5 Statistics to Convert BUYER Leads

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Last week we took a look at statistics that convert seller leads. Sellers are looking for specific qualities in an agent; they are concerned with moving their property fast and for a profit. Buyers are a little different.

Buyer leads don’t hesitate because they’re worried about hiring the wrong agent; they hesitate because they don’t know if now is the right time to make such a huge investment. Whether they’re worried about the state of the economy or the state of their own bank account, there is plenty to scare off buyers.

If you really want to convert buyer leads, however, there are plenty of industry stats that will motivate prospects to move forward. With a skeptical buyer, you want to take the focus off yourself and more on him or her. Convince your prospect that now is the time to act with these important stats:

convert buyer leads

(Nearly) Historic Low Mortgage Rates

Interest rates have hit historic lows in recent years, and have danced around that mark for quite some time. However, they are starting to gradually rise. Even the slightest increase in mortgage rates can have a huge impact on the cumulative amount of interest the buyer ends up paying.

Home Prices Are Climbing

With the burst of the housing bubble in 2007, the entire country became a buyer’s market. Buyers have had the edge for a long time now, but over the last year, the industry has begun to balance itself out. As more and more buyers hit the scene, sellers are able to ask for more and more in their listing price. Reminding your buyer leads of this will help light a fire under them.

Buying Provides Stability

A common argument you come across with buyer leads is that they think they just need a little bit more money before they can buy. What they fail to account for is that all their other expenses will go up during that time. Even if a mortgage is a bit more than they’re paying for rent right now, it will stay consistent for the next 15-30 years. Rent rates go up year-to-year, based on the subjective landlord.

Furthermore, the average person makes about a 2% raise year-over-year; home prices are currently raising approximately 7% each year. So if they’re waiting for a certain breakthrough at their job, it could only hold them back.  New jobs don’t translate to new homeowners.

Losses Before Wins

If your lead has been through the home buying process before, s/he may be hesitant about how grueling the whole process can be. Who wants to jump back into a cycle of endless offers and disappointment.

If you’re dealing with someone like this, turn the stats you share from the real estate industry to your own qualifications. Share your average number of declined offers, or “losses,” before closing on a home – the ultimate “win.” If you can assure buyers they won’t face too much disappointment with your services, it could be enough to get them off the fence.

Listings Lined Up

Another aspect of the buying process that will scare off many prospects is the idea of just doing tours ad infinitum. Talk about the average number of listings your clients see before making an offer, how many they see in a weekend, and other averages related the house hunting process.

 

Presenting statistics on the current housing market – plus a few tidbits about your own success rate – is all it takes to convert buyer leads into bigger commission checks!

 


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Don’t Let Your Battery Die [Infographic]

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Real estate professionals depend on their mobile devices for productivity. Without your phone or tablet, business comes to a screeching halt. Don’t let your battery die by utilizing these helpful tips and tools. We’ve also included a duplicate of today’s infographic so that you can share this guide with people who are not real estate professionals.

“Batteries are the most dramatic object. Other things stop working or they break, But Batteries… They Die.” -Demetri Martin

Don't-Let-Your-Battery-Die-RE

Battery Saving Techniques

Dim Brightness – Dim the brightness on your phone or use the auto-bright feature to use less battery on screen glow.

Do Not Disturb – Download an app like Power Schedule or use Airplane Scheduler to activate Airplane Mode at bedtime so that your phone isn’t using any unnecessary energy.

Turn Off Vibrate – Although convenient, the vibrate feature uses a lot of unnecessary charge.

Avoid Data – Don’t download, stream, or use any feature that requires data when you’re not linked to wifi.

Turn Off Roaming – If your phone has Bluetooth, wifi, or GPS turned on when they are not actively being used, it is constantly running down your charge.

Boring Backgrounds – Avoid animated wallpapers and screensavers, often called “Dynamic Backgrounds.”

iOS Specifics

Turn off location services

Turn off “Background App Refresh” feature in Settings

Activate “Reduce Motion” feature

Android Specifics

Trim apps running in the background

Reduce push notifications

Keep apps up to date

Delete apps you don’t use

Miscellaneous Battery Boosters

Battery Extending phone case

Rapid charge cable

External batteries

Battery-charging speakers

Real Estate Statistics

Nearly 80% of real estate agents say that text messaging is a major communication medium with their clients

Most U.S. listings are viewed on a mobile device

94% of agents use mobile devices to communicate with prospects and clients.

