Unlock the Potential of Your Existing Leads with These 7 Steps:
As a top real estate team, you already have a large database of leads to create new listings. In this article, we'll outline a 7-step process to help your team convert existing leads into 10+ new listings in a month.1. Create Lead Scoring System: Not all leads are created equal. Before starting any new initiative, determine which leads are most likely to result in a listing based on past experience.
Example: Some teams are intimidated by a lead scoring system. But you can create a basic lead scoring system in minutes by assigning points (e.g. 1-10) to criteria such as lead source (e.g. referral, social media, email, etc.), recent engagement, property characteristics, and signs of seller motivation. Then rank incoming leads based on their total score to prioritize follow-up efforts.
CRMs that may be able to help create a more advanced lead score:
Example: iBuyers spent billions of dollars last year for a reason. A cash or guaranteed offer is the best call-to-action in real estate. And your team doesn't need to buy the property directly, there are many options once a seller requests an offer. Ahem...ask us for more details.3. Personalize Your Content: There is so much noise these days, it's hard to break through. That's why, personalized communication is the key to building rapport and adding value. By leveraging your expertise of the real estate market, you can provide valuable information and show homeowners that you care about their needs. This can include market reports, custom emails, or even home value dashboards.
Example: Launch a home value campaign that provides accurate valuations and market insights.
Companies that may be able to help with personalized content:
Example: Check out previous posts on 3 Proven Ways to Use Technology to Get More Leads or 5 Tips to Improve Email Deliverability.5. Streamline Your Follow-Up Process: This is an important one! Follow-up is an essential part of the lead conversion process. Utilize technology, such as automated email or text sequences to streamline your follow-up process and ensure that you stay top of mind. Also, create a series of sales scripts for your team, especially if they are a new type of lead (e.g. guaranteed sale or home value lead).
Example: Set up an automated email and text campaign to follow up with leads every 1-3 days.
Companies that may be able to help with automated texting:
6. Email Blast with CTA to Old Leads: Often times we hear realtors say that seller leads are expensive. Or difficult to obtain. But realtors are forgetting that they are sitting on a gold mine of leads. Reengaging old leads is the fastest and most cost effective way to produce more listings quickly. And the fastest way to reengage them is to send an email blast to your entire database.
Now, before you do, there are a few very important tips to keep in mind or you may hurt your domain reputation (e.g. ensuring email deliverability, day/time of send, content is dynamic, not too many spam words, etc.). Actually, it's kind of complicated, so maybe we'll do another post on this topic. But needless to say, by reaching out to past leads with something of value (e.g. personalized home dashboard), you can remind them of your services and potentially reignite their interest in buying or selling a property.
We've had several top teams produce 10+ new listings in 2 days! Just check out our Success Stories page for a few examples.
7. Measure Your Success and Adjust Your Strategy: As the old saying goes, "you can't improve what you don't measure." This is especially true for marketing attribution and sales strategies. We can't emphasis this enough, if you are spending a lot of money, make sure you understand who is engaging with your website or campaigns. That way, you can quickly determine what is working and double down on the efforts.
Example: Create a custom widget or seller journey to track leads on your site.
Companies to help:
- Google Analytics for website and marketing tracking
- Fello to create a personalized seller journey and track results
By following these 7 steps, successful teams with a large database of leads can create 10+ new listings in a month by utilizing their existing database, nurturing relationships, and utilizing technology to increase their effectiveness. With a focused and organized approach, realtors can quickly turn stale leads into new deals.