All real estate businesses are unique in their own way due to the variables involved. Selling in different territories, to different audiences, various property types etc. And that can be the same for the leads your business acquires.
Make sure that you do not cut all your lead sources or you’ll be making a big mistake. Leads typically take months to convert to a sale. Make sure to not panic and cancel all your marketing efforts without thinking beforehand. The leads that are coming to you now will be very useful when the market picks up in a few months time.
In this article we’re going to discuss the best options for managing leads through a range of issues and timescales.
Five important sales metrics you should track and take note of are:
Managing leads effectively has never been more important. For estate agents the market has recently taken a hit due to the ongoing global pandemic that has affected nearly everyone. One of the overwhelming issues that estate agents are seeing right now is that leads are coming in but they are unable to convert due to travel risks and restrictions. Here are a few pointers to keep those leads hot and raring to go when the market picks up. Make no mistake, if you can make it through this tough period, you will be able to reap the rewards of a property boom.
Buying property is NOT an easy decision to make for the majority of people. If someone is interested in one of your properties then you must point them down a flexible and perfectly timed sales funnel. Due to reasons out of our control this potential buyer may not be able to view and visit the property, but that is not the end of your opportunity to sell. Three in ten (30%) buyers only viewed the property they went on to buy once before making an offer in the UK (GOV).
Due to the current pandemic people’s interest may dwindle. It is your job to make sure that this is not permanent. If it has been a while, ring them up and say hi! Ask if they are still looking for property, mention that you’re operating as normal and have multiple homes available in areas the user was searching and enquiring on.
Educate your leads. You and your team are aware of the property market within your territories but someone abroad or uneducated in the industry will not be. Provide local market reports, display valuable information that could swing someone into making a decision.
Another way you can uphold interest and keep leads moving in the right direction is to share testimonials and free real estate resources. This can help to build trust and get your businesses branding back in front of the user so if they have any thoughts about buying a new home, your brand sticks out.
As mentioned previously, sales rarely happen overnight. Good things take time. It is important that if a lead shows great intent and is very interested, you take time to nurture the lead, sending emails, calling them and giving them as much information as possible without overdoing it. Their interest could be crushed if you make the wrong moves.
Leads normally take time to convert, so why the rush? It is true that due to COVID-19 people are less willing to buy due to not being able to view or travel to a potential new home. It is important to remain positive and remember that this pandemic will end and when it does, if you have been looking after and nurturing leads, they will be ready to purchase. If you left them out in the cold after they expressed their concerns they will likely search elsewhere.
Do not flood the user’s inbox with emails. It’s important to send enough emails to stay fresh in the leads’ mind but not too many to cause them to get annoyed whenever they see your business’ logo. This leads us into the next point…
As mentioned, you must chase and follow up on leads and enquiries but make sure to do it in an orderly fashion.
Follow Up Times
When it comes to an enquiry it is important to first follow up the contact within 12 hours maximum, within business hours. This will show to potential buyers that you have found their enquiry and you’re keen to help them. Most people end up doing business with the first real estate agent they speak to, so fast response is crucial. Research shows many people have come to expect a response from real estate agents within an hour of requesting information.
Create A Useful Follow-Up Package
Be sure to have presentation materials ready to send to leads. This is a great way to nurture leads and display your professional knowledge of property in the area. Created branded letters, reports and other marketing materials.
Manage Lead Effectively
Finally, you must make sure to manage your leads in a CRM. This will allow for you to make sure you do not miss any vital information and any member of your team can find the status of a lead without any trouble. One of the best CRM to manage leads would be HubSpot.
HubSpot has everything you could ever want in a CRM, with ease. Cut down on the amount of time you spend preparing to make a sales call or send an email. HubSpot CRM automatically publishes emails, recorded calls, and sales notes to a contact’s timeline so you can quickly find the information you need to personalize your follow-up. With contact details, company information, and historical communication right at your fingertips, you can easily revive cold leads or tailor your pitch to new prospects without hunting for an opener.
Keeping your leads engaged and aware of your brand will allow you to capitalise when the time is right.