The real estate industry is about building relationships and generating real estate leads. The moment you’re missing out on leads, you’re missing out on valuable commissions and opportunities to grow your business. In this post, we are going to share some of the most common lead nurturing mistakes that realtors make and how to prevent them from happening in the future.
1. You’re ignoring Rental Deals
The truth is most realtors don’t like dealing with rentals unless they are their long term clients. However, every realtor out there knows damn well that rentals can turn into buyer deals in the future. Think of it like you’re a talent scout recruiting young talent before it matures and reaches its full potential.
Eventually, those renters are going to mature, grow, and become buyers, and you will be the realtor they turn to if you’ve followed up and nurtured the relationship in the right way.
Best ways to nurture the relationship with a renter?
Note when their lease is due to expire and follow up accordingly. See if they have any plans of buying in the future. You can automate this process by including them in your email drip campaign.
2. You Are Not Active on Social Media
Nearly 90% of all real estate searches begins online. As a local Real Estate Professional, you need to make sure you appear on as many online touch points as possible. Social media is the flag bearer of the online marketing touch points. If you are a realtor and are not active on social media, you’re stunting the growth of your business.
You should start by creating a Facebook and Twitter page for your business. Do not use your personal Facebook profile when using social media to promote your business. Instead keep your personal page separate from your business page.
Some Best Practices to Remember:
- Make sure your branding is consistent across all your social media platforms.
- REPLAY BACK TO ALL COMMENTS. If you respond to people in due time, Facebook will show a special badge mentioning the average time your page takes to respond to an inquiry. This “response time” can be the difference between generating and losing a potential lead.
- On Twitter, make sure you are responsive to longer inquiries, and most importantly, keep it professional!
3. Forgetting that Real Estate Is A Face-To-Face Business
Real estate is a face-to-face business. The majority of your marketing efforts need to be focused on in-person, relationship building marketing efforts that enable you to build trust and rapport with prospective clients.
The way you convert leads into sales is by meeting them face-to-face. Without face-to-face interaction, you won’t be able to convert leads into clients.
The Parkbench system is entirely geared towards building these real world relationships and helping you generate leads and referrals through face-to-face marketing strategies. As mentioned in (link to Parkbench vs. Lead Gen Article) focusing your marketing strategy on a predominantly face-to-face approach is more effective and cost friendly.
4. You are Not Networking Properly
First and foremost, you have to put yourself out there. You have to be willing to make yourself uncomfortable if you want to build your business. If you don’t put yourself out there, you will just be another real estate statistic and sad story of someone who never made it.
Networking is something you should be doing both online and offline. If you don’t already have an overflowing database of clients, you need to network by hitting the pavement. You can do this through various networking events in your neighborhood, town, or city. Or even better, the Parkbench platform which provides you a system, along with the proper tools and resources to build your network.
5. You Are Not Meeting Your Potential Customer’s Expectations
What do successful realtors do? Not they don’t just meet their customers’ expectations, they exceed them.
With the Parkbench platform, we help realtors go above and beyond in their communities so they can exceed their customer’s expectations with every working relationship they create. This is done by imparting realtors with the proper tools and resources to become local leaders and connectors in their local communities.
A major part of this system is helping realtors deepen their knowledge of that community, through a wide array of areas such as neighborhood demographics, housing prices, all the way to best places to shop and eat. This gives the Parkbench realtors everything they need to exceed their client’s expectations!
6. You Are Not Maintaining And Updating Your CRM
The number one reason why you’re missing out on leads is because you’re not continuously updating your CRM software. I know it’s tedious, but it’s how you stay organized and on top of all your clients. If you aren’t already active on your CRM software, you should start migrating your existing contacts today.
Some of the most popular CRM’s are:
Once you’ve decided on the right software to use, make sure your entire team is using the same software to stay organized. If you work on your own, then make sure your software is integrated with your daily workflow.
An updated, well-structured CRM software will allow you to browse through potential leads that can be converted into customers, instead of losing them at the bottom of a chaotic Excel spreadsheet.
Leads are the money makers for Real Estate Professionals. And hopefully, now you won’t lose nearly as many leads or nearly as much money by making easily correctable mistakes!