{"id":191,"date":"2016-09-10T18:21:19","date_gmt":"2016-09-10T18:21:19","guid":{"rendered":"http:\/\/blog.leadpropeller.com\/?p=191"},"modified":"2016-11-03T18:55:47","modified_gmt":"2016-11-03T18:55:47","slug":"10-follow-up-tips-to-convert-your-real-estate-leads-into-deals","status":"publish","type":"post","link":"https:\/\/lpblog.leadpropeller.com\/?p=191","title":{"rendered":"10 Follow Up Tips to Convert Your Real Estate Leads Into Deals"},"content":{"rendered":"

This post originally appeared on the REImobile blog<\/a><\/span>.<\/em><\/p>\n

1. Diversifying Communication Platforms (Don\u2019t underestimate texting!)<\/h2>\n

Real estate investments depends on converting leads<\/strong> into profitable deals, and all of that is done through communication. Diversifying your platforms for follow up\u00a0will help you convert\u00a0your real estate leads better. Through emailing, calling, and texting, there are many different channels to effectively communicate with your lead. While those platforms are all worth using, the most effective method out there has to be texting.<\/p>\n

OpenView, an online journal, found that it takes a sales representative 18 call attempts before a contact is reached. Generally, calls that go to voicemail have a less than 1% chance<\/span> of getting a call back, and that only 18% of people check their voicemails. But! Once a call is connected, the response time is much quicker. Persistence is the key with this platform.<\/p>\n

Similarly, emails have less than a 24% chance of ever getting opened. Kenneth Burke, from \u201cText Request<\/a><\/span><\/span>\u201d, found that only <\/span>\u2153 <\/span><\/i><\/span>of emails are opened<\/span> and responded to. But don\u2019t let that deter you! Using every communication platform is important.<\/span><\/p>\n

However, while calling and emailing might take more effort than they give back, studies from \u201cText Request\u201d, an online journal that researches the statistics of text usage, found that in 2015 95% of text messages were opened<\/span> within <\/span>3 minutes<\/span><\/i> of receiving the text. If you\u2019re not texting your real estate leads, you\u2019re missing out on a lot of potential communication, and subsequent deals. Communication that can easily convert a lead into a deal. More information from the \u201cText Request\u201d study shows that getting, and sending, texts is the most used form of communication in American adults under the age of 50.<\/span><\/p>\n

If everyone is texting, then why not use this as a way to communicate with your leads?<\/p>\n

2. Trying Multiple Methods – Just Keep Swimming!<\/h2>\n

\"just<\/p>\n

We already spoke about how using different communication platforms is important, but what good is knowing how effective something is without staying persistent with it? If we know that it takes 18 attempts to get one call response from a potential real estate lead<\/strong>, then the lesson there is to stick to what you\u2019re doing and not to slow down! Call, email, and text until you get a response.<\/p>\n

Additionally, people are more likely to respond to someone they\u2019ve talked to in person. If you can, set up a meeting with your real estate leads. Once they see a person, they\u2019ll be more inclined to respond to you because you won\u2019t seem like a disembodied voice after their property. You\u2019ll become a real person to them. You\u2019re more likely to get a lead to make a follow up<\/strong> meeting with you once you\u2019re real to them<\/span>. Staying personable is key when it comes to communication and follow up with your lead.<\/p>\n

3. Drafting Emails & Phone Calls – Write Some Scripts<\/h2>\n

\"phone<\/p>\n

The more professional you present yourself, the more confidence your real estate lead will have in you, and the more confidence you\u2019ll have in yourself. A way to make sure you\u2019re saying the right thing is to form drafts of what you want to communicate, and edit them accordingly. Make sure you don\u2019t sound like a robot, though. Again, make your drafts personal<\/span> to your lead. Remember, they\u2019re a person just like you. If you draft something that you wouldn\u2019t follow up with, then why should your lead respond to it?<\/p>\n

For example, when working on follow up for a lead, use something along the lines of: <\/span><\/p>\n

\u201cHi <\/span><\/i>[lead\u2019s name]. <\/i><\/b>Are you still considering selling your<\/span><\/i><\/p>\n

house? What days work best for you so we can get <\/span><\/i><\/p>\n

together and talk about our options?\u201d<\/span><\/i><\/p>\n

Formatting your follow up in the form of a question gives your lead the feeling of control. That way it doesn\u2019t seem like you\u2019re pressuring them into making a decision quickly. Also, don\u2019t be afraid to use \u201cwe\u201d language when speaking to your real estate lead. If they feel included in the process, your lead will be more willing to work with you, because you\u2019ve worded your follow up to include them in the process. By staying open and welcoming, you present yourself as someone who knows what they\u2019re doing in your follow up.<\/p>\n

4. Keep a Schedule & Stick To It!<\/h2>\n

\"keep<\/p>\n

Far too often real estate investors<\/strong> don\u2019t stick to a schedule, and give up after the first few failed attempts. Keeping a schedule is important when it comes to follow up on real estate leads, because it keeps you persistent. The hardest time to attempt following up on your lead is the time after you\u2019ve already gone off your schedule. Don\u2019t let yourself fall into a rut of not trying. The effort you put into your follow up will come back to help you as long as you stick to it.<\/span><\/p>\n

