Whether you’ve just begun your career as a real estate agent or are exploring new strategies to boost sales, Jessi Healey explains how a sales funnel can be a great tool and strategy to grow your business.
One year following the launch of Inman’s The Basics newsletter, our weekly dispatch of must-reads for new agents, we’ll spend the month of August digging deeper into what it takes to survive against the odds as a new agent in a tough market.
The buyer’s journey, a sales funnel, automation, marketing funnel — all of these buzzwords sound familiar but are still confusing to many agents.
Understanding and using a sales funnel can be a great tool and strategy to grow your business. Whether you’ve just begun your career as a real estate agent or are exploring new strategies to boost sales, understanding the sales funnel is critical.
If a sales funnel is unfamiliar and you’re not entirely sure of its application in real estate, don’t worry; you’re not alone. This guide will provide you with a basic overview of a sales funnel, how it’s used, and the tools you’ll need to implement one.
What is a sales funnel?
Imagine a large funnel used in cooking, broad at the top and narrow at the bottom. In the same way, a sales funnel is a model that represents the journey potential clients must take from the moment they become aware of your services to the point they make a purchase (buying or selling a property). The funnel itself symbolizes the gradual reduction in prospects at each stage, as only some will progress through each step.
The stages of a typical sales funnel include:
- Awareness: This is where potential clients first become aware of your services, either through advertisements, word of mouth or other marketing methods.
- Consideration: Once they know about you, they might want to learn more. At this stage, they visit your website, follow you on social media or sign up for your newsletter.
- Decision: After gathering sufficient…