Lifestyle search and lead incubation
Letter to the Editor
By Inman News, Wednesday, February 3, 2010.Re: 'Lag in digital marketing' (Feb. 1)
Dear Editor:
Real estate companies continue to avoid Internet marketing because sales associates do not achieve a profitable conversion rate on Internet leads. Associates trained in the traditional real estate sales methodologies do not know how to develop relationships with Internet buyers. The typical buyer from the Net is not ready to talk to a Realtor. They are not ready to buy. This person must be incubated until they are ready. The sales associate must capture the buyer with freely provided information without the expectation of an immediate response from the buyer.
While many companies are providing access to the (multiple listing service) listings, the successful companies have expanded their free information services to include lifestyle searches (that allow users to view) which neighborhoods provide the best access to resources for their family's lifestyle.
Branding must move from "We are the best" to "We provide more information, more help," followed by "Find your next home and find your ideal neighborhood."
Glenn Weilbacher
President
GAW Associates Inc.
St. Augustine, Fla.
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Submitted by Samuel Henshaw on February 24, 2010 - 9:34am.
I've always classed these kinds of leads as 'future interests' They require a bit more effort initially than someone walking in off the street, but often have a higher eventual conversion rate if kept sweet with (as you rightly say) helpful information and support throughout the process, until they're ready to buy.
I find that if I provide added value at the start *for free* so to speak, online clients are loyal to me even if someone is offering a lower cost, as I've already built up trust by providing the help that they needed earlier in the process.