The internet is an infinite mine for real estate leads and can be an exciting way to earn new business through lead generation. It can also be a difficult task for those without training, understanding or the tools to manage online lead generation. 90% of consumers are looking for their new home online. This is before they ever pick up a phone or reach out to a real estate agent. The rapidly evolving online world makes it imperative that you create a system to grab and retain the attention of today’s home buyer.
If you have hired a lead coordinator, bought smart phones for your sales associates and created back office systems to distribute leads, you may believe that your job is done. You would be wrong. Building a successful online lead generation system takes time, skill and management.
Shift your focus from lead generation for a moment to lead management. How are you handling these leads and what could you do better? Let’s begin by overcoming a few common mistakes you might have and find solutions that allow for better lead management and performance.
Delusion 1: It is about lead generation, not lead management
High quality lead generation are very important. But how you manage your incoming leads is also critical to the success of your overall lead system. Stop worrying about bringing in more and more leads, but try to obtain a managable number of high quality leads and focus on cultivating these leads.
Many real estate professionals make the mistake of taking the lead, making a phone call and then tossing it aside. The reason for this behavior is that real estate professionals get discouraged by being turned down all the time. This has to do with the quality of the leads. We at Immowi strongly believe that motivation and a good working sales team starts with high quality leads. This boosts efficiency and positivtiy in your workforce.
Also, cultivating a lead requires time and effort. Whether the consumer is interested in purchasing one week or one year from now still necessitates a system where you remain top of mind. Use touch point emails and phone calls to build a relationship with your potential client. Offer valuable information that positions you as the local real estate expert.
Delusion 2 – The silver bullet of marketing
As marketers, we are always looking for that silver bullet; the one system or tool that will solve all of our communication problems. While automation is beneficial, it is only a complementary solution to human interaction. As our world continues to move at a faster pace than ever before, we have the tendency as marketers to automate everything we possibly can. This is a huge strategic error in converting leads.
Automatic responses and drip systems will assist in keeping you in front of your prospect, but will never build relationships the way simply picking up the phone can. As you build your follow-up system, make sure weekly calls are part of your strategy. Intersperse calls with emails, direct mail and any social media campaigns easily, through the MyImmowi platform.
Delusion 3 – The vast majority of leads are rubbish.
The truth is; online lead generation can be misunderstood because many real estate professionals are ill prepared to handle them. They dive into online lead generation with no concept of what it takes to incubate and covert this challenging lead.
For example, if a lead says they do not want to buy for four months, the typical salesperson will give up after only a few weeks. If a lead says they want to have information on financing, instead of sending articles and tips, agents set up a search and send a list of properties. In order to convert a lead, you must understand the needs of the consumer.
At Immowi we absorb statistics and data to better understand your consumer market segment, we let Artificial Intelligence choose the clientele that matches your project and through our experience we know the buying and selling habits of your market.
Delusion 4 – Sales people automatically know how to convert an online lead
The average real estate professional does not step into the business with a background in converting online leads. Sales managers must take a proactive stance in training sales people how to converse and build relationships over the phone.
A training solution includes:
- How to immediately qualify or disqualify a lead
- How to nurture and convert a lead
- Understanding what a call to action is and how to position them properly
- Creating a solid campaign that includes drip marketing, phone calls and direct mail
- Setting expectations on conversion rates and the time it will take from start to finish
Now is a good time to clean up leads that have been sitting in your CRM system. Organize, purge and get in touch with those leads. Focus on quality lead generation and conversion. Build your system and create consistency in your communication. The online lead is counting on you.