Lead Management is one of the systems we coach that are the basis of every successful career in Real Estate. Specifically Lead Management is the system that holds the greatest potential to immediately & dramatically increase your results.
Regardless of your style, your strengths, your market or anything else all highly successful Agents must generate enough leads to achieve their goals. Once these leads are generated, every agent (you included) must make contact with these leads. As you contact these leads by phone, e-mail or in person, you must have the scripts, the skills & approach to convert these leads to appointments, then to saleable listings or motivated, urgent buyers. Finally, every highly successful agent must have a system for retaining and prompting yourself to stay in touch with the leads that do not convert immediately. These four elements comprise the four elements of a successful lead Management System. In summary they are: lead conversion squared review
- Your ability to generate leads
- Your habit and discipline at contacting the leads you generate
- Your skill at qualifying and converting the leads into quality appointments
- Your system for retaining contact with the leads for as long as you choose
The Losing Routine of the Majority
Most Agents record and call some of the leads that come at them. They may follow up and retain some or most of those leads, some or most of the time. What I am saying here is that a lot of the leads that are generated may not be contacted at all or not followed up on after an initial contact. One of the many benefits of coaching is motivating more conscientious lead follow up that result in more business with a very modest additional effort. This is very limiting and detrimental to your business because it is when you are the busiest that you have the most leads coming to you. That is the exact time Agents are most careless with their leads. Then, when the market slows down many of the leads, if they had been followed up are lost or left dormant for too long to be valuable. This creates the highs and lows that make many Agents feel insecure about their Real Estate careers. This losing routine is unnecessary. Strength at all four elements of your Lead Management System eliminates this losing routine and replaces it with an endless stream of leads that evolve into salable listings and motivated buyers. Here’s how to strengthen each of the elements. Look for our articles on each of these systems.
Most Agents generate enough leads to increase their production by fifty to a hundred percent. We have many coaching clients that prove this as fact. Most of our clients increase their production by these margins in the first six months of our work with them simply by improving their lead management habits, skills, and systems. For those Agents who want to increase their number of leads the fastest and easiest ways are through ad calls, sign calls, web leads and open houses. These sources generate mostly buyers. To generate listing leads the absolute best source is an Agents networking and personal marketing. We work extensively with our clients on creating strongly branded and consistent marketing. This is simple and extremely effective. Put an hour a day in your calendar at least three days a week to contact the leads that already come your way. Use this same time to organize your lead retention system described below. So, no lead gets lost just slipping through the cracks of carelessness. Understand this first. Lead conversion means getting an appointment to sit down with the buyer or seller for a presentation in which, if you want to work with them, they engage you as their Agent; converting the lead into an appointment. This is the one part of your Lead Management system that requires you to learn specific language and skill. This is your contact management system. It has two parts. One is your database in alphabetical order of all your leads. The other is your method of prompting you to make the next call to each particular lead. Watch for other articles on each of these elements of your Lead Management System. In addition watch for articles on how to create and present those buyer and seller presentations that are the goal of your Lead Conversion