4 Follow Up Commandments for Real Estate
By Colin Ryan
About Agent Basics
The best real estate agents know that converting leads into customers is about being persistent. Still, there’s a right and a wrong way to follow up. Here are four commandments for pursuing real estate leads.
Thou Shalt Have a Clear Objective.
Don’t just “reach out” or “touch base.” When contacting a lead, always have a concrete goal in mind. Are you hoping to get their email address? Offer them a piece of content? Fill out a form? Book an appointment? Whatever your objective is, set your sights on achieving it.
To ensure you stay focused, you should also create a script or workflow for these interactions. Whether it’s an email template or a few phrases for telephone calls, honing your language will help you make an impression and achieve your goals.
Thou Shalt Try Another Channel.
In the old days, leads were only reachable via landline telephone and snail mail. Today, you can contact a lead by home phone, cell phone, email, social media, etc. What’s more, habits vary widely in terms of which method people use most often: according to one estimate, for instance, over half of American homes don’t have or use their landline. If you can’t reach someone via telephone, be sure to try email or social media before you throw the lead away.
Thou Shalt Take “No” for an Answer.
Remember, following up is as much about disqualifying leads as it is about turning them into customers. A “no” is almost as good as a “yes” because it lets you know where you stand and prevents you from investing any more time in a lead that won’t bear fruit.
As time goes on, you’ll learn to distinguish which “maybes” are worth pursuing, and which are not. For now, let leads know up front that it’s okay for them to say no–and welcome that answer when it comes.
Thou Shalt Not Stop at a Signature.
It’s important to stay in contact with former customers, even if they don’t plan on buying or selling for the next several years. First, there’s a good chance a satisfied customer will know someone who is on the hunt for a new home, and if you’re top of mind, you may get a referral. Second, staying in touch with existing customers lowers your prospecting costs. After all, it’s cheaper to stay in touch with someone you’ve already done business with than it is to convert a new lead.
Finally, when a former customer does decide to move, you stand to profit even more–after all, there’s a good chance their second home will be worth more, and you may have the opportunity to sell their first.
Published on July 12, 2013