How to Re-engage Past Leads: 3 Lessons from the Best in Real Estate

How to Re-engage Past Leads: 3 Lessons from the Best in Real Estate

With customer intelligence advancing at lightning speed, a robust sales system will require a lot more than a three-fold sales brochure—how you spend your time and who you spend it with is everything.

 

So why are so many sales pros spending all their time on lead gen at the expense of lead conversion?

 

According to the Harvard Business Review, "Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one." Ouch.

 

Make no mistake. It's far cheaper to leverage your existing clients than generate new ones.

 

No one knows the value of leveraging your network of past clients better than a rockstar real estate leader. Today, we're sharing a select lineup of real-world case studies to help you sell like a multi-million dollar real estate entrepreneur.

 

#1 The Simple Past Client Marketing Plan Worth $30 Million

 

Sometimes the best sales systems are the simplest ones.

 

Case in point: Atlanta-based rockstar real estate team, The Graham Seeby Group. When co-founder Justin Seeby had to turn down a $800,000 home listing from a past client because he didn’t have time to help them, the light bulb switched on.

 

“I started to recognize that I was ignoring all my past clients, my whole database…I’m just basically pushing them off because I don’t have time for them,” he recalls.

 

When Justin finally decided to act on his coach's advice to optimize his network of past clients, the group went from $0-$90 million in just 4 years.

 

Here's how they did it:

 
  • On the 15th of every month, they sent a postcard to everyone in the database
  • On the 7th of every month, they sent a short video email
  • And on the 21st of every month, an email
  • Once a quarter they would call all the contacts on their list
 

At first, the idea of reigniting a conversation with someone who hadn't heard from him in two years (or longer!), was daunting to the point of paralysis. But with this simple strategy, and just 279 contacts—the listings started flowing in.

 

"For example, we did $2 million worth of sales to one couple I hadn’t talked to in 13 years. I mailed them a postcard, because I was afraid to pick up the phone and call them. I didn’t know if they’d know who I was. When they got the postcard they called me. They ended up spending $1.2 million on a new house, and selling an $800,000 house," says Justin.

 

"Imagine if I hadn’t sent that postcard! Because even though I had been in business for a long time at that point, I was still afraid to pick up the phone and call them, for the fear of rejection that they might not remember me.”

 

If you're ready to get over your mindset hurdles and generate more sales with less effort, there's no time like the present.

 

#2 Breathe Life Back into Your Database with a 'Last Minute Availability' Email

 

Former broker owner of Tropical Realty Beachside, Mitch Ribak, is known to his peers as "the grandfather of lead conversion."

 

And with an impressive 5.5% conversion rate for long term leads, it's a title he's definitely earned.

 

According to Mitch, if you’re itching to see some movement in the sales pipeline, try sending an email once every month or two to your list saying, “I had a last minute cancellation. Would anyone like to take their spot for a showing?”

 

Here's a template you can use:

 

Hi [First Name],

I’ve been sending you listings for a while now.

I have some availability this weekend. See anything you’d like to check out?

-[Name]

 

This 2-second email can end up bringing you some major ROI.

 

Of course, this example is specific to real estate, but by simply swapping out the word 'showing' to 'appointment', 'consultation, or another industry-specific term, you can easily achieve the same goal.

 

Just make sure you mix up the language a little each time you reach out to the same leads. After all, no one wants to feel like they’re reading a template.

 

#3 Always say thanks

 

This one may seem obvious, but you'd be surprised how many business leaders are leaving money on the table by forgetting to show a little appreciation for their past clients.

 

At CRG real estate companies, Preston Guyton and his ace real estate team tripled their conversions and closed over $25 million in sales volume simply by going the extra mile.

 

Rather than focus on blanket follow-ups for all past clients, the team has a dedicated Client Care Coordinator who takes responsibility for all post-closing follow-ups. They receive regular training on the latest market trends so they can pass that knowledge on to existing clients and leads via personalized emails sent straight from their CRM.

 

Of course, the Client Care Coordinator also attends closing meetings, bringing along a basket with goodies like coffee mugs, local honey and a thank you card to get the relationship off to a great start.

 

The secret to re-engaging past leads? Get creative.

 

Whether it's offering up a box of chocolates or a juicy insight on the latest industry trend, the secret to winning with past leads is to find fun, unique ways to show them you still care.

 

Many agents will send client appreciation gifts, such as; bath salts, lottery tickets, gift cards, etc. Keeping in touch is also a super-effective (and often overlooked) way to stand out amid the competition and nurture a personal relationship with past leads. And it doesn't have to be complicated.

