For new and growing agents, qualifying high-quality leads is crucial for achieving success in the real estate industry. Without a steady flow of leads that convert, agents may find it difficult to build and maintain a thriving business.

Fortunately, there are many resources and strategic approaches that you can do to qualify real estate leads effectively. These strategies will help you identify buyers, sellers or renters; but also get a good grasp of a potential client’s needs and wants. 

Okay. But first, where can I get leads?

There are many options for lead generation. When it comes to organic (non-paid) methods, you can generate leads by making your own website or a good landing page, try cold calling, asking for referrals from friends and family, or hosting an open house.

The more convenient strategy is to simply buy leads from popular buy-and-sell websites such as Zillow, Realtor.com, Trulia, and many others.

For those with the technical knowhow, you can also venture into the world of Facebook & Google Ads as another paid method to generate real estate leads.

Well, if I could buy them from listing sites, the problem would be solved, right?

Sure, you can quickly get potential leads from them, but here’s the catch: it can be costly. However, prices may vary depending on the quality because not all leads are generated equally. Some may be more qualified and likely to convert, while others may turn out to be colder prospects. If you want warmer or hot leads, you will end up paying much more.

This is why this method can quickly become expensive and not really a practical approach for many realtors, especially emerging agents. 

Most top producers in our industry have mastered the lead qualification process to streamline their pipeline and save time. And we’re going to discuss some of the strategies and methods they use.

Alright then. I can qualify the leads myself. But I feel a little overwhelmed and I don’t know where to start.

Don’t worry. We’re here to help.

While there are many ways to qualify your real estate leads, you don’t have to do all of them. What’s important is that you understand the basics and leverage them to your advantage.

You don’t have to qualify leads in one sitting–that would be very overwhelming and exhausting for you and your leads. You might end up sounding pushy or too salesy to them, potentially ruining your chances of sealing the deal.

What you can do instead is combine two or more ways where you can efficiently qualify your leads without spending a fortune.

Let’s discuss them below:

1. Physical and Digital Questionnaires

One way of qualifying real estate leads is by using questionnaires. In one of our previous blogs, we talked about using questionnaires in qualifying buyer and seller leads. It consists of questions that help determine the potential lead's motivation, preferences, financial readiness and timeline.

You can use physical questionnaires to help you gather all this information. Jot down as many notes as possible in your meeting or have the lead fill out the questionnaire whenever convenient.

Digital questionnaires are most convenient and can be put on your website or sent via email (or a series of emails). They allow you to collect data automatically and store them in a database (or CRM) that can be accessed anytime and anywhere.

Pro tip: Print several copies of physical questionnaires beforehand and save a digital copy if a lead prefers to answer your questions through email.

2. Landing Pages & Website

Simply put, a landing page is an online single-page website designed to convert visitors into leads. It allows you to capture their detailed information like name, email, phone numbers, etc. For real estate landing pages, you can include additional information about a specific property, neighborhood or market trends. 

An excellent landing page must include a call-to-action (CTA) that prompts the potential lead to take the next step. Make it simple, easy to understand and convenient for the lead to click and fill out, limiting the number of distractions as possible. Surveys and forms are also found on landing pages, providing you with more information about your captured leads. In an upcoming blog, we'll show you more tips on designing your landing page that increases lead acquisition and conversion rates.

Not having an optimized website in today's world is not acceptable. According to the National Association of Realtors (NAR) 2021 Profile of Home Buyers and Sellers, 51% of buyers found the home they purchased via the Internet and only 28% first contacted a real estate agent. Experts anticipate that the number of real estate online shoppers will continue to grow.

With an increasing demographic of younger first-time home buyers, having an effective online presence is extremely important to growing your real estate business.

Pro tip: Include reviews from past clients, professional photos and headshots of yourself and a snippet of your story as a real estate agent to show authenticity and credibility.

3. Surveys and Forms

Surveys help you gather information about your target audience’s needs, behavior and preferences. You can ask specific questions such as the neighborhoods and cities they prefer, the type of house they’re looking for, number of bedrooms and bathrooms, how soon they want to move in, etc.

Meanwhile, forms are used to collect contact information from potential leads such as name, address, phone number, email, and other relevant details.

You can analyze survey results and form submissions to identify trends and patterns in your area. Using these tools, you can follow up on your prospects and nurture them until they are ready to take the next step.

Pro tip: Make your questions simple and easy to answer. Limit your questions to two or three at a time so your leads wouldn’t feel overwhelmed when they answer.

4. Social Media

The advent of social media is heaven-sent for real estate agents. You can market and advertise your brand, share valuable content and promote your listings on social media platforms such as Facebook, Instagram, LinkedIn, YouTube, and TikTok. You can use some qualifying questions on social media through posts, stories, videos or reels that engage with your target audience.

For the more tech-savvy agents, you will find that most of the platforms offer several tools to help you engage with your audience and potential prospects. Social media is also a great way to display your expertise and knowledge about the field or market trends. This can become beneficial to you in the long run because people tend to want to work with an agent that they deem to be knowledgeable and professional.

If you need help knowing when are the best times to post on social media to get the best results and engagement, go check out our blog post where we give you the exact times to post everyday.

Pro tip: Use social listening to identify leads who are interested in buying or selling a house. Search for relevant keywords, hashtags, mentions of your brand as well as monitor your competitors for market updates.

The power of qualifying real estate leads should not be underestimated. It enables you to tailor a unique approach that will make you stand out as an agent, leading you to higher conversion rates compared to using a generic approach. Remember to keep it simple and convenient for your leads, and you’ll be well on your way to building a thriving business.