Quickly Identify Your Hot Real Estate Leads

Can you relate to the following scenario?

Someone contacts you about buying or selling a home. You've added them to your real estate contact management system and believe that they're a good lead as you've had many phone calls and email chats with them over several weeks. But eventually, time goes by and nothing happens (you don't hear much from them). You then view this real estate lead as a "dead end" and someone who has wasted hours of your precious time.

If you can relate, you'll want to read on. We're going to explain the difference between a hot prospect and one that's only casually interested in having you represent them in a transaction.

So, what's a hot prospect?

It's certainly not someone who simply asked to get your monthly real estate newsletter or called to ask you a question. Genuine hot prospects are those people who have clearly indicated to you that they will likely buy or sell a home (or both) within the next six months and have a clear reason for doing so.

Let's break it down a bit further.

A hot real estate lead should meet the following conditions:

1. They've expressed that they'd like to work with you (specifically you and not another agent).
2. They know when, where, or why they want to buy or sell, and they know their price range. Ideally, buyers also have financing already pre-approved.