Seller lead generation can be a powerful strategy to build your listing inventory.
You don’t need to be a genius to convert these leads effectively, but you do need a strategy.
To make that strategy work effectively, you must attract your seller leads, nurture them and then convert them consistently.
Need help converting seller leads while you grow your listing portfolio?
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As with all strategies, you’ll get good results if you do the work.
Much like getting fit, you could have Arnold Schwarzenegger as your trainer, but if you don’t lift weights and eat the right goods, you’re not going to get good results.
Now, you don’t necessarily have to do these things yourself – you can hire an ISA and some administrative staff members to help you. That said, you’ll at least have to hold the people who are doing the work accountable.
Either way, you must take action.
Here’s what you need to do in order to build consistency in your seller lead conversion efforts. If you do these things regularly, you get the results you want and need in your listing business.
Attract Enough Seller Leads
Seems simple, but some people just don’t have enough leads.
It can take as many as 60 contacts to get a listing appointment and in some cases double that to get a listing sale.
This is not the norm, but it can be reality.
Knowing this, if you’re not attracting enough seller leads, you just aren’t going to be able to get enough listing appointments or take enough listings to sell a decent number of homes.
We recommend that you have a good source for expired, withdrawn and FSBO leads. In addition to that, you should have a good source of data for circle prospect in neighborhoods. Lastly, if you’re not getting home evaluation leads as part of your strategy, you need to do that too.
The average home evaluation lead can take as many 6 to 8 months to become a “now” lead, so make sure you don’t give up on that prospect too early.
For that matter, don’t give up on any seller lead too early.
One last thing, make sure you have a good past client and sphere strategy in place to add any “easier-to-close” seller leads to your approach.
It’s not enough to just have seller leads, you must contact them, too.
Follow-up every lead inquiry ASAP.
Send all leads an email and/or text to make a prompt initial contact. In these contacts, be sure to
- Remind them how you found them/they found you: People go to a lot real estate sites and make a lot of inquiries. It’s easy for you to get lost in the shuffle so to speak. Make sure you stand out by letting them know who you are and how they found you.
- Let them know what’s going to happen next: Remember, you may sell the same number of homes in a week or month that a person does in a lifetime. You’re the expert and you must demonstrate that in your contact with your seller prospects. Be sure to let sellers know what’s happening as they work their way closer to selling their home.
- Start building massive rapport: This goes without saying. NO sale happens without first building rapport. Do your best to build trust by laying out your intentions and then following through by doing what you said you would do.
Immediate follow up is essential, especially with leads you generate online.
As you probably know, you’re 21 times more likely to do business with a prospect if you get in touch with them within 5 minutes of them contacting you.
And again, if you can’t do it, automate it or have another person in your organization do it.
Call, call, call.
At this point, you must pick up the phone – or someone must pick up the phone – and make initial contact.
An email or a text is like a resume for a job: it can help you in getting you in the door, but it’s not going to get you the job…you must interview to get the job.
That’s where phone calls come in.
You must call regularly to build a relationship with seller prospects and stay in touch with them in order to be the last agent standing when they are ready to “pull the trigger”.
This part of the process is where most agents let the process die.
They’re either too busy, too disorganized or they have call reluctance.
No matter what the challenge is…it must be overcome. Initial contacts and consistent follow up must occur if you are going to have success in converting seller leads to listings.
The one..two (and even three) punch.
First-call closes for an appointment are tough…really tough.
That’s part of the reason that we, as real estate agents, get paid so handsomely for the job we do.
The good new is this: even though that first phone call is important: it doesn’t need to be relied upon to secure the listing.
- Many leads that come in to you online (and even those that you secure through prospecting) are as many as 3 months away from taking action. Some are even further away.
- Ups and downs: Life happens. Even prospects with the best intentions have life events that can suddenly change their own strategy for selling their home. Be flexible and continue to build your relationship with them as they hone in on a solid target date for themselves.
- Calls, emails and texts must continue until an appointment is set: Use the force multiplier effect and stay in contact with your seller prospects in as many ways as possible so you have every chance possible for them to see you are committed to helping them with their sale.
Remember, almost 80% of people will work with the first agent with whom they speak.
Be there first.
Be there often.
That way you get the best chance at securing your seller-prospect’s business.
Consistency is the name of the game
At the end of the day, you’re looking to earn your prospect’s trust so that it’s a no brainer for that person to want you to come to list and sell their home.
Consistency is key in getting people to trust you enough so you can influence them
In fact, it’s one of Robert Cialdini’s 6 principles of influence from his book: Influence the Principles of Persuasion.
In it, he talks about the principle of commitment and consistency.
By showing up regularly with a variety of contact approaches consistently, your seller prospect knows that they can rely on you to do what you say you’re going to do.
So many agents start calling and/or contacting their list of prospects and fall off.
It’s hard to trust someone who shows up, but doesn’t continue showing up because it shows a lack of commitment.
This is a bad thing when you’re trying persuade someone to trust you with selling their biggest asset.
Say what you’re going to do…do what you say you’ll do.
When you do, you’ll be the agent of choice for your listing prospects.
None of what we’ve shared here is a requirement to work at NASA.
It’s just good, sound advice backed by proven principles.
Take the time to lay out your contact strategy and then employ it at the highest level with professionalism, commitment and consistency.
By doing this, you’ll demonstrate to seller prospects that you are head and shoulders above your competition and the best agent for the job of getting their home sold.
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