I heard someone once say, “The fortune is in the follow up”. When it comes to a thriving real estate investing company this statement hits the bulls eye for accuracy.
A consistent flow of seller leads is the life of real estate investing companies. We must have consistent leads coming in to flourish.
Many investors place the majority or all of their focus on brand new leads. If the homeowner is not ready to sell right then and there they move on to the next lead and that one goes to the trash. Forgotten about for good.
Forgetting about the leads that were not ready to sell immediately is a huge mistake.
Consistently following up with leads is a MUST! Not just one time but continuously until they sell the home to you or someone else.
They key to following up with leads is having a system that automatically reminds you to follow up. A system where you can set a reminder out for any given time period whether it is two weeks, a month or even a few months.
When you speak to a lead and they are not ready to sell, all you have to do is place it in your calendar follow up system and it will remind you when to call next.
I suggest to follow up every 30 days with most leads. You may need to schedule some out a while longer but keep following up.
When you place a lot of focus on these leads you will start to build up a pipeline of consistent deals that come through when you least expect it.
You will start to see that the majority of your deals end up coming from regular follow up over time. Some may come to fruition in a month or two while others may take six months to a year or longer.
An important part to an effective follow up system is to be able to set the quality of the lead. For example, you can have the following statuses for lead quality:
Urgent, Hot, Warm, and Cold.
By having the ability to set the quality of the lead you will be able to prioritize which ones you call first. When your calendar starts to fill up this will make it easier to see which leads are the most important to contact on that day.
The system you use should have a calendar view so that you can see how many leads you need to follow up with on a given day, week or month. It should also allow you to keep notes on the lead as well as their contact information.
Each time that you call a lead you should make a note in your system. Notate the date and time as well as what was said if you do speak with them. Also, make a note describing what you need to do next time you call the lead.
Keep very detailed notes. It is easy to forget what was said in conversations as time goes by. This will be key to jog your memory next time you reach out to them.
Remember, timing is everything when following up with leads. Some will be ready to sell right now but many will not be ready quite yet.
Make sure you are the one that is right there for them when they are ready, not your competition.
The fortune really is in the follow up!
I hope that this post was very helpful to you. If it was, please share with someone who you think may benefit from it.
Here’s to your success!!!
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