How to Determine Your Advertising Needs

Many successful agents reach a point in their careers where they need more sophisticated marketing and advertising strategies. Though many brokerages offer this kind of support, top agents often outgrow typical offerings and want to take brand marketing into their own hands. If this is where you find yourself, or you just want to stand out from your competition, you may want to consider tailoring your relationship with your in-house department or using an outside marketing firm that can offer you something different.

In this blog you’ll learn the pros and cons of working with in-house personnel vs. outside firms and how to determine what you really need from your marketing campaigns.

If you’re part of the TL:DR crowd, then start your seven-day free trial of AgentEDU and watch the full “Using In-House Vs. An Outside Ad Agency” course.

 

Cost

For many agents, the cost of working with a professional agency is the most important consideration in deciding who will handle marketing and advertising efforts. While you investigate whether or not your brokerage can do the job for you, consider these questions.

Can you get discounts for media placement? If your brokerage already has an advertising contract with a particular media outlet, you may be able to benefit from their frequency discount. Many media outlets offer lower rates on advertising space based on the number of placements purchased. If your brokerage secures a substantial media buy, and in return offers you discounted pricing for the space, you may see a significant savings when compared to buying media placement on your own or through an outside agency.

Does your brokerage offer opportunities to include your listing in ads that advertise multiple listings? What does it cost to be included? This opportunity may give you access to media space you couldn’t afford to purchase on your own.

Do the research, because there may be considerable cost advantages to using brokerage resources. When you work with your in-house marketing department, you may be offered different payment options. You may pay for time, per project or creative services may be a free perk for top producers. It’s up to you to negotiate your own marketing package. You can compare the services offered in-house to those of an outside agency. However, keep in mind that most brokerages are less inclined to help you build a significant brand outside of the brokerage. You’ll need an outside agent if you want to secure a higher level of attention to your own brand.

 

Available resources

Let’s talk about the resources available to you. You’ll have to know what your options are before you can plan. Is there a skilled in-house marketing department that can provide the creative services you need? Is there a strategist on the team? Is there a graphic designer who will execute your direction? Are there professional copywriters?

Building effective ad campaigns and branded marketing is a highly creative pursuit, and quality may be subjective. As most agents have real estate expertise but are not trained creative artists, there may be a tendency to underestimate the value of quality design and to misunderstand how messaging can help or hurt marketing efforts. While agents may not recognize low-quality design or copy, many consumers do see the difference. Once you get a feel for it, you will see why some brands outperform other brands even when the actual products are very similar. It may seem too costly to hire professionals, but it will cost you even more to spend your ad budgets on ineffective designs and messaging.

The qualifications of the people you hire to execute this creative work can vary greatly. When reviewing candidates, look for artful attention to detail and an understanding of how to connect with audiences. Seek out creative people who know the principles of design, messaging, effective calls to action and brand standards. Ask for portfolios and past work and have them explain their process to you to see if you’ll work well together.

As in the real estate business, you may find your best candidates through referrals. Ask your colleagues if they have recommendations for marketing professionals or teams. Interview several candidates and get a feel for who would be a good fit. These people will be a part of your extended team, helping you identify your vision and meet your goals.

Don’t be intimidated. Some very good ad agencies are small shops while others are huge companies. If you are unsure if a particular agency is appropriate for the budget you have in mind, just ask.

To learn more about how to determine the marketing needs of your real estate business, as well as how to develop an advertising campaign that works, begin your seven-day free trial of AgentEDU today and start with our eight-course advertising track.

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3 Ways to Use Open Houses to Build Your Business

Although many home sellers consider the open house a standard practice, stats show that open houses don’t often generate an actual sale. Still, many agents find open houses offer a way to get new clients, deepen their engagement in the neighborhood, and satisfy the seller’s expectations. In this blog, you will learn three ways you can use open houses to build your business.

