What is lead generation? What does lead generation mean for your real estate business? Learn more here!
The Real Reason You Should Follow-Up with Your Real Estate Leads
The average realtor follows up with a lead within 40 minutes and only follows up twice.
These numbers are just not good enough in today’s real estate business. The average realtor only converts .5% of leads into a closing. So, having predictable lead generation systems is crucial for the success of your real estate business.
But as you have demonstrated by your dedication to learn to perform at the highest level in the real estate business, you are not the average realtor.
Let’s now dive into what steps you can take to turn your leads into appointments and point them toward closing.
Following Up in Real Estate: Turning Your Leads into Closed Deals
Consider these averages about real estate lead follow-up:
- You must follow up with a lead 15x before that lead will reach back out to you.
- Each lead will reject an appointment 5x before agreeing to meet with you.
- Every consumer is sold to 2,000+ times each and every day.
What these statistics should showcase to you is that you must be diligent about lead follow-up.
How to Turn Your Real Estate Leads into Customers
So what steps can you take to turn your lead pool into customers? The answer is in the follow-up.
We recommend, at a minimum, that you follow up with every lead 21 times in the first 30 days. You can use any combination of phone calls, emails, and text messages. The key is to reach out 21 times in the first month of your relationship with a lead.
You may receive just a handful of voicemails and responses, but that’s okay. It’s expected and industry-wide.
Persistence is Key in the Real Estate Industry
You can only focus on and control your actions. So your job is to continue to follow-up via phone, email, and text until you can get a lead to respond to you. After they’ve connected with you, you can work with that lead to identify goals, expectations, and time frames for purchasing or selling a home.
In real estate as with anything else, hard work and persistence are key. Without that, your real estate business won’t be able to reach its full potential.
What business goals are you trying to reach in this year, quarter, and month? Write down your goals and be sure to track the numbers. By tracking all of the times you have followed-up with your leads, you will begin to see a correlation between closed deals and the amount of times you’ve followed up with prospective customers.
Looking for a way to simplify tracking and to accelerate your real estate business growth? Connect with us to get started!
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