Every lead has value, but not every lead is worth your time and attention. As a broker, you have the responsibility to filter leads that could potentially convert to sales. However, determining this can usually be a hit or a miss. With access to new tools, however, generating real estate leads has become easier, and the only challenge left is to point out qualified leads.
Distinguishing qualified leads from unqualified leads is an essential skill and an easy one to acquire. Unqualified leads may appear as a prospect not looking to buy or sell soon, a prospect with no financial capacity to buy a home, or a prospect unfit to make an informed purchase.
Qualified leads, on the other hand, can be seen through a candidate who knows exactly what they want, tells you how much they can afford, and canvasses for professional brokers. Knowing the difference between these two types of leads allows you to develop a clear strategy for efficiently managing your time and effort.
Read on as we discuss some ways to determine qualified real estate leads.
Understand Your Audience
You will squander important time pursuing unqualified leads if you do not understand your target customer. You may accomplish this by creating buyer personas. These are in-depth profiles of your ideal customers. Do your research and compile a list of details that can best define the type of customer you’re searching for.
Create a System
A way to create a system is to have an early screening process. This can save you time and energy on leads that you don’t need to entertain. Moreover, the more thorough the profile, the easier it will be to discover qualified prospects who are best suited to you, allowing you to refer prospects who do not meet your requirements to other agencies.
Use the B.A.N.T. Method
The B.A.N.T. approach is another way to determine if a candidate is a suitable fit. This is a procedure that allows you to assess if a customer is a suitable fit based on their budget, decision-making authority, need for your services, and timing or availability (B.A.N.T).
Keep in mind that this technique should be used as a broad guideline. It works best when used as a tool to understand the prospective lead better, rather than utilised as a simple checklist. A conversational approach will allow you to delve deeper and learn more.
Analyse Your Data
Collecting your data is an extensive step that may or may not eat up your time, but once it’s available, you’ll be quick to examine the data further. This way, you decide which key elements or pieces of information are most relevant to your needs.
Nurture Your Leads
Leads mean encouraging engagement, so rely on interaction. Whether through emails, phone conversations, or social media, it’s crucial that you engage with clients to build trust. This way, you can demonstrate your knowledge through your words and actions.
Keep in mind that your main goal is to always reach the right leads and make important connections. This can be done by digging deeper into the needs and wants of your prospective clients. Therefore, you shouldn’t hesitate to get out there and explore. By gathering enough experience, you’ll find a methodology that works best for you soon enough.
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