Contents Getting the Most from This Book...2 The Five Guiding Principles of Follow Up...3 Get Into the Practice of Lead Follow Up...4 Prepare Yourself to Make Calls...5 The Foundation of Your Follow Up System...5 Call Flow Job Aid...6 Reconnect and Build Rapport...7 Probe...10 Reflect...11 Close...12 Set the Stage for Next Contact...16 Leaving Messages...17 Weichert Tools and Resources...18 Think of every lead as an Appointment with success. 1
Getting the Most from This Book Lead follow up is a vital part of your success today and in the months and years to come. Are you aware that after following up with a lead at least four times you have a 78% chance of getting this prospect to meet with you? It s true! Use this book to increase your chances of getting that date by following these suggestions: Before making the call: Refer to your Prospect Follow Up Sheet or Contact Management System for notes that you took during the last call. Use these notes to help you reconnect with your prospect during this next call. Review the section on Reconnecting and Building Rapport for ideas. Study the sections of this book for sample dialogue on Probing, Reflecting, Closing, and Setting the Stage for the Next Contact. Plan your conversation flow before you dial the prospect s phone number. You can mix and match dialogues from each category for different calls you make. Practice the dialogue so you get comfortable responding to any question or concern that arises. Review the section on Leaving Messages for sample voicemails you could leave if a prospect is not at home. Making the call: Flip to pages 6-7 of this book. Have the call flowchart in front of you as you talk to your prospect. The flowchart will serve as a good visual reminder of the steps you need to take during your follow up calls. Remember to take notes! Immediately after the call: Review the notes taken during the call, and include any additional notes about the prospect. Make sure you capture all these notes on your Prospect Follow Up Sheets or Contact Management System, so they can be easily retrieved when you prepare to make the next follow up call to the prospect. Do what you say you will. If you promised to email your leads MLS listings or send additional information, do it. Schedule your next call immediately. If you plan to reach out to a lead again in two weeks, mark it on your calendar. Remember, successful lead conversion comes from having strong discipline in following up, using appropriate dialogue, and ensuring that your follow up calls contain the necessary ingredients for success! 2 It s a Date!
The Five Guiding Principles of Follow Up 1. Reach out on a regular basis Consistently contact your leads and focus on building your relationship. The more a lead hears your name, the more likely they will remember it. If you remain in contact with a lead, they will be more inclined to work with you because you made an effort to stay in touch. 2. Make yourself memorable Make yourself stand out among other associates. Give your leads a unique item, tell them something interesting about yourself (such as hobbies or interests outside of real estate), or wear something distinctive so it s easy for potential buyers and sellers to remember you. Provide them with a higher level of service than your competition so you stand out from the rest. 3. Make it personal by being a student of your prospects Knowing details about your prospects lives helps you to have a more natural flow to your conversations. People feel more comfortable with someone who can talk to them about leisure activities and common interests. Also, your leads will be very impressed and flattered that you took the time to learn something about them. 4. Give something of value The purpose of each contact with a prospect should be to offer them something to help them with their real estate needs and ultimately lead to them working with you. Offer to provide them with new listings that meet their needs, a meeting with your Gold Services Manager, the Weichert Brochure or one of the other Weichert Tools at each contact. Get to know the inventory and stay current on the local market statistics such as average days on market, absorption rate, and median sale price in your area so you are ready to talk about these helpful facts with your prospects. 5. Write it down Use a system to schedule and organize your activities Don t let disorganization keep you from following up with your leads. Put a system in place to organize notes on your leads and prompt you to call them in a timely manner. Whether your system is online or paper-based, the discipline of recording what action to take and when with each lead will keep the relationship alive. When your lead is ready to make a move, it s you they will turn to since you were the professional who kept in constant contact, focusing on their needs. Think of every lead as an Appointment with success. 3
Get Into the Practice of Lead Follow Up The more committed you are to following up with your leads, the better chance you have at converting them into clients and customers. Don t fall into the trap of being too busy for follow up or not disciplined enough to follow up on a consistent basis. Here are some tips from top producers to help you stay focused: Time Management Make following up with leads a part of your routine commit time everyday to following up with leads. If you get busy, don t let follow up suffer. Find time in your day to follow up, even if it s not the same time everyday. Take advantage of the time you have when you are not out with clients and customers to work your leads. Consider lead follow up your job when you re not actively performing duties for your buyers and sellers. Discipline and Organization Be disciplined in your approach to follow up. Buy into the notion that consistent follow up is a proven method leading to success. If you have a system in place to follow up, stick with it and do not stray from that system. Keep the information you have on leads in one place. Many times people misplace or confuse information if they do not have one centralized location to keep all of their lead information. Documentation Develop a system of capturing critical information and use it for every lead. Whether you adopt a paper-based or online/computerized system to track your information, use what you feel most comfortable with. Keep notes on your leads. They ll be impressed that you remember the details of your conversations and that you re focused on their unique needs. Setting Your Expectations Expect rejection and get used to hearing the word No. The majority of your follow up calls could result in the lead rejecting your help (at least at this point in time). Many times the word No really means I need more information or I m not ready yet. Stay in contact with your prospects so that when they are ready to move forward, they ll think of you. Understand your prospects expectations. Today s buyers and sellers expect you to be accessible and ready to help when they re ready to move forward. They want you to be available to answer questions and provide them with information. If you are not available, they will look elsewhere to get what they want. 4 It s a Date!
