Converting Internet Leads to Closed Transactions
All successful business models have a foundation, an anchor. In real estate, this is an agents CRM program. It holds everything- contacts, to-do’s, property alerts, landing pages, etc. Do you have one? If you do, do you utilize it? Let’s discover how important your CRM is converting internet leads to closed transactions.
There are two main places that leads come in from:
On Zillow, there are four agents listed on each property (you plus 3 other paying agents). People most often click the default, “contact agent” and assume they will be put in touch with the listing agent, but that isn’t the case. When they click on the property on Zillow or Realtor.com, they actually become leads and are filtered out to different real estate agents. If you are paying either of these platforms, the lead will go to you, but if you’re just listed on the site, they will farm these leads out to paying agents.
People will usually ask if you’re the listing agent and you will need to be able to explain why you would be a perfect fit for them. You see, most people have a misconception that the listing agent is going to help them negotiate price and represent them in the transaction. But, as you know, it actually doesn’t work like that. The listing agent already has their seller’s best interests in mind. They are trying to get them the most money for their house, because a higher price equals a higher commission.
Let your lead know that you are prepared to represent them in these ways:
- You know the market,
- You’ll show them a variety of houses
- You’ll protect their deposits
- You’ll do the research
- You will help negotiate the best price for them (and any inspection issues)
- You will put them in touch with your network: lenders, inspectors, title companies, etc.
- You are free- your commission comes out of the listing agent’s commission (which the seller pays)
Note: Present yourself well. Did you know that Zillow records all calls? In a study of over 2,000 phone calls, they found that about 70% of real estate agents were negative, dreary and overall seemed annoyed to be talking to a lead. Don’t do that! This could be a fantastic client! Be professional, helpful and positive 🙂
Types of Leads
- Looking to buy now- contact immediately!
- Looking to buy in near future, but keep in mind this could mean 2 months or 2 years- contact immediately and continue to nurture them and stay in touch every so often.
- Never going to convert- contact immediately, but don’t waste your time nurturing them!
- Call them immediately! (AKA Speed to Lead) They most likely clicked on a few agents, so you want to be the first one to get through to them. A lot of people won’t answer because they don’t recognize the number, so be sure to leave a detailed message.
- Text them
- Email them
- Repeat the steps above the next day
What To Do After Initial Contact
- Always set the lead up with a property alert based on the criteria they inquired about
- Do this in your CRM or MLS Matrix
- Set-up a to-do for follow-up
- Watch their behavior- are they opening your emails? Do they click on the links? Keep an eye on this and monitor their activity
- Continue this process and re-engage when appropriate
Meeting the Buyer
This usually happens at a property they are interested in seeing. Get there early and dress professionally.
- When meeting be prepared the answer the listing agent question again…
- Take this opportunity to explain again how you will help them as the buyer agent: you’ll protect their deposits, show them a variety of houses, tap into your network, you’re essentially free, etc.
- This first meeting most likely won’t result in them finding “the one”, so be sure to schedule a follow-up meeting/showing.
At Dalton Wade we believe that today’s buyers and sellers need a trusted resource that can guide them through the complex world of real estate and that’s what we provide to our clients- exceptional service.
We also believe that real estate agents deserve to keep 100% of their commissions. Dalton Wade Agents work on 100% commission, pay a $79 monthly membership fee, pay $79 a closed transaction and are paid at closing! If you’d like to learn more about keeping 100% of your commissions, contact us today!
If you’d like to get access to our free weekly training where we go over more topics to help you become a better real estate agent, reach out to Phil at [email protected].