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What is the Difference Between a Hot Lead and a Cold Lead?

Realtors are on a constant look out for real estate leads, so how do they recognize the hot lead from a cold one?

Our definition of a hot lead in real estate is one that is likely to generate a transaction within 30 to sixty days. In other words, the prospect is willing and eager to talk about the business of buying or selling a property or piece of land.

Hot real estate leads make the real estate agent's job much easier. He is able to provide the expertise needed to either find the property or home the buyer is in need of or to put into action the selling plan that is best for the property under consideration.

A cold lead by definition is cold, not having any intention of taking action in the foreseeable future.

A cold lead is one where the real estate agent phones the person concerned without really knowing if he is in the market for buying or selling. Just imagine if someone you didn't know called you out of the blue and asked to sell your property for you. You'd feel like being rather rude to him, especially if you had no intention of selling.

Following up a cold lead is difficult for any real estate agent. For starters, no one likes to put themselves into a place where they could be abused. They end up feeling upset and rejected and their business will suffer as a result. Not only is there an emotional upset, but they have spent a great deal of time with nothing to show for it. That does not make good business sense.

Bridging the Age Groups
Will BOOST your Business!

red arrowMillennial Age Group: 29 Years old or Younger

red arrowGeneration X: 30 to 44 years of age

The wants and needs of each generation can be completely different. Knowing how different generations approach the world and business can affect your bottom line.

Cold calling creates the wrong impression often resulting in developing a bad reputation rather than a good one. People will wonder why they are being hounded about buying or selling. They will remember the name because they dislike it and if the time comes when they must sell or buy something, they'll be more likely to contact the competition.

How much better would it be to at least warm up some of those cold leads before picking up the phone? Successful real estate agents will do this by making themselves known in a variety of ways.

Advertising brochures delivered around the community where they work is one way. These should be written in a friendly and personal manner. Remember, you need to gain trust and sell yourself as well as your business.

However as we mentioned previously in lead generation, prospective clients are looking for information, and lots of it, long before they intend to buy or sell.

A good plan might be to provide prospects with all the answers to the many real estate questions they may have. There is one excellent yet simple system that works that way and will generate leads for you. In fact it can provide you with all the real estate leads you want or need. Check it out.

The Is Gold!

The Prospecting Success Trio!

The Prospecting Success Trio

Once you master lead generation, convert and commit those real estate leads to appointments, deliver a dynamic listing presentation, and then use our secrets to convert and commit the buyer every time... You'll have all the pieces you need to solve the great success puzzle in the Real Estate Sales Process.

Together, these three programs give YOU the Secrets you need to SOLVE the Hardest Parts in Real Estate Sales. More details here.

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