Collecting Keys - Real Estate Investing Podcast EP 37 - How to Separate Truly Motivated Leads from Those Just Wasting Your Time
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It’s vital to maintain a healthy pipeline of leads. After all, you’ll want to be prepared when a lull or fluctuation in the real estate market threatens to stop your momentum. But finding leads is the easier part of the process — finding the motivated leads and pursuing them might give you a more challenging time.
In this episode of Collecting Keys Podcast, we share our tips on how to find motivated leads and pursue them. We also share our thoughts on the bear market and how to survive it.
Here are some power takeaways from today’s conversation:
- Keep your momentum up.
- Make your brand and marketing presence stronger.
- Be adaptable, consistent, and cautious.
- How to prescreen your leads to see if they're really motivated.
Episode Highlights:
[01:02] Surviving the Bear Market
In the past few weeks, the numbers in the market have become low. Real estate relies heavily on momentum. You need the resources and the stomach to keep pushing through.
To keep up your momentum, double down on marketing and optimize your systems. Make your brand and market presence stronger; be adaptable and consistent. However, you also need to remain cautious not to make offers based on assumptions that things will keep going up.
[16:58] How to Pre-screen Leads
Prepare a checklist of things you want to ask your leads. Ask them the following:
- Do you actually want to sell?
- When are you looking to sell?
- What’s the general condition of your house?
- Why did you call me as opposed to a realtor?
- What’s your price expectation for the house?
These questions can help you determine their motivations. Build these into conversations with them and establish trust.
[25:35] Pursuing Leads
When pursuing leads, it all comes back to the core idea that real estate is a people business. Try to help them with their problems. Listen to their needs and wants. Likewise, don’t be shady or too aggressive. Most people don’t have a positive experience with salespeople, and this makes problem-solving a critical part of the equation. Ultimately, every transaction should be a win-win.
If you’re a newer investor, don’t make the mistake of spending all your time building rapport without moving the dial. Qualifying them upfront will help you avoid wasting unnecessary time and weed out unmotivated leads from motivated ones. It also makes the initial sales process easier to outsource.
Notable quotes from the Episode:
[26:25] “This is a people business. It’s not a real estate business — it is because the real estate’s the collateral, but it’s all about the people and solving their problems.”
[29:22] “The problem solving part of it and the relationship part of this business is super important. It will allow you to have a better brand, it will allow you to do deals more consistently, and it will allow you to be a positive contributor to society.”
[35:08] “A big concern people always have is they’re like, ‘I don’t want to miss opportunities.’ And you know what sucks? You’re going to. That’s kind of part of the game.”
Resources Mentioned: