If you have read the post entitled “Increase closings by 900% than you already know that Harvard business review did a 5 year study on online leads and the value of the follow up. In that study Harvard’s research indicated over a quarter of all online leads are not followed up with or called…ever! This is a travesty for the home buyer, the real estate agent and whoever paid for the lead to be generated. Someone paid for the lead and the chances are it was someone that expected to get more back than they put out. We refer to this as ROI but it is also called common sense.
Again in our minds this is because of one of two things:
- The real estate agent feels that lead is not valuable enough to follow up with
- The real estate agent is not aware of the presence of the lead
Reason A is simple to correct. By calling all leads, no matter what the chances of the great leads slipping through are greatly reduced and therefore all leads are more valuable. This self-fulfilling prophecy is a death knell to the real estate agent and should be avoided at all costs.
Reason B is simple to correct also by enlisting the help of the most rudimentary client management system (CRM). We all need reminders and this is the case with following up on leads. It seems sometimes the more leads we have the more we lose in the tracking. This is why a CRM is so important.
A dry erase board is better than nothing. Using a dry erase board in conjunction with a CRM is great. The dry erase board does not allow us to forget and when something is staring us right in the eyes we are more likely to pay attention to it.