Lead Servicing
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Transcript of Lead Servicing
Lead Servicing
RE/MAX Mumbai – Gujarat – Maharashtra
Lead Servicing
Lead Management
Lead Generation
RE/MAX Mumbai – Gujarat – Maharashtra
Dissappearing Agent.flv
RE/MAX Mumbai – Gujarat – Maharashtra
“My agent didn’t get back to me.” This problem is world wide. Communication with a lead is the biggest problem.
Sellers and buyers both feel that agents are not really working unless they are updated regularly about the progress.
The number 1 problem:
RE/MAX Mumbai – Gujarat – Maharashtra
Most real estate agents believe that lead generation is the only work of their business.
They don’t know what to do once they get the lead.
They over commit while getting mandate, hence they fail to meet expectations later.
Why agents disappear?
RE/MAX Mumbai – Gujarat – Maharashtra
Agents should understand that money may get generated if the transaction is done, but profit is generated out of referrals.
So whenever a lead is generated, excellent service should be given, so even if the transaction is not done, the prospect passes leads to the agent.
Every lead gives a tremendous opportunity to build good will in the market: don’t squander it
Where is the money?
RE/MAX Mumbai – Gujarat – Maharashtra
Get the details of the lead
Define deliverables and explain
service
Property Listing Form and exclusive mandate
Ensure that price is right
Search matching buyers on
various platforms
Post and advertise
listing
Prepare and send brochure of the property
Coordinate Property
Showings
Follow-up and close
Documentation and Legal Paperwork
Registration and move-in
processes
Invoice and customer feedback
Process of Serving a Seller
RE/MAX Mumbai – Gujarat – Maharashtra
Sometimes there are improvements required in a property which make it more:◦ Easily Marketable ◦ Get a higher value ◦ Widen the market
For example:◦ Painting, repairs and refurnishing ◦ Getting documents in order ◦ Making it vaastu compliant
Property Improvements:
RE/MAX Mumbai – Gujarat – Maharashtra
Post it on RE/MAX portal
Put a yard sign / Banner
Post it on Magicbricks
/other portals
Make brochure in Design
Centre
Inform in RE/MAX
Network and Broker Network
Make a PowerPoint and
put it on SlideShare
Write a blog on it and mention property URL
Make YouTube video on
property and tag it
Put it on your Facebook page
Advertise in newspaper with
property URL
Do postcards /flyers
Include the listing in the
office newsletter
Market a listing?
RE/MAX Mumbai – Gujarat – Maharashtra
If you have got a 3 month exclusive mandate it is a good idea to update the customer every week on :◦ Activities you are doing for the property◦ Response you have got ◦ Buyer feedback ◦ Any changes in offer you propose
You can give over phone or email
What to communicate?
RE/MAX Mumbai – Gujarat – Maharashtra
Balanced market : 4-6 months inventory
Seller’s market : 2 month supply
Buyer’s market : > 6 months inventory
Market Conditions
RE/MAX Mumbai – Gujarat – Maharashtra
A buyer’s market is ideal A seller’s home was Rs.20,00,000 and based on the
current buyer’s market must take 5% less or Rs.19,00,000, a loss of Rs.1,00,000. Their next home would have had a purchase price of Rs.40,00,000, however, due to the buyer’s market they can buy it for 5% less or Rs.38,00,000 – a saving of Rs.2,00,000.
The seller saves Rs.1,00,000 by selling and moving up in a buyer’s market.
Now if prices bounce back and go up 5%, your seller will gain Rs.38,00,000 x 5% = Rs.1,90,000 whereas if they stayed where they were they would only gain Rs.19,00,000 x 5% = Rs.95,000. A net gain of Rs.95,000 (double)!
Is he trading up?
RE/MAX Mumbai – Gujarat – Maharashtra
Same rules apply: ◦Communicate well ◦Have a process in place for all kinds of leads ◦Ensure that you have exclusive mandate
before incurring a cost ◦Maintain proper records
Other leads : (Buyer/ tenant)
RE/MAX Mumbai – Gujarat – Maharashtra
Get the details of the lead
Define deliverables and explain
service
Property Requirement
Form
Understand Need, Wants, Concerns and
clear requirements
Search matching
property on various
platforms
Post requirements
Prepare and send brochure of matching properties
Coordinate Property Showings
Follow-up and close
Documentation and Legal Paperwork
Registration and move-in
processes
Invoice and customer feedback
Process of Serving a Buyer
RE/MAX Mumbai – Gujarat – Maharashtra
Some times we get builders who want to market projects with RE/MAX
Ideally you should do the following steps:◦ Evaluate the project vis-à-vis the price / location ◦ Is it pertaining to your focus area (geography,
price point, type of property) ◦ Does the project excite you? If yes then only
even think of exclusive mandate. If no then do open listing
◦ Donot give false commitments ◦ Donot waste time if project is not saleable
New Projects:
RE/MAX Mumbai – Gujarat – Maharashtra
Exclusive Projects are a huge responsibility and should be taken carefully.
Open listing can be taken, but then you should work on them else sales will not happen “magically”
Invest your time and money wisely. Do not assume that if 50% of scheme is sold, makes it easy to market remaining 50%
New Projects:
RE/MAX Mumbai – Gujarat – Maharashtra
Only 3% of customers who walk in to a site, close. So if you have other listings in the same area, probably you can use this walki n database to sell those listings
Smaller the builder, will value you more than larger builders. They don’t have the brand/ advertisement muscle to sell 100% of inventory, so try to get more commission
New Projects:
RE/MAX Mumbai – Gujarat – Maharashtra
One big advantage of having exclusive listing is that you get all secondary leads of :◦ Selling of prospects’ existing property so that he
can buy a new one. ◦ Resale of flat if he is investor ◦ Renting of the flat ◦ Referral from that customer for his friend
New Projects:
RE/MAX Mumbai – Gujarat – Maharashtra
Building long term relationships Doing immediate tasks on hand Communicating with customers Delivering results Satisfying customers Keeping in touch with closed customers
NOT ON Commission !
Focus on
RE/MAX Mumbai – Gujarat – Maharashtra
THANK YOU