How to get buyer leads and prospects to respond NYC

[jacky]

Hey guys, I'm having issues getting buyers that I meet or speak with to respond to me after the initial interaction. Many of them seem interested in working with me and seeing listings, but they never respond. What am I doing wrong? I've included some sample emails that I've been following up with below.

Hi Mark, Are you available to view some homes this week? Would you be interested with some new ideas as there’s more inventory coming back on the market! If there is anything different in your search parameters definitely let us know.

Hi Kelvin, How was your weekend? Are you available to view some homes this week? Would you be interested with some new ideas as there’s more inventory coming back on the market! If there is anything different in your search parameters definitely let us know.

Hi Louis, Any chance you're still active in your search? Would you be open to seeing a few similar ideas that have come on the market?

Hi TJ, Any chance you are currently active in your home search? Would you be open to seeing a few similar ideas that have come on the market? Please don't forget about the buyer broker rebate incentive we can offer you!

[Rgonkenn76]

Hi Jackie,
it takes time. Basically what I do is I screen the person out and try to ask them questions about what they are looking for, if they have another agent helping them out already or not, if they say no they don’t have anyone then I’ll explain the process and such. I always ask if they have a pre approval and basically go from there. I send them listings and if they respond back and provide me with the approval letter then I see they are serious. Out of 20 leads or so maybe 1 is real - and so lots of people are not always serious or ready to buy or sell too. You just have to keep trying! Don’t give up! But those leads you haven’t gotten response from - just follow up with them -

[jacky]

Thank you so much for your response and the encouragement! I've definitely heard that conversion rates from cold leads can be low, something like 2-3% supposedly nationwide according to a study by Zillow (presume this relates to their Premier Agent program).

However, one thing you mentioned which I could probably work on is actually sending them listings. After re-reading the emails to clients I posted above, I realize that I've been just spending too little time and effort. I've basically been asking them the same thing, whether they are still looking or ready to resume their search. But I haven't offered them anything of value while I'm sure there are tons of other agents actually spending time and sending them curated listing ideas.

[Rgonkenn76]

Yeah just ask them questions about what they are looking for - what area, get to know them a bit about why they are looking to buy or sell- depending on what t might be. For buyers is just a matter of letting them know you are fast, quick and yeah send them listings so they see what’s out there- but make sure they get approved - cause you don’t want to waste your time.

Basiclaly follow up daily to the ones you feel show interest- and you will see they will Work with you!!

[aslan]

The key is to show buyers that you actually care and are putting some thought into the ideas you're sending. This implies you are sending listing ideas in the first place. I know of too many agents who think it's okay to just send the occasional "Hi there, are you ready to begin your home search?" type of emails. The type of emails where the buyer hits delete immediately. Why? Because it adds zero value. There are 50,000 other licensed agents in NYC who can also offer to help a buyer with their search for free.

Here's a sample email that an agent wrote recently that didn't get a response. Names changed of course.

Greetings Debra!

I hope you are having a great week so far. My name is Jenny Craig, and I am a Licensed Real Estate Salesperson with ABC Realty. I specialize in the Downtown, Brooklyn area which is where I am originally from. My Broker, George Clooney, told me had a great conversation with you. I am wondering if you interested in the buyer rebate/closing gift he sent you and if you are available to look at some properties this week? Please let me know via email or phone, and I will gladly send you over some places similar to 150 Fifth Avenue. I look forward to hearing from you soon.

Thank you,

Jenny

She tried again, and this time sent an idea she had carefully picked out for the buyer. You can tell that she really put some thought into this.

Hi Debra!

I’m wondering if you’ll be interested in this beautiful listing. The price is more than the unit you originally inquired about, but the monthly charges for this available unit is a lot less. Hence, your monthly payments will be roughly the same. See link below.

Here is a list of added value 433 Warren Street brings over 150 Fifth Avenue:
*Warren has 3 baths, opposed to 2 baths at 150 Fifth Avenue
*Warren has a private garage that comes with the purchase price.
*Warren has 2 beautiful outdoor spaces
*Warren is almost 400 sq ft bigger than 150 Fifth Avenue
*Warren is a quiet tree-lined block central to all of the greater Downtown, Brooklyn shops and eateries.

