Real estate is an industry that has seen many ups and downs over the years. It has also seen monumental changes in the day-to-day operations and processes due to technology and the creation of online real estate search sites.
Over the past two and half decades I have watched the industry go through monumental changes. I have seen many agents come and go and I have seen patterns that have led to agents becoming very successful and patterns that have caused otherwise good agents to get out of the business.
The core of any real estate agents’ business are relationships; relationships with past clients, current clients in the middle of a transaction, and potential clients who need to be cultivated to turn into current clients. When I see an agent struggling it is usually because they have ignored the people part of their business – the most important part. Real estate is a business of making connections, nurturing those connections and giving those connections what they need when they need it.
One industry challenge that I see right now is that agents are trying to create drip campaigns and automated email or text follow-up campaigns for cultivating that future business. However, the challenge is that no two buyers or sellers are alike, and each requires customized communication – not a automatic drip campaign.
When working with potential clients it is essential that you keep track of how you communicate with them and the result. For example, if you keep emailing someone and they never respond, chances are that is not their preferred method of communication. If you keep leaving phone messages and you never get a return call, then perhaps a text or email would be better. It is important to learn your clients and know their preferred method of communication if you are not getting a result right away.
Every buyer and seller will be in a different phase of the real estate buying and selling journey at different times. That is something that a drip campaign really can’t address. It is your job to meet them on that journey, wherever they are, and provide them with what they need at the different moments along the way.
For example a buyer may need a neighborhood price appreciation analysis while a seller might want to see what sales have occurred in their neighborhood over the past few months. It is your job to be creative and to come up with CUSTOM COMMUNICATION for each of them.
Think about it this way – when you simply connect, you might be tossing pebbles at a window, hoping to get their attention. However, when you POWER CONNECT, it is like doing that with a boulder. When you take the time to impress and get them great information, you WILL get their attention.
Here is my list of the top five conversion techniques that are effective with today’s busy buyer and sellers.
1. Learn What They Want
Have clear and open discussions with each client about how they like to be communicated with and what things they find helpful.
2. Give Then What They Need
Do this even when they don’t ask. A buyer or seller may not even realize that a five year snapshot of the market in their area could be a great tool for them to see how time has affected their area.
3. Be Consistent
Nothing is more powerful than consistent connection with your buyers and sellers. When you are consistent you are telling the buyers and sellers that they matter to you and you care about getting them powerful information that will help them be successful.
4. Mix It Up
Mix up your communication with phone calls, text messages, emails, and mail. And make sure that you mix up the kind of communication you send. You could send reports or postcards or letters or even an analysis that is bound in a nice binder. Always provide information in the manner they prefer, but mix it up based on the best way to deliver the information.
5. Never Give Up
Buyers and sellers all have different timelines for moving forward. Don’t assume they don’t want to continue to get good information from you or that you are bothering them. They might be busy or it may not be a priority for them at that moment. But for most people, there will be that moment when they run into the kitchen counter one too many times or their garage door won’t open and they have had it with their house. You need to be there when that moment occurs.
So don’t just connect – POWER CONNECT! It will change your pipeline. Power Connect with your potential clients this week and see the difference!