In the midst of a global pandemic where interest rates are historically low and demand is historically high, it’s more crucial than ever to master the art of cultivating online leads. Where do you start and how do you ensure these leads are converting?
Yesterday, we discussed the learnings of three top players in the real estate market from around the country: Real Estate Writer & Coach Chris Linsell from Traverse City, Michigan, Realtor Tanya Hawkins from O’Fallon, Illinois, and Realtor Michael Bardales from Oakland, California. Read on as Radius Agent Content & Social Media Manager Jaclyn Gioiosa recaps the second iteration in our #TuesdayTalks series, “The Blueprint to Online Leads & Conversions,” moderated by Radius Agent’s very own Co-Founder & COO, Sanya Gurnani.
Despite the varied experience of these three experts, Chris, Tanya, and Michael agree on one key facet of online lead conversions: leads will not convert if the relationship between buyer and seller is not nurtured. Could it be true? Could human relationships be the silver bullet of online lead conversion?
Our experts say yes, and research proves it. While converting online leads at a high rate unmistakably requires top-notch, organized outreach, instantaneous follow-up, and a network of staff support, the transactions that comprise the real estate industry are propelled by quality relationships.
In fact, The National Association of REALTORS reports that a whopping 72% of people selling their homes chose their Realtor based on some sort of personal connection.
Many Realtors grapple with the notion of purchasing online leads via ads, Zillow, Trulia, or other sources because it feels transactional and impersonal. With this assumption in mind, isn’t it contradictory to advise agents to purchase leads? The answer is no.
Chris Linsell explains this correlation by sharing his knowledge of real estate farming strategies. Agents looking to accelerate their online lead conversation can emulate the strategies of agents who successfully “farm” neighborhoods by positioning themselves as local, go-to resources for all things real estate. In this vein, to enhance the conversion rate of your online leads, you must tailor your messaging and subsequent follow-up in the same way that real estate farmers thoughtfully and consistently address the needs of neighborhood buyers in the farm or concentrated geographic area.
The fact of the matter is that real estate is a “relationship business” just as much as it is a “house business.” Take it from Michael Bardales, who swears by starting his calls “with a conversation, not a questionnaire.”
Still need convincing that online leads could work for you? Our moderator asked each panelist to provide one piece of advice for those not yet taking advantage of online leads:
Chris Linsell asks the hard-hitting question: Is real estate your career or your hobby? If real estate is your career, it’s time to level up by doing the math: the cost for online leads is a small price to pay when you look at the ROI you can pocket with consistent and thoughtful follow-up.
Michael Bardales calls on listeners (and readers) to liken online leads to fishing. A good fisherman doesn’t sail out with a single fishing pole or piece of bait, does he? Along these lines, you too must diversify the sources of your leads by “fishing” in different locations. Need more convincing? We live in a country with 50 states. By engaging with online leads, you have the potential to not only expand your influence and bolster your reputation, but also to serve customers nationwide.
Tanya challenges you to consider the power in the referral domino effect. It’s all about relationships. When you treat people like people, you open the door to new networks full of buyers you just haven’t met yet.
To close, we leave you with the answer to a tough question: When is the time to bring on external help in an industry where an instantaneous response to online leads isn’t just recommended but expected? The answer is simple: When your business has grown to the point where you don’t have enough hours in a day to thoughtfully follow-up with your leads, it’s time to expand. The ROI will make it worth your while.
Do you have more leads than you can handle? Remember that Radius Agent’s team of U.S. based ISA agents is ready to call, qualify, and set appointments with leads on your behalf. Set-up a Radius Assist demo here.