RISMEDIA, March 20, 2007- Despite this considerable market, the majority of real estate agents are not capitalizing on this lucrative sector. According to NAR over 80% of real estate consumers start their search online. This requires real estate agents to have an online presence. Why are the vast majority of agents and brokers not successful in the online market?
As most may figure, there is a requisite process necessary before closing an online generated real estate lead. Before overviewing this process, it must be reiterated that not all online generated leads should be treated alike.
The beginnings of any online lead start when a potential home buyer or seller enters an agent's Web site and sends their contact information. This lead can fall anywhere in one of four different stages of the buying cycle. The Consumer Buying Cycle consists of these four phases:
• Awareness: Of Real Estate Market
• Information Search: Research Of Real Estate Area
• Want or Desire is created: Of Particular Area and/or Property
• Action: Ready to Purchase and/or Sell a Home
It may be a little difficult to conceptualize how this pertains to a real life scenario, or how you can identify your client's stage. The leads you obtain could in fact be at the very infancy stage, or ready to purchase and/or sell in the very near future, or maybe not within a 12 month plus time period. The determination of where in the buying cycle the lead falls in will profoundly shape your marketing strategy. No lead is a waste of time because if not now, this lead will most likely enter a real estate transaction in the future.
How should one determine the appropriate marketing strategy for these leads? To start, your lead should fall into one of two categories. Leads that are identified as searching to buy/sell in three months or less should fall in the tradition real estate marketing tactics. This entails contacting the leads to begin meeting and visiting properties you both have gathered online. Then there are those leads that intend on buying or selling within three months or more. These should be incubated.
How are real estate leads incubated? This is usually the point where real estate agents fail to perform. In order to be able to successfully incubate a real estate lead, one should have a system that facilitates and reminds the client that the agent is involved along every step of the process. Some of the most crucial actions that can be taken to incubate your leads are:
• Execute E-mail Drip Campaigns
• Enabling your customers with a Personal Real Estate Account
• Providing Added value features: Neighborhood and School Statistics
The way a lead should be incubated is by always having a presence that is not overly aggressive, yet keeps the real estate agent in close proximity of the potential real estate consumer. As shown above, this can be accomplished by establishing a system which would encourage the "leads" to develop a personalized approach to their quest and this starts with providing them with their own online account. This account would allow the "lead" to search for homes, view neighborhood information, save their favorite homes, opt in to receive e-mail updates regarding their favorite properties and to view virtual maps and much more.
This briefly reviews the advantages what offering an online presence in the real estate market implies for agents. RealtorExposure.com offers advanced services that can make this happen for you.
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