When asked, realtors’ top-of-mind response to their biggest business problem is that they want quality leads. I get to talk to a lot of realtors, providing great real estate web design and real estate strategies to help grow their business.
And essentially what happens, is they spend a couple of bucks here and there on marketing, maybe do some social posts only to eventually capture some leads. Then once they capture these leads and talk to them, they quickly realize that “they’re not quality leads”.
This whole experience ends up becoming a huge waste of time and/or money and you end up feeling stuck in the business because they can’t get ‘quality leads’.
Shifting your belief about ‘quality leads’ will give you a new lens to view the leads that you capture, and lastly give you a little framework to follow so you can get quality leads.
There is no such thing as a quality lead. A lead for all intents and purposes simply means an unqualified contact. Fundamentally this means that it is not possible to get a quality lead because you have not qualified the lead to truly understand if this is a quality person to work with.
So the term ‘quality lead’, please erase it from your vocabulary because this isn’t the way you should be thinking. You cannot predict a quality lead unless you can read minds. Instead, what you need are qualified prospects.
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A prospect is a qualified contact, or in this case a quality contact. The play here isn’t to look for a unicorn called quality leads because they don’t exist, instead, we need to qualify leads and turn them into qualified prospects.
Using this context in another facet of the real estate industry, qualifying prospects is like prequalifying a client for a loan.
Now, lenders talk to leads all the time but in order for them to fund a loan, they essentially need to gather information from this person, review the information, and then based on that, they can let this person know how much of a loan they can be approved for or if they can even be approved for a loan.
This exact same methodology applies to real estate leads. You would essentially need to capture a bunch of leads, prequalify those leads and the ones that turn into prospects are the ones that you should be working with.
Qualifying Real Estate Leads
Now to answer this, you need to understand the psychology of a lead and where they are in the purchase process. You also need to know that you need to start training your leads because you don’t get quality leads right off the bat but you can create quality clients by teaching them.
The solution to this problem really just boils down to something super simple, it’s the message you deliver based on where in the purchase process this lead is. Capturing leads is actually quite easy because they all share 1 thing in common, they are all ‘problem aware’.
You simply need to create marketing and content that positions you as the potential solution to their problem. If you’ve done your job right, you will have captured a lead.
Once you’ve captured the lead and they’re in your “world” which is our fancy way of saying your database, you would want to qualify them. In this particular case, you’re going to send out a different type of message because they are now ‘solution aware’.
This message is all about the product or service that you’re providing as a solution. And if you did your job right, this lead would have raised their hand and said, hey, I want to learn more. And from there, they are now product aware, and then the only job that remains is to build trust.
And through this process, you will create a quality client.
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Understand that you can’t find quality leads, you need to turn leads into qualified prospects. Based on where this lead is in their purchasing process, they are either problem aware, solution aware, or product and service aware, and your job is to create a quality client. A client that is ready to move to the next step.
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