In the digital age of real estate sales, the process of successfully converting prospects to leads and closed business has become a fine art. No matter how refined a process becomes, losing a lead is inevitable.
Here we’ll discuss some common problems that may lead to sales loss and how you can correct them. Although we’ll dive in specifically to boosting conversion within the real estate industry, the concepts can be used for sales leads in any industry.
Lack of Presence on Social Media
Think about your favorite brands. Some of the best brands have clear, concise, and dedicated social media strategies. According to Hootsuite, there are approximately 3.2 billion (42%) social media users across the globe; clients today expect a sophisticated social media presence. If your online presence is unprofessional or weak, it won’t build credibility with buyers, and you may even lose the lead before you have a chance to introduce yourself.
Having a social media presence is excellent, but unless you’re able to come up with a precise and measurable plan of action, there’s a strong likelihood of getting lost in the noise. These five best practices can grow your social media presence and keep your business organized:
Identify the social channels on which you want a presence (master a few as opposed to delving into many)
Develop a social media calendar to organize your social strategy
Follow the 4:1:1 rule, depending on the platform
Add your social media channels to all marketing material (online and offline)
Encourage clients to interact with you on social to build a powerful, core audience
Respond to all sales inquiries through social promptly
Calls-to-Action That Lead to Nothing
We’re seeing a lot of real estate agents take their business online with stunning websites. However, even the most beautiful websites can have a low conversion rate if the calls-to-action (CTA) are not working.
Whether you’re an accomplished REALTOR® or someone new to the field, it’s essential to capture all potential prospects into sales leads. Here are some common CTAs that we see advertised through real estate marketing websites and collateral:
Free Home Evaluation
Free List of Homes Under $$$,$$$
One of the toughest aspects of real estate marketing is getting a customer to become aware of your brand and to visit your website. That’s why it’s important to optimize to ensure that you are converting as many visitors into sales leads as possible. One way to turn a potential sale off is to have CTAs that don’t lead anywhere.
For example, your “Contact Us” button leads to a 401 error, your “Free List of Homes Under $$$,$$$” offering yields nothing. Empty offers and CTAs such as these are sure to sour any prospect, so ensure that you test your website often to ensure it’s functioning.
Go through your online presence (website, emails, etc.) carefully to look for problems – you may save yourself a lead!
Not Implementing Face-to-Face Interactions
Although we’re living in an age consumed by digital media, face-to-face interactions are still crucial to closing a sales lead. There’s nothing better when it comes to rapport building than face-to-face interaction. It provides an added sense of personalization and allows agents to understand their clients and their needs on a personal level.
According to the Harvard Business Review, face-to-face requests are 34 times more successful than ones sent via email.
Ignoring Customer Expectations
There’s an old saying that is as true as any in real estate sales, “underpromise and overdeliver.” Signing a client on to work with you is just the beginning of what one hopes is a long-term business relationship.
You’ve proven to them that you’re capable of delivering results, now it’s time to achieve them. But what happens when you have promised them the world and set them up with unrealistic expectations? In most cases, it will yield negative sentiment on the client’s behalf, and they’ll share that negative experience with their inner circle as well—you don’t want that.
The best way to avoid this experience is to have an open discussion with your client in regards to their expectations. Not only does communication help create a more productive workplace, but it also helps build more sustainable client-REALTOR® relationships. If you feel as though they’re unreasonable, be open, and communicate that before proceeding. It’s important to get the lay of the land when working with a client to ensure that they’re satisfied with your service and retain you as their agent for life.
Networking is a critical part of a real estate sales leads generation strategy. You can be the most efficient, results-oriented agent in the nation, but if you’re not putting yourself out there and speaking with other agents and clients, you’re doing yourself a disservice.
Sales leads can be generated anywhere, and at any time, so it’s necessary to keep the following points in mind:
Always have a business card on you; you never know when a lead will present itself.
Build a network of tradespeople to whom you can refer contracting leads, and in return, they will refer real estate leads back to you.
Do not make all conversations about you and your business; read the room and if the conversation doesn’t warrant bringing up your job, don’t. Building relationships is more important than dominating the conversation.
Give your clients a holiday gift. It’s an opportunity to get in front of them at the end of the year and get an update on their needs without being too sale-oriented.