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Seller leads may not be what you think they are

They may be so much more (we'll explain). You've heard us go over the difference before, but just to clarify for those agents coming into the fold, there are several categories and they are all quite different. Perhaps it's human nature to think of a lead as something hot, happening right here and now at this moment. But speak with any seasoned RE salesman/woman or REALTORĀ® with years of lead conversion under their belt and they'll almost assuredly tell you... everyone's a lead. Sources for RE professionals vary, of course, but one common thread connects the "top performers" and that is that those who treat everyone in their farm with the same due diligence and patience reap the highest ROI on the relationships built. Why...?

They're graduated from every day contatcs

A seller lead sources from traditional lead conversion methodologies (aka "farming") and this takes time. Contrary to the "rush for qualified home seller" mentality, farming is, in its simplest form, about establishing, building and maintaining relationships with your community.... over time. That last part is the key... being there ready to help your client with their RE needs when they flip from lead to seller lead. Let's break that down... homeowners become home sellers when the homeowner is ready to list their home (this is understood), but they'll only be your home seller if you've spent the time to establish a relationship built on trust... and trust takes time.

To really land this point home, it's possible that another agent's clients (people they know and think are going to list with them) could actually be yours (homeowners that ultimately choose to list with you because you've spent the time building the relationship up). This is sort of the don't count your chickens until they've hatched school of thought. You might share homeowners with any number of agents in your region (they might even have been obtained from another agent or discovered for free). And this brings us to an important point...

They are an "earned" variant

This is all to say that the primary difference is time and patience. If you're building your business around homeowner connections, then you're going to need to connect. And no, connection doesn't mean sending them a postcard 6 months ago. ;) If you're doing that sort of homeowner outreach, then you're doing great (but so too are all the other agents in your territory). If, however, you're connecting on a weekly basis with the hundreds, perhaps thousands) of residents in your farm, then you're truly working with them. Why?

Once you've earned a seller lead, they're yours (don't drop em)

If you've cultivated them, they're yours. There's a statistic that's quite interesting in this regard... 72% of homeowners will list with the first agent that shows up. So, they're your's to lose. Think of it this way... as long as you're the first to show and as long as you maintain the relationship over time, then they are yours (unless you drop the ball and let another agent swoop in and grab their attention). Sounds an awful lot like a relationship, doesn't it? Because it is. It's a relationship business! But you know that. ;) And that's pretty much the takeaway here...

You have to treat all like they're hot

In this market, it's not enough to obtain lists of homeowners and hope that the eventual seller will remember your brand months or years down the road when they decide to list their home for sale. You have to become creative in your outreach efforts and be there for them over time, providing continuous value and insight on the market (when they show they're ready to start accepting it)! Look, to really work your territory, you're going to want a solid source of sellers. For real estate agents that just don't have enough or for those ready to take on more and grow their business, is your lead generation source. You've got to have them to work them, you've got to work them to keep them. You've got this.

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