Turn Lost Opportunities Into Realized Opportunities: the Need for a Detailed Communication Plan | The Zebra Blog

Turn Lost Opportunities Into Realized Opportunities: the Need for a Detailed Communication Plan

In the last two Zebra Reports I’ve been talking about the idea of Lost Opportunity and what it means to your business. Lost Opportunity business is business you can have, and it is income you should have. Don’t lose those opportunities simply because you didn’t have a plan to keep them in your pipeline. No more Lost Opportunities in 2011!

What’s the one essential thing that I think you must have?  A communication plan—as part of your overall business plan—that will solidify your relationship with your past, current and potential clients.

Recently, an agent I work with said, “Denise, I have a basic plan to stay in touch, but I never seem to follow it. What am I doing wrong?”  Once we looked at the reasons he wasn’t following it, the answer was right in front of him. He knew he needed a plan, and in the back of his mind he had an idea of what it looked like, but he didn’t’ have any details to guide him.

Most agents have the same problem. They may have a client communication plan in the back of their mind—they may even have it written into a yearly calendar. But if, on any given month, the notation simply says “call sphere”, it is easy to drop the ball. If you don’t know what to say, and if you don’t have details to guide you, your communication plan quickly falls to the bottom of your list. Nobody likes random calls. We don’t like making them; we know others don’t like receiving them. Random calls feel way too much like a ‘sales’ call. You won’t have to make random calls when you have a detailed plan.

Most of us are much better at following a plan. What if, in early January, your communication plan said ‘Call sphere to alert them about the predictions article.” Granted, you have to have your predictions article ready to mail out, but now you have a reason to make a quick call as well. The call sounds like this: “I just sent you my predictions article for the 2011 real estate market. If you have any questions, give me a call. Otherwise, I hope you find my article interesting and helpful.”

If you have to give last-minute thought to what to say, how to say it, or what your message is, the call will simply not be as successful as it might be when you have an actual plan for calling. When you have your plan and the details—even the script, it’s easy.

“Okay,” you say, “but it’s hard to figure out what to send, or what to call about.”

We created the visual chart, below, to make it easy for you to build a communication plan for your entire sphere, including additional communication options for your past andyour potential clients.

Sphere Database

Past Clients

Potential Clients
(buying or selling within the next year)

12  Monthly Real Estate Mailings

X

X

X

Annual Client Review and Client Appreciation Event

X

Weekly Communication

X

  • 12 Monthly Real Estate Mailings – here is an easy formula:
    • Six articles a year. These must be real estate specific.
    • Four quarterly real estate reports specific to your/their market.
    • One annual review
    • One predictions article
  • Weekly Communication for potential clients (less than a year from a transaction) should include market specific data:

Sample items for potential buyers:

  • Appreciation rates in different neighborhoods
  • Home comparison reports for different neighborhoods
  • Video tours of neighborhoods. This is especially important if they are not familiar with all the neighborhoods they might choose from.
  • Listing and sold data

All this information helps buyers begin to learn more about the market, learn where the best values are, and calm the sometimes overwhelming feeling new buyers have.

Sample items for potential sellers:

  • Regular listing, pending and sold reports
  • Days on Market reports
  • List-to-sales-price ratios
  • Inventory numbers

Not-yet-ready-to-sell clients have to get used to what comparable homes are selling for on the open market. This may not be the time in their life where their real estate will sell for what they want. You have to educate them. Be their expert and provide them with honest, accurate data on a very regular basis.

Send one of these at least once a month, and follow up with a phone call or email the other weeks. Yes, you may even count your monthly mailing to your sphere as communication for one of those weeks!:

Using this plan, and building in the details that you need to keep you on track, you will significantly strengthen your relationship with each person in your database and position yourself as their real estate expert.

Let’s recap. Regardless of whom you need to communicate with you must have a consistent, well thought-out weekly, monthly and annual plan that includes all the details you need to make your plan actually work for you. With a strong communication plan, business will come your way more easily!

Do you need more help creating a communication plan?

Join us for our 2011 Safari on January 12th and 13th at the Redmond Marriott Town Center. We’ll help you build your own customized 2011 business plan, including a communication plan that will keep you top-of-mind with everyone in your database and keep a steady flow of business in your pipeline.

I am truly excited about this upcoming Safari as I know everyone is going to walk away with the tools they need to make great strides in their business and systems in 2011. I hope you will join me!

By Denise Lones CSP, M.I.R.M., CDEI

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One Response to “Turn Lost Opportunities Into Realized Opportunities: the Need for a Detailed Communication Plan”

  1. Bethesda 365 says:

    As usual Denise, awesome content and so painfully accurate! ~ Amy Anderson, RE/MAX Realty Services, Bethesda, MD

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