Why aren’t your leads listing with you? With the market shifting and the problem of low inventory, you need to keep the edge to get those listings.
Aren’t you tired of being the rule and not the exception? Here are some reasons why they aren’t listing with you.
1. You rarely or don’t follow-up, so they forget about you.
Customer loyalty is better than customer satisfaction. Following-up is one of the essential strategies you can implement to gain referrals and repeat business. Each year agents lose 14% of their customers a year. The biggest reason is for not keeping in touch. Drop your past clients a line, send an email, or even a text message every once in a while. Send greeting cards over the holidays or keep track of their birthdays and send a message then. Nurtured leads have a 47% chance of making a significant buying decision versus a non-nurtured lead. A virtual assistant can manage your database to ensure that you have a follow-up campaign going. Make sure that you are always top of mind when they need your services, or someone asks them if they can recommend anyone.
2. You aren’t calling them back fast enough, so someone always beats you to it.
Statistics show that calling a lead within 5 minutes of an inquiry increases your chances of closing them by 78% AND get this, only 7% of business owners are currently able to achieve this response time. Reaching out to inquiries within the first minute is even better as sales conversions have been known to be higher by 391%! The average real estate agent only makes 2 attempts and 45% only make one attempt to follow up a client lead and would increase their conversion rate by 9 times if they increased their follow up attempt to only 5 times. Urgency is critical, and if you don’t have that urgency, then you are blowing it. Stay on top of all your inquiries and make sure you reach out to them within that sweet spot. A MyOutDesk Virtual Assistant can make sure that you don’t lose any business and make sure your speed to lead is optimal.
3. You aren’t prospecting enough.
More than 40% of Real Estate professionals say that prospecting is one of the most challenging aspects of running their business. Prospecting must be done consistently to keep business flowing in. While other mediums can be useful, making calls and having actual conversations is still the best way to connect with potential clients. For example, surveys show that only 24% of consumers read sales-oriented emails. An average agent can make about 8 prospecting contacts per hour and prospects for 6.25 hours to set one buying or selling appointment. So remember the magic number for prospecting is 50 prospects to set one appointment. We know that with everything you need to do, consistently prospecting might not be possible. One of our Real Estate ISA’s can be solely devoted to prospecting for you.
4. Your service sucks.
Like most Real Estate professionals, your strongest suite is most likely making connections and taking care of your clients’ needs. Most Real Estate professionals also admit that paperwork is something they aren’t very good at. They take a lot of time and attention to detail that requires focus. For example, NAR says that it takes 45 hours to complete a transaction from contract to close. 30 hours of these are all dedicated to paperwork. When you miss something or mix it up (this tends to happen when you have a lot on your plate). It diminishes the client’s experience. You need to ensure that you are accurate with everything and give stellar service on all fronts. Hiring someone on your team to focus on all your paperwork that needs attention can ensure that your services are always the best, therefore keeping the business flowing in. Have you considered hiring a Transaction Coordinator?
5. They don’t know who you are—therefore, they don’t know if they can trust you.
How likely are you to buy something or from someone you don’t know? 7 out of 10 consumers research before they decide to purchase. 90% of homebuyers begin their home search online. What is your online presence like? Do you ask you’re happy clients for reviews and referrals? What do you do with them? 91% of homebuyers say they would give a referral to an agent, but only 11% of agents ever ask for a referral. Furthermore, top agents say that they are using the social media site LinkedIn at least 6 hours a week. How long are you spending on your social media platforms? What kind of campaigns and strategies do you have in place for your online marketing? How are you managing your website? How about your blog? These are all critical parts of establishing trust and attracting more business. Working with a Virtual assistant can help you keep up with all the demands of our technology-driven world and establish yourself as someone trustworthy.