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Even in Web 2.0 Somethings Remain the Same

Old Methods vs New Technology

Technology has enhanced our lives and business, but sometimes we just need to refresh our minds with basic old sales principals. Taking care of and growing that pipeline of future buyers and sellers ensures a consistent, steady source of income.

What is a Pipeline?

My first Broker taught me about the Real Estate Pipeline. The Pipeline Principal is this, “What you do tomorrow is determined by who is in your pipeline today.” In other words, if you want to go to closing or settlement in April or May, your pipeline must hold people ready to buy or sell today.

A Proven Principal

The Pipeline Principal holds true even in this world of Web 2.0 or Web 3.0.

Our busy time of the year in Michigan is the Spring and Summer market where most of our closings occur. Therefore, to plan on having a closing in November or December, (when the market is slow) we have to have a pipeline of folks ready to buy or sell in October or November.

Who is in Your Pipeline?

Your pipeline is made up of your buyers that have told you they will be ready in 6 months, people that are moving when school is out, people working on their credit repairs and any leads that have been returning to your web site. Life changes and folks in your pipeline may be pushed to the top by the changing of their circumstances.

Keep In Touch

Keeping in touch with your potential and past clients affords you the opportunity to be there should events change in their life that will effect a move. Remember the sellers who have told you at a certain time next year they may be relocating, or you hear they have a new baby or get married. Keeping in touch with past clients will enable you to keep your pipeline full. If you have folks in your pipeline, it is time to get on the phone and call them up.

A Friendly Call

Hi, Ms. Buyer,

“Last time we spoke you mentioned you would be ready to buy in March, I’m just checking in to see if that is still your time table?”

Hi Mr. Seller,

“Wow, I can’t believe your residency is over, do you know where you will being practicing when you finish?”

If I don’t have a closing in a particular month, that is not a concern to me; however, if my pipeline of future buyers or sellers is empty, THAT is a concern.

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Posted by Missy Caulk-Ann Arbor-Realtor® Ann Arbor Real Estate on 02/25/2009 07:26 AM

Comments (59)

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59 Comments on Even in Web 2.0 Somethings Remain the Same

FEB

2009

A very good reminder Missy. My pipeline is growing expecially due to the localism posts I have been doing.

Quick question Missy, did you come from a sales back ground prior to real estate? This is the way business sales happen forecasting and pipelines...back to basics..

Missy... this is so true. I have been using the term pipleline since my first year in the business. Just because a client can't settle in 30 days, doesn't mean that they can be added to your next month, to build that pipeline. Gee, I have 2 closing in April already. I don't mind, because I am building my future pipeline. Overall, this should basic sales, but I have seen many that failed, because they never looked at past a 30 day pipeline. nice job here...

Jeff Belonger

Touches, keep touching, let them know you are there and the one with the most friends wins

Dave

Missy, I have found that blogging and subsequent Internet leads have truly become my pipeline as most of these leads are 6 months or more away from buying or selling. I am so grateful to have discovered Web 2.0 when I did! I hope you are doing well!

Good points, Missy! It is so important to stay in touch... :)

Missy - This is the answer to the question that new reators need to ask. How long before i get paid? It starts with the pipeline.

Yes we need these reminders..not just emails but sometimes we need to pick up the phone..thnx for keeping me on my toes Missy

Missy...SOOO true! And to keep that pipeline full, you gotta keep in touch! It's something I've got to improve some...but hey, I've sold a condo to a guy I met at a social event TWO YEARS AGO and he was finally ready to buy, and worked with me because I kept in touch!

Pipeline with a Purpose!

I had an investor call me today after I responded to an inquiry he left on my website. He said he had sent several and I was the only one to respond - and complemented my promptness. I don't know when half the people I correspond with will buy - but I am all about building my pipeline - build it and they will come :-) I trust you have a lovely time in Florida once you got there.

Thanks for the post Missy. As a manager once told me 15+ years ago, if you don't have a solid pipeline, the only thing you have is a "pipe dream".

I went through my prospect list, (the people that are on auto pilot to receive listings) and called them all recently. I agree that we need to reach out by phone and not just emails.

Missy, I love the pipeline!!! I've alwys considered it as my pending transactions. My goal is to always have minimum 6-7 deals waiting to close. Of course now with prices being so low I need to have about 20 pendings!!!!

You need a lot of both of the old and new...nothing replaces belly to belly.:)

It sure does feel great when that pipe line gets very large:)

Missy this is so true if your pipeline is consently filled with potential people your closings and paychecks will never be an issue. Here's to a great quarter.

My step-dad taught me about "pipelines," Missy - one of the best things I ever learned from him! It's such an automatic model for me, I rarely think about it any more. Thanks for the reminder!

Oh how true - I had an old broker one time stand in front of us with a used paper towel roll and he started filling it with tissue and he keep doing it and doing it - remaining silent - Until it finally came out the other end, then he spoke. I never forgot this visual

Good discussion, Missy. I work with a lot of reloating buyers, and the pipeline there is rather full, BUT determining the timeframes is far more difficult, unless folks are actually in the process of moving or taking a new job. Always a challenge as the time frames often change (usually getting extended).

Jeff

Relationships. No matter what marketing approach we take, relationships must be the end goal. Nice entry Missy.

It is so true in real estate or any business. What a difference a call can make. Enjoy your blogs always.

So many agents only want the "Right Now" buyer. Well I can't work with 10 buyers at once! I need some for next month and some for next fall!

But... But... If I keep my pipeline full, how do I get the roller coaster thrill ride?

Good post.

And now we have so many new ways/tools to build, grow and take good care of our pipeline so there's no excuse for anyone not to do so!

Missy...even with all these new tech advancements the 'good old basics' still hold true and important...simply timeless...

