July 8, 2021
Download our checklist and start converting more leads
Are you tired of paying for real estate leads?
Maybe you’re not getting the ROI you were promised when you purchased the leads?
It seems like every lead generation tool boasts that they supply “the most qualified and ready leads on the market”.
Yeah, well your lead conversion rates tell a different story.
You have big dreams for your business, but to make those dreams a reality you need more leads…
Or do you?
We know you think you have a lead quality issue, but you don’t.
It’s possible that you could be doing more with the leads you already have.
Here are 4 ways to convert 15% more real estate leads with the leads you already have.
Afterall, you want to work smarter, not harder.
Email is a great way to share information once you have an established relationship with someone, but it’s terrible for engaging your incoming leads.
Think about it…
Your inbox is probably busting at the seams. So is your lead’s inbox.
Your well crafted automated message is lost in the sea with other businesses vying for your leads attention.
Emails have about a 20% open rate and a 6% response rate.
That means that if you’re getting 300 leads a month only 60 people are opening your well crafted emails.
And if only 6% are responding that means only 18 people are going to engage with you.
You’d have to pay for 1600 leads just to get 100 leads to respond via email.
If you’re paying $5 per lead, that’s $8,000 just for 100 leads to respond to you via email.
That’s a lot of money and a lot of wasted potential.
Automation is an amazing time saver and has its place in business. But if you’re relying on your email sequence to convert more leads you’ll fall short every time.
Did you know that over 50% of real estate leads are never followed up with.
But, by the 6th followup attempt, more than 85% of people that will engage will make contact.
Persistence in this business is key.
You’re giving up and calling a lead cold or dead before you’ve exhausted your follow up attempts.
Simply paying for more leads won’t actually convert more leads if you don’t reach out to them at least 6 times.
And by following up 6 times you can potentially convert way more of your existing leads. Let’s crunch some numbers…
Let’s say you have 300 leads per month and you reach out to all of them once.
If 40% of them engage with you that equals 120 leads, but not all of those leads are qualified and ready to work with an agent, hence the problem.
Now if you followed up with those leads that didn’t respond on the first attempt 5 more times you could potentially make contact with an additional 135 people.
That's contact with leads you’ve already paid for.
If you just follow up with all of your leads once, you would have to pay for another 338 leads per month to make contact with the same number of people.
That’s 638 leads to get the same results you could get if you just followed up with your existing leads 5 more times.
You’re so desperate for a quality lead that you dive head first into the wrong questions.
Imagine you’re at a bar and you see someone you are interested in talking to…
What are you going to do when you approach them?
Are you going to jump straight into asking them to marry you?
Because if you do, you’ll probably be labeled as a weirdo and the person will get up and walk away.
Instead, what you’d probably do is walk up and introduce yourself. Maybe you’ll ask their name…
The more times the person responds to your attempt to engage them, the further you can push your questioning and the greater your chances of getting to know the person.
Same applies for your real estate leads.
You shouldn’t lead a conversation with, “So, why do you want to move?”
Instead start with a softball, “How many bedrooms are you looking for?”. The question requires no thought and the person can answer it very easily.
Once you you’ve gotten consistent engagement after asking a few softball questions like:
Then you can move on to questions like:
Switch your focus to engaging and getting your lead to respond before you start trying to qualify.
We know you’ve been taught that real estate is a phone and in-person business. It’s all about creating connections and relationships.
At Smart Alto we agree. Getting on the phone is critical to growing your business.
Where we differ is that we believe that texting is the best way to convert your real estate leads and ultimately get on the phone with them.
(Not sure who to call? Download our Ultimate Checklist For Which Real Estate Leads To Call First).
Because texting is far more effective and scalable than calling.
We’ve already established that you have to follow up with leads a minimum of 6 times.
If it takes you 1 minute per call that means you can call 60 leads in an hour, assuming no one answers. We already know most won’t.
To call all 300 leads, that’s at least 5 hours of calling.
If you follow up with each of them 6 times, that 30 hours of calling each month.
You’re too busy for that. You have:
And besides, people prefer to text. How many times do you wish you could have just texted a business to resolve an issue or ask a question?
Your leads are no different. They want to text you. Check this out:
78% wish they could have a text conversation with a business. Why not meet your leads where they want?
You know you need to convert more leads to grow your business.
You know paying for more leads isn’t the only solution, otherwise you wouldn’t be here.
At Smart Alto we are passionate about helping real estate agents convert more leads and grow their business.
And we’ve logged a lot of hours engaging and converting real estate leads.
If you want to learn more, schedule a demo. We’d love to talk.
In the meantime, download our Checklist: 4 Ways To Convert 15% More Real Estate Leads for easy reference next time you sit down to follow up with your leads.