Following up your real estate leads is vital. Almost nobody commits to a decision on the first call. Those realtors who don’t follow up effectively find themselves losing business to the ones who do. Some data suggests it can take as many as 10 different follow ups before someone commits to using a realtor. Clearly, persistence pays off.
However, following up is often awkward. “I just wanted to check in and follow up…” doesn’t sound confident, and you’re not adding any value to the lead. It’s no surprise that realtors who use this follow up technique dread the thought of saying it ten times.
Following up can be done better, however. This post is the first part of a plan for 8 unique follow ups, each addressing what a lead wants to know throughout the transaction.
At some point, your clients need to visit a mortgage lender. Unfortunately, many won’t until the last minute. This is bad—they need the right information from a lender before they make any substantial decisions.
Since everyone needs to do this at some point, one of your best options for a follow up is to send them an email or phone call asking your lead about their plans for a mortgage, and offer to set them up for an appointment with a preferred lender.
Many homebuyers do not realize they qualify for downpayment assistance and other grants. Lots of different programs exist, ranging from simple downpayment assistance to mortgage credit certificates. We’ve just published a guide giving you the important information on these programs, you can get it here.
The key point for following up is that many people just don’t realize they are eligible. These programs are not just for low income owners, the upper qualifying limits are quite moderate.
As such, the follow up step here is to ask them whether they’ve considered such programs, and inform them of their options. If you can show them how they can receive a substantial assistance of $10,000, your lead is sure to appreciate your follow up.
To get the right price for their home, people often need to make fixes before the sale. Of course, this takes a trained eye. While many homeowners try to just wing it, a professional can spot the important issues and is well worth the money.
The follow up here is to suggest that they should hire a professional inspector to check through their home. Suggest, for example, that the value of doing so is worth more in the final sale price than the cost of hiring. And of course, go one step forward and give them a list of people who you trust to handle the job. Taking the drudgery of choosing inspectors out is something to be appreciated.
One of the hardest decisions clients will make is at what price to sell. This also affects you, too: Not pricing effectively can leave the home languishing unsold, or rob them of a good price. Even buyers want this information. They want reassurance that the homes they’re considering are within an acceptable price range for the market.
As such, a great follow up is to offer to sit down with them and discuss pricing trends, either over the phone or in person. While sending them a report is also effective, this is the kind of follow up that leads well to a real conversation, and from a real conversation, you can build rapport.
It’s all about genuine interactions
Following up isn’t difficult to do effectively, nor does it need to make you look like a pest. It’s all about taking opportunities for genuine interactions with a lead that add something valuable. As a realtor, you’re in a wonderful position to add value to your leads, a mindset critical to understanding the value of following up.
Stay tuned for part 2 of this guide, where we give four more effective follow ups.