fb-convertmoreleadsThe strategies you use to successfully convert leads are a big factor in your level of productivity. As we are able to find leads through an increasing number of channels, it can be challenging to identify the best ways to move toward conversion. Taking advantage of the opportunities that come via the Internet can require some new ways of thinking, and creative combinations of tools that you might not have tried before.

One traditional yet effective way to move an online inquiry into the pipeline is to make contact by phone. Following up is critical, and it’s amazing how frequently initial contacts are ignored.

For example, the WAV Group measured lead responsiveness from a sample of 384 different brokers across 11 states. Researchers inquired about online listings and recorded the data on responses by agents. In their experience:

  • 48% of buyer inquiries were NEVER responded to.
  • Average number of call back attempts after the initial contact was 1.5.  
  • The average number of email contact attempts was 2.07  
  • Average response time was 917 minutes (or 15.29 hours).  

So, strategy number one: RESPOND. Beyond that, many industry coaches recommend using the phone to convert these online leads. Here’s a roundup of wisdom on the subject.

#1. Tom Ferry

Ferry’s blog is loaded with information, videos, and interviews. He has an energetic style and provides specific tips for being more effective in using your phone for lead conversion:

Tom Ferry’s 6 Communications Tips

  1. Know your customers pain and know their problems. Examples: market conditions, past purchasing experiences
  2. Know your dialogues. If you want to be good on the phones you have to practice! When you know what to say and how to say it, you can be more in tune to your customers’ needs.
  3. Get to the point! Example “I’m calling today to schedule an appointment…” Give two options for setting a time.
  4. Stand up when you are making calls! Your body controls your tonality and your emotional state.
  5. On the phone = 20% effective sensory communication. Remember that when you talk you are only engaging in one sense out of five. Speaking clearly is important.
  6. Get the fear out of the way with these 3 questions: What’s the worst case scenario? What’s the most likely scenario? What’s the best case scenario?

#2. Jared James

A professional speaker, author, coach, marketer and entrepreneur, Jared James has a YouTube channel filled with tips and tricks for lead conversion. He makes no bones about the critical nature of timing.

Five minutes can be the difference between a deal and no deal —and industry experts like Jared, Chris Smith and others agree. When you contact a lead within the first 5 minutes of their initial inquiry, the chances of converting that lead go up 100x. That’s because there’s context around that moment —they’re still on your website, they’re still thinking about you, and they haven’t been taken over by the wave of all the other things on their plate.

Jared talks about how to do this yourself —or with an inside sales assistant— and reminds you to perform an immediate call back rather than leaving a voice message.

For other tips on how to convert more real estate leads, check out Jared’s recent video.

#3. Ken Goodfellow

On the Goodfellow Coaching blog, the topic of lead conversion is often discussed, and Ken recognizes the importance of the personal touch that a phone call creates:

Initially follow up with the lead through email or text — but follow up with a personable phone call shortly after. Simply restate your position in a unique and refreshing manner.

#4. Lee Davenport

A quality CRM is part of any follow-up and lead conversion strategy, and Lee Davenport —coach at Learn With Lee— offers great insights into what features your CRM should have to help you respond quickly to incoming inquiries.

She mentions a situation that most agents can relate to: You’re sitting in a 3 hour CRE course and receive an inquiry. Will your CRM automatically respond to the inquiry with a personalized message? Here are some more functions Lee recommends.

Need more coaching insights? Check out Inman’s list of the 25 Best Real Estate Coaches. And, to power up your conversion, check out our CRM tools at WiseAgent.

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