Real estate experts suggest prospecting daily so that your sales pipeline never runs dry. But sometimes all that effort doesn’t translate into results. If your prospects aren’t becoming clients, there’s a reason, which is better than it sounds because that means you can fix the problem.
You’re Too Slow
The Association of Real Estate License Law Officials estimates that there are about 2 million active real estate licensees in the United States alone. Of course, not all these individuals are working in the same markets. Nonetheless, that means that realtors face a lot of competition. If you are slow to respond to messages from prospective clients, someone else is sure to beat you to it. As a rule of thumb, it’s best to return calls and emails within 24 hours.
If you’re too busy working with active clients to return the phone calls and emails of prospective clients, consider hiring a real estate assistant who can help take administrative or marketing tasks off your plate.
They Don’t Trust You
There are different reasons why a client might not trust you, some of which overlap with others on this list. When a client asks you a question, do you answer it directly or do you sidestep it? Do you have testimonials and reviews from happy clients publicly available? Do you have an online presence? Social proof of your skills and knowledge is key.
You Don’t Seem Knowledgeable Enough
Is your client constantly coming to you with new listings or marketing ideas rather than the other way around? Do they mention real estate and finance terms you’ve never heard of or ask you questions you’ve never thought to ask yourself? Every agent starts somewhere, but if this seems to be a pattern, it’s one clients will pick up on too.
Your clients want to know that you will add value to their home buying or selling experience, and part of that value is your expertise and passion.
You Have No Web Presence
It’s not enough to be on Zillow or have a Facebook page. There are clients who don’t use these platforms, and at the end of the day, you don’t own the content or your access to it. Both platforms could suddenly go out of business and any following you’ve gained could be lost.
It doesn’t cost much to create and maintain a website today. If customization matters little to you, sometimes you can even get up and running for free. At the very least, it’s a good idea to invest in a domain name because yourwebsite.wordpress.com looks a lot less professional than yourwebsite.com.
You Don’t Seem to Care
When clients don’t think you care, it usually means they don’t feel like you are listening. You may have systems, processes, and a proven marketing strategy. You may like to get right down to business, but to your client, this isn’t just business—it’s their life and their family’s livelihood.
When your client tells you what’s important to them, they want to make sure that you really hear them. Make sure your body language conveys that. Slow down. Shut your office door. Make eye contact, nod your head, and pause before you speak so that they understand that you’ve put thought into your words—that they aren’t simply lines from a script.
You Use Too Much Jargon
Remember that your clients don’t speak real estate. At most, they might buy or sell a home once every few years. They hired you to be their advocate and may even expect you to be a bit of a teacher too. Use layman’s terms so that your client fully understands how the two of you will work together.
Your Target Audience Is Everyone
Your clients are home buyers and sellers, yes, but who is your ideal client? Some specialties you might consider are college students and recent graduates, working professionals, military families, seniors, CEOs, or other high-profile clients.
As a newer agent, your target audience might be anyone who will hire you, but over time, you might find that you click more with certain clients, that their lifestyle is similar to yours, or that their goals align with your mission. Whatever the reason, marketing your business to this “ideal client” rather than every potential client will make selling your services easier.
Remember: It’s within your power to alleviate your client’s concerns, but understanding why your prospects aren’t turning into clients is a good start.