If you’re a realtor, you’ve probably been bombarded with ads about getting more leads and generating quality leads. As a new agent, you’re probably aware of the link between leads and success.
In this session from Bayut Academy, we take you through all the essentials of generating and qualifying real estate leads. Let’s dive into the top takeaways from this popular session.
Lead Generation
Lead generation is the process of identifying potential customers for a specific product or service.
For real estate agents, generating leads is the core means to success. It creates a steady flow of clients, which leads to revenue.
Pre-internet, lead generation was done using traditional methods, such as door-to-door knocking, cold-calling, print advertising, direct mail and radio advertising.
Today, lead generation makes use of digital means such as online portals such as Bayut and dubizzle, videos, blogs, social media, email marketing and search engine optimisation (SEO).
The best approach to generating leads is the Hybrid Approach, which involves combining both traditional and digital methods.
In the real estate industry, this means choosing the methods that work best for you from both traditional means (such as networking, datasheets, open houses, referrals and your sphere of influence) and digital means (listings and real estate portals, events and roadshows, social media, SEO).
There are two types of lead generation: Inbound and Outbound
As the name suggests, inbound refers to lead generation methods that pull your clients toward you. For example, Real estate portals like Bayut and dubizzle, email marketing, paid digital ads, podcasts, webinars, videos and search engine optimisation.
Outbound lead generation refers to methods where you directly reach out to your potential clients, with tactics such as cold-calling, radio advertising, events and pop-up displays.
We’d like to remind you that cold-calling is illegal in the UAE, so please exercise caution to only warm call leads from your database that has expressed an interest in your real estate services.
Let’s look at five new-age lead generation ideas for real estate agents in the UAE:
Create Helpful Guides For Buyers And Sellers
Anyone looking to buy property in the UAE would appreciate guides on the process. You can establish yourself as an expert and gain their trust. Some topics you can create guides on include:
- First-time home buyers guide
- Five most common pitfalls to avoid when buying a property in the UAE
- Should you sell or should you wait?
- Use Bayut’s area, building or school guides to create content
- The non-resident’s guide to buying property in the UAE
Create Videos That Address Buyers’ Concerns
This is a great way to establish your expertise in real estate. Choose topics that you’re well-versed in and always include a call to action (FYI, A call to action is something you tell your audience to do after they’ve consumed your content) such as comment below, register your interest, tag a friend who would love this article.
Some topics for video creation to drive results could include:
- Cost of buying property in Dubai
- Understanding mortgage options
- Offplan verus secondary market option
- First time homebuyer clinics
Build Your Credibility
Sometimes credibility comes from more than tooting your own horn. A few effective ways to build your credibility include:
- Gathering testimonials and using this content on your Bayut Agent Profile
- Writing insightful articles and publishing on LinkedIn
- Participating in relevant discussions on social media
- Publishing market insights (you can compile this from Profolio™’s Transaction Insights and Dubai Transactions)
Take time to show off your proud moments in your career.
Offer A Free Home Valuation
This is a great opportunity to connect with sellers. By offering a free home valuation, you are offering value at the beginning of your relationship and building trust. Offer free home valuation using Transaction Insights available on Profolio™ and Dubai Transactions.
Our Transaction Insights come directly from the DLD and provide 100% transparent information about current market prices.
Create Opportunities By Re-Engaging With Your Clients
Re-engage with clients that are already in your database, i.e. those you have previously worked with or shown an interest in property.
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In order to do this effectively, it is imperative that you use a CRM such as Brokerpad and keep detailed records of clients’ requirements.
Examples of re-engagement include:
- A client missed the window opportunity to secure a corner unit at Dubai Harbour, so you re-engage when Emaar announces a new launch.
- A client has enquired about a villa but it did not suit their specifications, so you re-engage when a new villa comes on the secondary market.
You can re-engage with your clients by creating customised messages based on their requirements, by either a follow-up text or email.
This allows you to reconnect in a meaningful way.
Now let’s move on to understanding how to qualify the leads you receive, also known as Lead Qualification.
Lead Qualification
What is lead qualification?
Gathering information about your leads to evaluate whether they’re ready, willing and able to buy or sell.
Why is it important
Lead qualification helps you save time by prioritising clients who are most likely to move forward with buying, selling or renting a property.
Identify serious and motivated buyers, while moving less qualified leads to “B” leads or disqualifying if there is no potential for business moving forward.
Lead Qualification Checklist
- Location
- Reason
- Preference
- Budget
- Timeline
- Viewing
Let’s go into detail with each part of this checklist:
Location
- Ask your clients how much they know about the communities they are interested in. Generally speaking, the more qualified they are, the more knowledge they have.
- Check if they would consider other communities. Again, someone who is qualified has likely made their final decision or narrowed their location pool to one or two communities.
- The more communities you can disqualify, the faster they will be in making a decision
Reason
- Are they, first-time homebuyers
- Buying for capital growth
- Are they upsizing or downsizing
- Is it a holiday home
- Are they tired of renting
Preferences
Here, you ask about specific preferences
Qualified clients tend to have more specific preferences, which is why you can get as specific as possible about the property.
- Are they aware of the type of communities in an area
- What do they want out of the property
- Is there anything specific – Vastu compliance, a bedroom downstairs, closed kitchen, etc
Budget
What price points are they looking for?
When clients have defined their budget, it means that have researched current market values and have been educated on all the costs involved, This means, they tend to be more qualified.
- How much are they willing to spend
- Advice on current market values
- Are they aware of the buying costs involved
Timeline
How soon do they want to move to their new homes?
When clients have their finances in order and are ready to ‘pull the trigger,’ they tend to be more qualified.
- How long have they been looking?
- Do they need to sell to buy?
- Are they in a position to make a decision if they find their exact requirements?
Viewing
Subject to qualification, always book a viewing on the initial call.
- How eager are they to view
- Get them excited by arranging a viewing
- Always move clients towards a close by outlining a clear next step (second viewing, arranging an inspection, etc.)
Qualifying is an important skill in real estate. Spending some time upfront to understand where in the buying process your clients are, is time well spent. The only way to really understand client intent is to structure questions in advance and to push the client to take firm next steps.
Explore more articles that can help you develop the skills to take your real estate career forward on our Content Corner. You can also join us for our Bayut Academy, our in-house series of workshops developed for real estate professionals in the UAE.