Good ‘ol fashioned sales skills are still the name of the game
Modern real estate marketing encompasses many technical aspects, from search engine optimization, search engine marketing, and Internet lead generation to email marketing and customer relationship management platforms. Technology certainly increases the opportunity for you to engage with consumers, however it’s at the point of connection (typically over the phone) that often makes or breaks your opportunity. BoomTown and I recently hosted a webinar with real estate industry expert and coach Matthew Ferrara, where we discussed what it takes to win the hearts, minds, and business of consumers looking to purchase or sell a home. Good ‘ol fashioned sales skills are still the name of the game.
This may sounds like a simple and obvious note, however “being there” takes discipline. According to the National Association of Realtors (NAR) report, 2014 Home Buyer and Seller Generational Trends, agents who are first to respond to a prospective client inquiry are generally successful at securing business, positioning themselves to be in that 66% of agents selected to represent a client after only one interview. Make sure that you have a standardized follow up process in place for every lead and if the volume is too high to manage, consider hiring an Inside Sales Agent (ISA).
Persistence pays off
95% of online leads are abandoned by real estate agents within the first four days, but within 12 months 60% of these “trash” leads have transacted (not so “trashy,” eh?). To ensure persistence, follow daily and weekly habits for lead follow up. Set automated emails and reminder notifications to touch base. Look for behavioral signs that signal the appropriate time to reach out. Many lead management systems offer this insight and will notify you when a lead is active on your website.
Informed responsiveness is key
93% of all buyers report responsiveness as a very important factor in selecting an agent. When you respond, don’t dive into a sales pitch. Ask questions and listen first. As Bob Corcoran of Corcoran Coaching describes in this interview with BoomTown, lead with service and tailor your approach to the individual. Your lead management system should provide ample information about each registrant. What have they searched for in the past? Have they just favorited a property, performed a mortgage calculation, or shared a listing with a friend? These behaviors will provide the background intel that is critical for tailoring your follow up.
Stay in touch
Only 20% of satisfied customers use the same agent again! Don’t lose touch with your happy past clients! After the closing, focus on keeping your communication consistent. For example, a Chicago agent who averages $55 million a year in production spends the first 30 to 45 minutes each day Monday through Saturday calling past clients. This daily discipline is a critical component of her continued success. Also, only share relevant and helpful information that positions you as a trusted resource and real estate expert. This includes market statistics, city planning data, financing tips, and news on the economy, not cherry pie recipes!
For a complete rundown of the skills needed to win in the real estate world, check out our resource below.