When a prospect says something like, “We may be selling in the next year,” does that mean you’ll get the listing? Not necessarily. Lots can happen between now and “in a year”. They might decide not to move. They might decide to sell early. They might forget you. They might go with another agent.
So many mights!
How do you increase the likelihood that, when the time comes, that prospect will want to work with you — and only you?
Here are some ideas for converting real estate agent leads, especially long-term ones.
Qualify the prospect Get a sense of how serious they are about moving. If they’re selling due to a work relocation, for example, then that’s an “A” prospect. However, if they’re wavering and saying things like, “Maybe, possibly, we’re not sure….” then they’re a “B”. Qualifying will help you decide how best to stay-in-touch.
- Use direct mail for your “A” prospects Send a monthly real estate newsletter. Direct mail has a high perceived value — especially if it’s eye-catching, contains personal messages from you, and features high-interest content. It’s proven to build relationships with your hottest prospects. (By the way, a good lead conversion system will make this easy.)
- Use real estate email marketing for your “B” prospects A percentage of your “B” prospects will become new listings — for some agent. You want to make sure that’s you. So get prospects to sign up for a regular email newsletter packed with great content they’ll want to read. (A good lead conversion system will include this feature.)
- Create a phone follow-up plan Depending on the prospect and timeline, you’ll want to make the occasional phone call to keep the relationship growing. But planned phone calls are easy to forget, especially months into the future. Set up your real estate CRM so you’re automatically prompted.
- Make personal visits As frequently as you can, schedule personal visits with your long-term prospects, no later than four months ahead of the anticipated move. Like phone calls, these visits not only help you build trust but also further qualify the prospect. Remember, “B” prospects can become “A” prospects anytime.
- Send market updates As it gets closer to when the prospect might pull the trigger and list, offer to send helpful updates, such as neighbourhood stats and market updates.
- Help them get to know you better During the long-term follow-up period, invite prospects to any events you’re holding, such as contractor seminars, client appreciation picnics, and even online events
- Always be adding value Constantly phoning and asking, “Ready to list yet?” can grow tiresome, fast. Instead, focus on having relationship-building conversations and providing high-value information in your real estate direct mail or email newsletters.
Ultimately, you want to be the only agent a prospect calls when they’re ready to sell. These ideas will ensure that happens.