Getting leads is the name of the game, but when it comes to converting leads to customers it's all about quality over quantity. As an agent, it's your job to invest time to evaluiate your leads. By asking a few simple qualifying questions, you can identify who is ready to buy or sell soon and who might need a bit more nurturing over the next months.
Here are 5 questions to help qualify your seller leads:
1. What's your timeline look like for moving out?
The biggest indicator that you are dealing with an unmotivated seller is a response like "I'm in no rush."
2. Is the home in your name ?
If the answer is "no," it doesn't necessarily disqualify the lead, it's just an indicator that things may be a bit more complicated. If a home has been left to siblings, for example, getting everyone to agree to sell and then actually agree to a price can be a bit taxing.
3. Are you currently working with an agent?
You can't assume you're the only one a lead is speaking with. Often sellers are poking around to find out what any different agents think when it comes to the ideal selling price.
4. Do you currently have a mortgage on your home?
If the home is valued at less than what's still owed on a mortgage, you are dealing with a lead who may need to rethink their seller timeline.
5. If you don't sell you home in, say, the next 3 months what would you do?
Once again this is to gauge their sense of urgency and motivation. If there is no real panic at the idea, motivation is low.
Here are 5 buyer lead questions:
1. Are you currently working with an agent or broker?
Just as seller leads often "double dip," so do buyers. Their goal is to find the home of their dreams and some believe that in working with many agents, their odds are greatly improved. This is just something you should know upfront and be aware of.
2. When did you start your home search?
While it's not a certain indicator of quality, a long time spent looking for homes may mean their pricing expectations are not feasible for desired town or city or perhaps there isn't much available in the market that fits their must-have list.
3. Are you pre-qualified for a mortgage?
Pre-qualification simply confirms that the buyer can afford homes within the desired price range.
4. If your dream home came on the market tomorrow, how likely would you be to buy it?
Just as the previous set of questions helped determine seller motivation, this line of questioning helps you determine just how ready a lead is to buy a home.
5. Are you a current home owner or renter?
What's the big difference? The way you help guide a first-time home buyer is naturally going to be different than someone who is looking for their 3rd or 4th house.
With these 10 questions in your qualifying toolbox, you'll have a great opener to insightful conversations that will help you better understand your lead, how best to nurture them and where to alocate your time.