For non-Real Estate Professionals
For non-Real Estate Professionals
Sources: WikiHow, About, PCMag, and an Inman News webinar titled, “Mobilize and Optimize Your Productivity with Your Smartphone.”


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5 Statistics to Convert Seller Leads

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Home sellers start out very skeptical about finding a listing agent… and rightfully so! Home sellers are looking for someone they can trust to turn a profit out of the biggest investment they’ve ever made.

That being said, however, 70% of sellers end up going with the first listing agent they interview.

Why the quick turnaround? Because a good agent nails the listing interview! The right information will convince even the most hesitant sellers that YOU are the perfect agent for them.  Here are five statistics to convert sellers right away.

 

convert seller leads

Asking Price vs. Selling Price

The first stat you should wow your sellers with is how close your average selling price on homes is to your asking price. Explain that most homes sell for about 95% of asking price, that way if your average is at all higher, you look like a lifesaver. Be sure to focus on all the times your listings ended in a bidding war where the selling price was actually above the listed price!

Eye of the Beholder: Is your average selling price below where you’d like it to be? You can brush over that quickly. Just focus on a recent, comparable listing that sold at a high price.

Average Days on the Market

This statistic is important to your marketing for a couple reasons:

  • Sellers are usually operating under some kind of deadline. They are eager to get out of their current living situation. A mental deadline on the sale will encourage business.
  • Many homeowners hate the idea of private tours and open houses parading through their property on a weekly basis. If you can say, “It usually only takes x number of tours before a bite…” then sellers will feel relieved that there is an end in sight of the strangers in their home.

Average Number of Offers

Every seller thinks s/he is sitting on the gold mine the real estate world has been waiting for. If your listings tend to end in multiple offers – or, better yet, bidding wars – then market yourself with that! Any homeowner will love the idea of people competing over his/her property.

Your Close Rate

When the economy is hurting, or it’s not exactly a seller’s market, some clients will just be worried about selling the property at all. If you close a higher percentage of listings than peers in your community or at your brokerage, then make a point to communicate this.

Eye of the Beholder: Even if your average close rate isn’t any higher than normal, you can still market quantity. If you close a large number of houses – even if it’s far from your total number of listings – that can actually sound just as good to a prospect.

Stats about the Market

Follow market condition reports closely, especially for your town, and promote any stats about it being a “seller’s market.” This will brand you as knowledgeable in the community, but it will also encourage sellers that now is the time to act. Also take a look at when are the best times to sell in your state.

 

Presenting statistics on your own success rates – plus a few tidbits on the local market – is all it takes to convert seller leads into bigger commission checks!

To see statistics that will convert BUYER leads, click here.

 


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Important Moments in Real Estate History [Infographic]

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They say you can’t know where you’re going if you don’t know where you’ve been. This infographic is a timeline of all the historical mile-markers that helped get agents and homeowners where they are today. American real estate history is an exciting journey full of significant highs and lows!

Real-Estate-History

1803

The Louisiana Purchase marks the first recorded major real estate purchase by the United States.

1855

The oldest existing brokerage, Baird Warner, is founded.

1908

National Associaion of Real Estate Agents founded. Would go on to coin the term ‘Realtor’ and become NAR.

1938

The New Deal includes the development of Fannie Mae.

1960s

Introduction of MLS, state by state.

1970

Foundation of Freddie Mac, called Federal Home Loan Mortgage Composition.

1981

Historic high mortgage rates.

1994

Real estate listings start to become available on the Internet.

1995

Early to the Web revolution, HouseHunt is founded.

2002

Broker reciprocity – more commonly known as IDX – becomes available, amking it easier for the public to find listings.

2007

Mortgage crisis causes plummet in real estate value and economic turmoil.

2012

Historic low interest rates and signs of a fully recovered economy.

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10 Free Lead Magnets for Every Agent’s Pipeline

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Everyone knows that content marketing is essential to personal branding, but you can also use original content to generate leads. Lead magnets are a valuable resource that will encourage potential clients to carve out time to hear what you have to say!

