The need for speed when following up on real estate leads is well documented, but what about asking the right questions?
More than 80% of agents following up a lead do not ask the right questions, a study shows.
The case study conducted by call tracking company Iovox analysed the conversations between the staff of an estate agency with 60 offices and their leads using AI.
The study was conducted on behalf of a property portal with the purpose of understanding missed monetization opportunities specifically relating to financial services and seller leads during follow-up conversations.
Only 18% of agents asked if the lead had a property to sell or let, missing out on valuable seller leads.
The majority of agents also missed the opportunity to offer financing solutions. In fact, just 11% asked applicants if they required a mortgage, despite the analysis showing that 65% of calls did need one.
It was calculated that this agency had missed out on $4.9m worth of revenue opportunities.
Although seller leads specifically might not be as relevant to agents selling to international buyers, this research underscores the pivotal role that asking the right questions plays in effectively qualifying leads.
By gaining insight into the client’s motivations, financial situation, timeframe, and other pertinent factors, you can assess whether they are a serious and qualified prospect.
Regardless of whether you are selling properties in Spain, France, Portugal or Italy to international buyers, this strategic approach allows you to optimize your time and resources by prioritizing leads with a higher likelihood of conversion.
Here are 2 simple qualifying questions often used by agents selling to international buyers:
- When are you looking to buy? This all-important question will determine how hot the lead is.
- Why are you buying? Understanding their motivations, i.e. if they are looking to relocate, invest, retire or simply enjoy the property as a holiday home; will vastly increase the appropriateness of your property suggestions and the likelihood of securing a sale.