The market shift is simple, as the seller’s market, most of the industries have balanced for the last decade. As prices have weakened shortly or deals have been cut short, buyers have learned to wait for the next product.
The result is a growing lead database with a more extended nurture period. As buyers wait for the right time and deal, the seller should build more effective lead management strategies to persuade and advice.
The 5-minute goal has been preached a lot for engaging new leads and the premise to catch the buyer while they are actively looking for a product suits the real estate arena. The best time to reveal a deal in the market is when the buyer shops around and waits for the right deal to appear. A good real estate deal sparks competition among buyers. The primary key to success is updating the client with the new deals. CRM regularly sends out e-Alerts, so that buyers can see any new properties or changes in home prices instantly. These kinds of 'good deals' will motivate buyers to act immediately without pushing them.
A lead database has a broad gamut that can range from a couple of hundred prospects to several thousand and keeping track of everyone is a herculean task. Using CRM, sellers can organize data, and segment leads into lists, tags, and categories. Tagging and making a list of leads that are pre-approved or making cash offers allows property agents to keep a priority list. In case the leads aren't approved, the list helps in coaching those clients into talking with a mortgage lender and covering a crucial first step to buying real estate.
Prioritizing is the key to run good business. Transforming database into workable lists allows the seller to focus and prioritize business. Efficiency and time have a price tag. Working smarter is essential, rather than working harder as more buyer leads play the waiting game and as return-on-investment stretches over a more extended period. At the end of the day, making a mark on the market is essential.