A lead magnet is essentially a bribe to the consumer; an offer for a valuable resource to a prospect in exchange for that person’s contact information.

lead magnets

There are two vital components to lead magnets in order to ensure their effectiveness. Every lead magnet must be:

  • Helpful – People will only be interested in material that benefits them. If the information doesn’t seem practical, no one will be willing to exchange their time or contact info.
  • Exclusive – There is a lot of free information on the Internet. If you want people to give you their phone numbers or email addresses you have to be able to offer a tool or resource they can’t find anywhere else.

The easiest free lead magnets are content based. They are created by you, so they are automatically exclusive to your site, and they deal with a common problem/concern that home buyer or sellers face.  Remember that content can vary – you may offer an ebook, a “listicle,” a report, etc.

Here are ten lead magnets you can create for free:

 

  1. Home Buyer’s Guides – See an example here.
  2. Home Seller’s Guides – Plenty of people create buyer’s guides, but a lot of sellers don’t know where to start.
  3. Relocation Packets – Learn the fundamentals of a relocation packet here.
  4. Newsletter Registration – If you maintain a blog with consistent content, encourage people to sign up for a weekly or monthly newsletter.
  5. Comparable Property Stats – Give your clients information found at com.
  6. How-To Videos – Post quick, helpful guides to home repairs, home staging, or whatever else will interest your client base. Adobe Voice is a great way to make quality videos fast.
  7. Real Estate eBooks – Publish downloadable guides to home renovation, realty transaction guides, etc.
  8. Local Favorites – Put together a list of your favorite restaurants, historic spots, and curb appeal. This is a great way to highlight your knowledge of the community while offering exclusive content.
  9. Lists – You can personally compile lists of local short sales, luxury listings, etc.
  10. Reports – Collect info on crime rate, school districts, the local market conditions, and more. Add a personal touch to make this content exclusive to your site.

 

Once you have helpful and exclusive content that you can bribe people with, you just need to set up a landing page to direct people. This is a webpage where you advertise the content you want to distribute and offer a place to enter their email (and possibly more contact info) so you can immediately send them the material.

The first priority once you have their contact info is delivering on your promise to send them the advertised resources. Once you’ve done that however, you should reach out with a phone call or message explaining the benefits of your real estate expertise and request a chance to further dialogue.

Be sure to blast the lead magnet (although, obviously, you won’t want to call it that) on all your social media to make your constituents aware. If you want to put money into the lead generation, you can place a Facebook Ad for as little as $5.

Lead magnets are a free and simple way to generate new clients. Don’t forget that if you want to generate leads through less conventional ways – from FSBO listings to 1031 exchanges – there are plenty of untapped sources out there. Plus, services like (yours truly) HouseHunt will garauntee lead minimums month-to-month.

Lead magnets don’t just get you the minimum info needed to qualify a lead; they also give you an advantage because you’re providing a resource that will make the stress of real estate a little easier for the prospect. You’ve already proven your knowledge and enthusiasm, so converting that lead will be easy!

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20 Infographics for Digital Marketing in Real Estate

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No matter what you’re looking to accomplish with your digital marketing strategy, we’ve got an infographic to help you along the way. Here are the best visual guides to online real estate we could find!

20 Infographics for Digital Marketing in Real Estate

Content Marketing

RealtorTube – The importance of video marketing on YouTube, and which videos are most successful.

Content Marketing in Real Estate – How to develop content that promotes your brand.

How to Get Your Blog Shared 1000 Times – Ensure success in content marketing with these tips.

Ebook Marketing – Show off your expertise by distributing an ebook, and reaping the benefits.

21 New Rules of Content Marketing – SEO is always changing; make sure your content can keep up.

Blog for Business – Why blogging is essential to any business, especially in real estate.

Science of Content Marketing – Use consumer data to drive more business to your site.

Making Great Graphics – An infographic about making infographics. Don’t overlook this form of content.

Ensure Success as a Blogger – A lot of facets go into a real estate blog. This graphic dissects all of them.

Search Engine Optimization

SEO Frequently Asked Questions – Helps you understand the basics of SEO for a boost in visibility.

New Media 4 Real Estate Agents – How to pick your SEO keywords.

