A Better Way to Convert Internet Leads

Meeting Consumers Earlier in the Process Means You Need to Adjust Your Approach

By Jim Zirbes

Arizona REALTOR® Magazine - May 2010

The Internet-empowered consumer demands immediate information, and the real estate industry’s race to get to the consumer first means we are “meeting” the customer earlier in the buying process than ever before. Working with Web leads can be a challenge—but it is also a great opportunity! You just need to know how to engage with these consumers at the earlier stages.

In handling leads that come from your online activities (including your website, your brokerage’s site, blogging, social media or third-party websites, such as a lender or paid provider), there are three core truths to keep in mind:

1. While there are some distinctions between leads generated from various online sources, they’re more similar than different.
   
   
2. There are “inquiries,” and then there are “leads”. An inquiry is someone who makes a one-time contact (be it by text, email or phone call) who wants answers to one or two questions. A lead is someone who has the DNA—Desire, Need and Ability—to move forward. Hopefully with you as their agent!
   
   
3. Not all leads are created equal. There are “good” ones and “weak” ones in the virtual world just as there are in the bricks-and-mortar world.

Seasoned agents often have a difficult time working Internet leads because they use the old “tell ‘em & sell ‘em” approach. However, if we try to use that approach before the consumer is ready, we just drive them away!

One of the keys to Internet lead conversion, much more so than from other sources (i.e. sign calls), is to remember to have a conversation, not an interrogation. This is especially true on the first contact and in other early conversations. If we go right for the closing (or even push a showing or in-person meet-up), these consumers will often pull back.

Take this traditional approach to handling an initial inquiry:

Agent: “Hello, this is the real estate agent. How can I help you?”
Consumer: “Yeah, I’d like to know if this house is still for sale that I found on this website of yours.”
Agent: “Sure, I can find out for you. Have you been pre-approved for a mortgage yet?”
Consumer: “No, not yet.”
Agent: “Well, that is an important first step. I can get you the name of a loan officer friend of mine who can help you.”
Consumer: “I really just want the information on the home.”
Agent: “Well, I am driving right now on my way to an appointment. I have a very full day of working with clients. I will be back in the office in a few hours. I could look up the property then and call you back.”
Consumer: “I really just have a simple question. Are you the listing agent?”
Agent: “No, but I can find the information just as easily and help you buy that one.”
Consumer: “OK, sure. Call me back at _____.”

Two hours later, the consumer does not answer the agent’s call, so the agent leaves a message. Two days later, the agent follows up again, and the consumer does not answer or return that call either. And so this lead becomes a dead end.

The agent’s conclusion might (understandably) be: What a waste of my time! These Internet leads are all but worthless! I need some real and serious buyers, not these flakes. But was it the caller? Or was it the agent’s approach and “go for the sale now” mindset?

Instead of trying to go right for the “qualification,” try these three steps instead:

1. Listen to what the consumer is asking for—and deliver. They just want someone who will provide the information quickly. Ultimately, though, they prefer it from someone they like and trust, which brings us to step two.

2 . Look for common ground. Try to identify with the consumer. What do you have in common? Use a friendly approach to find out more about them. Here’s an example:

Agent: “While I get you those listing details you asked about, may I say I think I hear some little ones in the background?”
Consumer: “Yes, it will be naptime soon.”
Agent: “That’s great. How many children do you have?”
Consumer: “Three.”
Agent: “Three, wow. I’ll bet they keep you busy! What are their ages?”
Consumer: “Three, five and seven.”
Agent: “So they’ll be getting ready to go school soon, huh?”
Consumer: “Yes, and there are days I feel like I can’t wait.”
Agent: “I totally understand. I have a few children myself, and as much as I love them, I do look forward to school starting again. Are area schools important to you?”

3. Take the pressure off. Tell the consumer you understand that they’re in an information-gathering mode. Let them know that when they’re ready to move forward, you could help them by assessing their needs and providing information tailored for them.

Don’t use the old, tired approach that comes across as pushy. They don’t even know you—yet! Remember, people don’t care how much you know until they know how much you care.

Jim has been a REALTOR® in Arizona since 1991. Today as a licensed broker and educator, he specializes in training agents to new levels of success, including through QTScoaching.com. He can be reached via his website, JimZirbes.com.

 
Comments are moderated and will not appear until the administrator reviews them. Comments Policy