Real estate is a very competitive industry. Agents must constantly work to attract new clients, whether those clients are potential buyers or sellers.
While the first impression is a great chance to reel in potential real estate clients from the get-go, how, why, and when you conduct follow-ups will have a lasting impression on buyers and sellers. A lack of follow-up can leave a bad taste in a client’s mouth and potentially risk your reputation as well.
Lack of follow-up doesn’t just affect the immediate transaction ahead of you, but those that could follow. A client who is a buyer today could become a seller tomorrow, and vice versa. Plus, one client will serve as a great referral source for you if they had a good experience. That’s a potential string of business you could lose out on if you don’t properly conduct follow-ups.
Today, there are so many avenues to reach potential real estate clients and mediums through which you can communicate. From open houses where you will meet in person, to print advertisements where you will leave a mark in their mind, to online channels such as email and social media where you will “meet” digitally, there are a number of ways for real estate agents to both initially attract and follow-up with potential clients.
This makes it more challenging for real estate agents to follow-up with potential clients today than it has been in the past — despite the fact that it’s easier than ever to connect with people. Like just about anything else in business, the key is creating a fundamental follow-up plan and sticking to it.
Here are the top three tips for following up with potential real estate clients.
1. Personalize your follow-ups and provide useful information
When you meet a prospect for the first time, whether that be in person or through a digital channel, you will be collecting valuable information about them. Initially, you will know:
- Whether they are a buyer or a seller
- Their approximate age and marital status
- Neighborhoods they are interested in, if they are buyers
- Basic details of their home, if they are sellers
This may seem like innocuous getting-to-know-you information, but it’s what tells the story of why these people are potential clients in the first place. Buying and selling a home represents a major life change for most people. Maybe a newly married couple is searching for their first home with a baby on the way. Maybe an older couple is selling their home to move to the beach in retirement.
The reasons they are potential clients are often the major storylines of their lives. It’s important information to them — and it should be to you, too.
You should track information on all the potential clients you come across so you can relate to them in your follow-ups — and provide useful, relevant information to them when you do reach out again.
Let’s say, for example, that you met Bill and Jill at an open house you hosted. They are 30-year-olds who have been married for five years, have a small daughter as well as a son on the way, and are searching for their first home.
When you follow-up with them, you should ask them if they have any questions about the home they saw at the open house and whether they would like to schedule a private tour. What you should also do, though, is send them links to other listings you may have that are comparable to the home they visited at the open house.
But don’t stop there. People today love content, especially content that is useful to them. If you collected their email address (which you should have), add them to a list of your potential buyer clients that sends links to valuable resources for first-time homebuyers. This can be articles on how to qualify for a mortgage, how to successfully negotiate, and what to look for in a home.
This combination of personalization and news-you-can-use content will make a lasting impression on your potential clients.
2. Follow up through every channel available
The more ways you have to connect with potential real estate clients, the better. This means you should be collecting as many home addresses, email addresses, phone numbers, and social media accounts as you possibly can. Attracting prospects is a numbers game — the more lines you cast, the more potential fish you can catch.
What’s important to note, though, is that in addition to collecting this information, you should find out how each individual prospect prefers to be contacted. When you meet Bill and Jill at that open house, for example, not only should you ask them to give you their contact information, but what method they preferred to be contacted through.
If you connected with the potential client over social media or through email marketing, it may be safe to assume that’s the channel they prefer — but you should ask anyway. This will show your potential clients you care about their preferences, and it gives you the opportunity to connect with them on one channel if they don’t respond on another.
3. Track as many data points as you can
The success of your follow-ups is completely reliant on the data points you collect, track, and analyze. How can you create a successful follow-up plan if you don’t know the last time you reached out to each potential client, for example?
Data is great, but unless it’s properly collected and organized, it’s nearly impossible to analyze for the purposes of proper decision making.
Even if you don’t pay for a Customer Relationship Management (CRM) system, you should track all the general information on your potential clients, including their name, contact information, and whether they are a buyer or a seller.
In addition, you should also track:
- How and when you first connected with them
- When you last followed-up with them
- The last method of follow-up
- The response, if any, to these follow-ups
You should also use every digital data analysis tool you can, including:
- Open rates and click-throughs using an email marketing program
- Likes, retweets, activity on social media posts
Visitors, bounce rate, form completion and time spent on your website
Only when you’ve tracked and combined all these data points will you truly be able to analyze whether you are following-up with your potential real estate clients enough, and whether the ways you are doing so are proving successful.
Partner with a trusted mortgage company to generate more leads
These are the top three tips for following up with your potential real estate clients. But you can only utilize these tactics once you’ve made the initial contact with the prospect.
One way to gain new leads is to partner with a trusted mortgage company such as Embrace Home Loans. Our loan officers and staff members have years of experience and knowledge in a variety of loan types, including conventional loans, VA loans, USDA loans, and FHA loans.
A partnership with us can help your clients get the best mortgage for their unique situation. Plus, Embrace works with a large number of people who are searching for a trustworthy real estate agent. Visit us online today, or call us at (888) 907-6261.