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Converting a Lead To a Potential Client

Real Estate is a huge industry since sales agents are paying and competing for almost the same business opportunities. Frequently, it is a challenge for agents to find prospective leads within the fierce competitive environment nowadays, so marketing is one of the most vital aspects of any business. Unless you’re able to ceaselessly find new leads (and convert those leads into paying clients) then your business will simply come up short. You can’t be the leading Real Estate agent, without prospects, and in case you don’t know how to convert a lead into client, so this article will assist you a lot.

Lets first define the difference between a Lead and a Prospect, because some agents don’t know the difference between both terms. A Lead is someone who has the potential to become a sale. Using this definition, the agent might possibly consider all of his friends and relatives to be Real Estate leads. A Prospect is someone who the agent is already in contact with and is interested to buy or sell a property in the near future.

After defining the difference between a lead and a prospect, here comes the process of converting a lead into a client:

  • Phase One, is known as the lead generation. Real Estate leads, or prospects, are individuals who have the potential to inevitably turn into a Real Estate client.
  • Phase Two, is building up contact with a lead which should be done as quickly as possible, and the objective of this phase is to create an initial discussion to decide whether this lead is qualified or not, this discussion should eventually end with a one-on-one meeting, and the essential and most important technique is that the priority to be for the client and his needs, not to be thrusting the deal.

5 Stages of Marketing for Converting a Lead into a Client:

  1. Lead Generation: the stage of distinguishing and starting to contact with the prospective leads.
  2. Lead Nurturing: the process of following up with the prospective lead by adding and delivering valuable content related to his request.
  3. Lead Conversion: the stage of converting leads into paying clients, this stage comes as a result of the previous 2 stages, which stimulates the desire to purchase an asset or service and thrust a lead towards a purchasing choice.
  4. Client Servicing: the process of working with clients to aid them reach their Real Estate goals in the most pleasant way possible, so that they are simply motivated to refer others to you.
  5. Client Retention: the stage of supporting a client in moving into their new home and continually providing them with an added value to strengthen the relationship and keep you on the top of their thoughts when they are ready to buy/sell/refer others to you again.

Steps to Be Followed Upon Getting a New Lead:  

  1. Contact to The Leads Immediately: This will be the introductory contact with the lead, so it’s critical for the agent to present himself and communicate how he has gotten the contact data. The agent needs to come over as knowledgeable, helpful and reliable. The objective of this step is to essentially have the leads contact you and begin the process.
  2. Ask Open-Ended Questions and Be Prepared to Answer Questions: Asking questions appears merely care about the prospect's request and situation, and listening to their answers will assist you come up with plan to start in implementing. Moreover, it’s a very good opportunity to demonstrate your expertise and the value that you provide to your clients upon encourage the prospect to ask questions of their own and you answering them.
  3. Follow Up: it's important to be persistent without being overbearing. Find excuses to keep in touch, even if it's just to inquire if there's anything you'll be able do to assist in. You need them to think of your name first when it's time to do business.
  4. Have a Unique Value Proposition: All agents understand the importance of creating a unique impression, but it’s more vital to create prospects feel unique.

Finally, it has taken a long time to follow the life cycle of getting Real Estate leads, as long as, it’s the only way to increase the conversation rate, be sure to schedule an affordable quantity of the time for the analysis period and always keep in mind that leads do not equal sales. The marketing efforts enable the agent to create a list of the top leads, leading to ease in closing the transaction.