Last Updated on
For a real estate agent, maintaining a healthy pipeline of leads is of utmost importance to convert a sales pitch into a done deal.
For a real estate agent, maintaining a healthy pipeline of leads is of utmost importance to convert a sales pitch into a done deal. It’s not every day that a realtor is flooded with clients looking for properties to buy. More often than not, there’s always a lull when it comes to selling an array of properties, especially when the market fluctuates and interest rates are high. When this happens, not only does a real estate agent’s momentum stop, but his or her commission checks grind to a halt.
That’s why it’s better for a real estate seller to always be prepared with an arsenal of strategies and lead gathering tactics in case the property market becomes a bit unpredictable. And with a ton of technology tools easily available nowadays, generating those real estate leads has now become relatively easier.
While there aren’t exactly any set rules that guarantee a sure fire way to close a property deal with a client, there are guidelines and helpful ways that could help a real estate agent become more effective and efficient in selling properties. Some of these are as basic as building and strengthening partnerships with clients and other related businesses that could help a property seller go further with his craft.
Build partnerships, strengthen alliances
As you add more and more clients to your list of potential buyers, the higher your chances are of selling your properties. By networking with others who are in businesses and industries that have something to do with the real estate industry, you increase your list of potential clients. Befriend those in industries and sectors who might introduce you to potential property seekers. These might be people who work in insurance companies, in banking and financial firms, home cleaning services, architecture and landscaping establishments, and even those who are involved in TV shows that stage and promote home improvement ideas. Invite them to your housewarming parties to show off a property you’ve been wanting to sell for a long time.
Think outside the box and attend local events that you enjoy and have anything to do with real estate. Who knows? Your next client might come from that yoga class of yours, a painting workshop you’ve attended, or your favorite book reading club. Just be careful not to oversell yourself or the properties you’re selling. Instead, make your real estate services shine when they ask what you do.
Use technology and social media to your advantage
Take advantage of the current crop of gizmos and gadgets, as well as social media tools, that are available to make your sales pitch – whether subtle or not – more effective and efficient. From Facebook and Instagram to YouTube and a personal website or a blog devoted to the properties you’re selling, these social media apps, when utilized properly, could do a chunk of the selling for you. Take the time to understand how these apps and tools could work to your advantage. Consult your friends or people who are comfortable and are experts in using and navigating social media sites to expand your reach to potential clients.
If you’re trying to target millennials, it’s probably best to avoid emailing them since many of them would rather use Facebook and Messenger when checking messages. Since they are often on their phone, texting them is actually more effective than sending them an email, which would probably just get buried under an avalanche of emails from a million other firms desperate for their attention.
Find your niche and become an expert
Focus your marketing efforts on a specific group by specializing in a certain neighborhood or in historic homes or modern luxury condos. This will help you develop a reputation as an authority on and a go-to real estate agent for these particular types of properties for both buyers and sellers. You don’t need to be an expert at the soonest time possible. Take the time to decide which niche interests you the most. Then, immerse yourself in that sector. If you want to zero in on student housing or helping young couples find their perfect homes, learn what their needs are and do a lot of research on that demographic group. Work with financial planners and commercial lenders to understand their requirements for these specific type of clients.
Organize educational events about buying properties
Become a resource person when it comes to home buying by teaching members of your community about buying their first home, what the market is like, what to look for in a rental property, and other nitty-gritty aspects of home buying. This not only builds your personal brand and reputation as a realtor but drums up your real estate business at the same time. It also helps expand your network of potential clients. You might want to partner with local businesses such as banks and landscaping firms to host such seminars over lunch.
In the real estate industry, developing and mastering effective lead strategies could help a real estate agent close that deal. After all, leads are the lifeblood of the property sector.
Sources: The Close, Hubspot