The fact is, almost everyone who comes into an open house is a potential homebuyer. Many are looking to buy a home and may not have an agent yet. And even if they are not in the market, they may know someone who is. Maybe they plan to buy sometime in the future. This is your chance to show them that you know the neighborhood well, understand area pricing and are easy to work with. Demonstrate your leadership and marketing skills and show that you are sympathetic to the challenges of buying a home. Don’t squander any opportunity to make what could be a life-long connection with every person who walks through the door.

If you’re part of the TL:DR crowd then start your seven-day free trial of AgentEDU and watch the full “How to generate leads with open houses” course.

 

Market your open house to a large audience

Get your name and brand out there! The first step is thinking about how to market your open house to a wider group. There are many ways to get the word out about an open house, and you should explore them all. Employ the most appropriate methods for each home’s particular circumstances. For a big impact, send two waves of direct mail postcards and emails: both before and after the open house. Send out the first email as an invitation. Let them know how to schedule a private appointment with you if they can’t make the open house. Then, position your brand in front of leads in the neighborhood who didn’t attend the open house by sending a post-open house mailer. It should say something like: “In case I missed you at the open house last Sunday, I want to make sure you have this information…” Simply putting out signs the day of the open house is not enough to maximize your opportunity. Use the postcards in conjunction with signage, flyers, print ads, Facebook ads or whatever is appropriate for the market.

 

Invite neighbors to a private open house

If you think your open house will be busy, you may want to schedule a special open house where you can spend time getting to know the neighbors.  When appropriate, this kind of open house can help you grow your business and deepen your involvement in the neighborhood. Consider holding a “neighbor’s only” preview a few days before the public open house. This is a great way to get to know neighbors’ concerns, allay any fears they have, and enlist them to help you find suitable buyers. It also gets the “curious lookers” out of the way early on, allowing you to spend more time with serious buyers who attend the weekend open house.

 

Man the open houses of other agents

If you find yourself without any listings suited to open houses, you can build your business by offering to man the open houses of other agents. Open houses can be a great way for agents to jumpstart business activity. Whether you are a new agent or just want some new business, helping other agents with their open houses can give you practice with potential buyers while you learn about the local market. If you are new to an area or a specialty, manning an open house can give you the experience and confidence to move forward.

It typically works like this: An agent who is looking to gain experience lets their managing broker know that they are willing to man open houses, and the managing broker can put the word out. Some agents may choose to offer their assistance directly to experienced agents who may be too busy to man their own open houses. It’s a mutually beneficial arrangement: Experienced agents get help with the details of their open house, allowing them to concentrate on other priorities or listings. And the more junior agent gets to attach his or her name to a more experienced agent while getting real-life experience. There is often a daily stipend or a referral fee if that open house leads to a sale. Either way, it’s smart to man the open houses of agents who do a good job of marketing the homes. If there has been no marketing and the agent is just holding an open house to appease the sellers, it may be less fruitful. If this happens to you, make sure any potential buyers who attend the open house know that you’re hosting it on behalf of the seller’s agent.

 

Whether an open house is for your listing or someone else’s, when you host an open house, you get the opportunity to put yourself in front of a group of potential new clients. To learn more about how to generate leads from your open houses, start your free seven-day trial of AgentEDU and begin with the course, “How to generate leads with open houses.”

 

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4 Ways to Handle a Negative Yelp Review

Despite your best efforts, it’s possible to receive a less-than-stellar review on Yelp and other social media platforms. While about 79 percent of the reviews on Yelp receive three stars or more, every business will likely receive negative feedback at some point because it’s impossible to please 100 percent of the people you deal with 100 percent of the time. With this knowledge in mind there are ways to boost your online reputation and make sure that your Yelp profile is working for you and not against you. In this blog we’ll cover the four ways to handle a negative Yelp review.

If you’re one of those TL;DR types, then start your seven-day free trial of AgentEDU today to watch the full “Yelp For Your Real Estate Business” course.

 

Start with great customer service

Most real estate agents place an emphasis on making sure their clients feel great before they walk out the door. But in this age of social media, business owners should always treat their customers as if they were newspaper reporters. Anything you say or that your customers observe while they’re working with you can end up online.

