Lead Generation and lead management strategies for Brokers

Selling real estate is not the same as selling any other kind of goods. Because, after all, selling a high-ticket item requires a different type of approach than selling a low-ticket one. As a result, sales leads have a much higher monetary value in real estate than in any other industry.

Despite the fact that brokers in India’s real estate marketplaces are constantly focused on the lead, the topic of lead creation and lead management is not frequently addressed among brokers.

What Is The Difference Between Lead Creation And Lead Management?

Whereas lead generation is the technique for finding prospective buyers, lead management is the process of identifying high-quality leads and putting in the necessary effort to nurture them. The quality of lead creation and lead management determines the likelihood of a lead being converted into an actual sale.

Given the fact that real estate is often a one-time transaction for the majority of Indians, the follow-up element of lead management is not a major source of worry, either for developers or brokers. However, when a buyer chooses to acquire a second property, the follow-up lead management system may be able to reward sales channels with referral purchasers and, in certain instances, repeat buyers.

There are many conventional and new-age methods for generating sales leads available to businesses today. The following are the most frequent sources of lead in the environment:

1. Advertisements

In the Indian real estate industry, this old method of generating leads is still very popular among agents. There are many reasons for this, including the fact that the advertising is quickly followed by sales inquiries and a few transactions, which makes it simpler for the sales channel to calculate the marketing ROI. The sales channel just needs to handle the inquiries and ensure that they are followed upon.

2. Engagements With People On The Internet

An additional method for generating leads is via online interactions through different social media sites. In terms of cost-effectiveness, it is an excellent method of getting to know prospective customers. Brokers, on the other hand, find monitoring social media to be a time-consuming activity. It is also necessary to have a knowledge of the purchasing behavior of those looking to purchase a home. In the absence of this, these platforms also generate a large number of non-serious inquiries.

3. Data Mining And Analysis

Data analytics is the use of technology to monitor prospective customers via their internet searches, which is referred to as tracking. Through internet searches and phone monitoring, these data platforms are able to follow the search preferences of potential customers. It is then followed up with highly targeted messaging and/or advertising that drives conversions to the desired outcome. It is a new marketing channel in India, and it is still in its early stages. But if property brokers learn to utilize data analytics, it has the potential to be a very profitable lead generating and management business.

4. Referrals

Referrals, often known as peer-to-peer marketing, are a proven and established method of generating leads that generate significant returns on investment. Referrals may come from a previous buyer, investors, or from the broker’s word-of-mouth marketing campaign. This is the most effective sales activity in terms of lead quality, and real estate agents who have built a reputation in a community understand the significance of this exercise.

5. Walk-in inquiries

This is by far the most effective. It is completely free, increases the likelihood of a sale conversion, and serves as a signal that you have a serious customer on your hands. Lead management, on the other hand, is still essential in this situation. A real estate agent who is unwilling to follow up on a lead will never be able to make the most of it.

6. Video marketing

Due to the abundance of free social media channels available today, including YouTube, video marketing of the project and/or the location may be an effective method of generating leads. For example, 3D virtual tours of a house are quickly gaining popularity among consumers. However, due to the fact that the real estate brokerage industry in India is highly unorganized, this medium has not been used to its fullest potential.

Blogs are arguably the most effective marketing medium for generating leads. A blog that can weave the narrative of a project, its USPs, the lifestyle it provides, and other similar consumer contact points may connect effectively with today’s consumers, who are not only aware of their choices and worries but are also well-informed about those choices and issues.

Conclusion

While many of the techniques listed above may be used to generate leads in an environment where data is freely accessible to everyone, the distinction will be in how a real estate agent can improve his lead management skills to achieve higher sales conversions.

Disclaimer: The views expressed above are for informational purposes only based on industry reports and related news stories. PropertyPistol does not guarantee the accuracy, completeness, or reliability of the information and shall not be held responsible for any action taken based on the published information.