With smiles,

Missy,

Buyers need to be worked and worked with...!!! Thanks, Fran

Missy- This is the hardest lesson to teach agents and for agents to learn. Nestor is SO good with follow up and follow through and keeping in touch. That is how we get these multi million dollar listings because most of the time they don't list that same day and then they get busy at work etc. We keep in front of them with mail and calls and emails.

Missy... a great reminder to keep the pipeline full.. or at least place new prospects there...and work them

Hi Missy, It sounds like we all need to get back to the basics. In real estate's attempt at re-birthing itself, a few things were left out , like the Pipeline. It is a truth that no amount of technology could ever circumvent it.

FEB

2009

Missy - I preached to my agents today about the pipeline. Listings in February means closings in May. That seller pipeline needs to be filled this time of the year. Thanks for sharing!

The pipeline is a great metaphor for lead generation and database management. Technology makes the process easier, but still doesn't replace the human touch.

Missy...

If I can blow through the pipeline BB is in BIG trouble :)

TLW...ROAR!

Great reminder Missy. At the end of the day our business is primarily a people business and following up past clients sometimes goes to the bottom of the pile of things to do. Well said, thanks.

Missy,

And continued prospecting to feed the pipeline is important.

We have to apply the basics to the new technologies. In our office it's called the funnel--same thing. You have to keep feeding that funnel or it won't feed you. But it's not hard. If you are a gregarious person you do it naturally.

Hi,

Myself Jimmy from Canada. Nice Blog. Thanks for the information. I would like to know more about.

Jimmy

Drug Intervention Massachusetts

Missy,

I was taught that when the going gets tough the tough get back to basics!

Great post.

Bill

Its tough out there at we all need quality leads to make a sale or get a new listing.

Why not become a property reporter at Property News Today and tell the world your local property news by posting a blog, video or plain old news in the section of site.

Buyers and Sellers trust agents who know what is going on in there local community. Help our website visitors learn about the latest information in your area and in turn gain there trust to use you to move.

It takes a few minutes to become a reporter and post your first blog, news or video and get on our home page to drive traffic to your site.

This is a great post and even in the ever changing environment of social networking & blogging and whatever else will come at us the tried and true principles of success will not change!

Missy, Keeping in touch is so basic and so important. It gets back to having good systems in place.

Thank you so much for this reminder. I prefer to email but I KNOW that calling is so much better. Thanks again.

Missy - Good stuff - this is Real Estate 101. Thankfully, I am happy to report that my pipeline is filling up rather quickly this year. :)

That's why the automatic listings are so great. They keep those 9-12 month out buyers "in contact" with you via that automatic process, so you can focus on your today buyers, while filling your pipeline at the same time.

Your market is like ours that I make most of my money for the year from April-October. It would be nice if that pipeline had a little bit more consistent flow, but I am grateful for what I have going right now.

Oh yes, the pipeline needs to stay full - otherwise there are certain issues.

Missy, Oh so true. I too learned early on to have my pipeline FULL at all times. I can tend to get a bit laxy dazy when I'm working with several at a time and lose focus of the pipeline. Working on that :)

BTW: No pressure...sold the Makarov's a home yesterday, lol. Closing April 30th. (not contingent, so you can sleep well, ha!)

Great post! It is so important to keep the pipeline full at all times! Otherwise you will be scrambling every month.

We keep that pipeline growing! Keeping in touch will never change, no matter how much everything changes! I like what someone said above about getting back to basics when the going gets tough! Thanks for the great reminders!

Web 2.0?

Hi Missy,

Great post---it's such common sense, but alas, that's sometimes missing, isn't it!

This should be taught to all new agents, and I do my best to teach it in the college I teach at.

Thanks!

Tamara

Missy, great reminder. If that pipeline's not filled and moving, there's trouble up ahead for sure.

Missy - Great post! It's so important to keep the pipeline full :)

You are sooo right about the pipeline Missy. I think keeping things flowing and automated is absolutely critical to our success. Nice post!

Missy, this post brings me back to our recent conversation during my time in Ann Arbor. Although, I've heard this before, what you said about keeping track of leads and monitoring them really struck a chord. You're so on target!

Missy - I think there is going to be an AVALANCHE of sales in 6 months. Excellent reminder to agents wanting instant gratification.

FEB

2009

Hi Missy! First of all, congrats on that little gold star! I have to say that, much the same way we work our SOI, we MUST stay on top of the Web 2.0 leads--they're ALL an investment in our future! Some say that working those online leads are a waste of our time--I've got my accounting books from the last three years to prove that it's WELL worth keeping that Web 2.0 pipeline OPEN and FLOWING!

Debe in Charlotte

Oh guys, I just got home last night. I did not have good connection in our hotel in Orlando, even though I was paying 9.00 a day for it. So couldn't log on to comment back until now.

Elizabeth, wow that is such great news. I know they are busy getting it in show condition. Such nice folks, and a really nice home and location is fantastic. I will work hard for them.

Vanessa, no I was a Social Worker. LOL

Jon, Google it, I can not possibly answer that in a comment or a blog post. But, you will learn tons.

Great advise Missy. I just got a call from Top Producer to be their success story for next month and this is exactly what I talked about. Keep that pipeline FULL!

MAR

2009

Hi Missy - Yes, The pipeline is fileld with Lead Generation...yes, we are in the Lead generation!

Thanks

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Missy Caulk-Ann Arbor-Realtor® Ann Arbor Real Estate

Ann Arbor, MI

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Keller Williams-Ann Arbor

Address: Ann Arbor, Saline, Dexter, Chelsea, Milan, Whitmore Lake, Ypsilanti, Manchester, Washtenaw County, Ann Arbor, MI, 48104

Office Phone: (734) 926-9797

Cell Phone: (734) 216-2822

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