Most Realtors have a weak follow-up system. It’s not just Realtors, it’s most people in sales. But for the sake of this conversation, let’s focus on real estate agents.
There is a reason so many Realtors lose opportunities with online leads and it most commonly comes down to follow-up.
Quality of leads are a major factor as well, but that’s a whole separate conversation. Let’s focus on what to do after you are getting quality leads and how to close the deal.
It starts with the follow up.
You have the lead’s information – name, phone number, and email. Now, you need to get the person on the phone or face to face to establish the relationship.
Follow up is not easy for most, but it’s not hard to get better at it – it’s easy to become great at follow up.
There’s one simple determining factor: persistence.
The most persistent person wins every time — however,there is a major difference between persistence and annoying.
An annoying person has no real method to what they are doing, it’s all spontaneous actions that make them annoying.
Persistence, on the other hand, is about being systematic about the follow up. It’s about setting an expectation and sticking to your word.
If you are going to follow up with them, let them know when you’ll do it (in the event you don’t hear from them).
I decided to try an online service to see how the Realtors would follow up. Let’s take a look at the results and what you can do to get more clients with a stronger follow up system.
The website I decided to use is Home Light.
I entered my info and immediately received an email and a phone call from the Home Light team.
It started off well. The representative from Home Light left a message and informed me that if I had any questions to call them. She also set the expectations that there would be agents contacting me shortly.
Within 30 minutes, the calls started to poured in like a tidal wave.
In the matter of two hours, I received seven voicemails.
Shortly after, emails came in from the same people, each email slightly different from the next.
Even though I was informed that agents would be contacting me, I did not expect that volume.
It was a lot. And for the Realtor, it’s heavy competition.
Plus, for an everyday potential prospect, seven voicemails is annoying — even overwhelming.
Who wants to receive that many voicemails and then have to respond to them? Not me.
And that was only the beginning.
After the initial 6-8 hours of agents flooding my inboxes (voicemail and email) it went silent.
Cue the tumbleweed.
For the next week, there was nothing.
After that, I received a few sprinkles of emails and a few voicemails.
But from my count, no one went beyond four follow ups. This included calls, texts, and emails within the first four weeks.
It has now been about eight weeks and still not so much as far as single follow up.
If it wasn’t for an overwhelming flood of calls and emails last week, I would have forgotten that I submitted an inquiry online in the first place.
One agent started with three calls and two emails in one week, which sparked the idea for this editorial.
He was a little late to the party, but better late than never.
That brings us back to how a smart follow up system can really be effective for online leads.
Set a standard.
You don’t have to tell people you will follow up with them every two days or every week until they answer. However, if you have it outlined for yourself and for your team, it makes it easier for you.
Automate part of the process.
If you the lead generation starts overflowing,you are going to need to streamline part of the process. Following up with 100-200+ leads per month is more than a full time job.
You need to take advantage of the technology available to you.
There are systems you can utilize where you can use recorded voicemail drops as well as automated texts and emails to get a response from the serious, highly motivated prospects within the first three days. After that, you can, nurture the other people in the pipeline.
However, you need the highly motivated, not-so-annoyed prospects that don’t come from sites that are driving up the leads like they are jelly beans given to kids on a playground.
That’s where the next part comes into play.
Don’t rely on sites to generate online leads for you. Learn how to do it yourself or hire a team of professionals to get you the quality of leads you need to go beyond your goals.
Facebook ads are a beautiful place to generate a pool of highly motivated prospects for a good cost per lead. Take advantage.
Settling for the oversaturated, high competition lead pools, like the ones you get from those sites, are a waste of time and energy.
Success lies in the follow up. Anyone who has ever been successful in anything was good at follow up
Michael Jordan followed up on his quest for greatness and never losing.
Phil Knight, the founder of Nike, never gave up on his dream of having the best athletic company in the world. Even when he was minutes away from going bankrupt, he followed up.
If you have never read Shoe Dog, you need to.
Gandhi followed-up on his mission for independence for his country by injecting nonviolent civil disobedience.
If you strive for greatness, you need a great follow up system.