THE FORTUNE IS IN THE FOLLOW UP
As promised in the last email on “How To Effectively Answer Buyer Inquiries”, here is how to stay in touch effectively after your conversation and/ or showing.
IMPORTANT NOTE: Buyers view and average of 12 homes before putting in an offer. So you must be patient with them, but at the same time have an effective way to stay in touch.
Here is an easy way to stay in touch with them:
Step 1: Make a list of all potential buyer inquiries. If you need a “Guest Registry” to do this, just reply back and ask me to send you one and I will do so (it is a document to track all of this and stay organized).
Step 2: I recommend calling, texting and emailing. Everyone responds and likes to communicate differently. And, just because we may prefer a way of communication does not mean that is what they prefer. For example, today 98% of text messages are opened and read but only 11% of emails. To ensure you do not miss out on a potential buyer, I recommend doing all of the above.
Step 3: Have the same follow up system for each and a way to track them. Systems are the key to doing this. I will give you some examples below.
Step 4: Follow up at a minimum of every other week. Inform them every time you are having an Open House (if you choose to do so, some resources coming soon on that too) or any changes like a price reduction.
Step 5: This is 100% up to you, as it is your house and of course you are in full control. But it is important to know that 89% of Buyers are working with “Realtors”, remember it is free for a buyer to work with a Realtor so the vast majority do. You may want to (I personally would recommend it), let them know that if they have a Realtor, you are willing to pay the Realtors Commissions. I know you are trying to avoid them, and hopefully you won’t have to pay them, but even if you did, you are still saving 50% of the fee’s compared to if you listed with a Realtor. But again, that is just something to think about and maybe consider.
Step 6: Go into your email and create a “Folder” for all inquiries and emails that come in on your home. Place all communications inside that folder so you always know where to go, they are in one place and organized.
Step 7: I recommend having or creating a Gmail account. It is 100% free and then you have access to some really cool free tools to help in the process. See the tools below and how they can help:
Tool 1: Boomerang. This is a free Gmail App you install in your email. When sending an email you can set the “Boomerang” on that email to come back to you, if the other person does not reply to your email, and it will provide a reminder (Example, you send an email and set the Boomerang for 48 hours. If they do not reply to your email within 48 hours it will come back to you and let you know they did not respond. It is a quick and free reminder system and has a free version).
Tool 2: Google Drive. Inside Google Drive are “Google Sheets” which are essentially online excel sheets. I recommend putting each potential buyer in there: Their Name, Their Number, Their Email and then you can track what communication you sent on what date.
Step 8: How To Follow Up Properly & How Often. Remember the goal is to get communication to happen. All phone calls and text messages exist until you can get them communicating and find out what their interest level is. Here is a good sample process to follow:
-1 day after the showing: Step 1 “Follow Up Call 1”.... This is just a friendly check in…. If they answer:
“Hi (their name), this is (your name) the homeowner at (your address), I just wanted to follow up to see if you had any more questions for me at this time or to see if you would like to set up another time to view the home?” See what they say, and make notes on their response… If they say “Not Interested”... still ask for their permission to stay in touch “I 100% understand and appreciate your time. Would you mind if I emailed you some updates on the home just in case you have any Friends, Family Members or Coworkers who may be interested?” A lot of people will say yes, just to get you off the phone….
-If No Answer: “This is (your name), give me a call on my cell when you have a second, thanks”.... With voicemails you want to create curiosity so they call back…
-3 days after the showing Text Message (Only send if you have not heard back from them): “Hi this is (your name), the owner of (your address), I just wanted to follow up first to say thank you for stopping by to view my home and second to see if you have any questions for me at this time?”
-5 days after the showing call #2: “Hi (their name), this is (your name) the homeowner at (your address), I just wanted to follow up to see if you had any more questions for me at this time or to see if you would like to set up another time to view the home?” See what they say, and make notes on their response… If they say “Not Interested”... still ask for their permission to stay in touch “I 100% understand and appreciate your time. Would you mind if I emailed you some updates on the home just in case you have any Friends, Family Members or Coworkers who may be interested?” A lot of people will say yes, just to get you off the phone….
-If No Answer: “This is (your name), give me a call on my cell when you have a second, thanks”.... With voicemails you want to create curiosity so they call back…
-8 days after the showing Text Message # 2 (again only if no communication has happened): “Hi this is (your name), the owner of (your address), I have left a few messages. I wanted to make sure you got them and see if you had any questions and/or if you still have any interest? If you need anything please reach out anytime!”
-10 days after the showing I would send email #1 and then email at a minimum every 2 weeks. If you have a lot of emails you can put your email address in the “To Field” and then add all their addresses together in the “BCC Field”. They won’t be able to see each others emails and this can save a ton of time, if you go this route do not make the email personalized. For example “I wanted to send a quick update to let you know we will be doing an Open House this weekend on Saturday…..”
*The most important part is to just stay in touch. Some people may ask to be removed, some may even get a little angry, but most will be OK with it. It is critical to remember that it can take some time for home buyers to decide which is the best route for them to go. You want to make sure you are staying in touch and staying front of mind.
I hope you have found this information helpful and please feel free to reach out anytime if you need anything!
Sincerely,
Your Realtor Denis Hrstic