If you’ve got lead generation down to a science, but you’re not closing the number of deals you’d like, you probably need to work on your follow-up marketing. Follow-up marketing in real estate can be difficult to perfect, but learning to do it effectively will make all the difference in increasing the number of transactions you’re doing. Here are some general rules to stick to when following up with leads.
If you’re keeping your leads on scraps of paper on your desk, it’s time for an upgrade. Real estate marketing can be complex, so hopefully, you’re staying a little more organized than that. But whatever your current level of organization is, it’s a good idea to check if your system for lead tracking is as efficient as possible. Keep all your leads in the same place so you won’t let anyone fall through the cracks.
Track the date, result, and type of contact for each lead. It’s important to remember the method of reaching out, so the next time you can change it up. Try a phone call if your last point of contact was a written note. If you sent an email last time, try a text this time.
Show Your Strengths
Whether you’ve found a lead at an open house, through a referral, or someone simply reached out, they may not yet know what sets you apart from the competition. They have probably received other recommendations or met other agents who are also hoping to win their business. Don’t let this lead choose one of your competitors without knowing exactly what you have to offer.
Find out your lead’s pain points and offer solutions. Do they need to find or sell a home quickly? On a budget? In a competitive market? Are they worried about finding someone who is trustworthy? Or someone who really has their best interests in mind? Whatever this person’s concerns are, let them know how you will address those concerns better than the competition.
When following up with leads, it can be helpful to follow scripts that are tried and true. When you follow a script, you’ll be able to communicate in a respectful and professional manner, which will help you convert your leads.
You’re probably aware that you need to be persistent, but chances are, whatever you’re doing, you need to do more. Only 10% of salespeople go beyond the third contact, and yet 80% of sales are made after that. If you give up that quickly you’re losing a lot of opportunities. In real estate marketing, you can get ahead of most of the competition simply by not giving up.
While you have to be persistent when contacting leads, you won’t win clients by begging. Each time you reach out, you should be providing value. Whether you’re offering useful information, building up an authentic friendship, or sending a token of your appreciation, make sure you’re providing something that they actually want. If you don’t do this, leads will quickly start tuning you out or ignoring your messages.
It’s important to not go into hard sell mode every time you reach out. This isn’t going to provide value. The goal of each point of contact is not to convert your leads immediately, but to move them along the path toward becoming a loyal, lifelong client.
Use the ABC System for Scheduling
It’s important to be timely when following up with leads, but not all leads are the same. You’ll need to adapt your strategy depending on the type of lead. It’s helpful to use the ABC system to classify leads and understand how often to reach out.
An “A” lead is someone who already has an appointment set up with you. You don’t necessarily have to follow up with these leads because the appointment itself is the follow-up. Following that appointment, you’ll want to get something scheduled for the next time to make sure they stay a “A” lead.
A “B” lead is someone who is planning on buying or selling within 30-90 days, but doesn’t have an appointment scheduled yet. With these leads, reach out at least twice a month to check if they’re ready to move forward, or if there’s anything else you can help with.
A “C” lead is anyone who may be planning on buying or selling, but not within the next 90 days. It’s important to follow up with “C” leads regularly. Reach out once a month to check their status. Even if you have to reach out every month for a year or more, when you are persistent, you’ll stay front of mind. While other agents think “C” leads aren’t worth their time, you’ll be the first agent they call when they’re ready. .
Remember Your Sphere of Influence
These people are your neighbors, friends, coworkers, or other personal connections. They may not be an A,B, or C lead yet, but they may become one someday. You’ll want to stay in touch with these people, but be personal! Don’t drive them away by making them feel like they’re just a money-making opportunity for you.
Rather than adding people in your sphere of influence to your email list and calling it a day, to keep in touch with your SOI , reach out with a phone call or text. Ask about family or work life. If possible, have a face-to-face get-together every now and again, whether that means getting lunch or just stopping by to chat. Make sure you’re cultivating real friendships. When you have a real connection, they’re more likely to think of you when they need an agent.
To make sure your friends, family, and other connections keep you in mind for real estate, aim to have meaningful contact at least four times a year. You could reach out on birthdays or other special occasions or you could set up other regular points of contact, as long as you’re meeting the four times per year goal.
Workman Success Systems offers coaching and training for agents looking to improve their real estate marketing skills and increase their number of transactions. Schedule a free consultation To discuss how we can help you implement proven systems to convert more leads to clients!