In the world real estate marketing and sales, leads are considered the most important raw commodity. Often, real estate people tend to think they could turn these leads into sales closures by carefully managed nourishing and interactions.
In our experience, this often isn’t the truth.
In real estate business, the CPL is the term or metric often used to measure the effectiveness of the marketing activities. In simple terms, it means cost per acquired lead. Often, this is calculated as the total marketing expenditure divided by the total number of leads. CPL= Total expenditure / Total number of leads).
But this isn’t the most effective way of acquiring leads for your real estate business.
Forget cost / lead, Focus on cost / conversion
When leads are the most valuable metric on the table, the marketing team tends to focus on generating maximum number of leads. In this situation, the quality of leads often turns out-to be questionable at best.
For example, let’s say that your marketing team gives an estimate of cost/lead of four dollars. If your project that’s worth quarter a million dollars, this should appear to be a small price for an actual project. Actually, this should be considered a highly lucrative opportunity.
Only that, as per reality the truth isn’t so rosy..
When you run a mass lead generation campaign, it will lead to collecting a large volume of leads within a given time frame. Usually, this would generate a large number of inbound leads that are a mix of high quality and low-quality leads.
As per studies, the chance of getting a positive response steeply goes down after the first 30 minutes. In this situation, the sales team may not be able to engage all leads within the stipulated time limit.
Without a quick and easy way of segregating leads, a significant portion of high-quality leads is also likely to go to waste along with casual enquiries.
In this situation, a realtor should be able to effectively and instantly identify the high-quality leads. Instead of taking a random guess about the prospect value, the realtor can potentially identify a real sales prospect based on his or her questions.
Without further adieu, here are the five questions that could potentially act as a litmus test for qualifying high-quality leads.
What are the different types of Flats?
Often, you need a set of USP’s to convince a real estate buyer to make a purchase. For example, they could be looking for both comfort and convenience. When the prospect asks “how much is the square-foot area or rate / square-foot area?” it usually means that your prospect is currently considering the spaciousness of a given project. In this situation, a real estate salesperson could illustrate why a particular project is ideal for the prospect.
How far is a corporate headquarters / IT are park?
Universally, no working professionals like to start their day by being in traffic congestion for more than hour. With this in mind, all working professionals have become highly sensitive to their residential location. In this situation, if your prospects ask “how far is a given office? it’s an indication that the prospect is looking for a residence close to his/her place of work. A good location will incrementally increase the attractiveness of your project.
How far is the Airport or Railway Station?
If the customer needs to travel frequently, he or she wouldn’t want to spend three hours reaching an airport or railway station. If you get asked ‘how far is the airport or Railway Station?’ its definite evidence of your prospect is trying to zero in on the right purchase option.
How much is the land area?
A prospective real estate investor would like to know about the value of his /her investment. Along with the location, the land area can be an important factor that goes into this consideration. It’s also an assurance of adequate free space within the project. If your prospect asks “how much is the land area?” it’s a most likely sign of prospect looking for value for money.
Where is the nearby Educational institute?
Most parents would like to take-on their kids “transit burden” onto themselves. For this reason, the parents would choose their residence that’s nearer to their Kid’s educational institute than their workplace. If a prospect asks “How far is X college or school?” it can be considered a definite mark of an enthusiastic realtor buyer who also happens to be a proud parent.
Do you have details of legal registration?
Recently, there have been many horror stories where the realtor duped the prospect into buying projects that are under legal dispute. Amid the growing confusion, it’s completely understandable that real estate buyers are doubly dubious about any new projects. If the prospect asks, “Do you have all the legal documents ready?’, it’s an obvious indicator that the prospect is looking forward to buying a legally clear project.
That’s it. Although it’s not conclusive, these five questions are a sign of a high-value sales lead. Only a high-value sales lead, would like to close the deal in short-time
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How can we help you at maximizing sales?
As per studies, the real estate companies that respond to their leads within the first 10 minutes can acquire almost double the number of leads. At the same time, the realtors should also be able to positively identify high-value leads and prioritize them in real-time. Amidst the middle of a busy day, most salespeople struggle to respond to leads within this stipulated time limit.
At Livprop chat services, we help sales teams to accelerate and streamline the sales people by directly passing over qualified sales leads.
We are a team of live chat agents enabling real estate websites achieve 5X more conversions. Our 24×7 chat interaction services proactively engage and initiate chat interactions with your website visitors. Based on the quality of interactions, our chat agent qualifies each individual lead as high quality or casual enquiry. Once we identify a high-quality lead, we instantly hand-it over to our sales team based on client approval. After the hand-over, your sales team can directly start interacting with these highly-qualified sales lead.
You can start by having a free trial completely on us, visit our website @ http://livprop.com
Mr. Prassanna Kumar is Industry veteran with in-depth experience in managing 24×7 chat agents and different marketing activities. He has experience at growing brands in different industry verticals. You can connect with him at his linkedin profile