For real estate agents “Follow Up” is one of the most important and effective strategies you can use to win more business and sell more real estate.
Great news is, Follow Up is also one of the easiest strategies to implement and has some of the best cut through results – why? Because most agents do not take the time to do it!
Think about this…
80% of sales require 5 follow-up phone calls after the meeting (Source: The Marketing Donut) yet only 44% of salespeople give up after one follow-up. (Source: Scripted)
So how can you take the steps to master follow up, win more business and sell more real estate?
Well at its core the art of follow up is about nurturing, communication and consistency. So in this article I’m sharing with you 4 Follow Up Strategies, which you can use immediately to see instant results.
Here are 4 Follow Up Strategies to help you to propel your network and your listings:
1. Open Home Follow Up
All those fantastic new contacts, waltzing through the door! Now is the time to start making beautiful friendships. You don’t have to have a lengthy conversation with every buyer on open day, you only need to make sure you answer any questions they might have.
Also make sure you get a phone number and email address for your business base!
In this case, an email is a great way to formalise your introduction. Include some more enticing photos of the property, key facts about the home, and make mention competition will be tight for the property.
In my experience, while emails are good, phone calls are excellent for rapid rapport building.
A phone call gives the buyer a chance to ask any questions they may have missed on the day. It also gives you the opportunity to uncover their property goals; what they’re looking for, when they’re looking to purchase, are they looking to move areas, are they looking to change over, what are their goals?
Keep in mind that 80% of calls go to voicemail, and 90% of first time voicemails are never returned (Source: RingLead) and 93% of converted leads are contacted by the 6th call attempt (Source: Velocify) so leave a message and call again!
2. After Listing Presentation Follow Up
Once you have made your listing presentation, now is the time to ramp up the communication.
Touch base with your prospective clients over the phone after a day, or a couple of days to work through any objections, investigate how they’re feeling about the decision, what they need to know to move forward and how to sign them as a client in the best possible way for both of you.
Remember, the easiest way to get what you want is to help others get what they want.
Arm yourself with key dialogue where you explain why you and your agency is the best possible decision for them, examples of the prices you have achieved recently for other clients, any points of difference you have in your market (ie your agency is a RER Network Member and what that means to them). Essentially you want the decision to list with you a super easy one.
At TurningPoint I guide you step by step through the steps to listing success and securing the listing at the point of the listing presentation.
If the vendor decides not to list their property with you at this stage, it doesn’t mean it has to be the end of your relationship.
You might have a property listed they are interested in buying, their relationship with the agency they’ve decided to list with might fall apart, they might decide to list again in 6 months time, so keep them on your business base and stay in touch, particularly if you notice their property is slow to sell.
You never know, you may still get the opportunity to be the agent who sells their property!
3. Post Transaction Follow Up
Accounts are settled, papers are signed and keys are exchanged…but you still have work to do!
Providing your vendors with a thank you gift such as a restaurant voucher will help you to stick in their memory and help you maintain your future relationship (remember your client for life mentality!)
By ensuring you’re sending your new buyers a bottle of champagne, a bunch of flowers or a booklet of vouchers for local businesses is the kind of icing on the cake top agents offer their clients.
It’s a small gesture but it can make the world of difference to your long term reputation as a real estate leader in your community.
With this strategy, consistency is key. Once you have handled a property transaction for a client you should continually be reminding them you are their agent of choice, no matter how much time passes between buying and selling.
Something I share with all the real estate professionals who join me for any of the real estate agent training and coaching courses we run at Real Estate Results is this; there are so many clever and standout ways to maintain visibility and nurture your relationships.
With all the communication options available to us right now, a lot of them automated to save time, there’s really no excuse!
Here are some ideas:
- Be active and visible on social media posting valuable and informative content (not just spamming your upcoming open homes and listings)
- Send regular Email newsletters (this is why it’s so important to collect email addresses at your open homes and have a subscription sign up on your website)
- Regularly send physical mail (this can be updates on the local market, end of year wrap, end of season wrap, etc)
- Send a text messages to your client on the anniversary of their purchase (just a friendly reminder and congratulations)
- Pick up the phone (you can place calls every 6- 12 months, just to touch base and see what’s happening and if they have any property goals they’re looking to achieve that you can help them with)
- Offer them a free property appraisal offer so they can understand where they sit in the market
This is about nurturing your clients. Try to keep in mind that one client does not equal one client. They equal all their friends, their family, everyone in their circle. So getting this right can impact your immediate sales results and also your long term sales results.
4. Referral Follow Up
If you have been introduced to a potential new client from someone in your circle of influence or a current or past client, always connect with the referral, introduce yourself and think about how you can help them.
They might appreciate a free appraisal or some advice on their potential as a property investor or they might just want to know an agent so when the time comes for them to buy or sell they know who to turn to.
Here’s the secret the most savvy of agents are in on – when you meet someone new, you don’t need to immediately spout your latest and greatest sale results.
Instead, find out what about their property goals and supply them with the information they need to take the next steps. Then you can maintain the relationship and let them know you can send them market updates, connect with them on social media, basically ‘become visible’ in their world.
You want to ensure they come to think of you as their agent, their go-to person for all things property and real estate and be ready when they need you. Also – thank the person who’s introduced you and maintain that important relationship with reciprocity and respect.
There you have 4 key Follow Up strategies to start implementing immediately. Let me know in the comments below what you favourite Follow Up strategy is and what kind of results it’s created for you?
The art of the follow up is integral to any real estate training and at TurningPoint we go through some simple yet effective steps to help you achieve seamless follow up across all areas of your business.