First, they have a methodical approach to building a real estate sales pipeline.

Second, they are gurus of qualifying leads.

Finally, they follow up with their existing real estate clients well.

To show that today, I will talk about qualifying real estate leads. Consequently, you will get enough information to decide how likely the opportunity will convert into qualifying deals.

KEYS FOR THE INITIAL REAL ESTATE CALL

The key to qualify a real estate lead is to quickly find out if the prospect is a good fit for my agency. If so, then I will indeed make a call to further dig in. I will also invest my time to try to get the party on board.

There are different questioning methods to help convert more real estate leads. But for an initial real estate sales call there are three tips that I must remember:

–Don’t try to “sell the property”: I will turn off my real estate hat and stop vomiting unrequired information
–Actively Listen To Their Needs: Actually pay attention and document the key points they’re telling me
–Ask the right real estate questions: Keep reading…

Knowing how to effectively ask relevant real estate questions is of course crucial to the qualification process. So, below I’ve outlined some questions that will immediately assist to find out if the real estate lead is a viable opportunity.

5 QUESTIONS TO ASK FOR QUALIFYING REAL ESTATE LEADS

Can you give me a quick summary?

Before I jump in and give them a “pitch”, I will get them to talk first and tell me why they got in touch with me:

“Can you give me a quick summary of what you’re looking for so I can see if  I can assist you?”
This gives the opponent a chance to explain their needs. You will also profile them as a real estate client(what do they need? how financially stable they are? where are they located?) and get an idea of the total value they represent in terms of a real estate sales opportunity.

Who are the decision makers?

A gentle way to figure out how much weight the person on the phone carries as a decision-maker is by asking:

“Who would be the decision-makers involved with this real estate process?”

This gives me a bigger and brighter picture of the roles and responsibilities of the people involved. Also whether I need to consider the weigh-in from other people that might make or break this property deal.

If you’re ready to become a real estate agent in Illinois, visit our key real estate courses now to get started.

What are the salient features?

Once I have a crystal-clear sense that this prospect is a good fit for me then I want to get them excited and ask more about what they’re searching for:

“What are some of the salient features that are significant for you?”

It’s mandatory that you focus this part of the conversation on salient features. The last thing you want is a to-do list of items and put yourself in a critical position to deliver.

Do you have a contract with anyone else?

Don’t ever forget to ask this most significant question:

“Do you currently have a contract with any other company?”

If they do, figure out the details and whether you can even work with them. Is it exclusive? Is it legal binding? When is the cancellation date?

Ready to ace your real estate future? Learn why our pass-out students voted Illinois Brokers Academy Real Estate Classes the Top Place to Learn Real Estate.

Are there any hurdles?

Finally, sometimes it’s important to uncover any potential threats that can blow up my deal and it’s better to find out as early as possible.

Simply ask:

“Do you see any hurdles that could prevent this deal from execution?”

The answer to this question will also give you the crucial element you need to focus on to close the real estate deal and whether the potential risk is worth my time to pursue this prospect.

CONCLUSION

As I will continue builing my real estate sales pipeline and scheduling my initial calls, remember that lead qualification is a significant step to help me win more real estate deals. Don’t jump into automatic “property selling” mode. Instead, try to listen actively and ask relevant real estate questions to get the insights.

What questions are you asking?

#QualifyingLeads

Rental property investor, rehabber, or wholesaler? Get to know which investment strategy is the best fit for YOU by attending our online real estate classes.