Do you want more clients?

By
Mortgage and Lending with Nicholas Napoletano

 Do you want more clients? Could you use the extra money?

If yes, then let me share with you how you can at least double the number of clients you currently have without you having to do anything you don't already do.

There is a secret in the real estate business. Those who know this secret make ten times more than the average. They are the Top producers, the winners of all the awards, the ones with clients continuously calling them.

Let me share that secret with you. And once I do that, I will also show you how you can harness the power of secret. And then I will show you how you can have someone do all the work for you - for free!

Why do I do this?

I want you to succeed. I know what it was like to be the little guy. If I help you, chances are you will help me as well.

Let me share a story with you. I started a marketing campaign of mailing out postcards to past clients as well as anonymous people. We get lists of home owners and mail them a marketing piece. Normally about 1% of the people call me from the mailer. They tell me that in direct mail, that's pretty good since the average response is something like .5%. Anyway, one month I screwed up and mailed the letters again to the same list we had mailed to the month before instead of to the new list. Needless to say I was furious. I hate wasting money. But to my surprise, we got another 1% in calls!

I couldn't believe it. We got the same response by mailing to the same people again. I figured this was more than a fluke so we mailed the same letter again to the same list the next month. With 2% response! I nearly fell off my chair when I heard that. It wasn't until the 6th mailing that we didn't sell enough to cover our costs.

Why am I telling you this?

For several months we would only mail to the lists once and throw the names away. We were losing thousands in revenue and we never even knew it.

How much in commissions are you losing every month without knowing it?

What we did, is what you need to do, once you get a bona fied lead, you need to constantly, aggressively, annoyingly, repitiously, entertainingly, follow up with this lead until they buy from you or die.

But you don't. I know because no one does.

In direct sales, studies have shown that 82% of sales are made in the 2nd through the 8th contact with a prospect. If you are not following up, you are losing 82% of your potential sales.

99% of realtors do not do this right.

But following up has to be done the right way. Adding someone to your mailing list and sending them a generic newsletter every month will not get the job done. Sending them a postcard every season or calendar once a year does not get you a front seat in their conscious mind.

How many dozens of listing appointments have you been on where there is another realtor's magnet on the refrigerator?

Here's the secret: Listen closely.

Follow up is not good enough!

You have to have personalized follow up 

•-         Phone calls

•-         Personal letters

•-         A credit rebuilding program

•-         Constant education

Personalized follow up keeps you in touch with the prospect until they are ready to buy or sell. It keeps you in their conscious mind, not just on their fridge, underneath their kid's drawings. It allows you to put handcuffs on your prospects and the only way they get loose is by using your services. 

Good Selling!

NN

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Location:
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Groups:
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Agents who want REFERRALS!
Tags:
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Show All Comments
Rainer
5,365
Mark A Ferraiolo
Century21 Killian Real Estate - Bloomsburg, PA

Now there's some good sound advice.....and for free! Thanks Nick!

Jan 02, 2009 06:21 AM #1
Rainmaker
217,571
Richard Shuman
The Only B.S. I Have is from the University of Massachusetts - Lake Mary, FL
Real Estate Broker - Orlando Area - Love Referrals

So easy but most don't do it. And yes, I have been on dozens of listing appointments with other agents picture on their refrigerator.

Jan 02, 2009 06:21 AM #2
Rainmaker
153,991
Richard Goates
Apex California Realty - Redding, CA
Broker 01251781

Thanks for the informative post.Follow up is the key to success. I do believe that many if not the majority don't follow up more than once or twice.

 

Rick

Jan 02, 2009 06:30 AM #3
Rainer
115,642
Renee L. Norton
Birmingham, AL

You are right on target!  Thanks for the post.

Jan 02, 2009 06:43 AM #4
Rainer
35,968
Andrea Palmer
Jones & Co. Realty 239-333-5556 - Cape Coral, FL
Phone 239-333-5556

great tip thank you

Jan 02, 2009 06:52 AM #5
Rainmaker
54,156
Tom Larsen
The Larsen Protection Team - Williamsville, NY
We Shop, You Save!

Picking for the low lying fruit is what most do. Way to wake up some people who needed it, Nick!

