Key Details:
- A RealTrends & BoomTown Case Study revealed best practices from top-performing agents and teams.
- Survey results show the importance of frequent follow-up—agents who make ten or more touchpoints per month have 39% more transactions than their less-communicative peers.
- The survey also shows that agents who follow up with new and past leads and have a database of more than 500 contacts close more deals than those who don’t.
What do the nation’s top-ranking real estate agents do to achieve remarkable results?
It’s a question that was analyzed in a RealTrends & BoomTown Case Study, with survey findings that uncover best practices that consistently lead to more transactions year after year.
The study goes beyond the realm of your average first-year real estate agent. Survey participants included top agents and teams from the RealTrends + Tom Ferry “The Thousand” and “America’s Best” lists—so rest assured, we’re diving into strategies utilized by the best of the best.
If you’re looking to close more transactions this summer, read on for three critical takeaways from the case study.
Touchpoints Matter: The Key to 39% More Transactions
When it comes to effective follow-up, the study found a significant correlation between the number of touchpoints and real estate success.
Agents who make ten or more touchpoints per person, per month achieve 39% more transactions than those who aren’t as communicative. On average, these highly engaged agents close 75 sides, while those with fewer touchpoints close an average of 46.
So, how do you reach ten touchpoints per person, per month?
Utilize a combination of touchpoints for every single person in your database:
- Phone Calls
- Texts
- Emails
- Digital advertising
- Direct Mail
- Personalized videos
In other words, vary your approach to getting in front of your prospects. When people start seeing you show up on their phone, in their mailbox, and on their social media feeds, they’ll grow to know, like, and trust you, leading to more business.
Just make sure you deliver value with every touchpoint or risk losing their interest and diminishing the trust you’ve worked hard to gain. For follow-up strategies that establish you as a knowledge broker, dive into these tactics from Byron Lazine and Tom Toole:
When it comes to leads, bring in the new—but don’t forget about the old
You know that follow-up is key to success in real estate, with agents completing 22% more transactions when they have a follow-up process for new and past leads compared to those who don’t.
And those past clients matter more than you might think. Agents who reach out to past clients and new leads consistently close 10% more transactions than those who focus solely on new leads. The same is true for your sphere of influence—agents complete 9% more sides when they include their sphere in marketing campaigns.
Simply put, include everyone, and use a CRM like BoomTown to sort and tag all your leads appropriately.
To dive into the intricacies of managing lead generation time with all those prospects, check out these posts from Tom Toole:
- How to Organize Your Lead Generation Time
- Overcome CRM and Lead Generation Overload with this 7-Step Checklist
Use a systematic approach to keep track of everything
As far as prospects go, the more you have in your pipeline, the better. Agents with a database of 500 contacts or more do an average of 25% more sides than those with fewer than 500.
Start growing your database by including every type of prospect in your CRM:
- Sphere of Influence
- Former Clients
- New leads
As you grow your database, use your CRM to your advantage. Agents who use a CRM for day-to-day operations have an average of 18% more business than those who do not. Real estate-specific CRMs, such as BoomTown, offer invaluable functionalities to streamline your operations. They enable you to keep track of every conversation, schedule follow-up reminders, and consistently nurture leads.
You can effectively manage and nurture your expanding database by harnessing the power of a comprehensive CRM. It empowers you to stay organized, maintain consistent communication, and cultivate relationships that lead to increased transactions in the real estate industry.
Final Takeaways
The RealTrends & BoomTown Case Study unveils winning strategies utilized by top-ranking real estate agents. The good news is everyone can incorporate these strategies into their business.
If you haven’t already implemented these tactics, start today:
- Make ten or more touchpoints with every lead, every month
- Follow up with all prospects: new leads, former clients, and your sphere of influence
- Grow your database to 500+ prospects, and use a CRM to systematize your lead generation time
Incorporating these strategies and utilizing the right tools can significantly contribute to your success in closing more transactions.
