The Number One Mistake that Agents Make with Leads
Real estate agents typically spend a long time building up leads. It involves talking to people, getting contact details and then hoping that you can find the right match for them. But actually, real estate agents are doing it all wrong.
The big mistake that a real estate broker is making is not looking after the leads that they already have.
Finding Real Estate Leads
A real estate agent can spend a long time getting that valuable email address or phone. You spend hours getting the details, updating your website for SEO, advertising, looking for people who are hoping to buy or sell, and then suddenly it goes cold. Another bad lead.
And this is where the mistake is. There is no such thing as a `bad lead`. The `bad lead` isn`t bad, rotten to the core. It is just a lead which isn`t ready yet. By thinking of it in that way, you can begin to nurture your so-called `bad leads` so that when they are ready, they will come to you.
Buying a property is a big decision that often takes a long time to think about and so, to look at it another way it is unlikely that you are going to catch someone at exactly the right time. By nurturing those leads which you have worked so hard to get, you will find that they come to you when they are ready, and – as long as you provide a good service – are more likely to refer you to their families and friends.
Everybody has their own ideas and best ways to nurture their leads, and it can seem like a fruitless task at times. It is, however, a lot more beneficial than to keep looking for new leads.
It is recommended that instead of spending almost all of your time trying to create new leads, you should spend about 20% of your time doing this, and 80% nurturing. You will find that it pays off!
Facebook is a great way to nurture your leads as firstly, every name is a real person – unlike almost anywhere else. It also gives you the chance to get to know people (or leads), engage and nurture them until they are ready.
Other successful real estate agents rely on following up – although not too much to be annoying. Using a lead management system should help you to stay organised and sending emails, cards through snail mail or engaging via social media are great ways to keep in touch and nurture.
You can also keep your leads up to date with what is going on in the real estate market, showing how it is changing, meaning that they know what they are expecting at the time when they are ready to buy or sell.
Whilst lead nurturing might not have the instant return that constant lead searching has, real estate agents are much better off in the long run. They can create sales and repeat sales for themselves as well as earn referrals, giving a good return for much less effort.