When we talk about Lead Generation, I always like to mention what I call the “human element” in the business. You see, leads pro-actively fill out forms online specifically requesting help from a Real Estate Agent. Based on that information, it seems like they should all be interested, qualified leads, right? Unfortunately, that's where the “human element” kicks in. Sometimes you call a lead and, well, they're not the perfect buyer or seller. Don't despair! Keep in mind that the lead did fill out a form online and therefore they have some level of interest or motivation.

This is a guide to some of the most common speed bumps you might encounter when with leads and how to make the most of each situation.

The LTR Troubleshooting Guide:

 Q: What if the lead is working with another agent?

A: In our current market, this situation does come up. The truth is that it's in the lead's best interest to work with you, an agent, not an investor. Even if they may have to pay you commissions, a home sold by an agent will sell for 12% to 14% more than a home for sale by owner. That more than makes up for any commission they'll be giving to you. In contrast, an investor is looking to buy a home below market price for a “deal.” They don't have the lead's interest in mind at all. The key here is to be understanding, and make sure to present yourself as the expert you are. Sell exactly what you've got: a solution for the lead's situation.

Go ahead and explain to the lead: “I understand that you’re under pressure to sell quickly. I'd like to see the home and fully discuss your options with you. Working with an investor means you're going to get a rock-bottom price for your home. If we work together, there is a very good chance I can help you get a higher price for the home and even explain some extra options to you. For example, we might be able to work with the bank to do a short sale. In addition, I do have investor connections. I can come by to see the house Thursday at 10 am for a more thorough consultation, ok?”

Q: What if the lead only wants a CMA?

A: Leads often search online because they need a Competitive Market Analysis, a Comparables Report, or another document that you as a professional real estate agent can create for them. If the lead states that they simply want a CMA report, this is a perfect opportunity to begin a relationship with them and a reason ask them more detailed questions about their property.

Go ahead and gather all the information from them about their situation. Next, ask for a personal meeting to review the information and see the property. You have a great opportunity to start nurturing a business relationship. “Thank you for the information, [Lead Name]. I'm going to create a custom market analysis just for you. Let's meet to go over the document. How about Thursday at 10 am?”

Q: What if the lead has a timeline of +6 months?

A: If a lead is browsing or has a long timeline, treat them as a valid prospect because this could mean a sale for you in the future. Real Estate transactions are huge purchases and sometimes it can be a lengthy process from when a person starts considering buying or selling a home to the moment when they actually act. Ask them about the information they are currently interested in, help answer their questions and set up a time when you'll follow up with them. Then do it!

Follow up with these leads! While they may not convert today, you now have a lead to add to your pipeline and an extended period of time to gain their trust, interest and form a real relationship with them. When the lead does decide they're ready to buy or sell: you're going to be the agent they talk to.

Do not make the mistake of simply dropping these leads! If you follow up with them, checking in every few weeks or even once a month, you'll distinguish yourself from all the other agents they've spoken to. This long-term relationship building is invaluable. Having a full pipeline of potential business prospects is only beneficial to your business: it's a guarantee that your work will pay off and some of them will eventually convert to new clients.

Q: What if I can't reach the lead?

A: Sometimes you won’t reach a lead after your first try. In fact, on average leads can take between 5 and 6 attempts to actually get a hold of. Just don't get discouraged if you don't reach the lead quickly. Remember that they specifically requested your assistance and it's worth some persistence to contact them.

If you don't reach a lead after the first try, go ahead and send them an email and make sure to leave them a voicemail. Then keep calling them for at least 10 days, and try a couple different times of the day since you might not know their schedule.

One of the benefits of working with LeadToRealty is that if you try to contact a lead for 10 days and are never able to offer them your services, we'll provide you with a new, fresh replacement lead. That's just one of the ways we work with you to ensure your success with our lead generation program. 

Final tip:

Here's your final move in all of these situations: add the lead to your pipeline and ask for referrals. Say “Who do you know that is looking to buy/sell right now?” Go for it. Be direct. Why not? They just might provide a great opportunity.

Next up: Watch for next Friday's blog post, which will continue our series on how to move to the closing with your LeadToRealty prospects: Lead Nurturing & Pipeline Leads.

Not receiving LeadToRealty pre-screened fresh prospects yet? You can get started by calling us at 1-800-311-7780, x2 or sign up online now.