The #1 Reason You Are Losing Real Estate Business and What You Can Do About It Now

Achieving and maintaining success as a real estate agent is not easy. The agents that reach the pinnacle of their markets are the ones that not only generate new leads, but have a high conversion rate from lead to client. Too many agents do not understand what it takes to make this a reality and wind up losing potential business when they could be growing theirs instead. It all comes down to having the right digital tools in your real estate web system.

What is the #1 reason real estate agents lose out on business? It’s all in the follow up.

Effective follow up requires consistency above all else. To consistently be available, provide value, and stay top of mind and relevant with your entire pipeline can be intensely time consuming if you follow the old school approach and are not equipped with the right tools.

Ultimately, real estate is all about relationships - and it has been for as long as property has been traded. Cultivating relationships today, however, looks different in many ways than it has in the past. These days, so much of what we do, including transacting real estate and moving through a sales cycle, takes place online. If you want to compete, you need to be able to generate online leads, nurture them through the sales cycle, and convert real estate website visitors into clients. Effective follow up is what builds the relationship that turns a website user into a real estate client.

Real estate agents lose business, however, because they do not have a system in place to be able to efficiently manage follow up. They do not reach out immediately to new website visitors. They do not send out listing recommendation emails consistently. They do not check in with leads in the middle of the sales cycle. Far too many agents wait until they believe a lead is ready to move immediately to reach out and follow up - but by this time it is usually too late. The largest driving factor in this is typically the amount of time that this takes. Most agents would rather invest their time in a hot lead than a cold one.

The truth of the matter is that the vast majority of people searching your website are not ready to buy right away - but that does not mean that they will not be ready in the coming days, weeks, or months. Nurturing the lead all the way through the sales cycle will increase your chances of converting them into a viable client.

Leads who register on your real estate website are much more likely to turn to you when they are ready to buy or list if they feel invested in a mutual relationship because you have consistently been in contact providing valuable, relevant resources throughout the initial phases of their real estate journey. However, they will only be as invested in you as you have been in them.

The best way to provide the kind of personal and consistent lead follow up that you need in order to boost your conversion rates and not lose out on potential business is to turn to artificial intelligence.

Modern website systems with the latest technology should give you the tools you need to almost completely automate your lead nurture and follow up. Everything from personalized welcome messages to buyer reports can be auto-generated on your behalf. Price changes on listings can be tracked by Ai with automatic triggers for notifying website users. Cutting edge systems can even communicate using pre-designed scripts to incubate and qualify leads before you ever have to make a phone call or type an email or text message.

Easily one of the most powerful forms of follow up for enhancing conversion rates is sending out auto-generated customized listing recommendation emails. Buyers want to see listings, period. The more listings you put in front of potential buyers, the greater your chances of finding a match for them that could result in a successful transaction for you. The main caveat here is that the listings must be relevant for each unique user. Artificial intelligence systems can track user behaviors to expand buyer profiles and automatically incorporate changing patterns of behavior into listing recommendation emails for you and send messages on your behalf. All of this can go on in the background, nurturing newer leads for you, while you spend your time working late stage sales clients. Once these leads are ready to buy or list, they have already received a wealth of resources and information from your system - making them more likely to buy or list with you!

Using artificial intelligence, previously one of the most time consuming aspects of becoming a successful real estate agent - lead follow up - can be nearly fully automated. This not only saves you an incredible amount of time to grow your business, but can also provide even better, more efficient service to each and every lead in your pipeline. 

Realty Net Media's web platform has been designed to utilize the latest artificial intelligence technology to not only save you time, but help you generate and convert more leads. Contact us today to find out more!