In the real estate industry, the more you are able to convert your real estate leads into clients, the more your fortune increases. Keep this in mind, if real estate follow-up was a race, it is a marathon and not a sprint. This implies that cutting off contact after a short while means you dissolving a relationship that can yield more in due time.
Most real estate agents that all they need to get and keep clients is a good lead generation strategy. However, as we know, there are lots of realtors in the business and you need to prove yourself as valuable before you can hold down a client. As an agent, you should learn to exert the same effort you do on generating leads into following up your real estate leads.
First, every real estate agent knows a primary rule in the real estate bible which says “initial response time is key”. This means that after generating a lead, you are expected to call your real estate lead within the net 15-20minutes. However, this is typically a basic tip in following up your lead.
The truth remains that real estate lead follow up isn’t a quick-sales scheme. It is a process that and the time taken isn’t fixed. More than 60% of leads you contact once may not buy from you for about 3 months. This means there are chances this 60% will eventually buy. This is why real estate lead follow-up is essential.
That being said, the place of keeping proper track of your real estate leads cannot be overemphasized. As a realtor, you are at a major disadvantage if you do not follow up your leads properly. Here are some tips to follow up your real estate leads.
Set up a trackable database
Just before you get discouraged, this isn’t exactly the easiest route to turn your leads into full-blown clients. However, it is a basic but important part of the process. In setting up your database, separate your real estate leads into sections and categories. For instance, you should have headings like who wants to buy, buying within 3 months, clients that want to sell etc. This will help you know where the chunk of your clients are and who falls where.
Setting up a trackable datat#base helps you clean up your contact. In the sense that if you are able to turn this database into a workable list then you are on your way to making some good money. You should also include the times you are to contact these clients
Turn your clients to your friends
This simply means personalize your communication. Try as much as you can to turn your clients into your friends. This way, you earn their trust over time. Your messages and emails should be more friendly and relaxing rather than formal and uptight. Personalizing your messages, emails and conversations generally go beyond just adding the leads first name.
- Look at their behaviour. What properties were they looking at? If it’s an older, cold lead, ask them if they’ve made progress on their home search.
- `Segment your leads in your database (with detailed tags and categories) so you can send bulk emails/texts while still pinpointing their needs.
- Help them decide what to do next. Ex: You’ve taken X action. Are you ready to go ahead and move forward with Y and X?
- Be aware of time and location. If you’re sending something close to a holiday (maybe the Superbowl) or a current event, throw in a reference or friendly holiday greeting to give the message a more organic feel.
- Double check for “robot language.” Of course, you want to sound professional, but do you sound human? Friendly? Imagine reading the email or text yourself and consider how you would respond.
Measure your performance
Organized database? Check. Tailored outreach? Check. Now let’s get to measuring response rates and marketing efforts so you can get a clear picture of what’s working in your follow up strategy and what could use some improvement. You should track everything from phone calls to email campaigns to texts. Everything.