In every business there is an ongoing challenge of how to increase sales. In the real estate business the key problem for agents is turning prospective buyers into buying clients. Most real estate agents just simply assume buyer loyalty and call them clients if they have started showing them homes. However, what happens more often than we’d like to admit, they end up using a realtor that is within their circle of family or friends to consummate a deal. They may use any available realtor to look at homes, but give their business to someone they already know.
Increasing Client Conversion Rates
How To More Than Double Your Client Conversion
Increased prospect conversion rate from 20% to 50% with a VIP Buyer program and sales presentation to sign buyer clients to exclusive representation
I decided that I was tired of wasting my time with potential clients that would run me around looking at homes without ultimately using me for the home they did eventually buy. Since my lead generation was done through advertising, rather than through my sphere of influence, I needed another way to create client loyalty. The solution also increased my ability to convert prospects to clients. I was able to increase my conversion rate from 1 in 5 presentations to 1 in 2, by simply creating a PowerPoint presentation that explained a VIP Buyer program designed to give them a competitive edge over other buyers in the market. They would get access to new listings in real time in exchange for signing an exclusive representation agreement. I would give them auto-email updates of new listings, the moment they were listed, that matched their criteria very closely. They had the freedom to explore the neighborhoods on their own without relying on my availability. I would show fewer homes and spend more time making offers. They were also free to repel other agents pressuring them to buy by having exclusive representation. (No one likes to talk to a salesperson while they are shopping, to listen to a sales pitch) By making these high impact presentations to prospective buyers showing process and benefits for them, they were more likely to become a loyal client when they saw the benefits of a systematic buying process and creating a mutually beneficial working relationship.