“Not following up with your prospects is the same as
filling up your bathtub without first putting the stopper
in the drain.”
Michelle Moore — SELLING SIMPLIFIED
FABLES TOLD ABOUT REAL ESTATE
THOUGHT FOR THE WEEK OF ALL THE FABLES TOLD ABOUT REAL ESTATE, my favorite is the one by Aesop — of the Tortoise and the Hare.We should all the know the story…Speedy hare brags to tortoise about his quickness. Tortoise and hare agree to race. Hare leads the race — takes nap. Tortoise passes sleeping hare and wins race. The generally accepted moral to the story..haste makes waste. Slow and steady takes the prize. However, there is more to this story… and a lot more as it relates to real estate agents.
FIRST, LETS TACKLE THE STORY ITSELF..As the race is
concerned, the hare is physically superior to the tortoise in running the race. The hare — could, should, and would have run the race if he wasn’t lazy and overconfident. It is also save to say that the hare would learn from this, and on every subsequent race with the tortoise — the hare would win again and again. So — we can say, aside from the first race loss — the hare would win the next 99 — and have a 99% win percentage — an enviable record by any standard even by Aesop.
Since both the tortoise and hare have same objective — to finish the race — -both serve a function in the story.
I believe real estate agents fall in these two categories of the hare and the tortoise. Although both want to cross the finish line and close the sale-both have a separate agenda and method to get there. In addition, with a 99% win percentage, the hare has an enviable win percentage — even by Aesop’s standards.
LETS ADDRESS THE AGENTS I CALL THE HARES…
These agents are capable and ready to close deals. They have multi-year experience — been through a variety of tough deals, and have streamlined their methodology in customer assessment and qualification. They are generally confident in their abilities — and generally work hard and smart, yet they have an Achilles heal that I will address shortly. The TORTOISE, on the other hand, is relatively new in the business. This agent- with limited referrals and recurring business- works hard and maximizes output with a steady and deliberate followup with leads and lead sources. The Tortoise Agent works hard..but does not close as many deals as the Hare Agent.
ALL TORTOISES WANT TO BECOME HARES..Why wouldn’t they.
If they win or close 99 out of 100 deals, the HARE is a desirable goal. Yet the Hares have an Achilles heal — they did lose a race and not close a deal. These agents do become lazy. Followup sometimes is lax — and customers sometimes fall through the cracks.
HOW DOES THE HARE NOT GET CAUGHT NAPPING??
Or how does this agent maximise deal flow..REALTYKA is a lead generating source. Every lead needs followup to bring closure; and closure doesn’t have to necessarily refer to signing a client or closing a sale. Closure means acknowledging a decision that either you make or your customer makes. Leads have a productive shelf life. Agents must understand this. The first seven days of a lead are the best. Agents need to get a customer decision in this time — or make an agent decision as to the buyer viability of this lead.The first seven days are critical — and the first three days of the seven are super critical.
Use this formula in the first 24 hours. Immediately text the lead..if no response in 15 minutes — Call the lead directly. Why text first??? Texting generally means I need you to respond. If lead at work, commuting,or unavailable to talk, texting may be the only communication link in this critical time. Follow up the text with a call and another “urgent response” text if no contact within first 4 hours. During the balance of the first three days, text, call, and email the lead. Use email only to provide specific home info that may spur the lead to respond or react. In the fist seven days — a total of at least seven contact attempts must be made. If no response, then send the “I made a decision” email. This email states either..
1. I assume you have made a decision to not view or inquire about the house.
2. The house in question has had many showings. I anticipate owners will have offer shortly.
3. The house you inquired about is under contract. In either scenario, offer your services in their next house hunting search; but bring closure to this current search.
AGENTS MUST NOT GET LAZY..
Contact is critical..Make every attempt to get the client lead to respond.
IN THIS GREAT REAL ESTATE RACE,
both types of agents close deals..The TORTOISE AND THE HARE have their roles in this race. But I do believe that Tortoise agents desire and work to become Hare agents. This desire is just another form of competition that the Hare agents face today. The Hare agents today must want more. Winning 99 out of 100 is great — but winning 100 out of 100 is even better. We must always