind that they are still a lead, and not yet a client. There is a fine line between, the things you should share with your leads and what you should wait with. Giving them all the information, in one phone call, often means making yourself obsolete. Make sure you don’t give away, all you know about the market, available homes, and other relevant matters before they become your client. Give yourself reasons to reach out again in the future.
Converting leads is a process that requires patience and ongoing work. You won’t acquire a client every day and out of the blue. It takes time, and all you can do is keep yourself in contact with where your leads currently stand in their decision process, making sure to regularly follow up with them based on their moving timelines and situations. Be professional, polite, consistent, and wait until the timing is right for them to enter the market. And, when they do, you will be all set to guide them through the process of purchasing or selling their home.