Truth be told, online leads does not immediately convert to sales. It takes time, effort and patience for leads to materialize and turn into actual deals. Sellers often get hundreds of queries online but only one or two leads will prosper. In reality, agents and sellers also invest in potential clients by giving them attention, nurturing their relationship and developing trust. Nowadays, clients are looking for someone who will go the extra mile in understanding their needs and providing them with options that meet their expectations.
While there is no cookie-cutter approach to converting leads to sales, there are some tricks of the trade to help you out.
1. Time is of the essence. Whenever you receive online leads, your goal should always be to respond within five minutes. Prospective clients normally contact multiple agents at the same time and the first one to respond gets an edge over the others. A study done by MIT’s Dr. James Oldroyd for UK-based lead tracking software company showed that the odds of contacting a lead if he is called within five minutes are 100 times higher compared to another contacted in 30 minutes. It doesn’t even have to be an answer right away. You just have to respond in some way and acknowledge that you’ve received their query and get back to them at the soonest possible time.
2. Be a resource person. Oftentimes, people reaching out to agents online are those with minimal experience in real estate.They have no connections with agents and are basically starting from scratch. They go online to research, talk to as many agents as possible and compare multiple offers. What will set you apart is when you offer valuable insights and expert advice that they couldn’t find anywhere else. Prospective clients will appreciate inputs like, “this property developer has been in the real estate business for X years now and I can say that they deliver quality work based on the properties I’ve seen” or “This condominium developer has lower association fees compared to X developer with the same amenities.”
3. Make sure to follow-up with your online leads. Follow-ups are as important as responding immediately to leads. Prospective clients want to deal with agents who show concern and interest to them. It’s important to make your presence felt by being there every step of the way. Build trust by responding to their questions immediately. You have to be persistent and ask questions that matter to clients—what are their preferred areas? Do they have children? What kind of amenities are they looking for? What are the establishments that should be within close proximity to their property? These types of questions show that you want to help them find a home and you’re not just after the sales.
4. Avoid hard-selling. Persistence doesn’t mean you become overbearing that potential clients treat you as a nuisance. For newbie agents, it’s easy to fall into the trap of hard-selling especially when you’re excited to close your first deal. In sales, it’s important to practice self-restraint and allow clients to have a little breathing room. Follow-ups are okay but if you call five times a day, chances are you’ll have to deal with a pissed client. Also, avoid putting pressure on clients with lines like, “There are only two units left in that condominium so you have to put a reservation now” or “Two other clients are also looking at that property and they may put an offer ahead of you so act fast.”
5. Take advantage of Lamudi’s Lead Management Tool. In today’s rapid technological advancement, it’s important to have tools that will help to achieve your desired results from online leads. Lamudi’s Lead Management Tool is designed to help property sellers manage their listings, follow up leads and generate new business efficiently. Its user-friendly dashboard and integration allow sellers to track their leads and optimize their sales pipeline. Some of its features include Lead Tagging which allows sellers to view prospective buyers who visited their listings and expressed interest, Messaging which connects the seller and buyer via chat, SMS and calls, and Lead Profiling which keeps details specific to each lead such as preferred location, budget range and property size.
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