Set a time each day to reach out to your lead. Make this a reminder in your calendar, or an alarm on your phone or computer, so that you know when to follow up. Make sure you time it for the best time of the day to reach your lead. If you\u2019re scheduling communication for a weekday, time it to be around lunch so that you have a higher chance of getting a response on your follow up. If you\u2019re setting something up for weekend communication, try contacting your lead in mid-morning, or early afternoon. Remember, people are more likely to respond to a text message, but don\u2019t be afraid to reach out in other platforms<\/span> as well.<\/p>\n

5. Track What Works & What Doesn\u2019t<\/h2>\n

\"find<\/p>\n

Keep a log of all of your follow up attempts, this will help you with future follow up attempts on real estate leads<\/strong> to know which methods worked best and which methods did not. Keep a log of what times work best for getting a response from your lead, and what days you\u2019re most likely to reach them best at with your follow up. <\/span><\/p>\n

Look at the response time of your follow ups. If you have a lead that responds better in the evening, then try contacting future leads in the evening. If your lead responds better during the day, then try that. Work with trial and error to determine when is the best time to attempt contacting with a follow up on your real estate leads. But most importantly, keep a log<\/span>! Nothing is more helpful than jotting down useful information in a journal, or on the notes feature on a smartphone.<\/p>\n

6. Do Business in Person – Be Present & Personable<\/h2>\n

\"do<\/p>\n

In a LinkedIn article about customer satisfaction, McKinsey<\/a><\/span><\/span> Business Journal is quoted as stating that \u201c70% of buying experiences are based on how the customer feels they are being treated.\u201d Additionally Gary Vaynerchuk, from \u201cThe Thank You Economy<\/a><\/span><\/span>\u201d, says:<\/p>\n

\u201cPeople want [this] level of engagement from the<\/i><\/p>\n

companies with which they do business…even the best <\/span><\/i><\/p>\n

of what formerly passed for good customer service is no <\/span><\/i><\/p>\n

longer enough.\u201d <\/span><\/i><\/p>\n

Basically, do business in person<\/span> as often as possible, and do it well. Be polite, personable, and punctual. If you leave your lead with a good experience, they will be more inclined to respond to your follow up and do business with you. Be sure to shake their hand, smile, and remember their name. At the end of your meeting with them, get their contact information and keep communication alive with all of the methods we\u2019ve already spoken about, but more importantly, use those forms of communication as ways to set up meeting in person. The more you interact in person with your real estate lead, the more likely they are to respond well to your follow up.<\/p>\n

7. Make an Agreement & Hold Them To It<\/h2>\n

\"make<\/p>\n

Doing business in person is the first step to solidifying more meetings that can turn your real estate lead into a deal<\/strong>. Make future plans with your lead, and hold them accountable for those plans. When talking to your lead, indicate interest in future meetings with them, and be sure to get their word on it. If you make a plan to meet and discuss pricing in the near future, send them a reminder of your planned meeting 24 hours before the time you\u2019ve set. This will ensure that your communication was open, and prevent them from having an excuse if they aren\u2019t able to make it. Your business depends on their dependability<\/span>, hold them to the agreements you both have come to in your follow up.<\/p>\n

8. Send Letters & Postcards<\/h2>\n

\"use<\/p>\n

Similar to having scripts pre-written for emails, or phone calls, sending a follow up letter to your real estate lead keeps you personable, and helps better establish communication. Remember, keeping that communication channel open is key to converting your lead<\/strong> into a deal.<\/p>\n

An example for an initial follow up letter is:<\/p>\n

[Lead\u2019s name]<\/b>,<\/span><\/p>\n

 <\/p>\n

Just checking in to see if you sold your house at [address]. \u00a0<\/span><\/i><\/p>\n

If you did, great! That\u2019s awesome. \u00a0<\/span><\/i><\/p>\n

 <\/p>\n

If you have not, we\u2019d like to make you a no-obligation cash offer to <\/span><\/i><\/p>\n

buy it. \u00a0Just think, by this time tomorrow, you could have the house <\/span><\/i><\/p>\n

sold! \u00a0It doesn\u2019t get any easier.<\/span><\/i><\/p>\n

 <\/p>\n

We don\u2019t charge fees either. \u00a0You won\u2019t have to pay thousands <\/span><\/i><\/p>\n

in agent commissions or deal with surveys, appraisals, inspections. \u00a0<\/span><\/i><\/p>\n

 <\/p>\n

I\u2019d love to talk with you about what we can offer. \u00a0Feel free to call <\/span><\/i><\/p>\n

me at [phone_number] or simply reply to this email. \u00a0\u00a0<\/span><\/i><\/p>\n

