How To Determine Who Is A Quality Lead

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If you’re building a career in real estate, you’ve probably heard many people tell you just how important it is to generate leads.

People will give you advice about lead generation, but any experienced realtor knows that not all leads are created equal.

In fact, if your lead generation strategies are subpar, you might be generating a lot of leads — but they’re likely low-quality, and low-quality leads are typically a waste of time.

How can you identify high-quality leads and develop generation practices that attract these leads?

Read on to see why real estate wholesaling software might be the solution you’ve been looking for.

How To Pre-Qualify Your Leads Easily

There are several key metrics that determine the overall quality of a lead. In order to measure those metrics and assess a lead’s overall quality, realtors should take the time to pre-qualify prospective clients before soliciting them for business.

Pre-qualification should include an honest assessment of a lead’s compatibility with your services.

  • For example, are they in the market to buy or sell a property?
  • Do you offer a service that can serve their goals?
  • Do they have financial resources to support a business transaction?

Questions like these can help you determine whether a lead is worth pursuing, and the higher the quality, the more likely it’s a good match.

That’s why it’s worthwhile to invest in finding motivated seller leads for wholesalers. If you’re in the wholesaling business, lead generation is a huge component of your success.

You need to generate leads through every possible avenue and pre-qualify those leads in order to find the best ones. It’s important to conduct the pre-qualification process early so that you don’t waste precious time and energy cultivating relationships that are unlikely to pan out.

The Best Ways To Organize Your Leads

Assessing the quality of a lead is an imperative part of the process, but you should remember that your assessments are not the be-all, end-all. Sometimes a lead who initially fails pre-qualification comes back in a few months and is now considered a high-quality lead.

Situations like this may be uncommon, but it’s not unheard of, and it’s a good idea to always keep doors open. To this end, you should implement an organizational system to easily identify your lead ratings. You can use a tool like a spreadsheet to track information such as lead names, their sources, and their initial rating.

You can even color-code your leads to make it easier to identify high-quality prospects. Those who appear to be promising can be highlighted in green, while those who are questionable might be yellow. Leads that seem like a dead-end can be red.

If you’re wondering how to get property comps and use them in wholesaling deals, you should look for a bulk data supplier that specializes in property data. This information can be a major asset to any real estate professional.

Leverage data to weed out dead-end leads and devote your time and energy to high-quality leads.

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