There are many types of leads that arise from many places in real estate, including those from Facebook, and calls that were made after someone noticed your yard sign. The next important step is establishing further contact with them, and it’s helpful to have a standard procedure to guide the process.
Systematize it
It is essential to create a system when formulating a plan for following up with leads. It is simple to connect your list of contacts to your customer relationship management system to stay organized. This is key.
If there is not an organized method being employed at the moment, you might discover that going without any type of preparation is not meeting your objectives. Setting up a framework will have a substantial effect on changing leads into sales.
Buying online real estate leads and how to convert them
If you decide to buy leads, there are two kinds. You can buy “Premium Leads” from websites such as Zillow and Realtor.com. You can generally expect to pay between $100 and $300 for each lead. These Premium Leads have a higher conversion rate.
Someone who visits your website must provide their contact information prior to gaining access to the homes you are offering for sale.
This approach will produce a large number of potential customers, however turning them into actual customers is a different matter. With forced registration, it costs about $10 per lead.
A potential homebuyer has expressed interest in finding a property and has asked for help from a real estate agent. Both Realtor.com and Zillow have captured this request. These Premium Leads are probably more intent on finding a home. A customer service call will occur when you make contact with your Premium Lead.
You are responding to the lead’s request to have a phone conversation! Therefore, it’s usually a much nicer conversation as they have been anticipating it.
Jumping on the lead fast is absolutely crucial. Speed to lead matters. These leads cost 10 to 15 times more, but they are also drastically simpler to turn into customers.
With Forced Registration Leads, they can supply inaccurate data simply to access and examine your website. No one is expecting you to make a call to them. They did not ask to be called. They solely desired to view the properties available on your website.
For this reason, it’s a more challenging lead call. Additional communication is necessary with this lead, which will involve an abundance of effort. However, it is much cheaper than a Premium Lead.
The myth about online leads
Do not assume that pursuing leads through the internet will be any easier than dealing with For-Sale-By-Owners or Expired Listings. Many times, Real Estate Agents believe that purchasing leads on the internet will be some kind of miracle cure. You will be contacting the same number of people with these internet-based leads.
Surprisingly, the demand for telephone conversations is higher due to the presence of the internet. You will produce a large number of potential contacts which will require you to use the phone to sift through them. It is a strange paradox, and not something that can be expected, but the internet has increased the need for telephones in this manner.
Speed to Lead
It’s worth saying again: speed to lead is key. Big time. Mastering the technique for turning real estate leads into clients could completely transform the outcome. If you examine the info in the infographic, it’s clear that the chance of transforming a lead deteriorates significantly with time.
It is expected that one should reply to a prospective buyer within five minutes, although some advocate that three minutes is the ideal response time. Your supervisor requested assistance from you in this fast-paced world we live in. They are waiting for you to respond. In approximately five minutes, they will probably proceed to their following task or activity.
Approximately 60 minutes later, they were concentrating on a totally unique topic and had forgotten all about the real estate market. They encountered somebody else who answered rapidly and was able to assist them, which was even more discouraging.
Lead Nurturing Follow Up Campaigns
The higher frequency of contact you have with your prospective customer, the more likelihood there is for them to convert into an actual customer. It’s a fact backed up by statistics.
Most real estate agents give up on a lead if it doesn’t result in a sale following their initial telephone call. If you keep pursuing your objective, it is likely that you will achieve a sale. This is how to turn potential real estate buyers into actual customers.
Most real estate agents are not taking advantage of the opportunity to cultivate leads. Be aware that if you contact a person who has registered for something, they are probably still in the initial stages of their research. Prior to the introduction of the internet, real estate agents never received prospects at such an early stage!
Tending to these leads over the long haul and showing how you can benefit them is essential to making them aware of why they would need you on their side. Ensuring that you are remembered first when they are prepared.
The task lies in following up consistently with your nurture method. You should have an organized process established to make sure that you are staying in touch with the proper speed that corresponds to the urgency of your customer (which you should have already established during the initial call). You can break it into categories based on urgency.
For example, we’ve broken leads into four categories. The “A Leads” are the most promising prospects and they intend to proceed with their plan this month. “B Leads” plan to move in 30-90 days. “The people in charge of the C Leads project are anticipating that their relocation will take place within a period of three to nine months.”
“D Leads” are prospects that are looking to move within a period of nine to 18 months in the future. Once you have organized your customer, you can enter all of this info in your Customer Relationship Management program to hold you accountable.
React to Leads Immediately
It is absolutely essential that we go over the initial pointer when discussing tactics for real estate agents – quickly contacting leads as soon as they enter your field of vision.
This could be accomplished using a Facebook commercial, responding to an automated message campaign, or numerous additional tactics. Whatever the case, time is always of the essence.
