Quality leads are gold in the world of real estate. But what are the best practices for following up? Find out everything you need to know here.
High-quality and responsive leads are gold in the world of real estate. Agents work hard to set themselves up for success by developing effective marketing campaigns. However, some agents make the mistake of stopping there and putting their success in the hands of chance.
It is essential to forge onward and take your success into your own hands. This can be done by following up on the leads generated by your marketing campaign.
While it is true that a promising lead can turn out to be a dud and weak leads can end up a major client, it is vital for agents not to succumb to worry about which lead will turn out which way. All you need to do is follow up.
Reasons to Invest in Your Leads
Your leads are the very thing that keeps your real estate business going. Without them, you would have no business growth, no client base growth, and no sales.
Sure, there are different types of leads. Some leads are strong, and others are weak. But all leads can grow into something more, and it is your job to hone in on that opportunity to convince your leads to hire you.
There are quite a few ways to invest in and follow up with your leads. Some real estate agents use advanced CRM (customer relationship management) systems, some use website, and social media analytics, some take the time to engage with leads personally. Others use a mix of these methods.
Best Practices for Following Up with Leads
No matter which method or methods an agent chooses to engage with their leads, they should follow a few guidelines when following up.
Best Practices Before Following Up
Before following up with a lead, the first thing an agent should keep in mind is the need.
What is it that the lead needs from you, and how can you meet that need? Once you know this information, you will know exactly where to meet your lead and be better equipped to turn them into a client.
Your lead may need a highly experienced and knowledgeable agent who has been around for a long time and knows the ins and outs of real estate exceptionally well. Or, your lead may need an agent who specializes in luxury properties and celebrity clients.
Once you know what your leads need, you will be better prepared to follow up with them and get them to convert. And while this factor is a major one, there are other important guidelines to follow for a successful follow-up.
Use available data to learn about your target audience as much as you possibly can to identify buyers and sellers who are most likely to convert. Knowing who your audience is will also help you channel your time, energy, and resources into pursuing valuable leads. Properly targeted leads will also reap the reward of time well spent speaking with, and hopefully hiring, you.
Understanding what you want to accomplish and how you want to achieve it is another critical pre-follow-up factor. Have a firm grasp on the objectives of your marketing campaign and list out your conversion goals. Do you want your leads to hire you to buy their home or sell their home? Do you want to be a resource for your community?
Determine when you will follow up on your leads. This will help you remain consistent, stay on top of your leads, and keep you fresh on your leads’ minds.
Best Practices During and After Follow Up
Unless you are going door to door or cold calling, many leads for real estate agents come from the Internet. It is important to understand that Internet users expect a prompt response, or they will likely forget about you and your services. A good rule of thumb is to reply to your lead, personally or via automated email or SMS, in 12 to 24 hours.
It is essential to realize that when your lead is ready to talk with you, they are more than likely to convert. They know what they want, they are serious about getting it, and they know that you will help them obtain their goal. This is a golden sign of a quality lead.
Do not let these leads go to waste by allowing too much time pass between their initial email, message, or phone call.
Lead Nurturing Campaigns
Email lead nurturing campaigns are a great way to keep the conversation going after a lead has begun to engage with you. These campaigns work through a customized and automated system that allows you to confirm a conversion quickly and easily (signing up for an open house), follow up after a conversion (set up a consultation), and more.
Because these campaigns are automated, you do not need to worry about personally responding right away: these personalized emails do that for you.
One effective method in keeping leads engaged before, during, and after they convert is through free content. Whether this is unlocked access to an e-book, exclusive access to a social media group or monthly newsletters rich with information and resources, accessible and helpful content is gold.
Additionally, if agents make their free content available to anyone, they may find that the content itself generates new leads. The content can also help your website rank higher in the SERPs, set you apart as an authority in the areas you specialize in, and provide leverage to convince leads to choose you over your competitors.
Depending on where the lead came from, different leads require different follow-ups. A lead who filled out an opt-in email campaign form requires further communication than a lead who contacted you directly through social media.
You can organize each lead that comes through by placing them in different groups. You could label the leads hot, warm, and cold. Or you could label them ready, on the fence, and needs convincing. Once the leads are organized, you can tailor your communications accordingly.
Do not let your leads slip through the cracks! Track your leads with a CRM or with an Excel spreadsheet. Simply notate who the lead is, how they came to you, when you spoke last, any notes about the conversation, and when you need to follow up again.
Learn to Let Go
Some leads simply will not work out, and that is okay. Leads who turn out to be uninterested or unavailable may be interested or available in the future and will be more likely to have a conversation if they aren’t annoyed with excessive persistence.
That being said, some seemingly cold leads may just require more convincing than others. If they are not motivated, consider the reason why. Are they uncertain about something? Is something standing in their way? Find out how you can be a resource and help them find a solution to their obstacle. Or, perhaps they are not the decision-maker. A simple solution is to schedule a conversation with the decision-maker in the days ahead.
The Right Lead Begins Right Now
Leads are crucial for any business, especially real estate. How well an agent follows up with their leads can make or break their client base and sales record. By following these guidelines for lead follow-up, agents are sure to reap higher quality leads, establish strong communication patterns, and generate more sales.