Transform your business

Back to the basics of leads

A lead is a consumer that is interested in possibly using your services, writes Ashley Lichty

Sometimes even the best real estate agents and brokers need a reminder of the basics when turning real estate leads into clients. Though the basics seem like simple skills on the surface, they are the building blocks of a strong business.

Rory Wilfong, co-founder of GetMyHomesValue and real estate trainer often comes across agents who lack these simple building blocks. I am often surprised how many agents don't have an effective plan for acquiring real estate leads, following up with their leads and then nurturing them to become future clients. Too many agents are simply stumbling over real estate leads and crossing their fingers in hopes that the lead will pick them for representation with their future real estate transactions.

With the dramatic increase of licensed real estate agents in the past few years, it is more important that ever that real estate agents are memorable to their real estate leads. If and agent wants to get anywhere with their real estate leads, they better stand out in the crowd. The best way to do this is effective and creative follow-up. It goes back to applying the relatively simple skills involved in sales, marketing and customer service and adding your own creative flair to get your real estate leads to notice you.

According to Wilfong, the definition of a lead is a consumer that is interested in possibly using your services either now or in the future. It's as simple as that. There are different types of leads from various sources. Another way to think of your leads are as clients. Start your follow up with the mindset that the lead will be your client.

Many agents rate their leads as cold, warm or hot, depending how far into the real estate process they are. Cold real estate leads lead to hot real estate leads. Many agents cast off hundreds of real estate leads a year because they consider them bogus. In Wilfong's experience, many agents say they cast many real estate leads with odd names off as 'bogus.'. He believes that driving to a home to present your information to Mickey Mouse himself is a great way to break the ice with the people actually living in the house.

Leads will almost always give a current address along with the fake name they may leave, simply because that is the property they need information on. You can't be afraid to do a little detective work and dig a little deeper if you want to be constantly converting your real estate leads into contracted clients.