 

Stay cool if you read a negative review

If you find yourself getting too emotional about your reviews, you may not be the best person to respond to an upset customer. Appoint a trusted admin or another agent at your brokerage to manage your online reviews. Also, if you see a negative review written by someone without a photo and no friends, it may not be worth losing sleep over. Consumers on Yelp naturally gravitate to reviewers who have established presences on Yelp.

 

Be diplomatic

When it’s time to respond to a critical reviewer, use Yelp’s free review response tools to join the conversation about your business. You can respond privately or publicly but remember to always take the high road when it comes to your customers and your reputation. If you feel like a review violates Yelp’s terms of service, you can flag it for evaluation by Yelp’s user support team.

 

Implement feedback

Online reviews can help you figure out what you’re doing well and what you can improve upon. Some business owners discuss Yelp reviews with their employees during staff meetings and implement corrective measures according to the feedback they receive.

If you work hard at customer service and promote a positive image of your business, many of the reviews you will receive will be positive. Over time, all of the positive reviews become like an online book of testimonials for your business. You can send new customers to your Yelp page so they can learn more about the great service they will receive if they choose you as their representative.

Developing your Yelp profile with positive reviews of your services is a great way to improve your referral sources online. To learn more, start your free seven-day free trial of AgentEDU and watch the full “Yelp For Your Real Estate Business” course.

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Managing Your Real Estate Team with the Tuckerman Method

You should not expect your team to function as a well-oiled machine from the start. Teams go through stages as they learn to work together, an understanding of the growth patterns of a typical team will help you implement best practices to help them achieve. “Tuckerman’s Stages” summarizes the research he did on team dynamics. This team research is a classic model of understanding. The five stages Tuckerman identified are called forming, storming, norming, performing and adjourning.

In this blog post, we’ll walk through each stage so you can recognize it in your own teams and teach as it happens.

If you’re one of those TL;DR types and are going to be leading a team in 2019, then start your seven-day free trial of AgentEDU today to watch the full “How to manage your real estate team” course to learn this skill and many more you’ll need along the way.

 

Stage 1: Forming

In the forming stage, team members are introduced, and they share information about themselves and form first impressions about each other. They learn about the project they will be working on, discuss objectives and goals and start to think about what role they will play on the team. As the team leader, this stage provides you an opportunity to be very clear about your goals and provide direction about the work the team will do. You can help the team determine roles and responsibilities and guide initial interactions and preparations.

 

Stage 2: Storming

The second stage, storming, is an unavoidable transitional stage as team members begin to work together. Team members may compete with each other and varying opinions may cause conflict within the team. The team leader’s guidance is still important in this stage – you can help your hires solve problems, stick to roles and remind them how to function independently and as a team. Your leadership in this stage can also help team members remain respectful and ensure that all voices are heard. As the team becomes more accepting of their own and recognizes the value of individual contributions, your involvement can lessen. Keep in mind that if you have younger team members or professionally immature hires, this stage can last longer.

 

Stage 3: Norming

In the norming stage, team members begin to work more effectively together. Individual goals are left behind for the good of the project. Each team member’s ideas should be heard and valued. As roles are accepted and plans are implemented, working together feels more natural. Minor conflicts can be resolved and team members seek out each other’s opinions. The work gets done and the project moves forward, without as much participation from you.

 

Stage 4: Performing

In the performing stage, teams are functioning at a very high level. The focus is on collaboration to reach the team goal. Team members trust each other. As a team leader, your goal is to help your team get to the performing stage, a key plateau for a high functioning team. Teams in this stage can make decisions together and solve conflicts easily and effectively. The team will be able to agree on changing processes if needed and won’t need to rely on the team leader for day-to-day work. As the team leader, you’ll continue to monitor productivity and team functionality, spotting breaks in the workflow if someone starts to work independently or if a new member joins the team.

