Watch this mastermind on converting online real estate leads into clients without coming off as too sales-oriented and risking turning off leads who aren’t quite ready to pull the trigger.
In this mastermind Zoom session, we are talking about converting online real estate leads. Particularly, buyer leads. One common issue when dealing with fresh buyer leads is that often, they are not ready to buy. Many, in fact, are in the “just looking around at listings online” phase. Don’t stress — we’re going to talk about some ways to follow up with them, take a deep breath, and help them gain confidence so they are ready to buy (with you) down the line.
VIDEO: Converting Online Real Estate Leads Into Clients Without Turning Them Off
What to do with buyers who won’t commit
The goal with any buyer lead, including an online real estate lead, is converting them to buying a house. But what can we do if, in this case, the buyer won’t commit to getting serious or even seeing a house? They may be indecisive or not feel ready to jump in and get more serious about their home search.
In this market, we are seeing record low inventory. This makes it a crazy time to be a buyer. And in turn, it makes it a crazy time to be a buyer’s agent. It’s very hard not to have a very frustrated mindset with your buyers. Feeling like I need to get them to make up their mind and just buy a dang house is going to lead to more frustration for you. And, it may turn your buyers off if they feel like you are pressuring them to hurry up already. Pressuring your buyers will not help them, and people won’t do what they don’t feel ready to do, period.
Get more buyers
Instead of pressuring the buyers you do have and focusing on converting those few online real estate leads, get more leads. Channel your energy and frustration into working on getting more buyer leads. Once you have ten, for example, you will have a greater chance that at least one will get serious. Keep following up with all of them until each is ready, and you’re pipelining more business for yourself without feeling like you need to push them to hurry up.
For example, say you are working with three buyer leads. You just can’t seem to get them to pull the trigger. You have been persistant about staying in touch and providing for their needs. Instead of getting frustrated because they haven’t made a decision yet, focus on getting seven more buyer leads.
In low inventory markets, you need to increase the number of people in your buyer pipeline. That’s where you focus needs to be because it’s getting harder and harder to find property, and they’re going to miss out on a lot more, so the process will inevitably take longer for your buyers. To make the same amount of money with less inventory to show, you need to increase the number of buyers you have.
How to follow up without being pushy
The best thing you can do here is be respectful of where your buyers are in the process. In all likelihood, these days, buyers are starting their search online. Some of your buyers may still just be at that stage where they are “just browsing.” Know and acknowledge where your buyers are in their home buying process! If you are talking to them in these early stages, your follow up calls to them should be based on customer service. You’ll just be reaching out to help them in the initial stages of their search.
It’s a lot like the old adage that I use often of shopping in a department store. The greeter at the front will ask you, “Is there anything I can help you find today?” You’ll likely reply, “No, I’m just looking,” even if you know you’re shopping for a leather belt. Your buyer may feel this way too — they are “just looking.” But remember, eventually, they are going to buy. You can’t obsess over converting your online real estate buyer lead right at the door! You want to stay with them and be available to help them find what they are looking for so that when the time comes, you’re there to help them buy that house.
Setting up e-alerts
By setting your buyer lead up on good, quality home searches, you can help them a lot. That’s a huge customer service move. Check in with them to make sure their emails are set up properly and they are seeing homes they like. Edit them as needed.
And if they want to be taken off certain searches like Zillow, tell them you can provide them with a better, more accurate search through your MLS access. Tell them it is “full Realtor access” to the listings available to them! You can also give them a call when you see a listing that you think will match their criteria. “Hey, I saw this listing pop up and I thought of you. I wanted to make sure it didn’t get buried in your email.” These are all impressive and helpful moves you can make as their agent before they even get serious about buying.
Market updates for your buyer leads
Another great customer service call to your buyer leads has to do with market updates. A great reason to call a buyer lead is to update them on current low interest rates. “Hey, I wanted to give you a quick call just to let you know that interest rates are really low right now. I know you might not be ready to buy, but if you’re interested in exploring how a low rate could increase your buying power, let me know.”
Education is key when converting online real estate buyer leads
When it comes to converting your online real estate buyer leads, education is huge. Whether it be through giving them access to listing e-alerts or keeping them updated on the crazy market conditions — you should never run out of reasons to talk to your buyer leads.
So many people still do not understand how hot the market is right now, and this is key for buyers! They need to know how fast things are moving, how great the rates are, etc., and you can be the one to help them navigate the crazy buying environment. Be in their corner. Provide them with excellent customer service! And when the time is right, you’ll have no problem converting these real estate buyer leads.