July 1, 2021
Take Our Quiz To Find Out Why Your Real Estate Leads Aren’t Responding To You
To be successful as a real estate agent you need to have a steady stream of incoming leads and you need to talk to those leads.
That’s why your follow-up strategy for leads is crucial.
Every well-running system needs a solid foundation. Just like a house, if there are cracks in the foundation it’s not long before other problems start to crop up.
And much like a house, you could end up spending more money than you need trying to band-aid the problem instead of fixing the root issue - your follow-up.
In your real estate business, band-aids could be:
Smart Alto is a real estate ISA company. Our ISAs spend every day following up with thousands of real estate leads until leads are qualified or disqualified to help agents maximize every lead and revenue-generating opportunity.
Here are 3 Ways To Follow Up With Your Real Estate Leads To Make Contact And Get A 15-minute Phone Appointment with them.
If you own a food truck and are trying to sell your product - your amazing food - you’re not going to spend every day sitting in your driveway, are you?
You’re going to hit the streets. You’re going to drive around until you find a place where people are gathering. Then you’re going to set up shop.
Just like the food truck driver, you need to meet your leads where they are, not where you want them to be (ah-hem, their inbox).
Look, people prefer to text.
85% of consumers not only want to receive information from businesses, but they wish they could regularly communicate with businesses via text.
Combine that with the fact that 95% of texts are read within 3 minutes of being sent and you’re really cookin’ with fire!
Texting is the best medium for following up with your real estate leads because it’s practically guaranteed that your leads will see it.
So what do you do if they see it, but don’t respond? Glad you asked…
We talk to tons of real estate agents who only attempt to follow up with their real estate leads once or twice.
They make a phone call, leave a voicemail and then send an email.
Your intention may be to follow up again, but things happen. Remember, you’re a busy real estate agent that has a ton going on, you have:
You mean well, but life gets in the way of your good follow-up.
But, you need to be reaching out to your leads until you make contact or disqualify them as a lead.
More than 50% of real estate leads are never followed up with more than once, but over 85% of leads will respond by the 6th follow-up attempt.
Think about how much these two subtle shifts could increase your monthly revenue.
If you have 125 leads per month, by texting your leads and following up a minimum of six times you’re maximizing the revenue-generating potential of those leads.
125 Leads/mo x 4% Lead Conversion = 5 Transactions
5 Transactions x $5K Average Commission = $25K
$25K x 12 Months = $300,000 per year
That means your poor follow-up is costing you $270,000 per year. That’s a lot of money.
The final, and admittedly hardest thing for you to implement in your follow-up foundation is increasing your availability.
In the online age of instant gratification, people hate waiting. Leads are more likely to move on to the next option on their list than to wait for their first choice to respond.
It’s just the truth.
Think about yourself.
When was the last time you waited for a product you really wanted? If you walked into Target and saw that they didn’t have it, what did you do? Did you wait for Target to get a new shipment of the product before purchasing it? Or, did you hop across the street to Walmart or check on Amazon?
Chances are you didn’t wait for Target to get a new shipment.
Your online leads are no different.
They aren’t going to wait for you to respond. Your lead response rates drop by 10x after just 5 minutes and continue to decrease even more the longer it takes you to respond past that.
That is why it’s crucial for you to respond to incoming leads within 5 minutes of receiving a new inquiry.
It’s not realistic for you to be expected to respond to your incoming leads within 5 minutes 24/7/365.
Not even your in-house ISA can be expected to do that.
Real Estate Agents that use Smart Alto benefit from economies of scale. We are so efficient at making contact and converting real estate leads into 15-minute appointments for our real estate agents because we have a team using a proven process with a strong foundation.
By now you probably see how the cracks in your follow-up strategy are causing you to miss out on hundreds of thousands of dollars every year.
To repair the foundational damage and improve your lead follow-up so that you can make contact and get more 15-minute phone appointments you need to:
But, again, you’re a busy real estate agent. Sure, you can easily start texting your leads, but you still only have 24 hours in a day. So how do you increase your availability and keep reaching out if time is your problem?
(Take Our Quiz To Find Out Why Your Real Estate Leads Aren’t Responding To You to see if time really is the problem.)
If time is getting in the way of your great follow-up then Smart Alto can help. We are a real estate ISA company that specializes in following up with real estate leads to help agents maximize every lead and revenue-generating opportunity.
After you take the quiz, book a demo today to see if we can help repair the foundational damage to your follow-up strategy and help you get more 15-minute phone appointments.