Real Estate Lead Conversion
November 9, 2011 Leave a comment
Realtor Lead Conversion Tips
There’s nothing like a recession to test everyone’s theories about developing traffic, capturing leads and then converting those leads to real transactions. When times are tough, consumers are more flighty, difficult, choosey, and they have greater expectations. It’s best to let them know that you can fulfill those expectations – that the door is wide open to complete home buying satisfaction. From encouraging them to ask their questions, sending property listings by email, to helping them with financing, you’re ready to help them buy their dream home. Lead conversion may come down to how you present your brand image.
This post is about everything you can do before they call you or register on your site. What comes after first contact depends on your training and sales techniques.
Online searches are in the early buying phase whether they’re just beginning a home search or are looking for details on a specific home for sale. Realtors know they have to be patient and persistent because it may take many months before prospects get serious about buying or selling. By optimizing your website and online lead funnel with the tips below, you’re increasing the odds the prospect will make contact. And by maintaining consistent contact you may end up with a client many months or even a year later.
Number one key to sales conversion is to be selling properties people want. For instance, newer homes in good neighborhoods just seem to sell themselves (although will sell higher with your help). Your conversion rates will have some correlation to the quality of product you’re selling, however you can still improve your lead closing by presenting better value and showing you are a better agent than your competition.
Number two key to sale conversion is to have your site ranking higher on Google, doing Google Adwords ppc, and getting more traffic. That bigger net is bound to catch a few nuggets of gold. Your online lead funnel is your website or websites and they need to collect more traffic.
Number three key is to have lots of properties for sale – your mls listings and your office listings provide the best reason for them to contact you.
Leads won’t happen today just because you’re available and you have lots of homes listed on your site. Your unique value proposition has to be strong. Create the perception that you are offering value. You certainly don’t want to promise to reduce your commissions – as that is only a losing proposition. Demonstrate Value and Competence — It’s important to increase customer service and to demonstrate how you’ve delivered value to your clients. Some agents are doing that through their blogs – discussing sales and how their clients benefitted. The home selling prospect arriving at your site needs to know how you’ve exposed the property to more buyers, and how you’ve manufactured a higher selling price, and how you’ve delivered more value and service. That needs to be spelled out clearly.
And, the home buying prospect needs to know how you’ll help them get their dream home.
Your website should be set to create a dialogue – think about how everything you’re doing online creates a need for them to contact you and begin a relationship.
So how do you increase calls and registrations from these online window shoppers now at your site?
- absolutely incorporate a lead management system that requires registration and indicates to you what they were looking for
- ask an open ended question within your registration pages/popup to help you learn more about what’s really on the prospects mind, and that will require that you contact them
- remind the buying prospect that they are buying in the most advantageous market ever for them – it reminds them of how positive a market it is for them
- remind the selling prospect that they need to make good decisions and get on with their new life
- tell them that delaying the purchase decision isn’t good for them psychogically – someone else will grab that property before they do
- give them direct access to the types of homes they interested in specifically – don’t make them search because search tools on websites are lousy
- don’t rely on your static mls search tools – you need to understand their weakness and do custom programming to improve their conversion power
- visible search links make it real easy for them to find homes with the key features they want or like: 3 bedroom, 4 bedroom, 3 bathroom, renovated kitchen, waterfront, bungalow, new roof, open concept layout, 2 car garage, near school, etc.
- use your lead management tool to qualify inquiries and registrations
- on your mls listings, encourage them to contact you – that you have valuable information
- encourage them to save their home searches on your mls search system – no need to go elsewhere
- write a newsletter and keep them posted on opportunities and news
- discuss your business, what’s happening in your coverage area, and some details of working with clients — they need to see what you’ve been doing this year
- maintaining constant contact with prospects means you’re more aware of how hot they are to buy or sell
- let sellers know of negative and positive events that might ruin the value of their property
- ensure your email updates only go to prospects that will be interested — untargeted emails mean your emails are treated like spam and you’ll get opt outs
- respond immediately after they contact – see what properties they were looking at in your CMS stats/lead management tools
- focus on those prospects/clients with the most search activity on your site
- ensure your replies to them are courteous, professional and grammatically correct – do a spell check
- collect the key conversion information – when do they want to buy, how many bedrooms, what neighbourhood do they like and why, price, and do they need help with financing
Should you use For Sale by Owner websites? Learn more about the best real estate apps including apps from Realtor.ca, Trulia, Zillow, and Realtor.com. Looking for homes in major US and Canadian cities? See the posts on Seattle MLS, San Diego MLS, Los Angeles MLS, Houston MLS, Vancouver MLS, Edmonton MLS, and San Jose MLS.