You’re at a standstill—you’ve managed to generate several real estate leads, but there’s been no movement since. You make a few phone calls, send off some e-mails, and nothing. Crickets.You carefully retrace your steps, but can’t seem to pinpoint exactly where in the process you went wrong. Sound familiar? In this post, we break down possible missteps and shed light on why your contacts aren’t converting to clients.
4 Reasons Why Your Real Estate Leads Aren’t Converting
You Don’t Understand Your Real Estate Leads
Many real estate agents make the make the mistake of applying the same conversion strategy to every real estate lead. Unfortunately, there’s no one-size-fits-all formula when it comes to lead generation. If you don’t understand what your ideal prospect’s wants, needs, pain points, and motivations are, the methodology you’re using may not be connecting you to the right people.
You’re Selling too Early
Several factors come into play with real estate sales and purchases. The process can be very stressful and jumping too quickly into the transaction opportunity can be off-putting for many of your real estate leads. Focus on establishing a relationship and building trust first and the sale will follow.
You’re Giving up too Quickly
Don’t give up if you’re not connecting with your real estate lead right off the bat. Remember—persistence is key and if you are in a market saturated with heavy competition, you gradually eliminate your competitors by following up. If your real estate lead doesn’t respond after the first few attempts, diversify your strategy and continue to reach out by phone, text, or e-mail.
You’re not Nurturing the Relationship
Lead conversion is a marathon, not a sprint. Some real estate leads are simply not ready to make a move yet and are just exploring their options. If you’re in this business for the long haul, your success will depend on how you cultivate relationships with people over time. So, be sure to keep in touch with prospects regularly—e-mail a monthly newsletter, send out a hand-written birthday card, and check in by phone periodically. When they’re ready to engage, your name will be top of mind.