Following Up Made Me $50k this month.

10 Replies

I have a pretty simple process for selling houses. 2 of the things I do is every Monday morning, I call/email/text every agent that has shown the property in the past week, and every one that has come through my open house that weekend. The 2nd is I go back and do the same with anyone who has expressed even the slightest interest from the previous weeks.  Seems pretty simple. Lots of agents do this...but you would be surprised how many do not. How do I know? Because a very tiny minority call me for follow up on the properties Ive shown.

Well this month with my very simple follow up method, I was able to shake out multiple buyers or agents who had buyers for some of my hard to sell listings. Sometimes the 4P's method of selling a house works, (Put a sign in the yard, Put a lockbox on the door, Put it in the MLS, and Pray for an offer) but many times you have to put the work into finding a buyer or finding an agent that has a buyer for your property.  

This really goes for anything in real estate with leads, whether its selling a listing, buying a property etc, Follow up is key.

Ryan Serhant in his book lays out his system as Follow Up, Follow Through, and Follow Back. (Back meaning reaching out to old leads).  

Hi Russell, what do you say to be able to generate interest in someone who wasn’t interested in the property otherwise?

Originally posted by @Vanessa Hernandez :

Hi Russell, what do you say to be able to generate interest in someone who wasn’t interested in the property otherwise?

 It's all sales right?  Youve got to talk to people, you have to know what they are looking for, why they are looking for it, what their price points are...what they really want versus what they think they want.  And you have to know what other products are available.  You need to know how to accentuate whats good about your product, and how to deflect or minimize whats negative about your product.

But it really is just about getting people to talk, listening to them, making them feel like you are hearing them, and addressing what they are saying.  People hear this aint quite the property for me and they let that lead go cold.  You ask them, well what isnt quite right here...oh, it doesnt have a parking spot...do you think you will drive often if you live in this walkable neighborhood.  etc.

@Russell Brazil Thanks for posting this!  These are the kinds of things that are going to be really useful once I get my license.  

Originally posted by @Russell Brazil :

I have a pretty simple process for selling houses. 2 of the things I do is every Monday morning, I call/email/text every agent that has shown the property in the past week, and every one that has come through my open house that weekend. The 2nd is I go back and do the same with anyone who has expressed even the slightest interest from the previous weeks.  Seems pretty simple. Lots of agents do this...but you would be surprised how many do not. How do I know? Because a very tiny minority call me for follow up on the properties Ive shown.

Well this month with my very simple follow up method, I was able to shake out multiple buyers or agents who had buyers for some of my hard to sell listings. Sometimes the 4P's method of selling a house works, (Put a sign in the yard, Put a lockbox on the door, Put it in the MLS, and Pray for an offer) but many times you have to put the work into finding a buyer or finding an agent that has a buyer for your property.  

This really goes for anything in real estate with leads, whether its selling a listing, buying a property etc, Follow up is key.

Ryan Serhant in his book lays out his system as Follow Up, Follow Through, and Follow Back. (Back meaning reaching out to old leads).  

I used to call the 4 Ps  list it and duck.. lol

my wife was a trainer for Floyd Wickman  you and her are cut from the same cloth.. by the time you get 10 plus years in the majority of your business comes from referrals.. not a month or week goes by that she does not get a call..  Hey you sold me our house 7 years ago we are ready to list and buy a new one..  everyone she meets she hands a card to..  our local full service car wash that she frequents she talks to the owner .. they want her to list their home  750k and are looking to move up 1.25 and want her to handle both.. circulate to percolate..   real estate sales is tough.. but there is a method to success and it does take some apprenticeship  but you can make it over the hump its a pretty rewarding job..  Next thing is to see how she takes control of the transactions in a very nice way but with a velvet hammer .. No way I could do what she does.. 

Russell in my days of selling real estate to the public ( 20 plus years ago) I was a one sit closer.

in other words if I could not close the deal first day.. I was on to next client the think about its went to the back burner 

key to success was constant new buyer flow.. which I believe was probably easier in my day than today.  WE got our leads like modern day wholesalers do today.. we directly marketed for them..

