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Even in Web 2.0 Somethings Remain the Same

By
Real Estate Broker/Owner with Missy Caulk TEAM

Pipe on VA Beach, photo by Missy CaulkOld 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.

 

Photo by Missy Caulk taken on VA Beach 2-14-09

Posted by

 

Missy Caulk, Ann Arbor Realtor

Missy Caulk, Broker/Owner of Savvy Realty Group can be reached at 734-926-9797 or email: Missy@MissyCaulk.com

Our Team of 6 agents are available to help you relocate to Ann Arbor, Saline, Dexter, Chelsea, Milan, Ypsilanti Township, Clinton, Manchester, Whitmore Lake, or throughout Washtenaw County, MI.

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Comments(57)

Sonya Loose
Modern Realty - Beaverton, MI
Helping Buyers & Sellers of Waterfront Property

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!

Feb 25, 2009 01:10 AM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

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

Feb 25, 2009 01:15 AM
Kelsey Barklow
Hurd Realty - Johnson City, TN
423/948-9154

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

Feb 25, 2009 01:19 AM
Jason Crouch
Austin Texas Homes, LLC - Austin, TX
Broker - Austin Texas Real Estate (512-796-7653)

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

Feb 25, 2009 01:29 AM
Melina Tomson
Tomson Burnham, llc Licensed in the State of Oregon - Salem, OR
Principal Broker/Owner, M.S.

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.

Feb 25, 2009 02:53 AM
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

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

Feb 25, 2009 02:56 AM
Elizabeth Cooper-Golden
Huntsville Alabama Real Estate, (@ Homes Realty Group) - Huntsville, AL
Huntsville AL MLS

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!)

Feb 25, 2009 02:59 AM
Naoma Doriguzzi
Virginia Beach - Virginia Beach, VA
New Media Director

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

Feb 25, 2009 03:02 AM
Bruce & Mary Smith
Savannah Lakes Homes - McCormick, SC
REALTORS, Savannah Lakes Village McCormick SC

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! 

Feb 25, 2009 03:40 AM
asd asdasd
asdasd - Albany, NY

Web 2.0?

Feb 25, 2009 04:02 AM
Tamara Dorris
Master Your Market Real Estate Coaching - Carmichael, CA

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

Feb 25, 2009 04:07 AM
Maggie Dokic /Indialantic | 321-252-8696
Magdalena Dokic - Indialantic, FL
Selling the beach in Florida's space coast

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

Feb 25, 2009 04:29 AM
Maria Mastrolonardo, IL Probate Specialist
RE/MAX of Naperville & RE/MAX Enterprises - Naperville, IL
Illinois Probate Realtor

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

Feb 25, 2009 05:00 AM
AMBER NOBLE GARLAND - Top Real Estate Expert, Property Tax Appeal Specialist & Author
Strategic Marketing Expert & Relocation Specialist Serving New Jersey and nationwide! - Marlboro, NJ
- The Agent You Can Trust To Deliver REAL Results!

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

Feb 25, 2009 05:16 AM
Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

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!

Feb 25, 2009 06:54 AM
Wendy Rulnick
Rulnick Realty, Inc. - Destin, FL
"It's Wendy... It's Sold!"

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

Feb 25, 2009 10:54 AM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

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

Feb 25, 2009 11:24 PM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

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.

Feb 25, 2009 11:40 PM
Lee & Pamela St. Peter
Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522 - Raleigh, NC
Making Connections to Success in Real Estate

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!

Feb 26, 2009 07:16 AM
Dora & Vincent Kwok
HomeSmart Real Estate - Chandler, AZ
CNE - Chandler, Arizona Real Estate

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

Thanks

Mar 01, 2009 02:16 PM