Soon, 2020 will be in the rearview mirror and in the books as one of the most interesting years ever. There have been unprecedented challenges that have caused us to pause for a moment, reflect on our values and examine what makes a successful real estate practice. Here are three simple questions to answer to determine a baseline for your business:
1. Am I able to convert leads no matter what the external forces may be?
2. Are the tracking and follow-up systems in place clear and easy to follow?
3. Is there a defined strategy for lead-generating activities?
Start by looking at your lead funnel for the year. How many leads have you received? How many attempts have you made to contact these leads? Does your follow-up process reflect a consistent customer experience? If not, what is the process? How is your time being utilized? Breaking these elements down allows you to see the results of your lead conversion efforts. Moreover, this evaluation will provide insight into the avoidance of the very activity that can lead to the results you desire.
Nothing produces greater results than planned daily follow-up with leads. Provided there is a lead tracker system in place, each lead should be categorized so that it will be followed up with on a set schedule. Consider the ABCs of lead management. The A leads are ready to do business and scheduled on the calendar. Agents typically expend most of their energy on this group. The B leads are close to converting, but are not quite ready. Leads in the B category should be on track to convert within the next three months. You should be following up with these leads twice a month. Consider getting in touch on a set schedule, like the 1st and the 15th of every month. The C leads are the last category. These leads are disengaged or beyond 90 days to a conversion. You will want to give these leads a quick monthly check-in just to let them know they have not been forgotten.
Converting leads is a necessary skill every agent needs to master in order to have a successful and scalable business. Evidence has shown that daily role-playing practice for at least 30 minutes leads to higher conversion rates. This basic yet productive activity should be scheduled daily. It will allow you to move from reactive to responsive marketing and should result in a higher conversion rate. When should you make time to practice? Open your calendar now, commit to a daily schedule for the next six months and measure the results by tracking the leads.
Leads are abundant! It’s only a matter of reaching out and asking how you can be of service. Your leads need to know someone is there to support them when they are ready. Get in touch with us to learn more about the tools and systems to track your leads.
Paul Sessum is a master coach with Workman Success Systems who resides in Los Angeles. He became licensed in 2004 and has been selling, training, coaching and managing brokerages since. Contact him at firstname.lastname@example.org.