5 Tips to Systematizing Real Estate follow-up process and close more deals

5 Tips to Systematizing Real Estate follow-up process and close more deals

Dubai Broker’s step-by-step guide

The follow-up process is a crucial part of a deal cycle. If you are not following up, you are not doing the main part of the job but waiting to get lucky. Without a good follow-up, you can’t expect to establish a connection, find out clients’ needs or decision status, etc., consequently close much fewer deals than you could have. Most Brokers give up too soon or don’t follow-up at all and miss out on the opportunities that were possibly just a phone call away. Let’s look into more details to learn why the majority fails to follow-up or to be consistent and how you can avoid those mistakes, be persistent and close more deals.

Here are 5 major reasons why the majority don’t follow up

1) Fear of rejection

The number one reason why Brokers dont follow up is that they fear rejection. Our brains are programmed to protect us from unpleasant situations. Naturally, we come up with excuses and false assumptions, not to make that follow-up call.

2) Fear of appearing pushy

Very few people actually cross that line, and those who are worried about appearing pushy rarely are. However, Negative sales stereotypes exist, and it affects the majority’s mindset.

3) They were never taught

This is one of the biggest challenges Real Estate Brokers face. They learn the job through experiences and mistakes because very few companies actually provide formal sales training. As a result, brokers don’t recognize nor realize the importance of follow-up.

4) They don’t have a system

Another common reason is that the Brokers don’t have a system in place. They don’t use their CRM to track leads, and they don’t keep conversation history. And if you didn’t save them on your mobile either and dont have any history in your messages, leads are lost.

5) They are overwhelmed with workload

It often happens that Brokers receive more leads than they can handle. They get too busy and simply don’t have enough time to accept new calls or call back, or follow-up with those they already interacted with.

Here are 5 tips for systematizing your follow-up process to close more deals

As a Real Estate Broker, you will have a lot on your plate. If you don’t have the right mindset and organize/systematize your workflow, it can get pretty messy. Here are some ideas to get you started and set things right from the beginning of your journey.

1) Use a CRM to track your leads

Very few brokers actually use a CRM for lead and workflow management, but you should. This is how you can keep track of your qualified leads and grow your own database as a Broker. Usually, leads are already auto imported onto the CRMs, and if not, you might have to add manually because if they are not saved, they don’t exist. If they dont exist, you are not really growing as a broker.

Once you speak to them and understand that you are dealing with a potential client, add your notes, and set reminders to follow up, set meetings, viewings, etc. Offloading the information onto a system instead of trying to memorize will help you be more productive. But what if you don’t have access to a CRM? Don’t let that stop you from systematizing your business. There are so many applications available on today’s mobile devices. In the worst-case scenario, you can always use Google Sheets. Google Sheets will allow you to save your leads and create to-do lists with reminders and so much more with free add-ons.

2) Dedicate time and day

If you don’t dedicate time, it will always be “I have to follow-up,” then forgotten until it’s too late. Choose a time in a day for your active and ongoing prospect follow-ups and dedicate one day in a week for all your long-term follow-ups with buyers, owners, and business relations. The same day can also be dedicated to foundation work such as marketing and listing generation admin works. That way, you will have more focus and a higher chance of building strong relationships with your leads/clients and owners.

3) Be prepared and have a purpose

When you call back a lead who inquired about a property you have, be prepared to answer questions. If you call a prospect you have interacted with, go through your notes and remember the conversation you had with them so you can refer or recall when they refer. When following up, have a purpose, don’t waste your time and the prospects’ time just to tick a box that you did a follow-up, do it with a goal to help and achieve. Offer value and propose good solutions, options, etc.

4) Be ready to face the sales fears

Expect rejection. Real Estate is a numbers game. You will receive many NOs to get to a YES. Rejection is a natural and inevitable part of the game, and you will have to face it regularly, so don’t let the fear of rejection stop you from achieving your goals. Face it.

  • Fear is far worst in your mind than in reality. Choose to experience fear and rejection in action than repeatedly in your mind.
  • Look forward to handling rejection because every experience is an opportunity to practice your skills and experiment with different approaches to overcome objections.
  • There is nothing more rewarding than winning a deal from a client who rejected you in the first place.
  • Don’t make assumptions. If they didn’t answer your call or didn’t call back, it does not mean they don’t want to talk to you (unless they say so). It could mean they are busy. Remember how often you didn’t pick up a call because you were busy and forgot to call back even though the person who called you is important to you. Clients are no different. When a client says NO, most of the time, they are saying NO to your offer, solution, option, etc. Communicate and understand the reasons behind a rejection in order to help and win.

Don’t worry about appearing pushy. Pushy rarely applies to Real Estate, but worry about appearing uncaring. In Real Estate, leads approach the broker, not the opposite.

  • They call you because they need your help to find the right property. If your goal is to help genuinely, you will do no wrong.
  • You are pushy and will appear pushy if your goal is to sell what you have but not the client’s needs. So, establish their needs, and if you believe what you have meets their requirement, help them see that.

5) Know your follow-up types

The work process involves different follow-up stages and types. Understanding them and their purpose will help you prioritize by importance and be more productive.

  1. Follow-up to list. Your follow-up journey will probably start with Owners. It often happens that owners say Yes to listing with you but take some time to send you the details and finalize. You have to follow-up with those owners to make sure they provide complete information, so you can start receiving leads.
  1. Follow-up with leads. Don’t miss a call, if you did, call back soonest. You are in a highly competitive market. At this stage, your aim is to qualify, identify their needs, establish connections, and set up viewing appointments.
  1. Follow-up after viewing. Hopefully, viewing is successful, and you have to follow-up for an offer cheque and agreement signing, etc. If not, they probably asked to think about it or still need to see more options. Don’t give up, follow-up. If they are serious, they will buy. It’s a matter of time.
  1. Follow-up after a deal. If you are serious about building a strong database, now is the time to work on it. Follow-up after the deal, find out how they are doing and if everything is ok. If they purchased it as an investment, you have a chance to rent it for them. If they are moving in, keep in touch with useful information and birthday wishes, etc. Aim to be on top of mind for when they need a Broker in the future.
  1. Follow-up for referrals. Whether you closed a deal or not, always ask for referrals from people you met. They might know someone else looking for a property or to sell a property. Establish a connection and aim to become their go-to broker.

How many times should you follow up before moving on?

If you focus on client needs and have a purpose when following up, the number of follow-ups will sort out itself. It should depend on the case, the situation, and the interactions you have had. You are the only one who can decide the number of times and the frequency to call a client.

We are here to help you with every step of the process, so continue reading. You will find some answers in other New Brokers Training lessons. If you can’t find the answer you are looking for, Ask HERE.