Luxury real estate market trends, developments and marketing.

Responding to Leads in Real Estate

Since the start of the New Year, I have been extremely busy with my real estate business.

I have 3 highly branded real estate websites that have been producing lead after lead after lead. Last week in fact, I got 4 leads in one day just from one of my websites!

Ninety-five percent of these leads are from people looking to relocate to Nevada. Most are looking to escape California’s brutal taxes that were passed in 2012.

Real Estate on the Internet

One thing that amazes me about these real estate leads, is that most are coming from one of my 3 websites… not the phone!

Now, I have a specific internet marketing plan for my real estate business, so the leads I get are not a surprise. I expect to get leads.

What is surprising is the level of detail and expertise these leads already have.

Viewing Real Estate Properties Quickly

The majority of my leads have already done their homework. Most already know what houses they want to see, what area of town they want to live in, and so much more. Some even know they want to hire a Reno custom home builder.

The internet allows people to look at homes, neighborhoods, pricing, floorplans, and so on, from the comfort of their home or office. Because of this, most people do not shop for luxury real estate properties blind.

They are ready for a physical tour. And, some prospects are ready to buy… now!

Fast Response is Key Getting Real Estate Clients

When I first started out in real estate, I would wait a day before responding to a lead. In my mind I thought:

If I wait a day before calling, maybe they will think I’m super busy and that I don’t really need their business. That will make my even more desirable!

I realize now what a huge mistake that was.

Remember what I said before about prospects doing their homework before they contact you?

What this means for you as a real estate agent is that you need to lock-in this client before they go elsewhere. You need to contact this client within one hour of getting the lead. One hour!

Email or Phone

This part is tricky. Do you email the lead… or, do you call the lead?

On my contact forms, in addition to asking people what real estate they are interested in: Montreux homes, South Reno Homes, Arrowcreek Homes, and so on—I always give people the option of how they would like to be contacted: Email or Phone?

The responses I get are around 70 to 30 (email to phone).

Now, that’s sort-of what I expect. Most people choose to be contacted via email, and that’s fine. For some agents that do better on the phone, don’t worry, there’s a way around the “email only” problem.

Initial Conversations

The first talk with a new client is always a little nerve-racking. I haven’t met them, they haven’t met me… it’s not always easy to know what to expect. Thankfully, I’ve figured out a system that I use that makes talking to new (and current) clients easy and enjoyable.

When I email a new lead, I make it very simple and always include the following:

I’m excited to show you all the properties we have available. When is the best time tomorrow to call you and talk personally about your real estate needs?

I won’t go into every detail that I use for emailing and talking to clients, more on that later. But, the most important behavior to remember, is to react to leads quickly. People that take the time to fill out a contact form are “ready to go”. Don’t let them slip away!

Find the Correct Selling Price for your Home

In this current real estate market it’s very important you get a professional real estate evaluation from an experienced Realtor. Your Realtor is the only one who can provide you with an honest assessment of your home’s value.

As a professional real estate agent focusing on the luxury real estate market, I base the selling price on many real estate market factors, including:

  • Real Estate Market Conditions
  • The Actual Condition of your Home
  • Repairs or Improvements your Home Needs
  • The Timeframe for Selling your Home

The sales price you set is a critical factor in selling your home. If your home is priced correctly, you should be able to sell in your alloted timeframe. If it’s not, you might sit on the home for awhile.

When I evaluate the sales price for any home, the goal is to get the home priced at market value. Market value is the price at which a particular house, in its current condition, should sell within 30 to 90 days.

If your home is priced too high this will limit potential buyers. My goal is to show your house to as many potential buyers as possible. Another downside to an incorrectly priced home is time on the market. When a home is on the market too long, it may get the wrong perception. Buyers may wonder, “what’s wrong,” or “why hasn’t this sold?”

If your home stays on the market longer than the average selling time, you might ultimately get a lower selling price. To sell it, you might have to reduce the asking price several times. Ultimately, you will probably get less than if you had priced the home correctly from the start.

Homes that are properly priced in the beginning always get you the fastest sale for the best price!