This article was originally published by me on the Home Value Leads blog entitled "How To Convert Real Estate Leads Into Home Sales" and is being republished your consideration and discussion.
Do you need to know how to convert real estate leads into home sales? If you hope to be successful in the real estate business, of course you do. Having dozens or hundreds of real estate leads can be a great thing, but if you are unable to convert them to actual home sales, all the leads in the world will be useless to you. In fact, leads you cannot convert are nothing but a drain on your time and resources, with no return on your investment. Here are the 3 most important aspects of lead generation:
You Are Destined to Fail
Before you can get anywhere, you must simply accept that most of your real estate leads will probably never convert to actual home sales. The problem is there are simply too many people who are interested in real estate, but not interested enough to actually buy or sell a property. Think of it this way, even a great baseball player fails to get on base 70 percent of the time. Just because you are unable to turn all of your real estate leads into sales does not mean that you are a failure; that is simply the way it will be. Now that we have gotten that bit of bad news out of the way, we can move on.
How to Make It Happen for You
Ideally, you will be getting a lot of real estate leads; between your networking, advertising, social media presence, website and other research, you will ideally find yourself with more leads than you think you can pursue. The good news is that you can pursue many more leads than you might realize. Your social media presence can keep your name fresh in the minds of hundreds of people. If you can get a person to give you his or her email address, you can use automated drip email to guide your leads along the path to making a buying or selling decision with very little effort on your part. When the time to make a personal contact does come, you will be contacting a real estate lead who already knows who you are, what you do and has had adequate time and prompting to make a decision. Always stay upbeat, positive and helpful. Even if they are not ready to make a buying decision, you may be able to get them be qualified with one of your lending partners, which means they will be ready to move quickly when the time to buy does come.
Be Patient, Be Persistent
Converting real estate leads into home sales takes time. That time can vary depending on where the lead came from and how motivated they are. It may take six to nine months (or more) before a real estate lead becomes a client. You need to have a system in place to be able to follow up with them reliably and consistently. Getting great real estate leads, and converting them to home sales is an inexact science; even when you do everything right, some leads will never convert, and this is not your fault. Keep working at serving your current customers well, and word-of-mouth will go a long way toward bringing your future customers to your door.
Photo Credit: Mark Moz
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