In any sales database, there is a variety of types of prospects, most essentially new leads — people who have recently expressed interest and need to be developed into prospects — and the existing sphere of past clients who are a valuable source of referrals and potential repeat business. For real estate agents, knowing how to categorize a database and build action plans to reach these two groups of consumers is often a career-making skill.

Throughout an agent’s career, the percentage of transactions that will come from their existing database compared to new inquiries will likely shift over time. As new agents build their network, they might buy leads. Over time as their career expands, they will probably spend more time developing the strength of their network of past clients. It is essential for an agent to know where the bulk of their business comes from and allocate marketing and advertising dollars appropriately. Both new leads and sphere contacts need regular and consistent outreach and marketing, but the strategy differs.

Marketing To Leads

Leads are people who have self-selected to learn more about either a specific property or about buying in general. Turning a lead into a sale can often take both time and patience. Some companies distribute the same lead to multiple agents, or a consumer looking at many different properties may fill out multiple forms. This can create a situation in which a prospect is bombarded in the short term with agent interest.

However, leads can often take months to be truly ready to transact. Putting a lead on a consistent long-term contact campaign can bring good results for patient agents. For this group, agents may want to target them with ads related to the listing they may have expressed interest in. Another option is to target these potential homebuyers with ads that lead to landing pages to download a homebuyer’s guide. Dividing leads by zip code provides an opportunity to direct them toward neighborhood pages.

Marketing To Your Sphere 

For established agents, their sphere — a mix of past clients, friends, acquaintances and business connections — will often make up the bulk of their business. Staying in touch with this group can be a challenge. While most customers express a high level of satisfaction with their transaction, because of the long time between sales, the same agent is not always used again when it is time to make the move. Recent data from the National Association of Realtors showed that only 23% of all sellers returned to an agent they had previously used to buy or sell a home.

No agent wants to go through the heartbreak of finding out that someone in their sphere has gone with another agent. Often in these cases, this can be chalked up to the fact that another agent was top of mind when the client was ready to sell. While regular contact is essential to make sure this does not happen, advertising can fill in the gaps between conversations.

One effective technique for this crucial group is to make sure you advertise the most recent sold properties to them, especially if the property is in their neighborhood. Tracking who is clicking on or responding to ads also helps identify super-fans. Within every agent’s sphere, there will be more engaged past clients who, even if they are not currently looking to buy or sell, are enthusiastic supporters of the agent. These special customers should receive additional contact and care. According to NAR, the most popular way home sellers find their agent is through a referral from a family or a friend. The typical seller recommends their agent twice after selling their home, but one-third of sellers recommend their agent three times. A well-connected super-fan can be extremely valuable.

For successful agents, consistent marketing can ensure that leads are appropriately nurtured for their maximum potential, and existing contacts feel connected to the agent and aware of the current market. When it comes time to transact, this can make all the difference.

Let’s block ads! (Why?)


Source link

Load More By 
Load More In Marketing

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Holiday gift guide 2018: Here are the best gift ideas for iPhone & iPad owners

  Looking for the best gift for the iPhone or iPad owner on your shopping list? We…