Ways to Qualify Leads

5 Ways For Real Estate Agents to Better Qualify Leads

Qualifying leads means doing some research on them before committing too much of your time. It protects agents from wasting time and resources on leads that are unlikely to covert. That said, qualifying a lead is not a simple yes/no process. A lead unlikely to buy this year might be a strong prospect three years from now if you stay in touch; qualifying leads also means deciding picking the best follow-up strategy and keeping in touch with leads interested in a transaction later on.

1. Assess their Motivation, Not Just their Finances.

Why have they decided to move? How enthusiastic are they about a new home? Gauging a lead’s motivation helps you assess how driven they are to see the buying or selling process through to its conclusion. Understanding their motivation to move also gives you insight into their financial situation and commitment to working with a professional agent. If a lead doesn’t seem to seriously consider your advice or services, there is a good chance they are not very interested in working with you. A good leading questions to assess motivation is “If we find the right property, are you prepared to make a decision now?”

2. Ask If They’ve Purchased a Home Before.

This question is not meant to weed out first-time home-buyers, though some agents do prefer not to work with them. Instead it is a question that gives you a lot of insight into a lead’s experience level, expectations, and needs. Their answer will help you assess how much support and guidance they might need during the home-buying process, and how open they will be to your suggestions and experience.

3. Ask If They’ve Already Talked to a Loan Officer.

This question gives you information about how familiar the lead is with the home-buying process, and how prepared they are to make a decision. If the lead has yet to talk to a loan officer, you should have one or two ready to recommend. If they already have a loan officer in mind, find out why they chose that person. If it is not a one you recognize, do a quick search.

4. Ask How They Found You.

Not only does this question help you asses the effectiveness of your own lead gen activities, it also gives you a sense of how seriously this lead has been looking for agents. If a lead comes to you through a referral or finds you through their research, there is a good chance they are serious about pursuing a transaction. If they contacted you on a whim after a couple of Google searches, they might not be as committed.

5. Have a Website Form for Online Leads.

Online leads are usually the type that most worry agents. How can you tell if someone is serious about buying or selling without investing a lot of time and energy in them? The best way to quickly and effectively qualify online leads is with an online contact form on your website. A form is better than simply listing your email address, because it structures leads’ inquires and lets you ask for specific information. But be careful; putting too many questions in a contact form will just discourage leads. Here are some great questions to consider:

  1. How soon do you need to move?
  2. Are you working with another salesperson or broker? If so, what is their name?
  3. What special requirements do you need in a property?
  4. Will anyone else be helping you make the buying decision?

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