How to Re-Engage Cold Real Estate Leads
The real estate business is a highly in-demand industry. As a result, you’re likely to come across many potential leads that are just a bit too cold. Don’t let those leads go to waste! If your target customer hasn’t shown interest in buying or selling their home in the past month, you can use these strategies to re-engage them and get them moving towards closing on their dream property.
By engaging with cold leads effectively, you can ensure that your business will thrive even when the market becomes saturated with competition from other agents or agencies. You may even be able to help these prospective customers find their ideal home sooner than they had planned!
Adjust Your Approach
To begin, review your cold call list. You will be looking for commonalities in the people you have called and patterns in their behavior that you can use to improve your marketing efforts moving forward.
There are a few ways to get your leads moving again. If you’ve been sending out the same email pitch, try a new approach:
- Ask questions that will help you understand what they are looking for in a house or neighborhood.
- If they don’t respond as expected, ask if there is any way you can help them with their search.
There are two types of mailing lists: the one you use to send out updates and the one you use to market your business. The first is called a “retail” or “business-to-business” (B2B) list, while the other is called a “direct mail” or “sales lead” list. Both are valuable tools in real estate marketing—but only if they contain relevant names and information.
If a buyer has been on your list for more than a few weeks, send them a handwritten note to let them know you haven’t forgotten about them. Make sure to include your contact information and ask if there’s anything you can do for them. If they don’t respond, leave it alone and revisit in another week or two.
Handwritten notes are more personal than emails and will be remembered longer than voicemails because they require more effort from the recipient. They’re also likely to be kept as keepsakes—something that can only help build trust between you and your client in the future!
There are many ways for you to stay in touch with your contacts, including social media and geo-targeting.
- Use social media. If you have a Facebook or Instagram account, consider adding it to your signature line so that people know where they can find you online. It’s also good way to connect with leads after they’ve been engaged and turned into prospects or buyers while also keeping in touch with current clients
- Geo-targeting. You can send local messages based on where someone lives by using geofences or location services on mobile devices, which allows real estate agents to reach buyers who live near the properties they’re marketing
For example, you can change up the design of your marketing materials by adding new photos or design elements to create fresh collateral and capture attention from prospects who may be less interested in the standard fare from real estate agents.
Once you’ve sent your lead a letter, it’s time to follow up. A few days after mailing the letter (but not so long that they forget who you are), give them a call. The purpose of this call is to gauge whether or not they received your mailing and what their reaction was. If the lead has no idea what you’re talking about, then obviously the letter didn’t get there! But if they do remember receiving it and seem interested in what you have to say, then ask if there’s anything else in particular that piqued their curiosity about working with you on this project or buying/selling property in general?
In order to re-engage cold leads, you need to first reevaluate your approach. This may mean changing your sales pitch and following up in a different manner.
If you decide that the mailing list strategy is what’s causing your results to be low, it’s time for some changes. For example, if you are sending out mass mailings but only getting back about 5% response rates, then it might be time for you to consider using targeted lists or even just making sure that each mailing goes directly into the right person’s mailbox instead of indiscriminately putting them into everyone else’s box with names and addresses printed on them (which will likely get thrown away).
You could also try changing up when and where people hear from you next by finding out more information about their lifestyle habits or interests through social media interactions before reaching out again in person or through email/phone calls later down the road after they’ve had more time on their hands because there hasn’t been any contact since then.”
The key to engaging cold leads is to make them feel like they are a priority. If you can do this, then you’ll have a much better chance of converting your cold leads into clients. As we talked about earlier, it’s important not to assume that just because someone is contacting you for the first time that they don’t need help from an expert. The more personal approach can be especially effective if they require immediate attention or have a short sales cycle, such as real estate.