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10 Best Practices for Converting Online Leads – Part 2

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By Patty McNease, Director of Marketing, Homes.com

real_estate_online_lead_TT1Looking to double your business in one year’s time? According to Bob Corcoran, founder and CEO of Corcoran Consulting & Coaching, which specializes in performance coaching and the implementation of sound business systems into a broker’s or agent’s existing practice, this can be accomplished if you handle your leads the right way.

Last week, Homes.com presented five important tips from Corcoran on the best way to utilize leads once you receive them, taken from his recent appearance on the Secrets of Top Selling Agents webinar, “10 Best Practices for Converting Online Leads.” Topics explored included the importance of calling immediately, emailing effectively, using video, calling frequently and mastering your time.

This week, we explore five more equally important tips shared by Corcoran on ways to make the most from your leads once collected.

Tip 6: Plan Your Calling: Sure, you can put prospecting time in your schedule, but Corcoran says it’s more important to prospect with intent. Based on research, which tracked more than 460,000 voice response calls, he discovered the best time to prospect for lead generation was noon to 5 p.m. Plus, the highest number of leads being generated are on Sunday, when lots of people take off. Therefore, he suggests either taking a different day off, or delegating the day to those below you. Don’t let this important day go to waste.

Tip 7: Prospect with Intent: As mentioned above, prospecting with intent is vital to being successful. Corcoran says it’s okay not to call every lead, and to prioritize those that you do. In his opinion, calling the highest priced leads first—those with a home to sell—is most important so you can secure the listing. Next, call any referral leads, as these are potential clients who have already received glowing reviews about you from a friend, family member or associate, and are more likely to work with you. “What is amazing is the amount of referrals you can generate, but I think agents do a poor job communicating with referrals,” says Corcoran. Another important prospecting tool is to find leads that want to move in under 30 days due to relocation, a new job or needing to get out of a rental. In Corcoran’s mind, it makes no sense not to sort your list by price point, and recommends a lead management system by separating them into A, B and C leads based on importance.

Tip 8: Know Your Numbers: More than 80 percent of people who call won’t be working with an agent. According to Corcoran, success is all about goal setting and calculating what it takes to achieve your goals, stretch goals and dream goals. When you’re setting realistic goals and tracking results, you’re more likely to achieve them. Corcoran says not to be afraid to think bigger. Setting dream goals is recommended because it makes you more likely to work a little harder to get what you want.

Tip 9: Know Your Market: Look at the profiles on Homes.com of those looking for a home. Corcoran says to consider these compelling statistics: with the half a million leads being generated each month, 91 percent plan to purchase or sell a home within the next year. It’s also important to define your generations and know the best way to communicate with each. Traditionalists (60 and above) like to have a conversation, boomers like to get calls on their cells, Gen Xers want to communicate through email and millennials like to touch base via Facebook or Twitter. Never ask “Are you working with an agent?” Instead, ask “How long have you been looking for a home?” And never ask someone when they want to get together or they will almost always say after work and you will work seven nights a week. Instead, ask what works better for them—mornings or afternoons.

Tip 10: You Want Results: Track your data, because Corcoran says the money is there for you to have it. He recommends using Homes.com to help, because success comes quicker when a sound structure is in place. Remember, leads are the bread and butter of any successful real estate career, so knowing how to get the most out of them is vital to becoming tops in your business.

Stay tuned for next week’s article with tips from Gary Vaynerchuk on how to use social media the right way to close more business. And, as always, visit the Homes.com blog dedicated to real estate pros for more valuable tools and resources.

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