Be Fanatical about Follow-Up
Here’s a fact worth remembering: MORE BUSINESS IS LOST from a lack of lead follow-up, than from a lack of prospecting?
Yes, top-performing real estate agents get between 70-80% of their listing appointments as a result of their persistent follow-up efforts. Here’s what’s really amazing: about half of all agents don’t even follow up with prospects after their initial phone call. And only a quarter of those agents will make a 2nd follow-up call.
So, the lesson is simple: if you’re not absolutely fanatical about follow-up, you’re going to lose a lot of money to agents who are follow-up fanatics.
If you’re reading these words and thinking to yourself that maybe you’ve been a little lax in your follow up efforts, here are FOUR follow-up starter tips to get you moving in 2022:
- SCHEDULE FOLLOW-UP TIME EVER DAY: Just as you should be blocking off hours each day for phone prospecting, set aside time for follow-up. A minimum of 30 minutes each day should suffice to keep you connected and top-of-mind with your prospects.
- UNDERSTAND YOUR PROSPECT’S MOTIVATION. Be sure to use your first call to learn what you can about the homeowner’s hopes, dreams, and, most importantly, motivation to sell. Knowing as much as you can about your prospect gives you a reference point for the subsequent calls. Plus, you’ll reinforce the fact that you heard what they said, which goes a long way to building trust.
- BRING VALUE TO YOUR PROSPECT. Start each call with something interesting and worthwhile, such as the most recent market stats. Your prospect will know that you’re coming at the process from a service perspective. This will make them more comfortable and, again, help build trust.
- BE PATIENT WITH FSBOS. You may need to invest more time with For Sale by Owner homeowners. Don’t challenge them, or make them feel as if they’ve made the wrong decision. Eventually (perhaps within a few weeks), they will realize that going it alone is not the best strategy. If you’ve been patient, and invested time in building rapport, you’ll be in a good place when they’re ready to work with a pro.
It’s not unusual for many real estate agents to pull back for fear of coming off as “too aggressive.” The truth is, you can’t be too aggressive. Persistent follow-up shows the prospect what you would be like when it comes to selling their home. It shows them you care, especially if you approach things from a service perspective as outlined above.
Whatever you do, don’t fall into the trap of “not calling enough.” Be fanatical about your follow up and it will pay huge dividends over time.