Real Estate Leads 101 - Are You Copping Out of Following Up
Working with a lead generation company has given me interesting insight into both real estate leads and agents. I dealt with both ends: the consumer and the agents themselves, and my job was to make them both happy. Yeah right. Easier said than done.
The consumer side is easy - real estate leads want a home value, they want information on the market, they want a real estate agent and we get them that. The real estate agents? Well that's another story - they pretty much wanted everything under the sun when it comes to real estate leads. They wanted to be handed people ready to list their homes with them asap, with no work involved on the agent's part. They want listings, not real estate leads.
Well, if I could provide that consistently, all the time, I'd either have a multi-million dollar company, or I'd be doing real estate full time myself. Get this through your heads agents: there is no magic service out there that will hand you listings for a low fee. Instead, these services provide you with real estate leads and it is YOUR job to turn them into clients. Got that? Real estate leads + you = clients!
YOU went to the classes, YOU studied up on sales and marketing techniques and YOU printed up all kinds of trinkets with your name and logo on them for your real estate leads. Ergo, YOU must convince your real estate leads to work with you. And if you're not converting them, maybe you need to take a look at your own methods, rather than immediately blame the source of the real estate leads.
By now, I've probably heard every excuse under the sun as to why online real estate leads are bad or bogus. And that's all it is, an excuse, a cop out to make you feel better about not being able to turn your real estate leads into listings. That being said, here are the top 5 cop-outs I've heard over the years about following up with real estate leads and my responses to them.
1. I'm a new agent and no one wants to use a new agent.
Well, how do they know you're a new agent? Did you announce it the second you spoke with your real estate leads? You don't need to tell all your real estate leads that you're new. If they ask, tell them, and be honest, but don't just volunteer the information. And how to you know "no one" wants to use a new agent - sounds like a gross generalization to me. You won't know until you get out there and try - convince your real estate leads that to be new means you're cutting edge, the best thing out there right now, show them what an expert you've become, even if you're new to the business. Just TRY to convert them. Assuming from the start your real estate leads won't want to use you because you're new doesn't even give you a chance.
2. Some real estate leads are on the Do Not Call Registry.
So? There's no such thing as a Do Not Knock list. If your real estate leads are on the DNC Registry and you feel THAT uncomfortable risking a call, you should have your butt in the car, directions in your hand and preparing yourself mentally for your introduction once you knock at their door. And actually, as per the basic rules of the Do Not Call Registry, if a consumer on the lists makes an inquiry (which is what online real estate leads are!), you can contact them for up to 3 months after the inquiry. So you've got 3 months to get them on the phone, after that, there's still always that door! Don't use the DNC as a cop-out method with real estate leads. It's a flimsy excuse.
3. It's unprofessional to go knock on someone's door.
This is the line I usually got after suggesting stopping by the property. My thing is, who said so? Who told you it is unprofessional to go visit your real estate leads' homes and drop off the information they requested? That is a matter of opinion and as long as your real estate leads don't think it's unprofessional, you're good. And by showing initiative and going out of your way to meet your real estate leads, you may have just earned a client for life.
4. These real estate leads are too far from my area, or it's in a very bad part of town.
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