I don’t get it.

A real estate agent will generate a lead, and then not follow up on that lead.

Why?

You find someone who wants to buy or sell a home, and you don’t close them for an appointment.   So, they are officially a lead.

Then you don’t follow up.

Why?

I’ve worked with agents who, when we first started the coaching relationship, had six months worth of leads.  The pile of papers was 4 inches thick!  And, here’s the kicker…they hadn’t called 90% of them after the first contact.

What is the point of generating leads if you’re not going to try to convert them to business?  Is it a comforting feeling to have a piece of paper with a name and number on it of someone who might be ready to buy or sell sometime?

You do know that you’re not the only one with that lead, right?  Other agents aren’t calling that person too. 🙂

Really, though, what is it?  You don’t know what to say?

All you need to do is ask them if they want to set an appointment with you.  If they say no, call them the next day, or two days later and ask again.  If you call them a few times and they still won’t set an appointment with you, guess what?  They’re not a lead.  Throw them out.

When working with buyers, one of the reasons you might keep the lead too long is because the buyer wants you to keep them in mind if the right thing shows up.  So, first of all, you better do some good prequalifying to find out what that “right thing” is.  And, second, if after a couple weeks they’re not seeing things that work for them, or setting an appointment, then the “right thing” ain’t ever gonna show up for them.  Or, if it does it will be way down the line, and you shouldn’t be holding on to them that long, you should be on to many more motivated buyers between that time.

Let’s get real.  When you want to buy something, do you sit around and wait for the “right thing” to come your way?  Hell, no!  You might research it, comparison shop, talk about it to your loved ones, etc.  You’ll do all sorts of things that keep you in the frame of mind of buying that thing you want.  If you’re sitting and waiting, you don’t really want to buy, do you?  So, why would a professional real estate agent chase a non-buying, wait-for-the-right-thing lead around when they aren’t even as excited to buy a house as you would to by the next Blackberry?

When it comes to sellers, someone either needs to or wants to sell, or they don’t.  What’s the hang up?  If you talk to someone who is thinking about selling, set an appointment and pre-qualify them.  If they don’t want to set an appointment, try again and again.  If after a short while (and I mean a short while, less than a few weeks), they say no, then they don’t want to sell.  Throw them out.

Okay, Scott, but what about the ones who say they want to wait until after the election, or after the first of the year, or 90 days, or whatever?  Well, if after you’ve tried convincing them that now is the best time to sell they still want to wait, then you don’t really have a lead.  Plans change, people change, markets change.  A lot of things happen in 30, 60, 90 days.

If you really want to try to convert them later, and I really think it’s a waste of time, then put them wherever you put your longer lead follow up and split the time they tell you to wait in half.  For example, if someone says they want to wait two months, you call them after one month to follow up.

Holding onto too many crappy leads will bog you down so much, you’ll miss the good leads.

Lead follow up is the key to doing lots of sales.

Really, why would you take the time to generate the lead and not follow up?

Scott Friedman

scott@yourethedifference.com

609-601-1296