Realtors: Why use Referral Marketing
17 August 2018
Has the following ever happened to you?
You follow-up on a hot real estate agent lead. You make the appointment with the prospect. At that meeting, you give a knock-out listing presentation. They seem impressed and excited to work with you. Then, you follow-up a few more times only to hear them say, “We’re still thinking of moving, but that won’t be for a few months.”
“No problem,” you say to yourself. “I’ll just follow-up with them at that time.”
Then, three months later, you drive down the street and notice a FOR SALE sign on their lawn — with a competing agent’s name on it. Ouch!
One of the biggest mistakes agents make with their real estate marketing is to underestimate the potential of a “later” prospect. That’s a lead that has indicated a plan to move, but not right away. For example, when a prospect says, “Maybe in the fall.”
Of course, it’s natural to get more excited about a “right now” prospect who’s ready to sell. Keep in mind, however, that if you also focus on converting more of those “later” real estate leads, you’re setting the stage for more listings and income in the months ahead.
So, how do you do that? After all, constantly phoning and emailing these “later” prospects can grow tiresome — for you and your prospects. As sales expert, Michelle Weinstein, writes in her blog, staying in touch with these prospects, “doesn’t mean continually pestering people. It just means continuing to show up, be of service…”
While the occasional call, email or visit is a good idea, what you need is a real estate marketing system that builds those relationships. When you reach out, ideally each month, your long-term prospects come to see you as their go-to agent. Then, when they are ready to sell, they’re likely to call you and no one else. And why wouldn’t they? At that point, they already know, like and trust you.
What the best real estate marketing system for doing that? One that utilizes a direct mail real estate newsletter that’s packed with valuable articles and includes your picture, branding and personal message. That way, you’re “showing up” each month and being of service.
So, let’s take another look at that earlier scenario. Imagine you’ve had a great meeting with a new prospect, but they indicate they’re not going to move for some months. This time, in addition to regular follow-ups by phone and email, you also send them a monthly printed real estate newsletter they welcome and read. A few months later, they’re ready to move. But this time, you don’t see a competitor’s FOR SALE sign on their lawn. You see yours.
Isn’t that worth focusing more attention on your “later” prospects? You can do that with a good real estate marketing system focused on lead conversion.