Leads are the lifeblood of any business. Period. Whether you’re communicating with a lead or a customer, both should receive the same amount of attention.

If a prospect is recommended to you, finds you online, or hears about you through word of mouth, the clock starts for you to put them at ease in helping them through this important transition in their lives.

You might think mishandling a new lead is a short-term problem, but if it’s consistent, applying a band-aid will only keep the same issues down the road – damaging your reputation and your business references.

A prospect has sparked interest in you – don’t lose it

Remember, prospects made 60% of the buying decision before ever talking to a sales rep, so they’re ready to pull the trigger and move on to working with a real estate agent. If you’re struggling to convert, there may be a deeper reason why your leads are going through a revolving door — and that has nothing to do with the associated costs.

Let’s take a look at some of the ways you could turn leads away from working with you and if any of these warning signs ring a bell, you need to correct them quickly!

1. Don’t respond

A lead likes to educate themselves and will understandably ask a lot of questions – questions to which they expect answers in a timely manner. Real estate can be an overwhelming arena where inconsistency kills, and deals can fail if there is no progress.

No matter what aspect of life this is in, if someone doesn’t respond to getting back to you, you’re ultimately saying you don’t consider them a top priority.

2. Limit the ways to communicate

According to a marketing study by McKinsey & Company, email is 3 times more likely to convert lead than social media. That’s why you never want to block the media on which customers want to communicate with you. By accommodating their preferences, the relationship will be significantly strengthened. Now the Holy Grail has an email address here to keep in touch on the go and always stay on their radar.

Try something like, “I’d like to get your email address so I can keep you up to date with valuable real estate information. Are you okay with that?”

3. Come across as too aggressive

People who come to the decision to enter the market are making an important life commitment, and they need someone in their corner who is a personal fit. It’s a gut feeling decision and they need to feel comfortable with someone who is actively looking out for their best interests.

4. Asking for referrals too soon

Jumping the weapon and asking for a referral can be a quick way to turn a prospect down. Timing is everything here, and you have to balance it well so it doesn’t seem like you’re overlooking the client. Don’t get us wrong, asking if there’s someone they know who could use your help is solid business practice – but wait until you’ve demonstrated your worth and have tangible results to justify asking.

It’s all about finding that balance.

5. Let your competition in

Taking the lead for granted, especially if you think you’re the only broker they talk to doesn’t work. It can also come as a rough awakening when a client goes elsewhere for consultation. Just because someone has shown an interest in you doesn’t make it a foregone conclusion. Continually demonstrate your added value by going the extra mile for them and showing that you understand market conditions, their expectations and how all your work fits into their budget and vision. Getting sloppy can have a devastating effect on your bottom line.

These deadly sins can wreak havoc on your future pipeline, but the interesting thing is that there is a quick fix to prevent these problems from happening again.

Have a CRM designed for the mind of a estate agent helps unify all the moving parts of an agent’s daily activities.

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