"Follow up until they buy or die" (who dies first?)

By
Real Estate Broker/Owner with Maxus Realty Group - Broker 301-246-0001 Broker - Realtor - CEO

 

"Follow up until they buy or die" 

A lot of agents have fallen onto believing that this could be a good path to take their business into.. .
May I interject that the dying part. .. might just be talking about you! 
The reason? 
We are chasing the wrong leads. . 
Wrong Leads = No Money 
No Money > Your Business Dies

Your business dies while following the wrong leads.

Unfortunately, 
Most real estate agents are committing this mistake every single day 
They chase non-productive leads , 
wasting their valuable time and money...
while diluting their services 
because they are not really sure if
the real leads are real or not

We really have to stop chasing less and start attracting more. .

i.e
Joe Blow goes to the Internet curiously to see pictures of his boss's house, 
he just found out is for sale from his co-workers..
and the interior pictures are everywhere on the Internet
Suddenly 
Joe Blow is now considered a lead. . . attracting dozens of agents attention 
"Are you ready to buy? "
"Are you pre-qualified?"
"Come to my office.."
"Here are more houses to see..."
"Do you have to sell?"

Joe Blow does not want to buy a house....
he was just curious about his boss's house

This pattern is repeated millions of times I suppose...
A person looking for decorating ideas..suddenly becomes a lead
A 17 year old high school dropout is dreamingly looking @ million dollar homes ....suddenly becomes a lead
A curious neighbor looking for dirt on a neighbor's house that just came out for sale ...suddenly becomes a lead
and on and on...

"Follow up until they buy or die"

No wonder our conversion rates are the worst of all other industries..
Worse yet..
Now agents are getting even more weirder and desperate...
They are not even waiting for the Joe Blows to be curious about house interiors anymore..
They are aggressively pursuing them by cold calling them...
These (PERCEIVED LEADS) are not even sure they want any part in real estate...
Somehow, someone stamped a "LEAD" tag on their foreheads
and now. .
magically they are part of a game..
A hamster wheel game of chasing that never stops...
Wasting time and wasting money..

"Follow up until they buy or die"

The best advice I ever heard is...

You don't have a business if you don't have a system 
You don't have a business if you don't have a system that produces leads
You don't have a business if you don't have a system that produces leads and you know exactly how much it each lead costs 

Instead of chasing a bottomless pit of dead end leads..
You should be perfecting your system to find the right formula 
Analysing how much you spend to advertise it 
and how much you earn on each dollar invested

This is the reason why 
We are stepping to another level attracting buyers for our company. . 
This is designed to assist buyers in qualifying themselves while giving them the power to choose how they want to buy..
This will help us..
not to make the same mistakes that most real estate agents are committing every single day 
To chase non-buying leads while wasting their valuable time and money...
A quick way to dilute their services 
while ignoring the "REAL" leads..
because they don't really know. .
which is Joe Blow? 
and which is Joe "The Buyer"

Our method is much simpler..
We've created systems with funnels
and we are asking the buyer..
Are you a real buyer or not? 
The ones that respond to be real..
then
We give them the world and more..
We will nurture them 
We will be devoted to them
We will give them attention
We will listen
We will care
We will invest money and time on them with brochures, guides, gifts, personal notes and lunch invitations
Why not? 
If they have indicated they want to buy..
Our focus should be just on one person....
and not wasting time and money on 99 other Joe Blows out there.

So, our game has been elevated, 
We are asking buyers to qualify themselves as real buyers. .
and my agents and I will give them the attention they truly deserve

This is our funnel 
To Guide Buyers into our system..
http://reallynicehomes.convertri.com/home-buying-guidance
 

                                                                               


Once we perfect it...we will invest money to attract the Joe Buyers out there
We will use Facebook, PPC, postcards...etc
and 
we will rinse...
and repeat

If you don't have the tools to create these systems easily for your business.
Let me know in a comment below and I will send you information how to do this very easily 
plus I will also share with you the templates I used to create our funnels.
where you can just change the pictures, logos and the links...
directing people just to you

Good luck

Come join our Facebook group: Lead Attraction Ideas for Real Estate Agents for more ideas HERE

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
Topic:
Real Estate Technology & Tools
Groups:
Realtors®
Tags:
lead generation
real estate
funnels

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Rainer
42,754
Chris Kallin
SeattlebyDesign / Realogics - Seattle, WA
Broker

I like the idea of funnels.  It's something I'll keep in mind as I work to help my team focus their efforts.  I also very much like the idea of simply asking a buyer if they are real or not (and then believing them).  Too few actually do this.  If a prospect so much as hints as a buyer, many agents bite and don't let go.  I once watched my father land a 45-pound ling cod that gave it's life because it had bitten the rock cod that had bitten the mackerel that he had used as bait.  All the way to the boat they came because they were stubborn.  Only the bait-fish was hooked.  The others simply wouldn't let go... and they paid the ultimate price for that.  This analogy often applies to agents who won't let go and allow their resources to be drained for naught.

