Follow-up

3 minutes
Collaboration with tablet and laptop

The Path Toward Real Estate Success: Conversations Into Appointments

Joshua Smith Apr 3rd, 2020
Real Estate Advice
Joshua Smith
Real Estate Success

Consumers love to consume (in this case, buying and/or selling real estate), but they HATE being sold to.

To find success in real estate, your mindset must be to come from a place of adding value by leading with contribution. And know that once your contacts are ready to buy and/or sell, they will think of and reach out to you.

So, yes, more frequency than ever is required to convert leads into appointments; however, you do not need to resort to using high-pressure tactics. In fact, when delivering high-pressure scripts, you will end up turning off far more people than you are allowed to help.

The goal is to follow up frequently, lead from a place of contribution, and develop a relationship over time.

Let me give you an example:

My team generates a ton of leads and business by running Facebook Ads. These leads register on my website to unlock the ability to search for homes. Let’s say I just received a new lead who saved a property as a favorite on my website.

I would call this lead ASAP and say “Hi (lead's name), this is Joshua Smith with REVISITO Real Estate. I wanted to reach out, as I noticed you saved (the property address) as a favorite on my home search website, and I wanted to see if you had any further questions on that property, as well as see if there is other info/data on that home and area I can send you. (Pause to let them answer, answer any questions they may have, then try to set an appointment). I have some time this evening between 5pm and 7pm if you would like to meet at that home on your way home from work and spend a few minutes checking it out. Is that something you would like me to set up?”

IMPORTANT NOTE: Remember from Creating Real Estate Success: Lead Follow-Up, that the same lead will reject you for an appointment five times before saying yes. So, I am expecting a no and will then say, “No worries at all. If you have any further questions, or ever need anything, please feel free to reach out anytime! Have a great day!”

The goal is to follow up, lead from a place of contribution, try to set an appointment, and if unable, repeat the process.

As you can see, my lead follow-up is far from pushy, but I do follow up frequently with courtesy check-ins.

As the famous sales saying goes, “The fortune is in the follow up”. And I have seen time and time again that it really is.

To make your life easier and your business manageable, a lead follow up plan/system is essential. But the plan or system is not enough. You also have to execute. Please know that generating leads is not the main issue. Converting leads into appointments is a much more crucial step, and one that most realtors struggle with, as they do not have a dedicated lead follow-up system in place. 

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

2 minutes
Typing on laptop

The Path Toward Real Estate Success: Lead Follow-Up

Joshua Smith Mar 27th, 2020
Real Estate Advice
Real Estate Success
Joshua Smith

The average realtor follows up with a lead within 40 minutes and only follows up twice. These numbers are just not good enough for any agent to ever be able to create a profitable real estate business. As you read in Creating Real Estate Success: Lead Generation and tracking, the average realtor only converts .5% of leads into a closing. More on predictable lead generation systems here.

But as you have demonstrated by your dedication to learn to perform at the highest level in the real estate business, you are not the average realtor.

Let’s now dive into what steps you can take to turn your leads into appointments and point them toward closing.

Consider these averages about lead follow-up:

-- You must follow up with a lead fifteen times before that lead will reach back out to you.

-- Each lead will reject an appointment five times before ever agreeing to meet with you.

-- Every consumer is sold to 2,000+ times each and every day.

You must be diligent about lead follow-up. I recommend, at a minimum, that you follow up with every lead 21 times in the first 30 days. You can use any combination of phone calls, emails, and text messages, but the key is to reach out 21 times in the first month of your relationship with a lead.

Plan to get voicemails and few responses. That’s okay and is expected industry-wide. You can only focus on and control your actions. So your job is to continue to follow-up via phone, email, and text until you can get a lead to respond to you. At that time, you can work with that lead to identify goals, expectations, and time frames for purchasing or selling a home. More on how to turning conversations into appointments here.

In real estate as with anything else, hard work and persistence are key.

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

4 minutes
Woman happily talking on the phone.

The Path Toward Real Estate Success: Overcoming Fear

Joshua Smith Jul 31st, 2020
Joshua Smith
Follow-up
Making Money in Real Estate

Those who wish to create success must first learn to face their fears.

Please understand that we all experience fears. If you are struggling with something, you are NOT alone! Feeling like you are the only one struggling with something, but everyone has fears. And a fear of rejection and reluctance to make calls are very common feelings for real estate agents.

