Buyer Lead Conversion Training
Setting the right tone.
If someone calls me off of Zillow and I can’t help, I transfer it to someone else on the team to pick it up right away. However, if it is not answered for four hours, that is not good customer service! This scenario just cannot happen.
The time to response is critical. You’re not sure what the buyer is doing, but if you get back to them within 10 minutes to a half hour, you have a much better chance of converting the business.
Research on the property is crucial.
If you work with Dalton Wade, you will receive a lead via our client management system, Follow Up Boss. If the lead says Zillow, then you can probably show the property, if it says Zillow Foreclosure, you probably cannot show that property. However, you can do the research on the property so that you can speak intelligently about it and also educate the client about the foreclosure and auction process.
For those who have reached out regarding a property that is no longer available, send a follow-up email noting that it is no longer available and ask a few questions that will help tailor a customized MLS search and can be sent to them on a weekly basis. You will always get a response to these emails, as it shows prospects that you are interested in them and are showing you are going the extra step to help them.
Managing your lead/work-flow.
Do not take too many leads, because you will not be able to service all of them as you would like, know what your bandwidth is – managing your lead flow makes for a more optimal conversion rate.
We use a great client management system called Follow Up Boss that will help you stay focused and in the game.
There are four stages in Follow Up Boss client management system –
1. Lead – someone that we are soliciting
2. Nurture – someone that is asking for a lender, or someone nurturing
3. Hot Prospect – scheduled to go out with or are showing properties
4. Trash – No response after multiple contacts – not looking for what we offer
Make sure that all leads have a task assigned to them – this is how you are managing your contacts and business!
Doing the math.
Over the course of a year, if your conversion could have been 6 percent, but it ended up at 5 percent because of things falling through the cracks and you were sent 400 leads. That’s four leads that did not get finalized that could have– at $5K a transaction, that’s a $20K loss, all because something was not tracked and managed as well as it could have.
We have this fantastic tool that when utilized to it’s utmost can be a huge asset in your real estate business.
What are other systems or processes you use to convert leads? Reach out me at Phil@daltonwade.com.
Look forward to connecting.