 <\/p>\n

Thank you,<\/span><\/i><\/p>\n

[Your name]<\/b><\/p>\n

[Your company name]<\/b><\/p>\n

An example for a follow up letter to use a couple of weeks after the offer to your real estate lead is:<\/span><\/p>\n

[Lead\u2019s name]<\/b>,<\/span><\/p>\n

 <\/p>\n

We made you an offer for your house at [address] a couple <\/span><\/i><\/p>\n

weeks ago. \u00a0<\/span><\/i><\/p>\n

 <\/p>\n

Hopefully you\u2019ve sold it. \u00a0But, if you haven\u2019t, we\u2019re still interested <\/span><\/i><\/p>\n

and wanted to let you know that we can probably get it closed <\/span><\/i><\/p>\n

within a week. \u00a0We pay cash which allows us to be able to close <\/span><\/i><\/p>\n

super fast.<\/span><\/i><\/p>\n

 <\/p>\n

You won\u2019t have to wait for appraisals, surveys, inspections and <\/span><\/i><\/p>\n

all of the uncertainty that often arises from those things.<\/span><\/i><\/p>\n

 <\/p>\n

Most people want some time to make plans and arrangements, but <\/span><\/i><\/p>\n

often we find people would prefer to just be done with the house so <\/span><\/i><\/p>\n

that they can move on with their life. \u00a0\u00a0<\/span><\/i><\/p>\n

 <\/p>\n

Please give me a call at [phone_number] so that we can discuss <\/span><\/i><\/p>\n

how fast we can get this closed.<\/span><\/i><\/p>\n

 <\/p>\n

Thanks!<\/span><\/i><\/p>\n

[Your name]<\/b><\/p>\n

[Your company name]<\/b><\/p>\n

9. All That Swag – Use Your Merchandise<\/h2>\n

\"use<\/p>\n

An effective way to keep your real estate leads<\/strong> interested, and keeping communication open during the follow up phase, is to use your pre-existing content. Merchandise such as pens, magnets, mugs, t-shirts, or anything like that is a perfect way to show appreciation for your lead, and create brand recognition. Use them as gifts when you send a thank you follow up letter, or use them as incentives for your leads to stay in communication with you. Plus, this is a great way to continue to get your name out there while also building a community of people who know about you and your real estate business<\/strong>.<\/p>\n

10. Use a System (…Like Ours!)<\/h2>\n

\"use<\/p>\n

All of the tips we\u2019ve gone over are the first steps to converting your real estate leads into deals<\/strong> with your follow ups. But what good is all of that knowledge without having a way to stay organized? We talked about keeping a log of your attempts at follow up communication, but how is your organization past that point? How are you tracking the letters that you send out? Where do you keep your scheduled appointments? Do you write and store every email that goes out? What is the cost of following up? <\/span><\/p>\n

Having a system in place to manage and track follow ups is a must. Sure, you can stick to using a spreadsheet or hiring an assistant to track everything for you or manage a Rolodex, but these methods still have a high probability of costing you leads, and potential real estate deals. One method we\u2019ve found for staying organized, and staying on track, is using a CRM.<\/span><\/p>\n

Finding a CRM system that meets your needs is an important part of every real estate business. Real estate CRM systems can track phone calls, mailings, manage schedules<\/span> and even send you live notifications. Take REImobile for example. REImobile<\/a><\/span><\/span> saves you valuable time by keeping track of your follow ups and sending live notifications to keep you informed of when, where and how follow ups are happening. You convert more real estate leads into deals<\/strong> when you follow up with your clients. A good CRM will not only make you more money, but it will save you time. And time is money, people!<\/span><\/p>\n

Special Bonus Download<\/strong>: Download our 3 Simple Strategies to Convert 50% More of Your Leads Into Deals guide. This guide shows you how to make money from more of your leads so that you can massively increase your ROI for your marketing.<\/p>\n

The free guide describes several options for making money from leads you get that don\u2019t fit your investment criteria as well as our techniques for following up with sellers if they don\u2019t immediately accept our offers.<\/p>\n

Roughly 50% of our deals come with follow up. Get the guide<\/a><\/span><\/span> and find out how to double your lead to deal conversion rate.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

This post originally appeared on the REImobile blog. 1. Diversifying Communication Platforms (Don\u2019t underestimate texting!) Real estate investments depends on converting leads into profitable deals, and all of that is done through communication. Diversifying your platforms for follow up\u00a0will help you convert\u00a0your real estate leads better. Through emailing, calling, and texting, there are many different […]<\/p>\n","protected":false},"author":1,"featured_media":566,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[20],"tags":[25,26,23],"_links":{"self":[{"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=\/wp\/v2\/posts\/191"}],"collection":[{"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=191"}],"version-history":[{"count":8,"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=\/wp\/v2\/posts\/191\/revisions"}],"predecessor-version":[{"id":567,"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=\/wp\/v2\/posts\/191\/revisions\/567"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=\/wp\/v2\/media\/566"}],"wp:attachment":[{"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=191"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lpblog.leadpropeller.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}