 

Holiday cards are the classic example, and who doesn't love a bottle of wine or a box of chocolates on their birthday? Start with one of these proven methods and then evolve your system over time.

 

Fact is, each and every one of us is a salesperson—and that's doubly true for those of us running a business. You need to sell yourself to your team, your suppliers and of course, your leads and prospects, both past and present.


 

About the Author

 

DavidDave is the Head of Marketing at Follow Up Boss. In his role he spends a lot of his time 'under the hood' of many of the highest performing real estate teams in North America, helping them grow their businesses and collaborating with them to share their learnings and experiences with other ambitious team leaders.

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Leave a Reply

Your email address will not be published. Required fields are marked *

Top Rated Articles

How your company can adapt to the Digital Revolution

Over the last couple of years, technological innovation has brought about a rapid change in the customer service landsca

LEARN MORE

Will Marketing Automation Help Your Business Grow?

Marketing automation software can benefit your business in a number of ways. It is a great way to increase traffic, enco

LEARN MORE

How CRM Can Maximize Customer Lifetime Value (CLV)

"Keep your customers always on the frontline," this is a key philosophy to running a successful business. Customers are

LEARN MORE

Recently Viewed

How I changed my Facebook Business Page Name

I started a Facebook page for my business many years ago. I had spent thousands of dollars running ad campaigns and gain

LEARN MORE

Scratch me Happy…

  Today, walking to the local café at lunch I passed a young woman sitting on the grass using a coin to scratch

LEARN MORE

Why It's Important To Focus On The Financial Aspect of Your Business

It's not uncommon to hear people say - "I'm not really good with money". If you have been that person and used this expr

LEARN MORE
  • Over the past 6 months the incredible team at MMP have supported us to shift our attitude towards our business & month on month our revenue is increasing to the point we will be able to employ additional staff to support our business goals long into the future. Do not regret our decision one single bit!

    • Emma Reece

  • Working with my coach has enabled me to see the areas where my business is failing. This was pretty confronting to me to be honest. MMP has the tools to improve these areas and the guidance on how to implement them.

    • Sharon Robinson

  • I have been working with Max My Profit for approx 3 years now, and over that time I have learnt a lot of things about not only what it takes to run a business, but I have also learnt things about myself. I don't believe i'd be the person or have the business I have today if it wasn't for Max My Profit and our Business Excelerator. Great team to work with if you want to take your business serious!

    • Ben Choy

  • As a new client for Max My Profit (MMP) it has taken no time at all to realise the benefits of business coaching. Despite many years of senior management experience starting a new business requires best practice systems and processes built on a solid platform of detailed planning. I look forward to the benefits of adopting the formula being shared by MMP.

    • Campbell MacLeod

  • Max My Profit Are truly awesome at what they do. They have helped me over the past 12 months to get off the tools in my business and start working on my business. I am looking forward to 2019 with enthusiasm not concern. Thanks so much.

    • Aaron Kemp

  • If you are committed to Growth the Max My Profit Team has the tools and expertise to excelerate all areas of your life. They Care, They Listen, They Understand You as an Individual first then they focus on Your business. Thank you Max My Profit my rating is a 6/5 - Kindest Regards The Mr Handyfix Team

    • Catherine Kavadas

  • The team at Max My Profit are an absolute pleasure to deal with. I love working with a team who is on top of what they are doing and have a clear view of what they are working on with you and helping ensure you get to the end goal.

    • Lauren Watts

  • I have been working with MaxMyProfit over the years and what they do for SME's in growing their business is fantastic. Also due to there knowledge and their supporting material for companies across the 5 lifestyle stages and assisting them through this process day in day out is extremely comforting as a small business owner and have referred them many businesses over the years.

    • Steve Laingy

  • Working with a business coach from MaxMyProfit has been one of the best things I have done for my business. I had several other coaches before MaxMyProfit but these guys are a step above the others. I have seen a significant increase in sales, now have a business that can run itself and the coaching program has paid for itself many times over.

    • Matthew Kitchin

  • Much more than just business coaches. There is an absolute treasure chest of business knowledge in their members site.

    • Iain Campbell

  • Max My Profit are unique as they really partner with you to develop and implement a plan that will drive success for the business. I was hesitant to proceed as previous business coaches tell you what to do and rely on you to implement.

    • Michael de Haan

  • I attended one of Max My Profits introductory events in Melbourne. Having been an accountant for almost 30 years, I was somewhat sceptical. Boy was I wrong. I not only enjoyed the presentation, but I gleaned so much from just that session.

    • Daniel Odd

  • These guys are an absolute wealth of knowledge for Small Business. The programme and support networks they have set up ensure learn more every day and can take your business from good to great. Thanks so much.

    • John Butler