I work in education.  I'm very passionate about cultural transformation, social justice, great movies, etc.  Yesterday, I had a great chat with a realtor, 20 minutes after I found out that the prop he listed was in counters and was a transaction between two chain smokers.  He also told me the ballpark terms they were working with.  That part of the conversation took south of 90 seconds.  For the rest of the 15 minute call, I found out I went to school in his hometown.  His grandpa used to hold public office in my hometown.  He operates 2 or 3 hours away from me, but I found myself thinking, "I'd sure like to do a deal with that guy."  

A real estate question transitioned into a chat between friends when he asked me, as a teacher, about the school down the street and the culture of the neighborhood.  Looking back, he sucked me in by "being a nice guy", but really he appealed to my ego.  That sounds shallow, but people dedicate their lives to medicine, law, grocery, childcare, whatever: that's their passion and a clear path to their trust and personal regard.  

The really successful people, in any field, are those who can really invest in every opportunity to build a connection, regardless of outcome.  I know it's much easier said than done, but I sure appreciate it when it happens.  

Thanks for sharing your journey! 

Originally posted by @Jay Hinrichs :

Russell in my days of selling real estate to the public ( 20 plus years ago) I was a one sit closer.

in other words if I could not close the deal first day.. I was on to next client the think about its went to the back burner 

key to success was constant new buyer flow.. which I believe was probably easier in my day than today.  WE got our leads like modern day wholesalers do today.. we directly marketed for them..

 Im one of the  rare agents that does my level of volume with more buyers than sellers, and it always dumbfounds a lot of the other agents in my office.  They just dont get how I can do it with buyers and not work 200 hrs per week.  But for me thats the beauty of working with investors. (real investors).  Ive got clients who close deals without ever seeing the property.  Ive got 1 client, I know what he likes, hes too busy to go view the properties, he buys 2 a year, doesnt ever physically lay eyes on them...sometimes not even after closing. I place his tenant, he collects rent, never bothers to ever go see the place.  So Im working with a lot of people who arnt your typical buyers looking at 50 houses, then choosing 1, not getting it then looking at 50 more. They know what they want, and they buy it.  

Of course Ive got my typical retail clients too that are like that, but its a minority of my client base.

@Russell Brazil the key to that whole state is REAL investors... not the endless amount of tire kickers you undoubtedly encounter.

So the natural question to me is, how to sort through all the tire kickers?

@Caleb Heimsoth great question.  I have a little bit of screening criteria. First and most importantly, they have to be willing to meet me in person.  Youd be surprised how many people contact me, but then feel they are too busy to meet in person.  That probably weeds out 80% of people that would be time wasters right there.

Then there are some people, who know exactly what they want and have realistic expectations. "I want a 4 bedroom in X neighborhood that rents for $2500 a month.". Those people, they know what they want, so they are usually good to go.

First time flippers, I almost always pass on now, as 99% of them wont pull the trigger, and if they do, they usually wont take your advice and will go down in flames.

Then you have the legit people, who are scared and need the hand holding.  They dont know exactly what they want...and here, this is usually just a matter of making that decision, do I think they will buy at some point, or will they be too scared to pull the trigger.  This is usually a gut feeling (and Im not 100% accurate on this.) This usually comes down to whether they seem to have their life together.  Are they investing in stocks as well, are they saving money, are they taking other actions to improve their life financially.  Those usually get over the hump to buy.

@Russell Brazil Two thumbs up for meeting people in person early on, it saves so much time by weeding out the clients who "can't find" the time for an initial meeting - those are typically the people who will ask the most of our time without respecting it because they don't actually know what it is we do. In my experience, inviting prospective clients to a home buyer consultation very early in the process ensures that they know everything they need to know, makes them a better client if you decide to work together, weeds out people who don't want to invest the tiny amount of time or who aren't nice during the consultation or are not adequately prepared to buy a home, and it's so beneficial to the client that they're far more aware of the value the real estate agent brings to the process. A relatively small time investment on our part that can save mountains of lost time and frustration later on. 

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