lead management

RE/MAX Mumbai Gujarat Maharashtra

Lead Management


Two Most important words in REB:Follow up.Sales are mostly closed with follow

up, not lead generation How much lead generation you

should do?Only till the extent you can follow

each of the leads properly. Remember: the faster the client is

responded to, the more trust he has on the service.


Lead Sources

Leads

Walk Ins

In/ Outbound Calls

SMS

Social Media

Email

In a Party


How to manage 6 sources of leads?Make one single repository for all

leads Can be in excel or any database Ensure it cannot be easily

deleted by making protected fields

Best leads can be managed by using iConnect as it is made as per RE/MAX hierarchy


How to manage 6 sources of leads?Capture all leads: A lot of phone

leads are lost. Ensure the following at your office:◦The phone call is attended in 2 rings ◦All the details are noted down (keep

a notepad near phone)◦Proper questions are asked and

limited information is given


Lead AllocationLead

s

Admin

B O

B A


Lead allocation:All leads in the office should be

allocated according to a policy Give according to geographical

focus of the BA Commercial and residential

specialisation should be also considered

BA should have skin in the game If a BA does not follow up on

leads, then they should not be allocated leads.


Lead allocation:Research shows that if 20% of

the particular leads source are below quality the salesperson ignores all leads from that source

So if you tap only bad quality leads, eventually there will be no motivation to follow up

As discussed in last session: have multiple lead generation sources.


Lead Life cycle

First contact

Understanding

requirement

QualifyProviding required

info

Rapport building

Closing the deal

Can take from One day to few months…


How much is each lead worth?

100 inquiries

30 qualified

10 near signing

1 signed

Commission earned of Rs. 1,00,000/- so each lead is worth Rs. 1,000/-


Time management:You need to work with active

buyers / sellers in first priority Their requirement should be

satisfied in top priorityRemaining inquiries should be

put in low priority but should be kept in touch as we discuss further…


3 Rules:The rule of 45 : 45% of all leads

turn in to a sale for someoneGreat salespeople follow up

every sales lead until the prospect buys or dies

The older the sales lead, the less the competition


Facts:50% of sales leads are not

followed up in first 15 days of lead generation of the lead

80% of sales leads are not followed up after 1 to 2 month of generation

Most lead close after 6 – 12 months of generation


Checklist for follow upFocus on strengthening

relationshipCentre of conversation should be

customer, do not be ME centred Make a simple system which the

office followsThe end result of lead follow up

should be an appointment


3 B s of follow up:Be prepared and organised:

When you say you will call “day after tomorrow” call exactly on that day. Trust building starts here and now.

Be persistent: Keep on trying till prospect gives appointment

Be patient: Remember the life cycle of the lead can be 1 year. Be patient till then.


Step 1: Qualify, Qualify, Qualify:Are you prospect

Or

Suspect?


Step 1: Qualify, Qualify, Qualify:To be Customer centric, get used

to asking a lot of questions. These questions should help you

judge the seriousness of the customer

Budget, need, requirement, time table, identification, etc.

This will help you to know how much aggressive follow up you need to do.


Step 2: Response Kit:So the day you get the postal

address and all information about the customer, send a response kit

It can be:◦Cover letter, thanking them for

inquiry◦Buyers guide / seller guide / a recent

update◦Office / agent profile


Step 3: F.O.R.D. to build rapport:F: FamilyO: OccupationR: Recreation D: DreamWhenever you meet you can refer

to these things before hand to make the prospect feel important:◦How’s your son exams go? (when you

know his son was to appear in board exams)


Step 4: Flood with information:Send a lot of information, mostly over

email. Make a office newsletter and send to

all the prospect database, with information on:◦Just listed◦Just sold◦New agent joining ◦Any new development in area of

specialisation ◦General real estate rules


Step 4: Flood with information:Send various reports, which you

can make on trends of market Each prospect has to be

impressed that you know more about real estate than the 99 other agents they contacted, combined.

The probability that a customer will follow your advise increases when they know you know a lot


Step 4: Flood with information:Make 8 week direct mailer plan:

◦1st Week: Response kit◦2nd Week: Buyer guide / Seller Guide ◦3rd Week: Just listed postcard ◦4th Week: Market report ◦5th Week: Customer Testimonials◦6th Week: Just sold postcard◦7th Week: City Guide ◦8th Week: Income tax tips / home

loan tips


Step 5: Phone callDedicate 1 hour for phone calls

everyday98% of appointments are

generated over phone callMost people avoid picking up

unknown numbers, so try again. Then try with a different number.

Calls can be simple “how are you” or following up with some information they need


Use iConnect:To add all contact details of

prospectsRecord activities on their listings Ensure that a database is handy

for mass emails, personal notes and sending response kits.


Lead Audit


Lead Audit :Check all the leads which have been

recorded and see whether they have been followed up with every month.

Systems fail, unless checked and rechecked.

Try to incorporate improvements based on past experiences.

Do not assume that everything is going normal unless you have evidence to that fact


Lead Audit :Things to be checked in an audit:

◦All leads generated in an audit are recorded

◦All recorded leads have proper information

◦All recorded leads have been allocated in proper manner

◦All allocated leads are followed up◦According to office policy the follow up

process is going on ◦Lead source is cost effective


Lead Audit:Purpose:

◦Check any lead leakage ◦Measure performance of Lead source ◦Measure performance of follow up

systems◦Track BA performance ◦Improvise trainings ◦Review office strategy


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lead management

Real Estate