Generating leads is only the first step - it’s what you do with them that counts!
Lead generation is super important, particularly in more challenging markets when attracting new clients to your business is getting harder. With fewer sellers coming to the market, each instruction is vital, and the competition between agents has never been stronger.
So, what do you do? We know that the more valuations you can do, the higher the instructions will be, so you start to look for ideas to help you fill your valuation diary.
Could you offer a fee deal, reducing your costs to try and entice a seller to use your agency? Or start to include some fancy marketing tools as an additional USP. You may even look at what your competitors are doing that seems to be working and try to offer the same thing.
Leaflets? Prospecting letters? Digital window displays grab the attention of people walking past. There are many ways to generate leads, but some are more cost-effective than others.
Read more: The best thing that you can do for your estate agency business in a slower market.
A simple and cost-effective option is an online valuation tool. A homeowner can instantly obtain a property valuation without calling your office or speaking to anyone.
But many agents have tried this before and find that the leads are pointless or a waste of time. They immediately call the homeowner, but those calls usually go unanswered.
So, what is the point of gathering this information and providing an online valuation?
They are not ready to speak to you yet. Otherwise, they would've called you, wouldn't they?
Whilst this homeowner is not yet committed to instructing you to sell their home, they have just given you their information and a little heads up that they are considering selling soon.
This information is invaluable!
“The information gathered by your online valuation tool is invaluable!”
Now they're in your system, they can be nurtured through the journey to putting their property on the market. This is your opportunity to show them you are the experts by sharing useful information to help them along their journey. How impressed will they be by your firm if they are sent valuable tips on the market or selling their property?
When the time comes that they are ready to sell, your agency will be the obvious choice.
And the best part is you have not had to reduce your fees to gain this client or to build trust and rapport. You have simply had to offer them an instant valuation and then wait, right?
Wrong!
The key to lead generation is not actually the generation of the lead itself. It's what you do with that lead next.
It is possible to put the information into a call-back diary system. Perhaps you run a spreadsheet or a physical drop-down filing system (we used to call them 1-31 files back in the day). Maybe you have a process for all potential leads to have a monthly phone call to check in and see how they're getting on. This will work for a while, but it depends entirely on the team. What if you forget to schedule the next call for someone? Or, the person who makes those calls go on holiday and they get missed? Will they be lost forever now? Even the most diligent of offices can't keep up.
But let's also consider the change in buyer psychology over recent years. Most people are comfortable using an online process to book almost everything without making a phone call. Given the option, most individuals will choose an automated digital option rather than actually calling someone if they could. When you go to a fast food restaurant, do you order at the counter or simply use the self-service option? At supermarkets? At the coffee shop? At the cinema? We don't need to speak to another human being to complete many different actions within our day-to-day lives. We're even comfortable enough to handle our finances over the internet.
Our personal phones don't ring anymore. And if they do, we most likely don't answer it. And if they leave a voicemail, we will most likely not listen to that. Why? Because if it is important, they'll follow up with an email! So, you will probably find a call-back diary falling on its face.
What should you do instead with these valuable leads? You could create a follow-up system to keep in touch by email, and there is software that can do this for you!!!
Input email responses and have them scheduled to automatically send out to potential future sellers who are toying with the idea of moving at some point. Sending them regular emails with helpful information will ensure that they regularly receive content from you, keeping your business top of mind and ready for when they are prepared to make that move.
This is a slow process, though. If a seller calls you today, the chances are they've been considering a move for up to a year. The beauty of this situation is that the seller's chances of contacting you and your agency are hugely increased if you've already been emailing them regularly for months.
Wouldn't it be comforting to be able to see that you are nurturing sellers for a year from now?
I know that when I was an agent, I would've felt a lot more confident about the future of my business if I could see that I was nurturing future business.
It doesn't matter how awesome your sales pitch is or how good your team is at converting enquiries to clients if they never get to speak to the leads. Your online presence and email campaigns must do the sales pitch for you.
So, how do you nurture a seller from thinking about moving to actually arranging the valuation appointment?
You need a nurture journey! Get in touch to find out how you can build a nurture journey that is tailored and bespoke for your agency to encourage sellers from the point of online valuation to actual instruction!
