3 Signs That a Lead will Convert

A key part of lead conversion is knowing how to single-out the potential customers that are ready to do business. “Consumers speak through the type of information they give,” says lead conversions specialist Mariana Wagner, Broker with Keller Williams Partners Realty in Colorado Springs, Colorado.

Recently, Wagner offered up a few lead insights every agent should keep in mind when sifting and sorting through inquiries.

Getting started

The first key to lead conversion is to  “know who you are trying to get to start converting,” according to Wagner. Identifying their ideal audience can help agents organize and prioritize leads, “It is always easier to build a relationship with a consumer when you know there is a common interest.”

But, no matter what the target market , here are some key signs that a lead is ready to become a client:

1) Real Phone Numbers

“If [a lead] gives a real phone number, they are expecting a call,” according to Wagner. “Agents should follow-up within five minutes…talk to them while they are in real estate mode.”

2009 Research from the Lead Response Management study shows that the likelihood of lead conversion is decreased by at least 6 times within the first hour.  Real phone numbers mean that lead is more willing to talk and in the first 5 minutes they are more likely to be available.

2) Narrow Search Terms

“The more narrow the search terms, the closer a lead is to acting,” says Wagner. “When someone is searching for Colorado Springs Real Estate, that’s a sign that they are at the beginning of the search. When they search for a four bedroom two bathroom home in a specific neighborhood and price range, that let’s me know that the lead knows what they want.”

3) Repeat & Frequent Visits

NAR research shows that the median home search lasts for 12 weeks before they make a purchase. Wagner says “If a lead has been on my sight for 8 or 9 weeks, that’s a good indicator for me.”

Though every lead is different, it’s important that agents not only engage those repeat visitors, but also pay attention to visit frequency.

“If someone is visiting my site three times a day or every hour, that’s my sign that he or she is pretty serious about making a purchase soon.” Says Wagner.

Translate the Information & Build a Relationship

Today an agent’s online presence should involve multiple sites and vehicles. That means leads come from different areas and the signs of conversion might show up in different ways, but the same rules apply.

Multiple inquiries or those that include a phone number and come in via Trulia Mobile Leads or from a Facebook page need to be treated as a priority. Why? Leads generated from sites like these that give consumers mobile access to property or an agent’s personal information are engaged in what Wagner calls “the real estate mode” and can be high converters if they receive timely and human responses.

Conversion is part science and part relationship, and that means agents have to both  pay attention to these important signs, and handle leads with care. Wagner says, “The best leads are people. You need to follow-up quickly and often and [remember] a person that provides you information starts a relationship, people come back because they have a relationship.”

Jovan Hackley

Jovan Hackley is part of Trulia's Industry Education team helping agents and brokers build their businesses.