As we approach the end of the third quarter, it’s time to reflect. How have your leads been treating you? Now, more than ever, the quality of your real estate leads is essential; however, spending a lot of money on lead sources does not guarantee a high conversion rate. A small percentage of leads will convert right away, while the rest require some time. Therefore, conversion rates increase the more we connect with these leads and build relationships. This takes time and effort.
Essentially, to get your money’s worth, you need to go that extra mile and ensure that your opportunities within your lead pool are not wasted. So, how do you go about doing this?
- Determine how you want to tackle your calls and live appointments. If you work alone, designate a specific amount of time you want to spend making calls. Also, specify what kind of calls they are. Are they follow-up calls? Are they cold calls? If you have a team in place, perhaps you could have someone dedicated to follow-up calls to nurture your warm leads. A virtual assistant can handle your prospecting as well. Delegate these tasks, but determine which ones would benefit from your personal touch so that you can still be involved in the process.
- Pay attention to the leads that you generate from your website. According to a National Association of REALTORS® (NAR) study, a majority of homebuyers begin their search online. A buyer potentially spends anywhere between two and 18 months searching for homes, so if someone takes the time to register on your website, be sure to give them proper attention. Reaching out to these leads sends a great message, providing a good basis to begin building a relationship with your potential prospect, especially since our business is built on relationships.
- Find ways to engage with your leads. Be creative and consistent, send out emails, engage with them on social media and send an occasional text message. There are so many ways you can reach out to your leads. You can do it yourself or have one of your team members focus on communicating with them. Your virtual assistant can even be in charge of engaging on social media if you create a schedule they can follow to send out monthly emails.
- Never give up on your leads unless they tell you to go away and they truly don’t require your services. Again, consistency is key. Make yourself enough of a presence in their lives so that when the time comes and they are ready to make a decision, they won’t think twice about approaching you.
Always Have a Plan
Make sure you have a clear plan for executing each step mentioned above. Make sure your team is onboard and clearly understands your goals. By doing so, you are ensuring that you are making the most of your leads, and your ROI on them will surely increase.
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