Leads are the fuel of business. This is true of any market. From retail to real estate people selling stuff need to know who wants to buy, where they are located, and how they can be reached. Once that information is established, the sales process can be initiated, and good salespeople should be able to close deals. Without good leads, the process can’t even get started. In a business as high stakes as real estate, leads mean a lot. In fact, most real estate professionals will tell you that there isn’t such a thing as a bad lead in real estate.
Home sellers and prospective buyers are generally brought together by real estate agencies and their representatives. Leads are what realtors use to bring the two sides together. Having a hot tip about an eager buyer with deep pockets is a dream lead. In basic terms of good and bad, you might call this a good lead. Getting a lead about a house for sale but the seller isn’t that motivated or the property is wrapped up in a probate nightmare, is not a dream lead. However, it isn’t a bad lead either. It’s not even an unqualified lead, it’s just a difficult lead. If you are a good realtor, you may be able to coax a sale out of leads like these.
Listing lead generation is broken down into two discernible categories. There are qualified leads and there are unqualified leads. The basic difference between the two is information. An unqualified lead is a little more than a hunch, for example someone that has entered their most basic information in a bank survey about mortgages. What you have is a name and a phone number of someone who might be interested in real estate. What you don’t have is their financial information or whether they are really serious about buying or selling.
To qualify that lead, a realtor or an office assistant will follow up with a potential buyer or home seller. That lead might become qualified if the information gleaned tells the real estate agent that these people mean business. In modern real estate agencies, the information collected is then uploaded into software systems. The agents then have access to a qualified fresh lead that they can access instantly on a laptop or even their phones.
Thanks to this software, listing lead generation has never been more accurate. In theory, this should make for better leads that turn into more sales. AI software systems are even taking it a step further. They are telling agents where their next leads might be coming from. Listing leads are mostly generated in the above method; a seller or buyer engaging with a real estate website. They are effectively signaling that they are ready to talk to someone about real estate. That’s why they are called signaling leads. There are other leads like For Sale by Owner and expired listing leads but signaling leads are usually the most attractive to agents.