Note from Ted: This is a savagely pared-down portion of ‘The Follow-Up’ module from the upcoming Agent Skills Master’s Program. It’s REALLY hard for me to take something I’ve worked so hard at perfecting and then shrink it to 10% of the size, kind of like seeing only 10% of a painting! Not that I think I’m an artist or anything, but I’m pretty darn proud of this thing. Anyway, hopefully, you get a few tidbits out of this portion.
Over the last three Memos, we talked about Building Relationships, The FORD Method, and How to Talk Gooder. Assuming you’ve now got a nice pile of hot and warm prospects, what’s next?
It’s ‘The Follow-Up’!
First, purge the negative self-talk that is preventing you from following through.
“I don’t want to bother people!”
“I don’t want to come across as too salesy!”
Stop it! ✋ If you use the method I’m going to show you, you will certainly NOT be bothering people, and you should already know that the last thing I want you to do is to be a Salesy Slickster. Remember this:
You’re a friendly, professional, knowledgeable provider of valuable information.
That’s the positive mindset you need to adopt. ☺️
If you find yourself being hesitant to contact a prospect, it’s because you’re focusing on yourself rather than how you can provide value to your potential client.
Change your focus, and the fear disappears.
Here are the basic rules for following up with your leads:
1. Always have a purpose.
At first, your purpose is to get your prospect to re-engage with you; nothing more, nothing less. You’ve already had some dialogue with them, so now you want to continue the conversation. If you’re sending an email, always ask a question or ask for a confirmation at the end of every message.
“What are your thoughts on this listing?”
“Would you like to view this one?”
“Please confirm that I’m sending the correct information.”
Pro Tip: If you’re dealing with a couple, always send messages to both of them. Doing this will double your odds of getting a response from at least one of them, and it keeps them both in the loop. After all, if you want to advance the relationship with a couple, you need to build rapport with them BOTH. ❤️
Once you’ve got a response, then your goal should be to continue the conversation further.
2. Frequency
The newer the prospect, the more urgent it is to re-engage with them.
For example, in the case of a prospect you met at an Open House, send the first results of their search with a cover letter as soon as possible after you’ve met them; within an hour, if possible, but at least before the end of your workday. Do not wait until the next day! ⏰
“Hey, Sam and Suzy! It was nice to meet you both at my Open House earlier today! Here are all the current listings matching your search criteria, as we discussed.”
List ALL the criteria, including the geographical area, price range, size and type of home, and whatever other determining factors you discussed with them. Then continue:
“Please feel free to contact me at any time if you’d like more information on any one of these properties. I’m happy to answer any questions you have! I can also arrange a showing for any property you are interested in, with no obligation whatsoever. Please confirm that you received this message and that the search criteria I’ve listed are all correct. Good luck with your search!”
Notice that the tone of this message is friendly and helpful. It’s not even slightly salesy! There is no underlying expectation of anything from you. You’re simply offering to provide help if they want it.
Remember, you’re still at the early stages of nurturing the relationship. You don’t ask someone to marry you on the first date! Do you?
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If you feel like this is over-doing it, you’re wrong. On every message you’ve sent so far, all you’ve done is ask for a simple confirmation that the message was received.
Some people are simply not as responsive as others. But if you give up too soon, you’re probably giving up hundreds of thousands in potential commissions. Let that sink in.
“You miss 100% of the shots you don’t take.” – Wayne Gretzky
3. The Value Rule
Do not EVER contact a prospect or client unless you are providing or offering to provide something of VALUE.
For example, you’ve set up a prospect you met at your Open House on a custom search, and they’ve confirmed with you that they’ve received the information. Now what?
I suggest you wait one day, and then try to find something of value that you can send to them to continue the dialogue. For example:
“Hi, Sam and Suzy. I looked through your search results, and I quite like this one because of this and that. What are your thoughts? If you’re interested, I can set up a time for you to see it. I’d like to see this property myself, anyway! Please let me know either way. Thanks!”
It’s a friendly message, but it also demonstrates to Sam and Suzy that you are actively trying to help them, you’re happy to show them a property, and it’s no problem at all because you want to see it anyway! This removes any pressure or sense of obligation that they might be feeling.
Your goal here is to get to the next step, which is—of course—to show them one or more properties! That will be a break-through step because once you’ve shown them a single property, it’s relatively easy to complete the conversion from prospect to client.
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By the way, the main point of all this is not to tell you exactly what to do and say, but rather to emphasize the proper TONE in your communication.
New prospects are FRAGILE!
You haven’t established trust with them yet, so you need to be as unthreatening as possible. If you’re worried about appearing too salesy, that’s good! That’s the LAST thing you want to be!
Another approach for further dialogue could be to suggest a modification to their search, “Hi Sam and Suzy. I noticed you’ve got Pleasantville in your search, but not Happyville, which is a very similar neighborhood. Would you like me to add Happyville so you can see those listings as well?”
You’re a friendly, professional, knowledgeable provider of valuable information.
Yes, I know I already said that. It’s important!
You could also let them know about a negative, “Hey Sam and Suzy! This new listing looks good, but unfortunately, it backs onto a very busy roadway. I would not recommend this one due to poor future resale potential. Please let me know if you agree that this is a significant negative factor. Thanks!”
Why would you purposely tell them about a negative factor on a listing?
Because you’re building trust! You want your clients to regard you as a trusted advisor. Don’t you?
“To be persuasive, we must be believable. To be believable, we must be credible. To be credible, we must be truthful.” – Edward R. Morrow
The most important rule in Real Estate—in my opinion—is to hold your clients’ best interests above your own, ALWAYS.
Your reputation is your greatest and most vulnerable asset. Protect it at all costs.
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When you practice and develop the skill of Following Up as a friendly, professional, knowledgeable provider of valuable information, you’ll be surprised how easily and naturally people transition from prospect to client, just because you made an honest effort to help them.
Once you’ve developed this skill, you’ll never worry again about not having enough clients.