The vast majority (71%) of potential clients attracted to a website do not result in a sale because the company fails to respond quickly enough. Moreover, if you telephone your possible customers within 60 seconds of their digital inquiry, you could increase your conversions by almost four times.
If you are in a rush or have been detained, at the very least, send a message via text. That initial contact is critical for success with that sale prospect.
Hustle, Hustle, Hustle During the First 10 Days
We have two pieces of advice for your first interactions with potential customers. It is commonly accepted that the initial 10 days of a real estate venture are crucial, so it is sensible to make concerted efforts to communicate with the lead during this period, known as the “10 Days of Pain”.
When possible, it is preferable to have a personal conversation with the lead or even meet with them personally.
Allow the person to move at their own pace and pull back if they appear to not be in a position to go ahead with whatever the situation calls for. Here is some email guidance that can help you in this regard. Otherwise, you should work quickly in the initial 10 days following communication from them.
Start a Facebook Group for Real Estate in Your Area
Nowadays, if you don’t have a presence on the internet, any advice will be of no assistance. Here are some telling statistics from the National Association of Realtors:
- The first thing 44% of buyers do when looking for a new home is look online.
- This amount represents 53% of young boomers in the market.
- 95% of all buyers consult websites during the buying process – that’s more than those that rely on Realtors.
- 56% of Millennial buyers found their homes on the Internet.
Put shortly, if you do not have a place on the Internet, your presence is practically non-existent. The great thing is that creating a realtor website has become much simpler now. This can be an immensely beneficial thing for various motivations, not completely excluding the fact that it provides you with a location to direct prospects.
By doing this, you can obtain your free incentive, register for a series of automated emails, and review your prior jobs. We’ll cover these things momentarily. It can be said that there is a great deal of rivalry between websites for realtors.
It can be difficult to generate any web traffic because the majority of Google’s first page is dominated by websites like Zillow and Trulia. This is why real estate agents should take advantage of the chance presented by Facebook.
It is possible to compose an entire article dedicated to insights on real estate agents that could arise from the power of this one platform. The initial move is to make a Facebook page for your real estate enterprise.
This activity won’t cost you a dime, and the advice we offer is extremely valuable – making this page more valuable than any website could be. Next, create Facebook ads for your page. Although these items may not be given away for no cost, they usually cost very little money.
The greatest advantage of all is that there are innumerable tactics you can employ to reach your desired group of people with Facebook ads. It will be much simpler to turn your prospects into real customers and gain an improved rate of return on investment with this amount of exactness.
Once you garner some likes on your page, you will have the knowledge of the people on Facebook that find your services appealing. You can then utilize Facebook Custom Audiences to identify additional individuals comparable to that one.
Once enough people have become invested in home ownership in your locality, the possibilities are endless. You could put on your open houses using Facebook Live, so no one will be excluded.
Ultimately, having a Facebook page for your business will enable you to take advantage of the incredible potential of social proof. To put it simply, the more people that come across your page because of interaction from its members, the more confident they will feel in your capabilities as an expert.
They reason that if other people have confidence in this realtor, that takes care of half the effort involved in converting a prospect. We have talked extensively about Facebook since it is very helpful in obtaining contact details from prospective customers.
Create a Helpful Lead Magnet
You can blanket everyone in your Facebook Group or Page with the same message, but you won’t be able to sort them into different categories. Having their contact info will ensure you have it, regardless of whether or not they decide to delete their Facebook account.
Therefore, the next piece of advice for real estate agents is to design a lead magnet. This content is designed to draw in potential leads. Subsequent to supplying their contact data, this is the information they get.
The more effective your incentive is, the bigger the number of leads you can get. Nevertheless, improved lead magnets lead to much more effective conversions. Lead magnets can be incredibly powerful.
Here are some examples of lead magnets you can offer your Facebook following:
- Comparative Analyses of Properties
- Guide for Remodeling
- Guide to Buying a Second Home
- Home Seller’s Guide
- Home Buyer’s Guide
- Relocation Tips
- Reports on Local Markets
- Tips for Taking Out a Mortgage
You have a variety of choices available for the lead magnet. This is an ideal chance to divide your Facebook supporters. People who are looking for advice about moving to a different location form a distinct group.
People who are first-time mortgage holders as well as those purchasing their second residence are in the same boat.
By utilizing a reliable CRM system, you can differentiate each sector and create bespoke advertising plans that best suit each one. Mentioning it, our collection of private knowledge will now include a wonderful possibility for doing so.
Summary
You now possess seven pieces of advice that an estate agent can provide to help increase your monthly conversions. There is no obstacle preventing you from putting all of these strategies into practice – starting a Facebook group, using targeted advertisements, and offering lead magnets.
Nonetheless, if you possess a strong CRM (Client Relationship Management) system geared towards this field, you can quickly and efficiently optimize this guidance and observe the greatest success in a shorter duration.
