Lead conversion is one of the keys to a successful real estate business.
Here are five ways that you can increase your conversion rate.
Leads are the lifeblood of every real estate agent’s business. It’s where the central focus of most successful agents is. However, generating a lead only to lose it in the conversion process is devastating, time-consuming, and expensive. Here are five quick tips to ABC (Always Be Closing) all of those leads that you’re generating:
1. Accept all leads. We get so caught up in trying to determine whether each lead is good or bad that we miss out on a lot of them entirely. Accept every single lead, even those ones with an email like MickeyMouse@gmail.com. Every one of those leads matters and is valuable. If you pick and choose which leads to pursue, you won’t be focused on converting.
2. Do a little homework. The beauty of the digital age is that it allows you to do some checking into these leads. So many systems can show you how many times someone has viewed a particular property and what areas they are looking for homes in. Vet your lead a little further so you can be of more value when you do interact with them.
3. Reach out the right way and do it quickly. Speed is the name of the game in lead conversion. If you wait several hours, that lead could already be lost. So many agents stop following up after one or two attempts to contact. According to a study by the Harvard School of Business, there was an 80% greater conversion rate for agents who held on to those leads and contacted them eight to 10 times. For you to differentiate yourself among the crowd to convert more leads, you need to reach that five to 10 touch range to beat out your competitor. If a lead gives you a phone number, start off your correspondence with a relevant text. If they’re looking in a certain area, show them other homes in that area that are similar. It’s an open-ended lead conversion strategy that works.
4. Treat online leads like sign calls. Just like sign calls in years past, you can use these leads to show your seller that they know how often you’ve been contacted about their home and what inquiries come from what sources. It’s invaluable for you to retain your sellers and reach a price reduction down the road if the property isn’t selling as quickly as you’d like.
5. Increase your lead traffic by generating a social media blitz. RE/MAX offers an initial broadcast to their agents through a platform called Adworks. This broadcasts the listing out to all social media platforms and follows that target market through those neighborhoods. Imagine being able to give your sellers that boost at the very onset of the listing. Is your company doing that for you?
These are just a few strategies that you can use to convert a greater number of leads. We probably teach six different classes to our agents on lead conversion alone. If you need more support and want to learn how to generate and convert more leads, it might be time to explore your options so that you can align yourself with a company that will help you do just that. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.