The mortgage rates in the US rose to 5.81% in mid-June. As the world is going through an economic crisis, homeowners may find it challenging to sell their homes quickly due to the declining buyers’ interest. This scenario presents ample opportunities for real estate investors to maximize the potential of motivated seller leads. But what strategies do you have as an investor to turn your leads into customers? As a company focused on helping real estate investors, we have developed an in-depth analysis and plausible solutions to maximize the potential of motivated seller leads.
Optimize Your Customer Relationship Management (CRM)
There are many ways to generate motivated seller leads. You may be using texts, phone calls, PPC, or networking with attorneys or inspectors. Whatever the methods you use, they can go in vain if there is no system to track and respond to the systems quickly. You must optimize your CRM to follow up with your motivated leads.
PPC leads are expensive but likely to convert faster. After the potential motivated home sellers click your advertisement, they’ll be directed to your landing page that may have a web form or a call option. Ensure the landing page is filled with relevant information and linked to the visitors’ goals. A piece of concise information accompanied by videos and images and a solid call to option can increase the conversion significantly. Plus, ensure the web form is simple and easy to fill.
Whether the motivated seller calls you or submits the details on your website, have an automated process to notify your sales team with an email or text message. It enables you to follow the lead immediately without giving them time to explore other options. You must also send an automated message to the sellers saying you will get back in a few minutes.
Phone Call Leads
Phone call leads are easy to convert as the sellers are genuinely looking for a quick and feasible solution. Make sure the calls are answered and tracked efficiently. If you miss the call, you should be notified with a message or email. The notification process allows you to keep track of the leads and maximize the potential of motivated seller leads.
Whenever you generate a lead from a web form or a phone call, make sure it’s integrated with your CRM system. You can follow up with them at any time and send a series of messages in the future.
Efficient Internal Tracking
As a busy real estate investor, it’s always not possible for you to monitor the leads. You need to set up a sales management team that is adequately trained in converting the leads. But how do you ensure they meet the targets each month? You can have a set of Key Performance Indicators (KPI) that analyze the leads and make the process efficient and effective.
The Critical First 5 Minutes
According to real estate industry experts, the chances of converting a lead drop nine times when you don’t follow up in under five minutes.
The leads coming in through PPC, emails, and calls are hot and looking for a quick solution. Be prepared to respond to these queries immediately. If you don’t answer them, someone else will, as many buyers like you are waiting for these leads.
You can reply to the motivated seller leads with quick messages, emails, or calls in less than five minutes. This speed doesn’t give them a chance to explore other options and keeps you at the front of their minds.
How to Make the Best First Impression
The problem with most real estate investors is that they’re anxious to close deals and make many errors at the beginning of the negotiation process. Educate your sales team about how you can make the best first impression to maximize the potential of motivated seller leads.
Get to Know the Seller
The motivated seller contacts you, hoping you can provide the solution he has been seeking. Don’t try to get details about the property when you begin the conversation. Listen to the seller and try to understand their position and state of mind. You can start with questions like, “Where are you from? What do you do?” Make the caller feel at ease and comfortable. Create an impression that you’re a trustworthy and reliable buyer who can offer a quick solution for the motivated home seller.
Don’t Put Too Much Pressure on the Seller
The aim of your first phone conversation should not be about buying the property. It should focus on getting to know the seller and setting up the next step in the process. When you pressure the seller, they may feel stressed and look for another buyer. You must take the conversation to the next level by making the candidate confident about selling the home to you.
Creating an Effective Follow-Up System
Not every lead will convert, but that should not keep you from following up with potential sellers. About 70% of home sellers close deals with buyers they contact first. If you follow up with your leads with effective emails, text messages, or phone calls, you will likely close more deals than your competitors.
You can automate your email campaigns at an interval of three days, one week, or bi-monthly to stay in touch with potential motivated home seller leads. Get creative with your emails by adding voice broadcasts and attractive designs that reflect your brand.
No one proven model delivers the best results. However, you can implement the best practices to maximize the potential of motivated seller leads.
Motivated Leads is a team of real estate marketing experts that helps real estate investors generate motivated seller leads through online marketing. If you’ve been wondering how to generate motivated seller leads, reach out to us today.