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The traditional model for real estate lead follow-up is to qualify for LPMAM: location, price, motivation, approval for a loan and mortgage amount.
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Realtors, real estate brokers, this one's for you. Have you ever felt like your follow-up process is letting leads slip through the cracks? You spend money generating leads. Or having real estate lead generation boosted for you by a lead generation agency like Pearl Lemon Leads. Or at least you should. You’ve got the lists. You’ve got the contact information. You try to reach out. And then … no response. No engagement. It’s frustrating to see what you are almost certain are active homebuyers leave you high and dry. And even worse when you later find out that they went with someone else, as in your competition. Before you call it quits, or start blaming the quality of your leads, here’s a look at a few less used ways to effectively follow up with real estate leads that should get your the results you want.
CHANGE THAT FIRST CONTACT SCRIPT The traditional model for real estate lead follow-up is to qualify for LPMAM: location, price, motivation, approval for a loan and mortgage amount. About 75% of agents will introduce themselves and attempt to start off a conversation – either via phone or email – with this structure in mind. So, what can you do to stand out? Add a data point to your script. For example, when a new lead registers on your website, they have probably been looking at several properties beforehand. Use that data to your advantage.
Opening your pitch in this way immediately sets you up as an expert who’s ready and willing to help, not as someone who is getting ready to judge the potential buyer’s budget or tastes. There is a big psychological difference between trying to gather info to sell to someone versus trying to help someone and you should find that the latter is almost always going to be more appealing.
SEGMENT AND SORT YOUR LEADS BY CATEGORY No two real estate leads are exactly the same. Some will be ready to see houses now, others are “just looking.” A potential client may have been generated via cold email or from cold calling. Some people will have signed up for your newsletter. Some of your real estate leads may have come from social media. However you got them though, each one is likely to be at a different stage in the ‘process’. Randomly contacting each one of them, one after the other, with the same pitch and the same frequency is rarely going to work. This is where lead segmentation comes in. Simply speaking, segmentation is dividing your long lead list into few or several smaller groups and preparing unique messages for each of the groups (or segments). A prospective client might already have made a decision about the type of house they’re looking for. A new lead may just be on the market to check out the prices in a local area.
BE WILLING TO SWITCH UP YOUR CONTACT METHODS You are probably used to calling leads. It’s the way things have been done for decades. But, the times they are a changing. As you are no doubt aware, in many markets, the people who are most active are Millennials, and their younger counterparts, Gen X’ers are beginning to get into the property market too. Don’t have the time for that? Hand the leads over to an outsourced appointment setting team. These people do have the time – you will be paying them to have it – and they also have expertise that you may not. So, they can contact the leads and set up appointments for you. Leaving you to do what you do best, serving the clients your lead generation efforts have already connected you with. We can help you generate more leads! Give us a call today to help generate more real estate leads!
