Generating leads vs. Losing less business.
(Another) holiday real estate marketing blog post by our
VP of Marketing and Sales Tawd Frensley
The question: Is an Internet lead better than a past client?
The answer: Nope.
Internet leads can be broken down by the following:
1) They are curious enough to enter their contact info
2) They are bored at work (or home)
3) They lost relationship with their real estate agent
4) Or the ever-common, the “Routine Tire Kicker”
We are not saying Internet leads are bad. In fact, they can be a wonderful supplement to your yearly transaction total. However, we put emphasis on the word “supplement”.
Focusing solely on Internet leads means past clients become neglected.
Here is why: It takes roughly 2 weeks to develop a proper relationship with one Internet lead. Now, multiply that by the amount of leads you are purchasing (or receiving) and you will see how much of your time is dedicated to new contacts.
“But, wait! I email my past clients all the time!”- Real Estate agent response that we often hear.
Yes you do. However, emailing your leads, contents, and past clients the same content year after year becomes ineffective. People open 10% of the emails they receive which gives you a 90% chance of being ignored. This continues month after month until a past client becomes #3 from above.
As soon as one of your past clients become #3, they will begin their transition into an Internet lead. It’s safe to say that we all get bored. Some of your past clients may find themselves bored at work or home searching for homes on the market. See, #2 just happened.
Since they have not been directed to your website in some time, they forgot about your domain name! Never be forgotten.
They forgot that your website provides MLS searchs. So what happens? They end up on Zillow, Trulia, Realtor. com or Redfin (out of sheer convenience).
Next comes the curiosity.
They either saw a house they would like to live in or they realized that they can profit from selling their home. Once #1 happens, another agent will be sold the Internet lead and they will spend the next 2 weeks trying to build a relationship with your past client, when all this past client wanted to do was to kick a few tires, and browse the Internet, while drinking hot chocolate.
There are a finite number of buyers and sellers in your area. Your database is a percentage of that number. Hold on to them.
It’s the relationships you nurture that keep your past clients from becoming Internet leads.
Have questions? Agree? Disagree? Comment here, or write or call us. We’re here to talk.
We hope you are having a festive, safe, relaxing holiday season,
PropertyMinder’s Community Manager