A lead that is strictly buying is usually a renter looking to own their first home, though it can really include just about any renter, even if they don’t think they want to buy a house. Most renters have no idea that they could own their home – but if you can get a car or a credit card, you can get a house. Since a house is a tangible product (the bank can take it from the owner and sell if for more than it was bought for), it’s the easiest thing in the world to get financing.

When working renter leads, you want to make sure you’re partnered with a lender to pre-approve them. Make the usual initial contact by calling, emailing and stopping by the property to educate them on the benefits of owning their own home. Let them know you can get their credit and find out if they can purchase a home. If they can’t, sit them down and explain why, and give them tips on how to fix their credit. Then put them on a follow up campaign and continue to send them credit advice, information on improving credit scores, what is involved in owning a home, the benefits that come from it, etc. Help them now, and when they’re in a position to buy, they’ll come to you.

If their credit is good enough to buy a house, you need to sit down and educate them. Explain that buying a house is actually one of the most financially responsible things you can do. Let them know that the interest they’ll pay on their mortgage is tax deductible, as are real estate and property taxes, so they will get more money back in your tax refund (money is always a great motivator for people). Follow up with postcards at least twice a month with various information on owning a home.

For renters who come to you and may be on the fence about buying, remind them that every month they pay rent they’re making money for someone else. Their motivation is the possibility of where they’re going – they get excited about where they’re headed, not about what they’re leaving behind, so continuously throw hot properties at them, whether when you meet face to face, via email or by postal mail. Send them listings and sprinkle in why buying is such a smart financial move and even testimonials of past clients who were renters until the lead is ready to work with you.

If you think about it, ANYONE (unless they’re 80 and living in their last home) is a long term buyer. There is nothing wrong with following up with people who may not buy for 10 years, especially through email. Adding them to an email drip campaign doesn’t cost you a dime. You don’t even need to send them listings, just helpful info and tips, stats about how their credit score can lower their interest rate on a mortgage, etc. Then tell them ways to raise their credit score.

Every email you send your buyer leads should have a link to get pre-approved for a home loan that goes directly to you, so that you can process it through your mortgage broker. Make sure it goes through you first because you’re supposed to be their expert and one-stop shop for real estate needs. Also in the email have a link that they can click to sign up for email updates. Once they indicate they may be closer to doing something, start sending in the heavy artillery – listing upon listing of great properties.

As with all leads, the key to converting buyer leads is consistent and persistent follow-up. The information you want to send depends on the situation of the lead. A lead will choose the agent they feel most comfortable with and the one that took the time to be an educator to them. If you can do all that for your leads, you WILL get their business.

Follow Up Strategy Having a set system in place for following up with your leads is VITAL to your success at converting leads to clients. Check out our 14-day check list for aggressive follow up with your leads to see the kind of follow up that gets results. Making contact almost every day within the first 2 weeks of receiving a lead is a surefire way to make an impression! (Click thumbnail to download PDF file)