As mentioned earlier, the monthly charges at Warren are a lot less and there is a tax abatement that expires in 2024. The monthly common charges are $634 and the monthly taxes are less than $60 a month. Whereas, 150 Fifth Avenue monthly maintenance is $1416 a month - twice as much as 433 Warren.

There is also room for negotiating the price since it’s been on the market over 90 days. You’ll get a very nice rebate from us for trusting us to help you with this big purchase. Check out the listing, and let me know what you think. I’m happy to send you more. In addition, please let me know if you are open to neighboring locations, for instance, Fort Greene, Park Slope, Prospect Heights or Clinton Hill. There are a lot of beautiful 3 bedroom condos available in those areas under 1 million.

Looking forward to hearing from you soon.

All my best,
Jenny Craig

Guess what? The buyer responded! If someone is seriously searching for a new home, they will read curated ideas that you send them. They may not respond, but they'll usually at least look. It may take 10 tries or more for them to respond, but you have to be persistent and add value each time. That means spending time and carefully selecting listings for them that they might actually be interested in. And that are actually still available!

Hi Jenny,

Thank you for getting in touch with me. In all honesty, I had inquired about the downtown Brooklyn apartment because it was so close to home and we were wondering what it would be like. My husband and I are still renting and are not truly at the point where we are ready to purchase. We are interested in seeing what is out there but it will likely be a bit more time before we can actually make the move. We are open to seeing what options are available in the neighboring areas you mentioned. We would ideally like a 3 Br with a parking option and nearby subways (preferably the A), all ideally in the price range of under a million which we know is difficult . Also, I didn’t receive the email with the rebate offer.

Thank you,
Debra

The story continues. Remember the goal is to learn more about the buyer's preferences as you go. No one will respond to a questionnaire request, but it's okay to ask a question here or there as you're sending them additional ideas!

Hi Debra,

I totally understand! It is really great that you guys are looking early. I love showing clients what’s out there, so lets definitely plan to meet as soon as you have a free weekday or weekend day.

Sorry you did not get the rebate email. Basically, we are offering you 1/3 of our commission if you acquire us as your Broker to represent you in purchasing your new home. That would be our gift to you for trusting in us to help you find and close on your new home. We value our clients and we’ll work tirelessly to you help find a home you love.

You mentioned the A Train line. Are you open to new condos near Utica Ave or Kingston Troop station in Bedford Stuyvesant? I know that is a little more over than the neighborhoods I previously named, but I just thought I’ll ask to see if that area would be desirable too you as well.

Let me know your thoughts. I’ll also send more options your way.

Best,
Jenny Craig

[Nidiri28]

Hi Jacky,

In regard to what Jenny and Rgonkenn said, I couldn't agree more.

You'll find that by including listing options with your e-mails will increase your chances in acquiring a client. Assuming this buyer is active, they will more than likely check out the option you send them, even if they do not respond. I include a few quick bullet points under each unit (# of BR&BA, Maintenance cost, significant amenities, etc.,)

I have had success with e-mails on the third, fourth, even fifth try! If you are a member of REBNY and have access to Nestio, for example, you can set yourself up with automatic alerts fitting the criteria for the buyer. I wouldn't suggest overwhelming the buyer with calls/e-mails daily, however, one e-mail with a handful of options a week is not very time consuming and can prove to be very beneficial.

Persistence is key, especially in a real estate environment as competitive as NYC.

Good luck!

[aslan]

Here's an example of a professionally written email that was sent post an open house by a NYC agent who hosted it. Notice the attention to detail: perfect grammar, spelling, punctuation etc. Especially important if this is your first contact with a buyer. Also notice how the email offered some value (information on the listing) and only asked for something in return (information on the buyer's criteria) at the end. It's a give and take!

Hi Jorah,

Thanks for stopping by our open house yesterday for 555 Fifth Avenue Apt 5! I wanted to let you know that we do have an accepted offer, though nothing is final until a contract is signed if you'd still like to submit one.

In case it was not a fit for you, would you be open to seeing some similar listings that we know are still available? 3 beds under $5mm on the Upper East Side and surrounding neighborhoods, does that sound about right?

We hope to hear from you!

Best,
Jordan