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Lead Conversion

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Are You Missing Potential Leads?

March 21, 2014

Author: Jolene Quinn, eBusiness Manager of Alain Pinel Realtors
Are you receiving calls on your listing and your listing is pending? What are you saying to these clients? “Thank you for calling but the property has an accepted offer”. Click
These are prospective clients that you can represent as buyers!  Your response should be “The property has an accepted offer but I know of a similar home in the area. Would you be interested in seeing it?”

  • If they are not working with an agent, offer to show them another home. This is a client who called you who needs assistance finding a home! This is a great lead!
  • Sometimes they already have an agent. Always be kind. You can answer a few questions then refer them back to their agent. If their agent drops the ball then they will think of you if they want to work with a different agent.

Not interested in representing buyers?

  • Refer them to a buyer’s agent in your office. Not only can you get a referral fee from the agent but you’re also building rapport with your peers.  Not to mention, helping the client!
  • When you speak to the client, tell them you work with a great buyer’s agent that you would be happy to refer them too. Make sure to let them know the name of the agent and give a nice introduction.  This makes it more comfortable for both the client and the agent.

Asking these questions before you pass them off to your buyer’s agent helps the agent:

  • What area are you looking in?
  • What price range would you like to stay under?
  • Are you pre-approved for your home loan should you need one?
  • How many beds and baths do you need?
  • Do you prefer a condo or single family home?
    • Do you have pets? (if interested in condo)

Above all, make sure you respond to client inquiries quickly!  In today’s world, clients expect a response within minutes and will quickly move on to another company if they don’t hear from you.  Have a process in place with your referring buyer’s agent so the agent understands a quick response is mandatory if you are to continue referring clients to them.


About Author:

Jolene Quinn is the eBusiness Manager at Alain Pinel Realtors. She has almost 20 years in real estate and over 13 years working directly with internet leads. Prior to working with APR she managed the eBusiness department of a large real estate company that spanned 3 states. She was responsible for taking the department from ground level to one of the most successful eBusiness departments in the nation. 

Industry Insights Marketing and Technology Insights Sales Insights

How Do I Convert My Internet Leads?

December 3, 2013

Author: Jolene Quinn, eBusiness Manager of Alain Pinel Realtors

The most common statement I hear from agents is:

“My online leads never pan out!

 
It’s the most misunderstood type of “client” in the real estate industry and yet, it is probably now the most common!  So how do you turn an internet lead into a sale?  Build a relationship! All the statistics say that clients are starting their search anywhere from a couple of months to a couple of years prior to actually purchasing their home. They use the internet to research and get facts. Many are first-time home buyers who don’t fully understand the process and they are very hesitant to give out their contact information. So when a client does contact us, it’s usually an email with no phone number or a quick call to ask a few questions. Consider this first contact like the first “hand-shake” when you meet someone face-to-face.
First impressions are everything! And you have but a moment to make it a good one “virtually”! Delivering a wonderful experience from the first phone call, email or text is very important if you want to turn a lead into a client. Clients no longer choose an agent for information. Information is just a click away! If you manage to make that first impression a good one, chances are you will have a client you can build a relationship with and will be loyal to you for the long-haul.

  • Learn how to make a good first impression virtually. Generally just be cordial and knowledgeable.
  • Take them seriously even if they aren’t pre-approved. Most don’t understand the importance of pre-approval until they build a relationship with an agent, then they get it.
  • Respond as quickly as you can to calls, emails and texts. Even if it’s a quick note to say you got their message and will get back to them.
  • Ask how they would like you to correspond and how often.
  • Have the skill and knowledge of your area. They don’t realize you viewed most of the homes in your area or know what the home next door sold for.
  • Don’t automate everything. Mix in personal text and calls.
  • Don’t give up and think the client isn’t serious just because you haven’t heard from them in a while. Let the client know it’s okay to contact you no matter how long it’s been.
  • Be patient. It may not be a quick sale. Each client is unique and has their own timeline.
  • Build a good relationship with your client. This is important if you want them to be loyal to you and not seek another agent when they’re ready.
  • Build your relationship with other agents! Agent relationships are just as important as client relationships. Everyone wants to work with an agent that is well-liked and respected.

Use this information to build a better relationship with your internet leads. Distinguish yourself by providing clients with great service! Pretty soon you won’t need to chase your clients, they’ll already be in your pipeline and converting to a sale as time goes on.


About Author:

Jolene Quinn is the eBusiness Manager at Alain Pinel Realtors. She has almost 20 years in real estate and over 13 years working directly with internet leads. Prior to working with APR she managed the eBusiness department of a large real estate company that spanned 3 states. She was responsible for taking the department from ground level to one of the most successful eBusiness departments in the nation. 

Business Planning Insights Industry Insights Sales Insights

Early Bird Gets the Lead

October 12, 2012

The evidence is in – when it comes to internet leads – the early birds gets the worm.
Often salespeople argue that if you’re a strong salesperson, even if you call a lead late, you’ll have a higher chance of closing a lead than someone who contacts them earlier – but so far, the evidence suggests otherwise. Internet consumers not only want, but expect almost immediate responses to their inquiries – and any response over 15 minutes greatly reduces the chance of closing that lead.
Let’s look at the internet consumer:

  • Internet consumers often submit 3-5 lead forms, creating multiple “leads” for multiple agents
  • In a 2011 California Association of Realtors survey of buyers, when asked why they chose their agent, responsiveness played a major role in two of the top five factors named:

What Determines How Buyers Chose Their Agent:
1. Most responsive (28%)
2. Worked with agent before (18%)
3. First to respond (17%)
4. Most agressive (16%)
5. Most knowledgeable (6%)

  •  Additionally, the CAR survey showed that 36% of buyers expected an instant response from agents on internet requests – and 96% expected a response within 4 hours
  • According to MIT*, the odds of contacting a lead more than 5 minutes versus 30 minutes drops 100 times. From 5 to 10 minutes the odds decrease by 5 times.
  • The first to contact a lead increases conversion 238%, speed of response is THE best predictor of a closed transaction
The statistics are clear – the modern internet consumer moves fast – and expects you do too. When they choose to submit any sort of lead from they want information right then. If you aren’t providing it for them, not only are those leads quickly dying, but they’re likely to be picked up by another agent. In that same CAR survey, 86% of leads felt that response time was “extremely important” when deciding their real estate agent.

While perhaps it’s true that not too long ago, a better salesperson could close a lead more frequently even if contacting a lead later – in this rapidly changing industry – that is not what consumers want. An easy way to increase your business and start closing more leads today is to decrease the waiting time before responding to leads. Every agent should make it their goal to respond to any lead within 15 minutes.
Photo Credit: Corn Exchange Clock Bristol (Rick Crowley) / CC BY-SA 2.0
* Research Study by James  Oldroyd, PHD, MIT, October 16, 2007