Real estate leads can only be as good as the agent or lender that connects with them. The days when deals fell from the skies like golden nuggets of warm rain are over for the time being. Working, I mean working leads is the new norm much as credit ratings once again count as does the real estate professionals ability to guide a buyer through the process with the skill and knowledge of which road to take. Every buyer is different but each buyer is “On the lot to buy” as Alec Baldwin’s character said in Glengarry Glenn Ross. If they didn’t want to buy they wouldn’t have completed a profile. And if they completed one profile on Qazzoo they probably filled out profiles on another real estate site or sites. In short there is almost no such thing as an exclusive lead online. Much like the newspaper 10 years ago, home buyers didn’t buy the paper and make one phone call. they did not select the perfect number to call and then burn the paper. They made many calls and bought the paper the next week and made more calls. Do we think this is any different from how consumers behave today?
If you are reading this and believe that homebuyers are not constantly going through the internet, filling out forms and contacting real estate agents and creating leads on multiple sites you are going to be sorely disappointed. But there are remedies to the problem.
1. Make yourself indispensable by offering what others do not. Present your service as superior and live up to the self-hype.
2. Never let the buyer fall in love with a particular home. They need to fall in love with you. Come to depend on you. Become attached to you. Seek your advice. This will see you through times where your offer is not accepted or you are outbid for a home.
3. Number 2 above holds true to mortgage rates as well. Guarantee that you will do your level best to meet or beat any other rate out there and sell your higher quality of service. If you are beaten by some other lender by a quarter point, your service will outweigh the minute difference. Most of the low-priced mortgage rates are bait and switch anyway and people who have 700+ credit scores also respect superior service.
There are the quick and easy ways to out shine your competition.
Never get caught in a mortgage price war or a commission cutting competition. This leads to inferior service and less than happy clients that kill the potential referral down the road. Instead tell them that they will get what they pay for. Would they go to Costco for a mortgage? It may be cheaper but at the end of the day their dissatisfaction will cost much more than just money.