It’s not just insurance agents. Today, sales professionals of every persuasion are wondering how to get leads for their business. Insurance sales techniques are in fact very versatile. Recently, a couple of real estate agent friends asked me if aged leads could work for their business model. My answer: You bet! We’ve got the best aged leads!
The 3 Aged Lead Types Real Estate Agents Can Buy
There are a few options for real estate agents looking to get more leads for their book of business. The key is to look for homeowners who are motivated to make a change. As they see it, it’s not necessarily that they are thinking of selling. Still, there’s something about their homeownership investment that they’re looking to change. I would recommend taking a serious look at three types of aged leads:
- Home Insurance
- Mortgage Refinance
- Solar Installation
With all three lead types, you’ve got a property owner who is financially well-situated and looking to take the next step. The next step could be reinvestment into the property, via solar installation, shoring up their investment, via home insurance, or saving money either now or much further down the road, with a mortgage refinance. In each case, you’re dealing with a homeowner who’s got his affairs in order, who likely has some savings (that could be a down payment for a new home), and who has some equity in his current property.
How These Aged Leads Can Help Your Business
Now the question is: how do I turn such a situation to my advantage — as a real estate professional. Now, this is not as crazy as it first sounds. At heart, you’ve got a prospect who’s restless. He’s got the house, he’s got the mortgage, he’s relatively financially well-positioned, and looking for something more. He thinks that could be in the form of home insurance, mortgage refi, or a solar investment. And it could be, but it could also be something else.
Insurance professionals get a lot of useful information when they buy aged internet leads. Many such leads come with “X date” data. Now what this is for the uninitiated is the date at which a current home insurance policy expires or is up for renewal. Most home insurance policies renew on an annual basis.
This data is important for sales professionals for many reasons. First, we want to contact our prospects and get them thinking about buying our insurance product before they renew their current policy for another year. We want enough lead time to nurture these leads and close a sale before such x dates, and we want to buy new batches of leads sorted by x dates, so we’ve always got a great supply of leads approaching their x dates. For homeowners, x dates are also important. Such anniversaries are a time when prospects take stock of their choices and the future. And for a real estate agent like yourself, this is a great opportunity to talk with leads about the potential to sell or purchase another home.
Another great bit of info — that’s included with my leads at The Aged Lead Store — is the year the house was built. This data point could give real estate agents an edge, letting them target leads whose homes are at that certain age when property owners start looking to make a change.
And of course, a real estate agent in Houston isn’t going to be interested in aged leads for Honolulu, so all our aged leads can be filtered by zip code radius so that you can buy well-qualified leads for your area — and of course at a great, affordable price.
What to Know When Working with Aged Leads
The more I think about it, the more I think aged leads and real estate agents could be a great pairing. Of course, it’s important to understand a bit about how to properly work with aged leads before diving in.
By aged lead, we mean a lead that’s just a bit older, often 30, 60, or 90+ days beyond the initial request for a quote. These leads are discounted, because of their age, but they’re no less valuable for sales professionals than real-time fresh leads. Somewhere between 2–5% of leads purchase immediately, often from the first industrial-scale agency that contacts them, and often within the first hour after their query.
But what about the other 95%? Studies show that those leads receive a barrage of sales calls, sometimes paralyzing prospects with too many choices, or sometimes just turning them off from buying entirely. This flurry of phone calls can be intense for consumers, but dies away quickly — 95% of agents never contact a lead after the first week.
50% of leads do close, eventually. Thus 45–48% of sales are found in aged leads. This is typically the prospect pool that our insurance professionals target. These folks often have questions, concerns, and sales objections that need to be answered, and also need to build up trust with a sales professional before buying. But buy they do. And when aged leads can be had for pennies on the dollar compared to real-time leads, this is a fantastic return on investment for sales professionals.
How to Get Started with Aged Leads
Because aged leads are so much cheaper, and because they’re older, aged leads are often a numbers game. You buy a large pool of leads and work through them systematically. Typically, a sales professional uses automation to qualify and nurture these leads — tools such as an auto dialer, a customer relationship management (CRM) software, calendar alerts, email drip marketing, lead magnet pages, and more.
However, one thing to keep in mind here is that it’s less important for a real estate agent whether a lead has bought a solar installation investment, or renewed his home insurance — since selling such products isn’t the aim of you, the real estate agent. So, real estate agents may be at an advantage here, where you may be able to start a conversation — even with a prospect who’s bought — and still turn that person into a future housing client.
The sky is wide open here. There are a lot of great opportunities with aged leads for real estate agents. Of course, a lot of it will depend on you. You’ll have to get these leads talking about the needs and concerns, why they wanted to save money or invest in their future. Of course, if you’re a talented professional this may be right up your alley! So if you are thinking about expanding your real estate business — yes, I think you should try aged leads. There’s a lot of opportunities here, just waiting for the right professional to take advantage of it.
Ready to take the plunge? Fill up your pipeline with a fresh supply of the best aged leads from The Aged Lead Store. You’ll find thousands of sortable aged leads, ready to boost your sales, whether your business is auto, life, health, Medicare supplement or homeowners insurance, annuities, auto warranty coverage, mortgage refinance, real estate, or solar installation.