Best Outbound Real Estate Leads Techniques for Converting Different Types of Outbound Leads Into Clients
Converting the Most Common Outbound Real Estate Leads: Expired, Withdrawn, and FSBO Listings
When prospecting, it makes sense to focus on the leads that are most likely to convert before moving on and calling leads with lower conversion rates. In real estate, the outbound leads with the best conversion rates are those associated with expired, withdrawn, and FSBO listings. The reason for this is that these people have, at least at one point, signaled that they want to sell their homes.
The best prospectors, the ones who know their scripts and have a lot of practice, can convert a decent percentage of these leads if they’re able to get them on the phone. In order to improve your conversion chances with these leads, try this technique: make your close the logical conclusion to the conversation. Ask the questions that allow you to get to the core reason why this seller wouldn’t want to set an appointment with you. Then, subtly explain or clarify why their reasoning is incorrect.
Converting Uncommon Outbound Real Estate Leads: Advertised Rentals
While the vast majority of outbound real estate leads are the types covered in the section above, there are others out there. Investors and owners of advertised rentals, for instance, have been known to list with agents who manage to reach them at the right time. Catching them at the right time is, more or less, a matter of luck. When you notice an advertised rental, contact the owner and hope that the timing is right.
If the owner has even the slightest urge to sell, you have a chance. The best way to make the most of your time with this type of outbound prospecting is to quickly determine whether or not this urge is present. When you do manage to identify a rental owner with the urge to sell, remember to make your close the logical conclusion to the conversation. During the appointment, you’ll have plenty of time to sell your services, so save the boasting for later.
Finding and Converting New Outbound Real Estate Leads: Circle Prospecting
If you’re able to get over the initial call reluctance that comes with cold calling, you can potentially find and convert free real estate leads by circle prospecting. Essentially, circle prospecting is a prospecting technique that involves blindly calling people in a specific area and hoping to find someone interesting in buying or selling a home. Needless to say, it’s hard work.
Even the best prospectors aren’t able to achieve great conversion rates with this technique, but that doesn’t mean circle prospecting doesn’t have its uses. When used to support a real estate farm, this prospecting strategy helps keep your brand top of mind, which can improve conversion rates in that area. If you’re simply looking to convert outbound real estate leads quickly, however, stick with expired, withdrawn, and FSBO listings.
If you want to learn more about strategies and tools for converting outbound real estate leads, including more information on the best techniques for outbound lead conversion, be sure to watch for the Certified Outbound Lead Specialist course coming soon to Rebus University. Sign up here now to receive exclusive member savings when the course launches.
Pat Hiban is the author of NYT best selling book “6 steps to 7 figures — A Real Estate Professional’s Guide to Building Wealth and Creating Your Destiny”, founder of Rebus University and the host of Pat Hiban Interviews Real Estate Rockstars an Agent to Agent Real Estate Radio Podcast with Hiban Digital in Baltimore, Maryland. Follow him on Facebook or Twitter.