I Just Got a Buyer Lead... Now What?

Few things in real estate are as precious as a lead. Leads are the lifeblood of any successful real estate career.

When it comes to converting buyer leads, the best practice is to leave nothing to chance with your effort and have a robust, repeatable process that you continuously optimize over time.

If you're having trouble converting buyer leads or just want to up your game, check out the following buyer conversion tactics:

1. Keep Track and Stay Organized with your Leads

In the world of real estate, staying organized and keeping track of your leads is crucial for success. Using a CRM (customer relationship management tool) is the most effective way to go - these tools are tailor-made for keeping track of and staying in front of your contacts. They're ideally set up for your conversion efforts. In addition, most modern CRMs also include marketing automation and other features that can create significant efficiencies and capabilities for agents.

However, while a CRM system is an excellent tool for managing your contacts and streamlining your workflow, it's understandable that some agents may not be quite ready or comfortable enough to dive headfirst into a full-fledged CRM solution. The most important thing is to have a system in place that works for you, whether it's a paper-based method, a spreadsheet, or any other approach that helps you stay organized and on top of your leads.

Remember, generating leads is a challenging task, and every opportunity counts. By maintaining an organized system, you'll be better equipped to nurture those leads and increase your chances of converting them into clients.

2. Apply Automated Drip Campaigns for Top Of Mind Awareness

Drip campaigns send out automated emails and texts, and give the agent prompts to check in with prospects directly. While they tend to have limited open rates and only do so much for conversion, they provide important top-of-mind awareness to the prospect and are part of a multifaceted marketing approach.

3. Apply Property Alerts

Property alerts are automated emails that send MLS listings to a buyer that match their search criteria. This is a key step in the conversion process, and statistics indicate that you are 20-30% more likely to convert a lead if they are receiving and engaging with property alerts from you.

4. Follow Up And Follow Through

Most leads aren't going to fall into your lap. They can be elusive, and you have to be persistent to win their business. Make multiple attempts to reach out (via text, phone, etc.), provide value in your interactions, and trust that your efforts will pay off over time.

5. Get The In-Person Meeting

Another key conversion point is securing a scheduled meeting. Ideally, these are in-person, but phone or video calls can also be effective. Just like having your lead receiving and engaging with your property alerts, getting a scheduled meeting is a critical factor in determining whether you're going to win their business or not.

6. Don't Give Up Too Early

Converting buyer leads can be a slow burn. Oftentimes, buyers sign up to search for properties or receive information early in their "research" phase, and aren't looking to connect or commit to an agent right away. There's a subtle art to reaching out enough and being top-of-mind with prospects without overdoing it or asking for too much too soon, which can jeopardize the potential relationshiphips.

In Closing

In closing, converting buyer leads is a critical skill for any real estate agent looking to build a thriving career. By staying organized, leveraging automated tools, providing value, and maintaining persistent (but respectful) communication, you can significantly improve your chances of turning those precious leads into loyal clients. Remember, success in real estate is a marathon, not a sprint – by consistently implementing these tactics and refining your approach over time, you'll be well on your way to mastering the art of buyer lead conversion.