As a real estate agent, you must be looking at more sales every year, more commission and more money in your treasury. We always insist our real estate clients opt for a comprehensive funnel development and they want to know why?
Thus, here I would like to discuss in detail what is a funnel and how it is beneficial especially for the real estate companies.
Why do you need a funnel for real estate?
I could not find a better analogy than that of a fisherman here.
You throw your bait (property) in the river and wait to see how many fishes (property investors/viewers) are interested to bite it. As soon as the fishes see the bait, they will immediately gather around and give you the chance to grab as many fishes as you can.
Your real estate sales funnel is similar to the fishnet. You throw it in the water to catch certain number of fishes. The small unwanted fishes will wiggle out soon and do not wish to retain them too. But, there is a great possibility for the larger fishes to slip from the net too. Thus, you need a strong net, a robust funnel to retain as many leads as possible.
An ideal and optimized real estate sales funnel should be a net without holes. The net should be in your control. A fish should come out of the funnel only when you want to leave it in the water again. The following is an example of how your real estate sales funnel should look like:
It is clear by now that you need a strong net to catch the best fishes from the pond. Taking the cue from here, we can say that you need to develop a strong funnel to ensure that your potential customers do not slip from your marketing funnel.
While discussing real estate, not every person on earth would buy a residential or commercial property on a regular basis. In this industry, repeat business is scarce. Thus, to achieve the desired sale outcome, you need to keep finding new leads and convert them into clients. And, you can do it with the help of a robust real estate funnel.
We have heard about the sales funnel but the real estate sales funnel is a little different and tricky. The real estate funnel can be termed as a series of landing pages that help to turn unknown visitors into qualified leads. An ideal real estate funnel will help you nurture your leads and convert them into loyal and faithful customers.
What does a marketing funnel do?
- The funnel will help you filter the unqualified leads step by step until you are handed over with serious leads that have the potential to convert into customers.
- It will help you understand what part of your whole marketing campaign is working successfully.
- Funnel development will help you break down your entire sales journey and displays all the stages to close the real estate deals.
- It will also help you understand the problem area to improve.
- A funnel will always boost your sales and it has the potential to drive long-term growth.
I hope, you have understood what a real estate funnel can do for you and why do you need it. Let me briefly discuss how can you develop real estate sales funnel within the following five steps:
Create Landing Pages:
You have created your website but to initiate your funnel, you need to create landing pages for each of your property. This will help you to collect personal information about your visitor. The landing page will encourage the visitor to leave the details that you can later use to interact with him or her.
Setting up marketing automation tools:
Once that is sorted, you have to set up the marketing automation tools that will help you interact with your leads. The examples are the auto-responder emails triggered by certain actions on your website. This way you save your time while interacting and nurturing leads. The drip email marketing campaigns, SMS/texts, are some more examples of marketing automation tools.
Towards lead generation:
By now, you have separate landing pages for your properties and your automation tools are ready. This is the right time to fill your funnel and convert the qualified leads with the help of the marketing automation tools. There are plenty of ways to do so. You can create your own advertising campaign or purchase the real estate leads through paid lead generation.
If you are keen on filling your funnel through marketing, social media is a strong and robust tool to do so. You can send subscriptions, newsletter requests, share general information on social media platforms and generate traffic.
Your funnel is filled by now and you might have screened your qualified leads and this is the time to nurture your leads. It is your duty to connect with each of your lead and know what they want, what are their preferences in terms of price, locality, amenities and so on. Moreover, keep in mind that not everyone who is in the funnel will be ready to become a client. Some of them might be interested in just receiving email and newsletters
Closing and refilling:
Well, this would be the last step in the whole process. Once the lead is converted into a client, it is the time to close the deal and enjoy your sales. Now the deal is close and you can again refill your funnel and the process is endless.
The Bottom Line
Building a real estate funnel is one thing that every real estate company must do. However, developing a funnel is just the beginning. There are miles to travel with marketing and remarketing with your real estate clients.