The Secret To Capturing All Potential Leads Without Losing Anyone in the Process

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Nothing is more important to your business than the people that you work so hard to drive to it. So when you do get interested parties coming to your website, calling your phones, sending emails or even walking right into your place of business – the last thing you want is to lose them. As part of my ongoing commitment and ambition to foster and support success in your professional life, I wanted to share with you one of the most critical aspects of getting, keeping and nurturing new business.

Proficient Qualification

This sounds like a fancy marketing technique – but in all honesty, it is just a matter of classifying your incoming clients to determine where in the process they stand. Old school techniques may have involved simply responding in varied ways or employing different methods for each type of client. But in today’s technology-centric, fast-paced and “now” world, the concept of qualifying your business weighs heavily on systematic approaches that are highly time-sensitive and involve an overall strategy.

Converting Suspects to Prospects

Traditional real estate speak has always entailed the use of the word “prospect” from the get go when referring to a potential client. Though that is the only thing we have ever heard as agents, it is time to evolve into the new way of looking at prospective customers. As I have demonstrated in my video above, the best way to view incoming traffic – regardless of whether the source is through your toll-free number, signage, website or other media – is to consider them a suspect. I use the word “suspect” because until you know exactly what their needs and intentions are regarding real estate, you can only guess as to whether they are a potential client.

I will cover how to transition beyond the initial suspect stage in the next section, but once you have identified a suspect, the next thing you need to do is to qualify them into a prospect. A prospect is someone that not only has the potential to buy or sell property but also has the means to do so. This is when you have put your qualifying system in action and made the determination of what this client is aiming for.

Once the prospect actively makes the decision and is ready to buy or sell, they become a lead. You know this is serious, requires the utmost, immediate attention and will likely yield a sale so this is the stage where you will put forth a stronger effort.

Finally, once the lead materializes into an actual purchase or sale of property, the scenario then changes over to what we all want – a contract.

The ABCs of Generating Leads

Like many unsuccessful agents in the past have realized, there is an art to finding clients. And even though the clients we are talking about here today have been routed to you via your own marketing efforts, you must still do everything in your power to capture their interest and keep it intact. The most effective system that has consistently worked for my agents – and is proven to have worked for me as well – is literally as simple as ABC.

Once you receive communication from a suspect you will want to determine whether they are an A buyer (someone looking to buy in the next 30 days or less), a B buyer (a 30-90 day range) or a C buyer (either unsure or wants to wait at least 90 days or more). How you handle each will vary at each respective stage but before that, you need to put an effective system in place that will allow easy and efficient classification of each incoming inquiry.

On my website you will find the same form that I use to classify incoming suspects’ inquiries. I invite you to look at it, use it, tweak it to your tastes or even make up your own. Regardless of how you devise a system, it is essential that you have a system in place.

If You Snooze, You Stand To Lose

Never underestimate the power of communication and with real estate this could not be truer. Once you have your systematic approach in place it is essential to keep up with it. Maintaining positive cash flow is critical to your business and one of the most effective ways to ensure this is to keep on top of all incoming requests or sign-ups.

Another key aspect of classifying in a way that will help more than hurt your business is to classify your suspects correctly. If you misjudge your clients’ needs by not asking the right questions or failing to recognize what they really need, you stand to lose their interest or worse, their business. An example is thinking that a client is ready to buy next week when in actuality they are just browsing the market, unsure about buying altogether. You could be spending valuable time driving around showing houses to an immediately viable prospect instead.
Anyone can be a success in real estate as long as they put in place solid systems that are designed to maximize the resources that the agent is already banking on to grab new business. The difference lies in what you do with that business once it walks through your proverbial door. I hope you find value in the information above and strive to provide much more in the coming weeks and months ahead. I leave you with one last tip for today. One of the best approaches for qualifying potential business is to implement a 7-point conversion method. I’ve made it available on our website and welcome you to take a look.