How are Leads Qualified?

 

Successfully converting a lead involves tapping into the mind of the seller to identify his / her needs which cannot be done online. If you already know the seller is very motivated, i.e. already agreed to consider a 25% BMV offer during the enquiry, it is your goal to convert it into a deal that is 25%, 30% or above using your negotiation skills.

Lead qualification is about asking the right questions to establish the level of motivation of the seller and not negotiating on behalf of the buyer. The negotiation only begins the moment the buyer engages with the seller. Whether you are buying leads from a lead seller or generating your own leads, this is a golden rule to remember:

“The more questions you ask sellers during the enquiry, the less likely these sellers would give you the answers and the higher the cost of generating your leads.”

Even the so called “telephone contacted” leads as a basis of qualification simply confirm the contact details of the seller. They do NOT establish the basic motivation level any better than a good online qualifying process. Therefore, it is important to recognise that a telephoned contacted lead does not equate to a qualified lead if inappropriate and insufficient questions have been asked.

Many sellers do agree to a 25% preliminary offer online but the extra 5% will require the extra effort from the part of the buyer. After all, it is easier to move from an expected 25% BMV to 30% than from 0% to 30% BMV!

Don't forget simply by correcting the seller's own estimated value of the property using your own research as evidence could easily gain you that extra few percentage BMV you require. After all, in today's market, establishing a property's market value is subjective and more of an art than science.

Without a doubt, the best tool to use for your due diligence is Home Track. The simple reason why you must have it in your tool box is that surveyors use it. If you want to get the valuation right, it makes sense to have full access to it at all times. Unfortunately, Home Track is expensive and it costs as much as £19,99 per month for just ONE report.

If you're interested in getting full and unlimited access to it for only £29,99 per month, follow this link here.

Of course, the success in converting a lead depends on many other factors. We’ll tell you more in a couple of days.

 
Best regards,
 

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