Not every real estate agent lead you get will be right for your brokerage, no matter how sure you are about it.
A potential real estate agent joins a real estate company not because he or she needs something, has bad commission split, or wants more support. They’ll make the change to join your brokerage when they’re facing a combination of these factors.
Sales qualification is a crucial step in every sales process. Why? It saves you your most valuable asset: time. Evaluating whether a prospect is a good fit will save you a lot of time later. In fact, 67% of lost sales occur because sales reps do not properly qualify potential customers before taking them through the full sales process.
During the sales qualification process, efforts will go down the drain if a salesperson focuses all of his or her efforts on check-marking one of the criteria above; instead, they need to ensure that every requirement is met.
Best Way to Qualify Your Real Estate Agent Leads
(1) Identify The Business Problem They’re Looking To Fix With Joining Your Brokerage
There will be some agents that reach out to you not because they need something, but because they paid attention to your marketing efforts. While marketing may get you many leads, Gleanster Research shows that only 25% of marketing-generated leads are usually of a high enough quality to immediately proceed to sales.
In this case, it’s essential to identify why an agent is reaching out to you.
Hence, become a master at business communication and devote your efforts into identifying the business pain and, if there isn’t one, consider that sales lead not worth exploring.
(2) Find Out Why They’re Considering a Solution at this Point
If there is a problem, chances are this isn’t the first time the agent has recognized it. If that’s the case, why is it that the agent is choosing to address it now?
It’s highly likely that a particular event prompted this change in behavior, which could either be a market shift, change in the company structure, loss of market leadership, or something else.
Either way, it’s essential to know why the agent is pursuing a solution at this point and why a solution wasn’t implemented before. Perhaps the agent faced issues before that could rear their ugly head again when you’re trying to solve their business pain.
Lastly, you need to see how badly your agent needs a solution.
If an agent seems okay about letting the problem grow, chances are they aren’t serious about taking things further.
(3) Figure Out the Decision-Making Process
Every prospect has a few reservations, whether it’s their criteria or their commission, and you need to do your best to ensure you solve any reservations they might have.
By finding out what’s holding them back, you can speed up your sales qualification process. You should ask your prospect about what might help them make the decision and help them resolve any fears or challenges they might have. Even if you have your work cut out for you and are trying to qualify a lot of leads, you need to make each of them feel like they’re the most important.
(4) Work Out Any Potential Challenges
The sales qualification process requires straightforwardness, both from your end and the agents’. Establishing a strong connection with your sales prospect is crucial and, if you don’t want to lose out on high-quality sales leads, don’t assume you know everything about them when they’re ready to take the plunge on your offering.
While some businesses think the maximum number of leads is the solution to their worries, smarter ones know it’s the number of qualified leads that truly matter.