 

Stage 5: Adjourning

In the adjourning stage the project goal comes to an end and the cycle gets ready to start with new goals and maybe new people. Your team members may move on to new projects together or with different team members. This stage is an opportunity for you as the team leader to evaluate the team as you move into new collaborative stages. Review lessons learned as a way to introduce new projects and contribute to organizational growth. This stage also provides an opportunity to celebrate the team’s success.

 

Managing a team comes more intuitively to some than to others. To reach your goals and avoid problems, take management seriously and understand that what you do as team leader sets the tone for productivity and success. And to learn more about how to effectively and efficiently manage your real estate team in 2019 and beyond, start your seven-day free trial of AgentEDU today and start with our Team Building track!

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The 3 Qualities Every Team Leader Must Have in Real Estate

Building a team is part of the growth and development of a business.  And as you build your team, with your vision leading the way, growing pains and operational challenges associated with managing people can be road blocks in the way of success. Chances are the initial phases of team building will mean working more and investing resources in others. So understanding how to better manage your team is a critical step.

In this blog post, we’ll cover the three key qualities necessary for team leaders to best manage personalities and ensure productivity. If you’re one of those TL;DR types, and you’re going to be leading a team in 2019, then start your seven-day free trial of AgentEDU today to watch the full “How to manage your real estate team” course.

 

Vision

To start, think about what you see as the future of your team. As a team leader, your success will come when you can run a business that fulfills your vision. Finding and leading other personalities in line with that vision will make you a successful manager. Shifting your role from agent to team leader can mean making compromises while you work to develop your management style and mindset. This doesn’t mean you have to change your perspective – in fact you should be certain your vision is clear. However, the shift in roles may require you to operate differently than you have in the past.

The mission, and strategic and operational vision of your business are the foundational elements necessary for you to achieve success. Have them in place before you build your team and ensure that each team member is well versed in how you plan your business to run. Share your vision with your team members and hire personalities that will complement and strive to engage that plan and make it their own.

 

Trust

Often the most difficult skills in the transition from agent to team leader is to learn to let go and delegate responsibilities. But in order for your team to embrace your vision, you have to show them that you believe in them. Carefully outline responsibilities and expectations around client services and then trust in the people and policies you’ve put in place to fulfill them. Once your expectations are communicated and team members have been trained, lead by example and coach team members only when necessary.  Focus on positive reinforcement, rewarding good work with compensation and recognition. This will help build trust between the team and you and will demonstrate your commitment to a team structure. This commitment will serve as a key contributor to the long-term success of your business.

 

Clear Communication

Developing and maintaining clear and effective communication channels with your team, between team members, and with customers will help you showcase your commitment to the success of a team model. Share your vision, goals and processes with team members early in the relationship and lead by example, soliciting and exchanging feedback regularly. Host and attend sales meetings, as well as one-on-one and less formal gatherings.

Your primary goal is not to be best friends with every team member. Rather, you should strive to serve as an example of how to communicate as a team, with your vision at the center of every interaction. Reward team members for assisting others on the team for the good of the business.

To learn about how to lead a real estate team and achieve new levels of success in 2019, start your free 7-day trial of AgentEDU today and learn the skills needed to make the leap in the new year!

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The 3 Types of Brokerages You Need to Know Before Starting Your Own

If your team has grown to the point where your brokerage isn’t contributing to your success, you may be thinking about striking out on your own. The risks and uncertainties involved with starting your own brokerage may keep you from taking the leap. But leaving your brokerage behind may open up significant opportunities for professional growth and financial gain.

In this blog post, we’ll be reviewing the different types of brokerage models to help you decide what might work best for you to serve your customers and ensure success for years down the road.

If you’re one of those TL;DR types, and you’re thinking of starting your own brokerage in the new year, then start your seven-day free trial of AgentEDU today to watch the full course, “Are You Ready to Open Your Own Brokerage?

