Like virtually every industry, real estate has been profoundly altered by advances in technology. They influence how we list and value properties, communicate with clients, and handle transactions. There are tools for every aspect of the business, and customer relationship management (CRM) software can provide an all-in-one platform for tying it all together.

A valuable aspect of improved communication with clients is our ability to tailor our message. With available data, we can determine which prospects are likely ready to buy or sell, and what channels might be most effective for reaching them. Relevance is key to lead conversion, just as it always has been. There are strategies that have stood the test of time and still apply in the digital age.

#1: Building Relationships

Interacting with potential clients, whether in person, online, or by phone is still the only way to establish trust and create a relationship that will eventually result in conversion. Whatever channels you use, strive for “permission based” contact. Marketing guru Seth Godin defines permission marketing as, “the privilege…of delivering anticipated, personal and relevant messages to people who actually want to get them.”

Making sure your message is timely and relevant is easier when you categorize your leads. You can group them by demographics, by date of contact, location, industry, etc.  This allows for more sharply targeted communications, which are tailored to the interests and needs of a specific group. People appreciate getting information that helps them.

Using CRM you can track property ownership details, like tenant movement and lease expirations. This information all helps you to judge when a lead is warming up and will likely be interested in hearing from you. This is not a new tactic, it’s just souped up via technology tools.

#2: Focusing on Target Markets

Even though technology can free up your time, it’s still important to focus your efforts where they’ll be most fruitful. Keep the end in mind when you choose your tools. Email is not as trendy as social media, but it can be a powerful way to nurture leads. In fact, 98% of top-producing agents say that email is the best lead conversion tool we have.

Rather than sending the same message to a large mailing list, divide your recipients into several smaller lists based on criteria of your choosing, like location, industry, or the origin of the contact. This allows you to tailor the message and create a more useful email for each group.

This idea of focusing your work on areas most likely to bear fruit is not new, and efforts can be further sharpened using technology.

#3: Scheduling Touches

The idea of making regular contact with leads to check in or follow up with them has always been part of the business. It’s essential to schedule these communications to ensure that no one falls through the cracks. When business is really active it would be very easy to forget to make this contact if it weren’t built into your schedule.

This is still a very important strategy, and there are plenty of applications designed to manage this, creating “drip” marketing campaigns that take care of it automatically.

#4: Being Responsive

It’s critical to identify leads that are ready for some sort of action on your part. The same basic principles hold true no matter what tools you’re using to nurture your leads.

It’s important to be available and to respond quickly to inquiries. It’s important to know the needs and interests of the client, and to provide the information to address those needs. In fact, just responding at all puts you ahead of the curve. A study by RealTrends found that nearly half of all online real estate inquiries received no response, even though nearly 90% said that response time was very important to them.

Putting it Together

Whether you’ve been sitting on the fence or are ready to take your lead conversion to the next level, learn more about how WiseAgent can help streamline your business so you can focus on closing deals.

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