Lead generation is so simple and yet, so challenging at times.
It’s simple because you lay out some cash and you get names, phone numbers and email addresses for a bunch of people who supposedly want to buy or sell a home.
It’s challenging because once you get the leads, converting them into appointments and then into homes sold can bring even the best agents to their knees in frustration and angst.
If this makes any sense to you, then you’re not alone.
The good news is that with a fresh perspective on lead conversion and a good texting strategy, you can go and revive a decent number of those leads that appear to be lying, dead, in the “graveyard’ of your CRM.
Here’s what you need to know - and do - to put 5 text messages to work to revive “dead” leads.
What you need to know about leads
When looking at the leads you generate, consider just a group of 100 of the leads.
Instead of focusing on one single lead and putting a lot of focus and pressure on converting that one lead, think about what happens with 100 leads.
For all 100 leads there are three possible outcomes for each lead:
- Some will buy right now
- Some will buy later
- Some are not going to buy at all.
There are three and only three possible outcomes that can result from this group of 100 leads.
My guess is that up to now, you haven’t looked at a group of leads like this and worked out your specific numbers, but it is important to know the numbers in your business.
The significant value hidden in “dead” leads
By taking a closer look at the numbers, here’s what we know:
- Only 3 to 5 of those people are ready to buy now.
- 15 to 20 of them them (including the 3 to 5 above) will buy in 90 days
- A little over 50 of them will make a decision to do something within 18 months
That means 70-plus of those 100 leads will likely do something well into the future.
Unfortunately, a lot of agents give up after the 2nd call, which is unfortunate because so many sales are made at the fifth contact and beyond.
At the end of the day, if you stay in touch with your leads and contact them well past the first three months after you generate the leads themselves, you’ll be able to generate some business for yourself.
Texting leads to “revive” them
If you’ve called once, you’ve called them a 100 times and yet, despite making contact the first time and having a good conversation...you just can’t get the prospect on the phone again.
It happens to all of us and it can drive you crazy if you let it.
The good news is that because text messages have a 99% opened rate and 95% of them are read within three minutes of being sent, they represent a great opportunity to rekindle a conversation - and even a relationship - with a lead that has been dormant for a long time.
Here are 5 text messages you can send to revive leads that are still very likely selling and buying opportunities:
- Are you still looking to buy a home? It seems so simple, right? The fact of the matter, though, is that the more simple the text is and the more the text seems like it’s coming from someone the receiver knows, the more likely it is to get a response.
On top of that, it’s a “dead” lead, right? So there’s a very strong chance that you haven’t asked that question of them in a long time.
What’s even better is that since some time has passed, there’s a much stronger likelihood that your buyer prospect is much closer to buying a home.
This one simple question can elicit some amazingly detailed responses including not only a yes, but also details about the home they are looking to buy and the time frame in which they are looking to purchase.
- Are you still looking to sell your home? The same simple question that works with buyers is also extremely effective with sellers, too.
Not surprisingly, the average seller is somewhere between 11 and 14 months away from putting their home on the market when the first think about selling. What this means is that there are a number of sellers with whom you’ve made contact that may have “checked out” on you and your prospecting efforts.
A short, sweet text checking in on their intentions of selling their home can start a great conversation that leads to an appointment (and maybe even a sale).
- Sorry I haven’t been in contact with you. The actual text reads like this: “Good afternoon! Sorry we haven’t connected. I have put together a market report with helpful intel that my clients LOVE — check it out: [Insert url here].
Believe it or not, this text or one very similar to it will get you a response and/or sign up for your market report about 35% of the time.
It’s very non-threatening and more importantly, if gives folks - especially sellers - the chance to get valuable information about their home sale. What’s even better is that they can subscribe to your market update, giving you a chance to touch them regularly and build a solid relationship with them.
- Check out these homes I picked for you. Consumers love that they’re getting something customized for them. It’s even better when they think they’re getting something that other folks aren’t getting.
The text would look something like this: Hi [name], here are some handpicked listings for you. Good, bad or ugly: let me know what you think about these homes. Will continue to send them to you as often as I can. Would love to know your thoughts.
It’s a safe bet if the leads are 90 days or older that no other agent is sending them personalized emails with handpicked homes to look at. And, even if the buyer isn’t ready to pull the trigger, this effort puts you in first position to get their business in the future as long as you continue to maintain a great relationship with them...including sending some choice listings.
- Have I got a bargain for you? Next to selection, getting a great deal on a home is super important for real estate consumers. And, when there’s someone who can put these sweet deals in their hot little hands, their eyes - and ears - perk up when those deals come their way.
The text looks something like this: Hey [Name], you contacted me a while back about a home. There are a few homes listed below market value (including some great foreclosures) in your area available if you’re still looking for a great deal. Let me know if you want me to send them over.
The good news here is that you could very well spark some excitement in an otherwise dead lead by reaching out to them with some hot buying opportunities.
Jim Rohn put it best: “There are pennies made in e sale, but a there’s a fortune in the follow up.”
No matter how old a lead is, it’s not dead until you say it’s dead.
Be sure to send any one, or all of these 5 text messages, to revive dead leads and get them back in the game of buying or selling a home.