It's no secret that real estate lead follow-up is key to success in the industry. However, many agents struggle with getting their team on board with following up properly. In this blog post, we will give you five tips for following up with real estate leads the right way, as well as advice on getting your team to do a better job of following up.
By implementing these strategies, you'll be able to reconnect with potential clients and generate more business!
Follow Up: Why Is It Important?
As a real estate agent, following up with your leads is important for a few reasons. First, it shows that you are interested in helping them find their perfect home. Secondly, following up gives you an opportunity to build a relationship with the lead. And lastly, it allows you to stay top of mind in case they are ready to make a move.
Unfortunately, many agents don't see the importance of lead follow-up, and as a result, they don't do it. Only a small percentage of buyers said their agent followed up with them after their home purchase. This is a missed opportunity!
If you're not following up with your leads, you're missing out on potential business. But how can you get your team to do a better job of following up?
Step 1: Make It a Habit
The first step to getting your team to follow up is to make it a habit. You need to have systems and processes in place that encourage agents to follow up with their leads. For example, you can create a system where agents are required to make two attempts to reach a lead within the first week after they receive the lead.
If you make following up a habit, it will become second nature for your agents. And eventually, they will start to see the benefits of following up and will be more likely to do it on their own.
Step 2: Develop Effective Strategies
The second step to getting your team to follow up is to develop effective strategies. There are a lot of different ways to follow up with leads, but not all of them are effective. You need to find the right mix of strategies that work for your team.
Strategy 1: Offer Value
One of the best ways to follow up with leads is to offer them value. This could be in the form of helpful resources, tips, or even just a personal call to check-in. Whatever you do, make sure you are providing value that will help the lead.
But what is value?
Value is anything that helps the lead move closer to their goal. For example, if you are following up with a lead looking to buy a home, you could provide them with resources on getting started. Or, if you are following up with a lead selling their home, you could provide them with tips on preparing their home for sale.
No matter what, make sure you are offering value with each and every follow-up.
Strategy 2: Personalize Each Follow-Up
Another effective strategy is to personalize each follow-up. This means taking the time to write a personal message to each lead.
With so many leads, it can be tempting just to send a generic follow-up. But this will only hurt your chances of connecting with the lead.
A personal message shows that you care about the lead and are interested in helping them. It also allows you to build a relationship with the lead. So take the time to write a personal message for each of your leads!
Strategy 3: Be Consistent
The final strategy is to be consistent with your follow-ups. This doesn't mean you need to follow up with a lead every day, but you should have a consistent cadence.
For example, you could follow up with a lead once a week for the first month and then once every two weeks for the next two months. Or, you could follow up with a lead every other day for the first week and then once a week for the next month.
The key is to find a cadence that works for you and your team. And then be consistent with it!
Strategy 4: Set Up a Schedule
One way to be consistent with your follow-ups is to set up a schedule. This could be a daily, weekly, or monthly schedule.
For example, you could set up a daily schedule where you follow up with leads in the morning and then again in the evening. Or, you could set up a weekly schedule where you follow up with leads every Monday, Wednesday, and Friday.
The key is to find a schedule that works for you and your team. And then be consistent with it!
Strategy 5: Offer Last Minute Availability
If you want to close more deals, you need to be available when your clients are ready to buy or sell. This means being available for last-minute appointments, phone calls, and even emails.
The best way to do this is to set up a system where clients can reach you 24/7. This could be an after-hours phone number, an email address, or even a live chat on your website.
No matter how you do it, make sure you are available when your clients are ready to buy or sell!
However, another strategy that many Realtors use is to offer the client a small window to set up a sense of urgency. When you follow up with a client, try to set up an appointment or phone call within the next 24-48 hours. This will help to create a sense of urgency and get the client to take action.
Step 3: Documentation
Now that we've looked at several effective strategies, let's see how we need to implement these in order to make sure our follow-ups are successful.
Your team should make sure you have a system in place for following up with leads. This could be a CRM (customer relationship management) system, a spreadsheet, or even just a notebook.
