The following post is a summary of the presentation I made today at the WCR Rookie Seminar in Colorado Springs.
Real Estate Internet leads are a commodity that many agents love to hate. First off, people looking for a home on the Internet object to be called a “lead” and really despise the typical way they are approached. This makes sense because no one wants to be badgered and/or dripped on!
What a consumer wants is information. They are curious to see what is available for them in the housing market and using the Internet to look is a non-obtrusive.
As an agent, making a connection should be done with the utmost respect for the consumer’s privacy. Of course when you do make contact the best approach is to be friendly and offer real estate assistance for either now or in the future.
Timing is Everything!
Being able to connect as soon as possible increases the potential to be of assistance while the consumer is online and looking.
Understand and Respect the Time Line
Many consumers start the online search months, even years in advance. Initially the information they need relates to neighborhoods that might fit their lifestyle and budget. As time progresses needs will change so continue to keep in touch.
Connect, Engage and Become Indispensable
Keeping up with the real estate market enables an agent to provide relevant information when needed. Knowing pertinent facts about neighborhood statistics, average prices, list to sale ratio and absorption rates demonstrates competence. Competence leads to reliance and trust from the consumer, so work hard to keep up to date.
Agents need to express to consumers, we don’t sell houses, we sell our expertise.
Engaging conversation with a consumer is easy. Ask questions of your consumer regarding their wants and needs. Here are a few sample questions that when answered will provide valuable insight for their next home transaction:
- Where are you coming from?
- Do you own a home there?
- How large is it?
- What do you love about your current home?
- If given the opportunity to change something about your current home, what would that be?
- How much are you hoping to spend on your next home?
- Will you have a job when you move here?
- Do you plan on selling your current home or renting it?
- How’s the real estate market in xxxx?
- Is your company providing you with a relocation package?
Obviously taking good notes to add to your data base is very important. The more information you have about this potential customer, the better job one can do in providing them excellent service!
Use Consumer Centric Language
As real estate professionals we need to avoid using real estate jargon. Not everyone understands the language and seldom do they raise their hand and ask for an explanation of terms. Be careful and confirm when you are having a conversation that your meaning is getting through.
Fair Trade Items
On the way to becoming indispensable it is important to utilize items of value, relevant value to the customer. What is relevant will be discovered in your conversations with the consumer. You need to dig in order to find out what might be important to them. Sometimes they ask you, but often times extra needs aren’t as apparent.
Some items I have prepared in the past are:
- Relocation Information Packet – could be an email with relevant links to information or hard copy if you have it
- Info on a specific area
- Map of the area – frequently I will post sticky’s on a map illustrating the various possible neighborhoods that might work for them
- A localized newsletter with current market data
- Newspaper or online articles of interest
- List of Golf Courses (or Colorado Golfer magazine)
- Links to School Sites
- List of Private Schools
Don’t Be a Drip – Provide Relevant Info!
Drip systems are very popular, among those that SELL them. It’s been my experience they don’t work. The consumer recognizes a DRIP messages and regards it as spam. So if you want to join the ranks of 99% of the agents, drip on consumers.
Scripts – Use as an outline
We all have scripts. Scripts are part of a process to keep us on track. When contacting a lead following a script (preferably not read but internalized) is the best way to garner the proper information needed to be able to provide relevant information to the consumer.
The suggested routine is to first call the lead as soon as possible. If there is no answer be sure to leave a complete message as to who you are, why you are calling and how to return your call. Be sure to speak distinctly and repeat your name and telephone number a second time.
Two Punch!
Once the first contact is made (either in person or via message) take the second extra step and send an email message with the same information. This message can easily be configured as an email signature in Outlook, for ease of use. I prefer to personalize the basic message by referring to the town or neighborhood the person was initially inquiring about.
Final Step
Each time a contact is made with a lead, be sure to record the conversation in your data base and schedule a follow up date. When you are new in the business this may seem unnecessary, but as more and more business comes across your desk you will realize this habit is important.
Date Base?
If there is only one tool you can have in this business, it’s a data base. Your data base can be as simple as a yellow pad or Microsoft Excel. Whatever you do, be sure to create one, NOW! I promise you in 5 or 10 years you will thank me.
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