As a real estate agent, you most likely rely on a few good leads to conduct business because those are the ones who are truly interested in purchasing a home. When it comes to understanding the difference between a good and bad lead, there are a few things to understand: primarily that there are few truly “bad” leads. All it takes is a little patience and communication to turn a “bad” lead into a good lead.
It’s Not Really a “Bad” Lead
One of the biggest issues a real estate agent runs into is that the leads that they receive are not actually ready to purchase a home and are just browsing or who are filling out the lead form on just to get information on the home.
It can be difficult to work with leads that are not serious, but taking the time and making the effort to change the not-so-serious leads to serious leads can be well worth the time. By working with those leads who are, for the moment, just browsing, you have the opportunity to nurture those leads and help them get ready to buy a home.
Changing a Bad Lead to a Good Lead
When a lead comes in from someone who is not ready to purchase their home, this is your opportunity to change that lead from a bad lead to a good lead. This means that you have to work to nurture that lead from someone who is unsure or unprepared to buy a home to someone who is.
By nurturing your “bad” lead, you are able to show your dedication to someone who may be your next client. Use this time to educate them with the tools they need to begin the process of purchasing a home. When they are ready, they will then have a real estate agent in mind to use when purchasing their new home.
When you first receive a lead from someone who is not quite ready to purchase a home, you have the opportunity to create a relationship with a new client and coach them at the same time. You can begin by working with them to make sure they are financially ready to purchase their new home. Usually, this would require that the person or people have good credit and enough money for a down payment and closing costs. As a real estate agent, you will be the best person to assist the future homebuyers purchase their new home. This may take some time, but you can establish yourself as that person as they begin the process.
Once your client is financially and emotionally ready to look for homes, be there to guide them as they look at different homes. Seek out the homes that have their requirements and meet their budget.
Hopefully after reading this blog, you feel that you are ready to begin nurturing those bad leads and working with those prospects to turn them into new leads. Your clients may need some extra help; check out the Homes.com How to Sell Your Home E-Guide here. With plenty of tips, this is be a great tool for nurturing those leads who aren’t quite ready to purchase a home.