There’s a lot of confusion in the real estate industry, and it’s time to clear the air. Recent polls show that 70 percent of agents are spending money on some sort of online lead purchasing tool in hopes of getting in front of millennial buyers and growing their business.
Although agents are flocking to digital advertising options, one of the major players in this space released a survey revealing that the conversion rate of online leads is around 2.5 percent. That’s a lot of work for very little return, especially when you consider that a referred lead from a past or current client has about a 50 percent close rate.
I share this information not to bash technology, but to challenge you to take a hard look at the source of your closed transactions and invest more time and money in 2016 on what’s making the biggest impact. Too often I see agents get caught up in the latest technology trap, neglecting the fundamental, unsexy habits that are crucial to sustainable success.
At Buffini & Company, we teach agents to embrace technology and use it to better connect and communicate with multiple generations of buyers and sellers. We keep the focus on delivering exceptional customer service, encouraging agents to adopt technology to bring more value to their business relationships.
With that said, your next question should be, “How do I use technology to provide value?” Here are three ways the most successful Buffini & Company agents use technology to build meaningful relationships, ultimately generating more business.
They Create Community
People want to feel connected, and a part of something greater than themselves. That’s why when our agents host mom meetups, gratitude gatherings and holiday parties with clients, they have a lasting, positive impact on their business. By bringing people together both online and offline, you create opportunities for your biggest advocates to connect with you and each other and share why you’re the go-to real estate professional in your community.
One great benefit of technology, and social media in particular, is that it allows you to stay tuned in to what’s going on in your clients’ lives. Don’t be superficial and inject yourself into every real estate-related conversation, but do look for opportunities to exceed expectations. For example, if you see that it’s a client’s birthday on Facebook, give them a call.
They Give First
Video, email and social media are great platforms to share information of interest with your clients. Providing value before, during and after a sale will create trust, one of the most coveted qualities in a business relationship. Once you’ve proven that your relationship extends beyond the transaction, you’ve earned the right to ask for business…and most clients will gladly send it your way.
Pursuing technology just for the sake of it is a bridge to nowhere, but if you use it to build meaningful and lasting relationships, not only will the leads come rolling in, you’ll really enjoy working in real estate. For more strategies on how to bridge the gap between technology and relationships, join us at this year’s Success Tour. For more information, visit buffiniandcompany.com/successtour. Hope to see you there!