How To Convert Real Estate Buyers
Get your prospects to turn into clients in real estate
We've all been there. You finished a showing with a new buyer starting their home buying journey, and you're not sure of the next step to convert this buyer into a client. The showing went well; they didn't hate the house, but you know it's not for them.
This is when the relationship enters what we call the "awkward teenager" phase.
You know they haven't committed to working with you after one showing, but they also didn't seem like they were just tire kickers either. What do we do?
This is common for new home buyers starting their journey or sellers who haven't fully decided if they will sell yet.
If there is ever a time that we need to perform, this is it.
Let's dive into four ways to win these clients over with more consistency.
🎧Listen to this on the Rev Real Estate School podcast🎧
Let's dive in!
Real Estate Tip
Overdeliver:
What's shocking to most agents is there is not a large gap between the best converting agents and the mediocre agents when it comes to service. The average agent tries to prepare, build rapport, and provide useful information.
The exciting thing is all your success lies just beyond providing "good service."
Multiple Showings: An easy display of going beyond the norm is booking an additional (surprise) listings when these leads request one viewing. This differentiates you and allows more time to build rapport with the lead.
More Information is Better: Every agent has the listing sheet and knows the number of beds/baths. Don't think that this is enough to convert these leads. Market data, schools, community info, crime rates, the three most recent sales, and a handwritten card all neatly placed in a branded folder sets you apart.
Automation Doesn't Replace a Human: After the showing, there's temptation to ask for their criteria solely to add them to automated new listing emails. No problem if they want this but don't let this be your first line of defence, instead set yourself up on the feed and reach out to them personally when an opportunity hits the market. This shows you are watching the market and serves as another touchpoint.
Delight:
Delighting leads is more simple than we make it seem in our heads. We are not talking about extravagant gifts or having the most charming personality. This is as simple as remembering their names, kid's names, pet's names, hobbies, and desired home features. Of course, this also depends on your ability to ask questions and not make the conversation about you (too common).
Another way to delight a lead is to let them know they can take as long as they need to buy a house (or decide to sell - if ever) with you. Most leads in this stage are non-committal because they don't want to feel pressured, and they don't know you yet. Simply letting them know that they should take their time to buy will instantly build trust.
Questions:
Thoughtful questions show care, skill, confidence, and suggests you are experienced. We don't only want our questions to be surface level: "Do you like the kitchen? How's the living room size? Did you like the house?" You need to think one level deeper. Often this can be accomplished by thinking, "why is what I'm asking important?"
"Do you like the kitchen?" --> "What would you change about this kitchen, if anything?"
"How's the living room space?" --> "How would you set up furniture in this room?"
"Did you like the house" --> "On a scale of 1-10, how much do you like this house, but you can't choose 7?"
Don't just "wing it" with questions. Write them down. Practices them and bring them to the showing.
Responsiveness
We've all been on the receiving end of impressive response time. Did it increase the chances of you doing business with that person? Yes! You're dealing with clients who are not committed to an agent. You're not the only one in conversation with these clients and fighting for their business. An instant response shows a level of dedication to one's craft.
A rule of thumb is to try to respond in less than 5 minutes. Of course, this isn't always realistic, but strive to show responsiveness and watch your conversion rate go through the roof.
Zoom Out: The "awkward teenager" stage is usually early in one's home buying or selling journey. You've met the client and perhaps been on one showing, but they haven't committed to working with you. You're not sure of the next steps to increase the probability of conversion. Overdeliver, delight, ask thoughtful questions, and responding quickly are the ways to increased "awkward teenager" conversion.
Looking for more tips and advanced strategies, you can catch Episode 178 on the Rev Real Estate School Podcast.
Have a question you would like answered on the show? Realtor Q & A