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Related Articles

How to Generate, Nurture and Close Like a Boss
Tuesday, January 19, 2022 at 11:00 AM PST Come along for a deep dive into real estate leads! We're covering the nitty gritty details of lead generation, lead conversion, and smart prospecting. Expert lead converter and top producer, Mahala Landin (Broker, The Rachel Kendall Team) joins Tim Male from the BoomTown team to share her top strategies for getting more out of your database. No opportunities left behind, no wasted lead gen dollars, no excuses! The how-tos you'll learn: How to generate higher quality leads How to work the lead funnel How to Smart Prospect How to leverage success metrics How to maximize your database for lead conversions Register
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How to Qualify Leads the Easy Way
Many times, new business owners start with a clear idea of what they want to offer the world -- and it's something that excites and uplifts them. As they think about the details, however, doubt creeps in -- and it shows itself the same way across all industries. "I can't turn away business," they start to think. "I have to appeal to everybody!" No matter how many books you read or business coaches you hear from, it can feel counterintuitive to be told to "niche down." Deciding on a small segment of the total customer base to focus on may seem like a scary commitment, one in which you're not sure the other side will "love you back." Yet, focusing your strategy allows you to do the same with your marketing, advertising, and other types of communication. And it's precisely that laser-focus that appeals to people. Because you get specific, they recognize you understand their problems. That draws them to you! This is especially crucial in real estate. In your first year as a real estate professional, you might feel like you're doing a little bit of everything. After all, there's so much to learn! Soon, you start to develop a better sense of which customers fit you best. Ideal customers should be easy and fun to work with so you can add value to their lives! On the other end of the scale, some customers will drain your energy and may leave you miserable. It's crucial to get those encounters out of the way in the first year — because your business is not "for everyone." It's for the right people with the right budget at the right time. Those are qualified leads, the ones more likely than anyone else to become customers, and they grow your business. Sad, but true: Unqualified leads don't add to your bottom line, no matter how many you get! How to Qualify Your Leads the Easy Way Ideally, you would be able to qualify your leads by collecting just a little bit more information each time you encounter them. You might get some details when they sign up for your email list, a few more when they register for an open house, and a little bit more when they schedule a call. By spacing out your "asks" naturally in encounters like these, you can learn a lot! And an all-in-one real estate solution makes it much easier. That's because your CRM can capture and analyze details any human would easily overlook. Making connections between all the thousands or even millions of data points available, an AI-driven app helps you turn "information" into "insight." Still, it's a wise idea to have a qualification framework in mind. A qualification framework is a system of expected data points you collect about each prospective customer. Prospects that give answers within a desirable range are well-qualified leads. Those whose answers are outside the norm may be poorly qualified or not qualified at all. In real estate, people are often trained to maintain every relationship they can — "you never know who'll become a customer!" With a qualification framework, you might still get caught by surprise now and again, but you will be able to develop informed expectations about every prospect in your funnel. When you know, you can focus your attention on leads most likely to be your future customers. Plus, you can do something that might otherwise feel unthinkable: Let go of unqualified leads! Referring them to someone who can meet their needs better does a service to them, you, and a colleague of your choice – and with a steady stream of truly qualified opportunities, it'll always feel good. A Simple Real Estate Lead Qualification Framework The BANT framework originates in business-to-business sales and adapts very well to real estate. For each prospect, ask these questions: Budget Does the prospect have a budget that matches the type of properties in the local area you typically deal with? If not, can you help by providing facts about mortgage qualification or new homebuyer programs? Authority Is the prospect "in charge" of the buying decision? If working with a couple, both should be consulted on everything. If a large family is moving, everyone's preferences and needs should be taken into account. Necessity Does the prospect "need" to move now? If not, what would increase the sense of urgency? If so, what roadblocks are standing in the way — succinctly, why hasn't the person taken action? How can you help? Timing Is the prospect planning to move now, next week, next month, next year? Get a sense of projected timing and any contingencies. Entice long-term "waiters" who are well-qualified onto your email list. Discover how digital marketing automation can help you qualify leads faster and better. RE Technology readers can try DeltaNET 6 free for 30 days. To view the original article, visit the Delta Media Group
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5 Reasons Leads Are Choosing a Different Agent
