Many believe if they could just have more, they would make more money. Generating leads is generally not the issue. In fact, a bigger issue is converting more of the opportunities that we have.
If you are running your business well, you should have a variety of different lead sources. These can include leads from call capture systems, open houses, working around listings and perhaps different internet sources, SOI or even from completing daily prospecting.
They should come in from several different sources. The challenge is not a lack of prospects; the challenge is how do we convert a higher rate of the leads that come in?
Converting leads successfully usually comes down to how well you can qualify them. This is more important than you think because once you qualify and understand their timing or urgency, you can put them on an appropriate follow-up plan.
To qualify them, check out the WSS LPMAMA script or a similar script that provides specific questions and helps you assess the prospect’s motivation and timeline. Using tried-and-true dialogue helps you make an immediate impact while establishing your knowledge and professionalism in the industry.
Again, it’s not about generating more leads; it’s about personally following up. To put this in perspective, only 48% of salespeople never even follow up with a lead after receiving it. Only 25% of sales people make a second contact.
This occurs because most agents and investors put their contacts into an automated “touch” system and wait for people to call and turn themselves in. That’s not being in sales, that’s being an order taker and it often doesn’t result in closings.
Unfortunately, for those who don’t properly follow up, the money is made on the fifth to 12th personal touch.