June 30, 2022
Your marketing strategy has finally worked! Organic and paid leads are finally coming in. But now what? What is the next step to ensure that a new lead will go down the sales funnel and turn into a sale?
In this episode of the Keeping it Real podcast we sat down with Greg Harrelson to talk about what you should do as an agent. Keep these tips in mind so you’ll know how to take action and convert those leads into paying clients!
New Perspectives: The Right Ratio for Your KPI
Before everything, let’s discuss your key performance indicators or KPIs. Most agents refer to the contact-to-close ratio, which frequently shows low numbers. That’s why we want to introduce a better KPI to help shift your focus: capture to contact.
This way, you can focus on increasing your number of conversations versus closings. You’ll be in touch with more people you can convert instead of contacting a few leads and converting even fewer.
Reaching Out to Your Leads
Now that you have leads, it’s time to contact them using a method called double dialing or calling them twice. This changes their way of thinking and prompts them to answer you on the second call. However, if that doesn’t work, you can activate a workflow on the Real Geeks customer relations management (CRM) platform. That way, you’ll have as many touch points with the lead as you need to close the sale.
Make sure you’re in control of the platform or autoresponder and not the other way around. Your leads will be more willing to engage with you if there’s a recognizable human element to these communication efforts.
There’s No Dead Lead
As a real estate agent, you’ll want to abandon the phrasing “dead lead.” They might be inactive, or maybe they’ve simply “ghosted” you, but they’re probably still looking to buy a property — just not with you. You need to activate a workflow that will reengage them or contact them manually so they can have a one-on-one conversation with you.
Nurture the Lead, No Matter What Phase They’re In
You may encounter leads that are not ready to buy or leads that are just thinking of buying. Many agents abandon these leads in pursuit of those more likely to convert immediately. However, it’s essential to keep the three phases of a buyer in mind: dreaming, exploring, and buying.
If somehow a buyer calls you and is ready to buy, remember that they’ve probably talked to other agents who abandoned them early in the game, thinking that the buyer was still in the dreaming or exploratory phase. So be patient, nurture those leads, and take advantage of technology like the Real Geeks CRM to ensure that you manage them efficiently.
Realistic KPIs You Can Target
For a contact-to-closing ratio, 16% – 18% is good enough for the average real estate agent, but it’s low compared to the potential of a capture-to-contact ratio. For that, you can focus on getting at least 30% before aspiring for 60% – 70%. That’s an almost 300% increase in contacts, with no additional expenses!
Contact Real Geeks!
Ready to learn more about our real estate CRM? Contact us today and tell us how we can help! You can also watch this podcast episode on YouTube for a more in-depth discussion of the concepts above.