Oct 20, 2016 10:51 AM #1
Ambassador
3,935,233
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Fernando- you make an excellent point.  Following leads that aren't truly leads but "lookers" can be a waste of time.  Having procedures in place, as you said, is what you need.  

Oct 20, 2016 11:15 AM #2
Anonymous
Barbara Snyder

I would love to know how to do this easily. I have been trying a more cumbersome way of doing this and know that you are correct.

Oct 20, 2016 11:32 AM #3
Ambassador
1,603,981
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

Sounds like cool ideas and yet it's still a numbers game and those that are trained to best understand the numbers games wins at it.  

Oct 20, 2016 11:57 AM #4
Rainmaker
498,361
Terry McCarley
REMAX Realty Team - Cape Coral FL - Cape Coral, FL
REALTOR, SRES, CDPE - Cape Coral, FL

I would love information on your system.  I have system in place but it desperately needs improvement

Oct 20, 2016 10:09 PM #5
Rainmaker
3,671,747
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Fernando. I love your title and agree, there is no down side to follow-up.

Oct 20, 2016 11:16 PM #6
Rainmaker
3,053,914
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Fernando Herboso - Broker for Maxus Realty Group "You don't have a business if you don't have a system that produces leads and you know exactly how much it each lead costs...You should be perfecting your system to find the right formula...Analysing how much you spend to advertise it...and how much you earn on each dollar invested"

Right on target - and - re-blog!

Oct 21, 2016 12:15 AM #7
Anonymous
Truett D. Neathery, Appraiser

Very nice article, Mr. Herboso! I've been in the RE sales business in the past, I have to laugh when I hear an agent say "Whew! Am I bushed! I showed 20 homes today and we're going out again tomorrow, after we pick up auntie, uncle and mother-in-law!"
ABC! "Always be closing".

Oct 21, 2016 09:07 AM #8
Rainmaker
424,789
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

Hi Fernando. I could use some better systems if you are still willing to share. Thanks for the post.

Oct 21, 2016 09:45 AM #9
Rainmaker
97,524
Eileen Begley
Coldwell Banker, DelMonte - Carmel, CA
Monterey Real Estate

You made some really good points - especially about following up on the wrong leads!! Some good ideas, I am going to ask more questions up front!

Oct 21, 2016 02:49 PM #10
Anonymous
Jennifer Thomas

Hi Fernando, I really liked your article. I'm pretty new and want to start off right so if you could please send me some tips as per your article at jennifer@avisionforhomes.com I would definitely appreciate it. Looks like we are in the DMV! I service the Alexandria Virginia and Lake Ridge/Woodbridge area in Prince William County

Oct 22, 2016 02:37 AM #11
Rainer
22,457
Robin Hobbs
Front Gate Realty - Madison, MS
REALTOR

Hi Fernando,
I have systems in place, but like you point out many leads are a waste of time. I'd love info on your templates!

Thanks

Robin Hobbs, Realtor Front Gate Realty
rhobbs1029@gmail.com

Oct 22, 2016 04:39 AM #12
Rainer
482,389
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Great post. A lead is merely a suspect, someone who contacts you. After exchanging some information, the suspect is either a prospect immediately or sometime in the future, if not, he's not a prospect. Marketing to specific targets or as you're doing, multiple targets generates numerous opportunities within your targeted market area. 

Oct 23, 2016 06:02 PM #13
Rainer
5,485
Rodney Ladd
Keller Williams - El Paso, TX
Real estate agent serving El Paso Texas

Good morning Mr. Herboso. As a new agent I could definitely use a system such as yours. Any guidance would be appreciated.

 

Oct 24, 2016 12:56 AM #14
Rainmaker
227,033
Liane Thomas -Top Listing Agent
BROKER Allison James Estates & Homes BRE 01885684 - Corona, CA
Bringing you Home!

You have a good plan in place. Yes, I'd like to learn more.

Oct 24, 2016 06:35 AM #15
Rainmaker
3,841,237
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Fernando Herboso - Broker for Maxus Realty Group ,

Loved the name of your post! Great information and tips.Following leads that aren't really leads can be a waste of time!  Systems in place is the name of the game!

Nov 19, 2016 08:49 PM #16
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Fernando Herboso - Broker for Maxus Realty Group

301-246-0001 Serving Maryland, DC and Northern VA
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