 

Traditional brokerage

In a traditional brokerage model, agents typically leave their current brokerage and start a new one. The business owner or lead agent takes on the responsibilities associated with leading a business in addition to their duties as an agent. Your brokerage can specialize in a type of real estate, such as new construction or luxury homes. As you grow and develop your team, you’ll receive a portion of the sales closed by each agent that works under your brokerage.

Owning your own brokerage will allow you to implement new ideas and deliver results to your clients under your vision.

There are great rewards and great risks in starting a brokerage. You assume the amount of work and the cost required to manage a business. Even the most successful, hard-working agents can underestimate the commitment needed to open their own traditional brokerage.

But you will be free from the bureaucracy of the “big box” brokerage, and have the ability to adapt and make changes more quickly based on the climate of the industry and your particular market.

 

Franchised brokerage

You also have the option of buying and running a franchise of another brokerage. As the owner of a franchised brokerage, you will represent a well-known brand, have a built-in support system and work within the system of the larger organization.

There will still be rules you’ll need to follow and requirements to meet. You’ll need to pay for training, support and other resources for your office and for your agents. You’ll need to pay ongoing percentages of revenue — likely 5 percent of your gross revenue — for sharing in the brand.

To determine if buying a franchise is right for you, you’ll need to consider the market share of the brand, the required fees and the potential for sales. Just like starting a traditional brokerage, you’ll need to be prepared to handle the day-to-day operations: business planning, acquiring and training on new technology, and hiring additional agents to grow your team.

According to Entrepreneur magazine, franchises are more likely to succeed than independent startups. There is much less risk involved in owning a business that has already been established and is well known in the industry.

 

New, nontraditional brokerage

New, nontraditional brokerage models emphasize small teams and partnerships that share resources to maximize efficiency. Nontraditional brokerages may share work spaces, administrative staff and office equipment to save money and maintain profits.

Within the team-based model, specialists are designed to handle specific duties within the team. Each team member focuses on a particular specialty and communicates with the rest of the group based on this role. Each sale is integrated within the team.

New models in any industry often take time to adapt and change to best fit the climate of the market. A nontraditional model may work for you, but you’ll have to consider the management style that will work best for your agents. Once you’ve achieved administrative planning and success, the team-based on model may bring unmet client service standards to your customers.

A nontraditional model gives you the opportunity for greater reach for marketing, networking, lead generation and sales [How?]. The strength of this model lies in your team being able to drive referrals based on excellent customer service. The focus is always on retaining and growing current agents within their specialty, and ensuring collaboration within the overall team.

No matter what you decide, owning and running your own business can be both challenging and rewarding. Those who are up to the challenge are usually in for an interesting path to success.

To chart your own path to success in 2019, download your free business plan template and start your free 7-day trial of AgentEDU.

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3 Steps to Handling a Low Appraisal

Receiving a low appraisal can be frustrating. If you’ve done the appropriate research and if all the parties agreed to the price, then it can’t be too far off base, right? So what options are available to you if the appraisal you received isn’t what you and your client expected?

If you’re one of those TL;DR types, then start your seven-day free trial of AgentEDU today and watch the full course, “How to Handle a Bad Appraisal“.

Here are three steps to handling a bad appraisal:

  1. Try to get the appraisal adjusted. Before taking this route, be sure to let your clients know that it’s difficult to get an appraisal changed. You can ask the appraiser to return, provide additional information to support your own findings, or have the lender send out a different appraiser take a look, but this is an extra expense and rarely yields positive results.
  2. Apply for a loan with another lender. Another route you can take is to have the buyer apply for a loan with a different lender. There may be new fees incurred, but if you’re sure that the appraisal was simply wrong and you can’t get it changed, this may be the best way to get the property reappraised and produce a more favorable outcome.
  3. Have the clients agree to a new price. You may have to ask your buyer to agree to a new price or put in a higher down payment, or ask the seller to lower the price to meet the appraisal results. If you’re representing the buyer, you may want to try to get the price renegotiated. Putting the price in line with the appraisal can be a chance to get a better value for your client. If you’re representing the seller, your goal is to get the buyer to make a higher down payment — because the lender is really only concerned with the amount of the loan, not the total price of the property.

