You need to make sure you have the pipeline you think you have, or your listings and sales will suffer. The first key is to have a lead magnet bringing customers to you so you have plenty of listings in the market every month.
One of your best lead magnets is your social proof, and the most basic form is having your for sale and auction signs on lots of properties, and sold stickers applied in a timely manner. And of course, open for inspections are a primary source of leads. You will meet a good number of investors and first time buyers this way, especially in the lower section of the market.
First time buyers are potential future customers because they are least likely to stay in that first home for more than 3 years, so maintain relationships with those people and they will come to you when they need an agent to sell that home as well as buy their next property. Being aware of where your potential customers come from is vital. Property management investment leads are also fertile ground for nurturing future transactions.
The lead nurture cycle comes next, and involves actively moving clients toward their next steps before losing momentum with them. Sending out market reports is good, but you also have to meet with as many of those clients as possible and track on their progress so you can identify who might be getting ready to move forward. Make yourself available for market appraisals, updates on property values, investment advice, property improvement tips, and making sure your clients always know their options.
From lead generation through lead nurture, the next step is lead conversion through the listing presentation. All these numbers need to be measured and evaluated regularly.
Let’s review the core categories in your database:
• Buyers
• Buyer hit list
• Potential sellers
• Market appraisals
• Seller hit list
• Current listings
• Past clients who bought from you
• Past clients who sold with you
• Key referrers
• Landlords
You need to know how many people you have in each category in order to see what stage each client has reached in your pipeline and where any blockages are.
List consistently and you will sell consistently. Every day your commitment is to make those calls, book those appointments, meet with your clients, track the numbers and keep that pipeline flowing smoothly.
I hope you’ve enjoyed today’s Coaching Tip, and I look forward to seeing you here again next week.
Excellent tip