We all know online leads are supposed to be the latest and greatest thing in real estate but they can be fairly expensive and the national average conversion rate is only about 1.5% but what if you could convert your online leads at a rate of 11%?
Would you do what it takes and start crushing it online as an agent? Sadly most agents would say "it is too much work, online leads suck and real estate sucks and I am sure there is something out there better than an 11% conversion rate for me thanks very much!"
This week I want to share some of the ways you can increase online lead conversion and reach a double digit conversion rate... so let’s do this!
We all know the most important rule to online lead conversion is speed to lead (under 5 minutes response time)! The first agent is usually the agent that wins the leads business when they are ready to raise their hand to do business. Just as important as the speed to lead rule is your ability to personalize and show your own personality in your online lead responses so they can begin to feel like you’re an agent they can trust, like and do business with and not just a salesperson!
So how do you show your personality and personal touch in lead response?
Video is now the online lead conversion secret weapon. 86% of communication is non-verbal ( tone, eye contact, body language, voice inflection ) video allows us to communicate all of that! Your initial contacts are now 30 second video texts, 30 second video emails and a personal phone call, all three in under five minutes.
- Make the message personal by holding a small white board with the clients name written on it in your hand in the video first.
- Then the next contact hold the small white board with the name of the area they are looking for property written on it.
- Then the next contact have your website domain name written on it and tell them what they will find on your website that is unique to other sites.
- Quick follow up message to make sure they are getting all your messages. Plans changed?
- Send a list of your top picks of homes based on their initial search enquiry.
- Send them recent new listings and sales in what they told you they are searching for.
- Let them know about your informed home buyer plan and how they can save time, money and stress.
- Let them know how you have access to homes for sale that are not on the MLS
- Let them know how you can beat other buyers to new listings
- Let them know you have solutions for their common buyer challenges
- Let them know what you have they cannot get online (service providers, schools, trades, local amenities etc.)
- Let them see other photos of the listing they enquire on that are not on the listing
- Let them know your value proposition like finding a home vs. waiting for it to come on market, new listing e-lerts, saved searches, transaction coordinator.
- Send them market Snap shot stats
One of my favorite tips is using the app Calendly. https://calendly.com/ Whenever you get an enquiry about a listing you can respond using Calendly which will pop up and allow the prospect to book a viewing appointment with you for the listing they enquired on. Calendly syncs with your own calendar and knows to only offer times for viewings to the online lead when your own calendar is open. So Cool!!
Another great tool is using bit.ly to convert an email into a bit.ly link https://bitly.com/ and then be able to embed that email using bit.ly into a text back to your online lead prospect. It wows the prospect, makes the text pop, allows you to track their activity and saves your texting thumbs from cramping up on you!
Follow the universal online lead conversion script LPMAMA. Take the time to keep the prospect on the line as long as possible to build rapport and trust with this script!
L – Location, all the areas they are considering and you might suggest
P – Price, being able to determine their floor, ceiling and comfort zone prices
M – Motivation, Why? Pain or pleasure? When?
A – Assume you don’t have an agent because you are out doing this on your own?
M – Mortgage, All cash or will you be requiring financing? With who?
A – Appointment, L.G.T. Let’s get together
I hope some of these tips and tricks will help with your ongoing battle with online lead generation and help you take your conversion to the double digit level and create a boost in your business this first quarter of 2019!
Strength and courage,