How To Overcome Call Reluctance and Fear of Rejection:

#1: You MUST identify what you want most. Never sacrifice what you want most for what you want in the moment. Learn to be brutally honest with yourself. You will either have to learn to be told “No”, or you will have to learn to say “No” to the opportunities you want to create for yourself and your family! For example, if you don’t learn to become okay by being told “No” by a stranger, you will have to say “No” to your own personal goals, or maybe even have to say “No” to those who matter most to you. Would you rather have a stranger say “No” to you, or would you rather have to tell your kids “No” that you can’t afford to pay for them to go to college, as you were to afraid to do what it takes to create those opportunities for them? I know this sounds harsh, but the reality is we must get brutally honest with ourselves, otherwise the above scenario can become a reality.

#2: Track your numbers. Once you start tracking your numbers, you will quickly learn exactly how many “Nos” you need to get a “Yes”, which then allows you to attach to the process. Once we attach to the process, it makes getting told “No” so much easier. We then know, as an example, I need 49 “Nos” to get my 1 “Yes”. You can then turn it into a game.

#3: Ask yourself different questions. Instead of asking, “What type of rejection am I going to experience during this activity?”, ask yourself a better question: “What will the result be for my personal goals and my family if I don’t do this activity?”. This comes back to tip #1, in getting brutally honest with yourself.

#4: Practice your scripts. If I told you that tomorrow we are going to call 1000 expired leads, and you just showed up at my office, you may have massive fear and call reluctance, BUT if I told you to come to my office tomorrow, and we are going to call 1000 expired leads, and then gave you the script we would be using, and you spent three hours the night before practicing that script, the fear may still exist, but it will be much less. Spend time rehearsing your scripts; doing so will absolutely help!

#5: Take action! Like anything, we are typically not good at it when we first start, but the more we do it the better we get and the more comfortable we become.

IMPORTANT NOTE: A good book that will help with letting go of fear is “Go For No! Yes Is The Destination, No Is How You Get There” by Richard Fenton & Andrew Waltz.

Understand that the fear exists and is usually due to stories we have created in our heads about how bad it is going to go. These are just stories and is not reality, which is never as bad as we think it will be. Always remember why you are here, why you got started in real estate, and what opportunities you want to create for yourself and your family. Be willing to push through it and face those fears, It will pay off; I promise!

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

3 minutes
Happy couple closing a real estate transaction.

The Path Toward Real Estate Success: Past Client Referrals

Joshua Smith Jul 3rd, 2020
Joshua Smith
Mastery
Making Money in Real Estate

Consider the following statistic:

88% of recently surveyed buyers and sellers said their realtor did a great job, and that they would absolutely use him/her again in the future. However, only 11% ever do a repeat transaction with that realtor.

How could this be?

You can deliver absolutely amazing service to your clients, but if you do not stay in touch after the fact, those clients will forget your name and not know how to reach you. Out of sight, out of mind. To ensure your past clients do future business with you (and equally as important, send you referrals) you MUST stay in touch!

But why don’t most agents stay in touch?

1: They do not have a CRM/database to stay organized to stay in touch. Read more about what to look for in an effective CRM here.

2: They feel uncomfortable bugging past clients begging for business.

The great news is both of these objections are extremely easy to overcome:

1: Get a CRM/database, and use it. Problem solved!

2: You absolutely do not need to beg for referrals to stay in touch, but you must stay in touch!

But how do you stay in touch without coming across as an annoying sales person? By checking in and always focusing on the human connection. As Dale Carnegie states in his amazing classic business book, “How To Win Friends and Influence People,” the way to build deep connections is by being “interested in others, not trying to be interesting.”

Here are some tips for checking in with past clients:

1: Put past clients in your CRM/database, and send a “Monthly Video Current Market Update” to keep everyone educated on what is happening in the local real estate market.

2: Send out handwritten birthday cards.

3: Send out happy holiday emails.

4: Pick up the phone, and call every 90 days. Don’t make it about you, make it about them. “How is the Family?”... “How is Work going?”.... Etc.  Ultimately, the law of reciprocity will kick in and they will ask about you, your family, and your real estate career. 

The goal is to stay in touch, and by staying in touch you will stay front of mind, which will absolutely result in referrals! Now, to do the above, again, you need a good CRM/database that will allow you to task yourself, take notes, and allow you to do mass emails.

Your past clients are truly your money tree that is growing in your backyard. Don’t forget to water it!

Thanks for reading!

  Joshua Smith, Realtor/Mentor/Entrepreneur

-Voted 30th Top Realtor in America by The Wall Street Journal

-Over 5,000 Homes Sold & Currently Selling More Than 1 Home Daily

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