Prepare Yourself to Make Calls There is no better way to prepare yourself to call your leads than to become the knowledgeable neighborhood expert. Providing your leads with reliable information establishes trust and builds the foundation for a good relationship. Know the essential market statistics of your local area, including average days on market, absorption rate, and median sales price. Get to know the market, the inventory, and the communities you serve using these resources: Weekly office sales meetings and caravans (preview all office listings) Weichert Market Update Your Weichert Manager and colleagues Weichert.com web site and Weichert News emails Local MLS for new listings, price adjustments, hot sheets, etc. NAR s Realtor.com and Realtor.org web sites State association of Realtors Local newspapers and magazines Economic development authorities Area visitor s centers (for information on events and recreational activities) The Foundation of Your Follow Up System Calling your leads a minimum of four times should be your standard approach to follow up. But simply calling them isn t enough. With each call, your goals are to Secure a face-to-face meeting for a Buyer Consultation or Listing Appointment Get closer to your leads to get the Mental Exclusive (ensuring when your leads are ready to take action, they will want to work with you) When you sit down to make calls, keep the job aid on the next two pages in front of you. It will guide you through your conversation and show examples of how you can Build Rapport and Reconnect, Probe, Close, and Set the Stage for the Next Contact. Think of every lead as an Appointment with success. 5
Call Flow Job Aid 1 2 Reconnect and Build Rapport Probe Reintroduce yourself and use what you learned about your leads personal interests to get the conversation going. Hello, Sally, this is Joe Smith with Weichert Realtors. Remember we met (at the open house on Street yesterday/ a while back at ) How did your daughter s soccer game go? Last time we talked you were planning a trip to. Did you have a good time? Top 10 Rapport Builders Family Hobbies Kids activities Community news Pets and events Friends Work Cars School Sports and Leisure Ask questions to learn more about your leads: What changed since the last time you talked? How has their timing and motivation changed? How is your home search going? What did your family think about the homes? Are you still planning to move before Billy starts school? How did it go with my Gold Services Manager? What did you think about the Weichert Brochure I mailed you? Have you been to any open houses since we last talked? Remember to Listen, Reflect, Probe and Close on every call, especially when you encounter objections. 6 It s a Date!
3 Close for Buyer Consultation or Listing Appointment 4 Set the Stage for Next Contact Secure a face-to-face meeting so you can talk more about their needs and address their concerns. Set their expectations that you will be contacting them in the future and when they will hear from you again. Sounds like you re feeling nervous about the market. I d like to take some time to sit down and talk about your questions and concerns. Would that be helpful to you? (If the lead agrees to meet) Great I ll see you at 7 o clock at my office on Wednesday. I m looking forward to it. When can we get together? I m available tomorrow night at 7 or Wednesday at 4 o clock. Which works better for you? I know I can save you some valuable time by meeting with you to talk more about your home search. Afterwards I can show you homes that fit your criteria and provide you with more information about the listings than you can get by just browsing online. Does Tuesday at 6 o clock work for you? The market has changed quite a bit since you last bought a house, and I have data about the local market that can help you get ready to sell and find your new home. Let s get together and talk does Saturday at 10 work for you? (If the lead does not agree to meet) Sounds like you might not be ready to meet, but let me send you (Market Info, Real Estate Article, etc.) to give you information about what s going on in the market/process of buying/selling a home. It will help you understand what to expect when you are ready to take action. It was a pleasure talking with you. (If the lead does not agree to meet) Okay, I ll keep your search criteria in my notes so whenever properties come on the market that might work for you, I ll email you and follow up to see if anything strikes you. Thanks for talking with me today. Your Goals: Get an Appointment Get Closer to your Prospects so you get the Mental Exclusive Think of every lead as an Appointment with success. 7
Reconnect and Build Rapport Reconnecting and building rapport enables you to strengthen your relationship with your leads. When you are making a follow up call to a potential buyer or seller, build on the last conversation you had. The best way to do this is by engaging in non-real estate conversation. Be genuine. Don t pretend that you re familiar with something when you re not. Instead, find a topic you have in common and discuss it. Sometimes people will be reluctant to share personal stories or experiences with a person they do not know as well. In these instances, talk about yourself. It will give your leads an opportunity to get to know you a little better and to feel more comfortable with you. Top 10 Rapport Builders Family Kids activities Pets Friends Cars Hobbies Community news and events Work School Sports and Leisure Rapport Building Samples: I see your daughter was wearing a Central High School varsity jacket. I actually have a niece who is a sophomore there. What attracted you to the area? So you said you are a teacher? What do you enjoy most about your job? I noticed you have a Bermuda sticker on your car. When did you go? Did you have a nice trip? I see you are driving the new Dodge truck. I might be in the market for a new car. Would you recommend it? There are lots of outdoor activities in the area you mentioned hiking. Have you been to White Pine Trail? Did you catch the game Sunday night? 8 It s a Date!
