Real Estate AI For Consistent Lead Follow-Up
The money is in the follow up! We’ve heard this over and over again, the problem is that most agents just suck at follow up and are far too busy to consistently do this.
Right now we’re having over 20,000 AI conversations a day and are getting close to 50% response rates with over 30% of those positive!
Check out a few of the conversations here …
The Importance of Following Up to Close Sales
In real estate and any industry, following up with leads is a fundamental part of the sales process. It lets you touch base with your leads and initiate conversations that will make you gain enough knowledge about their preferences and requirements in a property.
Following up with your leads multiple times – whether through email, calls, or chats – also allows you to upsell other relevant home listings you offer. Your chances of closing a sale are higher when you can consistently show homes that truly fit their likings and specifications.
“if you follow up with web-generated leads within 5 minutes, you’re 9x more likely to convert them. But after 5 minutes, the chances of qualifying them fall by as much as 10x.”
In other words, prompt follow-up with your leads is crucial to your success as a realtor. However, following up can be a grueling process, with considerable costs at stake. It eats up a lot of time, and let’s be honest, keeping intelligent conversations with hundreds of people at once requires great strength to pull off.
For all these reasons, having a structured follow-up system in place is a huge advantage. Having too many leads to follow up won’t break a sweat if you use the right tools.
AI TOOK US FROM 30% TO 75% CONVERSATION RATE
“Salespeople who have adopted AI have increased leads and appointments by up to 50%, which helped them develop and sustain relationships with leads that converted later on.”
CRM and AI — Increasing Lead Conversions in Real Estate
If you want to double your lead conversions, leveraging automation with a CRM system and AI is a good place to start.
Using both these systemized tools to follow up with your leads not only streamlines your sales process but also frees up your time to focus on your top priorities.
Why Use a Real Estate AI for Lead Follow-up?
Having a real estate AI for lead follow-up brings so many benefits such as:
Real-time and 24/7 Responses to Inquiries
Web-generated leads can skyrocket to thousands per month, making it impossible for you to meet the recommended “within 5-minute” response time.
And even if you do manage to respond, the quality of conversations may suffer. Having AI to answer questions promptly is the best way to sort out the volume of queries.
While a potential buyer is still looking around for houses and has not made a final decision yet, an AI can answer his or her questions about your home listings right away. It’s the same thing as having a personal assistant immediately engage with your clients round the clock, even when you’re not there.
Consistent, Smarter Conversations
An AI is capable of initiating and keeping intelligent conversations with your leads, regardless of volume. On the other hand, a real estate Inside Sales Team (ISA) won’t keep up when it comes to the number of leads and the quality of conversations.
Real estate AI for lead follow-up can maintain smart discussions with consistency while getting all your bases covered. It can gather the usual data you need to ask relevant questions, which is one less thing you need to worry about.
Increased Selling time
When you utilize real estate AI for lead follow-up, you spend less time exploring or qualifying leads. Instead, your precious time is spent on negotiating smartly or closing of deals. You are spared the trouble of gathering data about leads, as you get to prioritize activities that will put you closer to converting, like preparing for home showing appointments.
Clerical tasks like entering data in the CRM or updating your database can be managed by an AI with speed and precision, freeing up your time to do face-to-face selling.
Decrease call time
A Harvard Business Review study shows that sales teams who used AI were able to reduce their call time by as much as 60–70%.
It saves your energy from calling thousands of leads to collect their data. With the help of an AI, you can dedicate your time and attention in aligning solutions, so that by the time you meet with a prospective homebuyer, you’d know exactly how to win their yes.
Luckily, Ylopo’s Raiya, a text-based real estate AI for lead follow-up can offer all these benefits so that you don’t fritter away your resources on the exploration phase and go all out on selling and converting.
What does Raiya Mean?
Raiya is short for Real Estate Artificial Intelligence Your Assistant. However our clients have the option of using their own names for the A.I.
How Does Raiya Work?
Raiya suggests property listings based on the person’s interests —> Prospect engages —> Raiya schedules an appointment for follow-up
The moment a new lead registers online or a past prospect re-engages with you, Raiya does its job straight away. The AI will begin adding value by recommending properties based on the prospect’s interests within a few hours.
When the prospect starts asking questions and responds to queries, it will prompt the AI to continue with the dialogue until it steers the conversation to scheduling an appointment with the prospect.
The talk flows naturally like any human-to-human encounter. The exchange of messages aims to identify what the potential buyer’s needs are, and basically, get all necessary information about the person.
Information You Can Gather with Raiya
In the conversation, Raiya collects the data you would need to get a better picture of what your prospect’s requirements are.
For example, Raiya kicks off the chat by asking their timeframe (“When are you moving in?”).
Next, it can ask the location of the property they want (“In which city do you want to live in?”).
And when the prospect answers, Raiya will continue to ask a series of questions to drill down on their specific needs, such as their budget requirements, their bedrooms or bathrooms preferences, etc.
Later in the conversation, Raiya can also ask the prospect of their pre-qualification status (“Are you qualified for a loan or will it be a cash payment?”), and gather more essential customer data (“Are you a homeowner? Are you talking to other real estate agents?”).
You should consider all these data when you present relevant and personalized property listings to the prospective homebuyer.
Why is Raiya a Better Real Estate AI for Lead Follow-up?
✅ Uses REAL home search data
Raiya is a real estate AI for lead follow-up like no other because it delivers automated and consistent engagement with leads based on actual home search data. It utilizes all the data gathered on each user as they search for home listings on a specific website.
✅ Integrated with the Ylopo platform or their preferred CRM
It is possible to integrate Raiya to your Ylopo platform or even to other CRM you prefer. Seamless integration means you get accurate data and waste no time searching for the information you need.
✅ Cost-effective
Raiya runs at an average of $200 compared to the hefty price tag of a full-time ISA, which is around $3,000-$5,000 every month. Another benefit of Raiya is that you don’t have to train your new hire or stress over your ISA leaving unexpectedly once they start getting too good or bored with their job.