Converting leads into instructions

One of the best ways to increase the number of instructions you get, is to increase your conversion from lead to a won instruction.

We’ve pulled together our guide to making sure you get the best conversion rate possible.

1.    Focus on understanding the vendor’s needs

Make sure you focus on understanding the vendor’s priorities in selling:

·      Is there a specific timescale they need to sell by? Are they testing the marketing but don’t need to sell?

·      Is there a specific price they are hoping to achieve? If yes, why that price? Is it because they need that price to get the property they’ve fallen in love with – if so, there could be flexibility if the other property owners can be flexible, or is it to cover what they bought it for plus stamp duty?

·      Which is more important to them? A quick sale or price?

·      Are they focused more on the service you give them or the price you charge? What do they expect from you and how would they like to be communicated with? Do they want weekly update calls or just news when there is a viewing?

·      Are they looking for a property to buy and is that an area you can help them with too?

2.    Prepare properly

We’ve all heard the saying, ‘fail to prepare, prepare to fail’. Make sure that before you call your potential client you have looked at any notes on your system, so you don’t ask them questions they’ve already answered or a colleague has already asked them and that you’ve properly prepared for a valuation appointment.

·      Take a look at their property online before you visit or call – what did it sell for last time? Has any work been done since?

·      Research other sales – what has sold recently that is a similar property? What has been reduced in price? What is currently on the market?

·      Research the local area – are there any new developments happening in the area that might impact the price? Are the local schools good?

·      Think about your experience – what have you or your company listed or sold recently that might be similar to their property?

Positioning yourself as a knowledgeable, local expert who understands the local market will help you win their business.

3.    Get the basics right

It might sound simple, but little things add up to make a big difference. Make sure as a minimum you are doing the folllowing:

·      Ask questions and listen (remember you have two ears and only one mouth).

·      Research the property and area before you turn up to do an appointment.

·      Send a reminder or reconfirm the valuation appointment two days beforehand.

·      Turn up on time.

·      Make sure you are smartly dressed and look presentable.

·      Take your shoes off when you enter the house.

·      Ensure you have all the relevant information easily accessible and have done your research.

·      Compliment the house or any work they have done on it and point out positives.

·      Promptly provide any additional information you said you would.

·      Follow up when you said you would.

·      Call when you say you will.

·      Ask them how they would like to be communicated with and how often.

·      Be clear on things like pricing and what is or isn’t included in your service and any add-on costs.

4.    Nurture your leads

Don’t assume that because a lead doesn’t convert immediately that it is a bad-quality lead. Instant valuation leads for instance often take four to six months to come to market, so make sure you start building a relationship with a potential client as soon as they are a lead.

You might want to consider launching a nurture email program that is automated to send them content every couple of weeks – just make sure that it is GDPR compliant.

You can nurture a lead by:

·      Providing helpful marketing update information, for instance, if there is an increase or decrease in local prices from one month to the next.

·      Providing helpful moving information such as a booklet that tells them how to prepare their home for sale or the necessary documents to sell.

·      Helping find the client a property if they are looking to buy too – send them details of any that might be of interest – this will also make them think you will be this proactive with their house.

·      Meeting them face to face to give them a valuation and advise on any work they might do before selling – you can use this as an opportunity to build rapport with them.

5.    Be clear on your offering

Giving a customer too much choice can be overwhelming for them and make them feel that they don’t know what to pick.

Present a clear suggested strategy for marketing their property, a clear pricing guide and a clear fee for your service. Rather than discounting your fee which can make it seem like you don’t have faith in your service, highlight what it includes and how you excel in customer service, or any upgrades like Premium listings. You could, instead of discounting, consider offering an extended cooling-off period?

6.    Previous happy customers

Use previous happy customers as case studies to win new business. Have you got any testimonials from people in similar situations that you can share? Or any case studies where you sold a property for much more than the asking price? Have you any customers who are great ambassadors for you who would be happy to talk to a potential vendor about their experience of you as an estate agent? Having someone confident enough in their product that they are happy for you to talk to a previous customer can be a huge confidence boost, and once offered it, many customers will no longer feel the need to take up the offer.

7.    Position yourself as a helpful advisor

Use your expertise to position yourself as a helpful advisor rather than a sales person.

·      Share helpful market knowledge and predictions with the potential client.

·      Provide advice on how they can best present their property for sale.

·      Provide helpful guides on the selling process.

·      If they are already listed with another agent, make helpful suggestions as to how they could improve their advert.

·      Give fair and accurate advice on pricing their property. If another agent has over or under-priced it, explain why they might have done it and give a rationale for why you think it is the price it is including examples of other recently sold properties.

8.    Value yourself

Think of all the people who you’ve sold houses for before. Imagine if they had picked an agent not as good as yourself – they might have sold at a lower price or not have sold at all. If you know you are offering a valuable service, don’t you owe it to the person that you would be helping to sell yourself as best you can?

9.    Focus on your current customers

It might sound strange, but one of the best ways to win more instructions and convert leads more effectively, is to focus on your current customers. If you provide your current customers with an exceptional customer service, they are more likely to recommend you or give you a great testimonial, which will help you to win other business. Also, the more properties you successfully sell, the more recently sold cards you can send out and the more you can talk about your success rates to new customers. As Michael LeBoeuf said, “A satisfied customer is the best business strategy of all.”

10. Offer a little extra

If you have a customer that you think is close but maybe on the fence, is there anything you can do to sway them? Ask them what their concerns are. If it is purely that your fee is higher than someone else’s, can you reduce it down or include a free premium listing for them or offer to host the viewings for them? If it is that you have valued the property lower than someone else, would you be happy to try it at a higher price initially? Can you share the property with your database or put some money behind it on Facebook initially to increase the number of people who see it? Try to think of things that you can do that your competitors might not be offering that will give you the winning edge.

If you are looking to generate more leads, why don't you take a look at our ultimate guide to lead generation?