Reconnect and Build Rapport Talk about topics you remember about them from your last interaction. Remember to refer to your Prospect Follow Up Sheets to view notes from your last interaction. Identify their interests, and try to relate to them in some way. Be sure to highlight what you have in common with these prospects. Your Notes on your Prospects (from your follow up system) Jean and John Smith Not ready for six more months. Waiting for John s graduation. Anne Randall 3 girls all grade school. Sue, Abigail and Rachel. Eldest into gymnastics Rachel. Saturday sent 3 properties matching criteria. Dan and Marie Brown Teacher 9th grade at Hoover High School Girls Soccer Coach Set up with auto-email Maria Stewart First-time buyer, renting in Smallville Loves to bake cookies and pies, peach pie is her specialty Your Dialogue Hi, Jean. This is from Weichert Realtors. We spoke last month about your interest in homes in. I know you won t be ready to make a move until John s graduation, but I m calling to let you know about two houses that just sold in your neighborhood. Would you be interested to know about the sale price just to get an idea of house values in the area? Anne? Hi! It s from Weichert Realtors. How are you? I was just driving by the gymnastics place we spoke about last time I called and thought of you. How s Rachel coming along?... You must be so proud.... I sent you a few properties I thought might be of interest. Did you get them? Hello, Dan. This is from Weichert Realtors. How are you? I was driving past a home on Oak Street the other day and thought of you it s close to your school, and it has a park across the street with a great soccer field. It would be very convenient for you to have practice so close by I emailed you information on the listing. Did you get it? Hi Maria, This is from Weichert Realtors. How is everything since we last talked? I remember you said how you ve been entering amateur baking contests with your peach pies. I was driving through Waterview today and I noticed they put out signs for the Annual Fair. They always have a big baking contest, and I thought I would let you know about it in case you re interested Think of every lead as an Appointment with success. 9
Probe Probing is asking effective questions for the purposes of learning more about your lead s timing and motivation for moving. Specifically, you want to find out what has changed in their lives since the last time you talked and how (if at all) their timing and motivation has been affected. Start with open-ended questions that usually begin with the words, How, Why, Describe, Tell me about. They allow your leads to elaborate on what is going on for them and give you insight into their home search. Then follow up with more targeted questions related to the lead s wants and needs in a home. Here are some sample probing questions: How is your home search going? Why are you moving? What did your family think about the homes? Are you still planning to move before Billy starts school? How did it go with my Gold Services Manager? What did you think about the Weichert Brochure I mailed you? What do you know about the Anytown area? Will you need to sell your present home in order to purchase a new one? How soon are you looking to move? How long have you been looking for a home? Describe for me the ideal picture of what you re looking for in a home. Where do you live now? What do you particularly like about your present home? How many will be living in the house? What don t you like about your present home? What price range do you feel is right for you? Tell me more about what you liked about the home on 202 Grant Ave. 10 It s a Date!
