Lead follow-up is one of the most important duties a real estate agent has, and one that represents their best chance to achieve success. I have a system I want to introduce you to that will allow you to perfect your lead follow-up.
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Gary Keller tells us that there are a lot of things we can do every day, but only five jobs that move the needle at a high level. Those top five job duties are as follows:
You may be doing that in your own business—cherry-picking specific pieces of business that are easier at the expense of other pieces of business that are longer-term or require more development.
I want to recommend, then, a great system for following up with leads. The first step is to get a binder to store all of your hot leads. Buy a tab for each month, from January to December. Have a separate sheet for your leads that has contact information and a little bit of other information on the lead. Every time you generate a piece of business, make a lead sheet that lists the lead’s name, contact information, motivation, and time frame. Those pieces of information will let you know whether or not it’s a hot lead.
Once you’ve got that contact information written down on your sheet, hole-punch it and put it inside of the month that they’re planning to make a move. This doesn’t mean you’re going to wait to call them until that time; it just means that you’re categorizing your folder (or ‘lead book’) by the date that these clients think they’re going to make a move. For each month, on one day of that month, you want to call through the entire lead book.
- Lead generation
- Lead follow-up
- Going on appointments
- Negotiating contracts
- Practicing what to say
You may be doing that in your own business—cherry-picking specific pieces of business that are easier at the expense of other pieces of business that are longer-term or require more development.
I want to recommend, then, a great system for following up with leads. The first step is to get a binder to store all of your hot leads. Buy a tab for each month, from January to December. Have a separate sheet for your leads that has contact information and a little bit of other information on the lead. Every time you generate a piece of business, make a lead sheet that lists the lead’s name, contact information, motivation, and time frame. Those pieces of information will let you know whether or not it’s a hot lead.
Once you’ve got that contact information written down on your sheet, hole-punch it and put it inside of the month that they’re planning to make a move. This doesn’t mean you’re going to wait to call them until that time; it just means that you’re categorizing your folder (or ‘lead book’) by the date that these clients think they’re going to make a move. For each month, on one day of that month, you want to call through the entire lead book.
If you’re not bugging them, you’re not helping them remember you.
In my conversation during this call, for example, I would want to know if the lead is still planning on doing what they said they were going to do when they said they were going to do it. Whether their answer is yes or no, I’d make it apparent that I want to keep following up with them and eventually schedule an appointment.
The reason I would want to keep calling them and telling them to follow up with me is that I want to be the person that they remember as their real estate agent of choice when the time comes for them to make to make a decision. It’s hard to be anyone’s real estate agent of choice if they can’t remember you.
Many times, people tell me, “Oh, we can’t call them that often—they already know to call me. I don’t want to bug them.” That’s a fatal mistake. By not bugging them, we’re actually not helping them remember us. If somebody tells me I don’t have to call them as often as I am, I tell them the reason that I follow up is so that they know they’ve got someone in their corner taking care of them. After that, I ask how often they would like me to follow up with them and how I should go about doing so.
Either way, I will still probably call them about once a month. If they’re getting closer to their move time, I’ll probably increase that to once every couple of weeks. Even if they tell me their move time has been pushed back a year, I would still call them pretty regularly. If you’re the guy who calls back, you will get the business. It usually takes between seven and 12 contacts to win business from someone.
What leads do you have laying around your desk that you haven’t followed up with recently? Try reaching back out to them and finding their motivation and time frame so that you can add them to your follow-up book. The reason I tell you to use a follow-up book is because I know that the best system is the one you’re going to use. Sometimes, the paper in front of you is the best way to get that done. I’ve used plenty of expensive software systems in real estate, and it’s easy to forget to insert data. In turn, we forget to use that data regularly. That’s not an effective system.
If you have any more questions about following up in your business or converting it, please feel free to give me a call or send me an email. I look forward to working with you soon!
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