Leads that sit on the fence for too long can be frustrating. Here are some of Abe and Greg’s tips to help you guide them forward!
How To Tell a Lead Is on the Fence
There are many indicators. Maybe they are asking lots of questions or doing things that delay the closing of the deal.
This harms both you and your lead as:
- You risk your buyers or sellers making a mistake.
- You lose your leads to another sales agent because you were too slow to address their concerns.
Your leads typically sit on the fence because of concerns that stem from their fear of the uncertain.
The Value of Moving Forward
You need to refocus your conversations around the logic of numbers. This is important since most of your leads care about how much they can save or gain from holding out on a deal. It is also important to keep in mind that you shouldn’t sound like you’re manipulating them to move forward through “doom and gloom” narratives. These narratives give your leads the impression that you are just there to gain a commission.
You need to make your leads realize that you are there to help them make an informed decision. Knowing that taking their time will cost them more money in the long-term will help them move forward with the deal.
In the same breath, you also have to make sure that sellers grasp that they are losing time and risk being bullied by buyers to acquiesce to unfavorable terms.
Having more time to look for properties gives you more leverage in the negotiation and makes you less vulnerable to overpayment and stress.
Fear of Missing Out: What Will It Cost Them?
Many of your leads want to hold out on closing deals because of the fear of a market crash. You have to re-shift their focus on what they could miss out on if they sit on the fence for too long. Take the predictions about the real estate market at the onset of the pandemic. Many people feared that the market would crash and held out on their offers. They lost more than what they could’ve earned if they closed their deals sooner.
Lower the Barriers (Fears) of Buying or Selling
It is important to let your buyers know that you can protect them. You can demonstrate this by writing a contingency for every fear that they may have before buying a property. This allows the buyers to have a sense of ownership with the properties, which in turn makes them more likely to acquiesce to counter-offers.
Share Success Stories
Let your clients know that they are not the only people with these concerns. Proceed by demonstrating the steps you took that helped your other clients in overcoming these fears. Of course, you have your own success stories to share. So, make sure to relate them to your leads.
Focus on the Problem and Follow Up Sooner
A lot of agents focus solely on making the sale without trying to figure out the reason behind why leads sell or buy properties.
Ask why they even want to sell their home? Maybe it’s because they want to get rid of high property taxes or the massive equity attached to their property. Figure this out and refocus your conversations around these problems and solve them for your clients.
Follow up with your leads sooner as well and help them focus on their whys instead of your dealer’s price or terms and conditions. This way, you are helping your leads zero in on their goal instead of being hesitant.
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