The Digital Courtship

by BF STAFF on April 3, 2012

Warming up cold leads is tough, especially ones that come via internet outposts that seem to be the online equivalent of Siberia. While many of these leads are irrevocably frozen, others can be thawed. As more ways of getting online leads become available, it’s critical that agents know how to turn up the heat.

Most of the agents we talk to are great at working with their buyers. Personalities are known, communication preferences are established, and all parties are operating in their comfort zones. But when the agent must build a relationship with an online generated, and mostly anonymous lead, we see a lot less success.

Below are a few failed pick-up lines that haven’t helped agents engage potential customers or move their relationships forward:

“When I can show this property to you?”
“Do you want to go see this listing?”
“Can I call you to chat?”

These one-liners are okay when you’re already IN a relationship, but not when you’re trying to build one from scratch. In the initial getting-to-know-you phase, agents must share their relevant knowledge and expertise – in the form of market data and specific observations and opinions about listings – to woo and engage would-be buyers.

The first on-site visit or phone call must be earned and agents are going to have to work for it, not ask for it. Agents are courting would-be buyers in the digital stratosphere. It can be lonely out there, but it doesn’t have to be.

Warming up a lead takes tons of work in the form of follow-up, perseverance, patience, smarts, and a little bit of luck. One brilliant observation or comment often isn’t enough – it will take multiple attempts and time. There is also the very real threat of rejection, and a lot of it.

If agents don’t put themselves, and their best feet forward, rest assured there’s another agent waiting in the wings, ready to swoop in with the kind of romance and attention buyers want, and deserve.

 

Photo Credit: Diamond Sky Images, Getty Images, Polls Boutique

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A NYC First: Lead Assignment & Manager Tool

by BF STAFF on March 20, 2012

We’ve added a new layer to our ever-growing technology platform: the brokerage!

Brokerages were starting to get a little envious of the tools we provide to agents and homebuyers that help them search, organize, discuss, and track properties. As their agents were winning business, closing deals, and building relationships with Buyfolio, firms began to ask, what can you do to help us? Good question. We answered.

Step One: We developed “sign-up and search pages” for brokerage websites to help engage homebuyers who wanted to browse listings. These engagement pages took the homebuyer from the firm’s website to the Buyfolio platform, automatically creating a folio for them, where they could search, save, organize, etc. – all while attached to the firm whose door they came through.

Here in NYC, the VOWs never really took hold, mostly because the customer experience was sub-par compared to other listing sites. But the Buyfolio engagement page and platform (affectionately deemed the ‘VOW replacement’) was proving to be very sticky: homebuyers were not only more readily signing-up, but they were engaging with, and returning to, the platform and their folio (which remember, is attached to the firm). This success required the development of . . .

Step Two: Buyfolio’s Lead Assignment and Manager Tool. With more active homebuyers, firms needed a robust administrative tool to assign and track them. Here’s how it works:

1 – A homebuyer signs up on a firm’s engagement page. They’re brought to Buyfolio where a folio has been automatically created for them (attached to the firm) and they can immediately begin to search, save, organize, etc. The sign-up triggers an automatic email to the firm’s lead manager.
2 – The firm admin logs into their Buyfolio Brokerage Tool where they can see the homebuyer’s search criteria and assign them (via turnkey drop down box) to the best suited agent.
3 – The agent who has been assigned the homebuyer receives an email that they have a new customer and the customer is automatically added to their Buyfolio Broker Dashboard.
4 – The agent has the tools to communicate and collaborate with their new customer. Our Activity Log also gives great insight into the customer’s engagement level.
5 – As agent and homebuyer collaborate via Buyfolio, the firm admin has insight into how their relationship is progressing – is the homebuyer staying active? Is the agent being both proactive and reactive?

The national conversion rate for cold leads is 1-5%. But if you provide homebuyers with the right technology and experience, while simultaneously giving firms and agents the right tools to seamlessly collaborate with and engage them, those percentage start to increase. We’ve got the numbers to prove it.

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A Phone Number Does Not a Relationship Make

March 14, 2012

Many real estate agents are convinced that once they have a homebuyer’s phone number, they have a better chance at converting them into a customer. The phone number is many agents’ security blanket. But does it provide false comfort? It’s 2012. Most people do not want to spontaneously talk on the phone. Not with their [...]

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Brokerage Websites: Not the End All Be All

March 8, 2012

A focus on traditional website metrics – like visitor eyeballs and length of stay – and the inability to let sunk costs be sunk costs, are clouding brokerage firms’ vision, making them want everything to go down on their online turf. Many of them think their websites should be where leads are captured and converted. [...]

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Engaging The New Homebuying Generation

February 16, 2012

Listing syndication and a real estate market meltdown has fostered a new generation of homebuyers. Syndication gives homebuyers more data and more places to search for properties online. The real estate meltdown has made these same homebuyers warier than ever. They worry about getting a loan. They’re doing more analysis on the decision of whether, [...]

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Engagement Page Re-design

February 15, 2012

Your engagement page just got better looking and stickier! We’ve re-designed our popular engagement page to make it even more prospect friendly. The facelift also includes Facebook Connect, making it easier and faster than ever for customers to sign-up. A refresher: 1 – As a Pro, we automatically create a custom link / web destination [...]

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