Follow up is the key to Success!

Follow up is the key to Success!

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Every new agent I partner-up with gets the same advice: Follow up!

If you choose to be good at one thing, be good at following up.
  • Monetary Success in Real Estate is all about closings.
  • The more deals you close the more money you make.
  • To close more deals you need to convert more contacts into clients.
  • To covert more contacts into clients you need to convert more leads.
  • To convert more leads into contacts you need to follow up with them.
It’s not rocket science but, it’s hard for many agents.

Picking up the phone, texting and e-mailing leads is apparently so hard that 48% of agents never even follow-up once with a prospect. Let that sink in. You paid for a lead, you advertised, you had them sign in at an open house, you meet them at lunch.., whatever you did it cost you time or money and 48% of Real Estate agent don’t follow up with that lead once. Not once, never.

If you don’t contact a lead how can you expect to close a deal?

The good news is that 52% of agents follow up at least once. I do wonder why the 42% that don’t respond are in the real estate business.

So great over half reach out to a lead once, but wait. Only 25% of agents follow-up a second time. That’s it. Two strikes and you are out. Let the lead go. Pass. Move on.

What is really sad is that only 12% of agents make three or more attempts to contact a lead! 88% of agents didn’t try that hard The National Association of Realtors had 1.18 million members as of 5/31/2016 so roughly 1.03 million don’t really try very hard. Wow!

Never even tried to contact leads a third time. I call that pathetic.

In my next blog I explain more about the importance of following up.

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The Pareto Principle (80/20 rule) and Real Estate lead conversions

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