Lead Management

RE/MAX Mumbai Gujarat Maharashtra
Lead Management

Two Most important words in
REB:
 Follow up.
 Sales are mostly closed with follow up,
not lead generation
 How much lead generation you should
do?
 Only till the extent you can follow each
of the leads properly.
 Remember: the faster the client is
responded to, the more trust he has
on the service.

Lead Sources
Leads
Walk Ins
In/
Outbound
Calls
SMS
Social
Media
Email
In a Party

How to manage 6 sources of
leads?
 Make one single repository for all
leads
 Can be in excel or any database
 Ensure it cannot be easily deleted by
making protected fields
 Best leads can be managed by using
iConnect as it is made as per RE/MAX
hierarchy

How to manage 6 sources of
leads?
 Capture all leads: A lot of phone leads
are lost. Ensure the following at your
office:
◦ The phone call is attended in 2 rings
◦ All the details are noted down (keep a
notepad near phone)
◦ Proper questions are asked and limited
information is given

Lead Allocation
Leads
Admin
B O
B A

Lead allocation:
 All leads in the office should be
allocated according to a policy
 Give according to geographical focus
of the BA
 Commercial and residential
specialisation should be also
considered
 BA should have skin in the game
 If a BA does not follow up on leads,
then they should not be allocated

Lead allocation:
 Research shows that if 20% of the
particular leads source are below
quality the salesperson ignores all
leads from that source
 So if you tap only bad quality leads,
eventually there will be no motivation
to follow up
 As discussed in last session: have
multiple lead generation sources.

Lead Life cycle
First contact
Understanding
requirement
Qualify
Providing
required info
Rapport
building
Closing the
deal
Can take from One day to few months…

How much is each lead
worth?
100 inquiries
30 qualified
10 near
signing
1 signed
Commission earned of Rs. 1,00,000/- so each
lead is worth Rs. 1,000/-

Time management:
 You need to work with active buyers /
sellers in first priority
 Their requirement should be satisfied
in top priority
 Remaining inquiries should be put in
low priority but should be kept in touch
as we discuss further…

3 Rules:
 The rule of 45 : 45% of all leads turn in
to a sale for someone
 Great salespeople follow up every
sales lead until the prospect buys or
dies
 The older the sales lead, the less the
competition

Facts:
 50% of sales leads are not followed up
in first 15 days of lead generation of
the lead
 80% of sales leads are not followed up
after 1 to 2 month of generation
 Most lead close after 6 – 12 months of
generation

Checklist for follow up
 Focus on strengthening relationship
 Centre of conversation should be
customer, do not be ME centred
 Make a simple system which the office
follows
 The end result of lead follow up should
be an appointment

3 B s of follow up:
 Be prepared and organised: When
you say you will call “day after
tomorrow” call exactly on that day.
Trust building starts here and now.
 Be persistent: Keep on trying till
prospect gives appointment
 Be patient: Remember the life cycle of
the lead can be 1 year. Be patient till
then.

Step 1: Qualify, Qualify,
Qualify:
 Are you prospect
 Or
 Suspect?

Step 1: Qualify, Qualify,
Qualify:
 To be Customer centric, get used to
asking a lot of questions.
 These questions should help you
judge the seriousness of the customer
 Budget, need, requirement, time table,
identification, etc.
 This will help you to know how much
aggressive follow up you need to do.

Step 2: Response Kit:
 So the day you get the postal address
and all information about the
customer, send a response kit
 It can be:
◦ Cover letter, thanking them for inquiry
◦ Buyers guide / seller guide / a recent
update
◦ Office / agent profile

Step 3: F.O.R.D. to build
rapport:
 F: Family
 O: Occupation
 R: Recreation
 D: Dream
 Whenever you meet you can refer to
these things before hand to make the
prospect feel important:
◦ How’s your son exams go? (when you
know his son was to appear in board
exams)

Step 4: Flood with
information:
 Send a lot of information, mostly over
email.
 Make a office newsletter and send to
all the prospect database, with
information on:
◦ Just listed
◦ Just sold
◦ New agent joining
◦ Any new development in area of
specialisation
◦ General real estate rules

Step 4: Flood with
information:
 Send various reports, which you can
make on trends of market
 Each prospect has to be impressed
that you know more about real estate
than the 99 other agents they
contacted, combined.
 The probability that a customer will
follow your advise increases when
they know you know a lot

Step 4: Flood with
information:
 Make 8 week direct mailer plan:
◦ 1st Week: Response kit
◦ 2nd Week: Buyer guide / Seller Guide
◦ 3rd Week: Just listed postcard
◦ 4th Week: Market report
◦ 5th Week: Customer Testimonials
◦ 6th Week: Just sold postcard
◦ 7th Week: City Guide
◦ 8th Week: Income tax tips / home loan tips

Step 5: Phone call
 Dedicate 1 hour for phone calls
everyday
 98% of appointments are generated
over phone call
 Most people avoid picking up
unknown numbers, so try again. Then
try with a different number.
 Calls can be simple “how are you” or
following up with some information
they need

Use iConnect:
 To add all contact details of prospects
 Record activities on their listings
 Ensure that a database is handy for
mass emails, personal notes and
sending response kits.

Lead Audit

Lead Audit :
 Check all the leads which have been
recorded and see whether they have
been followed up with every month.
 Systems fail, unless checked and
rechecked.
 Try to incorporate improvements
based on past experiences.
 Do not assume that everything is
going normal unless you have
evidence to that fact

Lead Audit :
 Things to be checked in an audit:
◦ All leads generated in an audit are
recorded
◦ All recorded leads have proper
information
◦ All recorded leads have been allocated in
proper manner
◦ All allocated leads are followed up
◦ According to office policy the follow up
process is going on
◦ Lead source is cost effective

Lead Audit:
 Purpose:
◦ Check any lead leakage
◦ Measure performance of Lead source
◦ Measure performance of follow up
systems
◦ Track BA performance
◦ Improvise trainings
◦ Review office strategy

Questions?
http://technologyremax.blogspot.in
/
ppandya@remax.in
mgm@remax.in
THANK YOU
LOOKING FORWARD TO BE PART OF YOUR
SUCCESS
www.remax-mgm.com
www.remax.in
www.whatisremax.com

Lead Management

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