These negotiations can be tricky, and both sides might have to give a little. What happens will depend on the market and how motivated the buyers and sellers are. But at the end of the day, the most successful agents avoid this situation by having an appraisal strategy already in place.

To learn more about how to overcome a bad appraisal and how to make the most of the appraisals process, explore our Appraisal track at AgentEDU.

AgentEDU features more than 70 different courses, each designed to teach agents the best practices for every situation. From daily core skills to high-level negotiations and everything in between, AgentEDU helps agents become top producers with increased earnings and a plan for continued growth.

 

 

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4 Ways an Assistant Markets a Listing

Attracting qualified buyers is one of the most important skills that sellers will expect from their agents. An assistant can be extremely useful in helping agents with this essential task. In this blog post, you’ll learn four ways an assistant can help marketing your listings.

If you’re one of those TL;DR types, then start your seven-day free trial of AgentEDU today and watch the full course, “An Assistant’s Role in Marketing Real Estate Listings.”

 

Traditional advertising

In many cases, traditional media is still effective for the real estate business. For example, use postcards to let neighbors know about a new listing or a recently sold home. This offers market information, plus exposure for listings and the agent. Make sure the photos look great, the message and the call to action are clear, and that your agent’s brand is properly reflected.

Print advertising is effective in certain markets, but not in others. Online advertising allows potential clients to click through the ad to the agent’s website or email. Also: Don’t forget to look into marketing opportunities on syndication sites like Zillow. These can help with lead generation. Ultimately, advertising works best when you know who your target market is and how to best reach them.

 

Social media

Facebook, Twitter, Pinterest, Instagram and Snapchat are among the most popular social media networks, but additional networks may emerge and you’ll need to be ready. The idea is to keep your company relevant and useful. If you can find a specific angle that can bolster your brand, all the better. Create an editorial calendar planned three months in advance so that you can map out a strategy and use analytics to optimize and refine your message.

 

Surveys, testimonials and reviews

A completed transaction is not the end of an agent’s relationship with their client. It’s a good idea to send a survey to clients after a transaction is finished to let them share the pros and cons of their experience with your agent. This information is useful to agents so that they can make improvements to their systems and services. It’s also a low-pressure tactic used to ask for a testimonial and an online review. In order to create and send a survey, you can use a simple, expensive third-party service.  And getting testimonials and reviews on sites like Yelp can help an agent attract new clients and stand out from the competition.

 

Get involved in the community

One of the best ways for agents to market their business is by having an active presence in their communities. Assistants can be on the lookout for what’s happening in the local area.

  • Attend community meetings
  • Visit festivals and entertainment events
  • Consider volunteering at the local school
  • Sponsor neighborhood programs

You can keep track of event opportunities for your agent and maybe even attend some of them yourself. They will give you the opportunity to meet potential clients and share more about your business while having a little fun along the way.

Selling homes is just one part of an agent’s business. It’s just as important to ensure that your agent will have a steady stream of business, and that your agent’s brand is professional and visible within the community.

 

To learn more about a real estate assistant’s role, start your free seven-day trial of AgentEDU today and explore our 8-course track dedicated entirely to training assistants in the unique needs and demands of the real estate industry.

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10 Simple Ways to Prepare a Listing for an Open House

Preparing a home for sale can make the difference in market time, price offered, and overall satisfaction of your performance as an agent. This task is too important to take lightly or to leave up to the sellers. Your goal is to prepare a listing so that potential buyers create an emotional connection to it. In this blog post, we’ll cover 10 simple ways to prepare a listing for an open house.

If you’re one of those TL; DR agents, then click here to start your free seven-day trial of AgentEDU and watch our two-part course, “Preparing Listing for Real Estate Market.”

 

The first step in preparing a listing for market is to advise the owners on how to clean and reorganize so that they make sure the home looks its best. Eliminate clutter and storing personal items will help you make an impression with potential buyers.