Reflect Remember the importance of listening during every phase of the conversation. When probing for information from a lead, be sure to really listen to what he or she is saying, and show them that you understand. You can do this by demonstrating reflective listening. Reflecting is paraphrasing what you heard to ensure that you understand what your lead is telling you. Here is an example of using reflecting to overcome an objection about affordability: Potential Buyer: Associate: Potential Buyer: Associate: Potential Buyer: Associate: The housing market is so expensive here I don t think we can afford anything. Purchasing a home is a big commitment. It sounds like it s the financial aspects of buying a home that are on your mind, am I right? Yes. How much have you explored your financial options? Have you sat down with a mortgage expert about what you can afford? No. We just based our price range on our monthly budget numbers. I feel it s important for you to have all the facts you need to make an informed decision, especially when it comes to finances. I can put you in touch with an expert in my office who can help you get a realistic idea of what you can afford and what you re comfortable spending on a monthly basis. Would it be helpful for you if we set up a meeting with my Gold Services Manager? Sample Reflecting Statements: It sounds like is important to you when looking for a new home. So you believe if a home had you might be interested in purchasing in this area. That must have been difficult for you to What an exciting opportunity for you and your family to move to! So from your point of view I am sensing that you are ready for is that right? I understand that your concern with the current market condition is Think of every lead as an Appointment with success. 11
Close Your goal is to get the lead to meet with you face-to-face to solidify your relationship through a Buyer Consultation or Listing Appointment. Your leads might be resistant at this point, so you need to sell the benefits of meeting with you. How will meeting with you get them closer to their goal of moving on? Listening, reflecting and probing will help you get to know your lead and understand their concerns. Then, you can close for an appointment to meet by showing them how meeting you will benefit them. To hear how these pieces flow together to help you close for an appointment, look at some common conversations shown on the following pages. 12 It s a Date!
Close Conversation # 1: Challenged for Time Associate: Have you been to any open houses since we last talked? Potential Buyer: No we have not. We kind of had a busy day after we met you. It can sometimes be difficult to get an idea of what homes are available. Associate: It sounds like you might not have a lot of time to be going from one open house to another. Here s how I can help you. After we met at my open house, I thought of two other homes that you might like. I can set up private viewings for you so we can work around your schedule. I am available tomorrow after 5 o clock to meet in my office, go over a few things and take a look at these homes. Is 5:30 okay for you? Conversation # 2: Financial Concerns Associate: So Tom, I m sensing some concerns and hesitation tell me what s keeping you from a buying home? Potential Buyer: Well, I just want to be able to buy a home that won t be too much for us to handle financially. I m concerned that we can t afford anything right now in the area where we want to live. Associate: It sounds like you have a good idea of where you want to live, but house prices might be out of reach we have financial experts on staff who can help work out a monthly payment you ll be comfortable with. Why don t we meet in my office so I can introduce you to Sam, my Gold Services Manager? He can answer all the financial questions on your mind. Does Tuesday at 6 o clock work for you? Conversation # 3: Moving On Associate: What areas are you interested in? Potential Buyer/Seller: Well, my wife and I are retired now. We want to move closer to our grandchildren, but we have our own house to sell. We want to be near the family, but we don t know a lot about the area, either. Associate: Mr. Jones, I would like to hear more about your plans to move closer to your grandchildren. When can I come over to talk about your plan for putting your home on the market so we can start to make this happen for you? Think of every lead as an Appointment with success. 13
Close Conversation # 4: Market Concerns Associate: What did you like about the house? Potential Buyer: Well, I like the house the kitchen is exactly what I want. But, I have some concerns about buying now that aren t related to the home. I ve heard so much about how badly the market is doing. I don t know if this is the right time to sell, even if we are outgrowing our home. Associate: There s quite a bit of information out there about the market that can make the decision to move on overwhelming. I understand why you re hesitant to commit to moving. There are many great reasons to move up in this market, and I d like to have a chance to sit down and talk about what s going on in the neighborhood where you want to live. When are you available to meet this week? How about Friday at 6:00? Conversation # 5: Do-It Yourself Shopper Associate: When would you like to meet again so I can show you more listings? Potential Buyer: Thank you, but I think I have been very successful in finding listings on the Internet. I like the fact that I can see all of the listings at my fingertips. Associate: I can appreciate the ease of shopping for homes online. However, did you know that many sellers don t have their homes advertised online? As a Realtor, I hear of houses coming on the market weeks before they re available to the public. I can email you information on all the houses that meet your search criteria and keep you updated when I hear of new listings. When are you available to start your search? Associate: (Alternate response) I know how easy it is to shop online from the comfort of your own home. Did you know that as a Realtor I have access to more information about the listings than what is available to consumers online? Plus, I m very familiar with the inventory in the area, and I ve been inside many of the listings you re seeing online. I can tell you what the homes are really like because I ve been there. Meeting with me can help you because of the first-hand experience and information I can offer you. Would next Tuesday evening be good for you? 14 It s a Date!
