We’ve heard it said countless of times before: almost 90 percent of all homebuyers start house hunting online, according to the National Association of Realtors. It is therefore fitting to say that using the Internet to capture real estate leads is an exciting way for brokerage firms and property developers to boost their sales. After all, people nowadays are more likely to type search keywords in Google than to pick up a phone. But dealing with Internet leads can also be a major undertaking for many real estate brokers, especially those without training or understanding of how these leads work and how they should be managed and cultivated.
However, often we hear real estate agents say that of the 100 online real estate leads they bought, 40 of them are worthless. But many forget to ask how the other 60 fared? In fact, if you ask any veteran real estate broker (or any veteran salesperson for that matter), getting 60 workable real estate leads from the Internet is amazing, especially so when you only have to close one of those leads to cover your costs.
Why then do so many agents think that online real estate leads are worthless? Because these leads don’t result in instant deals, and lazy people want exactly that.
In the real world, most homebuyers are weeks, months, or even years away from buying a house. And if you’re into real estate and want to grow your business, you need to reach potential buyers before they pick an agent. That’s where your online real estate leads should be.
However, once you have these leads in your pipeline, you have to remember that they won’t just magically move through your sales funnel, neither should you expect them to run smoothly along your timetable. Concentrate on successfully converting them, and you’ll eventually most likely have more than one come through. In which case, your Internet lead-generation strategy is considered a success.
Here then are five ways to successfully convert Internet-generated leads.
1. Put Yourself in Your Customers’ Shoes
Design a conversion process that’s lean and customer-focused. Be a psychologist: Know the reasons why customers visit your website. If they’re asking for a buying guide on a certain area or information on financing, supply them with information they request. Instead of expecting these leads to convert immediately, nurture a long-term relationship with them by being helpful and informative. Nothing is more off-putting to a potential customer than a salesperson who suddenly knocks on his door with guns blazing. To convert a lead, you must understand the needs of your customers.
2. Adjust Your Sales Process
Being successful with converting Internet leads requires several adjustments, both in your expectations and in how you manage them. This will make you realize that you need to work online leads just as you would any other type of lead. If you don’t, they’ll just sit at the top of the funnel. If a lead says he or she does not want to buy for four months, don’t give up after only a couple of weeks. Cultivate a long-term relationship with that lead instead.
3. It’s Also about Lead Management
Lead generation is just one side of the equation. The other important aspect is lead management, because how you manage your incoming leads is far more critical to the success of your overall lead-generation system. Cultivating a lead requires time and effort. Whether the buyer is interested in purchasing tomorrow or one year from now, you still need a system in which you will remain at the top of their mind. Position yourself as a local real estate expert—your customers’ go-to person when they’ve got any question about your field of expertise.
4. The Internet Is Not a Substitute for Picking up the Phone
Although automation systems are useful, they will only serve to complement human interaction. They will never build relationships the way talking to a person can. As you build your automatic follow-up system, make sure weekly calls are part of your strategy. Combine calls with emails, direct mail, and any social media campaigns.
5. Train Yourself to Know How to Convert an Online Lead
Brokers do not step into the real estate business with a solid background in converting online leads (or any type of lead, for that matter). Hence, it is important that you train yourself to converse and build relationships over the phone. The training of any broker or salesperson must include knowing how to qualify or disqualify a lead, how to nurture and convert a lead, understanding what a call to action is, knowing the fundamentals of a solid campaign, and setting expectations on conversion rates.
Now, more than ever, is a good time to get yourself immersed in the world of online-lead generation. Organize your contacts, get permission to email them, and build a strong and consistent system of marketing communication. Online leads are out there waiting for you.
And a final word of wisdom: brokers who get online leads and complain that they don’t convert are like people who pay for gym memberships, don’t work out, and then complain that they’re fat. If you want result, you have to work for it.
