If you're a Realtor, you're a lead nurturer. If you're a really good lead nurturer, you're hatching beautiful butterflies!
Have you ever seen a cocoon? My sister and I put a caterpillar in a jar when we were youngsters (It was a thing back then. Don't judge!). The caterpillar spun a cocoon, and when spring rolled around, something magical happened. The caterpillar-turned-cocoon transformed into a stunning yellow and black Swallowtail butterfly! Luckily my dad took a photo so we could remember it forever. Seeing the transformation was inspiring!
(I wasn’t going to dig through my father’s negatives from decades ago to find THE photo, so this stock photo will have to do. 😃)
Fast forward to today, as I work to help real estate agents with lead generation and nurturing. Nurturing real estate leads into clients can be as beautiful as seeing a colorful butterfly emerge from a cocoon -- the transformation is very satisfying and lucrative.
Agents dream of receiving only the best real estate leads, those who are pre-approved and ready to buy now. Unfortunately, that's unrealistic. Many leads start looking at homes online when they're in the preliminary stages of home buying, but they aren't close to being ready to buy a home. These leads may need to learn the average cost of homes in their area, the amount of money they need to save for a down payment, or what a mortgage entails. As agents, it's easy to forget that some leads need to learn more about the home-buying process, and it may take some time to nurture them into clients.
As an agent, you are in a great position to help these early-stage real estate leads by educating them on how they can improve their credit scores, where to get funding, and the latest programs designed to match the needs of modern-day buyers. These leads might start out as simple, brown caterpillars, but they turn into beautiful butterflies through nurturing.
Do you have a lead nurturing campaign geared toward real estate leads who need to learn more about the basics, like the average price of a home and what it takes to afford one? Keeping in touch with leads through a lead nurturing campaign puts your name and brand in front of potential clients, increasing your chances of them choosing you as their agent. Here are some real estate topics you can share with leads to educate them as they prepare to buy a home:
- How much can the lead afford, and what does the housing market offer in that price range? (If nothing matches their budget, provide steps to help them grow into a position where they can afford to purchase a home.)
- Improving your credit score (what is FICO?)
- Where to get funding (suggest how to find a lender or mortgage broker)
- $0 down payment loans
- Down payment options when they don't qualify for a $0 down payment loan
- How to get their down payment paid for and not have to pay it back (ex. HomeFundIt)
- How the market is changing and whether or not it's in their favor
- Loan options that require less than 20% down but include PMI
- Living with student loan payments and how that affects home buying and debt-to-income ratio
- Which loans do they qualify for with their credit score (share an infographic)
- Financial priorities: where to get financial counseling
- Why it's essential to understand the difference between must-have vs. want-to-have when looking at homes to purchase
Common questions from real estate leads wanting to buy a house are great lead-nurturing topics. You can answer questions in a blog article, but a video is the most effective and popular way to share information. Record a 30-second video about interest rates and then send video updates as rates change. A video is more entertaining than written words, shows your personality, and engages your leads. Share the video in text messages, emails, social media, and Youtube.
- Is now a good time to buy a house?
- What's happening with interest rates?
- Can I afford to fix up a dilapidated home?
- When I find a house to buy, will I have to compete against many home buyers?
It's time to stop making excuses and nurture ALL of your leads, not just those eligible to buy now. Develop a nurturing campaign to educate future home buyers and encourage them to pass the information on to their friends. This proactive nurturing may result in gaining more clients organically. When you've got real estate leads in front of you, work hard to nurture them and convert them into clients. If you don't do it, another agent will.