If you don't have a system in place, it will be very difficult to keep track of your follow-ups. And if you can't track your follow-ups, you won't be able to improve them.
Secondly, they need to document every follow-up. This means taking note of the date, time, method (phone call, email, etc.), and even the results of the follow-up.
Documenting your follow-ups is critical for two reasons. First, it will help you track your progress and see what's working and what's not. Second, it will help you improve your follow-ups over time.
Step 4: Get Creative
The final step is to get creative with your follow-ups. This means thinking outside the box and coming up with new and innovative ways to follow up with your leads.
For example, you could send a handwritten note, create a video message, or even offer a free consultation. The key is to be creative and find what works best for you and your team.
How to Develop a Follow-Up Culture on Your Team
If you want your team to be successful, you need to develop a culture of follow-up. This means making sure everyone on your team is following up with their leads regularly.
The best way to do this is to set up a system where everyone is accountable. This could involve setting up weekly or monthly meetings, sending out daily or weekly reports, or even just setting up a group chat where everyone can discuss their follow-ups.
Another way is to offer incentives. For example, you could offer a bonus for the team member who closes the most deals. This will help motivate your team and ensure they follow up with their leads.
Spam vs. Follow-Up: How to Stand Out
No one likes being spammed by businesses, especially when the client is not ready to commit. So, how can you make sure your follow-ups are not mistaken for spam?
With so much spam out there, it's important to make sure your follow-ups stand out. The best way to do this is to personalize your follow-ups. This could involve using the lead's name, asking about their specific needs, or even sending a personalized video message.
What About Old Stale Leads?
If you have old, stale leads that you haven't followed up with in a while, don't despair. There are still ways to re-engage with them.
One way is to reach out and see if they are still interested in buying or selling. This could be done via email, phone call, or even a personal visit.
Another way is to offer them a special deal or discount. This could be a percentage off their purchase, a free home appraisal, or even a free consultation.
The key is to reach out and see if they are still interested in working with you. If they are, then you can try to re-engage.
However, you should consider the timing, have a valuable reason for calling and have a clear method in mind when you reach out.
For example, you don't want to reach out to a lead who just bought a home and try to sell them on your services. This is because they are not likely to be interested in working with you at the moment.
It's also important to have a clear method for reaching out. You could use email, phone calls, or even social media. But make sure you understand the client and their preference.
For example, if your client is a Millenial, they may prefer texts or social media. But if your client is older, they may prefer a phone call or email.
Make sure you cater to your audience and respect the client's wishes. If they make clear they don't want to be contacted, then make sure you honor that request.
Converting a Lead Into a Sale
If you've followed the steps above, you will increase the chances of converting a lead into a sale.
The key is to be patient, consistent, and creative. You need to find what works best for you and your team and stick with it. If you do that, you'll be sure to see success in your real estate business.
But now comes the hard part, but also the part you've been waiting for! The sale!
It doesn't just end with generating leads; it is now time to close the deal by creating a gorgeous showing.
This is the final step in the process, and it's important to make sure you're prepared.
Here are a few tips:
Make sure your property is clean and presentable. This includes decluttering, deep cleaning, and making any necessary repairs.
Stage your home to appeal to potential buyers. This could involve renting furniture, painting walls, or even hiring a professional stager.
Take high-quality photos and videos of your property. This will help to market your home and attract potential buyers.
Create a marketing plan. This should include online and offline marketing, such as social media, open houses, flyers, etc.
Be prepared to negotiate. This means knowing your bottom line and being willing to compromise.
Real Estate Follow-Up Strategies: Develop Yours Today
Real Estate lead follow-up is a must if you want to start making money. By following these tips, you will be sure to close the deal on your next real estate sale. Thanks for reading!
Now that you understand the process of how to follow up with real estate leads, put these strategies into action and see how they work for you. If you have any questions or need help getting started, feel free to reach out to us for a demo. We'd be happy to help!