The Best Strategies for Real Estate Lead Follow-Up

Ok, let’s talk about strategy. It’s a new year and that means you’ll be hearing a lot about the next best things in real estate and new ways to change your industry game. But let’s be honest, half of that information is a scam and we want to keep it clean and simple. That’s why we’re going to walk you through and explain the best tried and true strategies for lead follow-up because as they say “if it ain’t broke, don’t fix it.” 

Now, let’s get into it!

To start, we want to give a little bit of background information. The hard truth is that in the real estate game, 50% of leads are qualified but not ready to buy. What does this mean? This means that agents really have to put in the work to nurture their leads in order to make a sale (and remember - just because they aren’t ready to buy right away, doesn’t mean they’re not worth pursuing). It is consistently proven that 50% of sales happen after the 5th contact by the real estate agent. 

So how do we do this? Lead follow-up! 

Don’t leave follow-up to chance. Create a follow-up schedule in advance that outlines when calls and messages should be happening. Follow-up schedules vary - but we recommend one that goes up to 3 months after initial contact with the lead.

To start, once a lead comes in, contact them right away (within 5-15 minutes) whether via phone call, text message or email. To save time, in your CRM, you can set up an automatic message to be sent via the format of your choosing. We personally recommend a text message - they have a 90% guarantee open rate. 

Don’t have a CRM? No worries - check out this easy system. 

If the lead doesn't respond - don’t give up hope! Schedule a message for the following day asking if the lead has seen your message and is still interested. If the lead doesn’t answer, then schedule a message for the following week. You can automate this process in a message playbook. This process may seem tedious, but lead follow-up is important in showing your commitment and credibility to any potential client. 

Pro Tip: End every text with a question so the lead replies and stays engaged!

Short for ideas? Try out these text templates. 

If the lead does not respond or show interest - set up a reminder to check in with them in a month. Clients appreciate dedication and seeing that you care about their needs. Remember to continue to stay friendly and set a good rapport. 

Once you have a better understanding of the lead’s communication, organize your leads in active versus passive.

• Active leads are responsive and ready to buy in the near future
• Passive leads are still qualified but are on a longer term buying time frame

Regardless of status, continue to stay in touch with your leads. Send out market reports with new listings (email newsletters are great for this!) or share fun facts about your market zip code. This information will help clients see your value and make you stand out from other agents. We promise that it’s all worth it in the end!

Moral of the story: putting in hard work pays off and it’s not as hard as you think! Don’t miss out on great opportunities by not committing to a solid lead follow-up strategy. Here’s to better sales and smarter business strategies in 2022 - you’ve got this!

If you’re interested in learning how to automate your lead follow-up check out all of our lead generation and marketing plans or set up a call with one of our marketing experts to learn more. See what PropertySimple can do for you!