Your sellers will need to be on board with these recommended changes. The home may need paint, repairs and additional staging. Even rearranging or removing some of the home’s furniture can make a big difference. Sellers have to understand that an attractive presentation means the home will sell faster and for more money. Walk through new construction model homes to get ideas.

Here are 10 affordable and easy steps every agent can accomplish before a showing.

  1. Clean the house from top to bottom. Wash baseboards, nooks and crannies to make everything look fresh and new.
  2. Change out light bulbs, make them match and dust them off. Keep all lights on during showings, including closets and under-cabinet lighting.
  3. Remove clutter, including personal items and furniture that make rooms seem smaller.
  4. Patch and paint all cracks and holes in the walls. Get rid of outdated or strong colors and go for neutral paint.
  5. Curb appeal is paramount. Clean outdoor areas of debris from last season and store any decorations.
  6. Remove curtains and other obstructions to let as much light in as possible.
  7. Remove seasonal clothing from closets to show more space. Make sure all the hangers match. Closets and storage space should look as large as possible.
  8. Scour shower doors, change toilet seats and clean out drains.
  9. Clean out and dust all vents.
  10. Add healthy, robust potted plants – take out the fakes.

 

Once you’ve completed these steps and given the home a makeover, you’ll notice a big improvement – and your potential buyers will, too.

To learn more about how to prepare a listing for an open house, click here to watch the two-part course and start your seven-day free trial of AgentEDU today!

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10 Questions Every Agent Must Answer to Determine Quality Leads

Now that you’ve spread the word about your real estate skills, you’re going to get a number of inquiries. While it’s great to have folks contact you and increase your database of leads, the real goal is to convert these leads into clients.

Before you invest too much time and energy into a lead, there are a few things you should find out about them. If you’re a TL,DR agent, then click here to start your seven-day free trial of AgentEDU today and watch the full course, “Converting Real Estate Leads.”

First, you need to know if they are qualified leads. Do they really plan to buy? Can they afford it?  Can you help them? Here are 10 great questions to get the conversation going, and also help you find out how likely it is that this lead will turn into something more.

Question 1: Name?

The first thing you need to know is their full name. Take note of this information so that you can properly store it in your CRM system.

 

Question 2: Email address?

Email is a really great – and free – way to keep in touch. Keep your lead’s email address handy for future communications.

 

Question 3: How long have you been looking for a home?

This question can help you determine a lot about the buyer. If they’ve been looking for a couple of years, they may never be willing to move. If they just started their search, they may not be serious about acting soon, either.

 

Question 4: How soon do you need to move?

If they need to move immediately, then you’ve got a high-priority client on your hands. If they want to move in the next few years, you’ll want to take note of that as well.

 

Question 5: Do you need to sell your current home before you can buy?

Most sellers can’t buy a home because they have to sell their current one first. This also means you can potentially help them with more than one transaction.

 

Question 6: What type of home are you looking for? Condo? Single-family? Etc.

Find out what they’re looking for and why. File this information for future use.

 

Question 7: What is your comfort zone in terms of price?

Be sure to ask about their comfort zone, rather than just their price range. They may be able to afford more, but are only feel comfortable looking in a specific range. This information will be helpful if you move forward.

 

Question 8:  Are you working with another agent?

Find out early if you’re the only agent in the running for their business.

 

Question 9: Have you met with a lender yet?

This is the best way to get the ball rolling in terms of finding out if they’re pre-approved or not, which makes them a more viable client.

 

Question 10: Have you been pre-qualified or pre-approved?

If they haven’t been pre-approved yet, see if you can help them with the process. Ask them the following: “If I call a lender who has an opening available tomorrow or the next day, would you consider taking an appointment?” That way, not only will they get prequalified and you’ll know that they can afford to buy a home, but you can get them to meet with your favorite lender. This will help solidify the relationship.

To learn more about how to vet leads and to sell yourself to potential clients, click here to start your seven-day free trial of AgentEDU today and watch the full course, ‘Converting Real Estate Leads.”

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