Lead Conversion: Best Practices

Published: January 6, 2020

Every single person that you meet is either a source of business for you or a source of referral business for you. That being said, no matter which category he or she falls into, we can agree that every single person that you meet becomes a lead. Furthermore, as you meet more people and spend more time prospecting, you will naturally see your lead conversion increase — that is, as long as you have the right practices and tools in place.

To help me break down the best practices around lead conversion, I brought in our Metrix Head Coach, Julie Youngblood. Julie has coached over 100 Metrix clients and has helped each of them establish the proper lead conversion systems and practices. She has listed her top four best practices below:

  1. Practice your scripts every day. You must practice your scripts for 30 minutes each day, Monday through Friday. Julie recommends to start with one script at a time and master each one. Pick a script that you want to focus on over the next 30 days and read it aloud as fast as you can every single day. Challenge yourself to see how many times you can read the script in your 30-minute window — maybe even set a goal for yourself. If you set a goal to read the script 20 times in 30-minutes, that is 400 times that you will read the script. Note: this exercise should be done on your own. Julie believes that if you can hear it, see it, say it, you will be set up for success!
  2. Role-play your scripts with other agents. For 30-minutes, twice per week Julie suggests partnering up with another real estate agent to practice your script. Practicing your script with another agent is key, as he or she will be able to give you the best and real-life objections that he or she has heard before. This role-play will help prepare you for when you put your scripts into action! This can be done in-person or over the phone,
  3. Secret to lead conversion: consistent follow up. It is vital that you have an effective system in place for following up and that you USE it. Upon receiving a lead, especially within the first few days, you should know the exact steps that you need to take to successfully convert the lead. Once you have established a system, follow it and track it for efficiency.
  4. Julie’s script that works every time. Right before you hang up the phone, ask “Out of curiosity, if you had a real estate question, who would you call?”. If the person on the other line says, “I don’t know, I don’t have anybody”, then you can say, “Well, I would love to be your resource! What is your best email address?”. This is helpful in building your database from cold calls

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