Your website is absolutely booming, and you have new leads coming through left and right. So…why aren’t any of these leads following through? Why does communication stop? And most importantly, why are none of these leads turning into walkthroughs of your property? Not only that, but you can’t land a second phone call or email response. According to the textbook, you are doing everything right. So, what gives? In this article, you’ll not only learn what you’re doing wrong, but you’ll learn how to fix these simple mistakes and generate more actual growth. Keep reading to learn how RealtyTech can help you turn these leads into actual interested parties.
The Following Reasons Why Your Real Estate Leads Aren’t Converting
1. Stop Thinking Of These People As Just Leads
Your lead generation tactics should be based on the fact that these are real people, like you and me. It’s so easy to forget that these are real people when you’re dealing with loads of data. Remember, these emails and phone numbers are actually attached to real people. And what do real people have? Feelings, emotions, good days, bad days, and everything in between. These qualities all factor into the way people will choose to respond to your lead generation tactics. It’s vital to remember that each lead is a very real person. You need to get to know these people, listen to what they have to say, and have an actual conversation with them. Always make sure you build a relationship with your people – the transaction will follow soon after. Those that you connect with online are conversation opportunities, not conversion opportunities. Get to know your ‘leads’ and don’t just look at them as leads.
2. Your Follow-Up Is Seriously Lacking
Your approach will probably need to be adjusted if you’ve been putting forth months of effort, and your lead growth tactics are simply not earning you any clients. Start by checking your text and email history. Seriously take a look at how you approached the situation, how you formulated the templates, and check out which areas you can possibly improve on. Tweak what you possibly can tweak, and spend some time brainstorming possible new phone strategies. Spend your time constantly trying to improve – you can also start by looking at your entire process and deciding what (in your power) you can do better.
3. Your Most Valuable Leads Are Being Neglected
In all seriousness, some leads simply convert better than others will. In fact, according to 2016 and 2017 NAR surveys, only 4% of home sellers and only 9% of home buyers found their agent online – shockingly low numbers. On top of that, these same surveys discovered that home sellers (64% in total) used the same agency they had already used in the past, or they were referred. The most popular way people find their real estate agents is through referrals. With that being said, you should always continue to nurture previous clients. These people are continuous leads for you – they will more than likely either refer you or repeat business with you. Always make sure to check up with your most valuable leads, even after a sale.
4. You Insist On Throwing Money At The Problem
Jack Miller, President & CTO of the Swanepoel T3 Group, insists that a larger marketing budget won’t solve any of your problems. “The more money you spend on web leads is LESS THAN 50% of the investment – the rest is in your time and diligence in doing follow-up,” he mentions. What you truly need is a process that nurtures your leads, as well as a CRM system such as Realvolve that will help you execute and systematize the process.
5. Short-Term Success Is Your Main Focus
You’re going to be very disappointed if you’re following a ‘get rich quick’ scheme as a real estate agent. Real estate focuses on long-term success, and nurturing relationships with clients over time as well as serving as a trusted advisor long after a sale is complete. Instant gratification? Forget about it. You need to focus on long-term goals. “All agents should accept the fact that business is earned over a long period of time. We’re not entitled to something because we met a lead first or have a “for sale” sign in the yard.” – Nobu Hata, Director of Member Engagement, National Association of REALTORS.
Do any of these points sound familiar to you? If so, it’s time to take a deep look inside at what you’re doing wrong and try to fix these problems. These few steps are relatively simple to remember. Keep in mind that when it comes to converting your real estate leads into actual clients, you should treat them like actual people, focus on continuous improvement, prioritize your most valuable leads, invest your resources in follow-ups, and commit to long-term goals of building meaningful relationships. Remember to stay diligent – these tips will pay off in the long-run.
If you want to know more about Real estate success secrets, Contact Real estate marketing expert Richard Uzelac at 805.413.7888. Richard Uzelac has given thousands of presentations and talks on real estate technology. Richard Uzelac is always available as a Speaker and Consultant for Franchises, Offices, and Agents.