At the heart of every business is the perpetual need to get products to clients and clients to products. Particularly in real estate, every transaction should generate another, exponentially. Real estate is unique in that it requires a high level of trust and confidence in the real estate professional.
In order to develop such relationships in today’s extremely large and high-speed market, technology must play a tremendous role. The relationship must be developed long before the face to face meeting. Using technologies to develop such relationships requires the specific marketing knowledge to employ strategies that generate leads and converts them.
Identify Lead Sources
Identification of where most leads come from provides a focus for generating interactions. Technology today affords the real estate professional the ability to use tracking and analytics to manage the behavior of leads on their sites, thus determining the potential clients’ specific areas of interest in order to target and develop relationships. Use information gained through analytics and responses to target leads. Review lead sources each quarter to identify, track and stage. Offer information, materials and advice to build confidence and trust.
Customer Relationship Management
The implementation of Customer Relationship Management results in strategies including the use of on-line response forms, and email marketing drip campaigns divined from the behaviors evidenced from the analytics. Advertising on other real estate sites can serve as reminders as well.
Offers of valuable information in the form of e-books, webinars and blog posts on social media, encourages engagement and eventually results in interactions and relationships. Consider out-of-the-box marketing – sites such as Tinder and LinkedIn enable large-scale linking back to real estate professionals’ websites to encourage interactions. Facebook may provide information from search bars using related hashtags such as “house hunting” and “moving”. And don’t forget closing gifts. These help establish rapport for future referrals.
Studies show that the number one generator in a high-speed market is response time – quick responses are expected today and may increase sales as much as 340%! Of course, in order to respond quickly, time must be dedicated exclusively to work leads.
You are most likely shaking your head in agreement that the information above is something you would love to implement into your daily business model, but you lack the time, energy, assistance and experience to put together the right system for you. As I tell every single agent who comes to me with this problem in their business….
We all have the same goal, but the how we achieve that end result is different for every agent. There are so many factors to consider when you set up your lead management system.
- You need to identify with your local market in what is happening right now – what happens now can change, so you have to always be prepared to adjust your lead generation system to keep up with the real estate market.
- Where are your leads coming from? What program do you have in place that is working for you now.
- What is your immediate response to those leads? Call, text, email?
- What is your goal for building a long-term relationship?
- If you generate leads from referrals – how are those being managed?
- Are you generating leads from your website?
- Are you generating leads from your social media strategy?
Now that your thinking about all the various ways to receive a lead your number one goal is to have a system in place for communicating with all the lead scenarios.
And, you must have a good CRM program in place to help you manage, monitor and follow-up systematically.
Many agents just leave leads on the table, which as we all know leaves money on the table. The reason this happens is because they are caught up in the moment of working with actual clients. You need to always keep an eye on the future, and when things start to slow down, you can go into your lead database and see what is working to build those relationships. You can then follow-up to see how you may be of service to help them buy or sell.
If you find you are not organized in this area of your business, then I highly recommend you find time to sit down with your staff to come up with a plan that works for you and your business. Work together to figure out a way to stabilize your lead follow-up so your are constantly building your business.
If you do not have the tools to implement or find you are stuck in putting together such a system, let me know. I am happy to schedule a complimentary 30 minute session to help you identify how you should get started. If you need someone to create the strategy and implement as well as manage, we can also discuss how my real estate virtual assistant services can benefit you.
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