44% of Agents Give Up on Leads After the First Try. Here’s Why You Shouldn’t

About 44 percent of real estate agents give up on leads after the first try. But the Lamudi Academy training coaches said you shouldn’t. This was among the key discussion points in the recently concluded Lamudi Academy Live session.

About 44 percent of real estate agents give up on leads after the first try. As a result, they lose opportunities that could have been closed deals. 

In the recently concluded Lamudi Academy Live: Increasing Your Conversion Potential, learning facilitators emphasized the importance of being persistent and retargeting leads. The in-person event, attended by various real estate practitioners from different brokerage firms, was held on June 15, 2022, at the Lamudi headquarters in Makati.

Why Retarget Leads

On average, customers take six months before purchasing a property. Since a piece of real estate is a huge investment, people naturally take a lot of time before proceeding with the transaction. 

This is one reason brokers shouldn’t give up on their first contact with leads when there’s no client response. A property seeker may be sorting out finances or reconsidering their home location preference, which may be delaying their decision to push through with sealing the deal.

The training facilitators also presented the simple possibility that a property seeker may just not be available at the moment of contact. This is why it’s important to vary contact attempts, switching up the day of the week or the time of the day when reaching out to leads.

The coaches emphasized the importance of regular retargeting, recommending at least six call attempts. When done right, this move can actually boost the conversion rate by 70 percent.

Citing SalesGravy, the facilitators advised, “Be persistent, be polite, and be professional, but not pest.”

How to Retarget Leads

Lamudi Academy added that retargeting strategies should include spacing out contact initiatives and using different platforms for communications. Under social media platforms, brokers can use Facebook, LinkedIn, and YouTube. The last one allows agents to showcase the property visually. 

Video conference tools may also be used, namely Skype, Zoom, and Google Meet. Meanwhile, for quick communications with clients, agents can touch base via Messenger, Telegram, Viber, and WhatsApp.

With persistent, polite, and professional retargeting, there’s an increased likelihood for better lead conversion.

Beyond tactics, the right tools matter when it comes to retargeting. In this case, the Lamudi Lead Management Tool proves to be useful. The platform’s lead tagging feature allows brokers to organize leads based on property seekers’ level of interest and willingness to push through with the transaction. Using this, professionals can revisit cold leads, which can be re-contacted.

Meanwhile, the lead profiling feature enables users to include key information about clients. When brokers get in touch again with cold leads, they can easily refer to the details posted on their profile. The same principle applies to the messaging feature. Brokers can refer to previous exchanges with cold leads to reopen lines of communication.

Using the filtering feature on the Lamudi Lead Management Tool, users can have a list of all the cold leads that are worth tapping into again.

What’s Next on Lamudi Learning Sessions

The Lamudi Academy will be conducting another Increasing Your Conversion Potential learning session this June 22. The training will be held virtually via Zoom from 1:30 to 3:00 PM. It will be exclusively offered to active Lamudi subscribers.

Increasing Your Conversion Potential is under Lamudi Academy’s Marketing Strategies learning curriculum. Other modules under this pillar include Maximizing Your Online Presence, Networking for the Digital Age, and Effective Email Marketing.

Maximizing Your Online Presence tackles effective social media marketing strategies. Networking for the Digital Age equips brokers with online marketing tactics to build and maintain a strong professional network. Meanwhile, in Effective Email Marketing, brokers learn how to create attention-grabbing emails that attract and retain clients.

On top of Lamudi Academy’s training sessions, Lamudi invites real estate professionals to attend the upcoming The Outlook 2022: Philippine Real Estate Conference. The in-person event will feature thought leaders discussing the industry’s vision for a better built environment for the Filipino people. 

The conference will include five tracks:

  • Envisioning the Homes of the Future 
  • The Home as a Relaxation Destination 
  • Residential and Office Trends Reshaping the Market 
  • Addressing the Affordable Housing Backlog 
  • Vertical Living: Where and Why

The Outlook 2022: Philippine Real Estate Conference will be held on August 31, 2022.

In the meantime, brokers can attend the upcoming learning session on Increasing Your Conversion Potential on June 22, 2022. Those interested can reserve their slot here.

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