Greg Harrelson & Abe Safa discuss the importance of follow-up best practices.

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Follow-Up Best Practices in Real Estate You Need To Know

When it comes to generating leads and closing deals, following up on your buyers and sellers plays an important role. Following up with your clients can spell the difference between a win and a loss. Unfortunately, not everyone completely understands the gravity of its impact.

Statistics of Follow Up Behavior

According to findings, up to 80% of prospective buyers say “no” four times before they say “yes” to a sale, and up to 92% of salespeople give up after four “nos.” Among these, 44% of salespeople give up after one follow-up call.

The numbers above show you how important it is to follow up in sales and how many prospective clients you’re potentially losing if you give up early on. While it can be discouraging to hear a “no” on your first follow-up call, you need to be persistent in reaching out to them.

To help you out, take a look at the best practices you can implement to better your strategy and convert leads into sales.

Follow Up Best Practices

Before getting into the best practices, you need to understand that not all “nos” are sure rejections; some “nos” can mean future “maybes.” What you need to do, therefore, is to determine which are definite nos and which are potential maybes for these best practices to work.

Know Who To Follow Up With

While you know who to follow up with, you might not know how to prioritize. The key is to segmentize your list of prospects into different categories, such as buyers and sellers, hot and cold, etc.

Ask the Right Questions

Once you know who to contact, the next step is to ask the right questions. The questions will help you get additional information about the prospect to guide you on your following steps.

Have a Follow Up Activity

Whether scheduling calls or putting up online ads, you should always have a follow-up activity to engage with your clients. This will enable them to notice you more and strengthen your rapport.

Future-pace the Next Call

Many real estate agents make a mistake after every call to schedule the next appointment, even weeks or months away. This is an ineffective way to follow up with them because they might forget about it, opening room for inactivity. What you need to do instead is future-pace.

This method allows you to explain your plan over the call without expecting anything from them in return. As a result, you can effectively update your clients on the next steps so that they can set their expectations for your future conversations.

Use Automation for Soft Touches

Aside from calling clients, you can use other online tools to sync up with them. For instance, Facebook ads, PPC marketing, or email can help you engage with them in various ways. As such, they can respond to you with more flexibility.

Avoid Commission Breath

When following up, avoid sounding as if all you’re concerned about is getting a commission. Focus on your “why” and bring forth the value you can offer them. Doing so will help you connect with your prospects better and strengthen your relationships.

Know When To Cut Loose

If clients keep pushing you off, following up may not be the right course of action. In such cases, the best choice may be to put them on the back burner and devote your efforts to more readily available prospects to close deals.

Wrap Up

Through these follow-up best practices, you can create a routine and a strategic system to guarantee a return on investment and an increase in sales. Feel free to explore other follow-up methods if you find an approach that gives you more results!

Published on Apr 26, 2022 under , , ,

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Coaching Keeping It Real

Keeping It Real: The Resources To Equip Your Real Estate Team for Success with Sascha Chatman

Keeping It Real: The Resources To Equip Your Real Estate Team for Success

 

 

In this episode of Keeping it Real, Sascha Chatman and  Frank Klesitz, CEO of Vyral Marketing, break down how you can equip your real estate team for success.

Learn more about the resources needed to manage your own team of real estate agents. Of course, a capable workforce is one thing for generating leads and obtaining success in the real estate world. However, having the right resources available is one of the critical factors needed to equip your real estate team for success.

Recruiting Presentation 

Transforming Your Success into Their Success

Creating a Schedule

Buying this Year vs Next Year

Discovery Phase

The discovery phase is meant to determine whether or not the agents being recruited are the right fit for their real estate team while providing the necessary details for the agents to know what their team is about. Sascha first discusses their team goals and strategies to ensure agents know exactly what they're walking into. He also discusses other matters, such as expectations from the agents themselves and their commissions.

The discovery phase may be one of the most important parts of knowing how to equip your real estate team for success. In order to succeed, you need to have a reliable workforce on your side that shares the same goals and is willing to cooperate with the rest of the team to move forward. Having a compatible and efficient team is one of the best resources you can have in real estate, as it can significantly affect your business' productivity.

Ad Educated Buyer is Easier to Work with!

Agent Utility Belt

This is the highlight of the entire video. Sascha compares his utility belt of resources to Batman's belt of tools and trinkets. This belt essentially exists to store all resources and keep them within reach. Don't get the wrong idea, though. It's not an actual belt. Instead, it is usually a cloud or a compilation of all your valuable resources, such as videos, links, and other agent tools. Having a utility belt that is curated specifically for your team and your needs could help increase the productivity of your workflow because you won't have to scavenge for resources when you need them.

Not only does it make you more productive within your workplace, but it also gives off the sense that you are reliable and organized. When clients ask for something, you will easily have it within reach. 

Clients understandably have many questions before closing the deal, so one of the best ways to answer them is to grab a resource from your utility belt. For example, you're talking to a client about title insurance. Instead of answering their questions yourself, you could take an informative video from your utility belt and ask them to watch it. This makes it easier to understand and relate to.

Having a utility belt is a great way to equip your real estate team for success. It also comes in useful during business transactions. All in all, it's one of the best resources that a real estate team can have.

Having the right resources is essential in equipping your real estate team for success. Create an agent utility belt that caters to your team by signing up for the Real Geeks platform today. We provide valuable resources that you and your team can use to achieve the best possible outcome in every situation. Get started with us today!