Generating leads in real estate is one of the most important parts of being a real estate agent. Only by creating leads can you then try and convert them to becoming clients - and there are strategies that can be used to ensure this is done correctly.

However, before we move to generating leads in real estate, first we need to create a sales pipeline, in order to have an organized manner in which it works.

 

What is a Sales Pipeline?

A sales pipeline in layman's terms, is a way to manage your real estate business and to keep track of all the prospects, alongside understanding which are the prospects that are most likely to convert.

There are key factors that real estate sales pipelines help with:

• Check on the status of every deal
• Helps identify issues in the sales process
• Helps in forecasting revenue
• Helps optimize the process

 

Sales Pipeline Management Tips For Real Estate

Lead Management

Understanding how good your lead is and what it can become is an important part of sales pipeline management.

A lot of people initially show interest, however, a lot of them stop showing interest when the deal gets closer. These are cold leads.

Identifying which leads are ones that have higher prospects is important to ensure your business gets clients. Utilizing a tool known as list stacking is very helpful in finding motivated buyers and sellers. Creating different lists and seeing which person fits in all of the criteria that will allow you to have higher sales is important, and list stacking can help ensure you find that.

 

Streamlining Your Sales Process

A pipeline is a representation of your sales process, and if it is complicated and all over the place, then your business will be too.

Maintaining a clear and concise sales pipeline is key for not only optimizing your business but finding weak spots and seeing ways to improve it.

One of the best ways to ensure everything is in order and everyone is clear on the tasks and projects, is to have a CRM system. The best CRMs in real estate offer a multitude of features that not only streamlines the pipeline, but also optimizes various aspects of your business.

 

Specify Each Pipeline

Creating pipelines that specify the stage at which your work is currently at. If your business has different projects running, make sure each and every pipeline is dedicated to a separate project, and on top of that, the projects should also have segmented tasks.

Creating segmentation within your work will create a clear idea of the goal of every task and will make it easier for every employee to complete and follow through.

 

Prioritizing Leads

As already mentioned, some leads can become cold leads, while others can create clients. However, once you have found out a way to decipher which is which, it is important to know how to proceed with them. List stacking itself will allow you to find motivated sellers, however what next?

Using different features such as:

• Automated communications
• Automated drip-campaigns
• On-time phone calls

And more, you can ensure better connection with your leads, who will later have more satisfaction with the customer service.

 

KPI Tracking

Making sure your pipeline is performing requires more than just manual monitoring. To know if everything is going right, you need to integrate softwares that collects different types of data and tracks your KPI in real estate. Such as:

• Number of deals that are running
• Amount of tasks that are being done
• Average deal closing rate
• Average leads coming in

These are just some of the metrics you can use to keep track of your business and how it is doing. Numbers work better than winging it, you will know the cold-hard facts about what is working, what is being done and how long everything is taking.

 

Using A CRM

As already mentioned, a CRM system has its benefits. All of the different things mentioned here, the best CRMs online can manage for you. Whether you are a real estate investor, agent, or broker, you will get various features that help you from generating leads to closing a deal.

You can even use them remotely from your mobile phone, so deals do not have to be pending for when you are away from your office. They even have different integrations that connect to your phone, which allows you to call clients, employees and anyone involved from directly within the system.

 

Conclusion

There are a few different ways to ensure you can manage your sales pipeline system efficiently and all of them are very important to your business' growth. However, while they can be done manually, in the modern world with competition looming around every corner, it is important to get ahead and ensure everyone is doing the most. Which is why, using systems such as CRM systems, is important. They automate your marketing campaigns, notify you about leads, and help you create better communication throughout the business.

Ultimately that creates a better business sales pipeline for you. Not to mention, they have options to help create pipelines within them, meaning everything can be set to one platform.