Mistakes to Avoid with Your Hot Prospects

In the midst of your prospecting phone calls, marketing efforts, and referral seeking, what you're really hoping for is to connect with more motivated buyers and sellers, or what we call hot prospects. While it's good to be aware of what you're seeking, are you guilty of these common mistakes that many REALTORS® make when it comes to their best real estate leads?

All real estate agents know that curious neighbors will wander through open houses, and some people will request home appraisals without a real intention of selling. While you're trying to build relationships and gain contacts, what you're really after is serious prospects who are ready to make a move.

Here are four mistakes you should avoid with your real estate hot prospects:

1. Not identifying hot prospects accurately.

It can be easy to get excited about a new lead and set your heart on making them a client. But try to remember that you should be using some criteria to qualify who is a serious prospect and who is not. That way you can decide how to best allocate your time.

Genuine hot prospects are those people who have clearly indicated to you that they will likely buy or sell a home (or both) within the next six months and have a clear reason for doing so. They've expressed that they'd like to work with you specifically and not another Realtor. And they know some details about when, where, or why they want to buy or sell, and they know their price range.

So next time you get a new prospect, make sure you qualify them properly. You want to make sure you spend your time wisely when dealing with new leads.

2. Ignoring all other leads.

In a career as demanding as real estate, time management is key. When you qualify who is a true hot prospect, you're sure to have some "cooler" prospects on your hands too. Just because you know these leads aren't as motivated to buy or sell, doesn't mean you should ignore them! Remember, there is no true "no" in real estate, just a "not now." By forming good relationships with these cooler prospects, you're setting yourself up for future business and valuable referrals.

Don't make the mistake of discounting everyone who's not a hot lead. Add all of your leads to your real estate contact management software and assign them to a drip marketing campaign for their lead type. Drip email marketing is a wonderful way to stay in touch, since it sends relevant messages to your prospects, but requires minimal effort from you!

3. Not sending prospects the right message.

Once you've identified who your hot prospects are, it's time to make sure you're communicating with them in the most effective way possible. Drip email marketing is not "one size fits all," and if you want your messages to resonate with your prospects, you should send them content that is specific to them.

A two year lead nurturing prospecting plan is ideal to use with a contact who you believe will be purchasing a home within the next two years. It keeps you "top of mind" with a hot lead which increases the chance that they'll choose you as their Realtor when purchasing a home. The most effective drip email campaigns are complemented by timely phone calls.

4. Losing touch after the close.

Once the keys are handed over and your clients are settled into their dream home, you may feel like your work is done. Not so fast! Nurturing relationships with past clients is essential for securing repeat and referral business!

Sending monthly e-Newsletters, reaching out and wishing someone a happy birthday or congratulating them on a home anniversary are all powerful ways to stay top of mind.

The takeaway:

As a Realtor, you're constantly seeking hot prospects. Take care to identify them, stay in touch with relevant communications, and pay attention to your other leads who haven't warmed up yet.

To view the original article, visit the IXACT Contact blog.