Have you ever wondered how big real estate companies get a lot of clients? How they turn a simple coffee table talk to a closed deal and a client for real? This is what we call real estate lead nurturing.
Lead nurturing is the process in which relationships with buyers are developed at each stage of the sales funnel and through every step of the buyer's journey. The main objective of this strategy is to focus on marketing and communication efforts on listening to the needs of your prospects, and providing the information and answers they need.
As we dig deeper into this topic, we will learn that it takes more than just talking with, listening to, and answering our prospects' queries. We also need to put into account the technical side of this strategic process.
Let’s start off by identifying and classifying our leads. There are three types of leads: cold, warm, and hot leads.
A cold lead is a potential customer who may or may not know your company, a prospect. They may also not be interested in your product for the moment but can be when engaged properly.
Some may also come from clicking on your online advertisements or a boosted Facebook page post. While some are from online searches that happened to stumble upon your site.
A warm lead is someone who shows interest in and may have inquired about the products or services you offer. They may have been following your company for a while on social media, referred by a friend who was a previous company client, signed up to your email newsletter.
Hot leads are those who show a clear need for a product or service. They are those are highly interested in your product and need it, have a budget and probably are ready to buy. Hot leads tend to be closest to the buying stage of the sales cycle.
Real Estate Lead Nurturing Strategies
1. Establish a Referral System
Referrals create a huge opportunity for new businesses. It is important for real estate agents to create a network and stay connected with people who are potential clients. The best thing about this is that it costs you nothing. Probably, a simple dinner if you’re feeling generous.
2. Optimize the Use of Social Media
With the rest of the world going digital, optimizing the use of social media will give you a competitive advantage. Lots of people are hooked into various social media platforms and there is always that chance of someone seeing your ads and clicking on it. This is now considered a cold lead and if engaged well, may become a potential client.
3. Develop a Video Marketing Strategy
Images of your products may no longer suffice the questions your leads may have. It is better for them to see what they want or supposedly want at first glance. Videos tend to gain more reaction than just plain texts and images. It’s like taking a tour but in the comfort of your home. And be sure to include aerial views for your audience to get a perspective of the area landscape. The more they see, the more they want to check it out in person.
4. Create Constant Communication with Engaged Leads
The very most important factor in the success of your business is your leads that would make potential clients. Getting in constant touch with your leads creates opportunities for your business.
However, it’s better to prepare a couple of general pitches and sales script so that all efforts made will not go to waste.
Mastering these strategies and learning your scripts by heart will mean all the difference in real estate lead nurturing. Knowing how to take care of the people in your network will only create advantages for your company in many ways possible.