0:00Most inbound real estate leads never get a second call. In fact, I would tell you most of them don't get a first call. But the ones that do get a first call, almost none of them get a second call. And why is that? A lot of times we blame the lead for not being good, get busy, we forget. More often than not, the reason they're not getting a second call is because we don't have a system in place to make sure that we are following up with good leads and bad leads alike. So today I want to talk about how to create a great lead follow-up system that's going to help you convert more business. Hey, my name is Chance Brown. I'm the broker owner of CB&A Realtors and I make video content like this because I'm passionate about helping real estate agents build great businesses. So before we get into actually building a system, let's talk about why we aren't very good at this.
0:49And it's not intentional. Agents aren't lazy. In fact, most of the real estate agents I know work very very hard and would love to convert more leads into business. There are generally speaking three things that we fail at when it comes to lead followup. The first one is we don't have a structure for it. We just maybe follow up one time and then there's no system in place and we're going to work on that today. The second one is that there's no purpose. every follow-up just kind of sounds the same, like, "Hey, just checking in." And we don't have a reason for calling. That moves the needle to conversion. And the last one is there's no persistence. And here's what we know. Most sales are made on the fifth to 12th contact. And most agents have maybe one follow-up in them.
1:36And so, we're going to talk about building a great system that has all three of those, structure, purpose, and persistent built into it. Speed of response is the single most important variable to converting leads. I've talked about this in other videos before, but speed to lead is the key. There's science, data, studies telling us that that first five minutes matters the most. And I would argue in a lot of cases, depending on where the lead source is coming from, that first one minute really matters. And so, you can't wait an hour to get back to somebody. You can't wait till you get back home, whatever that is. You need to be in the first 5 minutes in some sort of communication with that inbound lead. Whether you've got an automated system in your CRM or something like that that does that or you're doing it manually, whether it's a phone call or if you're with somebody, listen, hey, I'm with a client right now. I'm looking forward to talking to you about what you're needing. Give me about an hour and I'll give you a call. Shows that you're real.
2:34Shows that you're responsive and that you care. But speed to lead is the key metric in making sure that we convert. So, here's the sequence that I would recommend for every single inbound lead. We already talked about what's going to happen on day one. We're responding in that first five minutes with a phone call. If we can't get in on the phone, we're responding with a text that isn't generic and has a specific hook, a reason for them to return your call. On the second day, let's try a different avenue. Let's try email. Maybe we send them something that's very market specific or a particular listing, something that's designed to elicit a response. On day four, we're back to the phone. We're calling. Hopefully, we're getting in touch with them, but if not, we're leaving a message and that message is specific. Hey, I know you were looking in this area and I just wanted to let you know that since you sent me that lead, three homes have gone on the market, so things are moving and I'd love to make sure that you don't miss out. Give me a call. That kind of thing, right? Day seven, personal text. No try to pitch, no anything else. Just, hey, I don't want to feel like I let you down.
3:38I dropped the ball. How can I help you? Day 14, I want you to send something of value. No expectation of return, but maybe a neighborhood report if you know that they're interested in a certain area, maybe a CMA of of a community, something like that that just is an easy item of value for you to send out real quick and hopefully they'll respond because they see what you're doing for them. After that, we're putting them into a monthly campaign flow. I think one of the things that's really important to note here is yes, we want to have speed to lead. Yes, we want to have this consistent activity right up front. But there is a misconception in our industry that just because somebody clicked on a button on a website and generated this lead means that they want to buy right now. And the truth of the matter is, if you look at various different studies that have been done over this, on average, it's about a year. It's about a year from when they initially click to when they actually buy. So, putting them in a long-term follow-up campaign is pivotal because you don't know when 10, 12, 15 months down the road they're going to respond to an email and be ready to go. The content of your follow-up matters. A lot of times we see agents just, hey, I'm just reaching out, just touching base to see if you're still interested, things like that. And that is not the approach we want to take. Every single message you send should answer the question, why am I reaching out? Not just, hey, I'm reaching out, but why? Why are you reaching out to them? Give them a specific purpose for your follow-up that matters and then deliver on it. If you're talking about like a neighborhood report or comps or listing reports or anything like that, follow up on it in that same message. Be aware of who your audience is. If it's a younger person, maybe they're more adept to respond to text than a phone call or email. Whereas older people oftentimes are better with email or voicetovoice call. And so pay attention to that and deliver content the way the recipient wants to receive it. Finally, what I really want you to do is end each one of these with a question. We're setting it up so it makes it easy for them to respond. So if we end each message with a question, that's an easy response. Hopefully, it's engaging enough that we're starting that conversation. Lastly, vary your approach. If the first couple were about a specific property because that's how the lead came in, maybe your third is about the community or the area or some piece of news going on with the schools there or something like that. Vary the approach, mix it up a little bit, and see if that doesn't change the response rate. Okay, so I already talked about the length it takes for people to go from lead to transaction. So, what does our system look like for that? Yes, monthly touch points. And those should be again relevant. They should make sense for what you're sending out to people. But maybe every 6 to 8 weeks, a personal text or a quick call or something else like that just to give you that additional opportunity to connect. I think that's where a lot of agents who even do have good systems for long-term follow-up miss the boat is you never know when they're going to pick up the phone. You never know when they're going to respond to that text. And it doesn't take much to add that into your system and execute on it. And the return on that small investment can be huge.
6:58Long-term follow-up plan that's not just putting them in an email campaign in your CRM. It's valuable monthly touch points along with every two or 3 months a direct reach out. So just remember this, most of your competition is going to give up after probably one, maybe two attempts at following up with a lead. You can have a system that follows up consistently and long-term and converts. Speed to lead. Have a purpose behind every contact and make sure you have persistence until they're ready to work with you. That's the key to success. Hey, if this was valuable to you, I would be honored if you would subscribe, follow, like, share with one of your friends. And if I can ever be of service to you, please don't hesitate to reach