October 2009

Real Estate Sales Funnel

OK… I’m not a graphic artist. The sales funnel is mental tool I use to help me stay on track with acquiring future business. It sounds very impersonal thinking of leads in a sales funnel but until you meet someone, they are a stranger and they don’t really exist

- Not to go off on a tangent but that is the main reason real estate can be so difficult. People hold you at arms length until that moment when your eyes meet, you shake hands and you get to know each other, even a little. Then all the trepidation melts away and a good and trusting relationship can occur. At least that’s how it happens for me. -

OK, back to the funnel. It can be applied for any time period but I apply it to what I’m doing right now. At the top are anonymous visitors, which are those people who find one of my advertisements or web pages, which for me have completely replaced print advertising.

When they register on my site, become a friend/fan, visit me at an open house, send an email or call me, it’s my hope that they move down into the communication part of the funnel. Some simply vanish but I always try for a little “back and forth”.

When I’m able to make appointments, that is by far, the most important part of the system. Appointments are with home sellers to see their home prior to listing it for sale or meeting with people as a buyers agent for either counseling or to actually look at homes. This is the most important step because it gives everyone a chance to get to know each other and more importantly, to decide if we want to work with each other at all – and yes… occasionally I decline business.

Of those people with whom I have appointments, we have occasional successes. We may have to find several to choose from and write offers on 3 or 4 different homes before we actually get one in this competitive market. As people go under contract, I’ve got to be nurturing the rest of the funnel to keep the appointment part full.

One of the most difficult things for many REALTORs is trying not to focus entirely on only one part. That causes an inconsistent business model. In order to be successful, I need to remain aware and stay focused not only on my wonderful existing client base but also on those wonderful people, I have yet to meet.

Today, the appointment part of my funnel only has 6 or 7 people in it. If you’re thinking about selling and/or buying a home, now is a great time to pick up the phone! (Whoa…Did you hear that hint hit the ground after I dropped it)