4 ways in which real estate brokers can revive dead leads

Real estate is unlike many other businesses, because of the sheer size of the investment involved in the transaction. This is why real estate brokers would often see only one of their 20 sales calls progressing in the right direction. Almost 19 out of 20 times, they may be told that their services are not required. However, this also indicates that these 19 people who you have been in touch with, have the potential to be your prospective clients. If you followed up effectively, you may be able to help them change their mind about the sale/purchase.

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Considering business activity has been muted because of the prevailing Coronavirus conditions, this could be the apt time for realtors to engage in reviving dead leads. However, reconnecting with your old leads should be done in a careful manner.

Cash-in on the festive season

Festive seasons provide you with a valid opportunity to get in touch with your old clients. Sending your good wishes on such occasions, is one of the best marketing tools available to businesses. This gives brokers an opportunity to approach prospective clients, to gauge whether they have changed their decision and are looking to invest in property again. As the roughly four-month-long festive season in India is already underway, this is the right time to start getting in touch with your old leads.

Use various subtle means of communication

Nobody likes receiving cold calls, even when they might actively be looking for a product of service. Buyers are more likely to take you seriously if they are the ones approaching you, rather than it being the other way around. Nevertheless, other subtle mediums can be used to revive your dead leads. Considering that most people have a LinkedIn, Twitter, or Facebook accounts these days, they might pay close attention to a direct message you send to your old leads. This holds true of SMS and email campaigns, as well. Such subtle tools should be made an integral part of your overall marketing strategy, to increase engagement.

Share information with prospective clients

Another way to gently persuade a prospective client is to share with them a piece of information that would make a positive effect on their purchase decision. Let us consider an example. Suppose you are operating in the Mumbai market. Since September 1, 2020, the Maharashtra government has decided to reduce stamp duty on property purchases to 2% from the existing 5%. This news could be converted into a blog and shared with all prospective clients in the key markets of the state, including Mumbai, considering that the lower stamp duty rates could prompt the buyer to make a decision now. Content creation should become an integral part of your long-term marketing strategy even otherwise. By way of sharing news, informative pieces and expert opinion, you are basically assisting your buyer to make an informed decision.

Inform them about new services or features

Rather than directly prodding them about their purchase decisions, you could also inform them about new services that you offer. In your online communications, mention any new feature or service that you may have recently launched. Someone who is not interested in buying as yet, may be interested in taking your help in renting a new accommodation using your newly launched services. Someone who is having problems in rent payments, because of the Coronavirus induced conditions may use your virtual Pay Rent facility to do the needful.

FAQs

What is a dead lead?

A dead lead is a prospective client who may not be interested in availing of your services to, say, buy a property.

How do real estate agents get leads?

Real estate agents can generate leads through networks in their business, through referrals, by listing their properties on portals like Housing.com and through various communication channels.

How do you reach out to leads?

Brokers can reach out to leads through telephone calls, emails, various messaging services, social media, etc.

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Sunita Mishra

An alumna of the Indian Institute of Mass Communication, Dhenkanal, Sunita Mishra brings over 16 years of expertise to the fields of legal matters, financial insights, and property market trends. Recognised for her ability to elucidate complex topics, her articles serve as a go-to resource for home buyers navigating intricate subjects. Through her extensive career, she has been associated with esteemed organisations like the Financial Express, Hindustan Times, Network18, All India Radio, and Business Standard.

In addition to her professional accomplishments, Sunita holds an MA degree in Sanskrit, with a specialisation in Indian Philosophy, from Delhi University. Outside of her work schedule, she likes to unwind by practising Yoga, and pursues her passion for travel.
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