I've been reading a lot of posts on lead generation. Everyone wants to know what works best: bumper stickers, calendar magnets, car magnets, farming, networking, classifieds, ... The list goes on and on. While it is true that this is a lead generation business, we need to take a minute and determine the quality of leads that we are generating. In general terms, leads can be "scored" using the following:
- Are they qualified? This can mean both financially. If they can't afford it, we aren't going to go look at the house. Period. Yes, I discriminate against the poor. Being poor is not a protected class under fair housing.
- Are they committed to the process? In other words, are they EMOTIONALLY qualified? Are they actually going to see the process through to completion? Too often we get people who are "just looking" - tire kickers. They need a real estate LOOKSperson, not a SALESperson. These people waste our time. Being a jerk is not a protected class.
- Are they loyal to you as their agent? If they understand your unique value proposition and you take excellent care of them, they won't go elsewhere. Loyalty is something that is created by building rapport and trust with the clients, and can be done successfully at the first meeting (listing appointment or buyer consultation.) Everyone has stories of "their" clients (or friends) who listed or bought with another agent. See previous jerk comment.
The higher our leads are in all three categories, the more I'm willing to pay for the lead. Obviously, a lead that is qualified, committed and loyal is worth a lot! Leads that are 0 for 3, not so much. Before sinking money into the next great lead generation system, think about the quality of the lead you're paying to get. Is it really worth it? Only you can judge.