Every agent out there wants the hottest, newest lead. 

But in this climate with rising interest rates and low inventory, it’s become more competitive for real estate agents. Fewer homes are selling than last year, and leads ready to transact in the first 30 days aren’t that common anymore. 

Since 2020, many agents have stopped prioritizing the follow-up and nurture game. As a result, their skills have eroded. So I’m walking you through five ways to reactivate cold leads. 

Pick Up the Phone and Call

Unbelievable, right? 

This is the easiest thing you can do. Take action by getting on the phone and following up with old leads in your database. 

The script is as simple as, 

Hey Nick, it’s Tom Toole here with RE/MAX. I’m following up with you like I said I would. I know we talked X months ago, and I wanted to see if these are still your plans.”

Before the call, look through your notes and review what you discussed in the past. From there, get into some discovery questions about what’s happening now and if their plans have shifted. 

Give Them Something of Value

Instead of the standard check-in call every time you follow up, mix it up by sending your leads something of value. 

Share a video about the latest Federal Reserve meeting, and then follow up with a phone call to see if they have any questions. Or send an article that speaks to their pain points, and again—follow up with a phone call. 

Deliver value, then call to re-engage.

Send a Market Update

This piggybacks off the last tip. Not everyone follows the market closely, so be sure you share with your leads what’s happening today versus the beginning of the year. 

Break down the market update and explain what it means for buyers and sellers and how to navigate the current market. 

This is the number one question about real estate. Give people in your database local stats and then follow up with a phone call to reactive that cold lead. 

Don’t Let Leads Get Cold

You can’t go back and change what happened last year. But thinking ahead, don’t let any more leads go cold.

A lot of agents call or text a lead once and don’t do anything else. That’s not how it works anymore. We’re coming off an extraordinary run when we didn’t need to do a lot of follow-up. People had real intent, and the market was aggressive. 

But now, we’re getting back to a lead nurturing business. If you don’t let leads get cold in the first place, you won’t have to worry about reactivating them down the line. 

There’s a cadence to nurturing your leads:

  • Hot leads. These leads are ready to make a decision in the next 90 days. All hot leads need communication once a week—preferably with a phone call.
  • Nurture leads. Nurture leads are three to six months out from making a decision. Call these leads every other week. 
  • Watch leads.  Watch leads are six to twelve months from making a decision, and you need to call them once a month. 

Now you have a cadence for your calls to ensure your leads don’t go cold. And remember—the goal of all these calls is to set an appointment.

Reconnecting with Leads is a Huge Opportunity

Agents get nervous and think cold leads will be ticked off because you haven’t followed up. But many people don’t remember the last time you talked to them. That’s why a high cadence of follow-up is so important. 

This is a major opportunity to reconnect with people in your CRM. Maybe something changed in their life. Maybe they have new plans. Maybe they weren’t ready the first time you talked, but they are now. 

You’ve already beaten 90% of the market by taking action and going after the opportunity. You have the playbook for reactivating cold leads. Now all you need to do is pick up the phone.