Goldilocks SEO – Making sure your SEO strategy isn’t too hot or too cold.

New Face of SEO – Make your website user friendly and compatible with search engines!

Social Media

Real Estate Industry + Social Media Use – It’s exactly what it sounds like…

Social Media Happy Hour – Generate leads from social media in just an hour a day.

Has#tags – How hashtags can boost visibility on various social media platforms.

Lead Generation & Conversion

How to Sell a Home Online – This shows how to promote and move real estate on the Internet.

Looking at a Home Online v In Person – Understand the pros and cons of digital marketing for clients.

10 Tips to Sell Properties Online – Cover the basics with this colorful visual guide.

Offline vs Online Leads – There are pros and cons to converting each lead, based on where it’s from.


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Relocation Package [Infographic]

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You’d be shocked by how many real estate agents don’t have a relocation package on hand. This packet is a great way to assist your clients/prospects AND set yourself apart as an authoritative agent.

Relocation-Packets

 

Definition

A relocation package (or relocation packet) is a collection of information and resources for the transition of a move to a new area, supplied to clients and prospects by a real estate agent.

Purpose

  • Introduce the home buyer to the area based on their interests and passions.
  • Demonstrate knowledge of the area and expertise in your field.
  • Set apart yourself as an agent who goes the extra mile to assist clients, and who knows the community well.

Snail Mail

Although snail mail can feel like a hassle, this a great way to set yourself apart as an agent. That personal touch goes a long way! Here’s what to include –

  • School information from the district
  • A visitor guide to the community from a place like AAA
  • Demographics on the city from USA.com, or a similar service
  • Retirement community brochures
  • Your own business card
  • A personal note and some personal photos (even Polaroids) will go a LONG way in client loyalty!

E-Mail

Digital mail is the perfect way to get helpful resources to a prospect right away. Here’s what to include:

  • Digital Business Card
  • Pictures
  • Helpful Links:
    • Town History
    • School District info
    • Demographics
    • Attractions and recreation

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6 Keys To A Good Real Estate Agent and Loan Officer Relationship

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You may not be a big fan of loan officers in general. A lot of real estate agents view them as a necessary evil. You may get nagged with phone calls of originators wanting to work with you, they seem to under-deliver on promises, and they don’t seem to understand your timeline. However, a strong real estate agent and loan officer relationship makes a world of difference. Here’s what to look for in a loan officer to make your team unstoppable!

six keys loan officer real estate agent relationship

 

1. Don’t Just Check Experience. Check the Specifics.

 

A loan officer with experience is great. But more specifically, you want someone who offers products that you work with. If you encourage a lot of your clients to pursue 15-year mortgages, find a loan officer that makes that happen. Finding someone with a lot of jumbo loan experience may not usually be very much help to you, even though they’re great at what they do.

 

2. Be Realistic

 

Not every loan officer can produce every kind of mortgage. Cultivate an atmosphere of honesty and transparency so that you don’t waste your time waiting on something that isn’t going to come through. You can have a really good loan officer who just isn’t a good fit for every kind of client.

 

3. Communicate

It should be obvious, but a loan originator can’t read your mind.  Be clear about the deadlines and expectations you have set. Encourage open dialogue so there is no disappointment down the road.

4. Seek Knowledge First

A lot of loan officers take the approach of flattery to win over agents’ business. They try to sell themselves to you. What they don’t realize is that you’re in the business of personal branding and customer service. You can’t simply be won over! You should look for information and presentation. The most knowledgeable officers trump the most personable.

 

5. Remember They Need Your Business More

You may always need originators, but you don’t have to pine after their business desperately. Their constant attempts to reach out to you may get old fast, but it should also serve as a reminder that you always have options. There’s never a reason to bend over backwards for a loan officer who is ill-prepared, untimely, or generally unprofessional.

 

6. Remember It Is Not Personal

There are some agents that work exclusively with a loan officer they know they can trust. That’s fine if you have the pipeline and experience to make that work. But remember, it’s nothing personal if an agent doesn’t want to work with your loan officer. Let the buyer know the benefits of your network, but know that you get your commission check regardless. Plus, now you know exactly how to screen the other officers right off the bat!

 


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