Building a huge list of warm or qualified leads is a fantastic and very worthwhile pursuit for any Realtor’s business. If you can do this effectively, then you can build a massive list of people who have shown an interest in your business and who are presumably likely to buy from you.

But this is only going to get you so far. Eventually you’re going to need to think about how you can convert those leads and turn them into buyers and sellers. So how do you take this step and what can you do to convert your leads? Here are some methods…

Sending Out Special Offers

If you are correctly handling your leads, then you should have some kind of lead management software / CRM set up and this should automatically be tracking the behavior of your leads. Those leads are people who have come to your website, shown some kind of interest in your business, and eventually signed up for your email blasts.

They should be showing engagement and the fact that they’re reading your content at all suggests that they trust your brand. That means they’re ready to buy and all that is left is for you to get them to take the plunge. You now need to do something that is going to help them take action and become your customer.

Using CRM software, you can automatically email only those leads that are showing lots of engagement, even ones that have been looking at your site. From there, you can then make them some kind of special offer. This special offer should be time limited and quantity limited. This then creates scarcity and urgency – the reader has to act quickly to take advantage of the deal.

They already liked your brand, they’re interested in your product – now you’re just giving them that final incentive to take action right now.

More Strategies

There are more things you can do to convert leads too. One example is to remove any risk that might be involved in the purchase. People are naturally risk averse, so try to remove any perceived danger by offering by explaining the risks (and how to mitigate them) versus the rewards of buying or selling real estate.

Another technique is to offer your leads a value that they can’t do on their own and that other realtors cannot / will not do for them.

Finally, remove any ‘buyers’ remorse’ by explaining how making a decision today is more beneficial to them than waiting for the future, as in act right now!  Anyone following the market knows that home values are increasing with inflation, home ownership can protect from inflation, and locking in low home prices and low interest rates right now is hedging them from inflation in the future.  Be able to talk through these ideas and show the client how their decisiveness can benefit them.

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Retargeting is a term used in real estate marketing that essentially means marketing to people who have already had some kind of interaction with your brand and who have already shown an interest in a product or service you provide.

Most often, when we think of marketing, we think of increasing our brand awareness and visibility. This means that we’re going to be predominantly trying to reach people who have never heard of our team in order to familiarize them with who we are and what we do.  Think of cold calling home buyers or potential listings.

Retargeting conversely means marketing to people who already have shown an interest and maybe even lingered and looked through your listings for a particular type of home.

Chances are you will have encountered this type of marketing yourself when browsing most real estate websites. If you’ve ever spent time looking at homes for sale, then you might notice ads for similar types of homes appearing on Facebook and Google!

The Benefits

The benefit of this type of advertising is that it is targeting qualified leads and potentially converting them to paying customers. If someone has seen your homes online and has spent time looking at them, it probably means they’re likely to want to buy one. Perhaps something then distracted them or took their attention away. By using Google AdWords, you can reach back out to those same people and try to remind them that your product is still there – perhaps at a time when they’re able to make the purchase without interruption.

You can do this through YouTube, Google ads, and Facebook custom audience, but it’s also possible to do the same thing with CRM software. In this case, you’ll be tracking which of your subscribers spends time on which of your pages. You can then look at those customers that are checking out your products and give a high lead score to the ones that have shown an interest in buying.

The Downsides

Keep in mind though that this isn’t a flawless system. While some of your qualified leads will be people who wanted to buy but didn’t get the chance, you’ll also be marketing to people who have already bought the same product from your competition – or who looked at your product and decided they didn’t want it.

This also means that you’re not creating new leads with that money, which some companies will find more beneficial. However, real estate is often the largest purchase a consumer ever makes and so it becomes that much more important for you to develop long term campaigns where you introduce yourself and your product to clients multiple times and in multiple ways.  As always, the best approach is a mixed one that combines multiple strategies into one.  Connect with your clients, develop familiarity with them, and they will buy when they are ready.

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One of the key concepts behind real estate lead generation and the lead cycle is timing. Managing your leads correctly is all about understanding what point your clients are at and how they are likely to respond to your offers at any given time.

This is key to understand but too many people overlook it. Very often, we think about sales in terms of who is likely to buy from us and who isn’t. Someone is either a likely buyer, or they aren’t and there is no in-between!

In fact though, someone can be likely to buy one day and not likely at all to buy the very next day! Approaching your leads at the right time is key to making this difference.

Cold Sales Never Work

This is why trying to make cold sales is almost always going to be met with failure. Too often, companies try to convert every single person that lands on their website into customers by having a strong sales pitch front and center. This is essentially cold selling because most of those visitors will never have heard about them before.

If you’ve done your marketing correctly using SEO or PPC, then hopefully the people on your website should have demonstrated some kind of interest in your brand and they should at least like the niche that you’re writing about. If you have a fitness site for instance, then you should be able to assume that most people visiting it will have a passing interest in fitness.

But this alone is not enough to ensure that people will want to buy from you. If you’re selling a home and someone lands on your site when they are browsing for example, or when they have just bought a home, then they aren’t likely to buy from you.

If all your site is is a big sales pitch, then chances are that these visitors are simply going to leave and then not come back. This is why it’s so important that you offer something more – and specifically that you offer value and entertainment. This way, those visitors will stay on your site and will keep visiting back until they are ready to make the purchase and they see your value!

What’s more, the fact that you are consistently providing that entertainment and value means that they are much more likely to become more interested in your home buyer and listing services over time.

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