How Old is Too Old for Leads in the Sales Pipeline?

February 27, 2013

As with all cycles, the current market rebound has provided us with an opportunity to re-evaluate our lead generation efforts and to revisit our past successes. One thing that we’re constantly reminded of is that the real estate industry is all about timing. Today, inventory is at its lowest point in six years, and the local and national media are recognizing the market’s return. The timing is right. What’s next?

1.  Look to Database. If we’ve been really good students of the game, we’ve spent this interim period wisely by educating our prospects, laying the groundwork and nurturing their interest in your property. Now that they are ready to “jump off the fence,” we may even have a slight advantage.

2.  Communicate. Now is the time to reach out to EVERYONE in the database and make a fresh assessment. The cost to keep relevant communication in their sphere of awareness is minimal. The cost of losing a lead to a competitor who keeps his project in front of everyone is immeasurable. Lifechanging events happen every day.  A lead that went cold a year ago, could be hot today.

3.  Convert the Ones You’re With. Real estate professionals understand the value of their “book of business.”  Even those prospects that may have previously been moved to an attrition category should come up for review. We are constantly hearing from sales offices around the country that this current market rebound is bringing us repeat visitors from 2-4 years ago, and many of those prospects are now ready to make a deal. Never underestimate the value of your database–they are the low-hanging fruit.

4. Happy Endings/Happy Beginnings. Once the sale is made, the selling doesn’t stop. Every new home buyer should be an instant resource for referral leads. Ongoing communication with your residents will continue to generate leads for the future. It is imperative to foster an ongoing conversation through social marketing. Utilize Facebook, LinkedIn, Pinterest and YouTube to share the excitement. Maximize the use of digital resources to provide ample opportunities to share your story with friends and family.

It’s time to use all of the tools in your toolbox. An informed prospect is your best opportunity to convert to a buyer and become a great referral source. For more information or assistance in developing your communications plans, visit TheCottonSolution.com or contact Anne.Sullivan@cottonco.com.