Anyone with a sales-related job understands the value of a lead. Which means that experienced REALTORS know the value of real estate leads. But for brand new agents, the whole idea of leads can feel large and overwhelming. Here are some tips to show that working with real estate leads is not only NOT scary, it’s essential to the job!
What is a real estate lead?
In it’s most simplified form, a real estate lead is the name of a person (or persons) that could become a client and a way to get in touch with them. It could be a phone number, business card or even just an email address to start. It can be pretty basic and it may not indicate that the person wants to do anything right now. But, it’s a start.
Where do REALTORS find real estate leads?
Newer agents sometimes get hung up on where to “find” real estate leads, but the truth is they are everywhere! Networking events, friends, family, open houses and client referrals are all great places to start generating leads. REALTORS can also use direct mail (mailers, flyers, calendars,etc) and social media marketing to drum up leads.
What does a REALTOR do with a lead?
First, let’s start with a what a REALTOR should NOT do with a lead: assume it’s a dead end. Obviously, the goal is to convert a real estate lead into a real estate transaction. However, it often takes time. Now, here’s where it can be tricky: it’s important to get leads for people who want to take action in the near future, without giving up on the long-term leads that could become sales later. Here’s a great post on that.
So, an experienced REALTOR will develop a system for reaching out to all leads while sorting through which are short term and which are long term. The REALTOR can then spend the right amount of time on the right leads to convert into clients, with a method for staying in touch with the long-term leads for later. It’s not uncommon for the long-term leads waiting to take action to become excellent referrals too!
The bottom line is that REALTORS are just like any other salesman and it’s important to have a set-up that not only generates leads, but nurtures them into conversions. This is another reason why finding the right team is a great benefit for new agents. With strong team support and experienced mentor agents, newer agents are more likely to develop an impressive and successful lead system.
Are you a Nashville REALTOR looking to grow your personal business and fine tune your real estate lead system? Call DeSelms Real Estate today at 615.550.5565 and learn what joining our team can do for you!