We’ve all heard it for years, the key is in the follow up… most sales are made after the umpteenth follow up… follow up is critical… got the picture?
Well, I agree 110%. But I practice only about 50%. I know that is the weakest part of my business and I am working on improving that part. We get busy and all of a sudden that post-it note on our desk is 2 weeks old and we wonder whether it’s too late to even bother calling…
Here’s the thing. I’ve been at this for 10 years and I have YET to buy a property from someone who didn’t say: “Yes! That is exactly what I want to do! Where do I sign?” on my initial contact. I’ve never experienced the truth of the words: “Time is a great motivator.” Sure I’ve had people contact me later and say they’re interested, but nothing ever came of those leads.
Maybe it depends on what you’re offering. If you offering a low cash price and 6 months or a year down the road they decide they’re willing to accept it then I can see it working out well to develop a great follow up system. But for sub2/LC/LO, I don’t see it. They either want to go creative or they don’t.
There is a thriving industry of people and organizations ready to sell you newsletters, flower seeds, magnets, coasters and just about anything else you can think of that your name and phone number can be stenciled or stamped on. Over the years, I have tried numerous things, but keep coming back to a few things that have seemed to keep some of the good will and my services in mind.
Look into Realprospect at www.realinvestorsoftware.com if you can spend $350. Or be cheap and simply create a reminder on Outlook or set a free reminder at www.memotome.com.
Yeah, your buyers are going to be, “Motivated”! Any of those,
“I need to think about it.”, folk will keep you on the line
for weeks and never sell.
There is software on the market for this like the other
guys mentioned, but the window for doing a creative deal
with a seller is kind of small. My seller’s and the ones I believe
most people deal with will practically beg you to buy theie house IF they’re truly motivated.
Don’t sweat having a system too much, just stay in this game.
Post-Its work just fine. :cool
I’ve had the same experiences as the others. I haven’t followed up with a seller for probably 4 years or so. I learned early on that they simply aren’t motivated. Besides, I’m too busy to think about following up, then spending the money to do it. Forget that. Motivation is the key with these sellers. I can’t tell you how many times each week I speak with a seller who is desperate to get rid of their house. I then pitch them and hang up the phone if I don’t get a verbal commitment on something.
Plus if you don’t do follow up you can legitimately tell them: “If you want to sell your house to me you have to do it now because I won’t be calling back.”
I agree that initial motivation is key, but on the other hand sometimes you just see a sweet deal with the right numbers in the right area where the seller isn’t quite motivated enough to leave the loan in their own name or let you come in and steal it. In those cases I am a believer that followup is VERY important. I believe it’s wise to be there when they’re ready, because all sellers’ minds change with time & circumstance!
Easiest and cheapest way to follow up in my opinion is email autoresponders. I get the email address of every lead that comes my way and put them in my autoresponder system. They’ll get emails from me for the next 6 months and I don’t even have to think about it. If the deal is that sweet I’ll even follow up by phone personally.
I can’t tell you how many times sellers have responded to my autoresponder several months from rejecting my initial offer; now their situation has changed and they’re ready to sell to me on my terms. Now the deal just got sweeter. :cool