Closing a deal is a challenge that’s far worth the reward. The sense of accomplishment that comes with a close is unmatched. But what about those times where you tirelessly work a qualified lead, only for them not to close a deal with you? It’s enough to leave an agent questioning their future in the real estate industry. But before you go throwing in the towel, we’ve got a few reasons that can help you figure out why your qualified leads won’t buy or sell with you.
They’re Not Ready Yet
According to experts, it takes approximately 3 months for the average buyer to make a purchase. In some cases, a qualified lead takes up to 5 touches before a deal gets made. A thing to keep in mind when working a lead is that for some buyers or sellers, this is their first foray into the real estate realm. This detail often influences their behavior throughout the buying or selling process. They want to take their time ensuring that they’re making the right decision before taking that finite leap.
Another reason your qualified lead might not buy or sell with you is that they’ve just begun their search. If this is the case, chances are they’re not really a qualified lead, and they’re not ready to take the plunge and settle on the first offer that comes their way.
To test a lead’s actual readiness, you can have an open and honest conversation with your qualified lead. Ask what their concerns are, let them know you sense some hesitation, and dive into what you can do to ensure a positive experience. Doing so can genuinely strengthen their trust and confidence in you, and when they’re ready to buy or sell, they’re more likely to revisit your services.
You’ve Misidentified a Qualified Lead
The real estate game isn’t a fine science; it’s made up of lots and lots of trial and error. To find a qualified lead, you may need to consider that the reason a lead isn’t buying or selling with you rests in your process. You may be looking at the wrong qualifying data. Revisit what you consider data or traits that make a prospect a suitable lead. When you tinker with your process, you can find a winning recipe will convert qualified leads into closes.
They’re Working with Multiple Agents
If your qualified lead seems to be dancing around the idea of finalizing an offer or a selling amount, it might be because they’re working with another agent. Although this isn’t a cardinal sin, it can leave you feeling like your lead doesn’t trust you or have faith in your abilities. Because many agents work on commission, they don’t charge upfront, which can mean good news for a lead, but bad news for an agent. Your qualified lead can play the field, so to speak, seeing who will bring them the best option.
They’re Asking for Too High of a Price
Most sellers have a basic understanding of the negotiation process and are willing to come down on their asking price. A reason why they won’t be looking to budge on the asking price is that they might have an unrealistic idea of what the property should sell for, or they believe others don’t see the true value of the property. This can happen when it’s a property that holds sentimental value, or the seller has put significant work into the home throughout the years.
When this occurs, as hard as it is, try to focus your attention elsewhere. Your energy should be spent on a property or buyer that’s worth your time. The more time spent chasing after a wishy-washy lead means more time lost following up with a more promising lead.
You Waited Too Long to Follow Up
Time is of the essence, and this proves even more true in the real estate business. In order to get a qualified lead to buy or sell with you, your timing has to be impeccable. With fresh leads, your window of opportunity is small. According to an MIT study, your odds of reaching a lead decrease exponentially after 30 minutes. Typically, after submitting a request or giving your agency a call, a lead has a few minutes of free time before they start to tackle other tasks. This is your chance to reach out and use their interest to your advantage.
On the opposite end of the deal, when you have a qualified lead who wants to mull over their opportunity or discuss it with another person, you only have a few days window of opportunity. The longer you go without touching base with them and staying fresh on their minds, the greater the chance for another agent to swoop in and close your hard-earned deal.
You Don’t Have a Strong Presence
Ads, marketing, and word of mouth are powerful lead generating tools. But if you’re having trouble getting leads to buy or sell with you, try examining your presence. Your presence goes hand in hand with marketing because agents who seem to be everywhere — online and around town included — tend to appear knowledgeable and like a trusted resource to potential clients. Are leads able to find information about you? Are you making yourself known either on social media platforms like Twitter or through physical ads? If not, increase your qualified leads and your conversion rate by employing these tactics. You may even find that leads will start coming to you.
Call Motivated Sellers: Helping You Find Quality Leads
Have you found that you can source qualified leads, but can’t seem to convert them? Why not enlist the services of Call Motivated Sellers to help out. By combining our lead-vetting services and the tips and tactics listed above, you’ll find that having trouble getting leads to buy and sell is a thing of the past.
Let us be of assistance. Contact our team to learn more about our services!