Having a healthy pipeline of leads is quite important for a real estate agent. But what exactly are high-quality leads and how can you differentiate them from regular leads? Let us understand the definition of high-quality leads in real estate a little better and map out the ways you can generate them.
What are high quality leads in real estate?
With several online platforms available for advertising real estate listings, lead generation is not as difficult as it once was. Within the high volume of leads generated these days, ‘quality leads’ are the ones that have a higher likelihood of conversion. These are generally the prospects that are not in contact with too many other agents, therefore giving you an open window for closing a deal with them.
High-quality leads are sometimes even seen as guaranteed deals, which is why they are of value to realtors. Let’s take a look at the various ways you can generate high-quality leads.
Ways to generate high quality leads in real estate
Have High Quality Listings
Serious property seekers look for listings with accurate information about their future homes. These property seekers can often translate to high-quality leads. As an agent, it’s important to ensure your listings are reaching your audience with all the data they seek.
Have at least ten well-photographed images, detailed descriptions and floor plans to attract the right kind of leads on Bayut. Validating your listings with the Checked or the TruCheck™ badge is an added bonus. Visit our guide on creating quality listings to learn more about how you can improve your listing quality.
Specialise in an area
Having a niche in real estate and establishing yourself as an expert can go a long way in creating a positive reputation in the market. Since real estate is an industry that heavily relies on word of mouth, being a market expert can help you connect with serious buyers. Your niche can be as basic as being the go-to agent for first-time home buyers, or a luxury home expert. You can also specialise in an area or community.
For this, we use the term “geographic farming”, a phrase used to describe area specialists who become a part of the community and are a known name among homeowners. If one of the owners decides to sell, your name should be on top of the list.
If you are planning to take this approach, it’s crucial that you have all the data needed to substantiate your status as an expert. For data about the most popular buildings or last sold transactions, you can refer to transaction insights or market insights on Profolio™. You can use this information to validate the most popular properties with TruCheck™ to generate high-quality leads and maximise earning potential.
Start partnerships
Having partnerships outside the real estate industry can help you get useful tips and leads. These professionals can recommend you to potential clients, knowing that you too would recommend them to your clients who are looking to buy, sell or rent a property, making it mutually beneficial for both parties.
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Some industries in the UAE which realtors can have productive partnerships with include:
- Insurance agencies
- Personal bankers
- Mortgage Consultants
- Contractors
- Property management companies
These scenarios happen quite often in the UAE (since real estate is a common topic among expats) and can lead to your (or your agency’s) name being referred to potential clients!
You can also forge partnerships by hosting meetups with expats in your city or area. Use apps like MeetUp to create events. You could even host a “First Time Property Buyers Catchup” to find individuals interested in buying their first home in the UAE. You can also join other professionals’ meetups, to network and establish your reputation in the market.
Gift them for their housewarming
Set yourself apart from other real estate agents in the UAE by making a thoughtful gesture after your client completes buying or renting property. Send them a housewarming gift for their new house. Some suggestions by successful agents include:
- A goldfish in a bowl. Inexpensive but memorable
- A picture frame
- Bath robes monogrammed with the person’s initials
- Personalised gifts such as a leather bag, pen or perfumes
Focus on your Referrals
Referrals play an integral role in generating high-quality leads in the real estate market. As per the National Association of Realtors in the US, homeowners refer their agents at least two times a year on average and 40% of homebuyers have used an agent that was referred to them by an acquaintance or family member. These prospects are one-of-a-kind since they usually tend to talk to only one agent, the one that they were referred to. While the numbers in the UAE may vary slightly, referrals are still excellent ways to connect with high-quality leads.
To get more referrals, ensure that you provide the highest level of customer service and pay attention to their requirements during your clients’ property search process.
Use Social Media
A lot of your potential clients are probably on social media. Take advantage of social media platforms such as LinkedIn, Facebook and Instagram by establishing yourself as an expert using insights. Show off the properties in your inventory, or highlight your success stories. Serious property seekers will definitely reach out to you if your social media content is compelling and appealing.
For realtors in the UAE, LinkedIn can play a major role in establishing yourself as an expert in real estate in the country. Post informative content about the areas you specialise in, share insights into the real estate market in the UAE based on transaction insights on Profolio™. This can help your clients associate your name with real estate in the country.
Generating high-quality leads can be a game-changer for your business. With more referrals and by taking advantage of the buzz generated by the social media grapevine, you too can connect with prospective clients with ease. To find out more innovative ways to increase your leads, check out our Content Corner on the Agent Portal. You can also attend our workshops at Bayut Academy to take your customer service skills to the next level.