The fortune is in the follow up. The problem is most real estate agents (and most salespeople, in general) don’t do enough follow up. We know conversion happens at a higher percentage after six attempts. Yet real estate agents, on average, follow up 2.7 times. 

On top of that, it’s not just about “following up” or “checking in.” The key is value-based follow up that can help you when engaging with prospects. 

So today, I’m sharing six strategies you can use to deliver value and will move the needle forward in your business.

Strategy #1—Leverage local market information

One of the worst things you can do is say something like, “Hey, Wendy, I’m checking in. How are you?” Because all you’re doing is you’re checking in to see if they’re ready. 

There are much more effective ways for you, as a real estate agent and salesperson to create engagement. 

The first is going to be leveraging local market information. 

  • What are the trends in their town, in their city, in their school district? 
  • Is there a piece of sales data or a new home offering that a prospect or a client should be aware of?

That will get people excited. They want to know what’s going on in the local market. And real estate is super local. So, use your MLS to determine what’s happening in the zip code, the township, the town, the city, the school district, however your market is searched and divided. 

That’s what you want to understand. And you’ve got to know those stats cold. 

Strategy #2—Highlight relevant trends in home sales

The next strategy is highlighting relevant trends in home sales: 

  • “Average days on market is ____.”
  • “The average list-to-sales price ratio is ____.”
  • “For homes at this price point, we’re seeing that the majority of people are waving inspections.”

Highlighting these trends and knowing local market stats will enable you to have conversations about things that are important to buyers. For example, if you’re talking to a buyer about a home with a septic system, you can advise them about septic inspections. If the home has stucco, you can talk to them about getting a stucco inspection.  

These are conversations that can help your client avoid big trouble down the road. Don’t be afraid to have conversations that force you to spend more time building your knowledge base. 

  • What are the trends in home sales right now? 
  • How many homes do you have to look at to find something you want to make an offer on? 
  • What’s the average amount of homes buyers are looking at? 

All this data is available on your MLS, on places like nowbam.com or Lance Lambert’s ResiClub. All these trends are there, and the trends will help you navigate and guide home buyers and sellers through the process. 

Strategy #3—Determine their motivation and timeframe

Number three, determine their motivation and their timeframe. If a prospect is not motivated, it may not be worth following up with them, to be very clear. 

Say, for their timeframe, they’re looking at moving in the next year, and their motivation is to move closer to family. Now you know some things and you can follow up appropriately—instead of over-following up or turning them off with the aggressive cadence you’re using to stay in touch with people.

Once you determine that motivation and the timeframe, you’re going to be in much better shape. 

Strategy #4—Play the long game

Most real estate agents don’t think long-term. 

I’m telling you right now: When someone tells me they want to buy or sell in a year, I get excited. I think, “Okay, well, that’s going to be here before we know it. Let’s start nurturing them.” 

Because, first of all, a year could mean six months. We see people move their timeframes up all the time for the right opportunity. 

Secondly, I’m not doing anything else. I don’t have a backup plan here, so this is the only thing I’m going to do. And the people who follow up long-term win. 

If you can be the first person to meet with somebody, you’ve got a 70-plus percent chance of getting hired. These are NAR statistics. 

So if you hear a year, two years, three years, all good! That’s the stuff you want to be aware of. Don’t give up if they have a longer timeframe. That’s where all the money’s at. 

Because then, if you’re delivering value, you’re exceeding expectations in your interactions with these folks, they’re not going to interview other agents, and you’re in the right spot to earn and win the business. 

Strategy #5—Understand the financing process

I can’t tell you how many times home buyers have said, “I think I need 20% down,” or real estate agents have said the same thing. 

Are you kidding me? That is malpractice. You have to know—

  • All the financing programs in your area 
  • Where rates are coming in
  • Are there any first time buyer grants? 

You need to share all the options for people so they’re able to make an informed decision. You could be the agent who finally makes it possible for them to buy a home after they’ve worked with other agents who weren’t educating them at the same level.  

Strategy #6—Realize that getting the appointment is the biggest benchmark

And number six, realize that getting the appointment is the biggest benchmark. Whoever goes on the most appointments is going to sell the most houses. 

That’s the number one indicator for everybody. 

All your follow up is with the goal of getting in front of them. Real estate agents and Realtors all say, “I’m better in person.” Great! What are you doing to get in person more often? 

The more appointments you can set, the better. If you can do that, you’re going to move more people through the funnel. 

But don’t use the lazy follow up. Don’t use the “just checking in” line. 

Use relevant follow-up when engaging—and you’ll start seeing results.