Everything Hinges on The Follow-Up

Everything Hinges on The Follow-Up

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Over the years, I've heard numerous agents complain about a lack of leads in their pipeline.

For individuals who are new to the industry, that may be a struggle, but for those who have been in real estate for a long, I would say that the issue is not leads, but follow-up.

So, what can you do to improve your follow-up approach, and why is it so crucial to long-term success?

Significance Of a Follow Up

If you've ever sold a home for someone and later discovered they utilised another agent for a future transaction, there's a good probability your follow-up isn't up to par.
Why? Unless there was a problem with the transaction, it's doubtful that a delighted vendor would forget their agent's name. That suggests the true issue was that you didn't communicate with them for a long time following.
Surprisingly, the issue of follow-up is far more common than you might believe, with figures indicating that almost 80% of sellers do not employ their initial selling agency.
That's eight out of ten vendors you might be squandering, despite the fact that they know you and may have used your services to achieve success.
So, what are your options for dealing with it? Here are four crucial points to consider when it comes to strengthening your follow-up approach...

At Every Stage tHere Must Be Folow Up

While the example above pertains to previous sellers, the reality is that follow-up should take place at all stages of the real estate transaction.

Following up after an appraisal, following up with a potential buyer, following up with a vendor to provide feedback after an open house, and following up to let vendors know where their property's sale is at once a contract is formed are all examples of this.

You are delivering true real estate service when you follow up; you are linking buyers with sellers, keeping people informed, and demonstrating your knowledge.

Personalize It For The Individual

Adding a name to your database and then hammering them with messages and communication isn't a successful follow-up strategy. The strategy for follow-up should be adapted to the individual and their situation.

Immediate sellers, for example, will have different touchpoints than those who have no immediate plans to sell, and prior sellers, as well as people just starting their purchase adventure, will have various demands.

Relevance is the crucial word here. Each follow-up touchpoint must be relevant, well-timed, instructive, and show that the agent is active and educated in the big picture.
The most effective approach to do this is to make sure you know your database and have it divided according to your contacts' requirements.

Because neither buyer nor vendor wants to feel like a nameless number on a list, tailoring follow-up to the individual helps ensure that your message is personalised.

A Combined Approach

A balanced approach to follow up is also required. It may be possible to use technology such as email, social media, and digital newsletters in some circumstances. In other cases, such as handmade anniversary cards, customised SMS updates, and glossy market reports received by mail, it should be exceedingly personal.

A yearly phone call is also necessary, and VIPs and raving fans should be treated to client nights on a yearly basis.

A Stragey For A Team

If you're serious about improving your follow-up (which I strongly advise), I suggest holding a full-day planning session with your staff. Examine every touchpoint for each of your company's clients – whether they're a potential seller, a current vendor, a previous seller, or a buyer – and create a strategy for each that you can implement using processes and procedures.

These constitute the 'gospel' that your team refers to daily, providing the foundations of the excellent customer service for which you aspire.

 

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