Close Conversation # 6: Not Ready Yet Associate: This market currently favors buyers. In the past five years, there s never been a better time to buy. I d love to show you some properties that are priced very well and fit your criteria. Would Tuesday afternoon be a good time for you? Potential Buyer: Well, we were just trying to get an idea of what is out there. We really aren t ready to buy yet. Associate: I know buying a home is a big decision and there are probably many reasons why you feel you re not ready to buy just yet. When do you think you will be ready to move? What changes in your life do you expect between now and the time when you move? Potential Buyer: We just started talking about whether it s the right time for us to buy. We were pre-qualified, and so much of what we like seems to be out of our price range. Associate: Buying a home is a big decision, one of the biggest you ll make in your life, and you re the ones who can ultimately determine when it s the right time for you. I can certainly understand wanting to wait until you can find something you really like. If you found a house at the right price, would you be willing to consider a move earlier? Potential Buyer: Of course we would. Associate: Great! I would like to share with you how the process of buying a home works so that when you are ready to buy you will know what to expect. Now, I realize you are just looking; I ll keep you updated on properties coming into the market through our multiple listing service. You may not be aware that only a very small percentage of homes actually on the market are held open every week or advertised. I ll make sure you stay updated on houses that might interest you. If I see something I think you will like, we can get together and talk about it. How does that sound? Conversation # 7: Need To Talk It Over with the Family Associate: Based on what we talked about, it sounds like you might be ready to take the next step toward buying a home. Potential Buyer: Well, yes, I am very interested, but I can t commit to anything until I talk with my family. Associate: That s a very wise decision. When will you be talking with them next or seeing them? Potential Buyer: I will be talking to them later tonight when I get home. Associate: I can schedule a time for them to join us in setting up your home search so you can get their input while you re beginning your search. Would that be helpful to you? Think of every lead as an Appointment with success. 15
Set the Stage for Next Contact If your lead agrees to meet with you, great! Confirm the time and place. However, you will most likely hear quite a few No s from leads who are resistant to committing to an appointment. Keeping in contact with your leads regularly will help you stay fresh in their minds so they ll think of you when they re ready to take action. Potential buyers and sellers change their minds all the time. Always commit to touching base again so your lead feels as if you re already working for them. Then, do what you say you will send information and call again within a reasonable amount of time to talk about what you sent. It sounds like after the baby is born in September you ll be ready to start actively looking for a home. To help you prepare for when you re ready to start looking, I ll send you a copy of the Weichert Brochure. It has great information about what to expect when buying a home, and I think it will help you. I ll follow up with you in 3 weeks in case you have questions. What I can do is take the search criteria we talked about and search for homes for you. When properties come on the market that fit your criteria, you ll get an email from me with details about the listings. I know you said you won t be ready until March, but if something catches your eye, let me know and I ll arrange for you to see it. You should get an email from me tomorrow. I ll follow up with you next week to see if you re interested in seeing any of the homes. Even though you won t be ready to sell until Matt graduates in May, I can share with you the local market statistics so that when you re ready to sell, you ll know how the market is developing in your area. Be on the lookout for my email this week, and I ll follow up with you next Saturday to see if you have any questions. 16 It s a Date!
Leaving Messages Leave compelling messages for your leads so they will be more likely to call you back. Here are some ideas to use when leaving voicemail messages: Hello, Mr. and Mrs.. This is from Weichert Realtors. I need to speak with you. Please call me on my cell phone at. Hello, Ms.. This is from Weichert Realtors. We met at the open house this afternoon over on Maple Ave in Clarksville. I was at the house that smelled like chocolate chip cookies. Well, I have some more information about that I need to talk to you about. Please call me back at. Hello, Mr.. This is from Weichert Realtors. Since we last spoke, I located properties which meet your search criteria in the area you were interested in moving to. It is important that I go over these listings with you because they are moving fast, so please call me as soon as you get this. My cell phone number is. Think of every lead as an Appointment with success. 17
Weichert Tools and Resources Weichert has several tools to help you stay in contact with your leads: Weichert Brochure This essential tool demonstrates your personal commitment to the "Weichert Difference" and demystifies the real estate experience. It is full of helpful information and advice for all buyers and sellers. Market Update Use the charts and graphs in the timely Market Update presentation to talk about what s happening in the local market with your leads. Expired Brochure Get your foot in the door with sellers who have been unsuccessful by listing with another broker. Your Gold Services Manager can help you convince your leads to take action. Partner with him or her to reach out to your leads and offer them help with their financial questions. Learn more about how to make the introduction through the Buyer Consultation or the Listing Presentation on the Weichert Toolkit. imail It s easy to set up your leads on a regular mailing schedule. See your Personal Marketing Coordinator for more information. For more information on these tools, see the Weichert Toolkit on Weichert University. (Log on to www.weichertone.com and click on Weichert University) 18 It s a Date!
Notes: Think of every lead as an Appointment with success. 19
Notes: 20 It s a Date!