Jan 02, 2009 07:05 AM #6
Rainmaker
1,068,266
June Piper-Brandon
Houwzer Inc - Baltimore, MD
Piecing Dreams One Home at a Time

Your farm area also needs to be large enough to generate enough business.  But, you need to be in touch with those people every 3 to 4 weeks for them to remember you.  Just listed, just sold, community update etc and give them a reason to check your website regularly, perhaps a community calendar.  Good luck!!

Jan 02, 2009 07:10 AM #7
Anonymous
Rita B

awesome advice!  so true!

Jan 02, 2009 08:22 AM #8
Rainmaker
302,074
Dan and Amy Schuman
Howard Hanna Real Estate Services - Solon, OH
Luxury Home Specialists

Thanks for the great FREE advice. You are so right about proper follow-up. By the way, I do find it somewhat humorous when we get a listing and they have another agents magnet on the refrigerator.

Jan 02, 2009 08:37 AM #9
Rainer
9,414
Nicholas Napoletano
Nicholas Napoletano - Red Bank, NJ

Thanks for all the positive feedback, I truly appreciate it. I would rather educate realtors on how to market themselves and generate business, because the coffe and donuts thing just isn't working anymore...lol. Instead of making you fat in your hips I'd rather make you fat in your pockets. I think there's a better chance of getting business this way. If you liked some of these ideas check out my other blogs on marketing for realtors.

Take Care

Nick

Jan 05, 2009 02:57 AM #10
Rainer
4,792
Scott Harrison
Sea Shore Realty - Virginia Beach, VA

Ncik,

    Great stuff.  It is amazing that you need to hit everyone so many times.  To get it done though you need to.  That is my mantra this year.  Hit everyone and keeping hitting them again and again.

Once again thanks for the great info.

 

Jan 07, 2009 01:56 PM #11
Rainer
25,748
Myrick Tantiado
Alain Pinel Realtors - San Francisco, CA

Thanks for sharing!  I do agree that following up is so key to winning new business!  Hope you have continued success in 2009!  Cheers.

Jan 07, 2009 03:32 PM #12
Rainer
9,414
Nicholas Napoletano
Nicholas Napoletano - Red Bank, NJ

I'm glad everyone has enjoyed this information and sees how beneficial it is in today's market. It does take some leg work, but it will pay off in the future.

I have people asking me all the time how I'm surviving in this market. My answer is I make long lasting relationship's with client's and other real estate professionals by educating them on every aspect of the market.

*Remember our first sale is trust, and by educating our clients and referral sources on what to look out for. How could they not trust us. Makes sense uh!

As my Italian Grandfather would say - Alla vostra salute! Here's to you!

NN

Jan 08, 2009 01:58 AM #13
Rainer
45,224
Joddie Roberts
Mountain Real Estate and Property Management - Spokane, WA
Your Spokane Realtor - Spokane, WA

We give up way too easily sometimes.  Thanks for the reminder because the truth is SOMEONE will get the business.

Jan 08, 2009 02:05 AM #14
Rainer
55,751
Kelsey Barklow
Hurd Realty - Johnson City, TN
423/948-9154

I would taking "annoyingly" off of the list.. Most people don't want to be annoyed by someone but you are correct, consistency and perseverance are the keys. Thanks for the reminder.

Jan 08, 2009 02:25 AM #15
Rainmaker
81,920
dgedtrger qwertertr
The People's Home Mortgage - Barkhamsted, CT

HI there Nick, nice to see that I'm not the only one looking to help Realtors in a Proactive way!  Joint lead generation and helping Realtors increase their listing inventory through effective marketing to hot demographics is the only way to build solid relationships.  The best way (and cheapest) to generate buyer leads is to have more listings.  Loan Officers need to understand that if they are going to get attention from top Realtors (elephant agents)

 

Chris Hallmark

newark nj homes for sale

Feb 02, 2009 03:13 AM #16
Rainer
9,414
Nicholas Napoletano
Nicholas Napoletano - Red Bank, NJ

I agree Chris I say it time and time again the only way to survive is by building relationships. Wether it be with realtors, CPA's, Financial Planners and even Attorney's. After you have established solid relationships with referral sources everything else comes easy.

Good Selling

NN

Feb 02, 2009 06:26 AM #17
Rainmaker
1,082,280
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Nicholas, would love to see some more posts - sounds like you have a great understanding of how to prosper. I agree, 99% of Realtors get this wrong.

Sharon

 

Sep 17, 2011 05:22 PM #18
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Rainer
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Nicholas Napoletano

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