lead servicing

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Lead Servicing

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Page 1: Lead Servicing

Lead Servicing

Page 2: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Lead Servicing

Lead Management

Lead Generation

Page 3: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Dissappearing Agent.flv

Page 4: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

“My agent didn’t get back to me.” This problem is world wide. Communication with a lead is the biggest problem.

Sellers and buyers both feel that agents are not really working unless they are updated regularly about the progress.

The number 1 problem:

Page 5: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Most real estate agents believe that lead generation is the only work of their business.

They don’t know what to do once they get the lead.

They over commit while getting mandate, hence they fail to meet expectations later.

Why agents disappear?

Page 6: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Agents should understand that money may get generated if the transaction is done, but profit is generated out of referrals.

So whenever a lead is generated, excellent service should be given, so even if the transaction is not done, the prospect passes leads to the agent.

Every lead gives a tremendous opportunity to build good will in the market: don’t squander it

Where is the money?

Page 7: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Get the details of the lead

Define deliverables and explain

service

Property Listing Form and exclusive mandate

Ensure that price is right

Search matching buyers on

various platforms

Post and advertise

listing

Prepare and send brochure of the property

Coordinate Property

Showings

Follow-up and close

Documentation and Legal Paperwork

Registration and move-in

processes

Invoice and customer feedback

Process of Serving a Seller

Page 8: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Sometimes there are improvements required in a property which make it more:◦ Easily Marketable ◦ Get a higher value ◦ Widen the market

For example:◦ Painting, repairs and refurnishing ◦ Getting documents in order ◦ Making it vaastu compliant

Property Improvements:

Page 9: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Post it on RE/MAX portal

Put a yard sign / Banner

Post it on Magicbricks

/other portals

Make brochure in Design

Centre

Inform in RE/MAX

Network and Broker Network

Make a PowerPoint and

put it on SlideShare

Write a blog on it and mention property URL

Make YouTube video on

property and tag it

Put it on your Facebook page

Advertise in newspaper with

property URL

Do postcards /flyers

Include the listing in the

office newsletter

Market a listing?

Page 10: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

If you have got a 3 month exclusive mandate it is a good idea to update the customer every week on :◦ Activities you are doing for the property◦ Response you have got ◦ Buyer feedback ◦ Any changes in offer you propose

You can give over phone or email

What to communicate?

Page 11: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Balanced market : 4-6 months inventory

Seller’s market : 2 month supply

Buyer’s market : > 6 months inventory

Market Conditions

Page 12: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

A buyer’s market is ideal A seller’s home was Rs.20,00,000 and based on the

current buyer’s market must take 5% less or Rs.19,00,000, a loss of Rs.1,00,000. Their next home would have had a purchase price of Rs.40,00,000, however, due to the buyer’s market they can buy it for 5% less or Rs.38,00,000 – a saving of Rs.2,00,000.

The seller saves Rs.1,00,000 by selling and moving up in a buyer’s market. 

Now if prices bounce back and go up 5%, your seller will gain Rs.38,00,000 x 5% = Rs.1,90,000 whereas if they stayed where they were they would only gain Rs.19,00,000 x 5% = Rs.95,000. A net gain of Rs.95,000 (double)!

Is he trading up?

Page 13: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Same rules apply: ◦Communicate well ◦Have a process in place for all kinds of leads ◦Ensure that you have exclusive mandate

before incurring a cost ◦Maintain proper records

Other leads : (Buyer/ tenant)

Page 14: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Get the details of the lead

Define deliverables and explain

service

Property Requirement

Form

Understand Need, Wants, Concerns and

clear requirements

Search matching

property on various

platforms

Post requirements

Prepare and send brochure of matching properties

Coordinate Property Showings

Follow-up and close

Documentation and Legal Paperwork

Registration and move-in

processes

Invoice and customer feedback

Process of Serving a Buyer

Page 15: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Some times we get builders who want to market projects with RE/MAX

Ideally you should do the following steps:◦ Evaluate the project vis-à-vis the price / location ◦ Is it pertaining to your focus area (geography,

price point, type of property) ◦ Does the project excite you? If yes then only

even think of exclusive mandate. If no then do open listing

◦ Donot give false commitments ◦ Donot waste time if project is not saleable

New Projects:

Page 16: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Exclusive Projects are a huge responsibility and should be taken carefully.

Open listing can be taken, but then you should work on them else sales will not happen “magically”

Invest your time and money wisely. Do not assume that if 50% of scheme is sold, makes it easy to market remaining 50%

New Projects:

Page 17: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Only 3% of customers who walk in to a site, close. So if you have other listings in the same area, probably you can use this walki n database to sell those listings

Smaller the builder, will value you more than larger builders. They don’t have the brand/ advertisement muscle to sell 100% of inventory, so try to get more commission

New Projects:

Page 18: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

One big advantage of having exclusive listing is that you get all secondary leads of :◦ Selling of prospects’ existing property so that he

can buy a new one. ◦ Resale of flat if he is investor ◦ Renting of the flat ◦ Referral from that customer for his friend

New Projects:

Page 19: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

Building long term relationships Doing immediate tasks on hand Communicating with customers Delivering results Satisfying customers Keeping in touch with closed customers

NOT ON Commission !

Focus on

Page 20: Lead Servicing

RE/MAX Mumbai – Gujarat – Maharashtra

THANK YOU