How to Re-engage Cold Real Estate Seller Leads
By Matthew Bushery
About Agent Basics
Not every real estate seller lead pans out. This is something seasoned agents know well, but few beginner real estate agents realize. Some seller leads want to get started right away, but some just arenâ€™t ready. Others seem interested in your services, then fall silent. Whatever the reason, youâ€™ll see a fair amount of real estate leads fall by the wayside â€” at least for now. Just because they ended up on your cold leads list, however, doesnâ€™t mean you should give up on them.
Even ifÂ your real estate lead generation efforts are very efficient, it’s always good to check in on old leads that never became clients. Below, we outline the best ways to re-engage with cold home seller leads so you can determine whether they are still worth pursuing or can be officially deleted from your contacts database.
Separate new real estate seller leads from older ones.
The first step is to segment new leads and those you know are worth nurturing from those that are older in your customer relationship management (CRM) database. Each agent likely has their own definition of â€śqualified,â€ť but from an online marketing perspective, qualified leads are those who have:
- Visited your site at least a few times
- Consumed blog posts and other content
- Signed up to receive email from you
- Asked questions about your services
If you donâ€™t have a concrete definition for a qualified lead, youâ€™ll need to create one so you know how to sort your contacts accordingly and avoid an unorganized mess of leads that you can hardly differentiate from one another.
Determine why each cold real estate lead never panned out.
Once youâ€™ve identified leads from your past that never worked out, figure out why that happened. Did they just stop engaging with your real estate marketing (e.g. email newsletters, social media, website) or sales efforts (like phone calls and individual emails)? Did they indicate they simply werenâ€™t ready to list their home? Did they want to research the market of listings before selling? Finding out what caused them to change from a potentially good lead to one on the back burner will help you determine which are worth re-engaging with once again.
Itâ€™s important to realize that once-motivated seller leads may also have gone cold due to something you did (or didnâ€™t do) with your marketing or sales efforts. Perhaps you were too overt with your sales pitch, or maybe you sent too many promotional emails to them. Or, perhaps you werenâ€™t using the right channels to engage with and nurture them. For instance, certain leads may prefer communicating casually via Facebook and Twitter rather than exchange lengthy responses through email.
Create a plan of action to engage with older leads.
When it comes to re-engaging older leads, there likely wonâ€™t be a single, exact strategy you use every time. Each lead is unique, so each requires a different touch.
Letâ€™s say you have a lead you engaged with regularly via email after they reached out to learn more about your sales history and knowledge of the local market. Then, one day, they simply stopped responding. This lead is an optimal one to email once again to see if theyâ€™re still looking to sell. Since they were curious about your local real estate market knowledge, include recent local home sales, prices, and value statistics, and explain what the data means for sellers in the community. This positions you as an agent whoâ€™s a thought leader that knows the current state of that market.
Take the time to determine re-engagement strategies for each lead you deem worthy of pursuing again. Whether you pursue five old leads or 50 is entirely up to you. The important thing is that you map out a comprehensive plan of action for every one of these real estate seller leads â€” including what mediums to use to contact them, how often youâ€™ll contact them, and what messages youâ€™ll send them â€” so you can prioritize which to go after first and which can wait to be nurtured again.
Test different outreach efforts to see which work best.
The first coldÂ seller leads you reach out to will serve as experiments so you can discover if your specific plans of action worked. If you intend to contact one lead whom you only conversed with via email, you may try by phone this time with plenty of talking points to discuss with them. If some of those talking points donâ€™t work as youâ€™d hoped, then you can avoid bringing them up with other leads. Conversely, if some worked extremely well, it may be wise to bring them up with other prospects.
Think of it as A/B testing: Just as you play around with different forms on your real estate website, adjust your landing page copy, and try new content for your blog, trying new re-engagement tactics for seemingly cold leads will help you improve your tactics and revive more idle leads.
If at first you donâ€™t succeed, try, try again.
Donâ€™t fret if your tactics donâ€™t work the first, second, or even third time around. As mentioned, some of your cold real estate agent seller leads simply arenâ€™t ready to list their homes. This means you need to stagger your outreach.
A prime example: If you send a particular lead an email and they reply back saying theyâ€™re still on the fence, just let them know youâ€™ll check in with them in a few months (or whenever they say they may end up listing their property).
Play the long game with those older leads that could still pay off down the line â€” even if that means they may not sell for years, theyâ€™re still worth keeping an eye on and checking in with on a regular basis to stay top-of-mind and show them youâ€™d provide dedicated representation.
In your quest to revive cold leads, youâ€™ll undoubtedly find that some still wonâ€™t work. These are the ones you can officially stop worrying about. Having said that, youâ€™ll likely also identify ones that have newfound value. This makes it vital to find out how your past clients felt about your marketing and sales tactics to learn if thereâ€™s any room for adjustments. Feedback is never a bad thing, so see what you can change with your real estate marketing and sales strategy.
BONUS: Donâ€™t neglect your actual qualified seller leads.
The last thing you want to do is miss out on quality business opportunities with existing qualified leads because youâ€™re spending time with older prospects who may still not end up becoming qualified. Work on closing deals with those you know are far more likely to move down the sales funnel and provide you with substantial commissions. Itâ€™s during your down periods at work that you should go back in time, so to speak, and determine if you missed out on potential business from older contacts.
Ensure your website is a real estate lead generation machine with these 7 helpful tips.
Also, learn how to generate real estate leads online by checking out this Academy post.
How do you re-engage with older real estate seller leads? Share your tactics with us below!
Published on January 8, 2015
Written by Matthew Bushery
I'm the Sr. Content Creator for Placester, where I educate real estate professionals about modern marketing and, in turn, help agents and brokers make the most of their online presence, earn more traffic, and generate more leads and business.