Today's red-hot residential real estate market has agents competing for leads more aggressively than ever before. Not only is inventory low and demand high, but right now there are more real estate agents than homes for sale — another unforeseen byproduct of the pandemic, as more people decided to enter the industry to make a living. Simply put, competition is steep. Every interaction, every consultation, and every listing presentation counts if you want to expand your client list this year. Buyers and sellers are carefully scrutinizing the agents they interview to find just the right one. Even a small negative experience that might've been overlooked in the past may be reason enough for someone to pick another agent. Ensure you're the choice agent by avoiding these five missteps. 1. Your response time is too slow There are a number of factors at play here. First, with properties moving quickly in this market, buyers and sellers are looking for an agent who can act fast. To know whether that's you, leads are judging your response time. If a lead submits an inquiry and doesn't hear back from you for 5+ hours, they're going to think it'll always take you hours to respond to them. You can bet they'll start contacting others, and they'll select the agent who responds quickest. A fast, less-than-an-hour response is a high expectation, but it's the expectation nonetheless, and that's because of the world we live in. The speed of digital transactions has made us all accustomed to lightning-fast service. Finally, not all leads will be ready to transaction right away. If you leave them waiting too long, their cold feet could catch up and convince them to delay buying or selling. Then you may not be able to get them on the line at all. However, had you replied quicker, it's possible you could've made them feel more comfortable in their initial decision to start the process. 2. Interactions have not met expectations No two clients are the same, but you can likely gauge their personalities — laidback, sensitive, nervous — and adjust your approach accordingly. Otherwise, they might instantly recognize that it's not a good fit and move on to someone else. Let's say you consider yourself a "shark" because you're not afraid to be assertive and a bit aggressive with your negotiation tactics. That plays well with some clients, but maybe other prospects need a more nurturing approach because they don't want to feel pushed into a deal. If you can sense the frustration, try to re-calibrate and ask clients what they are comfortable with. There's a delicate balance between making sure they are ready to move quickly in a hot market and making sure they feel heard along the way. Similarly, make sure you set expectations right off the bat for how intense the process might be. You don't want a potential buyer or seller to feel like their expectations weren't met because you didn't sit down with them and set the stage. If you think that either of these scenarios may describe you, ask your colleagues, past clients, and even lost leads if they would be willing to give you honest feedback. 3. You aren't easily found on Google Buying and selling a home are among the most important financial decisions we'll make. As such, you can bet that consumers will be researching any agent they are considering working with. Nowadays, that research starts on Google — the most-used search engine in the country. If a potential lead types in your name and can't find much about you on the first page of search results, what do you think their impression will be? Probably, "Is this agent still in business?" Or, "Is this agent any good?" Prospects will choose your competitors instead of you because they appear when leads search for them, providing instant credibility and trust. Make sure you are easily found on Google by maintaining SEO on your real estate website, updating your Google business profile regularly, and taking out ads that are featured prominently at the top of the search results page, like Google's Local Services Ads. 4. Leads forgot about you How are you ensuring that you stay top of mind after acquiring new leads? As we mentioned earlier, not everyone will be ready to transact right away. Some might get cold feet, while others just need to sort out some details before jumping in. Either way, you need to stay visible so that leads get back in touch with you when they do become ready to buy or sell. Here are a few ways to stay top of mind: Add new leads to your digital ads' custom audience list so your ads are served to them whenever possible. Include leads in your regular emails, such as e-newsletters and local market reports. Check in with a personal text or email to ask if you can answer questions or help with next steps. 5. You didn't prove your expertise Consider the elevator pitch you give when you first connect with new leads. Do you exude confidence, effectively communicate your real estate expertise, and help leads understand how you outshine competitors? If not, all it will take is a convincing conversation with another agent — or even an intriguing advertisement — to change someone's mind. Don't take personal referrals for granted, either. Just because a former client or mutual connection made an introduction doesn't mean that lead has committed to working with you. Prove your expertise when you speak to them, be easy to find on Google when they search for your name, and take the necessary steps to stay top of mind if they aren't ready to transact. To view the original article, visit the Homesnap
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