Why You’re Not Converting Leads
Many Realtors have, in the back of their mind, that because they can convert warm leads and referrals that they can convert online leads. Unfortunately this simply isn’t the truth.
Converting online leads takes work, finesse, a great script—and in my personal opinion (although others will disagree) a genuine caring for the people who are speaking with.
Here are the top things that I’ve seen Realtors do wrong, and not convert their leads:
- They take the easy way out and email or text instead of calling. This simply doesn’t work as it doesn’t create the connection. While this can work for a warm lead or referral—it doesn’t work with online leads. Well, it can technically, but you need a TON of leads because the conversion rates are so low. The exception to this is if you’re working with a high-converting text-to-lead company, however there’s many, many out there that don’t work.
- ‘Hi, how can I help you?’ When you call a lead you approach them with the ‘Hi, how may I assist you approach?’. This doesn’t work. They don’t care. Think of it like going into a store like The Gap and someone asks you the same question…even if you’re looking for a pair of khaki pants, you’ll still say just browsing as a knee-jerk response.
- You’re offering ‘free home evaluations’. This approach has been so over used over the last decade that people have become immune to it. And those who aren’t, they’re going to get it from multiple sources so you’re in a battle for someone who is likely just curious what their home is worth.
- You’re not working hard enough. Realtors making 6 figures a year are having multiple conversations every day with potential clients.
- You’re giving up too fast. You called a lead and they don’t answer or they didn’t want to meet and list their home or sign a BRA, then you give up. I have clients who will call a lead twice a day 5 times a week until they answer (and then get a thank you from the people for not giving up on them!). I have clients who won’t give up if the first call doesn’t produce an appointment. That’s where your mind needs to be.
- You have a bad script. If you think it’s awesome but it doesn’t work—it isn’t the leads, it’s the script.
- You make excuses. If you’re not converting the same leads that other people are, it’s not the leads, it’s you. But that should just be used to figure out what they are doing that works—it’s an opportunity!
- You have no follow up. Most leads aren’t converted on the first call. Even for the lead-conversion rockstars. If you’re only trying to book an appointment and turn them into a client on the first call then you’re missing the majority of conversions. It’s real estate—not everyone is ready to buy and sell. You need to set follow ups (then deliver on those if they say a certain day/time to you can follow up—even if it’s months away). 80% of sales are converted after 5+ follow ups! If that sounds daunting then change your outlook, if you had to call someone 5 times to make a commission check—would you do it? Of COURSE you would!
- You’re treating leads like leads and not people. Not every lead is the same. Use your first call to create a plan for them. Not every plan will be the same. These aren’t leads they are people, and are like all of us…they are looking for someone who cares.
If you’ve spent money getting online leads but haven’t converted any of them—reach out to me, I can help. Do I have a magic bullet? NOPE. But with hard work you can convert like the pros J