5 Quick Ways to Lose a Lead

By
Real Estate Technology with IXACT Contact Real Estate CRM
4 MIN READ

 

Leads are the lifeblood of any business. Period. Whether you are communicating to a lead or client, both should be given the same amount of attention.

If a prospect was recommended to you, found you online or heard about you by way of word of mouth, the clock has started for you to make them feel comfortable in helping them with this major transition in their life.

You might think that mishandling a new lead is a short term problem, but if it’s consistent, putting a band aid on it will only make the same issues persist down the road – damaging your reputation and your business referrals.

A Prospect Has Taken Interest in You – Don’t Lose it

Consider this, prospects have made 60% of the buying decision before they ever speak to a sales representative, so they’re ready to pull the trigger and move forward to working with a real estate agent. If you’re having a tough time converting, there might be a deeper lying reason why your leads are going through a revolving door – and it has nothing to do with the costs associated.

Let’s revisit some of the ways you might be turning leads off from working with you and if any of these warning signs ring a bell – you need to rectify them fast! 

1. Being Unresponsive

Prospects love to educate themselves, and will understandably ask a lot of questions – questions they expect answers to in a timely manner. Real estate is a fast-paced arena where inconsistency kills, and deals can fall through when progress hasn’t been made or when response times start to drop off.

It doesn’t matter what aspect of life this is in if someone is unresponsive to getting back to, you’re ultimately saying that you don’t consider him or her a top priority. 

2. Limiting the Ways to Communicate

According to a marketing study by McKinsey & Company, email is 3 times more likely to result in lead conversion than social media. That being said, you never want to put up roadblocks in terms of the mediums clients wish to communicate with you on. Catering to their preferences will go a long way in strengthening the relationship. Now the Holy Grail here is having an email address to be able to keep in touch down the road and always remain on their radar.

Try something like: “I’d like to get your email address so I can keep you informed of valuable real estate information. Is that ok with you?” 

3. Coming Across as Too Aggressive

Folks that are coming to the decision to enter the market are making a major life commitment, and they need someone in their corner that is a right fit for them on a personal level. It’s a gut-based decision and they need to feel comfortable with someone that is actively looking out for their best interest.

4. Asking for Referrals Too Soon

Jumping the gun and asking for a referral can be a quick way of turning off a prospect. Timing is everything here, and you need to balance it properly so you don’t seem like you’re overlooking the client at hand. Don’t get us wrong, asking if there is someone they know of that could use your assistance is a solid business practice – but wait until you have demonstrated your value and have tangible results to justify this ask.

It’s all about finding that balance.

5. Letting Your Competition Swoop In

Taking a lead for granted while believing that you are the only real estate agent they’re talking to can come as a rude awakening when a client turns elsewhere for consultation. Just because someone has taken interest in you does not make it a done deal. Continually show your value add by going above and beyond for them, demonstrating you understand market conditions, their expectations and how all of your work will fit into their budget and vision. Getting sloppy can have a devastating effect on your bottom line.

These cardinal sins can wreak havoc on your future pipeline, but the interesting thing is that there’s a quick fix to help keeping these problems from reoccurring.

Having a CRM that is designed for the mind of a real estate agent helps with unifying all the moving parts of an agents’ day-to-day operations.

Start your FREE 5 week free trial of IXACT Contact now.

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IXACT Contact - Real Estate CRM and Marketing Made Easy

Call us at 1-866-665-0018 or email us at info@ixactcontact.com.

 

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Rainmaker
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Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Your advice applies to more than just real estate. A recent experience here is a case in point.

We're thinking of installing a back-up generator system and had gotten a bid from one contractor. After talking about it, my husband decided we should consult with an Electrical Contractor that he often used when building custom homes.

I put in a call to him on a Friday, and on Monday his secretary returned the call. I told her that my husband wanted to consult with Mark about possibly installing the generator. She said he had just gone to the post office and she'd have him call when he returned. That was nearly 2 weeks ago. He didn't call.

This morning she called and said he could come by this morning. I told her "No thanks."

Did he seriously think that just because we'd hired him so many times in the past we would wait that long for a call back?

Aug 14, 2019 10:16 PM #1
Rainmaker
3,194,785
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Welcome to Active Rain, and just to be clear if you   have to write this to the person.... then they are hopeless and a post will not help them, they need common sense, that is just my  two cents, Endre

Aug 14, 2019 11:06 PM #2
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Rainmaker
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Rich Gaasenbeek

Real Estate CRM & Marketing Made Easy!
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