Lead generation is a key aspect of being a real estate agent, and it requires persistence and great skills as an agent to achieve consistently. Real estate agents should spare no resources when it comes to creating a steady flow of leads.
From creating resourceful marketing channels to buying real estate leads online, there are multiple ways to generate quality leads to keep the business’ growth constantly increasing.
This article will delve into how people can decipher which are high-quality leads in real estate so that agents know to prioritize and nurture them.
What are Real Estate Leads?
Real estate leads are conversions that come through from real estate marketing channels. These conversions can be anything based on the type of marketing the real estate business is running.
Some marketing channels that are usually run by real estate businesses looking for leads are direct mail, SMS campaigns, Email campaigns, cold-calling, PPC, and real estate website lead forms. However, there are many other ways to run marketing channels to generate leads.
Let’s say your business is running a website and someone browsing the website has filled out a form to connect with your business. This will count as a conversion to a lead for your business, after which real estate agents can look to nurture them and turn them into a client.
However, not all leads will convert to clients and there are three types of leads.
- Hot Leads: Hot leads are leads that show a keen interest in your business and in buying or selling properties.
- Warm Leads: These are leads that show some interest in purchasing or selling properties but need a bit of time and nurturing to get there.
- Cold Leads: Cold leads involve people who are not interested in currently looking to purchase or sell properties but could be in the future. It is important to follow up with them regularly in case there is a chance of it panning out.
Understanding Lead Quality
Understanding whether or not a lead has quality for you needs to be a priority for the business. The most important part about this is that the real estate agent and the business needs to know beforehand who they want in a lead and what they would need to have to qualify them as a lead.
What Does The Lead Expect?
Finding out what the lead expects is a great start to understanding whether or not they fit the bill as a quality lead. Real estate is a very social field and people need to be able to communicate with each other in order for it to go down well.
A real estate agent needs to be able to talk and figure out what the potential client is seeking from the agent and the agent can then figure out if that falls within the scope of his work and would be worthwhile for him.
Does the Lead Fit Your Customer Avatar?
Every business should have an ideal customer that they want to meet every time they deal with a new lead. A customer avatar is the ideal type of client a business would want for itself, and as long as a new lead fills out most of this aspect, that is a good start.
Some of the best CRMs for real estate agents on the market have a feature for list stacking (can also be found individually) that allows multiple lists to be compiled and find the most motivated buyers or sellers based on a few criteria.
By using CRM systems or manually deciphering it out themself, a real estate agent can seek out individuals who align with their ideal customer avatar.
What Do You Expect From the Lead?
There is only so much you can gather from socializing with potential clients on your real estate social media profile or real estate website’s form fill-ups. Getting to know a lead and assessing their quality requires an in-depth look into their expectations.
However, it is also important to convey your needs to the lead and understand whether or not the lead will fulfill them. For example, a real estate agent needs to understand the purchasing intent of the lead. How willing are they to go through into a deal? How willing are they to take the time to work this out optimally?
Finding answers to these questions will allow a real estate agent to remain transparent with their potential client, which will inevitably build a better relationship with them if things do pan out.
Conclusion
Overall, real estate agents need leads to help keep their businesses running and also growing. However, just any leads will not work. If a business mostly receives cold leads, that means it is failing to reach people with actual real estate needs.
Thus, it is key to revamp a business’ marketing to channel better quality leads into the business or to buy real estate leads to help the process along. Otherwise, the business will be stuck wasting resources and time on people who will need years to buy or sell, if they do at all.
